The Best Credit Card for Gift Cards in Canada
Canadians love gift cards. The Canadian gift card industry is expected to exceed
seven billion dollars in 2022. To determine the best credit card for gift cards
you need to see how quickly points accumulate with the spending of each card and also
how efficiently those points translate into gift card dollars.
The Overall Best Credit Card in Canada for Gift Cards
The results of running the same 177,147 spending scenarios through WhatBank’s
credit card finder that were used to determine the best cash back card in Canada
show that the Scotiabank Gold American Express Card is the best card to get if you
love gift cards. The average value of the exact same spending scenarios is 14%
more than the next best card, the American Express Cobalt Card.
The Best Non-AMEX Credit Card in Canada for Gift Cards
Crunching through those same 177,147 spending scenarios reveals that the TD First
Class Travel Visa Infinite card is the best non-AMEX credit card in Canada if
you want gift cards. The average value of the exact same spending scenarios is 42%
more than the next best card, the BMO eclipse Visa Infinite card.
These choices are based on running thousands of spending scenarios and seeing what card comes out on top most often. However, the best way to know what card is best for your unique spending you need to try WhatBank’s Credit Card Finder.
All of this information assumes that you pay off your credit card balance in full
And a reminder, unlike most every other credit card site, WhatBank is completely unbiased because it doesn’t accept referral fees from the credit card companies.