Survey: Canada's most popular credit cards and how Canadians use them
Fact checked by Bronwyn Petry
Updated May 28, 2025
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We surveyed more than 2,000 Canadians about the credit cards they carry*. Here are the most popular credit cards in Canada.
Surprisingly, the top two choices were not from any of the country’s Big Five banks and differed greatly from Money.ca's heavily researched best credit cards in Canada page. Here’s a look at the top 10 most popular credit cards, according to our survey.
Top 10 most popular credit cards in Canada
Here are the most popular credit cards in Canada based on the by percentage of respondents who indicated they are cardholders.
Original data presented by Money.ca was gathered through a survey administered by Pollfish to a panel of respondents who have agreed to take part in surveys. The total sample size was 2,000 Canadian adults. Fieldwork was undertaken between 1st August - 6th August 2024. The survey was carried out online.
*Our survey allowed respondents to select multiple options, reflecting the diverse preferences of credit card users. As a result, percentages may sum to more than 100%.
What does this tell us?
- For many Canadians, rewards play a key role in credit card decisions. Six of the top 10 credit cards — such as the PC® Mastercard® and Canadian Tire Triangle Mastercard— are store-branded, reflecting a strong preference for rewards tied to everyday spending on groceries and retail.
- Only two of the top 10 cards — the RBC Avion Visa Infinite and BMO AIR MILES® Mastercard®— focus on travel rewards.
- Similarly, just two — the BMO CashBack® Mastercard® and TD Cash Back Visa Card— prioritize cash back.
- The Amazon.ca Rewards Mastercard rounds out the list at number 10, underscoring the increasing role of online shopping in Canadians' spending habits.
- Notably, the top two cards — PC® Mastercard® and Canadian Tire Triangle Mastercard— are not issued by any of Canada’s Big Five banks.
Ranking the big banks on credit card popularity
Here’s how each of Canada’s Big Banks rank, based on the percentage of respondents who carry at least one of their credit cards. Let’s dive into how they stacked up.
Ranking of Canada’s Big Banks by credit card usage
| Bank | % of Respondents who are Cardholders |
|---|---|
|
43.25% |
|
32.45% |
|
27.95% |
|
26.45% |
|
22.05% |
|
14.60% |
|
7.20% |
Most popular cards from the big banks
Top 3 BMO credit cards
Card
% of Respondents who are Cardholders
13.30%
12.65%
Top 3 CIBC credit cards
Card
% of Respondents who are Cardholders
7.95%
4.80%
Top 3 RBC credit cards
Card
% of Respondents who are Cardholders
7.20%
6.60%
3.50%
Top 3 TD credit cards
Card
% of Respondents who are Cardholders
8.75%
4.20%
Top 3 Scotiabank credit cards
Card
% of Respondents who are Cardholders
Top 3 MBNA credit cards
Card
% of Respondents who are Cardholders
Top 3 National Bank credit cards
Card
% of Respondents who are Cardholders
National Bank Allure Mastercard
1.65%
Credit card preferences — Key takeaways
- 43.25% of respondents reported owning a BMO credit card — significantly more than the other big banks.
- The second and third most preferred choices, CIBC (32.45%) and RBC (27.95%) follow BMO, with niche cards like the CIBC Costco® Mastercard® and RBC Avion Visa Infinite helping them remain competitive despite a smaller overall market share.
- Despite being one of the largest banks in Canada, TD ranks fourth, with only 26.45% of respondents owning one of their cards.
- Scotiabank has the lowest rank among the big five (22.05%), but the Scene+ Visa Card stands out as their most successful offering, leveraging its entertainment rewards focus.
- National Bank (7.20%) and MBNA (14.60%) trail significantly, suggesting their reach is limited outside specific regions or demographics. National Bank’s World Elite Mastercard and MBNA’s Amazon.ca Rewards Mastercard highlight niche successes but lack broad appeal.
Most popular credit cards by respondents' income level
Here are the top five most popular cards by income level:
Top 5 cards among people with a household income of $49,999 or less
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among people with a household income of $50,000 to $99,999
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among people with a household income of $100,000 to $149,999
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among people with a household income of $150,000 to $200,000 +
Provider
Card
% of Respondents who are Cardholders
What income levels reveal about credit card preferences — Key takeaways
- The Canadian Tire Triangle Mastercard and PC® Mastercard® are top choices across all income levels, underscoring their broad appeal. Their popularity is driven by practical rewards on groceries and discounts on retail.
- Among lower-income households ($49,999 or less), the Walmart Rewards Mastercard is also a top pick, reflecting a strong focus on everyday savings.
- Higher-income households ($150,000+) are more likely to choose premium cards like the CIBC Costco Mastercard, but the PC® Mastercard® still ranks first—demonstrating the lasting value of grocery-focused rewards.
Most popular credit cards by respondents' education level
Here are the top five cards by education level:
Top 5 cards among people with some high school or a high school diploma
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among people with some college or a college degree
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among people with some university or an undergrad degree
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among people with a master's or a Ph.D
Provider
Card
% of Respondents who are Cardholders
Credit card preferences by respondents' education level — Key takeaways
- The Canadian Tire Triangle Mastercard and PC® Mastercard® lead across all education levels, showing these cards’ broad demographic appeal.
- Individuals with university or graduate-level education show a higher preference for more robust cards, such as the BMO CashBack® Mastercard®. This reflects their financial ability to leverage rewards for both everyday and long-term benefits.
- As education level increases, so does card diversity. Those with advanced degrees spread their ownership across a broader range of cards, including store-branded and premium bank-issued options, indicating strategic use of rewards.
Most popular credit cards by generation
Here’s a look at the most popular credit card providers by generation:
Here are the top five cards among each generation:
Top 5 cards among Gen Z respondents
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among Millennial respondents
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among Gen X respondents
Provider
Card
% of Respondents who are Cardholders
Top 5 credit cards among Baby Boomer respondents
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among Silent Generation respondents
Provider
Card
% of Respondents who are Cardholders
Credit card preferences by generation — Key takeaways
- Gen Z and Millennials favour BMO and PC Financial, driven by cashback and retail rewards, indicating a focus on practical and immediate benefits.
- Gen X and Baby Boomers show stronger preference for Canadian Tire’s Triangle Mastercard, likely influenced by its utility for home and automotive purchases.
- Gen X, Baby Boomers and Silent generations all had a high usage of the CIBC Costco® Mastercard®, which didn’t crack the top five for Gen Z or Millennials.
- Gen Z and Baby Boomers both had a high usage of the Walmart Rewards™ Mastercard®, illustrating the broad appeal of retail-specific rewards.
Top credit cards by respondents' homeownership status
Here’s a look at the top five cards among homeowners (apartment, single-family home, multi-family home, farm):
Top 5 cards among homeowners
Provider
Card
% of Respondents who are Cardholders
Top 5 cards among renters
Provider
Card
% of Respondents who are Cardholders
Credit card preferences by homeownership status — Key takeaways
- The PC® Mastercard® and Canadian Tire Triangle Mastercard are the most popular among homeowners, showing a preference for cards that reward daily household expenses.
- The Scotiabank Scene+ Visa Card is uniquely popular among renters, likely due to its entertainment-focused rewards.
- The CIBC Costco® Mastercard® ranks higher among homeowners, likely reflecting bulk shopping needs associated with homeownership.
Choosing the right credit card for your needs
Still unsure which credit card is right for you? We’ve got you covered.
Money.ca’s Canadian credit card comparison tool helps you sort through more than 140 options using filters, over 200 hours of research, and more than 100 data points to find the best fit for your needs.
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