Canada’s top banks, including RBC (Royal Bank of Canada), TD (Toronto-Dominion Bank), and Scotiabank, offer a variety of credit cards that cater to different needs, from earning rewards to saving on interest rates. In this article, we will compare the leading credit card options from these three financial institutions to help you decide which card is best suited for your spending habits and financial goals.
1. Royal Bank of Canada (RBC)
RBC offers a diverse selection of credit cards that focus on providing great value in the form of rewards, cashback, and travel perks. RBC’s credit cards cater to various needs, whether you’re a frequent traveler, someone who prefers cashback, or a new credit user.
Key Credit Cards from RBC:
- RBC Avion Visa Infinite: A premium travel rewards card offering RBC Avion points, which can be redeemed for flights, hotels, car rentals, and more.
- Annual Fee: $120 (first year waived)
- Rewards: 1 RBC Avion point per dollar on everyday purchases, 1.25 points per dollar on travel purchases.
- Key Perks: Complimentary access to airport lounges, comprehensive travel insurance, and priority boarding with certain airlines.
- Best for: Frequent travelers who want flexibility in redeeming rewards for travel.
- RBC Cash Back Mastercard: A great card for those who want cashback on everyday purchases without paying an annual fee.
- Annual Fee: $0
- Rewards: 1% cashback on all purchases, 2% cashback on grocery and gas purchases for the first three months.
- Key Perks: No annual fee, flexible rewards redemption.
- Best for: Those who want straightforward cashback rewards with no annual fee.
Why Choose RBC:
- Strong rewards program for travel and cashback.
- Access to premium travel perks, such as airport lounge access.
- Easy-to-use mobile app and online banking.
2. TD Canada Trust
TD offers an impressive range of credit cards that cater to those who want to earn cashback, travel rewards, or low-interest options. TD’s cards come with valuable rewards programs and flexible benefits.
Key Credit Cards from TD:
- TD Aeroplan Visa Infinite Card: A top choice for Air Canada flyers, offering Aeroplan miles that can be redeemed for flights, upgrades, and travel-related rewards.
- Annual Fee: $139 (first year waived)
- Rewards: 1.5 Aeroplan miles per dollar on eligible grocery, gas, and drugstore purchases, 1 mile per dollar on all other purchases.
- Key Perks: Comprehensive travel insurance, access to Air Canada’s airport lounges, and a welcome bonus of 20,000 Aeroplan miles after meeting the spending threshold.
- Best for: Frequent travelers and Air Canada customers.
- TD Cash Back Visa Infinite Card: A solid choice for cashback enthusiasts, offering great cashback rates on common spending categories.
- Annual Fee: $120 (first year waived)
- Rewards: 3% cashback on groceries, 1% on all other purchases.
- Key Perks: Travel and purchase protection insurance, access to concierge services, and no foreign transaction fees.
- Best for: Those who want high cashback on everyday purchases and comprehensive insurance.
Why Choose TD:
- Offers a range of credit cards with attractive sign-up bonuses.
- Good for travelers and those who spend heavily on groceries or dining.
- Strong rewards program with a focus on flexibility and value.
3. Scotiabank
Scotiabank’s credit cards are known for their flexibility, excellent rewards programs, and low-interest options. Whether you want to earn cashback, collect travel points, or access premium benefits, Scotiabank has options to suit your needs.
Key Credit Cards from Scotiabank:
- Scotiabank Gold American Express Card: One of the best travel rewards cards in Canada, offering generous points on everyday spending, particularly for travel-related expenses.
- Annual Fee: $120
- Rewards: 5 points per dollar on grocery, dining, and entertainment purchases, 3 points per dollar on gas, transit, and streaming services.
- Key Perks: No foreign transaction fees, comprehensive travel insurance, and access to American Express Global Lounge Collection.
- Best for: Frequent travelers who spend a lot on dining and entertainment.
- Scotiabank Momentum Visa Infinite Card: A great option for cashback lovers, offering a competitive rate on popular spending categories.
- Annual Fee: $120 (first year waived)
- Rewards: 4% cashback on grocery store purchases, 2% on gas and recurring bills, 1% on all other purchases.
- Key Perks: Comprehensive purchase protection, travel insurance, and access to VIP experiences through Scotia Rewards.
- Best for: Those who want high cashback in everyday categories like groceries and gas.
Why Choose Scotiabank:
- Excellent rewards structure, especially for travel and cashback.
- Access to American Express benefits with the Gold American Express Card.
- Great insurance coverage for travelers and shoppers.
Comparison of RBC, TD, and Scotiabank Credit Cards
| Bank | Card Name | Annual Fee | Rewards | Key Perks | Best For |
| RBC | RBC Avion Visa Infinite | $120 | 1 RBC point per dollar, 1.25 on travel | Airport lounge access, travel insurance, priority boarding | Frequent travelers who prefer flexible travel rewards |
| RBC Cash Back Mastercard | $0 | 1% cashback on all purchases, 2% on groceries/gas | No annual fee, cashback on all purchases | Simple cashback seekers | |
| TD | TD Aeroplan Visa Infinite | $139 | 1.5 Aeroplan miles per dollar (groceries/gas) | Comprehensive travel insurance, Air Canada lounge access, welcome bonus | Air Canada travelers and those seeking Aeroplan rewards |
| TD Cash Back Visa Infinite | $120 | 3% on groceries, 1% on all other purchases | Concierge service, purchase protection, no foreign transaction fees | High cashback seekers with good travel benefits | |
| Scotiabank | Scotiabank Gold American Express Card | $120 | 5 points per dollar (groceries/dining/entertainment) | No foreign transaction fees, travel insurance, lounge access | Those who spend on dining, entertainment, and travel |
| Scotiabank Momentum Visa Infinite Card | $120 | 4% cashback on groceries, 2% on gas/recurring bills | Purchase protection, travel insurance, VIP experiences | Cashback lovers who spend on groceries and gas |
Conclusion
When comparing RBC, TD, and Scotiabank credit cards, each bank offers a strong selection of cards suited for different types of spenders.
- RBC is best for those who want flexibility with travel rewards and prefer high-value travel benefits, like airport lounge access and premium insurance coverage.
- TD stands out for its great cashback offerings and Air Canada Aeroplan miles, making it a strong option for frequent flyers and cashback earners.
- Scotiabank offers generous rewards for travel and everyday spending, with a focus on dining, entertainment, and groceries. It’s perfect for those who want to earn points and access exclusive benefits, especially for travelers.
Ultimately, the best card for you depends on your spending habits and what benefits are most important to you. Consider your lifestyle, the rewards you value, and the perks you want to make the most of before making your decision.
