Best Store Credit Cards in Canada

Store credit cards can help shoppers save whether it be on groceries, clothes, or toys in addition to other perks such as exclusive offers, extended warranty, purchase protection, and loyalty points. If you are a frequent shopper at the retailer and can take advantage of the rewards program, signing up may be worthwhile. Here is our round-up of the best store credit cards in Canada!

Ratehub.ca's take

The Triangle Mastercard is another popular credit card with no minimum income requirements. This card offered by Canadian retailer Canadian Tire offers rewards on all purchases with 4% back on CT Money on eligible purchases made at Canadian Tire, SportChek, and 0.5% back on all other purchases. 

Pros

• No annual fee and no income requirements, making it accessible to a wider range of customers
• Easy to earn rewards
• Qualifying purchase of $150 or more at a Canadian Store is eligible for no fee, no interest financing (financing will be spread out over 24 months and will be charged to your credit card in equal payments every month)

Cons

• Low earn rate at stores other than Canadian Tire, SportChek and participating Marks. To overcome this, consider combining it with another cash back credit card
• No insurance, such as purchase protection and extended warranty coverage. Most other no annual fee credit cards would include these basic insurance types

Ratehub.ca's take

If you are looking for a credit card that will help you save money on groceries, the PC Financial Mastercard is a great choice, especially for those who frequently shop at Loblaws-owned stores and Shoppers Drug Mart. 

Pros

• Welcome offer - earn 20,000 PC Optimum points
• No annual fee and no income requirements, making it accessible to a wider range of customers
• Loblaw is one of Canada’s largest retailers, so there’s no shortage of opportunities to earn and redeem points
• Stack your points by showing your PC Optimum card at Loblaw-affiliated stores and paying with your PC Financial World Elite Mastercard
• Earn rates are high compared to other no-fee credit cards
• Offers travel insurance benefits adding value to cardholders

Cons

• Can only redeem points in increments of 10,000
• Points cannot be transferred to other loyalty programs 
• Very strict redemption rules - points cannot be used to pay for purchases at non-Loblaws retailers or redeemed against a statement balance. Plenty of other rewards cards on the market offering more flexibility

Ratehub.ca's take

If you are a frequent shopper at Walmart, the Walmart Rewards Mastercard lets you earn Walmart Rewards on purchases everywhere and use them to save when shopping at Walmart. With this card you can earn 1.25% back pre-tax in Walmart Rewards for all your Walmart purchases and 1% back in Walmart Rewards on all other purchases. While it is believed that the earn rate at Walmart doesn't stand out to competitors, the 1% cash back for all other purchases is quite competitive for a no fee credit card. 

Pros

• No annual fee and low income requirements
• Welcome bonus - null

Cons

• Does not include a lot of flexibility in rewards redemption as rewards can only be redeemed at Walmart (either in-store or online)
• No additional insurance or any substantial side perks 
• Earn rate only applies to the pre-tax spend (which can be a bit misleading when compared to other cards)