Gold Credit Card Review for Canadian Customers
- Introduction to Credit Cards
- Credit Card Interest Rates Charges
- Credit Card Positive Benefits
- Credit Card Negative Results
- Credit Cards In Canada
- How to Select a Credit Card
- How to Select a Gold Credit Card
- How to Select a Platinum Credit Card
How to Select Gold Credit Cards in Canada
*** NOTE: Before deciding to apply for a gold credit card, make certain that you can make the payments necessary to keep the new gold card at a zero balance each month. We strongly urge you to only apply for a gold card if you are looking for the convenience of owning one. If you are like many Canadians, relying on credit cards to fund a lifestyle beyond their means we ask that you be responsible and hold off on applying for a gold credit card until your financial situation turns around!
Selecting a gold credit card can be difficult
Selecting a gold credit card company in Canada has never been more difficult. When selecting the gold credit card company you would like to deal with, you really have to be cognisant of the various options, interest rates and benefits each credit card issuer has to offer.
Some gold credit cards offer extended credit period terms while others offer better interest rates. Before applying for a gold credit card, make sure that you need the features / benefits offered, the interest rate is reasonable and ensure that you know about all the hidden or extra fees associated with the card on a monthly and yearly basis.
If you do your homework on which credit card best suits your needs now, you will avoid nasty surprises when you review your statements.
Canadian Gold Credit Card Selection Sheet
The information contained in this table is updated periodically by FCAC. Financial institutions can change the costs as well as the terms and conditions of their products at any time. Contact the financial institutions directly if you wish to obtain the latest information on their products.
| Issuer / Name of Card |
Minimum Personal Income Required ($) |
Minimum Credit Limit ($) |
Annual Interest Rate | Grace Period on New Purchases1 | Minimum Payment ($ or % of outstanding balance) |
Annual Fees | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Purchases (%)2 |
Cash Advances (%)3 |
Balance Transfers (%)3 |
Number of Days | Method | First Card ($) |
Extra Cards ($) |
||||
|
BMO Bank of Montreal
Gold AIR MILES MasterCard with Low Rate Option |
Not specified | 500 | 11.90 | 11.90 | 11.90 | 21 | 2 | 2% | 134 (additional options extra) | 15 |
|
Capital One Bank
Guaranteed Low Rate MasterCard4 |
Not specified | 300 | 14.90 | 19.80 | 14.90 | 25 | 2 | $10 or 3%, whichever is greater | 79 | Free |
|
Citizens Bank of Canada
Shared Interest Gold My VISA Reward Plus with Low Interest Rate Option |
35,000 | 5,000 | 11.25 | 11.25 | 11.25 | 21 | 2 | $50 or 3%, whichever is greater | 145 | Free |
|
Citizens Bank of Canada
Shared Interest Gold VISA with Low Interest Rate Option |
35,000 | 5,000 | 11.25 | 11.25 | 11.25 | 21 | 2 | $50 or 3%, whichever is greater | 45 | Free |
|
Coast Capital Savings
Coast VISA Desjardins Modulo Gold |
35,000 | 5,000 | 9.90 | 9.90 | 4.90 for the first 5 statements; 9.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 50 | 10 |
|
Coast Capital Savings
Low Interest Rate Coast VISA Desjardins Elegance Gold |
35,000 | 5,000 | 12.80 | 12.80 | 4.90 for the first 5 statements; 12.80 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 30 | Free |
|
Coast Capital Savings
Low Interest Rate Coast VISA Desjardins Odyssey Gold |
35,000 | 5,000 | 11.80 | 11.80 | 4.90 for the first 5 statements; 11.80 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 140 (120 for 76 yrs. and over) | 30 |
|
Desjardins
Low Interest Rate VISA Desjardins Elegance Gold |
35,000 per household | 5,000 | 12.80 | 12.80 | 4.90 for the first 5 statements; 12.80 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 30 | Free |
|
Desjardins
Low Interest Rate VISA Desjardins Elegance Gold with 1% Bonusdollars |
35,000 per household | 5,000 | 12.80 | 12.80 | 4.90 for the first 5 statements; 12.80 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 60 | Free |
|
Desjardins
Low Interest Rate VISA Desjardins Odyssey Gold |
35,000 per household | 5,000 | 11.80 | 11.80 | 4.90 for the first 5 statements; 11.8 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 140 (120 for 76 yrs. and over) | 30 |
|
Desjardins
VISA Desjardins Modulo Gold |
35,000 per household | 5,000 | 9.90 | 9.90 | 4.90 for the first 5 statements; 9.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 50 | 10 |
|
HSBC Bank Canada
Low Rate HSBC Gold MasterCard5 |
Not specified | 500 | 12.90 | 12.90 | 12.90 | 23 | 1 | $10 or 3%, whichever is greater | 85 (options extra) | Free |
|
HSBC Bank Canada
Low Rate HSBC Gold MasterCard (with rewards)5 |
Not specified | 500 | 12.90 | 12.90 | 12.90 | 23 | 1 | $10 or 3%, whichever is greater | 120 (options extra) | 35 |
|
National Bank
Reduced rate OVATION Gold MasterCard |
Not specified | 1,000 | 14.50 | 11.50 | 11.50 | 21 | 1 | $10 or 3%, whichever is greater | 105 | 30 |
|
Vancity Credit Union
EnviroGold VISA Low Interest Rate Option |
35,000 | 5,000 | 11.25 | 11.25 | 11.25 | 21 | 2 | $50 or 3%, whichever is greater | 45 | Free |
|
Vancity Credit Union
EnviroGold VISA My VISA Rewards Plus with Low Interest Rate Option |
35,000 | 5,000 | 11.25 | 11.25 | 11.25 | 21 | 2 | $50 or 3%, whichever is greater | 145 | Free |
|
Westminster Savings Credit Union
Low Interest Rate VISA Desjardins Elegance Gold |
35,000 per household | 5,000 | 12.80 | 12.80 | 4.90 for the first 5 statements; 12.80 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 30 | Free |
|
Westminster Savings Credit Union
Low Interest Rate VISA Desjardins Odyssey Gold |
35,000 per household | 5,000 | 11.80 | 11.80 | 4.90 for the first 5 statements; 11.80 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 140 (120 for 76 yrs. and over) | 30 |
|
Westminster Savings Credit Union
VISA Desjardins Modulo Gold |
35,000 per household | 5,000 | 9.90 | 9.90 | 4.90 for the first 5 statements; 9.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 50 | 10 |
| Issuer / Name of Card |
Minimum Personal Income Required ($) |
Minimum Credit Limit ($) |
Annual Interest Rate | Grace Period on New Purchases1 | Minimum Payment ($ or % of outstanding balance) |
Annual Fees | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Purchases (%)2 |
Cash Advances (%)3 |
Balance Transfers (%)3 |
Number of Days | Method | First Card ($) |
Extra Cards ($) |
||||
|
ATB Financial Gold Cash Rewards MasterCard |
Not specified | 500 | 18.90 | 18.90 | 18.90 | 21 | 1 | $10 or 3%, whichever is greater | 69 | 25 |
|
ATB Financial Gold My Rewards MasterCard |
Not specified | 500 | 18.90 | 18.90 | 18.90 | 21 | 1 | $10 or 3%, whichever is greater | 89 | 25 |
|
BMO Bank of Montreal Gold AIR MILES MasterCard |
Not specified | 500 | 19.50 | 19.50 | 19.50 | 21 | 2 | 2% |
99 (additional options extra) |
15 |
|
Capital One Bank Guaranteed Cash Back MasterCard for Gas and Groceries |
Not specified | 300 | 19.80 | 19.80 | 19.80 | 25 | 2 | $10 or 3%, whichever is greater | 79 | Free |
|
Capital One Bank Guaranteed MasterCard |
Not specified | 300 | 19.80 | 19.80 | 19.80 | 25 | 2 | $10 or 3%, whichever is greater | 59 | Free |
|
Capital One Bank Guaranteed MasterCard for Newcomers |
Not specified | 300 | 19.80 | 19.80 | 19.80 | 25 | 2 | $10 or 3%, whichever is greater | Free | Free |
|
CIBC Aerogold VISA Card |
35,000 (15,000 for retired person) | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 26 | $10 or 2.1%, whichever is greater | 120 | 50 |
|
CIBC Aventura Gold VISA Card |
35,000 (15,000 for retired person) | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 26 | $10 or 2.1%, whichever is greater | 120 | 50 |
|
CIBC Gold VISA Card |
35,000 (15,000 for retired person) | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 26 | $10 or 2.1%, whichever is greater | 99 (69 for 65 yrs. and over) | 30 |
|
Citibank Canada Citi Gold MasterCard |
15,000 per household | 750 | 19.90 | 19.90 | 5.90 for 6 months | 19 to 25 | 2 | $20 or 2.1%, whichever is greater | Free | Free |
|
Citizens Bank of Canada Shared Interest Gold My VISA Rewards Plus Option |
35,000 | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 2 | $50 or 3%, whichever is greater | 99 | Free |
|
Coast Capital Savings Coast VISA Desjardins Elegance Gold |
35,000 | 5,000 | 19.90 | 19.90 | 4.90 for the first 5 statements; 19.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | Free | Free |
|
Coast Capital Savings Coast VISA Desjardins Modulo Gold |
35,000 | 5,000 | 9.90 | 9.90 | 4.90 for the first 5 statements; 9.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 50 | 10 |
|
Coast Capital Savings Coast VISA Desjardins Odyssey Gold |
35,000 | 5,000 | 19.40 | 19.40 | 4.90 for the first 5 statements; 19.40 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 110 (90 for 76 yrs. and over) | 30 |
|
CUETS Financial Gold CHOICE REWARDS MasterCard |
Not specified | 5,000 | 19.497 | 19.49 | 19.49 | 21 | 2 | $10 or 3%, whichever is greater | 120 | Free |
|
CUETS Financial Gold MasterCard |
Not specified | 5,000 | 19.497 | 19.49 | 19.49 | 21 | 2 | $10 or 3%, whichever is greater | 96 | 36 |
|
CUETS Financial Low Fee Gold CHOICE REWARDS MasterCard |
Not specified | 2,500 | 19.497 | 19.49 | 19.49 | 21 | 2 | $10 or 3%, whichever is greater | 59 | Free |
|
CUETS Financial Low Fee Gold MasterCard |
Not specified | 2,500 | 19.497 | 19.49 | 19.49 | 21 | 2 | $10 or 3%, whichever is greater | 35 | 12 |
|
Desjardins VISA Desjardins Elegance Gold |
35,000 per household | 5,000 | 19.90 | 19.90 | 4.90 for the first 5 statements; 19.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | Free | Free |
|
Desjardins VISA Desjardins Elegance Gold with 1% Bonusdollars |
35,000 per household | 5,000 | 19.90 | 19.90 | 4.90 for the first 5 statements; 19.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 30 | Free |
|
Desjardins VISA Desjardins Modulo Gold |
35,000 per household | 5,000 | 9.90 | 9.90 | 4.90 for the first 5 statements; 9.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 50 | 10 |
|
Desjardins VISA Desjardins Odyssey Gold |
35,000 per household | 5,000 | 19.40 | 19.40 | 4.90 for the first 5 statements; 19.40 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 110 (90 for 76 yrs. and over) | 30 |
|
HSBC Bank Canada HSBC Gold MasterCard |
Not specified | 500 | 19.90 | 19.90 | 19.90 | 21 | 1 | $10 or 3%, whichever is greater | 60 (options extra) | Free |
|
HSBC Bank Canada HSBC Gold MasterCard (with rewards) |
Not specified | 500 | 19.90 | 19.90 | 19.90 | 21 | 1 | $10 or 3%, whichever is greater | 95 (options extra) | 35 |
|
JPMorgan Chase Bank NA Chase MasterCard |
Not specified | 500 | 18.99 | 18.99 | 1.99 or 4.99 | 21 | 2 | $10 or 3%, whichever is greater, plus any past due amount | Free | Free |
|
Laurentian Bank VISA Gold Passport |
35,000 | 5,000 | 19.49 | 19.49 | 19.49 | 21 | 1 | $50 or 3%, whichever is greater | 90 | 25 |
|
MBNA Canada Bank Gold MasterCard |
Not specified | 2,500 | 17.99 | 19.99 |
3.90 for 4 months; 19.99 thereafter |
21 | 2 | $10 + fees + interest or 2.25%, whichever is less | Free | Free |
|
National Bank8 OVATION Gold MasterCard |
Not specified | 1,000 | 19.50 | 19.50 | 19.50 | 21 | 1 | $10 or 3%, whichever is greater | 90 | 30 |
|
RBC Royal Bank RBC Rewards VISA Gold |
35,000 | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 2 | $10 + fees + interest or outstanding balance, whichever is less | Free | Free |
|
RBC Royal Bank VISA Gold Preferred |
35,000 | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 2 | $10 + fees + interest or outstanding balance, whichever is less | 110 (70 for 65 yrs. and over) | 40 |
|
Scotiabank No-Fee ScotiaGold VISA Card |
Not specified | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 2 | 2% | Free | Free |
|
Scotiabank ScotiaGold Passport VISA Card |
Not specified | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 2 | 2% | 110 (65 for 65 yrs. and over) | 30 (15 for 65 yrs. and over) |
|
TD Canada Trust TD Gold Elite VISA |
35,000 | 5,000 | 19.75 | 19.75 | 19.75 | 21 | 2 | $10 plus interest and fees | 99 | 39 |
|
TD Canada Trust TD Gold Select VISA |
35,000 | 5,000 | 19.75 | 19.75 | 19.75 | 21 | 2 | $10 plus interest and fees | Free | Free |
|
Vancity Credit Union EnviroExpenseGold My VISA Rewards Plus |
35,000 | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 2 | $50 or 3%, whichever is greater | 99 | Free |
|
Vancity Credit Union EnviroGold VISA My VISA Rewards Plus |
35,000 | 5,000 | 19.50 | 19.50 | 19.50 | 21 | 2 | $50 or 3%, whichever is greater | 99 | Free |
|
Westminster Savings Credit Union VISA Desjardins Elegance Gold |
35,000 per household | 5,000 | 19.90 | 19.90 | 4.90 for the first 5 statements; 19.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | Free | Free |
|
Westminster Savings Credit Union VISA Desjardins Modulo Gold |
35,000 per household | 5,000 | 9.90 | 9.90 | 4.90 for the first 5 statements; 9.90 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 50 | 10 |
|
Westminster Savings Credit Union VISA Desjardins Odyssey Gold |
35,000 per household | 5,000 | 19.40 | 19.40 | 4.90 for the first 5 statements; 19.40 thereafter | 21 | 1 | $10 or 3%, whichever is greater | 110 (90 for 76 yrs. and over) | 30 |
1. The grace period represents the number of days between the statement date and the payment due date, during which new purchases are interest-free if you meet the conditions of the interest calculation method (Method 1 [M1] or Method 2 [M2]) used by the issuer. For more information on the interest-free period and the conditions set out by M1 and M2, see Getting the Most from Your Credit Card.
2. If the grace period does not apply, the interest on purchases is calculated from the date of purchase of the item or, in some cases, the date the item is posted to your account.
3. Unless otherwise specified, for cash advances or balance transfers, interest is calculated from the date funds are borrowed. There is no grace period.
4. Credit card issuer may require applicant to provide a security deposit.
5. Low interest rate option is not available in Quebec.
6. M2 is used in all provinces except Quebec, where M1 is used.
7. If you have missed making a payment, the applicable rate is 21.49%.
8. National Bank also has an extensive list of affinity credit cards. For more information on affinity cards visit their web site.
