Hi folk, and welcome my 5 Best Credit Cards in Canada selections for my fellow Canadians.
It always surprises me how many people miss out on the numerous benefits of many credit cards.
Because your money is being spent regularly on your current credit card, or god forbid, on your debit card.
Which probably doesn’t give you many benefits, except purchase protection and some minor cashback?
Because your first-time offer most likely had expired a long time ago if you ever got one in the first place.
Credit card churning is a great way to make anywhere from a few hundred bucks to thousands of dollars or earn enough points for free international trips for essentially doing nothing.
You are just relocating your monthly spending from one credit card to another.
Don’t forget to pay off your balance in full right away at all times, basically treating it like a debit card.
So that way, you will get nothing but benefits from your credit card.
Now, banks hate customers who use this strategy, but we will love it because you and I are about to squeeze as much money as possible.
I did that four times last year, which made me about $1500in welcome offers without much effort.
Not a huge amount of money. I know, but hey, that’s only counting. The welcome offers that I’ve got, I’m not even talking about the points I redeemed for travel or about accumulated cash back.
This is exactly why credit cards are a better choice from a financial standpoint than debit cards.
Plus, you’re also being insured against fraudulent transactions and many other things as each credit card have many different insurance policies, so overall, it’s better than any debit card.
Let’s discuss The 5 BEST Credit Cards for EVERYONE in 2023 with Insane Offers, Cash Back, and Free Travel!
You don’t need to have a high income or spend lots of cash to get those benefits.
I’ve selected the best offers that don’t require much effort to get the cash.
American express cobalt card
The first one is one of my favorites: the American express cobalt card. Now there are a few things that I love about that particular card.
It’s great for people with active lifestyles, as you can get five times the points when you eat out, get your coffee, or order in.
You also get three times the points on your streaming: services like Netflix, Amazon prime, YouTube premium subscription, and so on.
You also get double the points on your travel and transit, which is pretty impressive.
In the first year of using an American express cobalt card, you will get up to five hundred dollars in points that you can redeem towards any statement on your card.
Interestingly, the bible tried to copy American express and lodge its card for Gen-Z and millennials with similar features.
It’s the same card I also like, but we’ll talk about it later because it has a less impressive welcome offer.
So, back to Amex to get the maximum out of your cobalt card. You must spend at least three thousand dollars in the first three months.
This will earn you 200 volume points that you can redeem toward any of your purchases, and then you’ll get $25 each month when you spend over $500 on your card.
It totals an additional $300, which gives you $500 in the first year. This is pretty great.
Aside from that, you will also get cool features like baggage delay and loss insurance, car rental, Flight delay, Travel accident, emergency medical insurance, and even Mobile coverage.
So let’s say: if you break your phone or lose it, you will get your reimbursement to get a new one, and that’s pretty cool.
Now, there’s a monthly fee of $13. But if you’re looking for a no-fee credit card, wait a little; we’ll also discuss those.
The cobalt card is very easy to get as it doesn’t require a high income from you to apply for it, and you will get a response in less than 60 seconds after applying.
If you want to know more about the American express cobalt card, read the detailed review.
SimplyCash Card from American Express
Next, my second favorite card is SimplyCash Card, also from Amex.
The best thing about this card is that you can get $10 cash back and all of your purchases in the first four months up to $400.
So if you spend $1000 monthly on your card, you’ll get $100 in cash back.
And after four months, you’ll get 2% cash back on all purchases.
There’s no limit on how much money you can earn, which is pretty impressive.
This card has many premium features, just like the previous one, but no mobile coverage this time.
There are also no minimum income requirements, and the annual fee for that card is quite low, only 99 dollars per year.
BMO eclipse visa infinite card
The third card is the one I mentioned earlier: the BMO eclipse visa infinite card, pretty much the main competitor to my first selection.
It gives you quite an impressive welcome promo, as you can get up to 70000 BMO points worth approximately $500.
Which you can redeem on any statement or get some items of your choice in the rewards section,
But there’s a catch. You would need to spend three thousand dollars in your first three months to get the first 40,000 points, approximately $270.
And you will get another 30,000 points only when you spend 25,000 in your first year, which is unrealistic for many people.
I placed that card after Amex because it’s less impressive than the cobalt card.
You will also get 50 lifestyle credits yearly when you use that card and a $120 annual Fee waived in your first year. This brings it up to $640 in total value.
When it comes to cool features, you get mobile device insurance that covers you for up to a thousand dollars, which is quite good.
The card earns five times the points on groceries, dining gas, and transit, which is also perfect for people with active lifestyles.
I’ve been using the BMO eclipse visa infinite card since December of last year, and so far, I have pretty good experience with it, though I have not received my 40k in points just yet.
Also Read: Wells Fargo Autograph Card Review
Aeroplan visa infinite card
Regarding travel, I would say that the TD Aeroplan visa infinite card is the best choice in Canada.
Let’s see why?
First, it’s really easy to get $500 worth of points that you can use towards your flights with Air Canada, both domestic and international.
All you would need to do is to make your first purchase with the card to get your first 10,000 points, and then, when you spend over a thousand dollars in your first three months, you will get an additional 15,000 points.
I am totaling 25,000 points that have over dollars worth.
You will also get a body pass, 350 dollars worth, and a nexus credit, approximately 100 dollars worth; to conclude, you will receive over a thousand dollars value towards your travel. The conditions are the easiest I’ve seen so far on any credit card.
As you only need to spend a thousand dollars to get your points.
Now, I also must mention that the ABC has the same card, Aeroplan, and infinite visa.
But their promotional offer is a welcome offer that is slightly less appealing. So I decided to skip that one.
Otherwise, it’s the same card, insurance package, and promotional offer.
But again less appealing compared to the TD option.
And the final two selections are the best choice for those who don’t want to pay any annual fees at all and prefer the card to be flexible regarding cash back rewards.
Century in money back credit card
The next one is a century in money back credit card, allowing you to earn two percent cash back on purchases into categories of your own choice while earning half percent on all other purchases.
And you know for no Fee credit card, two percent cash back – is sure impressive.
The card is super flexible, allowing you to change your two percent cash back categories at any time to suit your spending best.
BMO cash back credit card
The Last no-fee annual card is the BMO cash back credit card, which, I would say, is the best and one size fits all kind of card.
Like the super generic one, you get Five percent in cash back in your first three months, though your maximum reward would not exceed 125 dollars, which is not too much.
After that, you will get three percent cash back on your groceries, which is awesome for no annual fee card.
One percent back on your bill payments and a half percent on everything else.
Anyway, that’s it for the 5 BEST Credit Cards for EVERYONE in 2023 (Canada), and even though Canadians don’t have as many Great offers as Americans do, they still get some excellent deals.
Also Read Capital One Venture Rewards Credit Card Review
[…] Also Read: 5 Best Credit Cards in Canada […]