Canada’s greatest rewards bank cards 2022

Greatest rewards bank card for Airmiles

BMO Air Miles World Elite Mastercard*

The BMO Air Miles World Elite Mastercard is a must-carry for avid Air Miles collectors. Each buy you make in your card will earn at a fee of 1 Air Mile per $12 spent, and you may get a double the factors boosted on purchases at Air Miles associate shops. New members might be enticed by the beefy bonus. They obtain 2,000 Air Miles after they spend $3,000 within the first three months, plus the annual charge is waived for the primary 12 months.  Extra journey perks on this card embrace a 15% low cost on Air Miles flights in North America with no blackout durations and free membership in Mastercard Airport Experiences supplied by LoungeKey. The cardboard contains insurance coverage that covers you for emergency medical, journey cancellation/interruption and flight delay protection, and there’s additionally automobile rental collision injury waiver protection. This advantages are made much more attractive since you don’t have to cost a whole journey to your card to make the most of these perks—a partial value together with taxes and charges can suffice. 

• Annual charge: $120 (waived the primary 12 months)
• Rates of interest: purchases 20.99%, money advances 23.99%, steadiness transfers 23.99%
• Welcome provide: 2,000 Air Miles
• Earn fee: 1 Air Mile per $12 spent; 3 times the Air Miles for purchases at companions
• Annual earnings requirement: $80,000 or $150,000 a family
• Extra perks: Journey insurance coverage together with emergency medical, journey cancellation/interruption, and flight delay protection; automobile rental insurance coverage; 15% low cost on North American Air Miles flights; free membership in Mastercard Airport Experiences supplied by LoungeKey; different particular presents and reductions

Get extra particulars concerning the BMO Air Miles World Elite Mastercard*

Greatest rewards bank card for versatile rewards

MBNA Rewards World Elite Mastercard*

  If you wish to use your rewards towards several types of merchandise, present playing cards, journey and different redemption gadgets, you’re on the lookout for a versatile rewards card. These sorts of rewards packages don’t restrict you to 1 type of redemption or a single retailer or household of shops. Identical to with different rewards playing cards, earn charges will assist decide the very best of the very best, together with precious perks and advantages. Our decide in for the class of versatile rewards is the MBNA Rewards World Elite Mastercard. The MBNA reward program is the very definition of versatile. You may redeem MBNA factors for merchandise, present playing cards, journey, money and even charitable donations. Money is probably the most versatile reward of all, proper. While you use your MBNA Rewards World Elite Mastercard to make purchases you’ll have a base fee of 1 level per $1 spent, and an accelerated fee of 5 factors per $1 spent on groceries, eating places, digital media, memberships, and family utilities as much as $50,000 per class yearly. While you redeem for journey, that’s a 5% fee of return. Money redemptions are available at 4.15%, a fee that rivals most money again bank cards. Useful extras embrace 10% of the entire annual level earned (to a most of 15,000) within the type of Birthday Bonus factors. A formidable promotion for brand spanking new members is incomes as much as 30,000 MBNA factors. 

• Annual charge: $120
• Rates of interest: purchases 19.99%, money advances 24.99%, steadiness transfers 22.99%
• Welcome provide: Earn as much as 30,000 factors once you make $2,000 in purchases and enroll in paperless statements within the first three months.
• Earn fee: 5 factors per $1 spent on groceries, eating places, digital media, memberships, and family utilities as much as $50,000 per class yearly; 1 level per $1 base fee
• Annual earnings requirement: $80,000 private or $150,000 family
• Extra perks: Journey and automobile rental insurance coverage; MBNA cost plan; 10% factors again in annual Birthday Bonus

Get extra particulars concerning the MBNA World Elite Mastercard*

Extra about Canada’s greatest bank cards

Our methodology

For the very best rewards bank cards 2022 rating, MoneySense tapped into Ratehub.ca’s‡ bank card software and ran the numbers for money again and journey bank cards, based mostly on $2,000 in month-to-month spending. We made the next assumptions: grocery spend of $500, gasoline of $200, eating places of $200 and invoice funds of $125, journey of $175, leisure of $225, pharmacy purchases of $75 and all different purchases of $500.

The tip recreation was a magic quantity—that’s, the annual internet reward in greenback phrases to determine the highest playing cards in every class, plus an honorary point out. Our methodology additionally took into consideration different elements, together with welcome bonuses and accelerated earn charges, annual charge waivers, loyalty program flexibility and journey insurance coverage perks.