Skip to main content
scf
Compare
Advertiser disclosure

We may receive compensation when an active issuer partnership is disclosed. Compensation does not change the SCFinance comparison score, our picks, or where a card ranks. Read our full disclosure.

Classic Mastercard Review: Fees, Rates and Rewards

A Canadian comparison of Classic Mastercard, using current institution-supplied details from the FCAC catalog.

By SCFinance Data Team · edited by SCFinance Editorial TeamUpdated Sep 7, 2026 Fact checkedEditorial integrity

The bottom line

Classic Mastercard is estimated to earn 0.00% in ongoing rewards. Under the Toronto everyday profile ($30,000/year, pays in full), that is $0 in annual rewards and -$95 after quantified perks, fees and costs.

2.2
SCFinance score
rewards
1.0
fees
3.6
interest
4.0
perks
1.3
fit
1.0
data confidence
4.4
See the dollar-value calculationExplain this score

Annual rewards

$0

Quantified perks

$0

Annual fee

−$20

Foreign-currency cost

−$75

Estimated ongoing value

-$95

Confidence-adjusted value

-$81.70

Estimated reward return: 0.00% · Data confidence: 86%

No rewards value

Based on the Toronto everyday profile: $30,000 annual spend, Ontario availability and full monthly payment. Welcome offers are kept separate from ongoing value.

Classic Mastercard card
Apply now

on Valley First's website

Rates & Fees

Classic Mastercard

Annual fee
First card: $20.00 Second card: No fee
Rewards rate
N/A
Purchase interest rate
13.99%
Cash advance rate
13.99%
Balance transfer rate
0%
Foreign conversion fee
2.5%

Pros

  • ✓ 0.00% estimated ongoing rewards return

Cons

  • ✕ $20 annual fee
  • ✕ $75 estimated annual foreign-currency cost in the comparison profile
  • ✕ Actual value depends on your spending, redemption choices and eligibility

Benefits and perks

  • Card benefit

    Lost/Stolen Card Reporting — Lost or stolen credit cards can be a major source of fraud. But you can help protect your account against fraud by promptly reporting the theft or loss of your Mastercard. Emergency Card Replacement Services — Having your credit card stolen or lost is inconvenient anytime, but especially when traveling. That’s why we’ll work with you to rush a new card to your location. Emergency Cash Advance — If you need cash advanced to you in an emergency, call and we’ll work with you to arrange a convenient location to pick up the cash, 24 hours a day, 7 days a week.

  • Insurance information

    Travel accident: Not available Travel medical: Not available Travel cancellation: Not available Travel interruption: Not available Flight delay: Not available Baggage: Not available Rental vehicle: Not available

Compare to other cards

№ 1

American Express Cobalt Card

american express · Amex Bank of Canada
3.0
SCFinance score
Apply now

on Amex Bank of Canada's website

Rates & Fees
First card: $191.88 Second card: No feeAnnual fee
1x-5xPointsRewards rate
21.99%Purchase interest
21.99%Cash advance
2.5%FX fee
N/AMin. income
Our take

American Express Cobalt Card is estimated to earn 3.72% in ongoing rewards using American Express Membership Rewards at 1¢ per point. Under the Toronto everyday profile ($30,000/year, pays in full), that is $1,116 in annual rewards and $849 after quantified perks, fees and costs.

Read our full review →

Rewards breakdown
  • 5x Travel Groceries Gas General merchandise. Membership Rewards® program.
Card details
  • Travel Groceries Gas General merchandise
  • Membership Rewards® program.
  • FCAC annual-fee disclosure: First card: $191.88 Second card: No fee
  • Availability: AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, QC, SK, YT
№ 2

American Express Essential Credit Card

american express · Amex Bank of Canada
2.5
SCFinance score
Apply now

on Amex Bank of Canada's website

Rates & Fees
First card: $25.00 Second card: No feeAnnual fee
N/ARewards rate
12.99%Purchase interest
12.99%Cash advance
2.5%FX fee
N/AMin. income
Our take

American Express Essential Credit Card is estimated to earn 0.00% in ongoing rewards. Under the Toronto everyday profile ($30,000/year, pays in full), that is $0 in annual rewards and -$100 after quantified perks, fees and costs.

Read our full review →

Card details
  • N/A
  • FCAC annual-fee disclosure: First card: $25.00 Second card: No fee
  • Availability: AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, QC, SK, YT
Compare these side by side

Frequently asked questions

Where is Classic Mastercard available?

Our FCAC source lists this card for BC. Confirm current residency requirements with Valley First before applying.

Are the rates and fees guaranteed?

No. Rates, promotions and eligibility can change. SCFinance shows the latest synchronized record and links to the issuer so you can confirm the disclosure before applying.

Sources and methodology

Product facts were last checked September 7, 2026. Review the primary product source

See how SCFinance scores and compares cards, including limitations and update controls.