Best credit cards for millennials
The best credit cards for millennials are well-suited to this generation's lifestyle, as well as offer rewards and bonuses that you'll actually use.
Let’s be real: financial advice for Boomers isn’t always helpful for finding the best credit card to fit a millennial's lifestyle. Money may be tight. You may still be a student, paying off student loans. You may not be earning the highest salary (yet). And even though you’re sticking to a budget, you may still want to travel and live it up a little — as long as your rent and groceries are paid first, of course.
With these considerations in mind, we set out to find the best Canadian credit cards for millennials and narrowed the list down to our top four best credit cards.
Best credit cards for millennials in Canada
| Credit card for millennials | Best for | Get started |
|---|---|---|
| Tangerine Money-Back Credit Card | Cash back rewards | Apply now |
| Scotiabank Gold American Express® Card | Travel rewards | Apply now |
| BMO eclipse Visa Infinite* Card | Lifestyle rewards | Apply now |
| Scotiabank® Scene+™ Visa* Card | Entertainment perks | Apply now |
Best credit card for millennials in the cash back category
Tangerine Money-Back Credit Card
4.0
Good
Suggested credit scoreto receive the latest news, tips and offers by email
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
Eligibility
Good
Recommended Credit Score
$12,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$12,000
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
2%
Get a Tangerine Savings account and add a 3rd 2% cash back category.
3
Earn 0.50% on all your other everyday purchases.
0.5%
19.95% - 24.95%
Variable APR
1.95%
Balance Transfer Rate 19.95%
19.95%
Cash Advance APR $3.50 within Canada, $5.00 outside Canada
$0
Annual Fee $0 for additional cardholders
2.5%
Foreign Transaction Fee
Variable APR
19.95% - 24.95%
Balance Transfer Rate
1.95%
Cash Advance APR
19.95%
Annual Fee
$0
Foreign Transaction Fee
2.5%
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
Eligibility
Good
Recommended Credit Score
$12,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$12,000
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
2%
Get a Tangerine Savings account and add a 3rd 2% cash back category.
3
Earn 0.50% on all your other everyday purchases.
0.5%
19.95% - 24.95%
Variable APR
1.95%
Balance Transfer Rate 19.95%
19.95%
Cash Advance APR $3.50 within Canada, $5.00 outside Canada
$0
Annual Fee $0 for additional cardholders
2.5%
Foreign Transaction Fee
Variable APR
19.95% - 24.95%
Balance Transfer Rate
1.95%
Cash Advance APR
19.95%
Annual Fee
$0
Foreign Transaction Fee
2.5%
Nothing is as flexible as cash in your hand. Until recently, cash-back credit cards weren’t offering the right mix of good reimbursement rates, eligible spend categories, and low (or no) annual fees. It seems that the Tangerine Money-Back Credit Card has finally hit the sweet spot with these perks. Earn 2% Money-Back Rewards on your purchases in up to 3 categories of your choice, and 0.5% Money-Back Rewards on all other purchases.
If that’s not enticing enough, there’s an awesome promotion right now. There’s some easy money to be made just by signing up and it won’t cost you a thing!
- Additional benefits: Automatic, monthly reimbursement to your credit card balance or savings account; unlimited cash back
- Welcome offer:
The fact is, you can use cash for anything you need and this flexibility along with decent reimbursement rates is why it tops this list. There are no restrictions or complicated rules to follow. It’s just money back in your pocket—and it doesn’t cost you a thing.
*Terms and conditions apply
Best credit card for millennials that love to travel
Scotiabank Gold American Express®
4.8
up to 45K pts
Welcome offerVery Good
Suggested credit scoreEarn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived.
Expires
Jan 3, 2025
Pros
-
Lots of daily spend options to earn multiplied point bonuses
-
Swanky Amex perks like Front of the Line presale concert tickets
-
Save on foreign transaction fees when abroad
-
Fantastic insurance coverage, especially for travel
Cons
-
Relatively low-value welcome bonus
-
$120 annual fee that chews into your point value substantially
-
Scene points redeem poorly for travel
Eligibility
Very Good
Recommended Credit Score
Recommended Credit Score
Very Good
6x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
5x
Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
6x
Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
5x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
3x
Scene+ point for every $1 spent on all other eligible everyday purchases
1x
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$120
Annual Fee $29 for each supplementary card
0%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$120
Foreign Transaction Fee
0%
Pros
-
Lots of daily spend options to earn multiplied point bonuses
-
Swanky Amex perks like Front of the Line presale concert tickets
-
Save on foreign transaction fees when abroad
-
Fantastic insurance coverage, especially for travel
Cons
-
Relatively low-value welcome bonus
-
$120 annual fee that chews into your point value substantially
-
Scene points redeem poorly for travel
Eligibility
Very Good
Recommended Credit Score
Recommended Credit Score
Very Good
6x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
5x
Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
6x
Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
5x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
3x
Scene+ point for every $1 spent on all other eligible everyday purchases
1x
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$120
Annual Fee $29 for each supplementary card
0%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$120
Foreign Transaction Fee
0%
The Scotiabank Gold American Express® Card has some serious points-earning potential that can be put towards your next trip. Earn 6x Scene+ points on every $1 CAD you spend in Canada on all eligible purchases¹ at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.
Earn 5X the Scene+ points for every $1 CAD spent on other eligible grocery stores, restaurants, fast food, and drinking establishments (including food delivery and food subscription services), as well as on eligible entertainment purchases (movies, theatre, and ticket agencies). Plus, you’ll get 3X the Scene+ points for every $1 CAD spent on eligible gas, daily transit, and eligible select streaming purchases.
The annual fee is a bit steep, which is a bit of a bummer. This card is a winner in our books, as it provides amazing benefits, such as no foreign transaction fees, comprehensive travel insurance, and Amex Front Of the Line® access. Plus, for a limited time, this card has an incredible welcome bonus for new cardholders.
What’s also exceptional about this credit card is the flexibility in rewards redemption. All you have to do is log in to the system and select the “Apply Points to Travel” option. Then just use your accumulated points to offset any travel costs (flights, rental cars, hotels, etc.) charged to your credit card. It’s that easy – no black-out periods or annoying restrictions. It’s no wonder the Scotiabank Gold American Express® Card is often ranked as the best travel credit card in Canada.
- Welcome bonus: Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived..
- Other perks: No foreign transaction fees, comprehensive travel insurance, Amex Front of the Line® access
Conditions Apply. Visit here for the Scotiabank Gold American Express® Card to learn more.
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Best credit card for a millennial's lifestyle and rewards
BMO eclipse Visa Infinite* Card
3.8
up to 60K pts
Welcome offerVery Good
Suggested credit scoreGet up to 60,000 points worth $400 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year - that's a $570 value in your first anniversary!*
Expires
Nov 30, 2024
Pros
-
Excellent welcome offer: Get up to 60,000 points and a $50 lifestyle credit
-
Good earn rate in top spending categories
-
First year annual fee waiver* (Value: $120)
-
Includes new mobile device insurance: Up to $1,000 in coverage**
-
Annual $50 lifestyle credit to spend however you like*
-
Includes comprehensive travel insurance
-
Access to exclusive Visa Infinite benefits
Cons
-
High minimum annual income: Minimum $60,000 (individual) or $100,000 (household)
-
Insurance doesn't include trip cancellation coverage
Eligibility
Very Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
5x
Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit.*
10%
Earn 10% more points when you add an authorized user to your account.*
$50
Get a $50 annual lifestyle credit to spend however you want*
Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit.*
5x
Earn 10% more points when you add an authorized user to your account.*
10%
Get a $50 annual lifestyle credit to spend however you want*
$50
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee Annual fee waived in the first year
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Pros
-
Excellent welcome offer: Get up to 60,000 points and a $50 lifestyle credit
-
Good earn rate in top spending categories
-
First year annual fee waiver* (Value: $120)
-
Includes new mobile device insurance: Up to $1,000 in coverage**
-
Annual $50 lifestyle credit to spend however you like*
-
Includes comprehensive travel insurance
-
Access to exclusive Visa Infinite benefits
Cons
-
High minimum annual income: Minimum $60,000 (individual) or $100,000 (household)
-
Insurance doesn't include trip cancellation coverage
Eligibility
Very Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
5x
Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit.*
10%
Earn 10% more points when you add an authorized user to your account.*
$50
Get a $50 annual lifestyle credit to spend however you want*
Earn 5x the points for every $1 spent on groceries, gas, dining in and out and transit.*
5x
Earn 10% more points when you add an authorized user to your account.*
10%
Get a $50 annual lifestyle credit to spend however you want*
$50
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee Annual fee waived in the first year
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
If you’re looking for a credit card that gets you valuable and flexible rewards that fit your urbanite lifestyle, consider the BMO eclipse Visa Infinite* Card. Earn 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000. Earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
BMO Rewards points are simple to redeem—just visit BmoRewards.com—and can be applied towards travel at a rate of 150 points per dollar. Alternatively, you can redeem your BMO Rewards for merchandise or gift cards, or use the Pay with Points program to apply your points to purchases made on your card. You can even deposit their value into a BMO investment account. That said, the value per point is lower than travel redemptions.
This is a good card for people who like to treat themselves.
With Visa Infinite* perks that gain you access to special dining and wine events, we bet you can find something to splash out on. You’ll also automatically receive perks at luxury hotels and have access to the Visa Infinite complimentary concierge. Take note of the included comprehensive travel insurance and the new mobile device coverage of up to $1,000*.
- Welcome offer: 50,000 points when you spend $6,000 in the first 3 months, plus 30,000 points when you spend at least $30,000 in the first 6 months. Receive an additional 40,000 points when you spend at least $75,000 in the first year.
- Other perks: Travel insurance*, new mobile device insurance*, annual $50 “lifestyle credit”*, Visa Infinite perks*
- *Terms and conditions apply.
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Best credit card for millennials who want entertainment perks
Scotiabank® Scene+™ Visa* Card
4.0
up to 7,500 pts
Welcome offerGood
Suggested credit scoreEarn up to 7,500 bonus Scene+ points within your first 3 months.
Expires
Mar 3, 2025
Pros
-
No annual fee
-
Generous rewards with 2X points at Cineplex and grocery stores
-
Low redemption thresholds for various rewards
-
7,500 bonus Scene+ points as a sign-up bonus
-
Points don't expire
-
Car rental savings up to 25%
Cons
-
Limited earning potential for high spenders
-
Limited travel-related benefits compared to travel cards
-
Focus on entertainment and dining rewards may not suit all users
-
Limited sign-up bonus compared to cards with annual fees
-
Car rental savings limited to specific locations
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
2x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland, participating Co-ops, Freshco and more
2x
Scene+ points¹ for every $1 you spend on Home Hardware, Home Building Center, Home Furniture locations in Canada and online at homehardware.ca
2x
Scene+ points¹ for every $1 you spend at Cineplex theatres or online at cineplex.com
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
25%
Save up to 25% off base rates at participating Avis locations and participating Budget locations in North America.
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland, participating Co-ops, Freshco and more
2x
Scene+ points¹ for every $1 you spend on Home Hardware, Home Building Center, Home Furniture locations in Canada and online at homehardware.ca
2x
Scene+ points¹ for every $1 you spend at Cineplex theatres or online at cineplex.com
2x
Scene+ point for every $1 spent on all other eligible everyday purchases
1x
Save up to 25% off base rates at participating Avis locations and participating Budget locations in North America.
25%
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$0
Annual Fee $0 for each additional card
2.5%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Foreign Transaction Fee
2.5%
Pros
-
No annual fee
-
Generous rewards with 2X points at Cineplex and grocery stores
-
Low redemption thresholds for various rewards
-
7,500 bonus Scene+ points as a sign-up bonus
-
Points don't expire
-
Car rental savings up to 25%
Cons
-
Limited earning potential for high spenders
-
Limited travel-related benefits compared to travel cards
-
Focus on entertainment and dining rewards may not suit all users
-
Limited sign-up bonus compared to cards with annual fees
-
Car rental savings limited to specific locations
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
2x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland, participating Co-ops, Freshco and more
2x
Scene+ points¹ for every $1 you spend on Home Hardware, Home Building Center, Home Furniture locations in Canada and online at homehardware.ca
2x
Scene+ points¹ for every $1 you spend at Cineplex theatres or online at cineplex.com
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
25%
Save up to 25% off base rates at participating Avis locations and participating Budget locations in North America.
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland, participating Co-ops, Freshco and more
2x
Scene+ points¹ for every $1 you spend on Home Hardware, Home Building Center, Home Furniture locations in Canada and online at homehardware.ca
2x
Scene+ points¹ for every $1 you spend at Cineplex theatres or online at cineplex.com
2x
Scene+ point for every $1 spent on all other eligible everyday purchases
1x
Save up to 25% off base rates at participating Avis locations and participating Budget locations in North America.
25%
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$0
Annual Fee $0 for each additional card
2.5%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Foreign Transaction Fee
2.5%
There are a lot of credit cards aimed at students, but what they all typically offer is a quick way to get into debt. Even if you’re at the beginning of your credit history, it’s possible to make your spending work for you—and that’s what the Scotiabank® Scene+™ Visa* Card excels at the most.
A high earn rate and redemption ease make this a really attractive option for those who enjoy movies, shopping, and restaurants.
Earn 2x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland, participating Co-ops, Freshco and more. Earn 2x Scene+ points¹ for every $1 you spend on Home Hardware, Home Building Center, Home Furniture locations in Canada and online at homehardware.ca. Get 1x Scene+ point for every $1 spent on all other eligible everyday purchases.
The redemption rate is super-low (starting at 1,000 points), which means you can basically use this card for everyday purchases and skim the points for things that make you happy—like movies and meals. Best yet? The points never expire.
- Welcome bonus: Earn up to 7,500 bonus Scene+ points within your first 3 months.
- Conditions apply. Visit here for the Scotiabank® Scene+™ Visa* Card to learn more. *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
The bottom line
Despite what the media might have you believe, millennials aren’t a monolith. There’s a wide age spread included in this group, from folks just applying to university to those learning how to save money for retirement. Some of you may be saving to travel the world, while others might be buying your first home. Whatever your millennial money goals are, it’s much easier to achieve them when you’ve got the right plastic in your wallet.
Millennial credit cards FAQ
Keph Senett is a Canadian freelance writer whose areas of expertise include personal finance, travel and sports. When not writing, she spends her free time trying to figure out how to qualify for a soccer squad in Asia, Australia, or Antarctica.
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
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