7 Best Travel Credit Cards in Canada

Find out these Best Travel Credit Cards in Canada

Traveling is a thrilling experience, and having the right travel credit card can significantly enhance your journey. Travel credit cards offer a myriad of benefits, from earning points on everyday purchases to enjoying exclusive travel perks such as lounge access and travel insurance. In this comprehensive guide, we will explore the best travel credit cards in Canada, helping you make an informed decision that aligns with your travel habits and financial goals.

Why Choose a Travel Credit Card?

Earn Travel Rewards

One of the primary attractions of travel credit cards is the ability to earn travel rewards. These rewards typically come in the form of points or miles, which can be redeemed for flights, hotel stays, car rentals, and other travel-related expenses. By using a travel credit card for everyday purchases, you can accumulate points that can significantly reduce your travel costs.

Travel Insurance

Many travel credit cards come with built-in travel insurance, covering everything from trip cancellation to lost luggage. This can provide peace of mind and save you money on separate insurance policies. Comprehensive travel insurance is especially valuable for international travelers, offering protection against unexpected events.

Airport Lounge Access

Premium travel credit cards often provide access to airport lounges, where you can relax in comfort before your flight. These lounges usually offer complimentary food, drinks, Wi-Fi, and other amenities. Lounge access can make a significant difference in your travel experience, especially during long layovers or delays.

No Foreign Transaction Fees

Foreign transaction fees can add up quickly when traveling abroad. Many travel credit cards waive these fees, allowing you to use your card internationally without incurring extra charges. This benefit can save you a substantial amount of money on your travels.

Exclusive Travel Perks

From priority boarding to hotel upgrades, travel credit cards often come with exclusive perks that can make your travels more enjoyable and stress-free. These perks can add significant value to your travel experience, providing conveniences and luxury that you might not otherwise afford.

Best Travel Credit Cards in Canada

1. American Express Cobalt Card

The American Express Cobalt Card is widely regarded as one of the best travel credit cards in Canada, offering a generous rewards program and a range of travel perks.

Key Features

• Rewards Program: Earn 5 points per dollar spent on eligible dining and groceries, 2 points per dollar spent on travel and transit, and 1 point per dollar on everything else. This tiered earning structure makes it easy to accumulate points quickly.
• Welcome Bonus: Up to 30,000 points in the first year if you meet the monthly spending requirements.
• Travel Insurance: Comprehensive travel insurance, including emergency medical, trip cancellation, and baggage insurance. This robust coverage ensures you are protected during your travels.
• Annual Fee: $12.99 per month ($155.88 annually).

2. Scotiabank Gold American Express Card

The Scotiabank Gold American Express Card is another top choice for Canadian travelers, offering a robust rewards program and excellent travel benefits.

Key Features

• Rewards Program: Earn 5 points per dollar spent on groceries, dining, and entertainment, 3 points on gas and transit, and 1 point on everything else. This makes it a great card for everyday use.
• Welcome Bonus: Up to 50,000 points in the first year if you meet the spending criteria.
• No Foreign Transaction Fees: Save on foreign transaction fees when traveling abroad, a feature that makes international travel more affordable.
• Travel Insurance: Includes emergency medical, trip interruption, and travel accident insurance, providing comprehensive coverage for peace of mind.
• Annual Fee: $120.

3. TD First Class Travel Visa Infinite Card

The TD First Class Travel Visa Infinite Card is ideal for those who prefer flexibility in redeeming their travel rewards. It offers a straightforward points system and excellent travel perks.

Key Features

• Rewards Program: Earn 3 points per dollar spent on travel purchases through ExpediaForTD.com and 1.5 points per dollar on all other purchases. This flexible earning structure caters to various spending habits.
• Welcome Bonus: Up to 80,000 points in the first year, provided you meet the spending requirements.
• Travel Insurance: Comprehensive coverage, including travel medical, trip cancellation, and baggage delay insurance, ensuring you are well-protected.
• Annual Fee: $120 (first year rebated).

4. RBC Avion Visa Infinite Card

The RBC Avion Visa Infinite Card is known for its flexible rewards program and extensive travel insurance coverage. It’s a great choice for frequent flyers.

Key Features

• Rewards Program: Earn 1 point per dollar spent on all purchases, with the ability to earn bonus points through the Avion Rewards program. This straightforward earning system makes it easy to accumulate points.
• Welcome Bonus: Up to 35,000 points in the first year if you meet the initial spending requirements.
• Travel Insurance: Includes emergency medical, trip cancellation, trip interruption, and more, offering extensive protection.
• Annual Fee: $120.

5. BMO World Elite Mastercard

The BMO World Elite Mastercard is packed with travel benefits, including airport lounge access and a strong rewards program.

Key Features

• Rewards Program: Earn 3 points per dollar spent on travel, dining, and entertainment, and 2 points on all other purchases. This makes it a versatile card for earning rewards.
• Welcome Bonus: Up to 40,000 points in the first year, provided you meet the spending criteria.
• Airport Lounge Access: Complimentary membership to Mastercard Airport Experiences provided by LoungeKey, including four annual passes. This perk can significantly enhance your airport experience.
• Travel Insurance: Comprehensive travel insurance, including out-of-province emergency medical and trip cancellation, ensuring you are covered during your travels.
• Annual Fee: $150 (first year free).

6. American Express Platinum Card

The American Express Platinum Card is a premium option that offers exceptional travel benefits and luxury perks.

Key Features

• Rewards Program: Earn 3 points per dollar spent on dining and 2 points per dollar on travel purchases, and 1 point on everything else. This allows for rapid accumulation of points.
• Welcome Bonus: Up to 60,000 points in the first year if you meet the spending requirements.
• Airport Lounge Access: Access to over 1,200 airport lounges worldwide through the American Express Global Lounge Collection. This extensive network of lounges provides comfort and convenience.
• Travel Insurance: Comprehensive travel insurance, including emergency medical, trip cancellation, and lost baggage insurance, providing extensive coverage.
• Annual Fee: $699.

7. CIBC Aventura Visa Infinite Card

The CIBC Aventura Visa Infinite Card offers a flexible rewards program and several travel benefits.

Key Features

• Rewards Program: Earn 2 points per dollar spent on travel purchased through the CIBC Rewards Centre, 1.5 points on gas, groceries, and drugstores, and 1 point on everything else. This tiered earning structure caters to various spending habits.
• Welcome Bonus: Up to 20,000 points in the first year if you meet the initial spending requirements.
• Travel Insurance: Includes emergency medical, trip cancellation, and trip interruption insurance, ensuring comprehensive coverage.
• Annual Fee: $120 (first year rebated).

How to Choose the Best Travel Credit Card

Choosing the best travel credit card depends on your travel habits, spending patterns, and the specific benefits you value most. Here are some factors to consider:

Rewards Program

Consider how you earn and redeem rewards. Some cards offer higher points on travel-related purchases, while others may provide more points for dining or groceries. Look for a rewards program that aligns with your spending habits. For example, if you dine out frequently, a card that offers bonus points on dining would be advantageous.

Welcome Bonus

A generous welcome bonus can give you a substantial boost in points or miles, helping you earn free travel faster. Pay attention to the spending requirements to ensure you can meet them without straining your finances. Welcome bonuses are often the quickest way to accumulate a significant number of points.

Annual Fee

While some travel credit cards come with high annual fees, the benefits often outweigh the cost. However, if you prefer a no-fee option, there are still excellent cards available with valuable rewards. Consider whether the annual fee is justified by the perks and rewards offered by the card.

Travel Insurance

Having comprehensive travel insurance can save you money and provide peace of mind. Compare the insurance coverage offered by different cards to find one that meets your needs. Some cards offer extensive coverage, including emergency medical, trip cancellation, and baggage delay insurance.

Additional Perks

Consider the additional perks that come with the card, such as airport lounge access, no foreign transaction fees, and exclusive travel offers. These perks can enhance your travel experience and provide added value. For example, if you frequently travel internationally, a card with no foreign transaction fees would be beneficial.

Credit Score Requirements

Ensure you meet the credit score requirements for the card you’re interested in. Premium travel credit cards typically require a good to excellent credit score. Knowing your credit score can help you identify which cards you are likely to be approved for.

Remember These Tips for Maximizing Your Travel Credit Card Benefits

To make the most of your travel credit card, follow these tips:

Use Your Card for Everyday Purchases

Maximize your rewards by using your travel credit card for everyday purchases. This helps you accumulate points faster, bringing you closer to free travel. For instance, if your card offers bonus points on groceries and dining, make sure to use it for those purchases.