Best Visa Cards Canada 2018

Best Visa Credit Cards in Canada in 2019

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Last updated on August 30, 2019 Views: 547 Comments: 4
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Among the credit card processors in Canada, Visa is widely recognized as the biggest. Cardholders can expect that most merchants will accept their Visa card without question, whereas the same cannot be said for processors like American Express. There are some outliers, such as Costco who prefer Mastercard. Regardless, Visa enjoys a healthy lead in market share and regularly makes up over half of global credit card payments by itself, leaving other card issuers to split the rest of the pie.

The universal popularity of the Visa brand can be attributed to the sheer number of best credit cards bearing its logo, which help people all over Canada get more for their money and enjoy a large variety of rewards. Additionally, cutting-edge applications like Visa Checkout help customers and merchants handle payments in new and convenient ways.

Summary of Best Canadian Visa Credit Cards in 2019

Credit CardSpecial Card FeatureAnnual FeeCard ReviewApply for Card
Scotiabank Value Visa11.99% APR
0.99% balance transfer for 6 months
$29Read MoreApply Now
Scotiabank Momentum Visa Infinite10% promotional APR for the first 3 months
4% cash back on gas and groceries
Valuable travel insurance
$120
First year free
Read MoreApply Now
TD Aeroplan Visa Infinite CardSign-up bonus of up to 40000 Aeroplan Miles$120
first year free
Read MoreApply Now
TD Cash Back Visa Infinite*10% promotional cash back on all purchases for the first three months ($2,000 max spend)
3% cash back on gas and groceries
Valuable travel insurance
$120. Plus pay no annual fee the first year.Read MoreApply Now
Home Trust Preferred Card0% foreign transaction fee
1% cash back on all purchases
$0Read MoreApply Now
Scotiabank Scene VisaNo annaul fee
2500 points welcome bonus
5 pts/$ on movies
$0Read MoreApply Now
Scotiabank Momentum No-Fee Visa7.99% purchase interest for their first 6 months
1% cash back on selected categories
$0Read MoreApply Now
Scotiabank GM Visa InfiniteUp to 5% in GM earnings on first $10,000$79Read MoreApply Now
Meridian Visa Infinite* Travel Reward Card3 pts / $1 on foreign purchases
1.5 pts / $1 on all purchases
$99, first year freeRead MoreApply Now

Best Low-Interest Visa

Scotiabank Value Visa

Eligibility Criteria:
– Credit score required: 
fair_good
– Min personal income required: $12000
– Annual fees: $0

There are few obstacles tougher to overcome than high interest, especially if you’re carrying a balance from month to month. It gets harder and harder to chip away at the principal debt when interest continues to accrue, so cards like the Scotiabank Value Visa help people in this situation gain relief.

The purchase interest rate is just 16.99%—much more forgiving that most other cards. The card’s annual fee is only $0, which is far eclipsed by the amount of interest cardholders will save if the card is used properly. Cardholders will also save up to 20.00% off the price of rental cars at Avis.

Aside from the low regular interest rate, the Value Visa enables new cardholders to transfer existing credit card balances, and pay just 3.99% interest on this amount for 6 months. With six months of shelter from the interest they were collecting, cardholders can make serious dents into their debt.

Click here to apply for the Scotiabank Value Visa card

You can learn more about the card by reading our complete Scotiabank Value Visa review.

Best Cash Back Visa

Scotia Momentum Visa Infinite Cash BackScotiabank Momentum Visa Infinite

Eligibility Criteria:
– Credit score required: 
good_excellent
– Min personal income required: $60000
– Annual fees: $

Cash back rewards are some of the most coveted, as few benefits can compete with direct savings. When buying gas or groceries on the Momentum Visa Infinite, cardholders will get an impressive 4% cash back, and for drugstore purchases and recurring bill payments, 2%. Everything else earns cash back at 1%, making it impossible to find yourself in a situation where you don’t earn at least some money back on what you buy.

The card’s annual fee is $120, but new members have this amount waived during their first year if they sign up before October 31, 2019. Additionally, the card boasts the highest introductory cashback rate currently on the market, awarding % on everyday purchases in the first months, up to a total of $ cash back (or $up to a maximum spend of $2,000 in the first 3 months). That’s $299 total value, obtainable in no time at all.

At a post-promo rate of 4% cash back on gas and groceries, cardholders can earn $240 more in annual cash back just by charging $500 per month in these categories. This is easily worth the annual fee, but Scotia also offers a valuable travel insurance package to sweeten the deal. It comes with travel emergency medical, trip interruption, baggage, and rental car insurance as well.

Click here to apply for the Socitabank Momentum Visa Infinite card

You can learn more about the card by reading our complete Scotiabank Momentum Visa Infinite card review.


TD Cash Back Visa InfiniteTD Cash Back Visa Infinite* Card

Eligibility Criteria:
– Credit score required: 
good_excellent
– Min personal income required: $60000
– Annual fees: $120 

This offer is not available for residents of Quebec. For Quebec residents, please click here.

Generally we recommend choosing a credit card based on its everyday, long-term potential, but sometimes an amazing promotion can push a card above its competition. The TD Cash Back Visa Infinite* combines both concepts. Those who apply for a new card before December 1, 2019 will enjoy a huge 10% promotional cashback rate on all their eligible grocery, gas and recurring bill payments for the first 3 months of card ownership, up to a maximum spend of $2,000. That means you could earn $200 in that time period—easily more than the cost of the card’s annual fee.

We don’t recommend nixing the card after the promo period ends, though. Once you’ve passed your first 3 months, you’ll still enjoy a 3% cash back rate on eligible gas, groceries, and recurring bill payments, plus 1% on all other purchases. What’s more, the TD Cash Back Visa Infinite* comes with baggage insurance, travel medical insurance, auto rental loss or collision coverage, and free membership to the Deluxe TD Auto Club for auto assistance.

Click here to apply for the TD Cash Back Visa Infinite* card

Best Visa Sign-Up Bonus

Carte Visa Infinite TD AéroplanTD Aeroplan Visa Infinite Card

Eligibility Criteria:
– Credit score required: 
good_excellent
– Min personal income required: $60000
– Annual fees: $120

For the Visa with the most impressive introductory bonus, there’s no arguing against the TD Aeroplan Visa Infinite card. Thanks to a terrific up front bonus, you will be entitled to a whopping 40000 Aeroplan Miles. That’s an approximate travel redemption value of $560, but you’ll also receive another $120 of value courtesy of a first-year annual fee rebate. Just the introductory perks alone are worth the equivalent of about $680.

To obtain the full 40000 Miles, you need to hit three markers. New cardholders get 15,000 Miles after a first purchase 2X Aeroplan Miles on eligible Purchases in the first three months up to a total of 20,000 Miles and another 5,000 Aeroplan Miles when you add an authorized user before December 1, 2019. The TD Aeroplan Visa Infinite card collects 1.5 Aeroplan Miles per $1 spent on eligible grocery, gas, drugstore and aircanada.com purchases, 1 Aeroplan Mile per $1 spent on all other purchases, and other great perks. You’ll enjoy the once-yearly free entry into the Maple Leaf airport lounge, for example, plus some of the best travel insurance around.

Click here to apply for the TD Aeroplan Visa Infinite Card

You can learn more about the card by reading our complete TD Aeroplan Visa Infinite review.

Best No Foreign Transaction Fee Visa

Home Trust Preferred VISA LightHome Trust Preferred Card

Eligibility Criteria:
– Credit score required: 
fair_good
– Min personal income required: $15000
– Annual fees: $0

Foreign transaction fees, which are charged on each purchase not made in Canadian dollars, can silently escalate the expenses of a vacation or business trip. The average fee runs around 2.50% per foreign transaction, so cards that either waive or subsidize these fees are essential companions for frequent travellers. The best Visa credit card for the job is Home Trust’s Preferred card, which has the straightforward benefit of not charging these fees for any foreign transactions whatsoever. Cardholders also earn 1% cash back on all their purchases, whether in CAD or any other currency.

Though it does suffer from some minor hiccups, such as a limit of 10 transactions per day, the addition of comprehensive roadside assistance and rental car insurance make it worthwhile. Purchase protection and extended warranties further solidify the deal, and it’s all offered for no annual fee.

Click here to apply for the Home Trust Preferred card

You can learn more about the card by reading our complete Home Trust Preferred card review.

Best Student Visa

scotia scene visaScotiabank SCENE Visa

Eligibility Criteria:
– Credit score required: 
fair_good
– Min personal income required: $12000
– Annual fees: $0

Students typically have less discretionary income and a limited budget to work with compared to the average Canadian, so they need a credit card that’s inexpensive to hold yet still offers relevant benefits. The Scotia Scene Visa answers this call confidently, with a $0 annual fee and bonus that earns new cardholders 2500 points for a minimum spend of $500 in the first 3 months. Its income requirement of $12000 is flexible for students, and will help them entertain themselves more frugally by earning 5 points per dollar at a wide range of movie theatres: Cineplex, Scotiabank Theatres, Famous Players, Galaxy, Cinema City, SilverCity and more.

Everywhere else, the card collects points at the standard rate of 1 per dollar.

Click here to apply for the Scotiabank Scene Visa card

You can learn more about the card by reading our complete Scotiabank SCENE Visa card review.

Best No Annual Fee Visa

scotia momentum no feeScotiabank Momentum No-Fee Visa

Eligibility Criteria:
– Credit score required: 
fair_good
– Min personal income required: $12000
– Annual fees: $0

It’s never fun to pay for the privilege of using your credit card, but that’s exactly what annual fees are. Accordingly, one of the most upfront credit card benefits around is simply to issue cards without an annual fee, and the best of these processed by Visa is Scotiabank’s Momentum No-Fee Visa. It lives up to its name by charging no annual fee and yet still allowing cardholders to accrue cash back on all their purchases. At gas stations, grocery stores, drugstores and on recurring bills, cash back comes at 1%, with 0.5% earned on all other purchases.

There’s also a special introductory bonus, offering new cardholders 7.99% interest on purchases for their first 6 months. For those who are planning a big expense and may need to carry it between monthly statements, this could come in handy. Topped off with discounts of up to 20.00% on rental cars at AVIS, Scotiabank offers yet another valuable Visa card with their Momentum No-Fee deal.

Click here to apply for the Scotiabank Momentum Visa No Fee card

Best Lifestyle Rewards Visa

Scotiabank®-GM® VISA Infinite CardScotiabank GM Visa Infinite

Eligibility Criteria:
– Credit score required: 
fair_good
– Min personal income required: $60000
– Annual fees: $79

The Scotiabank GM Visa Infinite card offers new applicants up to 5.00% in GM Earnings on their first $10,000 in annual spending. After the promotion, they earn at a rate of 2.00%. GM Earnings have a high-value equivalency—with $1 in GM Earnings the same as $1 off the purchase price or lease down payment of a new Chevrolet, Buick, Cadillac, or GMC vehicle.

The best part is that there are no earning caps or limits on the number of points you can redeem at once, and they will never expire. With diligent use, the card will attain a sizeable discount on a new car or truck from GM in a few years. Lastly, when cardholders eventually get their dream vehicle, they’ll enjoy travel medical, rental car, trip interruption insurance, and other protective benefits.

Click here to apply for the Scotiabank GM Visa Infinite card

You can learn more about the card by reading our complete Scotiabank GM Visa Infinite card review.

Best Travel Visa

Meridian Infinite Travel RewardsMeridian Visa Infinite* Travel Reward Card

Eligibility Criteria:
– Credit score required: good_excellent
– Min personal income required: $60000
– Annual fees: $99

Despite its $99 annual price tag (free in the first year), the Meridian Visa Infinite Travel Rewards card delivers substantial value with a best-in-class variety of insurance benefits, plus a fast 1.5 points per $1 rate of rewards that is accelerated to 3 points per $1 spent when one makes purchases in a foreign currency. Besides the ability to quickly earn flexible travel rewards and defray foreign transaction fees, another standout feature is its mobile device insurance. This covers phones and tablets for up to $1,000 if they’re lost, damaged, stolen, or simply aren’t working—a relief for travellers worrying how their new device will fare on an upcoming trip.

Other insurance covers medical emergencies as well as trip interruptions and cancellations, baggage, rental cars and more. Total coverage for travel medical needs is among the best in the industry, at $5 million and up to 48 consecutive days for those under age 75. For its ability to save on exorbitant foreign transaction fees, to prevent cardholders from paying out-of-pocket to replace a mobile device, and more, Meridian offers one of the best available Visas for travel.

Click here to apply for the Meridian Visa Infinite* Travel Reward Card

Didn’t Find the Visa for You?

If none of the cards on this expansive list piqued your interest, feel free to comment below or email us with your specific criteria and we’ll be glad to make specific recommendations.

 

Article comments

4 comments
Scott D says:

Have you done a comparison on the Scotia Bank More Rewards Visa? I would like to know if it compares to other travel awards cards.

The GreedyRates Team says:

Hey Scott,

Thanks for the great comment. We haven’t done much research into the Scotia More Rewards card or the More Rewards program since Scotia won the More Rewards exclusivity deal way back when. It seems as though the card was removed from Scotia’s website, however, so we’re not sure if it’s still offered. Either way, from the information we have collected about the card, it is (or was) a solid rewards-gathering tool on most purchases, but if you wanted to spend your rewards outside of travel, then their relative value diminished significantly.

If you’re looking for a more mainstream rewards credit card with great support and good value no matter what you’re redeeming your rewards on, then opt for a card like the BMO Rewards Mastercard. This is a card in the same tier, offering a flat rate of BMO Rewards of 1 point per $1 spent, a 20,000-point introductory bonus, and the ability to spend your points at similar relative value in multiple categories (merchandise, travel, etc.) If you’d like to expand upon your preferences a bit and let us know anything else relevant, we can provide more suitable suggestions. Email us at info@greedyrates.ca! Thanks.

GreedyRates

JD Campbell says:

I wouldn’t pick Scotia bank value visa as top. The rbc low interest annual fee is cheaper, less interest at 11.99 and offers purchase protection which I don’t think the Scotia does. Am I wrong on this ?

The GreedyRates Team says:

Greetings JD,

Thanks for your commentary about our article on the best Visa cards in Canada this year. Obviously, the “best” card is always subjective, and entirely dependent on the personal preferences of the cardholder, but it’s good to know why you consider the RBC Visa Classic Low Rate Option a better alternative to Scotia’s Value Visa card. You’re correct that the RBC card’s annual fee is lower for the same interest rate (you’ll pay $20 per year with RBC instead of $29 to Scotia), but one thing you forgot to mention was the balance transfer promotion provided by Scotia currently.

That extra $9 means that new cardholders have the option to transfer a balance from their old credit card or loan and pay a low rate of 0.99% on it for 6 months. While some applicants will find it irrelevant, many will not, and this alone puts it leagues ahead of RBC’s card in our eyes. It’s simply more relevant to more Canadians, but again, entirely circumstantial. Another consideration in favor of Scotiabank is that its card gives you 20% off at Avis car rental branches. In the end, pick whatever works best for you, and the differences are negligible enough to justify either of the cards, if you aren’t picky. Best of luck with your choice.

GreedyRates