Choosing the best credit card Canada can be a daunting task. With so many options on the market, it can be overwhelming to determine which card is right for you. Lucky for you, we have done the research to determine the best credit cards in Canada. In this article, we will break down the benefits and drawbacks of the top credit cards in Canada to help you make an informed decision.

1. Scotiabank Gold American Express: With no annual fee for the first year and a signup bonus of up to 25,000 bonus points ($250 value), the Scotiabank Gold American Express is a great option. This card offers five points per dollar spent on groceries, dining out, and entertainment, and one point per dollar spent on everything else. The downside is that the annual fee is $120 after the first year and that the points can only be redeemed for travel expenses. However, if you're a frequent traveler or want to earn points for future vacation expenses, this card might be right for you.
2. The Tangerine Money-Back Credit Card: This card has no annual fee and offers cashback rewards in different categories that can be customized to your spending habits. You can choose up to three categories to earn 2% cashback on and one category to earn 0.5% cashback on. The remaining categories earn you 1% cashback. The downside is that the number of categories earning cashback is limited, and the cashback rewards must be redeemed at the end of each month for a deposit into a Tangerine Savings account. However, if you're looking for a cashback card with no annual fee, this is a good option.
3. TD Cash Back Visa Infinite Card: Although this card has an annual fee of $120, it offers a 10% cashback bonus on all purchases made in the first three months of ownership (up to $200). After that, you earn 3% cashback on gas, groceries, and recurring bills, and 1% cashback on everything else. The downside is that the 3% cashback categories are limited, and the annual fee may not be justified if you don't spend enough in the bonus categories. But if you're looking for a premium card with great cashback rewards, this card is a good option.
4. BMO CashBack World Elite Mastercard: With a $120 annual fee, this card offers 1.5% cashback on all purchases, and a $150 signup bonus after spending $2,000 in the first three months. Other perks include roadside assistance, travel medical insurance, and car rental insurance. The downside is that the cashback rewards are not as high as other cards, and the annual fee may not be justified if you don't spend enough. However, if you're looking for perks beyond cashback rewards, this card may be right for you.
5. American Express Cobalt Card: With no annual fee for the first year and a signup bonus of up to 30,000 points ($300 value), this card offers five points per dollar spent on dining and groceries, two points per dollar spent on travel, gas, and transit, and one point per dollar spent on everything else. The downside is that the annual fee is $120 after the first year, and the points can only be redeemed for travel, merchandise, or gift cards. However, if you're looking for a rewards card with a variety of bonus categories, this card may be the right choice.

Conclusion:

In conclusion, choosing the right credit card can be a daunting task, but by doing your research and considering your spending habits, you can find the perfect card for you. From cashback rewards to travel points, there are many options on the market. We hope this guide has helped you narrow down your choices and find the best credit card for you.