Canada’s best Visa credit cards 2023

Canada’s best Visa credit cards 2023

Canada’s best Visa credit cards 2023

By Keph Senett on May 30, 2023
Estimated Reading Time: 19 minutes

As the largest credit card company in the world, Visa is a solid choice for any Canadian wanting the assurance of wide acceptance and access to a variety of programs and products. Plus, if you already bank with RBC, CIBC, Scotiabank or another Visa issuer, a Visa card is a way to keep your financial services “in the family.” Whatever your reasons for considering Visa, this guide will help you find a credit card that fits your lifestyle.


Best overall Visa credit card

BMO eclipse Visa Infinite*

At a glance: Maximize the power of your everyday spending with strong earn rates on BMO Rewards points that you can redeem for merchandise or gift cards, travel, statement credits or investments. Good perks—like the juicy annual $50 “lifestyle credit,” earned for simply exceeding that amount on one of your monthly statements, and included mobile device and travel insurance—round out the package.

  • Annual fee: $120
  • Interest rates: 20.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers
  • Welcome bonus: You can earn up to 70,000 points ($467 value), 5 times the points on gas, dining, groceries and transit for the first year, and 10% more points when you add an authorized user. Also, earn a $50 lifestyle credit.
  • Earn rate: Five times the BMO Rewards points for every $1 spent on dining in and out, groceries, and gas and transit for the first $50,000 in annual purchases; 1 BMO Rewards point for everything else; earn 10% more points when you add an authorized user
  • Our favourite features: $50 lifestyle credit every year
  • Additional benefits: Annual lifestyle credit worth $50; mobile device coverage; car rental collision/loss damage protection; out-of-province/country emergency medical; Visa Infinite privileges
  • Annual income requirement: Personal income of $60,000 or household income of $100,000

Pros

  • Offers boosted earn rates in top categories like groceries, gas and dining.
  • Includes travel insurance and new mobile device coverage.
  • Get 10% more Rewards points when you add an authorized user (for $50 annually).
  • Cardholders get an annual $50 statement credit to spend however they wish.

Cons

  • There is an annual cap of $50,000 in purchases for boosted spend categories; after that, you’ll earn at a rate of 1 BMO point per $1 spent.
  • The minimum income requirements put this card out of reach for some.

Best Visa credit card for cash back

Scotia Momentum Visa Infinite*

Scotia Momentum Visa Infinite

At a glance: The Scotiabank Momentum Visa Infinite is our pick for best cash back Visa for its robust purchase and travel protection, as well as its high earn rate—4% on groceries and recurring bills, 2% on gas and daily transit (including public transit, taxis and rideshares) and 1% on everything else.

  • Annual fee: $120
  • Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
  • Welcome bonus: You can earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on additional cards. Offer ends June 30, 2023.
  • Earn rate: 4% on gas and recurring bills; 2% on gas and daily transit; 1% on everything else
  • Additional benefits: Mobile device insurance, travel emergency medical and travel accident coverage, car rental damage/loss waiver, flight interruption and delayed and lost baggage insurance; and access to Visa Infinite experiences
  • Annual income requirement: Personal income of $60,000 or household income of $100,000

Pros

  • This card’s earn rates are some of the highest in the country in key and broadly defined spending categories.
  • Included new mobile device, travel and car rental insurance make this an all-around credit card.
  • Pay off larger purchases in installments through Scotia SelectPay.

Cons

  • You can only access your cash back once per year, and only as a statement credit.
  • If you buy your groceries at Walmart, you’ll only get 1% cash back as it isn’t considered a grocery store.
  • The minimum income requirement may put this card out of reach for some.

Best Visa credit card for gas and groceries

CIBC Dividend Visa Infinite

At a glance: Take the sting out of rising prices with the CIBC Dividend Visa Infinite’s return of 4% cash back on gas and groceries, and 2% back on daily transit (including rideshares and public transit), dining, and recurring payments. You’ll also get perks like travel medical and rental car collision insurance.

  • Annual fee: $120
  • Interest rates: 20.99% on purchases, 22.99% on cash advances (21.99% for Quebec residents), 22.99% on balance transfers
  • Earn rate: 4% cash back on gas and groceries, 2% on dining, daily transit and recurring bills, and 1% back on everything else.
  • Welcome bonus: You can earn 15% cash back welcome bonus of up to $300 (first 4 statements).
  • Additional benefits: Emergency travel medical; car rental collision and loss damage insurance; mobile device insurance; plus save up to $0.10 per litre at participating Chevron, Ultramar and Pioneer gas stations when you link your card with Journie Rewards
  • Annual income requirement: Personal income of $60,000 or household income of $100,000

Pros

  • Get your cash back on demand, when you want it.
  • Link your card to Journie Rewards to get deeper discounts on gas at participating Pioneer, Fas Gas, Ultramar and Chevron stations.
  • Send money internationally with CIBC Global Money Transfer and pay no transfer fees.
  • Comes with included travel, car rental and new mobile device insurance.

Cons

  • The included emergency travel medical insurance covers the first 15 days of your trip. You’ll have to buy additional insurance for longer journeys.
  • The minimum income requirement may put this card out of reach for some.

Best Visa credit card for flexible travel rewards

TD First Class Travel Visa Infinite*

At a glance: The TD First Class Travel Visa Infinite Card allows you to earn TD points which you can redeem for rewards, including travel and travel-related purchases. Travel booked with your TD points has no blackouts or seat restrictions, and TD points don’t expire. This card also has included travel insurance.

  • Annual fee: $139 (rebated for the first year).
  • Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
  • Welcome bonus: You can earn up to 100,000 TD Rewards points. Conditions apply. Must apply by September 5, 2023. Plus, you get an annual birthday bonus of 10% of your previous year’s points (up to 10,000 points).
  • Earn rate: 8 TD points per $1 spent when you book travel through Expedia For TD; 6 Points per $1 on groceries & restaurants; 4 points per $1 spent on recurring bills; 2 points per $1 spent on everything else
  • Additional benefits: Travel emergency medical, travel accident, car rental, trip interruption, flight interruption and delayed and lost baggage insurance; access to Visa Infinite experiences; car rental savings with Avis and Budget
  • Annual income requirement: Personal income of $60,000 or household income of $100,000

Pros

  • This card has a strong included insurance package for travel and car rental.
  • In addition to travel rewards, you can redeem your points for everyday perks like cash back, gift cards and more.

Cons

  • Redeeming TD points for travel not booked through Expedia For TD is not automatic. You’ll have to contact the TD Travel Rewards program to use your points.
  • The earn structure is a bit confusing and rewards depend on where and how you book.
  • The minimum annual income requirement will put this card out of reach for some.

Best airline Visa credit card

TD Aeroplan Visa Infinite*

At a glance: If Air Canada is your airline of choice, take a look at the TD Aeroplan Visa Infinite. You get numerous Air Canada perks with this card, like preferred pricing and a free first checked bag on Air Canada for you and up to eight travel companions. The all-new Aeroplan rewards chart and generous stopover policy means you can get great value on your points when redeeming for travel on Air Canada as well as over two dozen Star Alliance partner airlines.

  • Annual fee: $139
  • Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
  • Welcome bonus: You can earn up to 50,000 Aeroplan points. Conditions apply. Must apply by September 5, 2023. Plus, as anniversary bonus, earn 20,000 Aeroplan points when you spend at least $7,500 within 12 months of opening the account.
  • Earn rate: 1.5 Aeroplan points for every $1 spent on eligible gas, grocery and Air Canada purchases, and 1 point per $1 spent on everything else
  • Our favourite features: Comprehensive travel insurance, free checked bags on Air Canada.
  • Additional benefits: Hotel-motel burglary insurance; auto rental collision/loss damage insurance; new mobile device insurance up to $1,000; Nexus application rebate of up to $100 every 48 months
  • Annual income requirement: Personal income of $60,000 or household income of $100,000.

Pros

  • Earn double the points when you provide your card and Aeroplan number at more than 150 Aeroplan partner brands and at 170+ online retailers via the Aeroplan eStore.
  • Earn 50% more Aeroplan points when you shop at Starbucks by linking your Starbucks Rewards account to your TD card.
  • Use your Aeroplan points for every Air Canada seat without restrictions or blackout periods.
  • Redeem your points for other travel expenses like hotel rooms and car rentals.
  • Get an application fee rebate once every 48 months for the quick-customs travel program NEXUS.
  • Includes a comprehensive suite of travel insurance.

Cons

  • The included travel insurance is only for trips of up to 21 days, or only four days if you are over 65 years old.
  • You’re restricted to Air Canada and select Star Alliance airlines.
  • The accelerated earnings rate is only available in three spending categories.

Best no fee Visa credit card for rewards

Simplii Financial Cash Back Visa

At a glance: The no-fee Simplii Financial Cash Back Visa comes with 4% cash back (up to $5,000 annually) on spends at restaurants, bars and coffee shops, making this a winner for those who like to dine out. The 1.5% return on gas, groceries and drugstore purchases (up to $15,000 annually) is also respectable, and everything else earns 0.5% back, with no limit.

  • Annual fee: $0
  • Interest rates: 19.99% on purchases, 22.99% on cash advances
  • Welcome bonus: 10% cash back at restaurants and bars during the first 4 months up to a $500 spend and 9.99% interest rate on purchases for three months
  • Earn rate: 4% cash back at restaurants, bars and coffee shops (up to $5,000 spend); 1.5% back on gas, groceries, drugstore purchases and pre-authorized payments (up to $15,000 spend); 0.5% on all other purchases
  • Additional benefits: Purchase security and extended protection insurance
  • Annual income requirement: Personal or household income of $15,000

Pros

  • There’s no limit on how much cash back you can earn.
  • Get $50 for every referral who opens an account using your unique link.
  • The low minimum annual income requirement makes this a super-accessible card.

Cons

  • There are annual caps on earnings in boosted categories.
  • You have to have a Simplii Financial bank account to get the card.
  • This card doesn’t offer much in the way of extras or perks.

Best Visa credit card for no foreign transaction fees

Home Trust Preferred Visa*

At a glance: The Home Trust Preferred Visa card is one of the few credit cards in Canada that doesn’t charge foreign transaction fees on purchases made in a foreign currency. This makes it highly suitable for travellers and cross-border shoppers looking to save the 2.5% to 3% surcharge they’d get with most credit cards. Additionally, you’ll earn 1% cash back on all purchases made in Canada. And, the card has no annual fee, so you keep more of your money in your wallet.

  • Annual fee: $0
  • Interest rates: 19.99% on purchases, 19.99% on cash advances
  • Earn rate: 1% on all purchases in Canada
  • Welcome offer: You can earn 1% cashback on eligible purchases in Canada, with no caps on cashback earn.
  • Additional benefits: Car rental theft and collision insurance; purchase security
  • Annual income requirement: None

Pros

  • There’s no limit to the amount of cash back you can earn.
  • Save the foreign transaction fees on purchases made in a foreign currency.
  • Includes car rental theft and collision insurance.
  • There’s no minimum annual income requirement so this card is very accessible.

Cons

  • Doesn’t include perks or extras.
  • The earn rate of 1% isn’t competitive with other cards.
  • The cash back rewards are paid out annually in January as a statement credit.

Best Visa credit card for low interest

RBC Visa Classic Low Rate Option

At a glance: For those who are carrying debt, a lower interest credit card is an excellent tool. The RBC Visa Classic Low Rate Option is a fairly no-frills card with a flat 12.99% interest rate on purchases, cash advances and balance transfers. It comes with some partner perks, such as discounts at Petro-Canada gas and free delivery from DoorDash.

  • Annual fee: $20
  • Interest rates: 11.99% on purchases, 11.99% on cash advances, 11.99% on balance transfers
  • Earn rate: N/A
  • Additional benefits: Free additional card; save $0.03 per litre on fuel at Petro-Canada gas stations when you link your credit card to your Petro-Points account; option to save at select retailers, such as Roots, Indigo and The Keg restaurants, through RBC Offers
  • Annual income requirement: None

Pros

  • The low annual fee and no minimum income requirement means this card is accessible to most Canadians.
  • Additional cards are free.
  • Gain access to RBC Offers, which save you money.
  • Earn Petro Points and save on fuel at Petro-Canada.
  • Get 3 months of free delivery plus free delivery on orders of over $15 when you add this card to your DoorDash account.

Cons

  • This card doesn’t come with travel insurance or roadside assistance.
  • There’s no balance transfer promotion to move debt from a higher-interest card.

Best Visa credit card for lounge access

Scotiabank Passport Visa Infinite Card*

Scotia Passport Visa Infinite

At a glance: The Scotiabank Passport Visa Infinite is a premium credit card with a focus on perks. With this card you’ll not only have excellent included travel insurance, but also Priority Pass membership with six free annual lounge passes and free Avis Preferred Plus membership. And you won’t pay foreign transaction fees on purchases made in a foreign currency.

  • Annual fee: $150
  • Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
  • Welcome bonus: You can earn up to $1,100+ in value in the first 12 months, including up to 35,000 bonus Scene+ points. Offer ends 31 October 2023.
  • Earn rate: Three times the Scene+ points on every $1 spent at Sobeys banner stores; two times the points per $1 on groceries at other stores, dining, entertainment, and transit charges; and Scene+ point per $1 on other purchases
  • Additional benefits: No foreign transaction fees; travel insurance including travel emergency medical, trip cancellation and interruption, travel accident; flight and baggage delay, lost baggage, car rental theft and damage, hotel/motel burglary coverage; Priority Pass membership and 6 complimentary airport lounge visits; savings and upgrades on Avis car rentals; Visa Infinite privileges
  • Annual income requirement: Personal income of $60,000 or household income of $100,000

Pros

  • Comes with a comprehensive travel insurance package.
  • You won’t pay foreign exchange fees with this card.
  • Includes six complimentary airport lounge passes.
  • Earn boosted Scene+ points when you shop at Sobeys banner stores.
  • You have access to Scene+ Travel and you can redeem Scene+ points for travel no matter where you book.
  • Get special access and extras to hotel, dining and entertainment experiences through the Visa Infinite program.

Cons

  • The earn rate could be better for such a premium card.
  • There’s no new mobile device insurance.
  • The annual fee of $150 is on the high end for similar cards.
  • The minimum annual requirement will put this card out of reach for some.

Best Visa credit card for travel insurance

Meridian Visa Infinite Travel Rewards

Meridian Visa Infinite Travel Rewards Card

At a glance: The Meridian Visa Infinite Travel Rewards card has the best travel insurance around, especially for Canadians between 65 and 75 years old, who will receive up to 15 days coverage. Whereas most cards offer around $1 million in travel emergency medical, this card comes with $5 million per person for trips of up to 48 days for those 59 and younger, and 23 days for those 60 to 64 years old.

  • Annual fee: $99
  • Interest rates: 19.5% on purchases, 21.99% on cash advances
  • Welcome bonus: None
  • Earn rate: 3 points per $2 spent on all Canadian-dollar purchases and 6 points per $2 on foreign purchases
  • Additional benefits: Travel insurance including up to $5 million in travel emergency medical, up to $2,000 trip cancellation/interruption/delay, baggage delay, lost or damaged baggage, up to $1 million in common carrier travel accident, up to 48 consecutive days of car rental collision/loss damage coverage; up to $1,000 in new mobile device insurance; access to Visa Infinite benefits including 24/7 concierge services and hotel stay upgrades at eligible locations
  • Annual income requirement: Personal income of $60,000 or household income of $100,000

Pros

  • This card offers more coverage with higher limits than other credit cards in Canada and it provides coverage for those up to 75 years old.
  • Includes $1,000 in new mobile device insurance in cose your phone is lost or damaged.
  • This card has a lower than usual annual fee of $99.

Cons

  • You have to log into the third-party site ScoreCard to redeem your points.
  • There aren’t ways to accelerate your rewards points earnings.

Best Visa credit card for roadside assistance

TD Cash Back Visa Infinite Card*

TD Cash back Visa Infinite

At a glance: If you carry the TD Cash Back Visa Infinite, you’re a Deluxe member of the TD Auto Club, so help is only a call away. With this package, you’re entitled to towing, winching, lock-out help, fuel delivery and emergency service calls of up to 200 kilometres. Even better, you’re covered 24/7, no matter which vehicle you’re driving, anywhere in Canada or the U.S.

  • Annual fee: $139 (rebated for the first year.)
  • Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
  • Welcome bonus: You can earn 10% Cash Back on all Purchases for the first 3 months up to a total spend of $2,000. Plus, no Annual Fee for the first year. Conditions apply. Must apply online by September 5, 2023.
  • Earn rate: 3% cash back on gas, grocery and recurring bill payments; 1% on all other purchases
  • Additional benefits: Deluxe TD Auto Club membership; car rental collision loss damage waiver; some medical insurance; mobile device insurance; savings with Avis and Budget car rentals; Visa Infinite benefits
  • Annual income requirement: Personal income of $60,000 or household income of $100,000

Pros

  • Redeem your cash back any time and your cash back dollars never expire.
  • Includes mobile device insurance.
  • Earn 50% more Stars at participating Starbucks stores by linking your card.

Cons

  • The included travel insurance package is incomplete. For example, there is no trip delay, cancellation or interruption protection.
  • The boosted earn rates on groceries and gas aren’t as strong as some other cards in this category.
  • The annual fee of $139 is on the high end for cards in this category.

Best Visa credit card for students

Scotiabank Scene+ Visa card*

scotiabank scene visa card for students

At a glance: The no-annual-fee Scotiabank Scene+ Visa is a great way for low income earners to access the Scene+ program where they can redeem points for groceries, entertainment, dining, and more. The modest $12,000 annual income requirement keeps this card extremely accessible.

  • Annual fee: $0
  • Interest rates: 19.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
  • Welcome bonus: You can earn 5,000 bonus Scene+ points within your first year. Must apply by October 31, 2023.
  • Earn rate: 2 Scene+ points for every $1 spent at Sobeys banner stores and Cineplex; 1 Scene+ point for every $1 spent everywhere else
  • Additional benefits: $10 off participating restaurants when you redeem 1,000 points; 25% off base rates at participating Avis and Budget car rental locations
  • Minimum income requirement: $12,000

Pros

  • You can earn and redeem points on groceries, entertainment, dining, travel and more.
  • Pay off purchases of $100 or more in interest-free installments with Scotia SelectPay.
  • There’s a low redemption threshold of only 1,000 points.
  • Points never expire.

Cons

  • There’s no included insurance at all.
  • With these earn rates, higher-ticket rewards like travel will be difficult to reach.

Honourable mention

Scotiabank Momentum No-Fee Visa

At a glance: With the Scotiabank Momentum No-Fee Visa card, not only do members pay no annual fee, but they’re also given the opportunity to earn 0.5% to 1% cash back on their purchases.

  • Annual fee: $0
  • Interest rates: 19.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
  • Welcome bonus: You can earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Offer ends 30 June 2023.
  • Earn rate: 1% cash back at gas stations, grocery stores, drug stores and for recurring bills; 0.5% on everything else
  • Additional benefits: Free additional cards; up to 25% off on car rentals at Avis
  • Annual income requirement: None

Pros

  • You can earn cash back without paying an annual fee.
  • With no annual fee and no minimum income requirement, this is a highly accessible card.

Cons

  • The earn rates of 0.5% to 1% are lower than many other cards in this category.
  • This card doesn’t come with any insurance.

Our methodology: How we determine the best cards

The MoneySense editorial team selects the best credit cards by assessing the value they provide to Canadians across various categories. Our best Visa credit cards ranking is based on an extensive list of card details and features, including annual fees, interest rates, welcome offers, rewards earn rates, annual income requirements, and perks such as insurance coverage, purchase protection, roadside assistance, rebates, discounts and airport lounge access. We have also considered the pros and cons of each card to help you determine which ones best suit your financial needs. Our rankings are an unbiased source of information for Canadians. The addition of links from affiliate partners has no bearing on the results. Read more about how MoneySense makes money.


More of Canada’s best credit cards:

  • Canada’s best credit cards
  • Canada’s best instant approval credit cards
  • Canada’s best no fee credit cards
  • Canada’s best no foreign transaction fee credit cards
  • Canada’s best credit cards for people with bad credit
  • Canada’s best travel credit cards
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