Flexibility is king when it comes to travel rewards. No serious travel points collector wants to be handcuffed to one airline or one points program. They don’t want blackout dates or seat restrictions, and no milk-runs or red-eye flights. That’s why my top credit card pick in the travel rewards category is the American Express Gold Rewards Card.

This card offers incredible flexibility; with the ability to redeem for cash, travel, or to transfer points to frequent flyer and hotel programs. Earn 2 points for every dollar spent at grocery stores, gas stations, drug stores, and on travel. 1,500 in purchases to your card in your first three months.

150 annual fee is on the high end of the travel rewards category. As a rule, travel rewards programs are typically more lucrative than their cash-back cousins. But some cash back cards buck that trend. My top cash back credit card is the Scotia Momentum Visa Infinite Card. This cash back king offers a juicy 4 per cent back on grocery and gas purchases, 2 per cent back on drug store spending and recurring bill payments, and 1 per cent back on everything else.

99 annual fee, the first year is free for new sign-ups. The downside: While you can earn a lot of cash back with the Scotia Momentum Visa Infinite card, the program issues your rewards through a statement credit just once per year. The idea of paying an annual fee for a credit card doesn’t sit well with some people.

That’s fine, but recognize that your options to earn rewards decreases substantially when you move from an annual fee card to a no-fee card. The best of the bunch is Tangerine’s Money-Back Credit Card. The unique feature of this no-fee card is that you get to choose the categories in which you’d like to earn more cash back.

Earn 2 per cent back in three categories if you want your rewards redeemed into a Tangerine savings account, or earn 2 per cent in two categories if your rewards are deposited back onto your credit card. Whether you’re a seasoned credit card points churner or just looking to test-drive a new rewards card, a strong welcome offer can carry a lot of weight in your decision. 250 or more in value. Even better if the annual fee is waived in the first year.

My top welcome bonus comes from the new American Express Cobalt Card. 500 in purchases. This could add up to 30,000 points in a year. 3,000 in purchases in the first three months. So, new Cobalt Card members can earn a welcome bonus of up to 40,000 Membership Rewards points.

This would really dampen the card's rewards potential. Carefully consider whether you can remember to activate this card's rewards categories every three months. If you'd rather have a simple card with a rewards program that you never have to maintain, consider applying for a fixed-rate cash back card like the Citi® Double Cash Credit Card.

1,500 in combined purchases in bonus categories each quarter you activate (each time you activate). 500 on purchases in your first three months from account opening. Get rewards in the Ultimate Rewards program. Consider this card if you are currently struggling with credit card debt and you'd like to get relief from interest payments. The Chase Slate® offers plenty of ways to get some debt relief.

When you move balances to this card, you'll get a 0% APR for the first 15 billing cycles your account is open. The same 0% rate applies to new purchases as well. Anyone who has had to pay interest on a credit card knows how big of a deal this type of feature is. Credit cards can have high interest rates that make paying down debt extremely costly. Skipping those charges for 15 months can save you hundreds, if not thousands, of dollars.