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The Top 6 Credit Cards For Families In Canada

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Last updated on December 17, 2020
family credit cards

Are you looking for the best credit card for your family? When you look at credit cards, several of them come with many incentives. You could have a no annual fee credit card, a travel credit card, a grocery credit card, or a cash back credit card. But which card is best for your family?

When choosing a credit card for your family, you will want to consider your spending, what type of rewards you want to earn, and what perks you may get with the credit card. The credit card you opt for should fulfill the requirements of your family and offer significant rewards.

To make things easier for you, we have handpicked some of the best credit cards that offer something for every Canadian family.

Scotiabank Gold American Express Card

Scotiabank®* Gold American Express®

scotiabank gold american express

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on Scotiabank's website

Welcome Offer: 25,000 Scotia Rewards points.

Earn Rate: 5x points for every $1 spent on eligible grocery, restaurants, fast food, drinking establishments, entertainment. 3x points for every $1 spent on gas, transit, and streaming services. 1x point for everything else. No FX Fees.

Annual Fee: $120

Min. Income Required: Personal - $12,000

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If you and your family spend big on dining, entertainment, and groceries, then this credit card from Scotiabank is perfect for you.

You will get 25,000 bonus points when you spend $1,000 in the first 90 days of card ownership. What’s more, you do not have to pay foreign transaction fees on overseas or online purchases.
Plus, you also get to enjoy all that American Express Experiences has to offer. It means that your family can book events, staycations, and vacations without any difficulty. And the card’s yearly fee is $120.

Furthermore, you will get 5x reward points for each $1 you spend at food delivery services, grocery stores, restaurants, and fast-food establishments. And you will earn 5x reward points for each $1 you spend on entertainment purchases. Other than that, you will get 3x reward points for each $1 you spend on taxis, subways, buses, public transit, and gas.

Apart from this, you will also get 3x reward points for each $1 you spend on streaming services. Finally, you will get 1x reward points per $1 you spend elsewhere. When it comes to cashing in your reward points, you have an array of options to choose from. You can redeem your reward points for a statement credit, gift cards, merchandise, and travel.

The card also offers a variety of insurance coverages, including:

  • Travel emergency medical insurance: Coverage is provided for individuals who are below 65 years of age for 25 consecutive days. However, coverage is just for three consecutive days if you are 65 years of age and above.
  • Trip interruption or cancellation insurance: You qualify for this coverage when you charge 75% of the cost of your trip to your credit card.
  • Apart from these insurance coverages, you will also receive hotel burglary insurance, rental car damage insurance, travel accident insurance, and flight delay insurance.

This credit card also has a package of extra perks including:

  • American Express Experiences (previously Invites): You will get special invites to events, such as fashion experiences, dining, concerts, and movie previews.
  • Discounted Priority Pass membership: With this card, you get a discounted membership of $65 to Priority Pass. Also, you will have to pay $32 each time you visit an airport lounge (your friends or relatives are an extra $32 each).
  • Free concierge service: You can book your restaurant reservations and events with this service.
  • Extended warranty
  • Purchase security
  • Front Of The Line presale tickets
  • Scotia Rewards Travel Service: Book your trips through this service and take advantage of the best available price guarantee on airfares for 24 hours after booking.

SimplyCash Card from American Express

SimplyCash™ Card from American Express

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on American Express' website

Welcome Offer: 2.5% cashback in your first 3 months (up to $150 cashback).

Earn Rate: Flat rate of 1.25% back on purchases when your welcome period ends.

Annual Fee: $0

Min. Income Required: $0

This card is without any yearly fee. Plus, there is no yearly fee for extra cards. The credit card allows you to earn 1.25% cash back on all your purchases. It also gives you the ability to earn 2.50% cash back on your purchases at restaurants, grocery shops, and gas stations in the first 90 days of account approval.

In addition to this, you also get American Express Experiences that gives you special access to deals, presale tickets, and events. This card from American Express provides insurance coverage that includes car rental damage, travel accidents, buyer’s assurance, and purchase protection.

American Express Gold Rewards Card

American Express® Gold Rewards Card

American Express Gold Rewards Card

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on American Express' website

Welcome Offer: 25,000 Points when you charge $1,500 in purchases to your Card in your first 3 months of Card membership

Earn Rate: 2x points for travel, groceries, gas stations, and drugstores. 1x point on everything else.

Annual Fees: $150

Min. Income Required: $0

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This credit card offers 25,000 points as a sign-up bonus. All you need to do is spend $1,500 within the first 90 days of account opening. In addition to this, you will get two points for each $1 you spent on cruises, hotels, flights, drugstores, grocery, and gas. You will also get one point for each dollar you spent on other purchases.

With this credit card, you get price protection, purchase protection, travel accident insurance, lost luggage insurance, car rental damage insurance, flight delay insurance, and emergency medical insurance. The card has a yearly fee of $150. What’s more, it offers convenience and flexibility when redeeming reward points. You can transfer your reward points to frequent flyers and other programs, such as Asia Miles, Delta SkyMiles, and more. Also, you can use your reward points for purchases.

Tangerine World Mastercard

Tangerine World Mastercard®

tangerine world mastercard

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on Tangerine's website

Welcome Offer: choose up to 3 categories and receive a 2% cash back on those for the first 3 months.

Earn Rate: 2% cash back on two selected categories, and 0.5% on everything else. Get 2% cash back on a third category if you deposit your rewards into a Tangerine Savings Account.

Annual Fee: $0

Min. Income Required: $60,000 personal income or $100,000 household

This credit card has an offer of 2% cash back on purchases in up to three categories of your choice for the first 90 days of account opening. And you will get 0.5% cash back on other purchases. But the best thing about this credit card is that it has no yearly fees. Besides, this credit card from Tangerine comes with extra perks, including cell phone insurance, extended warranty, purchase protection, and rental car loss damage.

LoungeKey’s Mastercard Airport Experiences, cities experiences, and special offers are some other benefits of this credit card.

Scotia Momentum Visa Infinite Card

Scotia Momentum® Visa Infinite*

Scotia Momentum Visa Infinite

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on Scotia Bank's website

Welcome Offer: 10% cash back on all purchases for first 3 months (up to $2,000). No annual fee in the first year.

Earn Rate: 4% cash back on grocery, recurring bills, and subscription purchases. 2% back on gas and daily transit, and 1% back on everything else.

Annual Fee: $120

Min. Income Required: Personal $60,000 or Household $100,000 or a minimum assets under management of $250,000.

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We recommend this credit card to families for whom recurring bills and groceries are the biggest monthly expenses.
With this credit card, you will earn 10% cash back on all purchases for the first 90 days of account approval. The yearly fee for this credit card is $120. And every supplementary card carries a yearly fee of $50. The fee is waived for new cardmembers for the first year, though. You will get 4% cash back on subscription services, recurring bill payments, and groceries. Plus, you will earn 2% cash back on daily transit and gas and 1% cash back on anything else you purchase. You can redeem your reward points for cash back as a deposit into your Scotiabank savings or chequing account or as a statement credit.

The credit card also covers a variety of insurances, including:

  • Extended warranty
  • Purchase assurance
  • Rental car damage insurance
  • Travel accident insurance
  • Lost or delayed luggage insurance
  • Flight delay insurance
  • Travel medical insurance
  • Trip cancellation insurance
  • Cell phone insurance

Here are some other perks of this card.

  • Cardholders get access to concierge services that help to grab tickets and book reservations.
  • They get access to wonderful dining events with the best chef at the top wineries and restaurants across Canada with the Visa Infinite program.
  • Cardmembers can also save on rental cars at participating Budget locations and AVIS locations in Canada.

President’s Choice Financial World Elite Mastercard

This credit card has no yearly fee. It allows you to earn 30 optimum points for each dollar you spent at Shoppers Drug Mart, PC Travel, PC Mobile, and President’s Choice grocery shops. Plus, you will get 30 points per liter at Mobil and Esso gas stations. And you will earn 10 points for every $1 you spent on other purchases.

Redeeming your reward points is simple and easy. Once you collect 10,000 points, you can begin to redeem your rewards. You can redeem your reward points at Shoppers Drug Mart and Loblaw banner stores, including Wholesale Club, Independent, Zehrs, Fortinos, Valu-Mart, No Frills, and Loblaws.

Apart from this, you can also redeem your reward points online through PC Express, JoeFresh.ca, and Beautyboutique.ca.

The card comes with travel medical insurance that covers your family for up to $1 million for 10 days (below 65 years of age). As a matter of fact, this credit card is great for you if you and your family do a lot of traveling.

Additionally, it comes with free purchase assurance and free car rental insurance in the event of damage, loss, or theft in the first three months after you purchase an item with your credit card. Last but not least, this credit card comes with a free extended warranty.

You should have an annual income of $80,000 or a $150,000 household income to be eligible for this card.

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