Traveling across different locations of the world can be expensive for a lot of people. It has been noted that Canadians love to travel around the world; hence, it is no surprise that there are several credit cards in Canada that offer diverse rewards and features.
With these travel credit cards, going on a trip can be more affordable and pleasant for most Canadians, as they tend to save on travels and equally enjoy the different rewards, points, and other benefits like flight, hotels, VIP lounge, and travel insurance.
However, it can be daunting to choose between the various travel credit cards in Canada, especially the ones that suit your travel needs. To help you pick the best travel credit cards for your lifestyle, here is a list of Canada’s best travel credit cards.
The Best Travel Cards
American Express Cobalt Credit Card
With this credit card, you earn up to 30,000 bonus points in your first year, that is, 2500 membership reward points for each monthly billing period when you spend $500 in purchases on your card. Features of the credit card are:
- An annual interest rate of 19.99% on purchases.
- 22.99% interest rate on funds advance.
- 5 points for every $1 spent on Card purchases at eligible restaurants, bars, cafes, and food deliveries.
- 2 points for every $1 spent on eligible transits and gas purchases in Canada and eligible travel purchases.
- 1 point for every $1 on card purchases on concerts, movie tickets, snickers, and everything else.
- Welcome bonus of up to 30,000 points in your first year as a new cobalt card member.
- Up to $100 hotel credits on qualifying hotel amenities are charged to the room, including spa, dining, golf, and other facilities.
- Cobalt cardmembers get access to benefits at over 600 participating hotels and resorts in over 30 countries worldwide.
- Up to $500 flight delay insurance for hotel, motel, restaurant, and other items.
- Emergency card replacement.
Annual Fees: $120 per year (which is charged at $10 monthly).
Eligibility: This credit card is available if you are a Canadian resident with a Canadian credit file and of the age of majority in the province or territory you reside.
American Express Gold Card
With this travel reward credit card, you earn up to 35000 membership reward points after spending $4000 on card purchases in your first three months of card membership. Other features and benefits include:
- 4x Membership Reward points when you dine at restaurants worldwide.
- 4x Membership Rewards points at US supermarkets and up to $25,000 per year in purchases.
- $120 dining credit (up to $10 per month).
- No foreign transaction fees.
- $100 hotel credits to spend on qualifying spa, dining, and resort.
- Access to an additional Card for anyone 13 years old and above.
Annual Fees: $250 per year.
Eligibility: This Credit Card is available to Canadian residents of the age of majority in their province or territory of residence.
Scotiabank Gold American Express Credit Card
With the Scotiabank AMEX, you earn 5 Scotia Rewards Points on every $1 CDN spent on eligible purchases. Equally, you earn 20,000 bonus Scotia Rewards Points with your first $1000 in everyday purchases in the first three months. Other offers of this Credit Card are:
- An annual interest rate of 19.99% on purchases.
- 22.99% annual interest rate on cash advance.
- Minimum credit limit of $5000.
- No foreign transaction fees.
- 5x Scotia Rewards Points for every $1 CDN spent on eligible grocery stores, restaurants, and bars.
- 5 Scotia Rewards Points for every $1 spent on eligible entertainment purchases.
- 3 Scotia Rewards Points for every $1 spent on eligible gas and daily transit – buses, taxis, subways, and more.
- 1 Scotia Rewards point for every $1 spent on every other purchase.
- Access to over 1200 VIP lounges around the world.
- Access to up to 8 types of insurance coverage.
Annual Fees: $120 per year.
TD Aeroplan Visa Infinite Credit Card
The TD Aeroplan Travel Credit Card is one of the best travel credit cards in Canada, as it gives you up to 30,000 Aeroplan Miles, which is equivalent to 2 economy round trip flight rewards. This card requires a good credit score and is not available for Québec residents. Other features of the TD Aeroplan Visa Infinite Credit Card are:
- $5000 minimum credit limit.
- 19.99% standard interest on purchases.
- 22.99% interest on cash advances and balance transfers.
- $50 fees for additional cardholders.
- $60,000 minimum personal income.
- Annual fee rebate for the first year and for the primary cardholder.
- Aeroplan Miles doesn’t expire as long as you are a TD Aeroplan cardholder.
Annual Fees: $120 per year.
Eligibility: This credit card is available if you are a Canadian resident and of the age of majority in the province/territory you reside.
Marriot Bonvoy American Express Credit Card
If you are a fan of Marriott Hotels, this credit card will come in handy for you, as this hotel boasts about 7000 hotels worldwide. This credit card gives you up to a 50,000 welcome bonus and additional points on every purchase. This is equivalent to a 3-night stay at an eligible category 2 hotel and a yearly free hotel stay. Other features of the Marriot Bonvoy American Express Credit Card are:
- 5 points for every $1 in eligible Card purchases at participating Marriot Bonvoy properties.
- 2 points for every 41 in all other card purchases.
- Annual free night award after each year’s anniversary.
- An annual interest rate of 19.99% on purchases.
- 22.99% annual interest rate on funds advances.
- No annual fee on additional cards.
- Redeem points for three nights at over 7000 hotels around the world.
- Transfer points to over 40 airline partners.
Annual Fee: $120 per year.
Eligibility: You can access this credit card if you are a Canadian resident with a Canadian credit file and of the age of majority.
BMO World Elite MasterCard
The Bank of Montreal Travel Credit Card is designed for frequent flyers or travelers. The card comes with 35000 points and a $150 annual fee waiver as a welcome bonus. You also have access to 4 types of insurance coverage. Other features and benefits are:
- 3 BMO reward points for every $1 spent on eligible travel, dining, and entertainment purchases.
- 2 BMO points for every $1 spent on everything else.
- 19.99% annual interest rate on purchases.
- 22.99% annual interest rate for cash advances.
- Additional cardholders of $50 earn you more BMO rewards points.
- $80,000 or $150,000 minimum income is required for individuals or households.
Annual Fee: $150 per year.
Eligibility: This credit card is available to Canadian residents of the age of majority in their province or territory of residence who have not declared bankruptcy in the last 7 years.
Scotiabank Passport Visa Infinite Card
This Scotiabank Credit Card is designed to earn you rewards for spending while traveling across the world. This card does not charge any fee on foreign transactions when purchases are charged in currencies other than the Canadian dollar.
Other features and benefits of the Scotiabank passport visa infinite credit card are:
- Earn up to $1,150 in travel value in the first year.
- 6 free airport lounge visits at $379 value.
- $300 or 30,000 bonus Scotia Rewards Points when you spend $1000 in the first three months.
- 19.99% annual interest on purchases.
- 22.99% annual interest on cash advances.
- 0% foreign transaction fees.
- $50 per year fee waiver on your first additional card.
- 2 Scotia Rewards Points on every $1 spent on eligible groceries, entertainment, and daily transit purchases – buses, taxis, and trains.
- 1 scotia rewards point on every $1 spent on all other eligible purchases.
- Access to over 8 types of insurance coverage.
- $5000 minimum credit limit.
Annual Fee: $139 per year.
Eligibility:
- A minimum annual income of $60,000 or $100,000 for individuals or households, respectively.
- Canadian citizen or permanent resident of the age of majority in your province or territory of residence and have not declared bankruptcy in the last 7 years.
Factors to Consider In Choosing the Best Travel Credit Cards
A lot of people travel for different reasons; hence, it is important to choose a travel credit card that suits your lifestyle, as well as your spending pattern. Here are some important factors to consider in choosing the best travel credit cards in Canada.
- Annual Fees and Charges: It is important to consider the Annual Fees charged on your credit card, especially in relation to the benefits and perks offered by the issuer. There are some credit cards with a low fee but less value, while some charge you huge fees but offer you great values and rewards to justify the fees.
- Signup Bonus: A big signup bonus or reward is unarguably a good reason to pick a new credit card. However, it is important to consider the terms of the bonus. Most cards come with the condition of spending a certain amount in the first few months of opening the account.
- Earnings Rate: Depending on your spending habits, you might want to consider the earnings rate of your card. A flat rate gives you the same points across the board, while some card earns you reward points in specific categories.
- Perks and Value: The benefits and added value of a card can save you lots of money on your trips, such as rental car discounts, airport lounge access, and insurance coverage.
