Credit card companies compete fiercely for a place in Canadians’ wallets. Ads promising the best value for cardholders appear everywhere from social media feeds to subway billboards to airport lounges. The Globe and Mail’s Big Guide to Canadian Credit Cards cuts through the hype with an independent look at how different cards perform, empowering readers to choose the one that best fits their financial goals.

This year’s update puts even more emphasis on real-world value. Cash-back cards are ranked by how much money they return to cardholders after fees, using three-year and five-year calculations that factor in base rates, bonus rewards and sign-up offers. We also account for spending caps – limits on how much of your spending is eligible for accelerated cash-back rates, which can significantly affect the value of a card for higher-spending households and often aren’t included in bank calculators. Perks and insurance are displayed on our page but are not factored into the ranking.

All card and promotion information was collected as of Nov. 25, 2025. Sign-up offers and terms are constantly changing and our calculations reflect the cards’ benefits at that time. Unlike many guides, ours wasn’t sponsored by a credit card company or bank and we don’t receive any financial compensation if you decide to apply for one of the cards on our list.

Methodology: How we ranked our Big Guide to Canadian Credit Cards

The merits of a credit card vary based on your personal goals and financial needs. Below, we’ve highlighted a number of options worth considering. But to help you find your best fit, our interactive tool lets you personalize the rankings by entering your spending across 12 categories, filtering for income requirements, annual fees, card networks and more. This means you can quickly see how cards stack up for your specific spending habits and eligibility.

Here are three cards to consider.

Top cash generator

True to its name, the SimplyCash Preferred Card from American Express offers impressive cash-back earning rates – 4 per cent on gas and groceries, plus a rare 2-per-cent rate on all other purchases – all for a monthly fee of $9.99 ($119.88 annually), making it ideal for savvy spenders. With no income requirements, it’s accessible to a wide range of consumers looking to maximize their cash-back rewards, even though American Express has a more limited network of merchants who accept it in Canada, compared with Visa and Mastercard.

Optimal choice for busy families

The BMO CashBack World Elite Mastercard delivers some of the strongest earn rates available on everyday spending – 5 per cent on groceries, 4 per cent on public transit and taxis, 3 per cent on gas and EV charging, 2 per cent on recurring bills and 1 per cent on everything else. Its broad category coverage makes it especially appealing for households with varied spending patterns. While the card carries the higher income requirements typical of premium products ($80,000 for individual applicants or $150,000 for households), it offers substantial value for users looking to maximize returns on routine expenses.

Fintech favourite with a long wait-list

Wealthsimple’s new Visa Infinite card became one of the most talked-about launches of the year, offering unlimited 2-per-cent cash back and zero foreign-exchange fees. More than 200,000 Canadians joined the wait-list for a card within weeks, but the rollout has been slow and, for many applicants, frustrating.

The card’s monthly fee, originally $10, doubled to $20 shortly after launch, though it’s waived for clients with at least $100,000 in assets or $4,000 in monthly direct deposits. The high flat-rate rewards are appealing, but without the fee waiver, cardholders would need to spend about $12,000 a year just to break even. That makes this card best suited for Wealthsimple users who are ready to deepen their relationship with the platform, rather than those looking for a low-cost, high-reward stand-alone option.

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