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The Top 5 Credit Cards for Earning Points and Miles
Last updated on April 26, 2018

 

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For some points and miles aficionados it’s all about earning as many points and miles as possible. In reality that's the case for most of us but for some they really want to only focus on the earn. All they care about is how they are rewarded for their day to day spending on cards and all the other benefits like insurance, business class lounge access, price protection don’t really matter.

The question then that needs to be asked is "What are the credit cards to look at to strictly maximize the amount of points and miles you earn on your spending?" We have the answer to that!

Here are Rewards Canada’a top 5 picks for just that - earning points and miles - we don’t look at anything else that these cards offer and for some of them there are a lot of other benefits but who cares about that when all you are concerned about is earning the most bang for your buck!

Card Miles and Points earning capabilities

American Express Cobalt Card

5 points per dollar on eats and drinks, 2 points per dollar travel, transit and gas, 1 point per dollar on all else

Potential Return:
5% - 5 points per dollar translates to a 5% return when redeeming for Use Points for Purchases for Travel
6.25%+ - 5 points per dollar converted to Starpoints at a 2:1 ratio equals 2.5 Starpoints - 1 Starpoint is valued at a minimum of 2.5 cents (Valid until July 31, 18)

Best for:
Restaurants, Coffee shops, Bars, Grocery, other dining, Transit and Ride Sharing

20,000 Scotia Rewards bonus points with first purchase
Scotiabank®* Gold American Express® Card

Scotiabank Platinum American Express
Scotiabank®* Platinum American Express® Card

4 points per dollar on grocery, dining, gas, entertainment, 1 point per dollar on all else

Potential Return:
4% - 4 points per dollar translates to a 4% return when redeeming for travel.

Best for:
Gas and Entertainment purchases

Starwood Preferred Guest Credit Card
Starwood Preferred Guest Credit Card from American Express

1 Starpoint per dollar on all spending, 2 Starpoints per dollar on Marriott and Starwood Purchases until July 31, 18

Potential return:
2.5%+ - 1 Starpoint per dollar translates to a 2.5% return or higher when redeeming for free nights at Starwood and Marriott Hotels
5.0%+ - 2 Starpoints per dollar translates to a 2.5% return or higher when redeeming for free nights at Starwood and Marriott Hotels

Best for:
All purchases that other cards do not have a higher category earn rate


PLEASE NOTE THIS CARD WILL MOST LIKELY CHANGE IN AUGUST 2018 SO THESE EARN RATES SHOULD ONLY BE TAKEN INTO ACCOUNT UNTIL THE END OF JULY

American Express Gold Rewards Card
American Express Gold Rewards Card

2 points per dollar on gas, groceries, drug store and travel, 1 point per dollar on all else

Potential return:
2% - 2 points per dollar translates to a 2% return when redeeming for Use Points for Purchases Travel
3%+ - 2 points per dollar coverts to Aeroplan and British Airways Executive Club at a 1:1 ratio - Aeroplan Miles and British Airways Avios are valued at a minimum of 1.5 cents each

Best for:
Drug Store and Travel Purchases


mbna rewards World Elite Mastercard

2 points per dollar on all spending

Potential return:
2% - 2 points per dollar translates to a 2% return when redeeming for travel or cash back

Best for:
All purchases that other cards do not have a higher category earn rate or for merchants that don't accept Amex

The earn rates listed above are everyday earn rates. These are not limited time offers or introductory offers that you may see on some cards. They are the most rewarding cards on a long term, day to day basis. As you can see the ranking is Amex heavy and this is indicative of just how rewarding American Express cards are. They always have been leaders on the earn side, partially due to the fact they can charge merchants more on the interchange rate but it is also about being competitive.

This chart will be updated on an ongoing basis when cards come and go, cards change or any other circumstances that could modify this ranking. You are encouraged to bookmark it and come back often to see if you can earn even more points and miles!

Talk to us!

What do you think of this list? Did we miss a card that provides a better return than these five? Do you have a combination of these cards that you use to maximize you earn? Tell us in the comments section below or on Facebook and Twitter to join the conversation

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