5 Credit Cards Every Canadian MUST HAVE!! - Best Credit Cards For Beginners Canada 2024

In this video, we go over the 5 best credit cards in Canada 2024, and discuss why they are each worth having, what they return, and what the sign up bonuses for each are. Collectively, we find out why these are must have credit cards for every Canadian.

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In this video, we go over 5 credit cards that every Canadian must have in their wallet, as these are the best credit cards in Canada in 2024, and each provide a high cashback rate on a specific category, which means that they all complement each other in order for you to get the highest amount of cashback from all your purchases.

The first card that we take a look at is the BMO Cashback Mastercard. This card offers an amazing 3% cashback rate on grocery store purchases, except for purchases made at Walmart. This means that anytime you shop for groceries at any non-Walmart location, you should use this card in order to get the highest cash back rate on your grocery purchases as possible. This card also has a fantastic sign up bonus of 5% cashback on grocery store purchases for the first 3 months of you owning the card.

The second card that we discuss is the Tangerine Money-Back Credit Card. This card offers you a lot of flexibility by allowing you to get 2% cashback on 2 categories of your choice between restaurant, groceries, parking, entertainment, drug stores, home improvement, recurring bills, hotels, furniture, or gas. I would recommend choosing groceries, as this is the only card in Canada that recognizes Walmart as a grocery store and offers a high cashback rate on purchases made at Walmart. My other recommendation would be the parking option, as this is the only card that offers a high return on this category. This card is a must have for every Canadian, specifically because of the flexibility that it gives you, so that you can cater the cashback to your own needs. Also this card offers the best sign up bonus among no fee credit cards, and that is 15% cashback for the first 3 months, or the first $1000 spent, whichever comes first.

Third, we have the Scotiabank Scene Visa Card. This card is a great one for those who frequently go to movie theaters, as with this card, you will get 5 Scene points on every dollar spent at a Cineplex movie theater. Each Scene point is equal to 1 cent when redeeming for free movies, so this is equivalent to receiving 5% cashback on any purchases made at the Cineplex cinemas. That said, you only get 1 Scene point per dollar on every other purchase, so I would suggest you only use this card at Cineplex locations, and no where else.

The next card is another must have, and that is the American Express Simply Cash Card. This card offers you 1.25% Cashback on every purchase. This means that regardless of what you buy and what category it falls under, you can always receive a minimum of 1.25% cashback on that purchase just by having this card. I would recommend getting this card, and using it for any purchase that isn't already covered by one of your other cards under a high cashback rate category. This card also has a great sign up bonus of 4% cashback on every purchase for 6 months, or the first $5000 spent, whichever comes first.

Last but not least we have the Simplii Financial Cashback Visa Card. This card offers an incredible 4% cashback rate on purchases made at restaurants & bars, but only 1% or lower on everything else. This means that this card is amazing for restaurants and bars, but not quite the best on everything else. I would recommend everyone to get this card, and only use it on dining out. Also for the first 3 months that you get this card, or for the first $500 spent (whichever comes first), you will receive a whopping 10% cashback at restaurants and bars as a sign up bonus.


0:00 Intro
1:24 BMO Cashback Mastercard
2:24 Tangerine Money-Back Mastercard
3:20 Scotiabank SCENE VISA Card
4:22 AMEX SimplyCash Card
5:15 Simplii Financial VISA Card
6:01 Recap