Bank card comparability instrument
Examine your Mastercard choices with our interactive instrument and filter bank cards based mostly on rewards worth, annual charges, revenue necessities and extra.
The very best Mastercard playing cards by class
Mastercard is among the most generally accepted bank card corporations on the earth—you need to use it in additional than 200 international locations, making it a sensible choice for travellers. Plus, Mastercard’s standing as the one bank card you need to use at Costco shops make it a robust selection for on a regular basis spending. No matter you want in a bank card—whether or not it’s alternatives to earn money or rewards, to journey, to make the most of low rates of interest, or to achieve entry to premium perks—there’s a Mastercard for you on this checklist.
Greatest money again Mastercard
At a look: The BMO CashBack World Elite Mastercard reserves its finest bonus charges for fashionable classes like groceries, transit and gasoline. That mentioned, this isn’t a card for giant spenders. Because of the modest month-to-month spending caps, this card will work finest for many who want a strong earner on reasonable spends. Among the many perks is free roadside help—an uncommon profit.
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BMO CashBack World Elite
Annual price: $120
Welcome provide: earn as much as 10% money again in your first 3 months and the $120 annual price waived in your first anniversary
Card particulars
| Rates of interest | 20.99% on purchases, 23.99% on money advances, 23.99% on stability transfers |
| Earnings required | Private revenue of $80,000 or family revenue of $150,000 |
| Credit score rating | 760 or greater |
Professionals
- This card affords accelerated earnings in lots of money again classes together with two of the most important: gasoline and groceries. The 5% money again fee for groceries is the best within the nation.
- Comes with free roadside help, which can turn out to be useful must you want a tow, a battery increase or assist altering a flat.
- You may redeem your money again everytime you need, with a minimal of $1 earned.
Cons
- The boosted earn charges are capped on the first $300 or $500 spent month-to-month, relying on the class. That is fairly restrictive for a premium card. With a card just like the Scotia Momentum Visa Infinite Card, for instance, your spending cap will be as excessive as the primary $25,000 yearly (greater than $2,000 per thirty days).
- The journey insurance coverage solely affords protection for as much as eight days.
- The annual revenue requirement of $80,000 per yr for people and $150,000 for households might put it out of attain for a lot of Canadians.
Greatest no-fee money again Mastercard
At a look: Flexibility is the secret with the no-fee Tangerine Cash-Again Mastercard. You may earn 2% money again in as much as three spending classes, chosen by you based mostly in your spending habits. And you’ll change your classes on-line.
Tangerine Cash-Again Card
Annual price: $0
Welcome provide: earn an additional 10% again on as much as $1,000 in on a regular basis purchases inside the first 2 months. Should apply by October 31, 2024.
Card particulars
| Rates of interest | 19.95% on purchases, 19.95% on money advances and 19.95% on stability transfers |
| Earnings required | Private or family revenue of $12,000 |
| Credit score rating | 660 or greater |
Professionals
- The two% bonus fee is aggressive for a no-fee card. Plus, there aren’t any spending caps on bonus classes that means that you simply’ll at all times earn 2% regardless of how a lot you spend.
- That is the one card in Canada that allows you to select your personal bonus classes. You may select as much as three classes out of 10 choices and customise the cardboard to your spending habits. Even higher, you’re not locked in. You may change your choices on-line with 90 days’ discover.
- With a $12,000 annual revenue requirement, this card may be very accessible.
- If in case you have an annual revenue of $60,000, you could be thought-about for the Tangerine World Mastercard which comes with extra advantages like cell gadget insurance coverage, free Boingo Wi-Fi, and Mastercard Journey Move Supplied By DragonPass, all for no cost.
- Your earnings are robotically paid month-to-month.
Cons
- Doesn’t embody journey insurance coverage.
- The bottom earn fee of 0.5% is on the low finish for money again playing cards.
- Whereas a minor inconvenience, to entry the third bonus class you need to open a Tangerine savings account.
Greatest journey rewards Mastercard
At a look: The MBNA Rewards Platinum Plus Mastercard will enchantment to these on the lookout for a method to earn factors that can be utilized for journey, with out having to pay an annual price. Plus, the distinctive birthday bonus perk returns 10% of your annual earnings in factors.
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MBNA Rewards Platinum Plus Mastercard
Annual price: $0
Welcome provide: earn 10,000 bonus factors ($50 in money again worth). Plus, get 4 factors per $1 spent on eligible restaurant, grocery, digital media, membership and family utility purchases through the first 90 days. (Not obtainable for residents of Quebec.)
Card particulars
| Rates of interest | 19.99% on purchases, 24.99% on money advances, 22.99% on stability transfers |
| Earnings required | None specified |
| Credit score rating | 660 or greater |
| Level worth | 1 MBNA Rewards level = $0.01 when redeemed for journey. |
Greatest low-interest Mastercard
At a look: If it is advisable to pay down debt, the MBNA True Line Gold Mastercard has loads to supply, like a modest $39 annual price and one of many lowest rates of interest available on the market. There isn’t a annual revenue requirement, making it extraordinarily accessible.
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MBNA True Line Gold Mastercard
Annual price: $39
Low rate of interest: 10.99%
Welcome provide: This card doesn’t have a welcome provide at the moment.
Card particulars
| Rates of interest | 24.99% on money advances, 13.99% on stability transfers |
| Earnings required | None specified |
| Credit score rating | 660 or greater |
Greatest stability switch bank card
At a look: If you happen to’re on the lookout for a method to cut back the curiosity on current debt, the MBNA True Line Mastercard affords a 0% stability switch fee for a full yr. Even on the common stability switch rate of interest of 17.99%, this card is saving you on curiosity prices. There’s no annual price for you and as much as 9 extra customers.
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MBNA True Line Mastercard
Annual price: $0
Low rate of interest: 12.99%
Stability switch provide: earn a 0% promotional annual rate of interest (“AIR”) for 12 months on stability transfers accomplished inside 90 days of account opening, with a 3% switch price. This provide is just not obtainable for residents of Quebec.
Card particulars
| Rates of interest | 24.99% on money advances, 17.99% on stability transfers |
| Earnings required | None specified |
| Credit score rating | 660 or greater |
Greatest retailer bank card
At a look: The no-fee PC Monetary World Elite Mastercard permits you to rack up substantial factors within the ever-popular PC Optimum program. You’ll earn enormous factors multipliers at Canada’s largest pharmacy, Customers Drug Mart, and at PC-affiliated shops, of which there are literally thousands of places throughout Canada.
PC Monetary World Elite Mastercard
Card particulars
| Rates of interest | 21.99% on purchases, 22.97% on money advances (21.97% for residents of Quebec), 22.97% on stability transfers |
| Earnings required | Private revenue of $80,000 or family revenue of $150,000 |
| Credit score rating | 560 or greater |
| Level worth | 10 PC factors = $0.01 at Loblaws grocery community and Customers Drug Mart. |
Greatest bank card for Costco
At a look: Though CIBC affords a Costco-branded Mastercard, it’s truly the Rogers Pink World Elite Mastercard with 1.5% flat money again that will get you the most effective earn fee on the warehouse large, each on-line and in-store. Rogers, Fido and Shaw clients earn an additional 0.5% again on all purchases. The potential for limitless money again and larger redemption flexibility is what offers this card an edge over the CIBC Costco Mastercard.
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Rogers Pink World Elite Mastercard
Annual price: $0
Welcome provide: This card doesn’t have a welcome bonus at the moment.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers |
| Earnings required | $80,000 per yr |
| Credit score rating | 725 or greater |
Professionals
- While you use this card you get 1.5% money again on the whole lot you purchase—or 2%, in case you’re a Rogers, Fido or Shaw buyer—netting you at the very least 0.5% greater than you’ll with the CIBC Costco Mastercard while you store in particular person.
- You may redeem your rewards while you need, so long as you may have $10 in earnings.
- The three% earn fee on purchases in U.S. {dollars} is sufficient to cowl the foreign transaction fee, which is often round 2.5%.
- Robust journey insurance coverage advantages are included, which is uncommon for a no-fee card.
Cons
- To qualify, you’ll want a private revenue of $80,000 or a family revenue of $150,000.
- You’ll have to spend at the very least $15,000 on the cardboard yearly. If you happen to don’t, you could be downgraded to a different card.
How we decide the most effective playing cards
Our editors apply their bank card experience and data of Canadians’ monetary objectives to provide you with choice standards that matches the wants of the supposed cardholder. For this rating, we began with our checklist of the best credit cards in Canada. If the most effective card on that checklist is a Mastercard, then it seems right here as properly. And if the most effective card is a Visa or American Express card, then we glance to the next-best card, and so forth, till we discover our greatest Mastercard for the class. Since there’s a Mastercard choice for each sort of bank card in Canada (together with journey, no-fee, money again, stability switch, and so forth.) now we have to make use of totally different choice standards for every class. The addition of hyperlinks from affiliate companions has no bearing on the outcomes. Learn extra about our selection process and about how MoneySense makes money.
