This ranking revealed the best credit cards to use at grocery stores in Canada as prices rise
Inflation is down but food prices are still going up. 👀
Grocery store aisle in Canada. Right: Credit cards and Canadian money.
Even though inflation rates are down, grocery prices are still going up across the country.
There's a ranking of the best credit cards to use at grocery stores in Canada as "food prices continue to outpace overall inflation."
On May 20, 2025, the Consumer Price Index (CPI) revealed that inflation was 1.7% in April, which is down from 2.3% the previous month.
Natasha Macmillan, the senior business director of everyday banking at Ratehub.ca, said that food prices are on the rise despite the overall decline.
Those prices were up 3.8% in April, year over year, compared to 3.2% in the previous month.
"Food prices continue to outpace overall inflation," Macmillan said.
This is the third month in a row that grocery prices increased faster than the all-items CPI.
"For many Canadians, grocery bills are climbing faster than their paycheques," Macmillan said.
So, Macmillan recommended that you "stack savings" by using free grocery price-matching apps and rewards credit cards to "make a real difference at checkout."
Here's the Ratehub.ca ranking of the best credit cards for groceries to use at stores like Costco, Walmart, Loblaws, No Frills, and more.
Costco
The best credit card for groceries at Costco is:
- CIBC Costco Mastercard
You earn 1% back on your in-store purchases. Plus, you earn at a higher rate on Costco gas and restaurant purchases during the welcome bonus period.
Ratehub.ca noted that the cash back rewards can only be redeemed at Costco and are given once a year.
No Frills
The best credit card for groceries at No Frills is:
- Tangerine Money-Back Credit Card
With the Tangerine Money-Back Credit Card, you don't have to pay an annual fee.
You can choose your own bonus categories that earn you a cash back rate of 2% per dollar spent.
Also, cash back is paid monthly instead of annually.
Walmart
The best credit cards for groceries at Walmart are:
- Tangerine Money-Back Credit Card
- Walmart Rewards Mastercard
With the Tangerine Money-Back Credit Card, there is no annual fee, and cash back is paid monthly instead of annually.
You can also choose your own bonus categories, which earn you a cash back rate of 2% per dollar spent.
With the Walmart Rewards Mastercard, you earn 1.25% back pre-tax in Walmart Rewards for all Walmart purchases.
Also, you get 1% back in Walmart Rewards on all other purchases.
There is no annual fee and low income requirements for this credit card.
Loblaws, Superstore and FreshCo
The best credit cards for groceries at FreshCo, Loblaws, and Superstore are:
- CIBC Dividend Visa Infinite Card
- Scotiabank Momentum Visa Infinite Card
With the CIBC Dividend Visa Infinite Card, there is a 1% earn rate for all purchases and 4% cash back on grocery and gas purchases.
There is a cash-back-on-demand feature that lets you redeem rewards at any time starting in increments of $25.
It has an annual fee of $120, though.
With the Scotiabank Momentum Visa Infinite Card, you earn 4% back on groceries, recurring bill payments and subscriptions, 2% on gas, local transit and transportation costs, and 1% on everything else.
The annual fee is waived for the first year, and then you have to pay $120 annually.
Sobeys, Metro, Food Basics, Longo's, Rabba, and Whole Foods
The best credit cards for groceries at Sobeys, Metro, Food Basics, Longo's, Rabba, and Whole Foods are:
- American Express Cobalt Card
- Scotiabank Gold American Express Card
With the American Express Cobalt Card, there is an annual fee of $156, but you get a flexible point redemption system and a welcome bonus.
You earn five times the points on eligible restaurants, groceries, and food delivery purchases (with a spending cap) and two times the points on ride shares, transit, and gas.
With the Scotiabank Gold American Express Card, the annual fee is $120.
There is a five times multiplier for every $1 spent on groceries, restaurants, food delivery and entertainment and a three times multiplier on gas and transit.
But these cards aren't accepted at all grocery chains, including most discount retailers and Loblaw-owned stores, according to Ratehub.ca.
That's why these American Express cards are the best for Sobeys, Metro, Food Basics, Longo's, Rabba, and Whole Foods.