12 Best Visa Credit Cards in Canada for 2024 - NerdWallet Canada (2024)

Visa credit cards are one of the commonly used and widely accepted both in Canada and outside the country. Visa cards make up a significant portion of the over 76 million cards currently used by Canadians . Visa credit card offerings include cards for consumers, small businesses and commercial enterprises to ensure there’s a “best” Visa card for everybody. All you have to do is consider your spending, credit limit and rewards preferences to decide which Visa card fits the bill for you.

Visa credit card overview

Visa is one of three major credit card networks in Canada. A Visa credit card allows you to pay retailers who accept Visa anywhere in the world, making it a convenient option.

The Visa financial service corporation serving a global network across 200+ countries is not the direct issuer of Visa cards. It relies on financial institutions such as banks, credit unions and caisses populaires to get them into the hands of users.

So, how do you know if a Visa is the best choice for you? You can start by reviewing some aspects of Visa card ownership:

Benefits of Visa credit cards

Drawbacks of Visa credit cards

To find the right Visa credit card for your needs, understand how the type of card, tiers and rewards affect the overall value of the card which can help narrow down your options.

Types of Visa cards

Visa credit cards can be grouped into categories based on the type of rewards they offer, such as travel points and cash back. Each Visa card serves a specific purpose, including:

Visa business credit card

Visa business cards are aimed at people who have a small business, are self-employed, or are freelancers. With a Visa business card, you can separate your business transactions from your personal ones, making it easier to track business expenses and help during tax time.

If your business has employees, you can typically get multiple Visa cards for them, consolidating spending while separating each user’s transactions. Visa business credit cards also may offer rewards like travel points or cash back.

Visa debit card

A Visa debit card is used to make in-store and online purchases or access your account through an ATM.

Regardless of the network it’s on, the key difference between a debit card and a credit card is that a debit card uses available funds from your account to make the payment, instead of borrowing credit.

Prepaid Visa cards

A prepaid Visa card is a reloadable card that allows you to make purchases using the Visa network. Unlike Visa debit cards, which are attached to your bank account, a prepaid Visa is a standalone product you can load money in before using.

Visa gift card

A Visa gift card comes preloaded with funds and can be used anywhere Visa is accepted. These cards are popular for gifts since the recipient can use the card to buy whatever they’d like.

Crypto Visa card

Crypto Visa cards are basically prepaid Visas that let you earn crypto rewards based on your spending. Several crypto Visa cards are offered through cryptocurrency exchanges such as Crypto.com and Shakepay.

Virtual Visa card

A virtual Visa card is essentially a disposable credit card number — a unique number you can use to shop online or over the phone instead of providing your actual credit card number. A virtual credit card is still attached to your main credit account, but it adds a layer of security in case the retailer has a data breach.

Some people also use the term “virtual Visa card” to refer to a Visa stored in a digital or virtual wallet, such as Apple Pay or Google Wallet. Essentially, digital wallets let you pay for purchases on your credit card using your phone instead of the physical card.

Visa credit card tiers

Visa offers its credit cards in a number of tiers or levels. Generally speaking, the higher the tier, the more benefits the card offers. Higher-tier cards usually have a significant annual fee and require more individual or household income. If you’re considering a Visa credit card, it’s a good idea to compare the different tiers to find the best fit for you.

Visa Classic

Think of the Visa Classic tier as an entry-level credit card. It gives you access to the Visa network but has limited benefits. A Visa Classic credit card typically has low individual and household income requirements, making it ideal for students, young adults, newcomers to Canada and those looking to establish a credit history.

Visa Gold

Visa Gold cards are a step up from a Classic card. Depending on the card, they offer benefits such as enhanced insurance, purchase protection and extended warranties. Some Visa Gold card issuers may not have a personal income requirement; those that do may require up to $15,000. The annual fee for Visa Gold credit cards can be $100+.

Visa Platinum

Visa Platinum cards are very similar to Gold cards in terms of their benefits and credit limit. As far as annual fees go, Visa Platinum cards typically range from $0 to $100+. However, a lower fee typically means fewer benefits, so be sure to compare your options closely.

Visa Infinite

Once you get to the Visa Infinite series, you get premium perks. Hotel benefits include room upgrades, free breakfast and late checkout. Dining and entertainment perks offer access to exclusive culinary experiences and special events, plus a 24/7 concierge service.

These perks are in addition to any you may get from your credit card provider, which may include enhanced travel insurance, free checked bags and mobile device insurance. However, to qualify for a Visa Infinite card, you’ll need to earn $60,000 in personal annual income or $100,000 in household income.

Visa Infinite Privilege

Visa Infinite Privilege cards offer the perks of Visa Infinite cards, plus six annual complimentary passes for airport lounge access.

The credit card provider also may include extra benefits, such as unlimited priority boarding on flights or airport lounge access with credit cards. To be eligible for Visa Infinite Privilege cards, you’ll typically need an annual personal income of $150,000 or a household income of $200,000.

Visa Infinite vs. Infinite Privilege

Visa Infinite and Visa Infinite Privilege tiers both offer envious luxurious perks and benefits compared to the lower-tier cards. What puts Infinite Privilege in the lead is the added travel-specific conveniences.

VISA INFINITE BENEFITS

Visa Infinite credit cards offer perks that most globetrotters and business executives would enjoy, including:

VISA INFINITE PRIVILEGE BENEFITS

Choosing a Visa Infinite Privilege card will get you all the Visa Infinite benefits, plus additional perks and elevated benefits like:

Bank Visa credit cards

Financial institutions that offer Visa credit cards include:

Scotiabank Visa cards: If you’re looking for a cash-back card, the is our top pick for newcomers to Canada offering great cash back on groceries and recurring payments. You can also find more reward categories within Scotiabank credit card selections.

RBC Visa credit cards: For students and gamers seeking higher rewards on credit card spending while paying a low annual fee, RBC ION+ Visa Credit Card can be an ideal choice. Although, there are other RBC Visa credit card options available.

TD Visa credit cards: TD® Aeroplan® Visa Infinite* Card offers attractive travel perks and comprehensive benefits for those who love travelling. Others may find day-to-day perks and cash-back rewards on other TD Visa credit card offerings more appealing.

CIBC Visa credit cards: One of our top picks for Aeroplan rewards for business is the CIBC Aeroplan Visa Business Plus Card. However, personal users are likely to find similar benefits with CIBC Visa credit cards.

BMO Visa cards: If you’re looking for BMO Visa cards with the best rewards for everyday spending, our top pick among other BMO Visa cards is the BMO eclipse Visa Infinite* Card.

How to get the most out of your Visa card

Regardless of the type of Visa credit card you choose, there are some common features that can add more value to the overall experience. It’s a good idea to spend some time familiarizing yourself with what your Visa offers, so you can make the most of its features and services.

Visa credit card customer service

Visa’s global customer service can be accessed 24/7.If you lose your Visa card, or it is stolen, you’ll need to get in touch with a customer representative right away so they can lock your card and send you a replacement immediately. Alternatively, you may be able to lock your account instantly via your mobile app.

Visa protection and security features

All Visa credit cards have built-in security features that help protect you from fraud. In addition, some Visa cards offer additional insurance for your purchases that can give you peace of mind.

Visa installment payments

Many financial institutions allow you to pay your Visa card bill in installments, or multiple payments. Interest charges and fees may apply. If you’re interested, check with the bank to make sure they offer it before applying for a card. Some of the Visa installment payment programs offered by Canadian banks include:

Visa Click to Pay

Visa Click to Pay allows cardholders to make online purchases without having to enter their payment information every time.

To use Visa Click to Pay, set up an account online and then choose “remember me” and “trust this device” on your computer or smartphone. When you shop online, you’ll see a Visa Click to Pay icon on participating merchants’ websites. Click the icon, and your purchase will go through immediately.

How to apply for a Visa credit card

Each financial institution offers different Visa tiers and types of cards, and each provider and card has different requirements. For the most part, you’ll need to meet the eligibility criteria, send in your application for approval, and wait for the approval.

Eligibility

To qualify for a Visa card, you must:

Note, Visa credit card issuers in Canada typically do not include expected credit scores on their websites. This makes it difficult to predict the outcome of the credit card application process. However, we know that having a higher score boosts the chances, no matter what card you’re applying for.

For more clarity on the topic, you can review our articles on credit scores needed to get a credit card and how to check your credit score and build your credit history.

Application for a Visa credit card

Once you’ve chosen the card, follow these steps to apply:

When the card arrives, activate it online or by calling the number on the card.

How to activate a Visa credit card

Once you receive your Visa card, you’ll need to activate it before you start using it. Different card issuers may have slightly different ways of going about it. Although, typically you should be able to activate a Visa credit card:

When you receive your new card in the mail, it will be enclosed in a letter with step-by-step instructions on the activation process.

Visa credit card alternatives

If you’re looking for specific rewards, benefits or offers that you’re not able to find in a Visa credit card, you may want to check cards from other payment networks.

Mastercard credit cards

Mastercard is another major credit card network. Mastercard credit cards come with a slew of unique offerings through the standard, World and World Elite programs for individuals and businesses worldwide.

American Express credit cards

American Express cards offer numerous rewards options, including cash back, Aeroplan points, Marriot Bonvoy Points, American Express Membership Rewards points and more. Amex personal and business cards both provide generous perks and benefits.

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