Credit cards for seniors

Many credit cards accept applications from Canadian retirees and seniors. Compare your options here.

By   |   Verified by David Boyd   |   Updated 28th September 2022

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Comparing credit cards for seniors

Neo Credit Card

On Neo Financial's website

Featured

Neo Credit Card

Balance transfer

N/A

Purchase rate

From 19.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Earn up to 15% cashback on your first purchase at participating partners.
  • Earn enormous bonuses — like 15% cashback — on your first purchase at most partners. Plus an average 5% cashback at Neo partners.
  • Boost your cashback by choosing a flexible, monthly rewards plan.
  • No annual fee.

Pros

  • Earn an average of 4% cashback at thousands of local and national gas, grocery stores, and more.
  • You can cash out anytime with just one tap.
  • $0 p.a. annual fee.

Cons

  • There is a 2.5% Foreign Exchange Fee.
SimplyCash Card from American Express

SimplyCash Card from American Express

Balance transfer

N/A

Purchase rate

19.99% p.a. ongoing

Annual fee

$99.00 p.a. ongoing

Highlights

  • New SimplyCash Card from American Express Cardmembers can earn 10% cashback on purchases (up to $400 cashback) for the first 4 months of Cardmembership.
  • Earn a $100 statement credit when you charge $4,000 in net purchases to your Card in your first 4 months of Cardmembership.
  • Earn 2% cashback on purchases when your welcome offer ends.

Pros

  • Earn up to $500 cashback in the first 4 months when you meet the criteria.
  • Earn 2% cashback on purchases when your welcome offer ends.
  • Enjoy Travel-Related and Shopping Insurance Coverage.
  • No annual fee on additional cards.

Cons

  • There is no balance transfer offer on this card.
Scotia Momentum Visa Infinite Card

Apply by 31 October 2022

Scotia Momentum Visa Infinite Card

Balance transfer

6 months at 2.99% p.a.

Purchase rate

20.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • 2.99% p.a. for 6 months on balance transfers (no balance transfer fee applies). Reverts to cash advance rate of 22.99% p.a.
  • No annual fee for the first year, including supplementary cards ($120 and $50 p.a. respectively thereafter).
  • Earn cashback on groceries, recurring payments, gas, and everything else.

Pros

  • 2.99% p.a. for 6 months on balance transfers.
  • No annual fee in the first year.
  • Includes travel, flight delay, lost baggage, and other insurances.

Cons

  • The $120 p.a. annual fee after the initial year.
MBNA True Line Gold Mastercard

MBNA True Line Gold Mastercard

Balance transfer

N/A

Purchase rate

8.99% p.a. ongoing

Annual fee

$39.00 p.a. ongoing

Highlights

  • Take advantage of the 8.99% standard interest rate on purchases and balance transfers. Terms and Conditions apply.
  • Add up to 9 additional cardholders at no extra cost.
  • Low annual fee of $39.
Walmart Rewards Mastercard

Walmart Rewards Mastercard

Balance transfer

N/A

Purchase rate

19.89% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • No annual fee.
  • Earn 1.25% cashback when you shop at Walmart.
  • Earn 1% cashback on gas and all other purchases.

Bank promo

  • Get up to $25 in bonus Walmart Reward Dollars. Terms and Conditions apply.

Pros

  • Earn Walmart Reward Dollars on all your purchases.
  • $0 p.a. annual fee.
  • Addional cards at no extra cost.

Cons

  • You can only spend your reward dollars at Walmart Canada.