Canada’s Best Visa Credit Cards 2021
[ad_1] When consumers shop for a new credit card, they typically look at the ability to collect points, the insurance coverage offered, fees and interest rates on unpaid balances—not at the credit card company itself. But if you already have an account with RBC, CIBC, Scotiabank or any other Visa issuers, you may be inclined to choose a card that’s “in the family.” Or, maybe you want to take advantage of the benefits offered by the largest credit card company in the world—Visa. Whatever your reasons for considering Visa, this guide will help you find a credit card that fits your lifestyle. The best Visa credit cards in Canada These are credit cards offered by Ratehub partners. You can find information about additional product options below. Card Rewards / Features Annual fee BMO eclipse Visa Infinite (get more details)* 5 BMO pts/$1 on groceries, dining, gas & daily transit 1 pt/$1 on everything else $50 annual credit 1 BMO pt = 0.71% in travel rewards $120 Scotia Momentum Visa Infinite* (get more details)* 4% cash back on groceries and bills 2% on gas and daily transit 1% on everything else $120 TD First Class Travel Visa Infinite (get more details)* 9 TD pts/$1 on travel (via ExpediaForTD) 3 pts/$1 on everything else 1 TD pt = 0.5% in travel rewards $120 TD Aeroplan Visa Infinite (get more details)* 1.5 pts/$1 on groceries, gas & Air Canada 1 pt/$1 on everything else Free first checked bags on Air Canada Pts values vary $139 Home Trust Preferred (get more details)* 1% cash back on all CAD purchases No FX Fees $0 Scotiabank Passport Visa Infinite (get more details)* 2 Scotia pts/$1 on groceries, dining, and daily transit 1 pt/$1 on everything else 1 Scotia pt = 1% in travel rewards No FX Fees Lounge access $139 Best Visa card for everyday spending BMO eclipse Visa Infinite* If you’re looking to get rewards for everyday spending, you’ll want to consider the BMO eclipse Visa Infinite. With this card, you’ll earn a lucrative 5 BMO Rewards points (3.5% in travel rewards) per $1 spent on food and transit, including groceries, dining, gas, public transit, taxis and rideshares. These are top spending categories for most Canadians, particularly millennials and young professionals. And this card defines its categories broadly, so you can even get accelerated returns on food delivery and home meal kits. Everything else earns at a rate of 1 point per $1, which works out to a somewhat lukewarm 0.7% in travel rewards. But the annual $50 lifestyle credit, which is basically free money and awarded every January, makes up for it. You can also boost your rewards by 10% when you add an additional cardholder to your account, which costs $50 per card annually. Rewards are simple to redeem at bmorewards.com, where you can trade points for travel at a rate of 140 points per $1 (or 0.71% per point). Or you can redeem at 200 points per $1 (0.5% per point) as a statement credit towards virtually anything you purchased on your within the past 30 days when you use the Pay With Points program. Talk about flexibility; you can even put your points towards your BMO investment account. Annual fee: $120 (waived for first year) Welcome bonus: Up to 40,000 BMO Rewards points (25,000 points after you spend $3,000 in the first 3 months plus 15,000 points on your first anniversary) Earn rate: 5 BMO Rewards points on groceries, dining in and out, gas and transit, and 1 point per $1 on everything else Our favourite features: $50 lifestyle credit every year Additional benefits: Travel insurance including out-of-province and country emergency medical insurance, common carrier and car rental collision/loss and damage insurance coverage; up to $1,000 mobile device insurance; Visa Infinite privileges Minimum income requirement: $150,000 or $200,000 (household) Get more details about the BMO eclipse Visa Infinite* Best Visa credit card for cash back Scotia Momentum Visa Infinite* When it comes to perks, cash is king. You simply can’t find a more flexible reward currency, so it’s no surprise that cash back cards are extremely popular. The Scotiabank Momentum Visa Infinite tops our list for its high earn rate—4% on groceries and recurring bills, 2% on gas and daily transit (including public transit, taxis and rideshares), and 1% on everything else—and its robust purchase and travel protection. Annual fee: $120 (waived for first year) Welcome bonus: 10% cash back for all purchases up to $2,000 within the first 3 months Earn rate: 4% on gas and recurring bills; 2% on gas and daily transit; 1% on everything else Additional benefits: Mobile device insurance, travel emergency medical and travel accident coverage, car rental damage/loss waiver, flight interruption and delayed and lost baggage insurance; and access to Visa Infinite experiences Minimum income requirement: $60,000 or a minimum household income of $100,000 Get more details about the Scotia Momentum Visa Infinite* Best Visa card for flexible travel rewards TD First Class Travel Visa Infinite* From providing purchase protection and insurance coverage to offering opportunities to earn travel rewards, credit cards have revolutionized travel. Our top pick in this category, the TD First Class Travel Visa Infinite Card, allows you to earn TD Points which you can redeem for rewards, including travel. For new cardholders there’s a bonus of up to 60,000 points, which is a travel value of up to $300 when redeemed online at ExpediaforTD.com. In addition to the sign-up incentive, this card gets first pick for its flexibility. Rewards can be applied to any travel expense—not just flights. This offer is not available for residents of Quebec. For Quebec residents, please click here. Annual fee: $120 (rebated for the first year, along with $50 fee for first additional cardholder) Welcome bonus:Receive 20,000 TD Points when you make your first purchase and 40,000 points when you spend at least $1,500 within the first 90 days (total $300 travel value), plus get a first-year annual fee waiver for the primary and additional cardholders.
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