The Best Cash Back and Rewards Credit Cards of 2022

With such a wide variety of cash back, low fee, and rewards credit cards on the market, choosing a credit card that fits to your lifestyle may be easier than you think. We’ve outlined some of the best credit cards at RBC, TD and Scotiabank to help you make the most out of your daily and travel spending.

What are the Best RBC Credit Cards for Travel and Everyday Use?


1. RBC’S Best Low Fee Travel Card: The Signature RBC Rewards Visa

*Special offer: Sign up before May 2nd 2022 and receive 7,000 RBC Rewards Points once approved*

Card Features:

  • Annual Fee: $39, no annual fee for students/RBC Signature No Limit Banking clients
  • Additional card fee: $0
  • Purchase rate: 19.99%
  • Cash advance rate: 22.99%
  • Earn 1 RBC rewards for every $1 spent
  • Redeem points for merchandise, gift cards, travel, and financial rewards (use points to pay off your credit card balance)
  • Eligible members can convert points to WestJet dollars, Hudson’s Bay rewards and much more
  • Enjoy insurance benefits such as car rentals, travel accident insurance, purchase security and extended warranty
  • Link your card at Petro-Can, Rexall and DoorDash for more savings

2.  Best Card for Everyday Use: RBC Rewards+ Visa

*Special offer: As a welcome bonus, receive 2,500 RBC Rewards Points upon approval (offer expires May 2, 2022)

*Earn up to 3,500 more RBC Rewards Points when you go paperless within the first 60 days by completing the following steps:

1) Share your email with RBC

2) Sign up online to receive e-statements for your card

3) Download and sign up for one of the following RBC apps: RBC mobile, RBC Launch or RBC Rewards

Card Features:

  • Annual fee: $0
  • Additional card: $0
  • Purchase rate: 19.99%
  • Cash advance rate: 22.99%
  • Earn 1 RBC Rewards Point for every $1 spent on groceries, drug store and gas purchases
  • Earn 1 RBC Reward Point for every $2 spent on all other purchases
  • Link your card at Petro-Canada, Rexall and DoorDash for more savings
  • Purchase Security and Extended Warranty Insurance

What are the Best TD Bank Credit Cards for Travel and Everyday use?


1. TD’s Best Travel Card: The TD Platinum Travel Visa Card

*Limited Time Offer: Apply by May 29th, 2022 and get up to 50,000 TD Rewards Points and an annual fee rebate for the first year. $370 total value

*Make a card purchase and get a welcome bonus of 15,000 TD Rewards Points

*Spend $1000 within 3 months (90 days) of account opening to get 35,000 TD Rewards Points

Card Features:

  • Annual fee: $89
  • Additional card: $35
  • Purchase rate: 19.99%
  • Cash advance: 22.99%
  • Earn 3 TD Rewards Points for every $1 spent on recurring bill payments and groceries, 5 TD Rewards Points for every $1 spent on travel when booked through ExpediaforTD.com, and 2 TD Rewards Points for every $1 spent on other purchases
  • Redeem points towards travel
  • Extra travel perks such as trip delay coverage, lost baggage coverage, accident insurance, Priority Pass discount, car rental savings and more

2. Best TD Card for Everyday use: TD Rewards Visa

*Limited time offer: Apply by May 29th, 2022 to earn a $50 equivalent value in TD Rewards Points to use towards Amazon.ca

*9.99% interest rate on purchases for the first 6 months

Card Features:

  • Annual fee: $0
  • Additional cards: $0
  • Purchase rate: 19.99%
  • Cash advance: 22.99%
  • Earn: 2 TD Rewards Points for every $1 spent on recurring bill payments, groceries, restaurants and fast food, 3 TD Rewards Points for every $1 booked on travel through ExpediaforTD.com

What are the Best Scotiabank Credit Cards for Travel and Everyday Use?


1. The Best Scotiabank Credit Card for Travel: Scotiabank American Express Card

Card Features:

  • Annual fee: $0
  • Additional card: $0
  • Purchase rate: 19.99%
  • Cash advance: 22.99%
  • Minimum credit limit: $1000
  • 1+ scene dollar for every $1 spent on every day purchases
  • Shopping and gift cards from more than 60 retailers
  • Redeem for money off your dining bill at eligible restaurants
  • Perks such as travel coverage and insurance, as well as cover trip costs made within the previous 12 months

2. Best Scotiabank Card for Everyday Use: Scotia Momentum No-Fee Visa

Card Features:

  • Annual fee: $0,
  • Additional card: $0
  • Purchase rate: 19.99%
  • Cash advance: 22.99%
  • Minimum credit limit: $500
  • Earn 1% cash back on all eligible grocery store, drug store and gas station purchases. Also receive 1% cash back for recurring payments.
  • Earn 0.5% cash back on all other eligible purchases
  • Turn recurring payments into cash back rewards
  • Save up to 25% on select AVIS and Budget locations in Canada and the US

When it comes to picking a credit card, it’s important to take in the consideration of cash back versus point rewards. To put it simply, cash back cards offer you a straight forward solution to earn some money back on purchases. In terms of points, you are most likely to get your money’s worth if you redeem those points to use for travel. It’s important to note the categories that you will earn the most cash back in (i.e.- 1% cash back on groceries, gas etc.) and take into consideration how much you will be spending in said categories in order to maximize the amount you are earning back from the credit card. In terms of point rewards cards, your points are best utilized when applying them towards travel, as many point reward cards offer great travel perks that your points can be used towards. Ultimately, it’s up to you to consider what areas you’re spending the most in, or what areas you want to apply your cash back/ points towards. Select the card that will maximize your perks in the area that you want it to most, such as cash back for groceries, or no blackout periods for flights.


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