Rankings
Are Premium Credit Cards Worth It in Canada?
Canada’s $299–$599 premium cards compared on rewards, so you can see what the perks have to make up. Highest first-year value: Scotiabank Platinum American Express.
Which premium credit card is best in Canada?
On first-year value: Scotiabank Platinum American Express ($881), TD Aeroplan Visa Infinite Privilege ($732), CIBC Aeroplan Visa Infinite Privilege ($730).
| Card | Annual fee | First-year value | Net annual rewards |
|---|---|---|---|
| TopScotiabank Platinum American Express | $399 | $881 | $81 |
| TD Aeroplan Visa Infinite Privilege | $599 | $732 | −$268 |
| CIBC Aeroplan Visa Infinite Privilege | $599 | $730 | −$270 |
| CIBC Aventura Visa Infinite Privilege | $499 | $647 | −$153 |
| RBC Avion Visa Infinite Privilege | $399 | $451 | −$99 |
| BMO eclipse Visa Infinite Privilege | $599 | $411 | −$122 |
| American Express Aeroplan Reserve Card | $599 | $319 | −$281 |
| Desjardins Odyssey Visa Infinite Privilege | $395 | $187 | $187 |
| Scotiabank Passport Visa Infinite Privilege | $599 | $1 | −$299 |
| Rogers Red World Legend Mastercard | $495 | −$15 | −$15 |
Values use WalletReturn’s standard $2,000 a month of typical Canadian spending. First-year value = welcome bonus + a year of rewards − the annual fee; net annual rewards = a normal year of rewards − the fee.
Put it into practiceBest travel cardsWhen is a premium card worth the fee?
When you’d otherwise pay for what it includes: airport lounge visits ($40–$60 each), comprehensive travel insurance ($300+ a year for a family), free checked bags and annual travel credits. If you fly a few times a year or less, a $120–$150 card usually comes out ahead.
Which Canadian cards include airport lounge access?
Aeroplan Visa Infinite Privilege cards include Air Canada Maple Leaf Lounges; Amex Platinum includes Centurion and Priority Pass; several World Elite and Visa Infinite cards include 4–6 Mastercard Travel Pass or Visa Airport Companion visits a year.
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