Canadian Credit Card Finder

Best Mastercard Credit Cards in Canada (2026)

Mastercard is the network to carry if you shop at Costco, and it is the network behind many store and loyalty cards in Canada, including the PC Financial, Canadian Tire Triangle, Walmart and CIBC Costco cards. The picks below are every Mastercard on this site, sorted into categories and ranked by a simple, stated rule, so you can see the strongest current option for how you spend. Open a review before you apply: the review covers earn rates, caps and insurance in detail.

By Card details as of How we review cards

Top Mastercard picks at a glance

47 Mastercard cards from 13 issuers are reviewed on this site. Here is the top card in each category; the sections below show the runners-up.

Category Card Annual fee Welcome offer
No annual fee Amazon.ca Rewards Mastercard $0 Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants for the first 6 months, on your first $3,000 in eligible purchases.
Cash back BMO CashBack World Elite Mastercard $139 Get up to $650 in value
Travel and points BMO VIPorter World Elite Mastercard $199 Get up to $2,400 in value, including 70,000 VIPorter points, a round-trip companion pass, the annual fee waived in the first year, and more
Premium BMO Ascend World Elite Mastercard $150 Up to 115,000 BMO Rewards points / up to $1,900 in value
Low interest National Bank Syncro Mastercard $35 None listed
Students Student BMO CashBack Mastercard $0 Get 5% cash back in your first 3 months!
U.S. dollar BMO U.S. Dollar Mastercard $49 USD None listed

Best no annual fee Mastercard cards

Mastercard cards that list a $0 annual fee, so anything they earn is yours to keep.

Ranked by: First-year value: the welcome offer the issuer advertises, minus the annual fee.

  1. #1 Amazon.ca Rewards Mastercard MBNA
    Annual fee
    $0
    Welcome offer value
    Up to $150
    First-year value after fee
    $150

    Offer: Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants for the first 6 months, on your first $3,000 in eligible purchases.

    Read the Amazon.ca Rewards Mastercard review →
  2. #2 MBNA Smart Cash Platinum Plus Mastercard MBNA
    Annual fee
    $0
    Welcome offer value
    Up to $150
    First-year value after fee
    $150

    Key features: 2% cash back on gas and groceries on up to $500 in combined gas and grocery purchases each month, then 0.5%; 0.5% on all other eligible purchases.

    Offer: Earn 5% cash back on gas and groceries for the first 6 months, on up to $500 in combined gas and grocery purchases each month.

    Read the MBNA Smart Cash Platinum Plus Mastercard review →
  3. #3 BMO Blue Rewards Mastercard BMO
    Annual fee
    $0
    Welcome offer value
    Up to $133
    First-year value after fee
    $133

    Offer: 20,000 Bonus Points plus a 0.99% introductory interest rate on balance transfers for 9 months (2% transfer fee)

    Read the BMO Blue Rewards Mastercard review →

Best cash back Mastercard cards

Mastercard cards that pay rewards as cash back or statement credits.

Ranked by: First-year value: the welcome offer the issuer advertises, minus the annual fee.

  1. #1 BMO CashBack World Elite Mastercard BMO
    Annual fee
    $139
    Welcome offer value
    Up to $650
    First-year value after fee
    $511

    Key features: 5% on groceries (first $500 per statement period, then 1%) 4% on transit 3% on gas 2% on recurring bills Plus, get 1% cash back on all other purchases.

    Offer: Get up to $650 in value

    Read the BMO CashBack World Elite Mastercard review →
  2. #2 RBC Cash Back Preferred World Elite Mastercard RBC
    Annual fee
    $120
    Welcome offer value
    Up to $300
    First-year value after fee
    $180

    Key features: Earn 3% cash back on groceries, dining, food delivery, gas, EV charging, rideshare, transit, streaming and digital gaming; 1% cash back on all other purchases.

    Offer: Get 15% extra cash back on your first $2,000 in spend for 3 months. Apply by February 2, 2027.

    Read the RBC Cash Back Preferred World Elite Mastercard review →
  3. #3 MBNA Smart Cash Platinum Plus Mastercard MBNA
    Annual fee
    $0
    Welcome offer value
    Up to $150
    First-year value after fee
    $150

    Key features: 2% cash back on gas and groceries on up to $500 in combined gas and grocery purchases each month, then 0.5%; 0.5% on all other eligible purchases.

    Offer: Earn 5% cash back on gas and groceries for the first 6 months, on up to $500 in combined gas and grocery purchases each month.

    Read the MBNA Smart Cash Platinum Plus Mastercard review →

Best travel and points Mastercard cards

Mastercard cards that earn airline, hotel or flexible points.

Ranked by: First-year value: the welcome offer the issuer advertises, minus the annual fee.

  1. #1 BMO VIPorter World Elite Mastercard BMO
    Annual fee
    $199
    Welcome offer value
    Up to $2,400
    First-year value after fee
    $2,201

    Offer: Get up to $2,400 in value, including 70,000 VIPorter points, a round-trip companion pass, the annual fee waived in the first year, and more

    Read the BMO VIPorter World Elite Mastercard review →
  2. #2 BMO Ascend World Elite Mastercard BMO
    Annual fee
    $150
    Welcome offer value
    Up to $1,900
    First-year value after fee
    $1,750

    Key features: 5x the points For every $1 spent on eligible travel purchases.

    Offer: Up to 115,000 BMO Rewards points / up to $1,900 in value

    Read the BMO Ascend World Elite Mastercard review →
  3. #3 BMO Blue Rewards World Elite Mastercard BMO
    Annual fee
    $150
    Welcome offer value
    Up to $1,600
    First-year value after fee
    $1,450

    Offer: Up to $1,600 value incl. up to 100,000 Blue Points + FY fee rebate

    Read the BMO Blue Rewards World Elite Mastercard review →

Best premium Mastercard cards

Mastercard cards with an annual fee of $120 or more, where the perks and insurance have to earn the fee back.

Ranked by: First-year value: the welcome offer the issuer advertises, minus the annual fee.

  1. #1 BMO VIPorter World Elite Mastercard BMO
    Annual fee
    $199
    Welcome offer value
    Up to $2,400
    First-year value after fee
    $2,201

    Offer: Get up to $2,400 in value, including 70,000 VIPorter points, a round-trip companion pass, the annual fee waived in the first year, and more

    Read the BMO VIPorter World Elite Mastercard review →
  2. #2 BMO Ascend World Elite Mastercard BMO
    Annual fee
    $150
    Welcome offer value
    Up to $1,900
    First-year value after fee
    $1,750

    Key features: 5x the points For every $1 spent on eligible travel purchases.

    Offer: Up to 115,000 BMO Rewards points / up to $1,900 in value

    Read the BMO Ascend World Elite Mastercard review →
  3. #3 BMO Blue Rewards World Elite Mastercard BMO
    Annual fee
    $150
    Welcome offer value
    Up to $1,600
    First-year value after fee
    $1,450

    Offer: Up to $1,600 value incl. up to 100,000 Blue Points + FY fee rebate

    Read the BMO Blue Rewards World Elite Mastercard review →

Best low interest Mastercard cards

Mastercard cards built around a lower purchase rate, for anyone who sometimes carries a balance.

Ranked by: Lowest listed purchase interest rate, then lowest annual fee.

  1. #1 National Bank Syncro Mastercard National Bank
    Annual fee
    $35
    Purchase rate
    8.90%
    First-year value after fee
    —

    Key features: Low variable interest rate (prime + 4% on purchases, currently 8.90%); no rewards program.

    Read the National Bank Syncro Mastercard review →
  2. #2 MBNA True Line Gold Mastercard MBNA
    Annual fee
    $39
    Purchase rate
    10.99%
    First-year value after fee
    —

    Key features: MBNA’s lowest purchase interest rate card (10.99%).

    Read the MBNA True Line Gold Mastercard review →
  3. #3 MBNA True Line Mastercard MBNA
    Annual fee
    $0
    Purchase rate
    12.99%
    First-year value after fee
    —

    Key features: Low purchase rate 12.99%; balance transfer focused; no rewards.

    Offer: 0% promotional AIR for 12 months on balance transfers completed within 90 days of account opening (conditions apply; may vary by province).

    Read the MBNA True Line Mastercard review →

Best student Mastercard cards

Student versions of Mastercard cards.

Ranked by: First-year value: the welcome offer the issuer advertises, minus the annual fee.

  1. #1 Student BMO CashBack Mastercard BMO
    Annual fee
    $0
    Welcome offer value
    No dollar value listed
    First-year value after fee
    —

    Key features: 3% cash back on groceries, 1% cash back on recurring payments, 0.5% cash back on every day essentials.

    Offer: Get 5% cash back in your first 3 months!

    Read the Student BMO CashBack Mastercard review →

U.S. dollar Mastercard cards

Mastercard cards billed in U.S. dollars, for people who spend or earn in USD.

Ranked by: Lowest annual fee.

  1. #1 BMO U.S. Dollar Mastercard BMO
    Annual fee
    $49 USD
    Welcome offer value
    No dollar value listed
    First-year value after fee
    —
    Read the BMO U.S. Dollar Mastercard review →

How these picks are ranked

Within each category, cards are ranked by first-year value: the welcome offer value the issuer advertises, minus the regular annual fee. Low interest cards are ranked by the lowest listed purchase rate instead, and U.S. dollar cards by the lowest fee.

The list rebuilds every time the site is updated, so when an issuer changes an offer or a fee, the order changes with it. First-year value is a starting point, not the whole answer: a card with a smaller welcome offer can still earn more over several years if its everyday rates match your spending.

Each review shows those rates.

Why Mastercard matters in Canada: Costco

Costco warehouses in Canada take Mastercard but not Visa or American Express, according to [Costco Canada's payment methods page](https://customerservice.costco.ca/app/answers/answer_view/a_id/1017193/). Costco gas stations also take Mastercard.

If Costco is a regular stop, at least one card in your wallet should be a Mastercard. Our Costco credit card guide explains how purchases there are usually coded, which matters because many grocery bonuses don't apply at wholesale clubs.

Mastercard tiers: standard, World and World Elite

The tier on the card tells you roughly what comes with it. Standard Mastercards usually have no income requirement.

World Mastercard cards add some benefits and usually ask for a moderate income. World Elite Mastercard cards carry the richest insurance and perks, and usually require $80,000 personal or $150,000 household income.

Several World Elite cards, such as the Rogers Red World Elite, PC World Elite and Triangle World Elite, have no annual fee, which is unusual for a top-tier card. Our income requirements guide explains where the thresholds come from.

Pairing a Mastercard with other cards

A common setup is an American Express card for restaurants and groceries where it is accepted, plus a no-fee Mastercard for Costco and anywhere Amex is refused. Our Amex acceptance guide covers where Amex works, and the card stacks show complete two- and three-card setups.

FAQ

What is the best Mastercard in Canada?

It depends on what you want from the card. The top pick in each category above is the Mastercard with the highest current first-year value in that category. If you only want one card, start with the no annual fee or cash back picks, then read the review to check the everyday earn rates against your spending.

Is Mastercard or Visa better in Canada?

Neither network earns rewards on its own; the issuer sets the rewards. The practical difference is acceptance: Costco warehouses in Canada take Mastercard but not Visa. Outside Costco, both are accepted almost everywhere in Canada. See the best Visa cards to compare.

Which Mastercards have no annual fee?

Many do, including several World Elite cards. The no annual fee section above lists the top picks, and the no annual fee hub lists every $0 card on the site across all networks.

Do I need a World Elite Mastercard?

Only if you will use what it adds, usually travel insurance and higher earn rates, and you meet the income requirement. A standard or World Mastercard is often enough for Costco and everyday spending.

Every Mastercard card on this site

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