Scotiabank Gold American Express Card
The Scotiabank Gold American Express Card offers a mix of dining rewards and versatile travel benefits, making it a good choice for most families.
Rewards: 6 Scene+ points for every dollar spent at Sobeys, Safeway Freshco, Foodland, and more; 5 Scotia Rewards points for every dollar spent at restaurants, fast food outlets, and bars; and food delivery and food delivery subscription services like DoorDash or UberEats. There are also 3 points on gas, public transit, rideshare and streaming services and 1 point on all other everyday purchases.
Welcome Offer: Earn 20,000 bonus Scene+ points by making at least $1,000 in everyday eligible purchases in your first three months. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
Annual Fee: $120
Other Benefits and Drawbacks: Besides the solid earn rates on dining, this card offers luxury travel perks, including priority pass airport lounge visits and a comprehensive travel insurance package. However, its American Express status limits its acceptance, as its network isn’t as extensive as those of Visa or Mastercard.
———————————————————————————-
RBC ION+ Visa
The RBC Ion+ Visa earns Avion points in almost every category families use, including: groceries, restaurants, food delivery, gas, streaming, gaming and more.
Rewards: Earn 3 points per dollar on groceries, dining out, food delivery, rideshares, gas, public transit, electric vehicle charging, streaming, digital subscriptions and gaming, including in-game purchases. Plus, earn 1 Avion Rewards point per dollar on all other purchases.
Welcome Offer: Get 12,000 Avion points upon approval*
Annual Fee: $48 (Paid as $4 per month)
Other Benefits and Drawbacks: This card offers a solid earn-rate in several high-spend categories, including gaming. That said, it has a low annual fee and doesn’t offer much in the way of free insurance coverage.
————————————————————————————————————————————————
CIBC Dividend Visa Infinite Card
One of Canada’s top cash-back credit cards, this card earns big on groceries and gas—two of the biggest spending categories for most families.
Rewards: Earn 4% cash back on grocery and gas purchases and 2% cash back on dining, transportation and recurring bills. All other purchases give you 1% cash back and there’s no cap on how much you can earn.
Welcome Offer: Earn 10% cash back on $3,000 in net purchases over the first four statements ($300 value)
Annual Fee: $120
Other Benefits and Drawbacks: This card earns an impressive $537.50 per year in cash back, even when you factor in the $120 annual fee. The only real drawbacks are the $120 annual fee and the relatively high income requirements of $60,000 in personal annual income or $100,000 in annual household income.
Learn more: CIBC Dividend Visa Infinite Review
————————————————————
Amazon.ca Rewards Mastercard®
Busy families will earn cash back when they shop on Amazon.ca and at Whole Foods—even more so if they’re Prime members.
Rewards: 2.5% at Amazon.ca and Whole Foods and on foreign transactions for Prime Members. 1.5% at Amazon.ca and Whole Foods for non-Prime members. 1% back on all other purchases for members and on members alike.
Welcome Offer: Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores, and restaurants on your first $3,000 in eligible purchases. This offer is valid for the first six months.
Annual Fee: $0
Other Benefits and Drawbacks: This card is great for Amazon.ca shopping and foreign transactions. However, the rewards are only redeemable in Amazon.ca gift cards, which might be a drawback to some.
Related: Best Credit Cards for Amazon
American Express Cobalt® Card
The American Express Cobalt® Card has been a top-pick in Forbes Advisor’s Best Grocery, Best Travel, Best Hotel, and Best Amex lists. This credit card is a boon to families (and anyone, really) due to its high earn-rates, high annual rewards value and suite of other useful perks.
Rewards: Earn 5 Membership Rewards per dollar spent on groceries (up to $30,000 annually), 3 Membership Rewards points per dollar spent on eligible streaming subscriptions in Canada, 2 Membership Rewards points per dollar spent on rideshares, transit and gas in Canada 1 Membership Rewards point per dollar spent on all other eligible purchases and 1 additional Membership Rewards point for every dollar spent on eligible hotel or car rental bookings made with American Express Travel.
Welcome Offer: In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway, say, or concert tickets.
Annual Fee: $155.88 ($12.99 per month)
Other Benefits and Drawbacks: This card is pretty much all benefits, aside from the relatively high annual fee and the limited acceptance of American Express, which still doesn’t have quite as wide an acceptance network in Canada as Visa or Mastercard.
PC Insiders World Elite Mastercard
If you shop at Loblaw banner stores like Fortinos and No Frills, this card’s PC Optimum points can quickly stack up to dollars of your in-store purchases.
Rewards: Earns 40 PC Optimum points per dollar at Loblaws-banner stores, 50 PC Optimum points per dollar at Shoppers Drug Mart, $0.07 per litre at Esso and Mobil gas stations and 10 PC Optimum points per dollar on everything else.
Welcome Offer: 150,000 PC Optimum points ($150 value) when you spend $3,000 or more within the first four months.
Annual Fee: $120
Other Benefits and Drawbacks: This card earns big when it comes to PC Optimum points and has a decent welcome bonus. That said, it has an annual fee and minimal benefits, only offering travel emergency medical insurance and car rental collision/loss damage waiver insurance.
Learn more: PC Insiders World Elite Mastercard Review
Walmart Rewards Mastercard
Given that families shop at Walmart for everything from groceries to camping equipment, this card can help you earn rewards on that spending.
Rewards: Earns 3% cash back in Walmart Reward Dollars on Walmart.ca spending, 1.5% cash back in Walmart Reward Dollars at Walmart and at gas stations, and 1% cash back in Walmart Reward Dollars everywhere else.
Welcome Offer: 15% back in Walmart Rewards Dollars on your first purchase of $150 ( a $22.50 value).
Annual Fee: $0
Other Benefits and Drawbacks: This card has a solid earn-rate if you grocery shop at Walmart. However, this card has a high income requirement.
Learn more: Walmart Rewards Mastercard Review
BMO eclipse Visa Infinite Card
The BMO eclipse Visa Infinite Card is our pick for the top gas credit card in Canada, making it ideal for families who truck their kids back and forth to sports and activities.
Rewards: Every dollar spent earns 5 points on gas, groceries, dining and transit and 1 point on everything else.
Welcome Offer: 60,000 BMO Rewards Points during the first year (30,000 points for spending $3,000 in the first 90 days and 2,500 points for each statement with $2,000 in purchases for 12 months). Conditions apply. The card must be approved by May 31, 2024.
Annual Fee: $120 (waived in the first year)
Other Benefits and Drawbacks: Most reward cards only offer high returns on one or two categories. This card covers four bonus categories and a 10% increase in earn rates for adding more users.
CIBC Costco Mastercard
Bulk shopping is often economical and convenient for families (especially big ones). This card rewards Costco shoppers with cash back on dining, Costco.ca purchases and Costco gas.
Rewards: 3% cash back at restaurants and on Costco gas, 2% cash back at Costco.ca and at other gas stations. 1% cash back on all other spending, including at Costco stores.
Welcome Offer: None.
Annual Fee: $0, but it is only available to Gold and Executive Costco members who must pay, respectively, a fee of $60 and $120 for their annual Costco membership.
Other Benefits and Drawbacks: This card earns a good rate of cash back at restaurants, on Costco gas and at Costco.ca. That said, it lacks travel perks and the earnings for in-store Costco purchases are lacklustre.
Learn more: CIBC Costco Mastercard Review
Tangerine Money-Back Credit Card
This card has a unique set up, offering 2% cash back in two or three purchase categories of your choice. This means families can tailor their cash back to their changing needs.
Rewards: Get unlimited 2% cash back in two categories of your choice (like groceries, gas and entertainment) and 0.50% cash back on all everyday purchases. Plus, get an extra 2% cash-back category rewards when your earnings are deposited into your Tangerine Savings Account.
Welcome Offer: Receive an extra 10% cash back on up to $1,000 worth of everyday purchases made in the first two months of owning the card.
Annual Fee: $0
Other Benefits and Drawbacks: This no-annual-fee card is a convenient way to earn cash back in the areas you buy most frequently does not offer additional perks like travel insurance.
Learn more: Tangerine Money-Back Card Review
