The lists below rank Mastercard credit cards by need: cash back and no-fee cards by their yearly value at an assumed monthly spending after the annual fee, and points and World Elite cards by annual fee. The assumed spending, a pattern chosen for the arithmetic and not an average, is $600 on groceries, $200 on gas, $200 on dining, $150 on recurring bills, $100 on transit, $50 at drugstores, $100 on travel and $600 on everything else a month. On that pattern, among the cash back Mastercards with a yearly value, the first is Neo World Elite Mastercard, and among the no-fee Mastercards with a yearly value, the first is Capital One Quicksilver World Elite Mastercard and Capital One Quicksilver World Mastercard, tied. Welcome offers are left out; see how welcome offers work, and a side-by-side table of every card in this site’s card data is on compare credit cards.
Best Mastercards in Canada by need
Cash back Mastercards
These Mastercards pay cash back, in order of their yearly value at the assumed spending; a card with a dash in the value column follows the cards that have one.
| Card | Annual fee | What it earns | Yearly value at the assumed spending, after the fee |
|---|---|---|---|
| Neo World Elite Mastercard | $149/year | 5% groceries (first $1,000 a month), 4% recurring payments (first $500 a month), 3% gas (first $1,000 a month), then 1%; 1% everything else | $481 |
| BMO CashBack World Elite Mastercard | $139/year | 5% groceries (first $500/statement), 4% transit and 3% gas/EV charging (first $300/statement each), 2% recurring bills (first $500/statement), 1% everything else | $443 |
| Capital One Quicksilver World Elite Mastercard | $0 | 3% at eligible grocery stores (not superstores such as Walmart and Costco) and at gas stations and EV charging stations, 1% everywhere else | $432 |
| RBC Cash Back Preferred World Elite Mastercard | $120/year | 3% groceries/dining/gas/transit/streaming and more, 1% everything else | $384 |
| Rogers Red World Elite Mastercard | $0 | 3% on U.S. dollar purchases; 2% on other purchases with a qualifying Rogers, Fido, Shaw or Comwave service (1.5% without), on the first $61,000 a year, then 1.5% | $360 |
| CIBC Costco Mastercard | $0 | 3% restaurants and Costco gas, 2% other gas/EV charging and Costco.ca, 1% everything else including at Costco (gas rates on the first $5,000 a year in the gas category, Costco.ca on the first $8,000 a year, then 1%) | $312 |
| Tangerine Money-Back Credit Card | $0 | 2% cash back in 2 categories you choose (3 with rewards paid into a Tangerine Savings Account), 0.5% on everything else | $264, tied |
| Tangerine Money-Back World Mastercard | $0 | 2% cash back in 2 categories you choose (3 with rewards paid into a Tangerine Savings Account), 0.5% on everything else | $264, tied |
Yearly values use the spending assumed above and each card's published rates and caps. Welcome offers, first-year fee waivers and fee rebates tied to a bank account, banking package, profession or another card are not included.
Neo World Elite Mastercard
- Annual fee
- $149/year
- Earns
- 5% groceries (first $1,000 a month), 4% recurring payments (first $500 a month), 3% gas (first $1,000 a month), then 1%; 1% everything else
- Minimum income
- $80,000 personal or $150,000 household
- Network
- Mastercard, World Elite
- Value at the assumed spending, after the fee
- $481 a year
Provider's page for this card: Neo World Elite Mastercard
Neo Financial’s card pays higher rates on groceries, recurring payments and gas, and its base rate on everything else. Its card page states the annual fee and the minimum income, personal or household, shown in the lines above.
Points and travel Mastercards
These Mastercards earn points; the table orders them by annual fee and shows what each earns and the minimum income its provider asks for.
| Card | Annual fee | What it earns | Minimum income |
|---|---|---|---|
| MBNA Rewards World Elite Mastercard | $120/year | 5 points per $1 on restaurant, grocery, digital media, membership and utility purchases (up to $50,000 a year per category), 1 point per $1 on everything else | Personal income greater than $80,000, or household income of $150,000 or more |
| WestJet RBC World Elite Mastercard | $139/year | 2 WestJet points per $1 on WestJet flights, WestJet and Sunwing Vacations, grocery stores (not Costco or Walmart) and transportation, 1.5 points per $1 on other everyday purchases | $80,000 personal or $150,000 household |
| BMO Ascend World Elite Mastercard | $150/year | 5x BMO Rewards points on travel (first $15,000/yr), 3x dining/entertainment/recurring bills (first $10,000/yr each), 1x everything else | $80,000 personal or $150,000 household |
| National Bank World Elite Mastercard | $150/year | 5x on groceries and restaurants (first $2,500 of monthly purchases, then 2x), 2x gas/EV charging/recurring bills/À la carte Travel, 1x everything else | $80,000 personal or $150,000 household |
| BMO Blue Rewards World Elite Mastercard | $150/year | 10 Blue Points per $1 at partners (first $25,000 a year), 2 on groceries/gas/EV charging/wholesale/alcohol (first $500 per category per statement), 1 on everything else | $80,000 personal or $150,000 household |
| BMO VIPorter World Elite Mastercard | $199/year | 3x VIPorter points on Porter purchases, 2x gas/transportation, dining/grocery and hotels (each bonus category capped annually), 1x everything else | $80,000 personal or $150,000 household |
Welcome offers, first-year fee waivers and fee rebates tied to a bank account, banking package, profession or another card are not included.
MBNA Rewards World Elite Mastercard
- Annual fee
- $120/year
- Additional card
- $50/year
- Earns
- 5 points per $1 on restaurant, grocery, digital media, membership and utility purchases (up to $50,000 a year per category), 1 point per $1 on everything else
- Minimum income
- Personal income greater than $80,000, or household income of $150,000 or more
- Network
- Mastercard, World Elite
- Insurance the provider lists
- Travel medical: Travel medical insurance included: up to $2 million of coverage for the first 21 days of the trip, for an insured person under 65 years of age
- Rental car: Collision damage waiver benefits for eligible auto rental damage, up to 31 consecutive days
Provider's page for this card: MBNA Rewards World Elite Mastercard
MBNA’s card pays its higher points rate on eligible restaurant, grocery, digital media, membership and household utility purchases. That rate stops in each of those categories once the yearly spending limit shown above is reached in it, and other eligible purchases earn the base rate. MBNA states its minimum income as personal or household income, as the line above shows.
World Elite Mastercards
The table orders these World Elite Mastercards by annual fee and shows the provider of each and the minimum income it asks for.
| Card | Provider | Annual fee | Minimum income | What it earns |
|---|---|---|---|---|
| Rogers Red World Elite Mastercard | Rogers Bank | $0 | $80,000 personal or $150,000 household | 3% on U.S. dollar purchases; 2% on other purchases with a qualifying Rogers, Fido, Shaw or Comwave service (1.5% without), on the first $61,000 a year, then 1.5% |
| Capital One Quicksilver World Elite Mastercard | Capital One Canada | $0 | $80,000 personal or $150,000 household | 3% at eligible grocery stores (not superstores such as Walmart and Costco) and at gas stations and EV charging stations, 1% everywhere else |
| Desjardins Cash Back World Elite Mastercard | Desjardins | $100/year | – | Up to 4% cash back on purchases |
| MBNA Rewards World Elite Mastercard | MBNA | $120/year | Personal income greater than $80,000, or household income of $150,000 or more | 5 points per $1 on restaurant, grocery, digital media, membership and utility purchases (up to $50,000 a year per category), 1 point per $1 on everything else |
| RBC Cash Back Preferred World Elite Mastercard | RBC Royal Bank | $120/year | $80,000 personal or $150,000 household | 3% groceries/dining/gas/transit/streaming and more, 1% everything else |
| Desjardins Odyssey World Elite Mastercard | Desjardins | $130/year | – | Up to 3% of purchases in BONUSDOLLARS |
| WestJet RBC World Elite Mastercard | RBC Royal Bank | $139/year | $80,000 personal or $150,000 household | 2 WestJet points per $1 on WestJet flights, WestJet and Sunwing Vacations, grocery stores (not Costco or Walmart) and transportation, 1.5 points per $1 on other everyday purchases |
| BMO CashBack World Elite Mastercard | BMO | $139/year | $80,000 personal or $150,000 household | 5% groceries (first $500/statement), 4% transit and 3% gas/EV charging (first $300/statement each), 2% recurring bills (first $500/statement), 1% everything else |
| Neo World Elite Mastercard | Neo Financial | $149/year | $80,000 personal or $150,000 household | 5% groceries (first $1,000 a month), 4% recurring payments (first $500 a month), 3% gas (first $1,000 a month), then 1%; 1% everything else |
| BMO Ascend World Elite Mastercard | BMO | $150/year | $80,000 personal or $150,000 household | 5x BMO Rewards points on travel (first $15,000/yr), 3x dining/entertainment/recurring bills (first $10,000/yr each), 1x everything else |
| National Bank World Elite Mastercard | National Bank of Canada | $150/year | $80,000 personal or $150,000 household | 5x on groceries and restaurants (first $2,500 of monthly purchases, then 2x), 2x gas/EV charging/recurring bills/À la carte Travel, 1x everything else |
| BMO Blue Rewards World Elite Mastercard | BMO | $150/year | $80,000 personal or $150,000 household | 10 Blue Points per $1 at partners (first $25,000 a year), 2 on groceries/gas/EV charging/wholesale/alcohol (first $500 per category per statement), 1 on everything else |
| BMO VIPorter World Elite Mastercard | BMO | $199/year | $80,000 personal or $150,000 household | 3x VIPorter points on Porter purchases, 2x gas/transportation, dining/grocery and hotels (each bonus category capped annually), 1x everything else |
A dash means this table shows no figure for that card. Welcome offers, first-year fee waivers and fee rebates tied to a bank account, banking package, profession or another card are not included.
Rogers Red World Elite Mastercard
- Annual fee
- $0
- Additional card
- $0
- Earns
- 3% on U.S. dollar purchases; 2% on other purchases with a qualifying Rogers, Fido, Shaw or Comwave service (1.5% without), on the first $61,000 a year, then 1.5%
- How cash back is paid
- Cash back rewards are redeemed in the Rogers Bank app, with a minimum redemption of $10.
- Points value
- From November 18, 2026, a standard rate of 1 point per $0.01 on all purchases, including eligible Rogers purchases; until then, points applied to eligible Rogers purchases are worth 1.5 times the regular value.
- Minimum income
- $80,000 personal or $150,000 household
- Network
- Mastercard, World Elite
- Insurance the provider lists
- Travel medical: Emergency travel medical insurance included (limits are in the certificate)
- Trip cancellation: Included until November 18, 2026, then removed
- Rental car: Car rental collision and loss damage insurance included (limits are in the certificate)
- Purchase protection: Purchase Protection included
- Extended warranty: Extended Warranty Insurance included
Provider's page for this card: Rogers Red World Elite Mastercard
Rogers Bank’s card pays a higher rate on U.S. dollar purchases, and its rate on other eligible purchases is higher for a customer with a qualifying Rogers, Fido, Shaw or Comwave service. These rates apply to the spending limit in each annual period shown above; after it, eligible purchases earn the base rate until the reset date. Rogers Bank has announced a change to this card’s trip insurance, with its date in the lines above, and, from November 18, 2026, a change to how its cash back is redeemed and a higher rate on certain eligible Rogers purchases, both stated on the card’s page. More on the card is in the Rogers World Elite Mastercard review.
Mastercard tiers: Mastercard, World and World Elite
The level is part of each card’s name, and Rogers Bank and Capital One state a minimum income for their World and World Elite cards, as personal or household income. Rogers Bank offers its Red card at three levels:
- Rogers Red Mastercard: None stated; subject to credit approval
- Rogers Red World Mastercard: minimum income $50,000 personal or $80,000 household
- Rogers Red World Elite Mastercard: minimum income $80,000 personal or $150,000 household
Capital One offers its Quicksilver card at two levels, with these rates and minimum incomes:
- Capital One Quicksilver World Mastercard: 3% at eligible grocery stores (not superstores such as Walmart and Costco) and at gas stations and EV charging stations, 1% everywhere else; minimum income $50,000 personal or $80,000 household
- Capital One Quicksilver World Elite Mastercard: 3% at eligible grocery stores (not superstores such as Walmart and Costco) and at gas stations and EV charging stations, 1% everywhere else; minimum income $80,000 personal or $150,000 household
Where the World Elite table shows a minimum income, it is the one the card’s provider states on its own page.
Mastercard at Costco warehouses and gas stations
Costco Canada gives a separate list of payment methods for its warehouses, its gas stations and Costco.ca. The warehouse list names Mastercard, debit cards, cash, the Costco Shop Card, personal cheques and Apple Pay. The gas-station list names Mastercard credit and debit cards, debit cards and the physical Costco Shop Card; Cash and Digital Shop Cards are not accepted at Costco gas stations. Mastercard is the one credit card network the warehouse and gas-station lists name. For online orders, Costco.ca accepts the following credit cards: MasterCard (the preferred credit card of Costco.ca) and VISA. Costco co-brands a card with CIBC, the CIBC Costco Mastercard. That card’s rates and caps are in the CIBC Costco Mastercard review, and other cash back cards for Costco spending are on best cash back credit cards.
No-fee Mastercards
These Mastercards have no annual fee, in order of their yearly value at the assumed spending; a card with a dash in the value column follows the cards that have one.
| Card | What it earns | Minimum income | Yearly value at the assumed spending, after the fee |
|---|---|---|---|
| Capital One Quicksilver World Elite Mastercard | 3% at eligible grocery stores (not superstores such as Walmart and Costco) and at gas stations and EV charging stations, 1% everywhere else | $80,000 personal or $150,000 household | $432, tied |
| Capital One Quicksilver World Mastercard | 3% at eligible grocery stores (not superstores such as Walmart and Costco) and at gas stations and EV charging stations, 1% everywhere else | $50,000 personal or $80,000 household | $432, tied |
| Rogers Red World Elite Mastercard | 3% on U.S. dollar purchases; 2% on other purchases with a qualifying Rogers, Fido, Shaw or Comwave service (1.5% without), on the first $61,000 a year, then 1.5% | $80,000 personal or $150,000 household | $360 |
| CIBC Costco Mastercard | 3% restaurants and Costco gas, 2% other gas/EV charging and Costco.ca, 1% everything else including at Costco (gas rates on the first $5,000 a year in the gas category, Costco.ca on the first $8,000 a year, then 1%) | $15,000 annual income | $312 |
| BMO CashBack Mastercard | 3% groceries and 1% recurring bills (first $500 per statement period each), 0.5% everything else | – | $279 |
| Tangerine Money-Back Credit Card | 2% cash back in 2 categories you choose (3 with rewards paid into a Tangerine Savings Account), 0.5% on everything else | $12,000 gross annual income | $264, tied |
| Tangerine Money-Back World Mastercard | 2% cash back in 2 categories you choose (3 with rewards paid into a Tangerine Savings Account), 0.5% on everything else | $50,000 gross annual income, $80,000 gross household income, or $250,000 in Tangerine Savings and/or Investment Fund Accounts | $264, tied |
| RBC Cash Back Mastercard | 2% groceries, 1% gas/EV charging/rideshare/transit, 0.5% everything else | – | $246 |
| Rogers Red World Mastercard | 2% with a qualifying Rogers, Fido, Shaw or Comwave service (2% on U.S. dollar purchases, 1% on other purchases without one), on the first $26,000 a year, then 1% | $50,000 personal or $80,000 household | $240, tied |
| Amazon.ca Rewards Mastercard | 2.5% back at Amazon.ca and Whole Foods Market for eligible Prime members (1.5% without Prime), 1% on other eligible purchases (eligible Prime members: 2.5% on foreign currency transactions) | None stated; Canadian resident of the age of majority | $240, tied |
| Rogers Red Mastercard | 2% with a qualifying Rogers, Fido, Shaw or Comwave service (2% on U.S. dollar purchases, 1% on other purchases without one), on the first $16,000 a year, then 1% | None stated; subject to credit approval | $240, tied |
| CIBC Adapta Mastercard | 1.5x in your top 3 spend categories each month, 2x eligible travel via CIBC by Expedia, 1x everything else | $15,000 household | – |
| MBNA Rewards Platinum Plus Mastercard | 2 points per $1 on restaurant, grocery, digital media, membership and utility purchases (up to $10,000 a year per category), 1 point per $1 on everything else | None stated; Canadian resident of the age of majority | – |
A dash means this table shows no figure for that card. Yearly values use the spending assumed above and each card's published rates and caps. Welcome offers, first-year fee waivers and fee rebates tied to a bank account, banking package, profession or another card are not included.
No-fee cards on other networks are ranked on no-fee credit cards.
How this ranking works
Each list holds Mastercard cards from this site’s card data that fit the list’s need. Cash back and no-fee lists are ordered by yearly value at the assumed spending: each category’s published rate and cap, minus the annual fee, with a statement period counted as a month. A card whose provider lets the cardholder pick bonus categories is valued with groceries and gas picked. A Rogers Bank card is valued at its rate without a qualifying service. Points and World Elite lists are ordered by annual fee. The full method is on best credit cards.
Related rankings
- How to choose a credit card: the steps and the card types.
- Best Visa cards: the same lists for the other network, with what Visa’s card levels add.
- Best cash back credit cards: the cash back ranking, with lists by category.
- Compare credit cards: the cards side by side in one table.
- CIBC Costco Mastercard review: the card Costco co-brands, in full.
- No-fee credit cards: no-fee cards across networks.
Sources
The figures and rules on this page come from these sources, last checked against them on October 26, 2026. How we check facts.
- BMO: Bmo cashback world elite mastercard
- BMO: BMO Ascend World Elite Mastercard: Experience Extra Rewards - BMO
- BMO: Apply for BMO Blue Rewards World Elite Mastercard – Premium Travel Benefits - BMO Canada
- BMO: Bmo viporter world elite mastercard
- BMO: BMO CashBack Mastercard: Up to 3% Cash Back – BMO Canada
- capitalone.ca: Quicksilver world mastercard
- capitalone.ca: Quicksilver world elite mastercard
- CIBC: Costco mastercard
- CIBC: Adapta mastercard
- customerservice.costco.ca: What methods of payment does costco canada accept
- desjardins.com: Credit cards
- mbna.ca: Mbna rewards world elite mastercard
- mbna.ca: Amazon rewards mastercard
- mbna.ca: Mbna rewards mastercard
- National Bank: World elite
- neofinancial.com: Neo world elite mastercard
- RBC: Rbc preferred world elite mastercard
- RBC: WestJet RBC World Elite Mastercard Travel Credit Card | RBC Royal Bank of Canada
- RBC: Rbc cashback mastercard
- rogersbank.com: Rogers red mastercard details
- rogersbank.com: Rogers red world mastercard details
- rogersbank.com: Rogers red worldelite mastercard details
- rogersbank.com: www.rogersbank.com
- Tangerine: Tangerine Money-Back Credit Card
- Tangerine: World credit card