The best credit cards in Canada for 2024 Aug 8th

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Do retirees need life insurance? Mar 4th

Ask MoneySense My wife and I are both retired office workers from a large manufacturing firm. She retired at 60 and I did at 61. We are both 67 now. We have good retirement income between our pensions, LIF, OAS and max CCP, as well as about $12,000 per year in dividend income. The issue is our RRSP.... More »

Best credit cards for rental car insurance in Canada + MORE Dec 14th

Rental car insurance is a travel insurance benefit included with many premium credit cards. Understanding credit card rental car insurance can give you peace of mind and save you money the next time you hit the road. Let’s dive into the best credit cards with rental car insurance coverage in Canad.... More »

How does rent from a family member or common-law partner get taxed? Jan 28th

A client of mine told me (Ontario) that his girlfriend moved in and is paying $1,000 per month towards household costs. They won’t be common-law for 3 years in Ontario. Would this count as tax free?—Hans There are a few considerations here for your client, Hans. I will break them down. .... More »

Warning to caregivers: Expect a scavenger hunt + MORE Feb 25th

This story is part 3 in a series on financial caregiving for seniors. Read others in this series: 3 signs you need to take control of your parents’ finances Caring for a parent? Get a power of attorney Before my father was diagnosed with dementia, I had a 30,000-foot awareness of my f.... More »

Home insurance: Are you covered for wildfires, floods and other climate-related disasters? Sep 5th

As wildfires continue to burn in parts of Canada, we’re increasingly feeling the impacts of the climate emergency. Canada is warming twice as fast as the rest of the world, according to a report by the federal government in 2019. The highest temperature increases are in the North, the Prairies.... More »

The best credit cards in Canada for 2024

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The best credit cards in Canada for 2024
Whether you’re looking for rewards, low fees or valuable perks like travel insurance or airport lounge access, we can help.

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By Keph Senett and Justin Dallaire on August 6, 2024Estimated reading time: 35 minutes

A credit card can help you achieve many financial goals, from establishing your credit score to earning travel rewards and making a major purchase on credit. MoneySense has ranked the best credit cards in Canada across numerous categories of cards. On this page, however, you’ll find the best of the best: the cards that top their respective categories and cater to the needs of most Canadians. If you don’t find a card that suits you here, check out the credit card comparison tool below for even more options.

Best cards by categoryWhy we love itBest cash back credit cardSimplyCash Preferred Card from American ExpressAnnual fee: $1204% back on groceries and gas, and 2% back on all other purchases Best travel rewards credit cardAmerican Express CobaltAnnual fee: $156Some of the highest earn rates in Canada (with up to 5x the points on dining and groceries), combined with a flexible points, equals your best return on spending Best airline travel credit card (Air Canada)TD Aeroplan Visa Infinite CardAnnual fee: $139 High earn rates on gas, groceries and Air Canada purchases, easy redemptions and a $100 Nexus fee rebate every 2 yearsBest airline travel credit card (WestJet)WestJet RBC World Elite MastercardAnnual fee: $1191…

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