Most Exclusive Credit Cards In Canada For June 2024

Contributor

Updated: May 7, 2024, 12:24pm

Courtney Reilly-Larke
editor

Fact Checked

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.

At the top end of the credit card market sit a few select cards with annual fees starting at several hundred dollars, offering elite privileges and perks for customers who qualify and are willing to pay. Unlike most cards, these require a high income and very good to excellent credit scores. And in one case among the cards in this article, it’s not even possible to apply for the card; it’s so exclusive that the issuer decides to invite you, and then you’ll have to pay thousands in fees to join.

But are these exclusive cards worth the hype and sky-high fees? For average spenders, the answer is no. But if you’re a high earner, and a big spender, the perks—and in some cases the points you can earn with them—could make them a worthy choice.

Take a look at the luxury features, benefits and rewards of the most exclusive credit cards in Canada.

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Most Exclusive Credit Cards in Canada for June 2024


BEST FOR HYPER-EXCLUSIVITY

Centurion Card from American Express

Centurion Card from American Express
5.0
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

Not Disclosed

Annual Fee

$5,000

Regular APR

See Terms

Centurion Card from American Express

Welcome Bonus

Not Disclosed

Annual Fee

$5,000

Regular APR

See Terms

Why We Picked It

American Express only lets individuals who can shell out large sums of money carry the exclusive Centurion Card. Its invite-only membership is shrouded in secrecy, but we know the thousands of dollars worth of initiation fees and annual fees that it comes with pay for some ultra-luxury perks.

Pros & Cons
  • Exclusive travel and hotel benefits
  • No preset spending limit
  • Poor points earnings (only 1 point per dollar on all spending)
  • Invite-only membership
  • High annual and initiation fees
Card Details
  • 1 Membership Rewards point per dollar on all eligible purchases
  • Elite status at top hotels, including IHG Platinum Elite, Hilton Honors Diamond and Marriott Bonvoy Gold
  • Delta SkyMiles Platinum Medallion status with priority check-in and boarding, upgrades, priority waitlisting and enhanced mileage earnings
  • American Express Global Lounge Collection access to more than 1,400 airport lounges across 140 countries
  • Exclusive Hertz Platinum status and Avis President’s Club membership
  • VIP airport arrival services at 32 major airports
  • Free Equinox gym membership (valued over $3,000)
  • 24/7 concierge service
  • Minimum annual spending is estimated to be between $250,000 to $500,000 USD
  • Initiation fee of $10,000 USD
  • Note: All figures for the Amex Centurion are in U.S. dollars

Best For Luxury Hotel Benefits

The Platinum Card® from American Express

The Platinum Card® from American Express
4.9
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

Up to 100,000 bonus Membership Rewards points

Annual Fee

$799

Regular APR

30% due in full or 21.99% (flexible payment option)†

The Platinum Card® from American Express
Apply Now

On American Express's Secure Website

Welcome Bonus

Up to 100,000 bonus Membership Rewards points

Annual Fee

$799

Regular APR

30% due in full or 21.99% (flexible payment option)†

Why We Picked It

For a steep annual fee, the American Express Platinum Cardoffers exclusive access to hotel loyalty programs and benefits that offer an average value of $600 at over 1,500 participating hotels and resorts. However, for average spending, this card’s fee does cancel out its earning potential, so it’s best used only by big spenders and those who can seriously benefit from its travel perks.

Pros & Cons
  • Fast-tracked status with multiple hotel loyalty programs
  • No pre-set spending limit
  • $799 annual fee (no first-year rebate)
  • Must pay statements in full to get lower interest rates
Card Details
  • Unlock special experiences with the Platinum Card®
  • Earn up to 100,000 Membership Rewards® points – that’s up to $1,000 towards a weekend away
  • New Platinum® Cardmembers, earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership
  • Plus, earn 30,000 points when you make a purchase between 14 and 17 months of Cardmembership
  • Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada, 2 points for every $1 in Card purchases on eligible travel, and 1 point for every $1 in all other Card purchases
  • Access a $200 Annual Travel Credit through American Express Travel Online or Platinum® Card Travel Service
  • Enjoy a $200 Annual Dining Credit at some of Canada’s best restaurants
  • Unlock $200 or more in additional value with Member extras. You can earn statement credits for qualifying purchases with participating brands
  • Take full advantage of The American Express Global Lounge CollectionTM which unlocks access to over 1,300 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
  • Enjoy flexible ways to use your points such as statement credits for any eligible purchase charged to your Card, new travel purchases booked on American Express Travel Online through the Flexible Points Travel Program, and eligible flights through the Fixed Points Travel Program
  • Transfer points 1:1 to several frequent flyer and other loyalty programs
  • Enjoy complimentary benefits that offer an average value of $600 USD at over 1,500 extraordinary properties worldwide when you book Fine Hotels + Resorts
  • Enjoy premium benefits at the Toronto Pearson Airport
  • You will also have access to many leading hotel and car rental companies’ loyalty programs. Our partners include Marriott International, Hilton Hotels and Resorts, Hertz and Avis
  • Interest applies in accordance with your Cardmember Agreement, Information Box, and Disclosure statement if the total New Balance is not paid by the Payment Due Date each month. All payments must be received by the Payment Due Date shown on the monthly statement
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link.

Best For Business Purchases

Business Platinum Card® from American Express

Business Platinum Card® from American Express
4.8
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

Up to 120,000 Membership Rewards® points

Annual Fee

$799

Regular APR

30% 'Due In Full' balance, 21.99%-28.99% (flexible payment option)

Business Platinum Card® from American Express
Apply Now

On American Express's Secure Website

Welcome Bonus

Up to 120,000 Membership Rewards® points

Annual Fee

$799

Regular APR

30% 'Due In Full' balance, 21.99%-28.99% (flexible payment option)

Why We Picked It

Business travellers can enjoy the luxuries of airport lounges, hotel benefits and high-level status with elite loyalty programs while earning 1.25 points on every dollar.

Pros & Cons
  • Up to 120,000 Membership Rewards Points as a welcome bonus
  • Comprehensive travel insurance
  • Transfer points to frequent flyer and hotel programs
  • Charge card and flexible payment options available†
  • $799 annual fee
  • Interest rate is 30% on the Due In Full balance
  • Variable interest rate can go up to 28.99% on the flexible payment option
Card Details
  • Redefine what you’ll experience and discover with Platinum
  • Earn up to 120,000 bonus Membership Rewards® points
  • Earn 80,000 Membership Rewards® points after you charge $15,000 in net purchases to your Card in your first 3 months of Cardmembership.
  • Plus, earn 40,000 points when you make a purchase between 14 and 17 months of Cardmembership.
  • That’s up to $1,200 in statement credit that can be reinvested in your business
  • Earn points that you can redeem in a variety of ways.
  • Earn 1.25 Membership Rewards points for virtually every $1 in purchases and get the most out of your business expenses
  • Enjoy an exceptional line-up of rewards redemption options for you and your business, including travel, dining, entertainment, gift cards, merchandise, and more with Membership Rewards program.
  • Transfer points to frequent flyer and hotel programs, including one-to-one to Aeroplan®* and Avios.
  • Bolster your business with up to $820 in annual business and travel statement credits
    Enroll your eligible Card and earn up to $500 in business statement credits on qualifying purchases with Dell and Indeed.
  • Enroll and earn up to $120 in eligible Wireless Credits each year.
  • Access a $200 Annual Travel Credit each year of your Cardmembership
  • Unlock spending power and payment flexibility with a full suite of business management tools that give you more control over your business – anytime and anywhere
  • Enjoy financial flexibility with no pre-set spending limit on purchases. With this Card, your purchasing power adjusts dynamically with your Card usage, and can grow over time, as long as you make your payments on time and maintain a good credit history.
  • Maximize your cash flow with up to 55 interest free days so you can keep more cash on hand when you need it most.
  • Pay for business expenses over time with Flexible Payment Option.
  • This charge Card has both Due in Full and Flexible Payment Option balances. All Due in Full balances must be paid each month. Interest rate of 30% applies to each delinquent Due in Full Charge. This rate is effective from the day the account is opened. The Preferred rate of 21.99% applies to your Flexible Payment Option balance. If you have 2 separate Missed Payments in a 12 month period, the Flexible Payment Option rate for your account will be 25.99%. If you have 3 or more separate Missed Payments in a 12 month period, the Flexible Payment Option rate will be 28.99%. These rates are effective from the day the Flexible Payment Option is first available on your account.
  • Extend payment solutions with Supplementary Cards for your employees.
  • Enjoy special benefits for you and your business.
  • Take full advantage of the American Express Global Lounge Collection which unlocks access to over 1300 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience.
  • Enjoy premium benefits at the Toronto Pearson Airport, including access to the Pearson Priority Security Lane and discount on parking.
  • Get access to discounted base fares for you and your travel companions when you book through the International Airline Program.
  • Enjoy complimentary benefits that offer an average total value of $600 USD* at over 1,500 extraordinary properties worldwide when you book Fine Hotels + Resorts.
  • Upgrade your stay with premium status at leading hotel brands like Hilton Honors and Marriott Bonvoy
  • Enjoy access to specialty services and events, preferential treatment, and a dedicated Concierge team.
    Access a $100 CAD credit for NEXUS every 4 years with your Cardmembership
  • Access comprehensive insurance coverage for your travel needs.
  • Access Out of Province/Country Emergency Medical Insurance (for under age 65), even if you don’t charge your tickets and travel arrangements to your Business Platinum Card.
  • Access Trip Cancellation Insurance, Trip Interruption Insurance, Travel Emergency Assistance, and up to $500,000 Travel Accident Insurance when you fully charge your tickets and travel arrangements to your Business Platinum Card.
  • Plus, access Lost or Stolen Baggage Insurance, Flight Delay Insurance, and Baggage Delay Insurance when you fully charge your airline tickets to your Business Platinum Card.
  • Save money when travelling with complimentary Car Rental Theft and Damage Insurance Access coverage that can protect your business purchases when you charge the full price of eligible items to your Business Platinum Card
  • Protect your eligible purchases against accidental physical damage and theft for up to 90 days with Purchase Protection® Plan
  • Double the manufacturer’s original warranty up to one additional year with Buyer’s Assurance® Protection Plan
  • Equip your business with Mobile Device Insurance
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, we may receive compensation from American Express, which can be in the form of monetary payment.

Best For Airport Perks

American Express® Aeroplan®* Reserve Card

American Express® Aeroplan®* Reserve Card
4.7
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

Up to 85,000 Aeroplan points

Annual Fee

$599

Regular APR

21.99%

American Express® Aeroplan®* Reserve Card
Learn More

On American Express's Secure Website

Welcome Bonus

Up to 85,000 Aeroplan points

Annual Fee

$599

Regular APR

21.99%

Why We Picked It

The American Express Aeroplan Reserve Card has some impressive travel benefits and insurance that balance out the annual fee.

Pros & Cons
  • Generous welcome bonus
  • Solid earn rate, especially with Air Canada
  • One annual worldwide companion pass
  • Airport perks like priority check-in, lounge access and more
  • Expensive annual fee
  • Must spend $25,000 in purchase prior to your card anniversary date to receive companion pass
Card Details
  • New American Express® Aeroplan®* Reserve Cardmembers can earn up to 85,000 Aeroplan points
  • Earn 60,000 Aeroplan points after spending $7,500 in purchases on your Card within the first 3 months
  • Plus, earn an additional 25,000 Aeroplan points when you spend $2,500 in purchases in month 13
  • That’s up to $2,600 or more in value when you combine your welcome bonus points and card benefits
  • New Offer: Cardmembers can now get an extra night free for every 3 consecutive hotel nights redeemed with Aeroplan points. Offer ends December 31, 2024
  • Highest Air Canada earn rate on an Aeroplan payment card in Canada: Earn 3X the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
  • Standard Earn Rate: Earn 2X the points on eligible Dining and Food Delivery purchases in Canada and earn 1.25X the points on everything else
  • Get through the airport quicker with Air Canada Priority Check-In, Air Canada Priority Boarding and Air Canada Priority Baggage Handling
  • Enjoy access to select Air Canada Maple Leaf Lounges™* and Air Canada Café™ in North America for you and a guest, with a same day ticket on a departing Air Canada or Star Alliance flight
  • Enjoy your eligible first checked bag free for up to 9 people travelling on the same reservation on Air Canada flights
  • Roll over any unallocated Aeroplan Elite™* Status Qualifying Miles and unused eUpgrade Credits to the following year to enjoy during your travels
  • Get access to more than 1,200 Priority Pass™ airport lounges and enjoy an oasis of comfort before your flight, regardless of your airline or cabin class
  • Insurance Coverage: whether you’re shopping nearby or travelling abroad, you can feel confident knowing you can be taken care of
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment

Best For Aeroplan Business Travellers

American Express® Aeroplan®* Business Reserve Card

American Express® Aeroplan®* Business Reserve Card
4.6
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

Up to 90,000 Aeroplan Points

Annual Fee

$599

Regular APR

21.99%

American Express® Aeroplan®* Business Reserve Card
Apply Now

On American Express's Secure Website

Welcome Bonus

Up to 90,000 Aeroplan Points

Annual Fee

$599

Regular APR

21.99%

Why We Picked It

The same great travel rewards as its personal card counterpart with a few extras for business trips, like priority standby and upgrades.

Learn more: Read our American Express Aeroplan Business Reserve Card Review

Pros & Cons
  • Earn up to 90,000 Aeroplan Points in the first 13 months
  • Priority airport services
  • $599 annual fee
  • Low earn rates on everyday purchases
Card Details
  • Earn up to 90,000 Welcome Bonus Aeroplan®* points.
    • Earn 65,000 Aeroplan points after spending $10,500 in purchases on your Card within the first 3 months.
    • Plus, earn an additional 25,000 Aeroplan points when you spend $3,500 in purchases in month 13.
  • Earn Aeroplan points that you can redeem in a variety of ways.
  • Earn 3 points for every $1 spent on eligible purchases made directly with Air Canada and Air Canada Vacations®*, 2 points for every $1 spent on eligible hotels and car rentals.
  • Earn 1.25 points for every $1 spent on everything else.
  • Make the most out of a full suite of business management tools that give you more control over your business – anytime and anywhere.
  • Leverage your cash flow with the option of carrying a balance or paying in full each month.
  • Control employee expenses plus track and accumulate points on your account with Employee Cards, so you have an opportunity to maximize the points you earn.
  • Unlock business travel possibilities to make every work trip one to look forward to.
  • Access more than 1,200 Priority Pass™ airport lounges around the globe. That means an oasis of comfort before your flight—regardless of your choice of airline or cabin class.
  • Enjoy access to select Air Canada Maple Leaf Lounges™ for you and a guest, and Air Canada Café™; in North America, with a same day ticket on a departing Air Canada or Star Alliance®* flight
  • Enjoy Priority Check-In, Priority Boarding, and Priority Baggage Handling when you fly with Air Canada, together with up to eight companions
  • Receive one Annual Worldwide Companion Pass when you spend $25,000 in net purchases prior to your Card anniversary date; your Pass entitles you to buy an accompanying Air Canada economy class ticket for a companion at a fixed base fare from $99 to a maximum of $599 CAD (plus taxes, fees, charges, and surcharges)
  • Stay focused on getting where you need to go. Receive up to $100 CAD in statement credits every four years when NEXUS application or renewal fees are charged to your Aeroplan Business Reserve Card
  • Pay with your American Express Aeroplan Business Reserve Card and present your Aeroplan Membership Card at over 170 Aeroplan partner brands and 120 online retailers via the Aeroplan eStore to earn points twice
  • If you’re departing from Toronto Pearson International Airport, enjoy the benefits of being an American Express Aeroplan Business Reserve Cardmember. Get more from your travel experience with access to Pearson Priority Security Lane, Complimentary Valet Service, 15% discount on parking rates, and 15% discount on Car Care Services
  • Roll over any unallocated Aeroplan Elite™ Status Qualifying Miles and unused eUpgrade Credits to the following year to enjoy during your travels.
  • Enjoy priority access to the standby list and eUpgrades. Get prioritized on the standby waitlist for an Air Canada flight and higher priority when you request an eUpgrade
  • Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $5,000 in eligible net purchases charged to your Card
  • Book flight reward tickets for even fewer points with Air Canada. In addition to flights, you can also redeem for hotel stays, car rentals, vacation packages, merchandise and more
  • Unlock two-car-class rental upgrades, expedited service, dedicated phone line, and more with complimentary upgrade to Avis President’s Club
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment

Best For CIBC Aeroplan Points

CIBC Aeroplan Visa Infinite Privilege Card

CIBC Aeroplan Visa Infinite Privilege Card
4.5
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

110,000 Aeroplan points

Annual Fee

$599 (annual fee rebate of $139 with a CIBC Smart Plus Account)

Regular APR

20.99%

CIBC Aeroplan Visa Infinite Privilege Card

Welcome Bonus

110,000 Aeroplan points

Annual Fee

$599 (annual fee rebate of $139 with a CIBC Smart Plus Account)

Regular APR

20.99%

Why We Picked It

This travel card is packed with priority airport services and flight rewards, plus you can get a first-year annual fee rebate if you have a CIBC Smart Plus Account.

Pros & Cons
  • Outstanding welcome offer
  • Airport lounge access through Maple Leaf Lounges and DragonPass
  • Free first checked bag for you and up to eight companions on any Air Canada flight
  • NEXUS application fee rebate
  • Your full welcome bonus is only realized when you renew the card (30,000 points)
  • High annual fee of $599
  • Steep income requirement of $150,000 per individual ($200,000 per household)
  • Annual worldwide companion pass requires a minimum of $25,000 spent per year
Card Details
  • Welcome bonus of 110,000 Aeroplan points (get 20,000 points after your first purchase, then get 30,000 points when you spend $6,000 or more during your first four monthly statements and then 60,000 points when you have at least $25,000 in net eligible purchases posted on your account during the first 12 monthly statement periods)
  • Free first checked bag
  • Maple Leaf Lounge access (giving you access to 16 airport lounges in Canada and 270 others in the U.S. and Europe)
  • Get six complimentary visits at 1,200 airport lounges
  • NEXUS application fee rebate ($50 value)
  • Earn 1.5 Aeroplan points for every dollar you spend on gas, electric vehicle charging, groceries and travel & dining
  • Earn 2 Aeroplan points for every dollar you spend with Air Canada directly (including Air Canada Vacations)
  • Earn 1.25 points for every dollar you spend on all other purchases
  • Based on average Canadian spending, Forbes Advisor Canada estimates this card could earn $170 in rewards value per year, with the annual fee factored in
  • Offers double the points at over 150 Aeroplan partner brands, including Starbucks, LCBO and Amazon
  • Get out-of-province emergency travel medical insurance (up to $5,000,000)
  • Common carrier accident insurance in case of death (up to $500,000)
  • Trip cancellation and trip interruption insurance ($2,500 to $5,000 per insured person)
  • Flight delay and baggage insurance ($500 to $1,000) per insured person
  • Collision, loss and damage insurance with your rental car
  • Free rental car upgrades at Avis
  • Purchase security (180 days from purchase) and extended protection insurance, giving you an additional two years following the expiry of the manufacturer’s warranty
  • Mobile device insurance of up to $1,500)
  • Reach Aeroplan Elite status faster
  • Unlock an annual companion voucher for a trip around the world when you spend $25,000 on the card
  • Get room upgrades, complimentary Wi-Fi and breakfast, and late checkout at over 900 Visa Infinite Luxury Hotels
  • Call your 24/7 complimentary concierge for help with your travel itinerary and more

Best For TD Aeroplan Points

TD® Aeroplan® Visa Infinite Privilege* Card

TD® Aeroplan® Visa Infinite Privilege* Card
4.4
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

Up to 85,000 Aeroplan points†

Annual Fee

$599

Regular APR (Purchases) / Regular APR (Cash Advances)

20.99% / 22.99%

TD® Aeroplan® Visa Infinite Privilege* Card
Apply Now

On TD's Website

Welcome Bonus

Up to 85,000 Aeroplan points†

Annual Fee

$599

Regular APR (Purchases) / Regular APR (Cash Advances)

20.99% / 22.99%

Why We Picked It

The TD Aeroplan Visa Infinite Privilege Cardoffers high-end travel benefits with a surprisingly accessible credit score requirement.

Pros & Cons
  • Extensive travel perks, insurance and consumer protections
  • Low credit score threshold for such a powerful card
  • High annual fee
  • Requires minimum personal income of $150,000 a year or $200,000 in annual household income
Card Details
  • Earn up to $2,900 in value† including up to 85,000 Aeroplan points (enough for a round trip to Honolulu†) and additional travel benefits. Conditions Apply. Account must be approved by June 3, 2024
  • Earn a welcome bonus of 20,000 Aeroplan points when you make your first purchase with your new card†
  • Earn an additional 40,000 Aeroplan points when you spend $10,000 within 180 days of Account opening†
  • Plus, earn a one-time anniversary bonus of 25,000 Aeroplan points when you spend $15,000 within 12 months of Account opening†
  • Enroll for NEXUS and once every 48 months get an application fee rebate†
  • Share first free checked bags with up to 8 travel companions† and get unlimited access to Maple Leaf Lounges†, including complementary access for one guest
  • Plus, primary card holders get 6 complimentary worldwide select airport lounge visits annually through the Visa Airport Companion Program†
  • This offer is not available to residents of Quebec
  • †Terms and conditions apply

Best For Premium Travel Benefits

BMO eclipse Visa Infinite Privilege Card

BMO eclipse Visa Infinite Privilege Card
4.3
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

90,000 BMO Rewards points

Annual Fee

$499

Regular APR

20.99%

BMO eclipse Visa Infinite Privilege Card

Welcome Bonus

90,000 BMO Rewards points

Annual Fee

$499

Regular APR

20.99%

Why We Picked It

This card offers discounts at over 95 golf resorts and courses around the world, plus access to select private clubs.

Pros & Cons
  • A welcome bonus worth over $600 in points value
  • Earns 5 points per dollar in major spending categories
  • $200 annual lifestyle credit
  • Includes travel insurance and other perks
  • High annual fee
  • Spending cap on accelerated categories (accelerated rate applies on the first $100,000 in spending per year)
  • Need to have a high first-year spend ($100,000) to earn the full welcome bonus
Card Details
  • 50,000 points when you spend $6,000 within the first 3 months
  • 40,000 points when you spend at least $100,000 in the first year
  • Earns 5 points per dollar on groceries, gas, dining, travel and drugstore purchases
  • Earns 1 point per dollar on everything else
  • Earn 25% more points on purchases when you add an authorized user
  • $200 lifestyle credit
  • Includes a Visa Airport Companion membership and 6 complimentary airport lounge visits per year
  • Built-in travel insurance, including emergency medical, travel accident, trip cancellation/interruption, flight delay and baggage insurance
  • Includes rental car collision/loss damage insurance, mobile device insurance, purchase security and extended warranty

Best For Aventura Points

CIBC Aventura Visa Infinite Privilege Card

CIBC Aventura Visa Infinite Privilege Card
4.2
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

80,000 Aventura Points

Annual Fee

$499

Regular APR

20.99%

CIBC Aventura Visa Infinite Privilege Card

Welcome Bonus

80,000 Aventura Points

Annual Fee

$499

Regular APR

20.99%

Why We Picked It

Aventura points collectors get all the bells and whistles of a premium travel card in addition to gas rebates and car rental discounts.

Pros & Cons
  • $200 annual travel credit
  • 2 NEXUS application fee rebates ($50 each)
  • Highest earn rate is limited to CIBC Rewards Centre travel purchases
  • Annual fee rebates are only available for select CIBC accounts
Card Details
  • Welcome bonus of 80,000 Aventura Points (50,000 points after spending $3,000 in the first four months and 30,000 points as an anniversary bonus)
  • 3 points per dollar on travel purchased through the CIBC Rewards Centre
  • 2 points per dollar on dining, entertainment, transportation, gas, electric vehicle charging and groceries ($200,000 annual limit)
  • 1.25 points per dollar on everyday purchases
  • Forbes Advisor estimates a rewards value of $671.72 in net annual earnings based on average Canadian spending, with the annual fee factored in
  • Emergency medical coverage: $5 million for 31 days (10 days for ages 65 and older)
  • Common carrier/travel accident insurance: $500,000
  • Trip cancellation: $2,500 per person ($10,000 per account)
  • Trip interruption: $5,000 per person ($25,000 per account)
  • Flight delay: $500 per person ($1,000 per account)
  • Lost/stolen baggage: $1,000 per person ($2,500 per account)
  • Delayed baggage: $500 per person ($1,000 per account)
  • Hotel/motel burglary insurance: $2,500 per occurrence
  • Car rental collision loss/damage: $85,000 for 48 days to cover rental car damage, loss or theft

Best for travel

Scotiabank Platinum Amex Card

Scotiabank Platinum Amex Card
4.1
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Welcome Bonus

60,000 Scene+ points

Annual Fee

$399

Regular APR

9.99%

Scotiabank Platinum Amex Card
Apply Now

On Scotiabank's Secure Website

Welcome Bonus

60,000 Scene+ points

Annual Fee

$399

Regular APR

9.99%

Why We Picked It

Travellers can take advantage of this card’s rock-bottom interest rates and make purchases online or overseas without paying foreign transaction fees.

Learn more: Read our Scotiabank Platinum American Express Card Review

Pros & Cons
  • Welcome bonus worth $700
  • Earn double Scene+ rewards on every purchase
  • No foreign transaction fees
  • Excellent travel insurance coverage
  • Low purchase interest rate of 9.99%
  • Complimentary airport lounge passes
  • American Express perks like Amex Front Of The Line
  • $399 annual fee applies in the first year
  • No bonus reward categories
  • Not accepted at all locations
Card Details
  • $399 annual fee
  • Welcome bonus of 60,000 bonus Scene+ points (get 50,000 points by spending at least $3,000 in your first three months and 10,000 Scene+ point bonus when you spend at least $10,000 in your first 14 months). Must open account by October 31, 2024
  • Earn 2 Scene+ points per dollar spent using the card
  • No foreign transaction fees
  • 9.99% APR on both purchases and cash advances
  • 10 complimentary airport lounge passes
  • Comprehensive travel insurance covers emergency medical, trip interruption, flight delays, travel accidents, rental car collision and hotel burglaries
  • Purchase security and extended warranty protection
  • Mobile device coverage up to $1,000
  • Free concierge service
  • American Express perks like Amex Front Of The Line
  • Hertz #1 Club Gold Membership included

Here’s a Summary of the Most Exclusive Credit Cards


Credit Card Best for Credit Score Annual Fee Welcome Bonus
Centurion Card from American Express Hyper-exclusivity Excellent $5,000 Not Disclosed
The Platinum Card® from American Express Luxury hotel benefits Excellent $799 Up to 100,000 Membership Rewards points
Business Platinum Card® from American Express Business purchases Excellent $799 Up to 120,000 Membership Rewards points
American Express® Aeroplan®* Reserve Card Airport perks Excellent $599 Up to 85,000 Aeroplan points
American Express® Aeroplan®* Business Reserve Card Aeroplan business travellers Excellent $599 Up to 90,000 Aeroplan points
CIBC Aeroplan Visa Infinite Privilege Card CIBC Aeroplan points Very Good/Excellent $599 70,000 Aeroplan points
TD Aeroplan Visa Infinite Privilege Card TD Aeroplan points Very Good/Excellent $599 75,000 Aeroplan points
BMO eclipse Visa Infinite Privilege Card Premium travel benefits Very Good/Excellent $499 90,000 BMO Rewards points
CIBC Aventura Visa Infinite Privilege Card Aventura points Very Good/Excellent $499 80,000 Aventura points
Scotiabank Platinum Amex Card Travel Very Good/Excellent $399 60,000 Scene+ points

Methodology

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With exclusive credit cards, the scoring model used takes into account factors such as, but not limited to, cash back rates and categories, fees, welcome bonus, and other rewards and features. Keep in mind what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.


Most Exclusive Credit Cards in Canada

Centurion Card from American Express

If you’re part of the 1% and regularly spend over $250,000 a year without batting an eye, this card might be for you.

Rewards: Earn 1 point per dollar on everything you buy.

Welcome Offer: Not Disclosed.

Annual Fee: $5,000

Other Benefits and Drawbacks: This card earns thousands of dollars worth of exclusive perks each year, including airport lounge access and a free Equinox gym membership (valued at $3,000). However, get ready to pay a hefty initiation fee that’s rumoured to be upwards of $10,000. If you want to enjoy all the benefits of the Centurion Card from American Express, it will cost you $5,000 per year (all fees are in USD). Plus, the card earns a relatively low amount of points, earning only 1 point per dollar spent across all spending. That said, if you’re spending hundreds of thousands per year, the points could still really add up even at that lower earn rate.

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The Platinum Card from American Express

The Platinum Card from American Express feels exclusive, but you don’t have to be a millionaire to qualify or take advantage of its rewards.

Rewards: 2 points per dollar on dining, food, delivery and travel, 1 point per dollar on all other purchases and bonus points on eligible hotel and car rental bookings.

Welcome Offer: Get up to 100,000 Membership Rewards points. Collect 70,000 points when you spend $10,000 in the first 3 months, plus an additional 30,000 points for making a purchase between 14 and 17 months of card membership.

Annual Fee: $799

Other Benefits and Drawbacks: Despite having lower earn rates than other rewards credit cards, this card can still provide considerable value if you frequently book flights and hotels.

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Business Platinum Card® from American Express

Business owners who travel frequently and don’t care about earning points will get the most value out of this card’s benefits.

Rewards: 1.25 points per dollar on all purchases.

Welcome Offer: Collect 80,000 Membership Rewards points for spending $15,000 in the first 90 days and another 40,000 points when you make a purchase between 14 and 17 months of getting the card (120,000 total points).

Annual Fee: $799

Other Benefits and Drawbacks: The Membership Rewards points from the Business Platinum Card® from American Express are easily transferable to other loyalty programs at a 1:1 ratio. However, watch out for unpaid balances that incur 30% interest charges.

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American Express® Aeroplan®* Reserve Card

Frequent flyers will get a lot of use out of this card’s priority airport services and airport lounge access.

Rewards: 3 points per dollar on eligible Air Canada flights and vacations, 2 points per dollar on dining and food deliveries, 1.25 points per dollar on other purchases and bonus points from participating Aeroplan partners.

Welcome Offer: Get 60,000 Aeroplan points after spending $7,500 in purchases on your Card within the first 3 months, plus earn an additional 25,000 Aeroplan points when you spend $2,500 in purchases in month 13 (up to 85,000 total points).

Annual Fee: $599

Other Benefits and Drawbacks: Extensive travel perks and insurance help offset the $599 annual fee, but you’ll have to spend at least $25,000 every year if you want to get an annual companion pass.

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American Express® Aeroplan®* Business Reserve Card

With the American Express® Aeroplan®* Business Reserve Card, you get a decent earn rate and a laundry list of travel benefits for business trips.

Rewards: 3 points per dollar spent on eligible Air Canada flights and vacations, 2 points on hotel and car rental purchases and 1.25 points on everything else.

Welcome Offer: Receive 65,000 Aeroplan points after spending $10,500 in purchases on your Card within the first 3 months, Plus earn an additional 25,000 Aeroplan points when you spend $3,500 in purchases in month 13 (90,000 total points).

Annual Fee: $599

Other Benefits and Drawbacks: This card rounds out its rewards with comprehensive travel insurance and employee card misuse protection. Business owners who aren’t fond of a $599 annual fee should explore more affordable business credit cards.

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CIBC Aeroplan Visa Infinite Privilege Card

Families and groups who routinely travel together will enjoy the rewards of the CIBC Aeroplan Visa Infinite Privilege Card.

Rewards: 1.5 points per dollar on gas, electric vehicle charging, groceries, travel and dining, 2 points per dollar on Air Canada flights and vacations, 1.25 points per dollar on other purchases and bonus points from Aeroplan partners.

Welcome Offer: Get up to 70,000 Aeroplan points. Get 20,000 points on your first purchase, 20,000 points by spending $4,000 in the first four months and 30,000 bonus points if you spend $25,000 before your card anniversary.

Annual Fee: $599

Other Benefits and Drawbacks: A notable bonus of this travel card is using fewer points to book flights. If you don’t travel often or usually fly solo, you may want to explore other options.

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TD® Aeroplan® Visa Infinite Privilege* Card

If you spend a lot of time in the air, then you might want to take the TD® Aeroplan® Visa Infinite Privilege* Card along for the ride.

Rewards: 2 points per dollar on Air Canada travel and vacation purchases, 1.5 points per dollar on gas, groceries, travel and dining, 1.25 points per dollar on every other purchase and bonus points at participating Starbucks locations.

Welcome Offer: Earn a welcome bonus of 20,000 Aeroplan points when you make your first purchase with your new card. Earn an additional 40,000 Aeroplan points† when you spend $10,000 within 180 days of Account opening. Plus, earn a one-time anniversary bonus of 25,000 Aeroplan points when you spend $15,000 within 12 months of Account opening.† Terms and conditions Apply. Not available for residents of Quebec. Account must be approved by June 3, 2024.

Annual Fee: $599

Other Benefits and Drawbacks: Buying coffee and other eligible items at Starbucks will get you 50% more Aeroplan points and Stars. If you’re looking for rewards beyond travel, consider cash-back credit cards.

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BMO eclipse Visa Infinite Privilege Card

High earners who travel on a regular basis and enjoy playing a few rounds of golf will appreciate the perks of the BMO eclipse Visa Infinite Privilege Card.

Rewards: 5 points on every dollar for groceries, gas, travel, dining, takeout and drugstore purchases, 1 point per dollar on everything else and 25% more points if you add an authorized user.

Welcome Offer: Earn up to 90,000 BMO Rewards points as a new cardholder. Get 50,000 points for spending $6,000 in the first 90 days and another 40,000 points if you spend $100,000 in the first year.

Annual Fee: $499

Other Benefits and Drawbacks: This card earns an extra 25% more points for adding an authorized user when signing up. The $499 annual fee may be a sticking point for average spenders.

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CIBC Aventura Visa Infinite Privilege Card

This card makes it easy to earn flexible travel rewards on daily purchases and at the pump while saving you $0.10 per litre.

Rewards: 3 points per dollar on CIBC Rewards Centre travel purchases, 2 points per dollar on dining, entertainment, grocery, gas, electric vehicle charging and transportation and 1.25 points per dollar on everything else.

Welcome Offer: Get 25,000 Aventura points when you spend $3,000 and after you spend $6,000 in the first four months and 30,000 points as an anniversary bonus (80,000 total points).

Annual Fee: $499

Other Benefits and Drawbacks: You can only earn 3 points per dollar when you spend money on travel with the CIBC Reward Centre, but the other earn rates still offer decent returns on Aventura points for everyday purchases.

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Scotiabank Platinum Amex Card

Travellers who often spend money overseas and carry a balance can save on foreign transaction fees and interest charges with the Scotiabank Platinum Amex Card.

Rewards: 3 points per dollar on hotel and car rental bookings made through Scene+ Travel and 2 points per dollar on all other purchases.

Welcome Offer: Earn 50,000 Scene+ points for making $3,000 in eligible purchases in the first 3 months and 10,000 bonus points after you spend $10,000 in the first 14 months (60,000 total points).

Annual Fee: $399

Other Benefits and Drawbacks: What this card lacks in travel benefits, it makes up for in offering one of the lowest interest rates for American Express credit cards.


How To Get Exclusive Credit Cards

Unless you’re waiting on an invite for the Centurion Card from American Express, here’s how you can get your hands on an exclusive credit card:

  • Research credit card options: The rewards and benefits you get should be worth more than the annual fee and suit your lifestyle.
  • Make sure you qualify: Check the eligibility criteria for personal and household income, minimum credit score and other requirements.
  • Apply for a credit card: Submit an application online or in person, providing everything that’s needed to verify your identity, employment, income and credit.

If you want a better shot at getting approved for an exclusive credit card, try improving your credit score, increasing your income or applying for an exclusive card that’s easier to qualify for.


Should I Get An Exclusive Credit Card?

Even if you qualify for an exclusive credit card, it’s only worth the wallet space if you take advantage of the perks. Consider how often you’ll use priority airport services and lounges, hotel upgrades and VIP status benefits.

If getting an exclusive card is more about the elite status it conveys, you’re basically paying for an expensive ego boost. There are other premium cards that offer comparable rewards for a fraction of the price.


Frequently Asked Questions (FAQs)

What is a black card?

A so-called black card is a generic term for an ultra-exclusive high-end credit card, considered a status symbol since black cards typically require to be a high spender, an invitation from the issuing bank and very high initiation and annual fees. In general, when people say “black card” they refer to the Centurion® Card from American Express, a card so exclusive that nobody knows what it takes to get an invitation.

What is the rarest credit card to have?

The rarest credit card is likely so elusive that you’ve never even heard of it. The Centurion Card from American Express was just a rumour until big spenders started showing off their purchases made with the card, like a $170.4 million painting a billionaire bought at an auction in 2015.

What annual fees do luxurious credit cards charge?

Luxurious credit cards usually hide their fees from the public. The Centurion Card from American Express is one of the few that put their annual fee upfront, at $5,000 US. Other top-end cards have a more affordable price point, like the American Express Platinum Card, which costs $799 per year—and you can actually apply for it, unlike the Centurion.

What is the most prestigious credit card?

One of the most prestigious credit cards is the Centurion Card from American Express. Often called the “Black Card”, it’s invite-only with elite status benefits and reportedly supports multimillion-dollar purchases.

What makes a credit card exclusive?

An exclusive credit card generally has higher spending limits (or no limit at all) and offers more benefits and rewards than a standard credit card. There are only so many available, and some require an invite, adding to the exclusivity.

What credit card do billionaires use?

Billionaires likely use an invite-only credit card that’s not available to the public. However, they likely have multiple cards for different situations. They might use one card for travel rewards, another for cash back on everyday purchases and maybe a special card for spending money on private jets or other items most people can only dream about.


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