Rewards and Benefits Matter More as Credit Cardholders in Canada Feel the Squeeze
TORONTO--( BUSINESS WIRE)--The value of rewards and benefits has emerged as a critical differentiating factor among credit cardholders in Canada, and now drives 53% of overall satisfaction, according to the JD Power 2026 Canada Credit Card Satisfaction Study, SM released today. At the same time, more cardholders are facing financial pressure, with 59% classified as financially unhealthy, 1 up from 58% in 2025, and 38% of customers now carrying revolving debt, up from 36% a year ago.
Despite mounting pressures—including rising credit card debt and increasing instances of fraud and merchant surcharges—credit cardholders in Canada remain resilient, with their outlook on personal finances and the economy remaining positive and many actively seeking new cards with better rewards and benefits.
“Credit cardholders in Canada are under growing financial pressure, and that’s making them extremely focused on getting value from their credit cards,” said John Cabell, managing director of payments intelligence at JD Power. “With reward bonuses declining and more customers shopping for cards with better rewards and benefits, issuers have a clear opportunity to differentiate by delivering meaningful value that customers can see and use.”
Following are some key findings of the 2026 study:
Index Ranking
American Express ranks highest in customer satisfaction among credit card issuers for a second consecutive year, with a score of 618. PC Financial (596) ranks second and Tangerine Bank (583) ranks third.
Canadian Tire Triangle World Elite Mastercard ranks highest among credit cards with no annual fee for a third consecutive year, with a score of 669. PC World Elite Mastercard (606) ranks second and PC World Mastercard (601) ranks third.
American Express Cobalt Card ranks highest among credit cards with an annual fee for a third consecutive year, with a score of 645. PC Insiders World Elite Mastercard (628) ranks second and Scotiabank Passport Visa Infinite Card (592) ranks third.
To view the complete rankings for each segment, visit: http://www.jdpower.com/pr-id/2026090.
The Canada Credit Card Satisfaction Study measures cardholder satisfaction with their primary credit card issuer and performance in seven factors (in alphabetical order): account management; benefits; customer service; new account; rewards earning; rewards redeeming; and terms. The 2026 study was fielded from May through July 2026 and includes responses from 11,887 cardholders who used a major credit card in the past three months.
For more information about the Canada Credit Card Satisfaction Study, visit https://www.jdpower.com/business/canada-credit-card-satisfaction-study/.
About JD Power
JD Power delivers mission-critical data, analytics and intelligence that help businesses improve customer experience and operational performance with confidence and clarity. Using proprietary, comprehensive data–including millions of consumer interactions and authoritative automotive datasets–combined with advanced analytics, artificial intelligence and deep industry expertise, JD Power enables leaders to respond to market shifts, make smarter decisions and drive measurable performance improvements.
As an objective source of deep insight into real-world customer interactions with brands and products, JD Power provides the independent intelligence organizations need to anticipate change, strengthen customer engagement and advance growth. Learn more at JDPower.com.
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1 JD Power measures the financial health of any consumer as a metric combining their spending/savings ratio, creditworthiness and safety net items like insurance coverage. Consumers are placed on a continuum from healthy to vulnerable.