Which card earns me the most?

Enter monthly spend by category. We rank cards by estimated net annual value: rewards earned (using the earn rates, caps, and tiers in our data) minus the annual fee. Cards we cannot model from the data are left out instead of guessed.

1Scotiabank Gold American Express Card

Scotiabank · American Express

+$414net / year

Rewards $534 − $120 fee

Groceries is the main driver (5 Scene+ points per $1 on Dining, food delivery, food subscriptions, other eligible grocery). Net of $120 annual fee.

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2SimplyCash Preferred Card from American Express

American Express · American Express

+$396net / year

Rewards $516 − $120 fee

Groceries is the main driver (4% cash back on Grocery). Net of $120 annual fee.

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3National Bank World Elite Mastercard

National Bank · Mastercard

+$378net / year

Rewards $528 − $150 fee

Groceries is the main driver (5 À la carte points per $1 on Eligible groceries and restaurants). Net of $150 annual fee.

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4CIBC Dividend Visa Infinite Card

CIBC · Visa

+$342net / year

Rewards $462 − $120 fee

Groceries is the main driver (4% cash back on Eligible gas, EV charging, groceries). Net of $120 annual fee.

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5BMO CashBack World Elite Mastercard

BMO · Mastercard

+$341net / year

Rewards $480 − $139 fee

Groceries is the main driver (5% cash back on Groceries). Net of $139 annual fee.

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6American Express Cobalt Card

American Express · American Express

+$318net / year

Rewards $510 − $192 fee

Groceries is the main driver (5 MR points per $1 on Eligible restaurants, stand-alone grocery stores, and food delivery in Canada). Net of $192 annual fee.

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7Scotia Momentum Visa Infinite Card

Scotiabank · Visa

+$312net / year

Rewards $432 − $120 fee

Groceries is the main driver (4% cash back on Groceries & recurring bill payments (bills, subscriptions)). Net of $120 annual fee.

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8SimplyCash Card from American Express

American Express · American Express

+$281net / year

Rewards $281

Groceries is the main driver (2% cash back on Grocery). No annual fee.

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9BMO eclipse Visa Infinite Card

BMO · Visa

+$270net / year

Rewards $390 − $120 fee

Groceries is the main driver (5 BMO Rewards points per $1 on Groceries). Net of $120 annual fee.

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10Simplii Financial Cash Back Visa

Simplii · Visa

+$252net / year

Rewards $252

Groceries is the main driver (1.5% cash back on Gas, groceries, drugstores, pre-authorized payments). No annual fee.

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11TD Cash Back Visa Infinite

TD · Visa

+$239net / year

Rewards $378 − $139 fee

Groceries is the main driver (3% cash back on Grocery, gas, EV charging, public transit). Net of $139 annual fee.

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12CIBC Costco Business Mastercard

CIBC · Mastercard

+$234net / year

Rewards $234

Groceries is the main driver (1% cash back on All other purchases). No annual fee.

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Assumptions

Net annual value = estimated rewards minus the listed annual fee.
Spend is treated as even across 12 months. Statement-period caps are modelled as monthly caps.
Store- and portal-specific rates (named grocers, Expedia/CIBC travel portals, airline/hotel partners) are not applied to general spend. Costco-specific rates apply only with the Costco shopper preference.
Choose-your-category cards assign the listed number of bonus categories to your highest spend buckets. We do not assume a linked bank account for extra categories.
Welcome values are the dollar amounts listed on the card. They may bundle a first-year fee waiver or other credits; we do not add extra value beyond that figure.

Point valuations (cents per point)

Rankings use each program’s issuer-published fixed redemption (statement credit or travel-at-fixed-value) when one exists. Aeroplan and Marriott Bonvoy have no issuer cash or fixed-value rate, so they are labelled Estimate.

Program	¢/pt	Basis
Cash back / BONUSDOLLARS	1¢	Fixed — 1% cash back = 1¢ on $1
RBC Avion Elite	1¢	Fixed — Avion Elite travel, 100 pts = $1 CAD
RBC ION+ (Avion Premium)	0.58¢	Fixed — ION/ION+ Avion Rewards travel, 172 pts = $1 CAD
Aeroplan	1¢	Estimate — no issuer cash or fixed-value rate
Scene+	1¢	Fixed — 1,000 pts = $10 grocery/pharmacy
Amex Membership Rewards	1¢	Fixed — 1,000 pts = $10 statement credit
TD Rewards	0.5¢	Fixed — 200 pts = $1 on Expedia for TD
BMO Rewards	0.67¢	Fixed — 150 pts = $1 travel Pay with Points
CIBC Aventura	1¢	Fixed — Flexible Travel, 100 pts = $1 CAD
CIBC Adapta	0.67¢	Fixed — 1,500 pts = $10 card/purchase
Marriott Bonvoy	0.6¢	Estimate — no issuer cash or fixed-value rate
National Bank À la carte	1¢	Fixed — 10,000 pts = $100 À la carte Travel
MBNA Rewards	0.5¢	Fixed — cash, 200 pts = $1 (Platinum Plus)
PC Optimum	0.1¢	Fixed — 10,000 pts = $10

Ranked 35 of 35 cards