Best Rewards Credit Card for AirMiles

BMO Air Miles World Elite Mastercard*

BMO Air Miles World Elite MastercardThe BMO Air Miles World Elite Mastercard is a must-carry for avid Air Miles collectors. Every purchase you make on your card earns 1 Air Mile per $1 spent, and you can get double the points on purchases at Air Miles partner stores. New members will be tempted by the hefty bonus. They receive 2,000 Air Miles when they spend $3,000 in the first three months, plus the annual fee is waived for the first year. Additional travel benefits on this card include 15% off Air Miles flights in North America with no blackout periods and free membership to Mastercard Airport Experiences offered by LoungeKey. The card includes insurance that covers you for medical emergencies, travel cancellation/interruption and flight delay coverage, as well as coverage for car hire collision damage. These benefits are made even more attractive because you don’t have to put an entire trip on your card to take advantage of these benefits – some of the cost, including taxes and fees, may be enough.

Annual Fee: $120 (excluding the first year) Interest Rates: Purchases 20.99%, Cash Advances 23.99%, Balance Transfers 23.99% Welcome Offer: 2,000 Air Miles Earning Percentage: 1 Air Mile per $12 spent; triple the Air Miles for purchases from partners Annual income requirement: $80,000 or $150,000 per household Additional benefits: Travel insurance including medical emergencies, travel cancellation/interruption, and flight delay coverage; car rental insurance; 15% discount on North American Air Miles flights; free membership to Mastercard Airport Experiences offered by LoungeKey; other special offers and discounts

More information about the BMO Air Miles World Elite Mastercard*

Best Rewards Credit Card for Flexible Rewards

MBNA Rewards World Elite Mastercard*

If you want to use your rewards for different kinds of merchandise, gift cards, travel and other redemption items, you’re looking for a flexible rewards card. These types of rewards programs don’t limit you to one type of redemption or a single retailer or family of retailers. As with other reward cards, earning percentages will help determine the best of the best, along with valuable perks and benefits. Our choice for the flexible rewards category is the MBNA Rewards World Elite Mastercard. The MBNA rewards program is the definition of flexible. You can redeem MBNA points for merchandise, gift cards, travel, cash, and even charitable donations. Cash is the most flexible reward of all, right. When you use your MBNA Rewards World Elite Mastercard to make purchases, you have a base rate of 1 point per $1 spent and an accelerated rate of 5 points per $1 spent on groceries, restaurants, digital media, memberships, and household utilities. up to $50,000 per category per year. When you redeem for travel, that’s a 5% return. Cash redemptions come in at 4.15%, a rate that rivals most cash back credit cards. Valuable perks include 10% of the total annual point earned (up to a maximum of 15,000) in the form of Birthday Bonus Points. An impressive promotion for new members is to earn up to 30,000 MBNA points.

Annual Fee: $120 Interest Rates: Purchases 19.99%, Cash Advances 24.99%, Balance Transfers 22.99% Welcome Offer: Earn up to 30,000 points when you make $2,000 in purchases and sign up for paperless statements in the first three months. Earning Rate: 5 points per $1 spent on groceries, restaurants, digital media, memberships, and household utilities up to $50,000 per category per year; 1 point per $1 base rate Annual income requirement: $80,000 personal or $150,000 household Additional benefits: Travel and car rental insurance; MBNA payment plan; 10% points back in annual birthday bonus

Learn more about the MBNA World Elite Mastercard*

More about Canada’s best credit cards

Our methodology

For the best 2022 rewards credit card ranking, MoneySense took advantage of’s credit card tool and ran the numbers for cash back and travel credit cards, based on $2,000 in monthly spend. We made the following assumptions: $500 groceries, $200 gas, $200 restaurants and $125 bills, $175 travel, $225 entertainment, $75 pharmacy purchases, and all other $500 purchases.

The endgame was a magic number, that is, the annual net reward in dollars to identify the best cards in each category, plus an honorable mention. Our methodology also considered other factors, including welcome bonuses and accelerated earn rates, annual fee waivers, loyalty program flexibility, and travel insurance benefits.

This post Canada’s Best Rewards Credit Cards 2022

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