Credit cards for seniors

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

By Yvonne Taylor | Verified by David Boyd | Updated 11 Dec 2023

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Comparing credit cards for seniors

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On 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.

Bank promo

Receive $25 when you signup today. Terms and Conditions apply.

Pros

Earn an average of 4% cashback at thousands of local and national gas, grocery stores, and more.
Get up to a $10,000 credit limit.
You can cash out anytime with just one tap.
$0 p.a. annual fee.
Get up to 4% cashback on all purchases at Shell gas stations and convenience locations. T&Cs apply.

Cons

There is a 2.5% Foreign Exchange Fee.

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On website

SimplyCash Card from American Express

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

Earn up to $100 in Statement Credits when you spend $300 in each monthly billing for the first 10 months of Cardmembership. Terms and Conditions apply.
Earn 2% cashback on gas and grocery.
Earn 1,25% cashback on other eligible transactions.

Pros

Earn up to $100 in statement credits in the first 10 months when you meet the criteria.
No annual fee.
Enjoy Travel-Related and Shopping Insurance Coverage.

Cons

There is no balance transfer offer on this card.

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Apply by October 31, 2024

Scotia Momentum Visa Infinite Card

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

Earn 10% cashback on all purchases for the first 3 months (up to $2,000 in total purchases).
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

Generous cashback rate in the first 3 months.
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.

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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.