Choosing the right credit card is one of the most important financial decisions you’ll make as a Canadian consumer. The difference between an average card and an optimized card can mean thousands of dollars in travel value every year—or the difference between flying economy and experiencing business class to Europe.
Most people don’t realize that leveraging travel rewards to their full potential can truly transform the way you travel. With the right card in your wallet, your everyday spending on groceries, dining, and gas becomes the fuel for extraordinary travel experiences. The question isn’t whether you should earn points—it’s which card will deliver the maximum value for your specific spending patterns.
Top Picks Summary Table
| Card | Best For | Top Earn Rate | Annual Fee | Welcome Bonus | Point Value |
|---|---|---|---|---|---|
| American Express Cobalt Card | Groceries & Dining | 5x on food | $155.88 | 50,000 points | 2.1¢ per point |
| The Platinum Card from American Express | Premium Travel | 2x on travel | $799 | 100,000-200,000 points | 2.1¢ per point |
| TD Aeroplan Visa Infinite Card | Air Canada Flyers | 1.5x on Aeroplan purchases | $139 | 50,000 points | 1.4¢ per point |
| CIBC Aventura Visa Infinite Card | Flexible Travel | 1.5x on gas, groceries, dining | $139 | 55,000 points | 1.0¢ per point |
| Scotiabank Passport Visa Infinite Card | International Travelers | 2x on dining, entertainment, transit | $139 | 40,000 points | 1.0¢ per point |
| BMO Eclipse Visa Infinite Card | Everyday Spenders | 5x on gas, groceries, dining | $120 | 50,000 points | 1.0¢ per point |
| RBC Avion Visa Infinite Card | Balanced Rewards | 1.25x on all purchases | $120 | 55,000 points | 1.4¢ per point |
The Top 7 Credit Cards for Earning Points in Canada
1. American Express Cobalt Card
Who It’s Best For: Anyone who spends significantly on groceries and dining—which describes most Canadian households.
The American Express Cobalt Card has earned its position as Canada’s top travel rewards card for the ninth consecutive year, and for good reason. This card transforms your everyday food spending into premium travel experiences faster than any other option available to Canadians.
Earn Rates That Matter:
The Cobalt Card’s earning structure is built around the categories where Canadians spend most:
- 5 points per dollar on eligible eats and drinks (groceries, restaurants, bars, food delivery)
- 3 points per dollar on eligible streaming services (Netflix, Spotify, Apple Music)
- 2 points per dollar on travel and transit
- 1 point per dollar on everything else
These are Membership Rewards points valued at 2.1 cents each, making the effective return rate 10.5% on groceries and dining. No other Canadian credit card comes close to this value proposition.
Real-world calculation: The average Canadian household spends approximately $12,000 annually on groceries and $6,000 on dining. With the Cobalt Card, that’s 90,000 Membership Rewards points worth $1,890 in travel value—from just two spending categories.
Annual Fee and Welcome Bonus:
The annual fee is $12.99 monthly ($155.88 annually), which is remarkably low considering the earning potential. The current welcome bonus offers 50,000 points after meeting minimum spending requirements—worth $1,050 in travel value.
The welcome bonus structure typically requires $3,000 in spending over the first three months, making it accessible for most applicants.
One Clear Downside:
American Express acceptance in Canada, while improving, still lags behind Visa and Mastercard. Some smaller merchants, particularly in rural areas, don’t accept Amex. You’ll need a backup Visa or Mastercard for these situations.
However, this limitation is becoming less significant as acceptance expands. Major grocery chains, restaurants, and online retailers all accept American Express, covering the vast majority of your 5x earning opportunities.
2. The Platinum Card from American Express
Who It’s Best For: Frequent travelers who value premium experiences, airport lounge access, and comprehensive travel benefits.
The Platinum Card represents the pinnacle of Canadian travel credit cards. While the annual fee is substantial, the combination of earning power, welcome bonuses, and included benefits can deliver exceptional value for the right user.
Earn Rates That Matter:
The Platinum Card’s earning structure focuses on travel:
- 2 points per dollar on travel purchases booked through American Express Travel
- 1.25 points per dollar on all other eligible purchases
At 2.1 cents per point, that’s a 4.2% return on travel and 2.6% on everything else—solid rates that become exceptional when combined with the card’s benefits.
The real value comes from strategic use: book flights and hotels through Amex Travel to earn 2x points, then transfer those points to Aeroplan or other partners for premium redemptions.
Annual Fee and Welcome Bonus:
The annual fee is $799, making this a significant commitment. However, the card includes benefits that offset much of this cost:
- $200 annual travel credit
- $200 annual dining credit
- Priority Pass lounge access (worth $400+ for frequent travelers)
- Hotel elite status with Marriott and Hilton
- Comprehensive travel insurance
The welcome bonus varies but currently offers up to 200,000 Membership Rewards points—worth $4,200 in travel value. This alone justifies the first-year fee for most applicants.
One Clear Downside:
The $799 annual fee is prohibitive unless you actively use the included benefits. If you don’t travel frequently enough to utilize lounge access, hotel status, and travel credits, you’re paying for value you won’t extract.
This card makes sense for travelers taking 4+ trips annually. For less frequent travelers, the Cobalt Card delivers better value despite lower earning rates on non-food purchases.
3. TD Aeroplan Visa Infinite Card
Who It’s Best For: Loyal Air Canada customers and those who prefer the simplicity of earning directly into Aeroplan.
The TD Aeroplan Visa Infinite Card offers straightforward earning into Canada’s largest loyalty program. If you fly Air Canada regularly and want to avoid the complexity of transfer partners, this card provides a direct path to award flights.
Earn Rates That Matter:
The earning structure rewards Air Canada loyalty:
- 1.5 Aeroplan points per dollar on Air Canada purchases, Aeroplan eStore purchases, and eligible grocery, gas, and drugstore purchases
- 1 Aeroplan point per dollar on all other purchases
At 1.4 cents per Aeroplan point, that’s a 2.1% return on bonus categories and 1.4% on everything else—respectable but not exceptional.
The card also offers a 25% discount on in-flight purchases and priority check-in, baggage handling, and boarding on Air Canada flights—benefits that enhance the Air Canada experience.
Annual Fee and Welcome Bonus:
The annual fee is $139, with the first year often waived during promotional periods. The welcome bonus typically offers 50,000 Aeroplan points after meeting spending requirements—worth $700 in travel value.
Additional benefits include a yearly Buddy Pass offering companion discounts on Air Canada flights, adding tangible value for couples or families.
One Clear Downside:
The earning rates are mediocre compared to premium cards like the Cobalt. Earn 1.5 Aeroplan points per dollar on groceries (2.1% return), and you’re getting less than half the value of the Cobalt Card’s 5 Membership Rewards points per dollar (10.5% return).
This card works best as a complement to higher-earning cards, used specifically for Air Canada purchases to maximize the 1.5x rate and access companion benefits.
4. CIBC Aventura Visa Infinite Card
Who It’s Best For: Travelers who want flexibility in redemption options without committing to a specific airline program.
The CIBC Aventura Visa Infinite Card offers a middle ground between airline-specific cards and flexible points programs. Aventura points can be redeemed for flights on any airline, hotel stays, car rentals, or travel packages—providing versatility that airline programs can’t match.
Earn Rates That Matter:
The earning structure targets common spending categories:
- 1.5 Aventura points per dollar on gas, groceries, and dining
- 1 Aventura point per dollar on all other purchases
At 1.4 cents per Aventura point, that’s a 2.1% return on bonus categories and 1.4% on everything else.
The card also offers CIBC Aventura Rewards for Everyday, allowing you to earn points on everyday purchases at participating retailers, potentially boosting your earning rate.
Annual Fee and Welcome Bonus:
The annual fee is $139, with promotional offers sometimes waiving the first year. The welcome bonus typically provides 55,000 Aventura points after meeting spending requirements—worth $770 in travel value.
Additional perks include mobile device insurance, purchase protection, and travel medical insurance—standard benefits for premium cards but valuable nonetheless.
One Clear Downside:
Aventura points offer less value than Membership Rewards points (1.4 cents vs. 2.1 cents), and the earning rates are lower than top-tier cards. You’re essentially accepting lower overall value in exchange for redemption flexibility.
For travelers who book last-minute or prefer boutique hotels not covered by major loyalty programs, this flexibility has merit. For everyone else, higher-earning cards with transfer partners deliver better value.
5. Scotiabank Passport Visa Infinite Card
Who It’s Best For: International travelers who want to avoid foreign transaction fees while earning solid rewards.
The Scotiabank Passport Visa Infinite Card distinguishes itself with no foreign transaction fees—a 2.5% savings on every international purchase. For frequent international travelers, this feature alone can justify the annual fee.
Earn Rates That Matter:
The earning structure emphasizes travel and entertainment:
- 2 Scene+ points per dollar on dining, entertainment, and daily transit
- 1 Scene+ point per dollar on all other purchases
Scene+ points are valued at approximately 1.0 cents each, making the effective return 2% on bonus categories and 1% on everything else—modest compared to premium cards but competitive when combined with no foreign transaction fees.
The card also includes six free airport lounge passes annually through DragonPass, adding value for travelers who don’t have lounge access through other means.
Annual Fee and Welcome Bonus:
The annual fee is $139, with the first year sometimes waived. The welcome bonus offers 40,000 Scene+ points after meeting spending requirements—worth approximately $400 in travel value.
Additional benefits include comprehensive travel insurance, concierge service, and rental car coverage—standard premium card features that provide peace of mind while traveling.
One Clear Downside:
The earning rates are unexceptional, and Scene+ points offer lower value than Aeroplan or Membership Rewards points. You’re trading earning power for the convenience of no foreign transaction fees.
This card makes sense if you spend $5,000+ annually on international purchases (saving $125+ in foreign transaction fees). For domestic-focused spenders, higher-earning cards deliver better overall value.
6. BMO Eclipse Visa Infinite Card
Who It’s Best For: Everyday spenders who want strong earning rates on common categories without complexity.
The BMO Eclipse Visa Infinite Card offers impressive earning rates on everyday purchases, making it an excellent option for those who want simplicity without sacrificing rewards.
Earn Rates That Matter:
The earning structure covers the essentials:
- 5 BMO Rewards points per dollar on gas, groceries, and dining (up to $30,000 combined annually)
- 1 BMO Rewards point per dollar on all other purchases
BMO Rewards points are valued at approximately 1.0 cent each, making the effective return 5% on bonus categories (up to the cap) and 1% on everything else.
The $30,000 annual cap on 5x earning is generous—most households won’t exceed this limit on combined gas, grocery, and dining spending.
Annual Fee and Welcome Bonus:
The annual fee is $120, making this one of the more affordable premium cards. The welcome bonus typically offers 50,000 BMO Rewards points after meeting spending requirements—worth $500 in travel value.
The card also includes comprehensive travel insurance, mobile device insurance, and purchase protection—solid benefits for the annual fee.
One Clear Downside:
BMO Rewards points offer lower value than Aeroplan or Membership Rewards points (1.0 cent vs. 1.4-2.1 cents). While the 5x earning rate is attractive, the lower point value means you’re actually earning less than cards with higher point valuations.
Comparison: Earn 5 BMO Rewards points per dollar on groceries (5% return) vs. 5 Membership Rewards points per dollar with the Cobalt Card (10.5% return). The Cobalt delivers more than double the value on the same spending.
7. RBC Avion Visa Infinite Card
Who It’s Best For: Balanced spenders who want consistent earning across all categories without worrying about bonus categories.
The RBC Avion Visa Infinite Card takes a different approach: instead of high earning rates on specific categories, it offers elevated earning on everything. This simplicity appeals to those who don’t want to track which card to use for which purchase.
Earn Rates That Matter:
The earning structure is straightforward:
- 1.25 RBC Rewards points per dollar on all purchases
RBC Rewards points are valued at approximately 1.4 cents each when redeemed for travel, making the effective return 1.75% on everything—respectable but not exceptional.
The card also offers RBC Rewards for Everyday, allowing you to earn bonus points at participating retailers, potentially increasing your earning rate on specific purchases.
Annual Fee and Welcome Bonus:
The annual fee is $120, with promotional offers sometimes waiving the first year. The welcome bonus typically provides 55,000 RBC Rewards points after meeting spending requirements—worth $770 in travel value.
Additional benefits include mobile device insurance, travel insurance, and purchase protection—standard premium card features that provide value beyond earning rates.
One Clear Downside:
The flat 1.25x earning rate means you’re leaving significant value on the table for high-spending categories. Earn 1.25 points per dollar on groceries (1.75% return), and you’re getting one-sixth the value of the Cobalt Card’s 5x earning (10.5% return).
This card works best for those who value simplicity over optimization or who have diverse spending that doesn’t concentrate in any particular category.
How to Choose the Right Card for Your Spending
The best credit card for earning points depends entirely on your spending patterns and travel goals. Here’s how to make the right choice:
If you spend heavily on groceries and dining: The American Express Cobalt Card is the clear winner. The 5x earning rate on food purchases delivers unmatched value, and the $155.88 annual fee is easily justified by the earning potential.
If you’re a frequent traveler who values premium experiences: The Platinum Card from American Express offers the best combination of earning rates, welcome bonuses, and travel benefits. The $799 annual fee is substantial but justified for those who travel 4+ times annually.
If you’re loyal to Air Canada: The TD Aeroplan Visa Infinite Card provides direct earning into Aeroplan with companion benefits that enhance the Air Canada experience.
If you want redemption flexibility: The CIBC Aventura Visa Infinite Card allows you to book any airline or hotel without being locked into specific programs.
If you travel internationally frequently: The Scotiabank Passport Visa Infinite Card’s no foreign transaction fees save 2.5% on every international purchase.
If you want strong earning on everyday categories: The BMO Eclipse Visa Infinite Card offers 5x earning on gas, groceries, and dining up to $30,000 annually.
If you prefer simplicity: The RBC Avion Visa Infinite Card’s flat 1.25x earning on everything eliminates the need to track bonus categories.
Maximizing Your Points Strategy
The most sophisticated approach? Use multiple cards strategically.
The optimal two-card combination:
- American Express Cobalt Card for groceries, dining, and streaming (5x earning)
- The Platinum Card from American Express for travel purchases (2x earning) and premium benefits
This combination ensures you’re earning at least 2x Membership Rewards points on virtually all spending, with 5x on your highest-spending categories.
The budget-conscious approach:
- American Express Cobalt Card for groceries and dining (5x earning)
- No-fee Visa or Mastercard for merchants that don’t accept Amex
This minimizes annual fees while capturing the highest earning rates on food purchases—typically 40-50% of household spending.
The Canadian Credit Card Market in 2026
The Canadian credit card landscape continues to evolve, with several notable trends:
Increased competition in premium cards: Banks are offering larger welcome bonuses and enhanced benefits to attract high-spending customers. Welcome bonuses of 100,000+ points are becoming standard for premium cards.
Focus on everyday spending categories: Cards are increasingly targeting groceries, dining, and gas—categories where Canadians spend most—rather than just travel purchases.
Enhanced digital features: Mobile wallet integration, real-time spending notifications, and app-based card management are now standard features across all premium cards.
Sustainability initiatives: Several issuers are introducing cards made from recycled materials and offering carbon offset programs for travel purchases.
Your Action Plan
Ready to start earning points? Here’s your step-by-step approach:
Step 1: Calculate your annual spending by category (groceries, dining, gas, travel, everything else).
Step 2: Use the earning rates in this guide to calculate potential points earnings with each card.
Step 3: Multiply points earnings by the point valuation (1.4 cents for Aeroplan, 2.1 cents for Membership Rewards, etc.) to determine actual value.
Step 4: Subtract the annual fee from the total value to determine net benefit.
Step 5: Apply for the card that delivers the highest net benefit for your specific spending patterns.
Step 6: Join our Sunday newsletter to get weekly updates delivered straight to your inbox, ensuring you never miss valuable promotions or limited-time offers.
The Bottom Line
The best credit card for earning points in Canada is the American Express Cobalt Card for the vast majority of consumers. The combination of 5x earning on groceries and dining, 2.1-cent point valuation, and modest annual fee delivers unmatched value.
For frequent travelers who can justify the $799 annual fee, The Platinum Card from American Express offers exceptional welcome bonuses and premium benefits that enhance every trip.
Check out our Newbie’s Guide to equip you with all the basic knowledge you need for racking up the points and travelling the world. Understanding these cards is your foundation for leveraging travel rewards to their full potential.
Your home for smarter travel starts with choosing the right credit card. Make the smart choice today, and you’ll be flying business class to Europe within a year—all while spending less than those who pay cash for economy.
The knowledge is here. The opportunity is waiting. The only question is: are you ready to transform the way you travel?
