Canada’s best travel credit cards 2020

Getting 2 points per $1 spent on travel is no joke, either. Travel typically refers to just flights, hotels and vacation packages, but with this card, it also covers gas, public transportation, taxis and Uber trips. For frequent flyers who are always on the move, this reward is twice as much as what you’d earn from the Scotiabank Gold American Express (below) on flights and hotel stays.

Other benefits include access to the Fixed Points Travel Program (which lets you maximize your points on round-trip flights), hotel transfer partners, American Express Invites and a good travel insurance package—but note that it doesn’t include trip cancellation insurance. However, you can add additional authorized cardholders for free.

• Annual fee: $120 ($10 monthly)
• Welcome bonus: 30,000 points (2,500 per month, for 12 months when you charge a minimum of $500 to your card each month). Plus, earn a 10 times the points for every $1 on eligible purchases from Amazon.ca (up to $500) in your first 3 months.
• Earn rate: 5 points per $1 spent on food and drinks; 2 points per $1 spent on travel; 1 point per $1 spent on all other purchases
• Our favourite features: Big points bonuses on dining and groceries; access to the Amex Fixed Points Travel Program; free secondary cardholders
• Additional benefits: American Express Invites and special offers

Get more details about the American Express Cobalt*

Also consider: Scotiabank Gold American Express

This card makes it easy to earn a ton of points on your everyday purchases. In the top tier, groceries, entertainment and dining earn 5 Scotia Rewards points per $1. Gas, public transit and streaming services earn 3 points per $1; and everything else earns 1 point on the $1. This card works in the Scotia Rewards environment, a flexible program that allows cardholders to collect points toward travel, merchandise or even a cash credit on their account. While all these choices are terrific, this card is best known for how it helps Canadians travel. Cardholders can book their travel on any airline either through the Scotia Rewards Travel portal or on a different site where applied points will result in a statement credit. In both cases, 100 points are worth $1 in travel. And there’s no foreign currency conversion fee—this will automatically save you the 2.5% to 3% that most cards automatically charge on purchases abroad. 

The Scotiabank Gold American Express offers travel insurance that covers you for up to 25 days per trip (3 days for seniors), and the card entitles you to access presale concert tickets with American Express Front Of The Line service.

• Annual fee: $120
• Welcome bonus: 25,000 Scotia Rewards points when you charge $1,000 to your card in the first three months
• Earn rate: 5 points per $1 on dining, groceries and entertainment; 3 points per $1 on public transit, gas and selected streaming services; and 1 point per $1 from all other purchases
• Income requirement: $12,000
• Our favourite features: Big points bonuses on dining and groceries; no foreign transaction fees; a flexible points program
• Additional benefits: No foreign transaction fees; American Express Invites; discount on Priority Pass Lounge Access 
• Travel insurance: Coverage includes travel emergency medical trip cancellation/trip interruption; flight delay; delayed and lost baggage; travel accident and more

Best Visa travel cards

TD First Class Travel Visa Infinite Card*

If you’re looking for a travel credit card with the Visa badge on it and want a rewards program that’s extremely easy to understand and flexible, consider the TD First Class Visa Infinite.

With the TD First Class Travel Visa Infinite, you’ll get 3 TD Rewards points for every $1 you spend on everyday purchases. Even better, you get 9 points on the dollar when booking your travel on ExpediaforTD.com.

You can redeem TD points for a huge range of travel rewards from Expedia for TD from its hundreds of airline, hotel, resort and car rental agencies, all available on Canada’s largest travel platform. TD points values are easy to calculate and don’t fluctuate depending on the destination or time of you’re travelling. And 1 TD point always equals $0.05 when redeemed for travel at the ExpediaforTD site.

With the current welcome bonus, you can get up to 60,000 bonus points. Plus, the annual fee of $120 is rebated for the first year as part of the current promotion. Note that TD clients with an All-Inclusive account may also get their annual fee waived for this card on an ongoing basis.

• Annual fee: $139 (rebated for the first year, or as long as you have a TD All=Inclusive Account)
• Welcome bonus: 10,000 Aeroplan points and an Air Canada Buddy Pass
• Earn rate: 1.5 Aeroplan points per $1 spent on gas and groceries; 1 Aeroplan point per $1 spent on everything else
• Our favourite features: Free checked bags on Air Canada and the Buddy Pass
• Income requirement: $60,000 or $100,000 as a household

Also consider: BMO eclipse Visa Infinite*

The BMO eclipse Visa Infinite Card is the first Visa card offered by BMO, and it doesn’t disappoint, especially if you spend big on food and transit 

The earn rate is 5 BMO Rewards points per $1 spent on groceries, dining, gas, public transit, taxis and ride shares when using your card. You’ll earn 1 BMO Rewards point per $1 spent on all other purchases. It’s worth noting that 1 BMO point is worth $0.0071 when redeemed for travel. That means you’re getting an effective earn rate of 3.5% back in points on dining, groceries, gas and transit spending, while all other purchases only earn you 0.7% back. BMO Rewards points are quite flexible since you can book just about any type of travel through the BMO Rewards travel portal. Plus, every January, you receive a $50 lifestyle credit, which is a nice touch.

The welcome bonus is broken up into two parts: One, you get 25,000 BMO Rewards points when you charge $3,000 to your card within three months opening your credit card account; and two, you get an additional 15,000 BMO Rewards points on your card anniversary date.

• Annual fee: $120 (waived for the first year)
• Welcome bonus: 25,000 BMO Rewards points + 15,000 additional points on your anniversary date
• Earn rate: 5 BMO Rewards points per $1 spent on dining, groceries, gas and transit. 1 BMO Rewards point per $1 spent on anything else
• Our favourite features: High earn rate and the lifestyle credit
• Additional benefits: Mobile device insurance, purchase security, extended warranty
• Income requirement: $60,000 or $100,000 as a household

Get more details about the BMO eclipse Visa Infinite*

Best Mastercard

BMO World Elite Mastercard*

Right now, this card comes with a sign-up bonus of 35,000 points when you charge $3,000 to your card in the first three months of card membership. Those points have a value of $250, which is quite generous.

Another appealing aspect of the BMO World Elite Mastercard* is that the annual fee is waived for the first year. Normally, you would pay $150 for that fee, so in essence, your sign-up bonus in the first year is worth up to $400.

The four free annual airport lounge passes are good at any over 1,000 lounges that part of the Mastercard Airport Experiences by LoungeKey network, which is basically the same as having a Priority Pass. Furthermore, Mastercard is more widely accepted than some of the other card providers. You can use it to shop at stores like No Frills and Costco. 

• Annual fee: $150 (first year free)
• Welcome bonus: 35,000 points when you charge $3,000 to you card in the first 3 months
• Earn rate: 3 points per $1 spent on travel, dining and entertainment; 2 points per $1 spent on all other purchases
• Income requirement:$80,000 (personal) or $150,000 (household)
• Our favourite features: Airport lounge access with 4 free annual passes; earn at least 1.4% in travel rewards on every purchase
• Travel insurance: BMO World Elite total travel and medical protection, which includes car rental collision damage and out-of-country medical expenses up to $2 million for trips up to 21 days in length.
• Additional benefits: Purchase protection and extended warranty; discount on admission to Cirque du Soleil shows
• Income requirement: $80,000 or $150,000 as a household

Get more details about the BMO World Elite Mastercard*

Best airline credit cards

For Air Canada: TD Aeroplan Visa Infinite*

The new Aeroplan launched November 2020, and with it came new benefits for the Aeroplan branded credit cards. The TD Aeroplan Visa Infinite comes with a welcome bonus of 10,000 Aeroplan points and an Air Canada Buddy Pass when you charge $1,000 to your card in the first 90 days. That Buddy Pass—effectively a companion ticket—is good for a roundtrip second economy ticket anywhere within North America, including Hawaii and Mexico, with no blackout dates. 

The earn rate is 1.5 Aeroplan points per $1 spent on gas and groceries. All other purchases earn you 1 Aeroplan point per $1 spent. In addition, the primary cardholder and travelling companions on the same itinerary (up to nine people total) get their first bag checked free on Air Canada flights. You’ll also receive preferred pricing and can often book Air Canada flights using fewer points.

Aeroplan has changed its rewards program so that now every seat can be available for redemption with no seat restrictions or carrier surcharges. You’ll also have the ability to add stopovers on each one-way flight (excluding the U.S. and Canada) for a nominal 5,000 points—further boosting your points values.  While this makes it easier to redeem your Aeroplan points, figuring out the points values, well, isn’t as simple. You’ll need to consult Aeroplan’s dynamic redemption chart, as the number of points required for a free flight depends on dates and destination. 

In addition, the insurance suite has been enhanced and now includes mobile device insurance and better travel insurance. For travel medical insurance, TD Aeroplan Visa Infinite gives you $1 million in coverage for 21 days, if you’re 64 and under. Those 65 and older only get four days.

• Annual fee: $139, rebated for the first year
• Welcome bonus: 10,000 Aeroplan points and an Air Canada Buddy Pass
• Earn rate: 1.5 Aeroplan points per $1 spent on gas and groceries. 1 Aeroplan point per $1 spent on everything else
• Our favourite features: Free checked bags on Air Canada and the Buddy Pass
• Additional benefits: Travel insurance, mobile device insurance, $100 Nexus rebate
• Income requirement: $60,000 or $100,000 as a household

Get more details about the TD Aeroplan Visa Infinite*

For WestJet: WestJet RBC World Elite Mastercard 

Anyone who flies WestJet regularly needs to have this card. It gives free checked bags for the primary cardholder and any travelling companions on the same itinerary up to eight people. Considering the cost of a checked bag starts at $25 each way, you can save quite a bit just by having this card. The welcome bonus is usually $250 in West Jet Dollars after your first purchase, but they often have promos where you’ll get $350.

The earn rate is 2% back in WestJet Dollars on WestJet flights and WestJet Vacations packages. And, 1.5% back on all other purchases. That’s an OK earn rate but not stellar. Since you’re earning WestJet Dollars as opposed to getting actual cash back, you’re limited to WestJet purchases when redeeming your rewards.

That standout feature of the WestJet RBC World Elite Mastercard is the annual companion voucher that starts at $119. When the primary cardholder purchases a full fare round-trip ticket from WestJet, they can use a companion voucher to purchase another ticket at a discount. That second ticket would cost you $119 plus tax and third-party fees to fly anywhere within Canada and the continental U.S., or $399 plus tax and third-party fees for travel to the rest of the WestJet network.

• Annual fee: $119
• Welcome bonus: $250 WestJet Dollars, plus another $100 when you make your first purchase in the first three months (limited time, regular offer is $250)
• Earn rate: 2% back in WestJet dollars on WestJet flights and WestJet Vacations packages. 1.5% back on all other purchases
• Our favourite features: Companion voucher and free checked bags
• Additional benefits: Some travel insurance, purchase security, extended warranty 
• Income requirement: $80,000 or $150,000 as a household

Best points card with no foreign transaction fees

Scotiabank Passport Visa Infinite Card

Instead of focusing on the best sign-up bonus or the highest earn rate, some travellers prefer a credit card they can think of as a kind of partner on their journeys. That’s where the Scotiabank Passport Visa Infinite Card comes into play: It was clearly designed for world travellers.

The card comes with no foreign transaction fees, so you’re saving money whenever you make a purchase in a foreign currency. You also get six free airport lounge passes each year, travel insurance and a sign-up bonus currently worth $300. This card is a great option for people who want just one credit card they can use at home and abroad without many worries, while taking advantage of the variety of travel benefits included. Another bonus: Visa card users can be assured of wide acceptance, wherever they are in the world.

• Annual fee: $139
• Welcome bonus: 35,000 points when you charge $1,000 to you card in the first year
• Earn rate: 2 points per $1 spent on grocery stores, dining, entertainment and transit purchases; 1 point per $1 spent on all other purchases
• Income requirement:$60,000 (personal) or $100,000 (household)
• Our favourite features: No foreign transaction fees; airport lounge access with 6 free annual passes
• Travel insurance: Travel emergency medical insurance (under age 65 for up to 25 consecutive days, and for eligible persons age 65 and older for up to 10 days); trip cancellation/trip interruption; flight delay; delayed and lost baggage; travel accident; rental car collision loss/damage; and hotel/motel burglary insurance
• Income requirement: $60,000 or $100,000 as a household

Best flat rate travel card

MBNA Rewards World Elite Mastercard*

For those who want reliable, flexible rewards from their travel card, but crave simplicity, too, the MBNA Rewards World Elite is worth a look. You’ll earn 2 points per $1 on everything—no need to be strategic with your spending or think about bonus categories. And because it’s a Mastercard that earns twice the reward points of most other travel cards, and earns them across the board, it’s arguably one of the best options for Costco shoppers. New cardholders get a kickstart to the tune of 20,000 bonus points if you spend at least $2,000 within the first 90 days; that’s a value of up to $200, depending on how you choose to redeem, and if you’re saving up for something big, you can relax knowing that points don’t expire. (You can boost your points-earning potential by adding up to nine authorized card users in your household or family at no additional cost.)

Redemption is flexible, too: 1,000 points equals $1 in travel rewards (or 1% return). You can also choose to trade your reward points for a wide variety of gift card options (including some e-gift cards that allow you to avoid the shipping costs associated with receiving a physical card). Here, too, the rate of return is impressive at 0.9 cents per point; most other travel cards don’t offer such great value on gift-card redemptions.

So, what’s not to like? Compared to competitors’ offerings, this card under-delivers on its provided travel insurance. You’ll get lost document and ticket replacement, lost luggage and legal assistance, but there’s no travel medical insurance included. 

• Annual fee: $120
• Welcome bonus: Receive 20,000 points by spending $2,000 with the card within the first 90 days  
• Earn rate: 2 points per $1 spent on eligible purchases 
• Our favourite features: Earn points at a simple, but generous, flat rate; flexible redemption, with better-than-average value on gift card redemptions
• Additional benefits: Car rental insurance, and discounts at Avis Rent A Car and Budget Rent A Car; cardholders enjoy double the written warranty coverage on most purchases
• Income requirement: $80,000 or $150,000 as a household

Get more details about the MBNA Rewards World Elite*

Best hotel credit card

Marriott Bonvoy American Express

When Marriott merged their loyalty program with Starwood Preferred Guest (SPG) and Ritz-Carlton Rewards, consumers had a lot of questions and concerns. The good news is the deal is done and the resulting program—and the attached credit card—easily earns a spot in this best-of travel list. It’s tough to know just where to start with the benefits of the Marriott Bonvoy American Express. For many, it’s the massive 50,000-point welcome bonus—a gift large enough to get you three nights at eligible hotels, and that’s in addition to the one free hotel stay each year every member receives. 

While the welcome bonuses and free nights are strong incentives in and of themselves, the Marriott Bonvoy American Express offers a multiplier of up to 5x the points per $1 on spends at Marriott Bonvoy properties, and 1 point per $1 on everything else. Frequent travellers will find it’s easy to earn, and the points themselves are spectacularly flexible. Coming from the rewards program of world’s largest hotel conglomerate, Marriott Bonvoy points can be redeemed for free hotel stays at more than 7,000 hotels worldwide including at Marriott, Delta, Ritz-Carlton, Courtyard properties and more. Additionally, you can transfer your points to more than 40 airline programs, including Aeroplan. 

The card’s insurance package is quite strong, including $500,000 in travel accident coverage, car rental theft and damage protection and hotel/motel burglary insurance—but do be aware that it lacks travel emergency medical coverage. Overall, this is a very strong card for frequent travellers looking to maximize loyalty perks on their hotel stays. 

• Annual fee: $120
• Welcome bonus: 50,000 points—enough for 3 free nights at eligible hotels
• Earn rate: Earn up to 5x the points per $1 when you spend at Marriott properties; 1 point per $1 on everything else
• Income requirement: None specified
• Our favourite features: Marriott Bonvoy is the world’s largest hotel program and covers 7,000 hotel properties worldwide; cardholders have the ability to transfer points to over 40 airlines
• Travel insurance: $500,000 in travel accident coverage; flight and baggage delay protection; car rental theft and damage protection; hotel/motel burglary insurance

Best card for travel insurance

National Bank World Elite Mastercard*

As one of the most valuable—and potentially life-saving—perks in a travel credit card, insurance is a highly competitive part of any package. The National Bank World Elite Mastercard gets our nod for two main reasons: they offer a higher than average coverage amount and they offer an excellent package for people over 65 years. 

Cardholders of the National Bank World Elite Mastercard have included trip cancellation (up to $2,500 per person), trip interruption (up to $5,000 per person), flight delay (up to $500 per person over 4 hours), and insurance against baggage theft, loss or delay. Additionally, there’s up to $5,000,000 in out-of-province-of-residence medical or hospital insurance—for 60 days for folks under 54 years old, 31 days for those between 55 and 64, and 15 days for travellers aged 65 to 75. 

This insurance package is outstanding on its own, but coupled with extra perks like VIP lounge access at the Montreal airport, travel rebates and overall travel assistance, the National Bank World Elite Mastercard is setting itself up to be an excellent all-around travel card.

• Annual fee: $150
• Earn rate: $0 to $40,000 in purchases earn 1.5 points per $1; $40,001 to $80,000 earn 2 points per $1; and $80,001 and above earns 1.5 points per $1
• Income requirement:$80,000 (personal) or $150,000 (household)
• Additional benefits: In addition to the insurance coverage outlined above, VIP access at the National Bank Lounge at Montréal-Trudeau Airport; refund of up to $250 per year on seat selection, airport parking and baggage fees; vehicle rental insurance; medical, general and legal assistance
• Travel Insurance: Travel, trip cancellation/interruption coverage; baggage loss and car rental insurance; out-of-province medical coverage up to $5 million
• Income requirement: $80,000 or $150,000 as a household

Get more details about the National Bank World Elite*

More about credit cards

• Best credit cards in Canada
• Best rewards credit cards
• Best cash back credit cards
• Best no fee credit cards
• Best low interest credit cards
• Best balance transfer credit cards
• Best student credit cards

Our methodology

For the best travel credit cards of 2020 ranking, MoneySense tapped into Ratehub.ca’s‡ credit card tool and ran the numbers for travel point cards based on $2,000 in monthly spending. We used the following scenario: $500 on groceries, $200 on gas, $200 on restaurants, $125 on bill payments, $175 on travel, $225 on entertainment, $75 on pharmacy purchases and $500 on everything else.

The annual net reward in dollar terms was then used to identify the top travel cards for each type of spender, as well as an honorary mention. Our methodology also took into consideration other factors, including welcome offers, the range of spending bonus categories, annual fee waivers, loyalty program flexibility and travel insurance perks.

‡MoneySense.ca and Ratehub.ca are both owned by parent company Ratehub Inc. We may be partnered with some financial institutions, but this does not influence the “Canada’s Best Credit Card” rankings. You can read more about this in our Editorial Code of Conduct.