Best bank cards for online purchases
By Keph Senett on July 2, 2024
Estimated reading time: 3 minutes
If you earn points or money back in your in-store purchases, it’s possible you’ll be well-versed in your spending categories. But sometimes (not all the time) you do not get rewarded the way in which you’d expect while you make an internet purchase—some cards only provide you with the final “everything else” earning rate on online purchases. This will not be the case with our number of the very best bank cards for online shopping in Canada.
At a look: With a base cashback rate of two% on the whole lot— including online purchases — plus a wonderful 4% money back on gas and grocery purchases: you may earn money faster with the SimplyCash Preferred Card from American Express.
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SimplyCash Preferred from American Express
- Annual fee: 120$
- Earning rate: 4% money back on eligible gas and grocery purchases; 2% money back on the whole lot else
- Welcome offer: Receive a $40 statement credit for every monthly billing cycle by which you spend $750 on purchases along with your card.
- Annual income requirement: None
At a look: The Rogers Red World Elite Mastercard is a no-fee money back card that gives a formidable 1.5% money back on every purchase (plus an extra 0.5% for Rogers, Fido and Shaw customers) and three% on website purchases made in U.S. currency. YYou must spend not less than $15,000 per yr on the cardboard to stay eligible.
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Rogers Red World Elite Mastercard
- Annual fee: $0
- Earning rate: 1.5% cashback on all purchases or 2% for Rogers, Fido and Shaw customers; 3% cashback on all purchases in USD
- Welcome Bonus: This card doesn’t currently offer a welcome bonus.
- Annual income requirement: Personal income of $80,000 or household income of $150,000
Meridian Visa Infinite Travel Rewards
At a look: Meridian Visa Infinite Travel Rewards cardholders earn 1.5 points per dollar (1.50% in travel rewards) on all purchases, including online purchases, and three points per dollar on foreign currency purchases—which covers the foreign transaction fee and leaves a small balance left over.
Meridian Visa Infinite Travel Rewards
- Annual fee: 99$
- Earning rate: 1.5 points per dollar; 3 points per dollar for purchases in foreign currency
- Welcome offer: This card doesn’t currently offer a welcome bonus.
- Annual income requirement: Personal income of $60,000 or household income of $100,000
At a look: Home Trust Preferred Visa is an excellent, easy money back card with no annual fee. This card earns you 1% money back on all purchases made in Canada. Even higher, there isn’t a foreign transaction fee on purchases made in one other currency with this card. That’s an automatic 2.5-3% savings and is incredibly precious for individuals who shop at online retailers from the US.
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Home Trust Preferred Visa
- Annual fee: $0
- Earning rates: 1% on all purchases in Canada and no FX fees on purchases in foreign currency
- Welcome offer: This card currently has no welcome bonus
Amazon Rewards Mastercard
At a look: The Amazon Rewards Mastercard is right for frequent Amazon shoppers with Prime membership, as Prime account holders receive increased rewards when shopping at the web retail giant.
Amazon Rewards Mastercard
- Annual fee: $0 (Prime subscription required for all card advantages)
- Earning rate: Prime members earn 2.5% on Amazon.ca and foreign currency transactions. Non-Prime members earn 1.5% back on Amazon.ca. Everywhere else you earn 1%.
- Welcome offer: 5% back at Amazon.ca and Whole Foods Market stores for six months as much as $3,000 on eligible purchases (for a $150 value)
- Income requirement: not specified
Prime members profit from the cardboard’s foreign transaction fees being offset by money back rewards, which is handy while you travel or shop online in several currencies. The downsides? Although the cardboard technically has no annual fee, as a non-paying Prime member (membership costs $99 annually or $9.99 monthly), you may be significantly downgraded to simply 1.5% on Amazon purchases and lose the good thing about no foreign transaction fees. Plus, your rewards cannot be used for money back and are only redeemable for Amazon gift cards.
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