From cash back to travel rewards credit cards, Visa has a credit card option for everyone. Plus, they are recognized and accepted not just across Canada, but also around the world. Here are our top picks for the best Visa credit cards in Canada for 2020.
When it comes to credit card processors in Canada, Visa is a top player. Everyone recognizes the name, and for the most part, Visa is widely accepted across Canada and abroad, making it a smart choice for consumers. With everything from no annual fee cards to cash back cards to student cards, Visa has a credit card option to meet your needs. We’re sharing our top picks for the best Visa credit cards in Canada for 2020.

The Best Visa Credit Cards in Canada in 2020

Best Travel Visa Credit Card: TD® Aeroplan® Visa Infinite* Card

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If you are a frequent traveller, then consider adding the TD® Aeroplan® Visa Infinite* Card to your wallet. If you apply by May 31, 2020, you can earn up to 30,000 Aeroplan Miles (the equivalent of 2 economy short-haul roundtrip flight rewards!). How it works: you’ll get 15,000 Miles after you make your first purchase with your card. Then get another 5,000 Miles in each of the first three months when you spend a minimum of $1,000 per month – earning up to a total of 15,000 Miles. You’ll also get the annual fee ($120) rebated for the first year of card membership for both the primary and first additional cardholder

After the promotional period ends, you earn Aeroplan miles at a rate of 1.5 Miles per every $1 spent on eligible gas, grocery, drugstore, and AirCanada.com purchases or 1 Mile for all other purchases. You can also earn Miles twice when shopping at the Aeroplan store or participating retailers when you shop with your TD® Aeroplan® Visa Infinite* Card and present your Aeroplan membership card.

Additional perks with the TD® Aeroplan® Visa Infinite* Card include comprehensive travel insurance, preferred rates at participating Avis Rent-A-Car and Budget Rent-A-Car locations, one free guest pass to the Air Canada Maple Leaf lounge annually (when travelling on an Aeroplan redemption), and purchase security and extended warranty protection.

 The Details:

  • Annual Fee: $120 (annual fee rebate for first year if you apply by May 31, 2020)
  • Income Eligibility: $60,000 personal or $100,000 household
  • Credit Score Required: Good to Excellent
  • Welcome Bonus: First year annual fee rebate + earn up to 30,000 Aeroplan Miles (Conditions apply. Must apply by May 31, 2020)
  • Additional Perks: Comprehensive travel insurance
  • Interest on Purchases: 19.99%| Interest on Cash Advances: 22.99%
Learn more about the TD® Aeroplan® Visa Infinite* Card.

*This offer is not available for residents of Quebec. For Quebec residents, please click here.


Best Cash Back Visa Credit Card: Scotia Momentum® Visa Infinite* Card

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When it comes to the best Visa card in Canada for cash back, our top pick is the Scotia Momentum® Visa Infinite* Card.  Not only is it one of the best Visa credit cards, but it’s also one of the best cash back credit cards in Canada. For starters, cardholders earn 4% cash back for every $1 spent on grocery store purchases, recurring bill payments, and subscription purchases (like Chefs Plate or Netflix).  You’ll also get 2% cash back for every $1 spent on gas and daily transit, as well as 1% cash back on everything else with no cash back limit.

The generous welcome bonus is also enticing. New cardholders earn 10% cash back on all purchases for the first three months of card membership (up to $2000 in total purchases). Plus, there’s no annual fee in the first year, including on supplementary cards. Additional perks with the Scotia Momentum® Visa Infinite* Card include Visa Infinite* privileges, a comprehensive travel insurance package, and new mobile device insurance.

The Details:

  • Annual Fee: $120 (first year waived)
  • Income Eligibility: $60,000 personal income or $100,000 household
  • Credit Score Required: Good to Excellent
  • Welcome Bonus: 10% cash back for the first 3 months (up to $2000 in total purchases) and the annual fee waived for first year
  • Additional Perks: New mobile device and travel insurance
  • Interest on Purchases: 20.99% | Interest on Cash Advances: 22.99%
Learn more about the Scotia Momentum® Visa Infinite* Card.

Best Student Visa Credit Card: Scotiabank SCENE®* Visa* Card

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Students looking for a no annual fee credit card with some great perks should consider the Scotiabank SCENE®* Visa* Card.  This credit card is considered to be one of the best student credit cards in Canada, thanks to how easy it is to collect and redeem points for free movies or discounts at participating restaurants.

Cardholders earn 1 SCENE point for every $1 spent on your card purchases. That rate will be accelerated to 5 SCENE points for every $1 spent at Cineplex theatres of Cineplex.com. Points can be redeemed at several movie theatres (1,250 SCENE points is equal to 1 free movie) or at partner restaurants (1,000 SCENE points is $10 off your bill).  Right now, new cardholders can earn an extra 2,500 bonus SCENE points (equal to 2 free movies) with after spending $500 in card purchases in the first 3 months. Cardholders also receive preferred rates on car rentals with participating AVIS and Budget rent-a-car locations.

The Details:

  • Annual Fee: $0
  • Income Eligibility: $12,000
  • Credit Score Required: Fair to Good
  • Welcome Bonus: Earn 2,500 bonus SCENE points with your first $500 in everyday purchases in the first 3 months.
  • Additional Perks: Car rental discounts at participating AVIS and Budget rent-a-car locations.
  • Interest on Purchases: 19.99%| Interest on Cash Advances: 22.99%
Learn more about the Scotiabank SCENE®* Visa* Card.

Best No Annual Fee Visa Credit Card: Scotia Momentum® No-Fee Visa* Card

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Don’t feel like paying for the privilege of using a credit card? Don’t worry, we’ve got you covered with the Scotia Momentum® No-Fee Visa* Card. Most no annual fee credit cards offer very limited (if any, perks and benefits) but the Scotia Momentum® No-Fee Visa* Card allows cardholders to earn cash back on eligible purchases and comes with a few additional perks.

Cardholders earn 1% cash back at eligible gas stations, grocery stores, drug stores, and recurring bill payments. For all other eligible purchases, you will earn 0.5% cash back. Plus, for the first 6 months, new cardholders get a low 7.99% introductory interest rate on everyday purchases for the first 6 months (19.99% after that). Another benefit with the Visa card is that cardholders will receive a discount on car rentals at participating AVIS or Budget rent-a-car locations.

The Details:

  • Annual Fee: $0
  • Income Eligibility: $12,000
  • Credit Score Required: Fair to Good
  • Welcome Bonus: 7.99% introductory interest rate on everyday purchases for the first 6 months (19.99% after that)
  • Additional Perks: Cash back; discounts on car rentals at participating AVIS and Budget rent-a-car locations
  • Interest on Purchases: 19.99% | Interest on Cash Advances: 22.99%
Learn more about the Scotia Momentum® No-Fee Visa* Card.

Best Low-Interest Visa Credit Card: TD Emerald Flex Rate Visa* Card

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Hands down, the TD Emerald Flex Rate Visa* Card is our top choice for the best low-interest rate credit card in Canada. It’s pretty innovative: instead of a flat fee interest rate, the card’s purchase interest rate is variable. That means it is tied to the TD Prime Rate and varies depending on your credit assessment. TD’s Prime Rate is currently 2.450% (as of March 27, 2020), so here’s how it works:

  • Customers with a good credit score could qualify for a purchase interest rate as low as TD Prime + 4.50%. The lowest possible interest rate is 6.95%.
  • Less credit-worthy applicants could qualify for an interest rate of 15.20% (TD Prime + 12.75%).

It’s important to note if TD Bank raises its prime rate, your interest rate on your outstanding debt also increases. But since prime interest rates have been low in Canada, you could end up saving money over the long-term. If you have a good credit rating, this card is a great option for getting an ultra-low interest rate. The annual fee is also very affordable at $25.

The Details:

  • Annual Fee: $25
  • Income Eligibility: None
  • Credit Score Requirement: Good to Excellent
  • Additional Perks: Low variable interest rate
  • Interest on Purchases: TD Prime + 4.50% to 12.75% | Interest on Cash Advances: TD Prime + 4.50% to 12.75%

Learn more about the TD Emerald Flex Rate Visa* Card.

This offer is not available for residents of Quebec. For Quebec residents, please click here.


Best Balance Transfer Visa Credit Card: Scotiabank Value® VISA* Card

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If you tend to carry a balance each month, adding the Scotiabank Value® VISA* Card to your wallet is a smooth move. Offering a 12.99% interest rate for purchases and cash advances, this card also has one of the lowest interest rates on the market, and it could save you oodles in interest charges. For example, if you carried a balance of $3,000 on this credit card, you would pay $32.03 per month in interest charges. If you carried that balance on a credit card charging 19.99% interest, you would pay $49.29 per month. After just two months, that’s enough interest saved to pay for the $29 annual fee.

Plus, if you transfer a balance onto this credit card, you’ll only pay 0.99% interest for the first 6 months. After that, the remaining balance will be subject to the 12.99% interest rate on balance transfers. Cardholders will also save up to 25% off on base rates at participating AVIS locations and at participating Budget locations in Canada and the U.S.

The Details:

  • Annual Fee: $29
  • Minimum Income Eligibility: $12,000
  • Credit Score Required: Fair to Good
  • Welcome Offer: 0.99% introductory interest rate on balance transfers for the first 6 months
  • Additional Perks: Up to 25% discount when renting cars from Avis in Canada or the USA
  • Interest on Purchases: 12.99% | Interest on Cash Advances: 12.99% | Interest on Balance Transfers: 12.99%
Learn more about Scotiabank Value® VISA* Card

Summary of the Best Visa Credit Cards in Canada in 2020

Credit CardAnnual FeeStand-Out FeatureMore information
TD® Aeroplan® Visa Infinite* Card$120 (Annual fee rebate for first year if you apply by May 31, 2020)*Welcome bonus of up to 30,000 Aeroplan Miles*Learn More
Scotia Momentum® Visa Infinite* Card$120 (first year free)Welcome offer of 10% cash back for the first 3 months (up to $2,000 in purchases)*Learn More
Scotiabank SCENE®* Visa* Card$0Earn 2,500 bonus SCENE points with your first $500 in everyday purchases in 3 monthsLearn More
Scotia Momentum® No-Fee Visa* Card

 
$0Cash back on all eligible purchasesLearn More
TD Emerald Flex Rate Visa* Card $25Low interest rateLearn More
Scotiabank Value® VISA* Card$290.99% introductory interest rate on balance transfers for the first 6 monthsLearn More
*Conditions apply

Closing Words: How to Choose?

When it comes to choosing a credit card, Visa has plenty of options. Whether you’re looking for a low interest rate, cash back rewards, or no annual fee, each of these best Visa credit cards in Canada has something to offer. However, if you’re a frequent traveller looking to maximize your travel rewards, then you may want to check out the best travel credit cards in Canada. Or if you want to compare the competition, check out the best Canadian credit cards before making a decision. If you’re chasing a low interest rate, consider one of the best low interest rate credit cards in Canada. You’re bound to find something that suits your needs.

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