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Canada’s Best Visa Credit Cards 2020

November 20, 2020 Keph Senett


For new cardholders there’s a bonus of up to 60,000 points, which is a travel value of up to $300 when redeemed online at ExpediaforTD.com. In addition to the sign-up incentive, this card gets first pick for its flexibility. Rewards can be applied to any travel expense—not just flights.

  • Annual fee: $120 (rebated for the first year, along with $50 fee for first additional cardholder)
  • Welcome bonus: Up to 60,000 TD Points when you make your first purchase
  • Earn rate: 9 TD Points per $1 on travel booked online through Expedia; 6 TD Points per $1 for travel booked on the phone through Expedia; and 3 TD 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
  • Minimum income requirement: $60,000 or a minimum household income of $100,000

Get more details on the TD First Class Travel Visa Infinite*


Best airline Visa card

TD Aeroplan Visa Infinite*

Aeroplan is one of the largest travel rewards programs in Canada—and with a recent refresh, launched in November 2020, now is a great time to reconsider the card in your wallet. Travel rewards are hugely popular and finding the best program can be confusing. However, if Air Canada is your airline of choice, things just got a whole lot easier. That’s because with the TD Aeroplan Visa Infinite, you’ll get a bunch of Air Canada perks like preferred pricing that can get you a better deal on Air Canada when booking travel with points, and a free first checked bag on Air Canada for you and up to eight travel companions. New cardholders can take advantage of a massive welcome bonus that includes the ability to score a Buddy Pass so a friend can travel with you, for free, 10,000 Aeroplan points when you make your first purchase, plus an annual fee rebate for the first year. 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 (rebated first year)
  • Welcome bonus: 10,000 Aeroplan points when you make your first purchase, and a Buddy Pass when you spend $1,000 within the first 90 days. Plus, for a limited time, earn 1.5 bonus Aeroplan points for each $1 spent on eligible purchases at participating Starbucks locations
  • 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, and ability to earn a Buddy Pass make this a very attractive card
  • 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
  • Minimum income requirement: $60,000

Get more details on the TD Aeroplan Visa Infinite*


Best no fee Visa card for rewards

Simplii Financial Cash Back Visa

For a no fee card, this Visa comes with some great rewards. You’ll earn 4% on the first $5,000 you spend at restaurants, bars and coffee shops; 1.5% on the first $15,000 spent on gas, groceries and at drugstores; and 0.5% on everything else, with no limit. The welcome offer is very generous, with 10% cash back at restaurants and bars for the first four months (on spends up to $500). However, each of the bonus categories has a cap, meaning that earns exceeding the cap amount drop down to the base 0.5% rate. Note that you must currently hold a Simplii financial bank account to qualify for the card. 

  • Annual fee: $0
  • Welcome bonus: 10% cash back at restaurants and bars during the first 4 months up to a $500 spend
  • 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
  • Minimum income requirement: $15,000 

Best Visa card for no foreign transaction fees

Home Trust Preferred Visa*

For travellers and cross-border shoppers, a card that doesn’t charge foreign transaction fees is a revelation. Most credit cards apply a surcharge of 2.5% to 3% in foreign transaction fees on top of the currency exchange, bumping up your cost for products and services purchased in different currencies. With that surcharge out of the way, you’re already saving—but the Home Trust Preferred Visa goes one better. It lets you earn 1% cash back on all purchases in Canada. And the card has no annual fee, so you keep more of your money in your wallet.

  • Annual fee: $0
  • Earn rate: 1% on all purchases in Canada 
  • Additional benefits: Roadside Assist membership; car rental collision insurance; purchase security
  • Minimum income requirement: $15,000

Get more details on the Home Trust Preferred Visa*



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