The 7 Best Visa Cards in Canada of 2023 (Ranked & Compared)
Choosing the best Visa card in Canada is vitally important for managing your personal finances or business expenses. From cash back to travel rewards, the best visa credit cards can help you meet your goals. In this guide, I ranked and reviewed the five best visa cards so you can pick the best one for you.
What should the best Visa Card in Canada have?
The top visa credit cards in Canada should have a combination of these features:
Low or no annual fee
Excellent welcome bonus
Earn rewards points and cash back on purchases
Extra benefits such as purchase security, extended warranty
Travel benefits such as travel insurance & Lounge access
The Best Visa Credit Cards in Canada
Below is a list of the best visa cards in Canada. I have summarized the vital information for each card to help you pick the best visa credit card.
BMO Eclipse Visa Infinite card
Features:
Annual fee: $120 per year
Welcome bonus: up to 60,000 points & the first-year annual fee waived
Rewards points: 5 points on takeout & food delivery, grocery purchases, dining out & gas and transit. 1 point for every $1 spent on all other purchases
Interest on purchases: 20.99%
Cash advances: 23.99% in all provinces other than Quebec, 21.99% in Quebec
My take:
The BMO eclipse visa infinite card is one of Canada’s best visa credit cards. This credit card earns you BMO rewards points that you can use for cash back or a statement credit. With a $120 annual fee, it is on the more expensive side for a credit card. If you sign up for this credit card before July 31, 2023, the annual fee for the first year is waived.
In addition, this card is currently offering a welcome offer of 60,000 points worth over $500. You will get 30,000 points when you spend $3,000 in the first three months and 2,500 points for each subsequent month when you spend at least $2,000 in purchases on your card for 12 months.
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TD First class Travel Visa Infinite card
Features:
Annual fee: $139 per year, $50 for an additional cardholder
Welcome bonus: 145,000 TD rewards points (worth $1,000) and a full annual fee rebate
Rewards points: 8 TD points/$1 on travel, 6 points/1$ on eligible grocery stores & restaurants, 4 points/$1 on recurring bill payments, & 2 points/1$ on all other purchases
Interest on purchases: 20.99%
Cash advances: 22.99%
This is great if you are looking for a credit card for travel rewards. The TD first-class travel visa infinite credit card earns you TD rewards points you can exchange for travel-related benefits such as trips, flights, hotels and car rentals. However, it isn’t easy to exchange these rewards if you are booking a trip through someone other than Expedia.
In addition, the TD first-class travel Visa infinite card has an excellent welcome offer. To claim the reward points in the welcome offer, make your first purchase to get 20,000 TD rewards points and spend $5,000 in purchases within 180 days of account opening to earn 115,000 rewards points.
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Scotia Momentum Visa Infinite card
Features:
Annual fee: $120 per year & $50 per additional cardholder
Welcome bonus: 10% cash-back on all purchases for the first three months (up to $2,000 in total) & the first-year annual fee waived
Rewards points: 4% on groceries and recurring payments, 2% on gas purchases & daily transit purchases, 1% on all other purchases
Interest on purchases: 20.99%
Cash advances: 22.99%
The Scotia Momentum Visa Infinite credit card is an excellent option for anyone that wants a simple cash-back rewards program. By offering 4% cash-back on groceries and recurring payments, this card has one of the most competitive cash-back offers available to Canadians. 2% on gas purchases & daily transit purchases & 1% on all purchases are comparable with the other top options in this list
This credit card has a smaller welcome offer than the other credit cards on this list. 10% cash-back for the first three months sounds great, but it’s capped at $2,000 in purchases or a $200 reward structure. Additionally, if your purchases were eligible groceries or recurring payments, you are only earning an additional 6% as you would have already earned 4%
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TD Aeroplan visa infinite card
Features:
- Annual fee: $139 per year, $75 per additional cardholder
- Welcome bonus: 55,000 Aeroplan points worth $1,500
- Rewards points: 1.5 Aeroplan points earned on eligible purchases, including gas, grocery & Air Canada purchases. One point on all other purchases
- Interest on purchases: 20.99%
- Cash advances: 22.99%
The TD Aeroplan visa infinite credit card is another excellent travel visa credit card. With this credit card, you earn TD Aeroplan points which can be redeemed for travel with Air Canada, Expedia trips, hotels & car rentals. You can also redeem the points for gift cards at Aeroplan-partnered retailers such as Best Buy, Amazon & Apple. Click here for a detailed breakdown of this card, and its rewards structure.
This card currently has a superb welcome offer worth up to $1,500. Earn 10,000 points when you make your first purchase with your new card, 30,000 points when you spend $5,000 within 180 days of account opening and 15,000 points by spending $7,500 within 12 months of account opening. To take advantage of the welcome offer, you need to sign up by May 28, 2023.
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Scotiabank Passport Visa Infinite card
Features:
Annual fee: $150 per year
Welcome bonus: Earn up to $1,300 & the first-year annual fee waived
Rewards points: 3 points/$1 at Sobeys banner stores, 2 points/$1 on dining, movies, & transport. One point/$1 on all other eligible purchases
Interest on purchases: 20.99%
Cash advances: 22.99%
Take advantage of all of the visa infinite benefits available with special extras and access at hotels, entertainment & dining experiences. The Scotiabank passport visa infinite visa credit card is an excellent option to earn travel rewards. This card also comes with comprehensive travel insurance benefits, and no foreign transaction fees are incurred on purchases.
Until April 30, 2023, there is an excellent welcome bonus worth $1,300 or 40,000 points. To qualify, make $1,000 in eligible purchases in your first three months to earn 30,000 points & spend at least $40,000 annually to earn 10,000 points. While this is a great offer, it isn’t easyearning that last 10,000 points is difficult.
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Scotiabank Scene Visa Card for Students
Features:
Annual fee: $0
Welcome bonus: 1,250 bonus points on your first purchase
Rewards: 2x points at Cineplex, Sobeys, Safeways, Foodland and more. 1x point on eligible everyday purchases
Interest on purchases: 19.99%
Cash advances: 22.99%
The Scotiabank Scene Visa Card for students is the best visa credit card available for students. In fact, it earned my top spot for a visa credit card on my list of best student credit cards in Canada. This is the only visa credit card on this list with no annual fee. As with most cards with no annual fee, the rewards rate and welcome bonus are lower.
However, this is an excellent option for students to earn rewards and get additional benefits at Cineplex. For students, this may be your first credit card which will be vital to building your credit score and credit history. Both of these are important for the future to help you qualify for better credit cards, mortgages & personal loans at the lowest interest rate possible.
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RBC Avion Visa Infinite business card
Features:
Annual fee: $175
Welcome bonus: 25,000 points
Rewards points: 1.25 Avion points for every $1 spent
Interest on purchases: 19.99%
Cash advances: 22.99%
The RBC Avion Visa Infinite business card is one of Canada’s best business visa credit cards. While it has a higher annual fee, this aligns with most business credit cards. This card also has extra reporting tools to help you understand your business spend, which can help you to track expenses and make informed business decisions. This made my list of the best credit cards in Canada for a best business credit card.
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Pros of Visa credit cards
Additional benefits & features
Almost all Visa credit cards come with additional benefits like travel insurance, extended warranty & purchase protection. It can be a real lifesaver if you ever end up needing these (and eventually you will).
Widely accepted across Canada
All major Canadian retailers accept Visa cards, and most do not pass on the extra transaction fees to consumers. However, near the end of 2022, Canada passed legislation to let retailers pass these costs on to consumers. By using a Visa credit card, you can be sure your payment will be accepted.
Cons of a Visa card
Most visa cards in this list have higher annual fees than Mastercards but lower rewards rates. In addition, American Express cards typically have higher fees but even higher rewards rates. Visa cards outshine both of these competitors for extra benefits and features. Knowing what you prioritize when selecting a credit card is important.
Issuers of Visa cards
Canadian Visa credit cards are offered by the big banks in Canada, like Scotiabank, TD, BMO & RBC.
Summary
The best visa credit cards in Canada should have excellent rewards, a welcome bonus, and additional benefits and features. After reviewing visa card offers from all of the major banks in Canada, the BMO eclipse visa infinite card has the best combination of a fantastic welcome bonus and earns high rewards in many eligible purchase categories. It also has excellent additional benefits and features, making it the best visa card in Canada.
About the Author
Nick Robert is the founder and creator of Nickrobert.com. I created this website to educate Canadians about everything related to personal finance. As a Chartered Professional Accountant & Chartered Accountant, I have worked with many Canadians to achieve their personal finance goals.
To contact me, you can visit my contact page to email me directly, or you can visit and participate in my subreddit. Let me know about any topics you would like me to cover. If you are interested in guest posting on this website, message me through the contact page.
