Consumers are bombarded – in their inboxes, on billboards, at the mall – with invitations to apply for new credit cards. Determining whether a new credit card is better than the one already in your wallet can be a confusing process. That’s why The Globe and Mail has launched the Big Guide to Credit Cards to help readers find the card that best matches their financial goals. We want to make the decision-making process clearer and more informed, by providing valuable guidance as consumers navigate options like rewards programs, interest rates, and fees.

Cash Back cards were ranked based on the amount of money returned to cardholders once any fees are deducted. We calculated amounts for three years and five years based on cash-back value, annual fee, and sign-up bonus. Perks and insurance are displayed on our page but are not factored into the ranking.

All card and promotion information was collected as of Sept. 20, 2024. Sign-up offers and terms are constantly changing and our calculations reflect the cards’ benefits at that time. Unlike many guides, ours wasn’t sponsored by a credit card company or bank and we don’t receive any financial compensation if you decide to apply for one of the cards on our list.

Methodology: How we ranked our Big Guide to Canadian Credit Cards

The merits of a credit card vary based on your personal goals and financial needs. Below, we’ve highlighted a number of options worth considering. But you can also tailor the rankings to your preferences using our interactive tool, which allows you to filter based on card company, individual or household income requirements, and whether there is an annual fee.

Here are three cards to consider.

Top cash generator

True to its name, the SimplyCash Preferred Card from American Express offers impressive cash-back earning rates – 4% on gas and groceries, plus a rare 2% rate on all other purchases – all for a monthly fee of $9.99 ($119.88 annually), making it ideal for savvy spenders. With no income requirements, it’s accessible to a wide range of consumers looking to maximize their cash-back rewards, even though American Express has a more limited network of merchants who accept it in Canada, compared with Visa and Mastercard.

Best entry-level card if you’re a Rogers user

With no income requirements and no annual fee, the Rogers Red Mastercard is an excellent option for Rogers, Fido, or Shaw customers seeking an entry-level card to boost their cash back rewards. It offers a flat cash-back rate of 2% on both Canadian-dollar and U.S.-dollar purchases, and 3% when you redeem your cash back on eligible Rogers, Fido, and Shaw purchases, including bill payments. The $60 sign-up bonus, as of the information collected, makes the Rogers Red Mastercard a better choice than its premium counterpart, the Rogers Red World Elite Mastercard (which offers 3% cash back on U.S.-dollar purchases), for Rogers users who do not plan to make large U.S.-dollar purchases.

A good second choice for big gas and grocery spenders

The CIBC Dividend Visa Infinite Card is worth considering for its high cash-back rates across various spending categories: earn 4% on eligible gas, EV charging, and groceries; 2% on transportation, dining, and recurring payments; and 1% on everything else. While it has an annual fee of $120, the first year is currently rebated, giving new users a chance to try it out at no cost. Additional perks include no foreign-transaction fees for sending money abroad to over 120 countries, savings of up to 10 cents per litre at participating gas stations when linked with Journie Rewards, and up to 35% off auto rentals at Avis and Budget.

More from The Big Guide to Canadian Credit Cards

Introducing The Globe’s first ever Big Guide to Canadian Credit Cards

How to choose the right Canadian credit card for your financial needs