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Ranking Canada’s best bank loyalty programs – and No. 1 is in a league of its own

Globe and Mail - Business • 2026-07-07

AI summary

Canadian banks offer a variety of loyalty programs, with redemption options that can include travel, merchandise, statement credits, and even mortgage payments. These programs have become increasingly complex, with varying point values and redemption structures across institutions. Understanding these programs is crucial for consumers to maximize the value of their spending and rewards.

Original source

Credit card rewards

Credit cards to compare for loyalty and rewards

This story is about Canadian bank loyalty programs. These cards are practical examples to compare because they earn bank rewards, travel points, cash back, or loyalty-style value. Confirm current fees, rewards, eligibility, and offers with the issuer before applying.

Avion Rewards

RBC Avion Visa Infinite Card

RBC - Around $120/year

Flexible travel rewards and statement-credit style redemptions

Useful for readers comparing a major-bank points program with several redemption choices.

Compare rewards ->

TD Rewards

TD First Class Travel Visa Infinite Card

TD - Around $139/year

Travel bookings and everyday points inside TD's rewards ecosystem

A practical option to compare when bank loyalty and travel booking convenience matter.

Compare rewards ->

Aventura Rewards

CIBC Aventura Visa Infinite Card

CIBC - Around $139/year

Travel, gift card, merchandise, and statement-credit style choices

Relevant when the goal is a flexible bank rewards program rather than simple cash back.

Compare rewards ->

Scene+

Scotiabank Gold American Express Card

Scotiabank - Around $120/year

Groceries, dining, entertainment, and travel points

Good to compare for readers who already use or understand the Scene+ ecosystem.

Compare rewards ->

BMO Rewards

BMO Ascend World Elite Mastercard

BMO - Around $150/year

Travel-oriented rewards and premium card benefits

A bank-loyalty comparison point for people who want premium travel perks.

Compare rewards ->

Cash-back categories

Tangerine Money-Back Credit Card

Tangerine - $0 annual fee

Simple no-fee cash back instead of points

Not a traditional loyalty-points card, but useful for readers who prefer direct rewards.

Compare rewards ->

CanadianBankNews is not affiliated with these issuers. Card details are examples and may change.

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