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The best Mastercard credit cards in Canada for 2025
If you’re looking for near-universal acceptance, look no further than a Mastercard. We’ve rounded up its best credit cards with the best perks. The post The best Mastercard credit cards in Canada for 2025 appeared first on MoneySense.
Regardless if you want travel points, cash back, low interest or perks, you can easily find a Mastercard that caters to your needs. Let’s look at the best credit cards Mastercard has to offer.
Best Mastercard credit cards in Canada
Rogers Red World Elite Mastercard
MBNA Rewards World Elite Mastercard
MBNA True Line Mastercard credit card
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Compare popular Mastercards
Compare Mastercard credit cards available in Canada using our interactive tool below. You can filter cards based on rewards value, annual fees, income requirements and more. Use the tool below to compare credit card options, or keep scrolling for our editors’ top picks.
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Check out the pros and cons of our top Mastercard picks across the cash back, travel, balance transfer and other categories.
MoneySense editors compare the credit cards available in Canada to rank the best overall credit cards in Canada. If the top card in Canada for a given category is a Mastercard, it may be included it on this page, depending on its features and how it ranks against other cards currently available in Canada. And if our top pick is a Visa or American Express card, then the editorial team looks to the next-best card, and so on, until we find the best Mastercard credit card for each category on this list. Since each category is unique, we use different selection criteria that is applicable to the credit card holder. The affiliate partner links have no bearing on the best rankings results; those are added after the rankings are complete. Read more about our selection process and about how MoneySense makes money.
Best cash back Mastercard
At a glance: The Rogers Red World Elite Mastercard is our pick for the best cash back card in Canada. It offers a high 1.5% cash back on all purchases, with a standout 3% cash back on U.S. dollar purchases. The card has no annual fee, yet it still packs impressive perks, like comprehensive insurance and access to concierge services.
Rogers Red World Elite Mastercard
Annual fee: $0
- 3% cash back on all U.S. dollar purchases
- 1.5% on all other purchases (2% for Rogers, Fido and Shaw customers)
Welcome offer: None at this time.
Card details
Interest rates 25.99% on purchases, 27.99% on cash advances, 27.99% on balance transfers Income required $80,000 per year Credit score 725 or higher
Pros
- Simple rewards structure: With the minimum of 1.5% cash back on all your purchases, you don’t have to think about maximizing bonus categories or rewards tiers. The base earn rate is higher than any other no-fee card in Canada.
- No forex fees on U.S. purchases: Earn 3% cash back on all U.S. currency purchases, both in-person and online, which is enough to offset the 2.5% foreign transaction fee (this is standard for most credit cards in Canada).
- No earnings cap: There are no category spending thresholds at which point you’ll start earning less cash back on your purchases. That’s a standout feature compared to most cards in this category.
- Flexible redemptions: Cash out your cash rewards as soon as you have $10 earned. Many cards issue cash back through statement credits once per year.
Cons
- High income requirements: You’ll need a personal income of at least $80,000 or household income of at least $150,000 to qualify.
- Flat earn rate: Other cards offer higher earn rates on select categories, which could help you reap more rewards, depending on your spending habits.
Best travel rewards Mastercard
At a glance: You’re sure to rack up points quickly with the MBNA Rewards World Elite Mastercard. In addition to earning 5 MBNA Rewards points per $1 spent across five categories—restaurant, grocery, digital media, membership and household utility purchases on the card—cardholders get an annual birthday bonus of 10% of the points earned in the last 12 months. How fun is that?!
MBNA Rewards World Elite Mastercard
Annual fee: $120
- 5 points per $1 on eligible restaurant, grocery, digital media, membership and household utility purchases until $50,000 is spent annually in the applicable category
- 1 point for every $1 on all other eligible purchases
Welcome offer: earn 20,000 bonus points (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days. (Not available for residents of Quebec.)
Card details
Interest rates 19.99% on purchases, cash advances 24.99% on cash advances, 22.99% on balance transfers Income required $80,000 per year Credit score 660 or higher Point value 1 MBNA Rewards point = $0.01 when redeemed for travel
Pros
- Easy redemptions: You don’t have to worry about complex rewards charts. It’s simple to understand and use.
- High earn rates: One the highest rates of return in Canada, this Mastercard earns a whopping 5 points per $1 spent across five spending categories.
- Annual birthday bonus: Every year, you get a bonus equal to 10% of the points earned within the last 12 months (up to a maximum of 15,000 points).
Cons
- Travel redemption option: Points can only be redeemed for travel through the MBNA Rewards platform.
- High income requirement: As with other World Elite Mastercards, the minimum annual income needed to qualify is quite high at $80,000 a year.
Best low-interest Mastercard
At a glance: If you need to pay down debt, the MBNA True Line Gold Mastercard has a lot to offer, like a modest $39 annual fee and one of the lowest interest rates on the market. So more of your money goes toward paying off your balance, and not feels. Plus, there is no annual income requirement, making this extremely accessible for many Canadians.
MBNA True Line Gold Mastercard
Annual fee: $39
Low interest rate: 10.99%
Welcome offer: This card does not have a welcome offer at this time.
Card details
Interest rates 24.99% on cash advances, 13.99% on balance transfers Income required None specified Credit score 660 or higher
Pros
- Low interest rate: If you regularly carry a balance on your card, the 10.99% interest rate may help you save on interest costs and pay off your outstanding balance faster than a card with a 19%-plus rate.
- Trip assistance and legal assistance: Features include support for lost luggage or documents, ticket replacement and legal assistance.
Cons
- No balance transfer offer: Unlike many low-interest cards in Canada, this one doesn’t have a promotional offer. If you need to move your debt to a low-interest card, you could consider the MBNA True Line Mastercard instead.
Best balance transfer Mastercard
At a glance: Feast your eyes on the best balance transfer card in Canada. If you’re looking for a way to reduce the interest on existing debt, the MBNA True Line Mastercard offers a 0% balance transfer rate for a full year. Even at the regular balance transfer interest rate of 17.99%, this card saves you on interest charges. There’s no annual fee for you and up to nine additional users.
MBNA True Line Mastercard
Annual fee: $0
Balance transfer offer: Receive a 0% interest rate for 12 months on balance transfers completed within 90 days. (Offer not available for residents of Quebec.)
Card details
Interest rates 12.99% on purchases, 24.99% on cash advances, 17.99% on balance transfers Income required None specified Credit score 660 or higher
Pros
- Year-long balance transfer offer: The promotional offer lasts longer than with any other balance transfer card in Canada.
- Balance transfer flexibility: You have up to 90 days to transfer your balance after opening the account, whereas most comparable cards make you transfer it right away.
- Pay in installments: With the MBNA monthly payment plan, split the bill on spends over $100 into installments.
Cons
- Balance transfer fee: Even though the balance transfer interest rate is 0% for 12 months, there is a transfer fee of 3% ($30 for every $1,000 transferred).
Best secured Mastercard
At a glance: The Secured Neo Mastercard is the best secured credit card in Canada. With a low annual fee and the option to start with a deposit as low as $50, this secured credit card works as an affordable way to establish or rebuild credit. Plus, the Neo account dashboard is easy to use to manage your account and to redeem rewards on eligible purchases, making it a smart choice for everyday spending.
Secured Neo Mastercard
Annual fee: $60
Rewards: A minimum of 0.5% cash back and an average of 5% cash back on purchases at partners
Welcome offer: Get $25 when you sign up.
Card details
Interest rates 19.99% to 29.99% on purchases (19.99% to 24.99% for Quebec residents) and 22.99% to 31.99% on cash advances (22.99% to 25.99% for Quebec residents) Income required None Credit score 690 or higher
Pros
- Cash back rewards: Earn cash back on gas and groceries purchases with Neo retail partners. Most secured cards don’t come with such rewards.
Low minimum deposit: With a minimum deposit of just $50, this card is accessible to more Canadians, while many other secured cards require deposits of $500 or higher.
Cons
- High interest rates: Depending on your credit history profile, the purchase interest rate can be as high as 29.99% (or 24.99%, if you live in Quebec).
- Annual fee: Unlike some secured cards that offer no annual fee, this card charges for one.
What types of credit cards does Mastercard have?
Mastercard is a credit card company that partners with different financial institutions and companies to offer Mastercard cards. There are three tiers of Mastercard credit cards available in Canada: including its standard credit cards, World and World Elite cards. The World comes with more perks than the standard card and World Elite comes with premium benefits, like better rewards and insurance coverage. But here are the Mastercard cards available in Canada. Tap each category to see the list of Mastercard credit cards available for Canadians.
- BMO Air Miles Mastercard
- BMO Air Miles Student Mastercard
- BMO CashBack Mastercard
- BMO CashBack Student Mastercard
- BMO Preferred Rate Mastercard
- BMO U.S. Dollar Mastercard
- BMO VIPorter Mastercard
- Capital One Aspire Travel Platinum Mastercard
- Capital One Aspire Cash Platinum Mastercard
- Capital One Guaranteed Mastercard
- Capital One Guaranteed Secured Mastercard
- Desjardins Cash Back Mastercard
- MBNA Rewards Platinum Plus® Mastercard
- MBNA Smart Cash Platinum Plus Mastercard
- MBNA True Line Mastercard
- MBNA True Line Gold Mastercard
- National Bank Allure Mastercard
- National Bank ECHO Cashback Mastercard
- National Bank MC1 Mastercard
- National Bank mycredit Mastercard
- National Bank Platinum Mastercard
- Neo Mastercard
- PC Mastercard
- RBC Cash Back Mastercard
- Rogers Red Mastercard
- Triangle Mastercard
- WestJet RBC Mastercard
- MBNA Smart Cash World Mastercard
- National Bank World Mastercard
- Neo World Mastercard
- PC World Mastercard
- Desjardins Odyssey World Elite Mastercard
- Desjardins Cash Back World Elite Mastercard
- BMO Air Miles World Elite Mastercard
- BMO Ascend World Elite Mastercard
- BMO CashBack World Elite Mastercard
- BMO VIPorter World Elite Mastercard
- MBNA Rewards World Elite Mastercard
- National Bank World Elite Mastercard
- RBC Cash Back Preferred World Elite Mastercard
- Rogers Red World Elite Mastercard
- PC Insiders World Elite Mastercard
- PC World Elite Mastercard
- Triangle World Elite Mastercard
- WestJet RBC World Elite Mastercard
How do I activate my Mastercard?
You don’t activate your Mastercard credit card through Mastercard itself. You have to do that with the credit card issuer, whether it’s BMO, PC Financial or Westjet. But the good thing is that most providers allow you to do it the same way: contacting the issuer by telephone or online/app. Never respond to a text message or email prompting you to activate your credit card, as that might be a phishing scam. Always go to the issuer directly.
You’ll be asked for the credit card number, expiration date and pin. You should be able to create a pin, too. Put the pin number in a safe place and never use anything obvious, like your birthday or a common sequence of numbers (like 1-2-3-4). And if you can make the pin long (say more than four characters), go for it. And make sure the pin is different from what you use for other cards.
Once your card is activated, you can use it right away. If you have any issues, call the issuer.
Where can I get a Mastercard?
You have options in Canada on where to apply for a Mastercard credit card. The obvious choice is a bank or credit union, such as BMO, National Bank, RBC, Capital one or Desjardins. But you have other options. There are retail cards available through companies like President’s Choice (Loblaws and Shoppers), Canadian Tire and Rogers. Even WestJet offers Mastercard credit cards through a partnership with RBC.
But that’s not to say you have to apply directly through the bank, especially if you are shopping around. You can also apply through articles like this one on MoneySense. While we compare and rank credit cards and other financial products, it’s one of the ways we can earn money. However, unlike some other sites, we also consider credit cards that we don’t have a partnership with, so you may see some cards without a link to apply (no affiliate link available). But we do our due diligence as personal finance journalists to get you the best information possible.
More of Canada’s best credit cards:
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