Rankings
Best Credit Cards for Families in Canada
The MBNA Rewards World Elite Mastercard and the National Bank World Elite Mastercard pay 5% on groceries — the highest grocery rate we track — and the Scotia Momentum Visa pays 2% at pharmacies for $49 a year.
Which credit card is best for a family in Canada?
The MBNA Rewards World Elite Mastercard and the National Bank World Elite Mastercard pay 5% on groceries, the highest grocery rate we track, and the Scotia Momentum Visa pays 2% at pharmacies.
| Card | Grocery rate | Annual fee | Net annual rewards |
|---|---|---|---|
| TopMBNA Rewards World Elite Mastercard | 5% | $120 | $496 |
| National Bank World Elite Mastercard | 5% | $150 | $468 |
| BMO CashBack World Elite Mastercard | 5% | $139 | $430 |
| Scotiabank Gold American Express | 5% | $120 | $361 |
| American Express Cobalt | 5% | $192 | $236 |
WalletReturn example spending of $2,000/month: groceries $500, dining $200, gas $150, transit $80, travel $100, recurring bills $200, entertainment $100, drugstore $40, online $300, other $330.
A family budget is not one category: groceries, pharmacies, recurring bills and the fuel or transit that gets everyone to work and school all sit in different bonus categories, and the cards that lead them are different cards.
Put it into practiceFind My CardIs the top grocery rate capped?
Yes on the MBNA Rewards World Elite Mastercard: 5% on groceries up to $50,000 of category spending a year, then 1% after that.
| Monthly groceries | Rewards in a year |
|---|---|
| Top$300 | $180 |
| $500 | $300 |
| $800 | $480 |
| $1,200 | $720 |
$50,000 a year works out to $4,167 a month. Below that the bonus rate applies to the whole shop; above it only the base rate does.
The extra over a 1% no-fee card covers this card’s $120 annual fee at about $250 of monthly groceries.
Where a cap is shared with other bonus categories, spending in those categories draws down the same limit, so the grocery benefit can end before the grocery bill does.
Which card pays the most at the pharmacy?
The Scotia Momentum Visa and the Meridian Visa Infinite Cash Back pay 2% at drugstores, and the Tangerine Money-Back Mastercard pays the same with no annual fee.
| Card | Pharmacy rate | Annual fee | Net annual rewards |
|---|---|---|---|
| TopScotia Momentum Visa | 2% | $49 | $307 |
| Meridian Visa Infinite Cash Back | 2% | $99 | $272 |
| Tangerine Money-Back Mastercard | 2% | $0 | $246 |
| Tangerine Money-Back World Mastercard | 2% | $0 | $246 |
Pharmacies sell more than prescriptions. Purchases that record as groceries, cosmetics or general merchandise usually do not earn the drugstore rate, and prescriptions reimbursed by an insurer are still spending on your card.
A drugstore rate rarely justifies a fee on its own: our example profile spends $40 a month at pharmacies.
Which card should pay the bills and streaming subscriptions?
The MBNA Rewards World Elite Mastercard pays 5% on recurring bills and the Scotia Momentum Visa Infinite + pays 4%.
| Card | Recurring-bill rate | Annual fee | Net annual rewards |
|---|---|---|---|
| TopMBNA Rewards World Elite Mastercard | 5% | $120 | $496 |
| Scotia Momentum Visa Infinite + | 4% | $120 | $400 |
| Scotiabank Gold American Express | 3% | $120 | $361 |
| TD Cash Back Visa Infinite | 3% | $139 | $324 |
Streaming, phone, internet and other subscriptions usually record as recurring bills where the card has that category. Insurance premiums are often excluded from bonus categories or recorded separately, so check the card’s eligible list before routing them there.
A subscription charged to the card earns the rate every month without you doing anything, which makes this the one bonus category that runs itself.
Which cards pay the most after the first-year bonus?
The SimplyCash Preferred Card from American Express records $516 in net annual rewards on our example profile and the Neo World Elite Mastercard – Gas & Grocery records $439.
| Card | Annual fee | First-year value | Net annual rewards |
|---|---|---|---|
| TopSimplyCash Preferred Card from American Express | $120 | $663 | $516 |
| Neo World Elite Mastercard – Gas & Grocery | $149 | $439 | $439 |
| BMO CashBack World Elite Mastercard | $139 | $1,049 | $430 |
| Scotia Momentum Visa Infinite + | $120 | $676 | $400 |
A welcome bonus lifts the first year only, so the net annual rewards column is the one that describes year two and every year after it.
The trade-off is visible in the table: the leaders here charge a fee, and a no-fee category card can beat them on the spending it covers.
How do I check these numbers against my family’s spending?
Enter your own monthly amounts in Find My Card: the ranking, the caps and the yearly totals are recalculated from your numbers rather than our example profile.
WalletReturn example spending of $2,000/month: groceries $500, dining $200, gas $150, transit $80, travel $100, recurring bills $200, entertainment $100, drugstore $40, online $300, other $330.
Every card uses the same earn rules, cap records and supported welcome offers. Affiliate relationships never move a card up a ranking or change an estimate.
Keep reading
RankingsBest Credit Cards for Groceries in CanadaThe Canadian credit cards that pay the most at grocery stores, with the real return per dollar: MBNA Rewards World Elite Mastercard, National Bank World Elite Mastercard, BMO CashBack World Elite Mastercard all earn 5%.
RankingsBest Credit Cards for Online Shopping in CanadaOnline shopping is the largest discretionary line in our example profile at $300 a month. The CIBC Costco Mastercard and the Tangerine Money-Back World Mastercard both pay 2.00% back — the highest online rate we track — and neither charges an annual fee.
RankingsBest Credit Cards for Recurring Bills and Streaming in CanadaThe MBNA Rewards World Elite Mastercard pays 5.00% on recurring bills — the highest recurring rate we track — and the Scotia Momentum Visa Infinite + follows at 4.00%. Both charge $120 a year.
RankingsBest Credit Cards for Wedding Expenses in CanadaThe BMO CashBack World Elite Mastercard records $1,049 of first-year value on our example profile, and the Capital One Quicksilver World Elite Mastercard records $792. A wedding is a one-time spend, so an offer’s minimum spend matters more here than an ongoing rate.
Official sources and further reading
Terms vary by product. Confirm the provider’s current terms before acting. This guide does not predict approval, realized value or credit-score changes. How WalletReturn calculates value