Rewards credit cards in Canada offer various benefits, such as cashback, travel points, merchandise rewards, and more. Here are some popular rewards credit cards in Canada:

1. Scotiabank Gold American Express: This card offers rewards points for every dollar spent on eligible purchases, including gas, groceries, dining, and entertainment. The points can be redeemed for travel, merchandise, or cashback.
2. BMO World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also offers travel insurance and lounge access at airports.
3. TD Aeroplan Visa Infinite: This card is popular for its Aeroplan rewards program, which allows you to earn points for every dollar spent and redeem them for flights and other travel expenses.
4. CIBC Aventura Visa Infinite: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also comes with travel insurance and airport lounge access.
5. American Express Cobalt Card: This card is popular for its flexible rewards program, which allows you to earn points for every dollar spent on eligible purchases, including food delivery and streaming services. The points can be redeemed for travel, merchandise, or cashback.
6. Capital One Aspire Travel World Elite Mastercard: This card offers travel rewards for every dollar spent, which can be redeemed for flights, hotels, car rentals, and more. It also comes with travel insurance and concierge services.
7. RBC Avion Visa Infinite: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also offers travel insurance and airport lounge access.
8. Tangerine Money-Back Credit Card: This card allows you to choose up to three spending categories to earn cashback on, such as groceries, gas, and recurring bills. It also offers no annual fee and no limit on cashback earnings.
9. Meridian Visa Infinite Cashback Card: This card offers cashback on every purchase, with higher rates for gas, grocery, and pharmacy purchases. It also offers travel insurance and airport lounge access.
10. Rogers World Elite Mastercard: This card offers cashback rewards on all purchases, with higher rates for foreign currency transactions and purchases made at Rogers and Fido stores. It also offers travel insurance and no annual fee.
11. Canadian Tire Triangle Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for Canadian Tire merchandise, gas, and more. It also offers no annual fee and roadside assistance.
12. HSBC World Elite Mastercard: This card offers travel rewards points for every dollar spent, which can be redeemed for flights, hotels, car rentals, and more. It also comes with travel insurance and airport lounge access.
13. MBNA Rewards World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also offers travel insurance and concierge services.
14. National Bank World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also offers travel insurance and airport lounge access.
15. Desjardins Odyssey World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also offers travel insurance and airport lounge access.
16. Simplii Financial Cash Back Visa Card: This card offers cashback on all purchases, with higher rates for gas and grocery purchases. It also offers no annual fee and no limit on cashback earnings.
17. American Express Platinum Card: This premium card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also offers travel insurance, airport lounge access, and concierge services.
18. PC Financial World Elite Mastercard: This card offers rewards points for every dollar spent at participating grocery stores, gas stations, and drugstores, which can be redeemed for PC products and services. It also offers no annual fee and no limit on rewards earnings.
19. Home Trust Preferred Visa: This card offers cashback on all purchases, with higher rates for groceries, gas, and recurring bills. It also offers no annual fee and no foreign transaction fees.
20. Amazon.ca Rewards Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for Amazon.ca merchandise. It also offers no annual fee and no foreign transaction fees.

Are rewards cards really worth it?

Rewards credit cards can be worth it if you use them responsibly and take advantage of the rewards and benefits offered. Here are some factors to consider when deciding if a rewards credit card is worth it for you:

1. Your spending habits: Rewards credit cards work best for people who use them to make purchases they would make anyway. If you spend a lot of money on gas, groceries, or travel, a card that offers rewards in those categories could be worth it.
2. The rewards program: Look for a card that offers rewards that are valuable to you. If you love to travel, a card that offers travel rewards could be worth it. If you prefer cashback, look for a card that offers cashback rewards.
3. The annual fee: Many rewards credit cards come with an annual fee. Make sure the rewards and benefits you receive are worth the cost of the fee. Some cards may waive the fee for the first year or offer a sign-up bonus to offset the cost.
4. Interest rates and fees: If you carry a balance on your credit card, the interest charges can quickly outweigh any rewards you earn. Make sure you understand the interest rates and fees associated with the card before applying.

What are the 3 main types of credit card rewards?

The three main types of credit card rewards are:

1. Cashback: Cashback rewards credit cards allow you to earn a percentage of the money you spend on the card as cashback. For example, a card may offer 1% cashback on all purchases or higher percentages on specific categories like gas, groceries, or dining.
2. Travel rewards: Travel rewards credit cards allow you to earn points or miles for every dollar you spend, which can be redeemed for travel-related expenses like flights, hotels, rental cars, and more. Some cards also offer perks like airport lounge access, free checked bags, or travel insurance.
3. Points rewards: Points rewards credit cards allow you to earn points for every dollar you spend, which can be redeemed for a variety of rewards like merchandise, gift cards, or experiences. Some cards offer bonus points for spending in specific categories or for meeting spending requirements within a certain time frame.

What is the difference between a credit card and a rewards credit card?

A credit card is a financial product that allows you to borrow money from a lender to make purchases or pay for services. You then pay back the borrowed amount, usually with interest, over time. A credit card can also help you build credit if you make payments on time and keep your balance low.

A rewards credit card is a type of credit card that offers rewards or incentives for using the card to make purchases. Rewards can come in the form of cashback, travel points, merchandise rewards, or other types of benefits. These rewards are designed to incentivize you to use the card more frequently and can help you save money or get more value from your spending.

The primary difference between a credit card and a rewards credit card is that a rewards credit card offers additional benefits beyond just borrowing money. While both types of cards allow you to make purchases and pay them back over time, a rewards credit card offers additional incentives for using the card. Rewards credit cards may also have higher interest rates or annual fees compared to basic credit cards, as the rewards programs are a cost to the card issuer.

What are the disadvantages of rewards program?

While rewards programs can be attractive to consumers, there are some potential disadvantages to consider, including:

1. Higher fees: Many rewards credit cards come with higher annual fees than non-rewards credit cards. Additionally, some rewards programs require you to spend a minimum amount of money to qualify for rewards or to maintain your rewards status.
2. High interest rates: Some rewards credit cards have higher interest rates than non-rewards credit cards. If you carry a balance on your credit card, the interest charges can quickly outweigh any rewards you earn, making the rewards program less valuable.
3. Limited redemption options: Some rewards programs have limited redemption options or require you to jump through hoops to redeem your rewards. For example, some travel rewards programs may have blackout dates or restrictions on when and how you can redeem your points.
4. Overspending: Rewards programs can encourage overspending if you focus too much on earning rewards and not enough on staying within your budget. If you carry a balance on your credit card, the interest charges can quickly outweigh any rewards you earn, making the rewards program less valuable.
5. Complex rules: Some rewards programs have complex rules and restrictions that can make it difficult to earn and redeem rewards. Be sure to read the terms and conditions carefully before signing up for a rewards credit card.

What are the advantages of rewards program?

There are several advantages to rewards programs, including:

1. Saving money: Rewards programs can help you save money on purchases you would make anyway. For example, cashback rewards can put money back in your pocket, and travel rewards can help you save on flights, hotels, and other travel expenses.
2. Getting more value from your spending: Rewards programs allow you to get more value from your spending by earning rewards for every dollar you spend. Depending on the card, rewards can be redeemed for merchandise, travel, cashback, or other benefits.
3. Perks and benefits: Many rewards credit cards come with additional perks and benefits, such as travel insurance, airport lounge access, concierge services, and more. These benefits can make your life easier and more enjoyable, and may even save you money in the long run.
4. Building credit: Using a rewards credit card responsibly can help you build credit by demonstrating your ability to make payments on time and manage your credit wisely.
5. Flexibility: Rewards programs offer flexibility in how you earn and redeem rewards. Some cards allow you to choose which categories you earn rewards in, while others offer a variety of redemption options. This flexibility can help you tailor your rewards program to your specific needs and preferences.

10 Best cashback rewards credit cards in Canada

Here are 10 of the best cashback rewards credit cards in Canada:

1. Tangerine Money-Back Credit Card: This card offers 2% cashback in up to three spending categories of your choice and 0.5% on all other purchases.
2. SimplyCash Preferred Card from American Express: This card offers 2% cashback on all purchases with no limit on cashback earnings.
3. Scotia Momentum Visa Infinite Card: This card offers 4% cashback on eligible gas and grocery purchases, 2% cashback on eligible drugstore purchases and recurring bills, and 1% cashback on all other purchases.
4. CIBC Dividend Visa Infinite Card: This card offers 4% cashback on eligible gas and grocery purchases, 2% cashback on eligible Tim Hortons and TELUS purchases, and 1% cashback on all other purchases.
5. BMO CashBack World Elite Mastercard: This card offers 1.5% cashback on all purchases and includes travel insurance and other travel perks.
6. RBC Cash Back Preferred World Elite Mastercard: This card offers 1.5% cashback on all purchases and includes extended warranty and purchase protection.
7. MBNA Rewards World Elite Mastercard: This card offers 2% cashback on gas, groceries, and restaurants and 1% cashback on all other purchases.
8. Rogers World Elite Mastercard: This card offers 1.75% cashback on all purchases and includes travel insurance and other travel perks.
9. CIBC Dividend Platinum Visa Card: This card offers 4% cashback on eligible gas and grocery purchases and 2% cashback on eligible Tim Hortons and TELUS purchases.
10. TD Cash Back Visa Infinite Card: This card offers 3% cashback on eligible gas, grocery, and recurring bill payments and 1% cashback on all other purchases.

10 Best travel rewards credit cards in Canada

Here are 10 of the best travel rewards credit cards in Canada:

1. American Express Cobalt Card: This card offers flexible rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
2. TD Aeroplan Visa Infinite Card: This card is popular for its Aeroplan rewards program, which allows you to earn points for every dollar spent and redeem them for flights and other travel expenses.
3. CIBC Aventura Visa Infinite Card: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
4. BMO World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
5. Scotiabank Gold American Express Card: This card offers rewards points for every dollar spent on eligible purchases, including gas, groceries, dining, and entertainment. The points can be redeemed for travel, merchandise, or cashback.
6. HSBC World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
7. RBC Avion Visa Infinite Card: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
8. National Bank World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
9. Desjardins Odyssey World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
10. Capital One Aspire Travel World Elite Mastercard: This card offers travel rewards for every dollar spent, which can be redeemed for flights, hotels, car rentals, and more. It also includes travel insurance and other travel perks.

10 Best points rewards credit cards in Canada

Here are 10 of the best points rewards credit cards in Canada:

1. American Express Gold Rewards Card: This card offers flexible rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
2. Scotiabank Platinum American Express Card: This card offers rewards points for every dollar spent on eligible purchases, including gas, groceries, dining, and entertainment. The points can be redeemed for travel, merchandise, or cashback.
3. TD Rewards Visa Card: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
4. BMO Rewards Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
5. RBC Rewards+ Visa Card: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes purchase protection and other perks.
6. CIBC Aventura Visa Card: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
7. Desjardins Odyssey Gold Visa Card: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes travel insurance and other travel perks.
8. Capital One Aspire Cash World Elite Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for cashback or travel. It also includes purchase protection and other perks.
9. MBNA Rewards Platinum Plus Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for travel, merchandise, or cashback. It also includes purchase protection and other perks.
10. Tangerine World Mastercard: This card offers rewards points for every dollar spent, which can be redeemed for merchandise, cashback, or donations to charity. It also includes purchase protection and other perks.

Rewards credit cards in Canada FAQs

Here are some frequently asked questions about rewards credit cards in Canada:

1. What is a rewards credit card?

A rewards credit card is a type of credit card that offers rewards or incentives for using the card to make purchases. Rewards can come in the form of cashback, travel points, merchandise rewards, or other types of benefits.

2. How do rewards credit cards work?

Rewards credit cards work by earning rewards points or cashback for every dollar spent on the card. The rewards can then be redeemed for a variety of benefits, including travel, merchandise, cashback, or other rewards.

3. What are the benefits of using a rewards credit card?

The benefits of using a rewards credit card include earning rewards for your spending, getting more value from your purchases, and enjoying additional perks and benefits like travel insurance, airport lounge access, and more.

4. What are the disadvantages of using a rewards credit card?

The disadvantages of using a rewards credit card include higher fees and interest rates, limited redemption options, potential overspending, and complex rules and restrictions.

5. What should I consider when choosing a rewards credit card?

When choosing a rewards credit card, consider your spending habits, the rewards program, the annual fee, interest rates and fees, and any additional perks or benefits offered by the card.

6. Are rewards credit cards worth it?

Rewards credit cards can be worth it if you use them responsibly and take advantage of the rewards and benefits offered. However, it’s important to compare the features, benefits, and fees of different cards to find the one that best fits your needs.

7. How do I redeem rewards from my rewards credit card?

The redemption process varies depending on the card and the rewards program. Most cards offer online or mobile redemption options, where you can choose how to redeem your rewards, such as for travel, merchandise, or cashback. Some cards may also offer redemption through a rewards catalog or by contacting customer service.

8. Can I transfer rewards between different credit cards?

Some credit card companies allow you to transfer rewards between cards, while others do not. If you are interested in transferring rewards, be sure to check the terms and conditions of your credit card and the rewards program.

9. How can I maximize my rewards on my credit card?

To maximize your rewards on your credit card, consider spending in categories where you earn the most rewards, such as gas, groceries, or dining. Some cards may also offer bonus rewards for signing up or meeting certain spending requirements. Additionally, be sure to pay off your balance in full each month to avoid interest charges and fees.

10. How do I cancel a rewards credit card?

To cancel a rewards credit card, contact your credit card company’s customer service department. Be sure to pay off your balance in full and redeem any rewards you have earned before cancelling the card.

11. How does the rewards program impact my credit score?

Your rewards program typically does not directly impact your credit score. However, carrying a high balance on your credit card and making late payments can negatively impact your credit score, which can make it harder to qualify for credit in the future.

12. Can I have multiple rewards credit cards?

Yes, you can have multiple rewards credit cards. However, be sure to manage your spending and payments carefully to avoid carrying a high balance or paying high interest charges and fees.

13. How do I know if a rewards credit card is right for me?

A rewards credit card may be right for you if you use it responsibly and can take advantage of the rewards and benefits offered. Consider your spending habits, financial goals, and preferences to find a card that aligns with your needs.

14. Are there any restrictions on how I can use my rewards?

The restrictions on how you can use your rewards will vary depending on the rewards program and the credit card. Some rewards programs may have blackout dates, expiration dates, or restrictions on how you can redeem your rewards. Be sure to read the terms and conditions carefully before choosing a rewards credit card.

15. Can I use my rewards for anything I want?

The use of rewards will vary depending on the rewards program and the credit card. Some rewards programs allow you to use your rewards for anything you want, while others may have restrictions or limitations. Be sure to check the terms and conditions of your rewards program to understand how you can use your rewards.

16. How do I earn rewards points or cashback on my credit card?

You can earn rewards points or cashback on your credit card by using the card to make purchases. Depending on the card, you may earn a certain amount of rewards for every dollar spent, or you may earn rewards based on specific categories of spending, such as groceries or gas.

17. How can I track my rewards points or cashback?

Most credit card companies offer online or mobile access to your rewards account, where you can track your rewards points or cashback balance. Some companies may also send you statements or notifications about your rewards balance and redemption options.

18. Can I earn rewards points or cashback on balance transfers or cash advances?

Typically, rewards programs do not offer rewards points or cashback for balance transfers or cash advances. Be sure to check the terms and conditions of your credit card and the rewards program to understand how rewards are earned and redeemed.

19. Do rewards credit cards have an annual fee?

Some rewards credit cards have an annual fee, while others do not. Cards with annual fees often offer more rewards and benefits than cards without fees, but it’s important to weigh the costs and benefits to determine if the fee is worth it for your spending habits and financial goals.

20. Can I share my rewards points or cashback with someone else?

The ability to share rewards points or cashback with someone else will vary depending on the rewards program and the credit card. Some programs allow you to transfer rewards to another account or redeem rewards for a gift card or other item that can be shared. Be sure to check the terms and conditions of your rewards program to understand the options for sharing rewards.

21. Can I earn rewards on my business expenses with a personal rewards credit card?

While you can use a personal rewards credit card to make business purchases, it may not be the most efficient way to earn rewards on your business expenses. Consider a business rewards credit card instead, which may offer higher rewards on business expenses and other perks and benefits designed for business owners.

22. Can I use my rewards credit card outside of Canada?

Most rewards credit cards can be used outside of Canada, but be sure to check the foreign transaction fees and other fees associated with international purchases. Some rewards programs may also have restrictions or limitations on rewards earned outside of Canada.

23. How can I avoid paying interest charges on my rewards credit card?

To avoid paying interest charges on your rewards credit card, pay off your balance in full each month. If you cannot pay off your balance in full, consider making more than the minimum payment to reduce your balance and avoid higher interest charges.

24. What should I do if I lose my rewards credit card?

If you lose your rewards credit card, contact your credit card company immediately to report the loss and request a replacement card. Be sure to monitor your account for any unauthorized charges and update any automatic payments or recurring charges with your new card information.

25. How do I close my rewards credit card account?

To close your rewards credit card account, contact your credit card company’s customer service department. Be sure to pay off your balance in full and redeem any rewards you have earned before closing the account.