4 Best Metal Credit Cards In Canada (Oct 2022)

September 19, 2022
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There are quite a few metal credit cards in Canada, but some stand out above the rest for their travel perks, generous welcome bonuses, and comprehensive travel insurance. I constantly keep up with the latest promo rates and interest rates and make my recommendations below based on years of experience.

I recommend the American Express Gold Rewards Card as Canada's #1 metal credit card due to its excellent travel perks and high earning rates. Additionally, it comes with medical and travel insurance and very generous welcome bonuses, on top of a high-quality metal credit card.

What Is A Metal Credit Card?

Metal credit cards are just like regular cards, but instead of plastic, they’re made of metal. In Canada, most metal credit cards are premium travel cards, with all the perks and travel benefits you’d expect. Annual fees are the highest of all credit cards and range from $250 to $699. Travel credit cards allow you to earn rewards in the form of points when you purchase at partner brands or make any travel-related purchase. 

Travel cards also require the highest credit scores, averaging a minimum of 710. It’s recommended that you go for a travel card, particularly a metal travel card, only if you can take advantage of all the perks in that year – travel perks like hotel stays or free flights tend to expire yearly.

Without further ado, here are the best metal credit cards Canada has to offer:

The Best Metal Credit Cards In Canada

  1. American Express Gold Rewards Card: Best for lowest annual fee
  2. American Express Platinum Card: Best for earning MR points
  3. American Express Aeroplan Reserve Card: Best for comprehensive travel and medical insurance
  4. BMO eclipse Visa Infinite Privilege Card: Best for generous welcome bonus

American Express Gold Rewards Card

Great for high earn rate at eligible eats & drinks, and medical & travel insurance
  • Annual Fee
    $250
  • Interest Rate
    20.99% on purchases, 21.99% on cash advanes
  • Welcome Bonus
    50,000 pts
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn 50,000 Membership Rewards points as a welcome bonus after you spend $3,000 within 3 months
    • Earn 20,000 Membership Rewards points as a welcome bonus after you spend $2,000 on eligible eats & drinks purchases
    • Annual $100 Travel Credit
    • Gold Rewards membership
    • Priority Pass membership and 4 complimentary visits to Plaza Premium Lounges in Canada
  • Pros & Cons

    Why we like it

    Great for high earn rate at eligible eats & drinks, and medical & travel insurance

    Pros

    • 50,000 bonus welcome points
    • Earn 10 points for every $1 on eats & drinks purchases for the first 3 months
    • Transfer points 1:1 to other loyalty programs (Aeroplan, Marriot Bonvoy, and more)
    • Comprehensive travel and medical insurance
    • $100 Travel Credit and 4 complimentary visits to Plaza Premium Lounges
    • Complimentary Priority Pass membership

    Cons

    • High annual fee ($250)
    • $50 to request an additional Gold Rewards Card
  • More Details

    Bonuses and fees

    The American Express Gold Rewards Card is a premium travel card with an annual fee of $250. For the first three months, it offers a very generous earn rate of 10 MR points per $1 spent on eats & drinks, for up to $2,000 spent (20,000 points). To apply for this card, you need a good credit score of at least 660 and there is no minimum annual income requirement.

    Rewards

    You can earn MR points at a rate of:

    • 10 MR points per $1 spent on eats & drinks (promotional rate for the first three months)
    • 2 MR points per $1 spent on travel-related purchases
    • 2 MR points per $1 spent on groceries, gas, and drugstores
    • 1 MR point per $1 on all other purchases
    • 1 MR bonus point on Amex Travel Online bookings

    Perks and benefits

    • 1 free additional card 
    • Access to American Express’ Front Of The Line program and American Express Experiences
    • Worldwide Airport Lounge Access
    • Complimentary $100 Annual Travel Credit

    Insurance

    The American Express Gold Rewards Card’s got you covered in most insurance categories:

    • Emergency medical insurance
    • Flight delay and cancellation insurance
    • Lost or stolen baggage insurance
    • Travel emergency assistance
    • $500,000 travel accident insurance

American Express Platinum Card

Great for high earn rate at eligible eats & drinks and the option to transfer points to other programs
  • Annual Fee
    $699
  • Interest Rate
    20.99% on purchases
  • Welcome Bonus
    90,000 MR points
  • Rec. Credit Score
    760+
  • Features & Benefits

    • Earn 90,000 Membership Rewards points after you spend $6,000 within your first 3 months
    • Earn 20,000 Membership Rewards points after spending $2,000 at eligible eats & drinks purchases within your first 3 months
    • Full access to the American Express Global Lounge Collection, the Centurion Lounge network, the Plaza Premium Lounges, and more
    • Redeem your points through American Express Travel Online, the Flexible Points Travel Program, or the Fixed Points Travel Program
    • Transfer your points to other reward programs: Marriott International, Hilton Hotels and Resorts, Radisson Hotel Group Americas, Hertz and Avis
  • Pros & Cons

    Why we like it

    Great for high earn rate at eligible eats & drinks and the option to transfer points to other programs

    Pros

    • 90,000 bonus welcome points
    • Earn 10 MR points per $1 spent on eligible eats & drinks purchases
    • Access to over 1,300 American Express lounges worldwide
    • Transfer MR points between Aeroplan and Avios (1:1)
    • Comprehensive travel and medical insurance
    • Travel accident and emergency insurance

    Cons

    • High annual fee
    • Needs a good credit score (660+)
  • More Details

    Bonuses and fees

    The American Express Platinum Card is a premium credit card with one of the highest annual fees, set at $699. It requires an excellent credit score of at least 760 to apply. This card offers a promotional earn rate of 10 MR points per $1 spent on eligible eats & drinks for your first three months. 

    Rewards

    You can earn MR points at a rate of:

    • 3 MR points per $1 on eats & drinks, dining, and food deliveries
    • 2 MR points per $1 spent on travel-related purchases (flights, hotels, and more)
    • 1 MR point per $1 spent on everything else
    • 1 additional point per $1 spent on eligible hotels or car rentals

    Perks and benefits

    • Access to presale tickets through Amex’s Front Of The Line program
    • Complimentary membership to Hilton Honors Gold Status and Marriot Bonvoy Gold Elite status
    • Exclusive access to American Express Experiences (entertainment, dining, retail)
    • Enroll for NEXUS and get a $100 rebate 
    • Special offers when booking travel through American Express Travel Online
    • Priority lane at the Toronto Pearson International Airport

    Insurance

    Like most American Express cards, the Platinum Card offers very complete coverage:

    • Emergency medical insurance
    • Flight delay & trip cancellation insurance
    • Lost or stolen baggage insurance
    • Mobile device coverage
    • $500,000 travel accident insurance

American Express® Aeroplan® Reserve Card

Great for high earn rate at eligible eats & drinks, access to lounges, and priority travel perks
  • Annual Fee
    $599
  • Interest Rate
    19.99% on purchases, 21.99% on cash advances
  • Welcome Bonus
    60,000 Aeroplan points
  • Rec. Credit Score
    660+
  • Features & Benefits

    • Earn 60,000 Aeroplan points as a welcome bonus after spending $6,000 within your first 6 months
    • Earn 20,000 Aeroplan bonus points after spending $2,000 at eligible eats & drinks purchases within your first 6 months
    • Earn 30,000 Aeroplan bonus points if you spend at least $1,000 each month (5,000 Aeroplan points per month)
    • Unlimited free deliveries 5% discount on partner restaurants when you spend over $15
    • Hotel Room Category Upgrade on the first and last night
    • Worldwide Companion Pass when you spend over $25,000 in a year
  • Pros & Cons

    Why we like it

    Great for high earn rate at eligible eats & drinks, access to lounges, and priority travel perks

    Pros

    • 60,000 bonus welcome points
    • High earn rate of 10 Aeroplan points per $1 on eligible eats & drinks
    • Priority Check-In, Boarding, and Baggage Handling when flying Air Canada
    • Access to Air Canada Maple Leaf Lounges and Café for you and a guest
    • 15% discount on parking rates
    • Earn 3 points per dollar spent with Air Canada and Air Canada Vacations

    Cons

    • High annual fee
    • You can only earn Aeroplan points
  • More Details

    Bonuses and fees

    The American Express Aeroplan Reserve Card is a premium travel card with a $599 annual fee, and a credit score of at least 725 is recommended when applying for this card. For the first three months after receiving your card, you will earn Aeroplan points at a rate of 10 points per $1 spent on eats & drinks, up to a maximum of 20,000 Aeroplan points ($2,000 spent).

    Rewards

    You can earn Aeroplan points at a rate of:

    • 3 Aeroplan points per $1 spent on Air Canada
    • 2 Aeroplan points per $1 spent on eats & drinks and food deliveries
    • 2 Aeroplan points per $1 spent at Rocky Mountaineer rail-tours
    • 1.25 Aeroplan points per $1 spent everywhere else

    Perks and benefits

    • Enroll in NEXUS and get a $100 rebate
    • Access to Maple Leaf Lounges a
    • Priority Check-in and Priority Boarding when flying Air Canada
    • Annual Worldwide Companion Pass if you spend at least $25,000 in a year

    Insurance

    Like most American Express cards, the Aeroplan Reserve offers comprehensive travel and medical coverage:

    • Emergency medical insurance
    • Flight delay & trip cancellation insurance
    • Lost or stolen baggage insurance
    • Mobile device coverage
    • $500,000 travel accident insurance

BMO Eclipse Visa Infinite Privilege Card

Great for earn rate
  • Annual Fee
    $499
  • Interest Rate
    20.99% on purchases, 23.99% on cash advanes
  • Welcome Bonus
    90,200 pts
  • Rec. Credit Score
    760+
  • Features & Benefits

    • Earn 90,000 points as a welcome bonus for your first year
    • Earn a $200 annual lifestyle credit as a welcome bonus
    • Add an authorized used and earn 25% bonus points
    • Redeem your points to pay for purchases
    • Complimentary Visa Airport Companion membership plus complimentary lounge visits
    • Access to Visa Airport Experiences, Visa Infinite Dining Series, and Visa Infinite Wine Country
  • Pros & Cons

    Why we like it

    Great for earn rate

    Pros

    • 90,200 bonus welcome points
    • Earn 5 BMO Rewards points per $1 spent on groceries, gas, and transit
    • Earn 25% more BMO Reward points when you add an authorized user
    • Car rental & mobile device insurance (for up to $1,000)
    • Comprehensive travel and medical insurance
    • Access to Priority Security Lane on airports and valet services discounts

    Cons

    • Very high annual fee ($499)
    • Needs an excellent credit score (760+)
  • More Details

    Bonuses and fees 

    The BMO Eclipse Visa Infinite Privilege is a premium travel card with an annual fee of $499. To apply, cardholders need to provide proof of an income of at least $150,000 and have an excellent credit score of at least 760. 

    Rewards

    With this card, you can earn points on every purchase. Here are the rates:

    • 5 points per $1 spent on groceries, gas, dining, travel, and drugstores
    • 1 point per $1 spent everywhere else

    Perks and benefits

    • 25% bonus points when you add an authorized user to your account
    • $200 annual travel credit
    • Priority Security Lane and Priority Boarding
    • 6 complimentary airport lounge visits per year
    • Access to the Visa Infinite Luxury Hotel Collection and Visa Infinite Concierge

    Insurance 

    Some of the insured categories include:

    • Flight delay insurance 
    • Baggage insurance
    • Emergency medical insurance
    • Mobile device insurance
    • Car rental collission

Pros & Cons Of A Metal Credit Card

Pros: Why a metal credit card may be worth it

  • More durable than plastic credit cards
  • Access to exclusive lounges and hotels
  • Perks like priority boarding and free room upgrades on your hotel stays
  • If you’re a frequent traveller, you will find it extremely easy to maximize rewards on travel purchases like airfares, hotels, car rentals, and taxis
  • Some metal credit cards offer the option to exchange your points with other reward programs

Cons: Why a metal credit card may not be worth it

  • Metal cards (and travel credit cards) usually have very high annual fees
  • if you don’t travel frequently, you will miss out on most benefits that metal cards offer
  • Most metal credit cards require a good-to-excellent credit score (700+)

Types Of Metal Credit Cards In Canada

As of 2022, all metal cards available in Canada are travel credit cards. That is cards that offer travel-related perks. The two main types of travel credit cards are general and co-branded cards. Here are the main difference between the two:

#1 General Travel Credit Cards

With these types of travel credit cards, you earn points (usually in the form of transferable points or travel miles). You can redeem these points on most travel expenses, including airline tickets, hotel stays, or cash back on travel-related purchases. These are the most flexible type of cards; you are not limited to any particular airline or hotel chain.

The major benefit of this type of card is its wide range of redemption options. Here are two examples of general travel credit cards in Canada.

American Express Aeroplan Reserve Card10 Aeroplan points per $1 on eligible eats & drinks
BMO Eclipse Visa Infinite Privilege Card5 BMO Rewards points per $1 spent on groceries, gas, and transit (25% bonus points when you add an authorized user)

#2 Co-Branded Travel Credit Cards

Co-branded travel credit cards allow you to redeem your points only at select airlines or hotels. The main benefit over general travel cards is that co-branded card rewards’ tend to be more valuable, at the cost of some flexibility. 

How To Choose A Metal Credit Card In Canada

Annual Fee

The annual fees are the first thing you should look at when shopping for a metal credit card. Generally, paying a higher annual fee means better perks and rates, but you still have to spend money to earn money. Zero-fee cash back cards aren’t as generous with their rates, but if you pay them on time, they’re guaranteed to make you a profit.

It's important to note that if you’re making purchases just to earn cash back, you’re doing it wrong. The perfect cash back card will fit your spending habits, not increase them.

Some of the best cash back cards in Canada with no annual fees include the BMO CashBack MasterCard and the Tangerine Money-Back credit card.

Welcome Bonus And Promotional Rates

Some cash back cards in Canada come with a welcome bonus or promotional rate. Welcome bonuses are one-time rewards for new cardholders, which can take the form of higher cash back rates for fixed periods (usually no more than 3 months and with a built-in spending limit).

Interest Rates

Another important factor is the interest rates; if you often fall behind on credit card payments, a cash back card might not be for you. The standard interest rate for credit cards is around 19.99%, and it can easily outweigh the cash back or other travel benefits if you miss payments. Alternatively, you could consider low-interest credit cards.

Credit Card Insurance & Purchase Warranties

All metal credit cards listed here come with travel perks and offer comprehensive travel and medical insurance. These cards usually have the highest annual fees but are a great option if you travel often and want to ensure your family is protected. Here are some of the typical insured categories you can expect:

  • Baggage loss insurance
  • Baggage delay insurance
  • Car rental insurance
  • Extended warranty
  • Mobile Insurance
  • Flight delay insurance
  • Purchase assurance
  • Travel emergency medical
  • Travel accident insurance
  • Trip cancellation
  • Trip interruption

How To Apply For A Metal Credit Card In Canada

Age

In Canada, the minimum age to request a credit card is the age of the majority. Teens under that age can’t get approved for credit cards but can be added as authorized users to one of their parent’s credit cards. For reference, the age of the majority in Alberta, Manitoba, Ontario, Quebec, Prince Edward Island, and Saskatchewan is 18 years old. In all other provinces, the age of the majority is 19.

Residency Status

Canadian credit cards are available to residents and non-permanent residents. However, most cards require you to be a Canadian resident. Some prepaid, store, and secured credit cards, may not require credit history, but it will depend on the issuer. For premium cards, you can expect residency requirements.

Personal Or Household Income Requirements

Some premium credit cards for people with fair credit come with an annual income requirement, usually ranging from $60,000-$80,000 personal income or $100,000-$150,000 household income. The higher the requirements, the better the perks. Income requirements are usually tied with annual fees as well, and cards with a high-income requirement also tend to have a high annual fee.

Metal Credit Cards FAQs

Are Metal Credit Cards Worth It?

When metal cards might be worth it for you:

  • If you earn enough points every year to compensate for the high annual fee 
  • If you have no trouble keeping up with your monthly credit card payments and are very unlikely to fall behind on payments
  • If you are sure you will be able to redeem your points before they expire – travel perks and benefits usually expire every year

When metal credit cards might not be worth it for you

  • If you don’t travel a lot, chances are you will not make anywhere near enough to justify the high annual fee
  • If you often fall behind on payments, a metal credit card might not be for you. The additional interest you will incur will offset any reward you may gain
  • If you don’t want to keep track of the variable point-to-value rate of travel points, you might be better off with a cash back credit card. The latter has a static point-to-cash rate that doesn’t fluctuate

What Is The Most Affordable Metal Credit Card In Canada?

The American Express Gold Rewards Card is Canada's most affordable metal credit card. It has an annual fee of $250, comes with a generous welcome bonus of 50,000 points, and offers a promotional earn rate of 10 points per $1 spent on eats & drinks purchases for the first 3 months.

What Is The Black Metal Credit Card?

The American Express Centurion Card (also known as the Amex Black Card) is one of the most prestigious credit cards in the world—and also one of the hardest to get. You can't apply for this card, nor can you be referred by a friend; you need to receive an invitation directly from Amex themselves.

Do Metal Cards Work In ATMs?

Yes, metal cards work in ATMs. Metal cards use the same chips to store information that regular plastic cards use.

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