Are Premium Credit Cards Worth the Annual Fee in Canada?
A premium card is worth it only if you will use the membership — lounges, credits, insurance, or earn you cannot get at $0. Year-two math is the real test.
Read the guideBest Premium Credit Cards in Canada (2026)
Premium credit cards in Canada usually charge a higher annual fee in exchange for stronger earn rates, travel insurance, lounge access, or a larger welcome bonus. Typical names include Visa Infinite Privilege, World Elite, Reserve, and The Platinum Card. Weigh the fee against benefits you will actually use — a $150 card can be a better fit than a $599 card if you will not use the extras. The cards below currently list an annual fee of at least $120, excluding student products and basic cash-back cards that only meet the fee cut.
By Andrew Card details as of How we review cards
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Showing 38 cards
Marriott Bonvoy American Express Card
by American Express
Annual fee
$120
Welcome bonus
Varies by redemption
MBNA Rewards World Elite Mastercard
by MBNA
Annual fee
$120
Welcome bonus
approximately $245 in cash back value ($165 spend bonus + $80 paperless bonus)
RBC Cash Back Preferred World Elite Mastercard
by RBC
Annual fee
$120
Welcome bonus
up to $300 (15% extra on first $2,000 / 3 months)
Scotia Momentum Visa Infinite Card
by Scotiabank
Annual fee
$120
Welcome bonus
Up to $300 cash back bonus (15% × $2,000) plus first-year fee waiver value
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