Best Credit Cards

Best VISA Credit Cards in Canada For 2019

| Last updated on November 4, 2019
visa cards canada

Visa is a behemoth in the credit card space. It’s the most popular payment network recognized in United States, Canada and in more than 200 countries. Over 95% of the merchants you will encounter as a Canadian will accept Visa card, and some of the best credit cards in the world bear its logo. Visa Credit Cards aren’t just a convenient way to pay for your everyday expenses. They are also loaded with perks and benefits that makes shopping a rewarding experience for your soul and your wallet. Some of these benefits include Zero Liability, Roadside Dispatch and Emergency Card Replacement services.

But not all Visa credit cards are the same. It’s important to know that Visa doesn’t issue any credit cards. It’s merely a payment network. The quality of your Visa Card depends on the issuing bank and the benefits the issuer chooses to load the card with, along with the standard features such as interest rates, fees and reward structure.

In this article, we are going to look at the best Visa Credit Cards available in Canada today.

Summary
Best Overall Canadian Visa Credit Card: TD Cash Back Visa Infinite Card
Best For Travel: TD First Class Travel Visa Infinite
Best For Cash Back: Scotia Momentum Visa Infinite
Best For No Annual Fee: Scotiabank Momentum No-Fee Visa
Best For No Foreign Transaction Fee: Home Trust Preferred Card
Best For Low-Interest: RBC Visa Classic Low Rate Option
Best For Rewards on Foreign Purchases: Meridian Visa Infinite Travel Reward Card

Best Overall Visa Credit Card In Canada

TD Cash Back Visa Infinite Card

TD Cash Back Visa Infinite

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on TD Bank’s website

Welcome Offer: 10% Cash Back on all purchases for the first 3 months up to a total spend of $2,000 + First year fee waived.

Earn Rate: 3% cash back on eligible grocery, gas, drugstores and recurring bills. 1% back for every $1 spent on all other purchases.

Annual Fee: $120

Min. Income Required: Personal $60,000 or Household $100,000

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The TD Cash Back Visa Infinite Credit Card makes the top of our list for several reasons, the biggest of which is convenience. This card successfully meets the demands of the large portion of Canadian consumers who just want a means to bring back a nice chunk of what they spend on everyday purchases back into their wallet. Cashback, as a reward, can be significant is if you have a family with multiple mouths to feed at home, and TD honors this need just right.

You can earn a whopping 10% cash back on all purchases for the first 3 months for a total of $2000. Once the promotional period is over, you will still earn an attractive 3% cash back on eligible Grocery and gas purchases, and on recurring bills like Netflix and Amazon prime. You will also earn 1% cashback on all other purchases made with your TD Cashback Visa Infinite credit card. While the annual fee on this card is $120, it’s waived for your first year.

Your points never expire as long as you keep your account in good standing. You can redeem your accumulated cashback dollars whenever you want as long as you request for a minimum of $25.

It comes with a couple of the most important Insurance coverage just to like the travel medical insurance, delayed and lost baggage insurance, auto rental collision/loss damage insurance. You will also receive a free deluxe TD Auto Club membership and a minimum of 10% discount when renting a vehicle with AVIS rent a car or Budget Rent A Car. And, you will have access to their emergency travel assistance services in case you need help while on the road.

Click here for more details about the TD Cash Back Visa Infinite Credit Card.

Best Visa Credit Card for Travel

TD First Class Travel Visa Infinite

TD First Class Travel Visa Infinite

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on TD’s website

Welcome Offer: 90,000 TD Points + First year fee waived + 2x TD Points on all purchases in the first 3 months up to a total of 60,000 points.

Earn Rate: 9x points when you book travel online through Expedia For TD. 3x points on everything else.

Annual Fee: $120

Min. Income Required: Personal $60,000 or Household $100,000

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When it comes to travel Visa credit cards, there aren’t many on the same caliber as TD First Class Travel Visa Infinite. This card provides a competitive rewards and points program, along with a comprehensive insurance benefits package to hedge travellers against common risks while on the road.

If you apply by September 3, 2019, as a welcome bonus, you will earn up to 80,000 TD Points (travel value of $400). But the rewards don’t end there– earn 3 TD Points for every $1 you spend on everyday purchases made through your card; earn 9 TD points per $1 when booking travel online through Expedia for TD, or 6 TD per $1 when booking through phone.

Points can be redeemed for travel and travel-related purchases. There are no travel blackouts and no seat restrictions for your TD points. Your points will never expire as long as your account is kept open and in good standing.

The collected points can be redeemed on giftcards or other travel related purchases like car rentals, vacation packages. Or opt to redeem it as a cash credit to your account.

TD First Class Travel Visa Infinite comes with a remarkable suite of travel insurances that includes travel medical, trip cancellation/interruption insurance, common carrier travel accident insurance, delayed and lost baggage insurance, along with rental car benefits.

Click here for more details about the TD First Class Travel Visa Infinite Card

Best Visa Credit Card for Cash Back

Scotia Momentum Visa Infinite

Scotia Momentum Visa Infinite

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on Scotia Bank’s website

Welcome Offer: First year fee waived.

Earn Rate: 4% cash back on grocery, recurring bills, and subscription purchases. 2% back on gas and daily transit, and 1% back on everything else.

Annual Fee: $99

Min. Income Required: Personal $60,000 or Household $100,000.

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Reward points are nice, but cash-back is the ultimate incentive a Canadian consumer can get, because it adds an element of savings to shopping which is otherwise a largely expensive activity. And, it gives you the freedom to use the amount you’ve been reimbursed however you want.

Scotia Momentum Visa infinite is the best option for those whose primary household expenses revolve around groceries, recurring payments including subscription purchases, like insurance premiums, utilities, gym memberships, meal kit delivery, popular video or music streaming services. You can earn 4% cashback on every dollar spent on these two categories. Along with that, you will also earn 2% cashback on gas and daily transit such as buses, taxis, trains, rideshare. All the other purchases will yield you 1% cashback with no limit.

Do note that, you will have access to your rewards only once a year, which can be a good thing since it encourages saving instead of instantly exhausting the rewards. This card comes packed with a suite of all the important insurance policies such as the travel emergency medical insurance, flight delayed insurance, delayed and lost baggage insurance, trip cancellation and interruption insurance, new mobile device insurance, travel accident insurance, rental car collision loss/damage insurance, and purchase security and extended warranty protection.

Click here for more details about the Scotia Momentum Visa Infinite card

Best Visa Credit Card with No Annual Fee

Scotia Momentum No-Fee Visa

Scotia Momentum No-Fee Visa Card

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on Scotia Bank’s website

Welcome Offer: 7.99% introductory interest rate on everyday purchases for the first 6 months.

Earn Rate: 1% cash back on all eligible gas station, grocery, drug store purchases and recurring payments. 0.5% cash back on all other purchases.

Annual Fee: $0

Min. Income Required: $0

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Annual fee can be worth the price if the credit card offers significant rewards. But, if it doesn’t, or if you’re someone who doesn’t plan to frequently use your Visa card to cover expenses, then a no-annual fee card may be more suited for you. A nice side effect of a free credit card is that you will be able to hold onto your credit card for years to come without paying any fee, which is important since loyalty to a credit card can give your credit score a healthy boost.

The Scotiabank Momentum No-Fee Visa is a great option for those looking for a no-fee credit card that offers cashback on everyday purchases. Gas, groceries, drugstore purchases and recurring payments will bring you a 1% cash back; earn 0.5% cash back on all other purchases. As added perks, this card gives users the ability to save 20% on AVIS car rentals, and get supplementary cards for free.

Here’s something cool for new cardholders- you can take advantage of 7.99% introductory interest rate on everyday purchases for the first 6 months, after which it will jump up to 19.99%. If you are planning to make a huge purchase that you can’t afford to pay in full, its better to do it during the first 6 months when the interest-rate is low.

Click here for more details about the Scotiabank Momentum No-Fee Visa

Best For No Foreign Transaction Fee

Scotiabank Passport Visa Infinite

scotiabank passport visa infinite

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on Scotia Bank’s website

Welcome Offer: 35,000 Scotia Rewards points + Complimentary Priority Pass membership, plus 6 free visits per year.

Earn Rate: 2 Scotia Rewards points for $1 spent on eligible grocery, dining, entertainment, and daily transit. 1 point for all other purchases. No FX Fees.

Annual Fee: $139

Min. Income Required: Personal $60,000 or Household $100,000.

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Majority of credit cards charge you an extra fee on all purchases made outside Canada. In numbers we are looking at an extra 2% to 3% per purchase, which definitely adds up if it’s being added onto each and every purchase made. A foreign transaction fee can be a significant hassle especially if you frequently travel abroad, or shop online through foreign vendors often.

If you want a card that doesn’t eat up your rewards when you shop or travel internationally, then look into the Scotiabank Passport Visa Infinite, which was created for people who travel abroad.

Along with no FX fees, you get a welcome bonus of 35,000 points, plus a complimentary Priority Pass membership, 6 free visits per year included.

Click here to learn more about the Scotiabank Passport Visa Infinite.

Best Low-Interest Visa Credit Card

RBC Visa Classic Low Rate Card

rbc visa classic low rate

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on RBC’s website

Annual Fee: $20

Interest Rate: 11.99%

Min. Income Required: $0

When it comes to credit cards, every borrower is different. If you are someone who has a habit of carrying a balance month-to-month, you definitely don’t want to add on to your credit card debt with a high interest fee.

RBC Visa Classic Low Rate Option is perfect for users who don’t want to pay the usual 19.99% interest rate for failure to pay their balance in full. This card currently has a low-interest rate of 11.99% on purchases and cash advances, which will be increasing to 12.99% starting November 1, 2019 – an amount that is still significantly lower than its competitors.

This card has a low annual fee of only $20, and gives cardowners Purchase Security and Extended Warranty insurance that protects the items you recently bought using your card against loss, theft and damage. And, if you pump gas at Petro-Canada, you can save 3 cents/Litre on fuel just by linking your card.

To make your RBC Credit card more thorough, add balance protector insurance, identity protection, RBC Road Assist, and Optional Travel Insurance.

Click here for more details about the RBC Visa Classic Low Rate Card

Best Visa Credit Card with Rewards on Foreign Purchases

Meridian Visa Infinite Travel Rewards Card

meridian infinite travel rewards visa

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on Meridian’s website

Welcome Offer: First year fee waived.

Earn Rate: Earn 1.5 points for every $1 of net purchases. Earn 3 points for every $1 of net purchases in foreign currencies.

Annual Fee:$99

Min. Income Required:Personal $60,000 or Household $100,000

The Meridian Visa Infinite Travel Credit Card rewards globetrotters with more than just flight tickets or access to private airport lounges. Sure, privileges are relative, but there are a few things all travellers love to have (insurance), and hate to have to do (pay foreign transaction fee). This card provides comprehensive insurance package to the cardholders while rewarding foreign and domestic purchases with points that can be later redeemed for travel purchases, merchandise, event tickets and gift cards.

Specifically, the Meridian Visa Infinite Travel Credit Cards lets you earn 1.5 points for every $1 of net purchases; on purchases made using foreign currencies, you will earn 3 points for every $1 spent. This high point reward on foreign purchases ensures to offset the amount you pay for foreign transaction fee. While the annual fee is $99 for this card, you can use it for free for your first year.

A compelling selling feature of this card is its insurance coverage for travellers, like Emergency Health Care Coverage, Trip Cancellation & Interruption Insurance, Baggage Insurance, Common Carrier Accident Protection, Auto Rental Collision/Loss Insurance Price Protection Service, Extended Warranty and Purchase Protection, and Mobile Device Insurance. It also comes with Intergenerational Insurance Coverage which is quite a rare find in credit cards in general. This policy extends the insurances to grandchildren when travelling with grandparents.

Methodology: How We Choose The Cards In This List

The credit cards in this list were evaluated based on features such as interest rates, annual fee, eligibility requirements, rewards structure and other factors that are imperative to an outstanding Canadian Visa Card.

Click here for more details about the Meridian Visa Infinite Travel Rewards Card


Click here to view the complete list of the best cards in Canada.