Credit card comparison tool
Compare Mastercard credit cards available in Canada using our interactive tool below. You can filter cards based on rewards value, annual fees, income requirements and more.
The best Mastercard credit cards in Canada
Mastercard is one of the three major payment processing networks in Canada, along with Visa and American Express. And although Mastercard doesn’t issue its own credit cards, it has partnered with card issuers like banks and other financial institutions that do. So, you can easily find a Mastercard that caters to your needs, regardless if you want travel points, cash back, low interest or perks. Let’s look at the best-of-the-best that Mastercard has to offer.
| Mastercard credit card | Highlights | Details | Eligibility requirements |
|---|---|---|---|
| BMO CashBack World Elite Mastercard | Award: Best cash back Mastercard
Best feature: 5% cash back on groceries and 4% back on transit |
Annual fee: $120
Rewards: 1% to 5% cash back Interest rates: 20.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers |
Income: $80,000 (personal) or $150,000 (household)
Credit score: 760 or higher |
| Tangerine Money-Back Credit Card |
Award: Best no-fee cash back Mastercard
Best feature: 2% cash back in up to 3 categories of your choice (including groceries, gas and dining) |
Annual fee: $0
Rewards: 0.5% to 2% cash back Interest rates: 20.95% on purchases, 22.95% on cash advances, 22.95% on balance transfers |
Income: $12,000 (personal or household)
Credit score: |
MBNA Rewards Platinum Plus Mastercard GO TO SITE* |
Award: Best travel rewards Mastercard
Best feature: Earn travel rewards for no annual fee and receive a nice birthday bonus perk annually |
Annual fee: $0
Rewards: 1 to 2 MBNA Rewards points per dollar Interest rates: 19.99% on purchases, 24.99% on cash advances, 22.99% on balance transfers |
Income: None specified
Credit score: |
| MBNA True Line Gold Mastercard |
Award: Best low-interest Mastercard
Best feature: 10.99% purchase interest rate |
Annual fee: $39
Rewards: None Interest rates: 10.99% on purchases, 24.99% on cash advances, 13.99% on balance transfers |
Income: None specified
Credit score: 660 or higher |
| MBNA True Line Mastercard |
Award: Best balance transfer credit card
Best feature: 0% promotional interest rate for 12 months |
Annual fee: $0
Rewards: None Interest rates: 10.99% on purchases, 24.99% on cash advances, 13.99% on balance transfers |
Income: None specified
Credit score: 660 or higher |
| PC Financial World Elite Mastercard |
Award: Best store credit card
Best feature: Highest rate of return at one of the largest retail networks in the country |
Annual fee: $0
Rewards: 10 to 45 PC Optimum points per dollar Interest rates: 21.99% on purchases, 22.97% on cash advances, 22.97% on balance transfers |
Income: $80,000 (personal) or $150,000 (household)
Credit score: 560 or higher |
| Rogers Red World Elite Mastercard |
Award: Best credit card for Costco
Best feature: Your highest earn rate at the warehouse retailer |
Annual fee: $0
Rewards: 1% to 3% cash back Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
Income: $80,000 (personal)
Credit score: 725 or higher |
How we pick the best Mastercard credit cards
MoneySense editors start by coming up with a list of the best overall credit cards in Canada. If the top card in Canada for a given category is a Mastercard, we may choose to include it on this page. And if our top pick is a Visa or American Express card, then we look to the next-best card, and so on, until we find the best Mastercard credit card for each category on this list. Since each category is unique, we use different selection criteria each time. The addition of links from affiliate partners has no bearing on the results. Read more about our selection process and about how MoneySense makes money.
Best cash back Mastercard
At a glance: The BMO CashBack World Elite Mastercard reserves its best bonus rates for popular categories like groceries, transit and gas. That said, this isn’t a card for big spenders. Due to the modest monthly spending caps, this card will work best for those who need a solid earner on moderate spending. Among the perks is free roadside assistance—an unusual benefit.
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BMO CashBack World Elite
Annual fee: $120
Welcome offer: earn up to 10% cash back in your first 3 months and the $120 annual fee waived in your first anniversary
Card details
| Interest rates | 20.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 760 or higher |
Pros
- High earn rate on major categories: Get the highest cash back rate for groceries in the nation, along with accelerated rates in categories like gas, transit and recurring bills.
- Free roadside assistance: This unusual perk will come in handy should you need a tow, a battery boost or help changing a flat.
- Easy redemptions: Get your cash back whenever you want, with a minimum of $1 earned.
Cons
- Earning caps: The boosted rates are restrictive for a premium card, capped at the first $300 or $500 spent monthly, depending on the category. With a card like the Scotia Momentum Visa Infinite, for example, your spending cap can be as high as the first $25,000 annually (more than $2,000 per month).
- Travel insurance coverage period: You’ll only be insured for up to eight days.
- High income requirement: This card may be out of reach for many Canadians.
Best no-fee cash back Mastercard
At a glance: Flexibility is the name of the game with the no-fee Tangerine Money-Back Credit Card. You can earn 2% cash back in up to three spending categories, chosen by you based on your spending habits. And you can change your categories online.
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Tangerine Money-Back Credit Card
Annual fee: $0
Welcome offer: Earn an extra 10% cash back during the first two months (up to $100 in cash back). Must apply by October 31, 2024.
Card details
| Interest rates | 20.95% on purchases, 22.95% on cash advances and 22.95% on balance transfers |
| Income required | Personal or household income of $12,000 |
| Credit score | 660 or higher |
Best travel rewards Mastercard
At a glance: The MBNA Rewards Platinum Plus Mastercard will appeal to those looking for a way to earn points that can be used for travel, without having to pay an annual fee. Plus, the unique birthday bonus perk returns 10% of your annual earnings in points.
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MBNA Rewards Platinum Plus Mastercard
Annual fee: $0
Welcome offer: earn 10,000 bonus points ($50 in cash back value). Plus, get 4 points per $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days. (Not available for residents of Quebec.)
Card details
| Interest rates | 19.99% on purchases, 24.99% on cash advances, 22.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
| Point value | 1 MBNA Rewards point = $0.01 when redeemed for travel. |
Best low-interest Mastercard
At a glance: If you need to pay down debt, the MBNA True Line Gold Mastercard has a lot to offer, like a modest $39 annual fee and one of the lowest interest rates on the market. There is no annual income requirement, making it extremely accessible.
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MBNA True Line Gold Mastercard
Annual fee: $39
Low interest rate: 10.99%
Welcome offer: This card does not have a welcome offer at this time.
Card details
| Interest rates | 24.99% on cash advances, 13.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
Best balance transfer credit card
At a glance: If you’re looking for a way to reduce the interest on existing debt, the MBNA True Line Mastercard offers a 0% balance transfer rate for a full year. Even at the regular balance transfer interest rate of 17.99%, this card saves you on interest charges. There’s no annual fee for you and up to nine additional users.
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MBNA True Line Mastercard
Annual fee: $0
Low interest rate: 12.99%
Balance transfer offer: earn a 0% promotional annual interest rate (“AIR”) for 12 months on balance transfers completed within 90 days of account opening, with a 3% transfer fee. This offer is not available for residents of Quebec.
Card details
| Interest rates | 24.99% on cash advances, 17.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
Best store credit card
At a glance: The no-fee PC Financial World Elite Mastercard allows you to rack up substantial points in the ever-popular PC Optimum program. You’ll earn huge point multipliers at Shoppers Drug Mart, Canada’s largest pharmacy, and at PC-affiliated stores, which have thousands of locations across Canada.
PC Financial World Elite Mastercard
Card details
| Interest rates | 21.99% on purchases, 22.97% on cash advances (21.97% for residents of Quebec), 22.97% on balance transfers |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 560 or higher |
| Point value | 10 PC points = $0.01 at Loblaws grocery network and Shoppers Drug Mart. |
Best credit card for Costco
At a glance: Although CIBC offers a Costco-branded Mastercard, it’s actually the Rogers Red World Elite Mastercard with 1.5% flat cash back that gets you the best earn rate at the warehouse giant, both online and in-store. Rogers, Fido and Shaw customers earn an extra 0.5% back on all purchases. The potential for unlimited cash back and greater redemption flexibility is what gives this card an edge over the CIBC Costco Mastercard.
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Rogers Red World Elite Mastercard
Annual fee: $0
Welcome offer: This card does not have a welcome bonus at this time.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | $80,000 per year |
| Credit score | 725 or higher |
More of Canada’s best credit cards:
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