The best travel credit cards in Canada for 2023
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Canada’s best travel credit cards
A good travel credit card can make your trip more affordable, more comfortable and even more secure. There are numerous cards to choose from, but you can get the best value by selecting one that pairs a strong earn rate for rewards or cash back along with perks like lounge access, travel credits or rebates, superior insurance coverage and the flexibility to transfer points between cards. Ultimately, choose your card based how you like to travel, your spending and credit card habits and travel perks that fit your lifestyle. To help you pick the perfect card, we’ve come up with a list of Canada’s best travel credit cards.
Our picks for the 11 best travel credit cards in Canada
| Category | Travel credit card |
|---|---|
| Best travel rewards card | American Express Cobalt |
| Best no-fee card for travel | MBNA Rewards Platinum Plus Mastercard |
| Best Visa credit card for travel | TD First Class Travel Visa Infinite Card |
| Best Mastercard for travel | BMO Ascend World Elite Mastercard |
| Best for Air Canada | TD Aeroplan Visa Infinite |
| Best for WestJet | WestJet RBC World Elite Mastercard |
| Best for no foreign transaction fees | Scotiabank Passport Visa Infinite |
| Best hotel credit card | Marriott Bonvoy American Express |
| Best for travel insurance | National Bank World Elite Mastercard |
| Best no-fee card for travel insurance | Rogers World Elite Mastercard |
| Best for earning Air Miles | BMO Air Miles World Elite Mastercard |
Best travel rewards credit cards
American Express Cobalt*
At a glance: American Express Cobalt offers competitive earn rates across the board, but its most interesting feature is just how broad its spending categories are. Cardholders can take advantage of accelerated rates on more of their purchases. Strong travel insurance, new mobile device insurance, and partner perks like bonuses when booking with The Hotel Collection make this a travel card worth considering.
- Annual fee: $156
- Earn rate: 5 points per $1 spent on food and drinks, 3 points on streaming services, 2 points on travel and transit, and 1 point on everything else. Earn an additional point for hotel bookings and car rentals when using Amex Travel Online.
- Point value: 1 point is worth $0.01 in travel rewards with the Flexible Points Program. You can also transfer your points to other travel rewards programs, such as Aeroplan, at a 1:1 points value ratio. Membership rewards points are worth $0.04 to $0.07 in gift cards and merchandise and $0.07 when used toward a statement credit.
- Welcome offer: You can earn 2,500 points for each month you spend $500, up to a maximum of 30,000 points.
- Annual income requirements: None
- New members can earn up to 30,000 membership rewards points in the first year.
- Outstanding 5 points per $1 earn rate on food and drinks applies to grocery stores, bars and food delivery services, as well as restaurants.
- The travel spending category is as expansive and includes flights, hotels and vacations, as well as gas, public transportation, taxis and rideshare.
- Includes a robust travel insurance package with up to $5,000,000 in emergency medical expenses.
- Travel insurance package does not cover trip cancellation.
- Although it’s billed monthly rather than annually, this card’s annual fee comes out to $155.88, which is slightly higher than other similar cards.
- As an American Express card, this card is less widely accepted than Mastercard or Visa.
- Interest rates: 20.99% on purchases, 21.99% on cash advances
- Travel perks: Travel insurance, including up to $5,000,000 in emergency medical expenses and $250,000 in travel accident, flight and baggage delay, lost or stolen baggage, hotel burglary, and car rental theft or damage coverage; ability to transfer points to several frequent flyer and other loyalty programs at a rate of one to one; access to the Amex Fixed Points Travel program, which lets you maximize your points on round-trip flights; benefits like hotel credits and room upgrades when you book with The Hotel Collection
Also consider: Scotiabank Gold American Express*
At a glance: Its earn rate structure has undergone some major changes in 2022, thanks to Scotiabank and Cineplex’s new partnership with Sobeys. That makes this popular travel rewards card even more lucrative for Canadians who shop at Sobeys and its related stores. And the addition of mobile device insurance is a welcomed update.
- Annual fee: $120 (waived for the first year)
- Earn rate: 6 Scene+ points for each $1 spent at Sobeys partner stores; 5 points for purchases at other grocery stores and on dining and entertainment; 3 points on gas, public transit, and select streaming services; 1 point on everything else
- Point value: 1 Scene+ point is worth $0.01 for travel, purchases at affiliated grocery, liquor and drug stores, and food and drink at Cineplex and Scene partners. Points are worth slightly less when redeeming for movie tickets, gift cards, statement credits and some merchandise.
- Welcome offer: You can earn up to $650 in value in the first 12 months, including up to 40,000 bonus Scene+ points. Must apply by October 31, 2023.
- Annual income requirements: Personal income of $12,000
- This card already had a good accelerated points program, but with the new partnership with Sobeys, cardholders can now earn 6 Scene+ points for each $1 spent at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.
- Cardholders can still earn big with an accelerated rate of 5X on other groceries, restaurants, food delivery boxes, and entertainment, and 3X on gas, transportation and streaming services like Netflix.
- Up to $1,000 in new mobile device insurance is now included when you buy your device using the card.
- When you make a purchase in a foreign currency, including when shopping online and when travelling abroad, you don’t pay the 2.5% foreign transaction fee. Only the exchange rate applies.
- There is a cap on the purchases eligible to earn the accelerated 6X, 5X and 3X earn rates. These rates apply to the first $50,000 in purchases annually; after that, you earn 1X the points.
- As an American Express card, this card is less widely accepted than Mastercard or Visa.
- Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
- Travel perks: Includes a travel insurance package with travel emergency medical, trip cancellation and trip interruption, flight delay, delayed and lost luggage, and common carrier travel accident protection; plus, rental car collision and loss damage, and hotel and motel burglary coverage; ability to book with any airline; access to the Scotia Rewards Travel portal; no foreign currency conversion fee
Best no fee card for travel
MBNA Rewards Platinum Plus Mastercard*
At a glance: This card lets you earn MBNA rewards, which you can redeem for travel at a rate of 100 points per $1, and can be used on any airline. A no-fee card, the MBNA Rewards Platinum Plus Mastercard will appeal to Canadians who don’t want to pay to earn rewards. But the relative lack in extras like travel insurance means it falls short of a full-service credit card. A robust welcome offer makes for a tempting offer.
- Annual fee: $0
- Earn rate: Earn 4 points on every $1 spent on restaurants, grocery, digital media, membership and household utilities during the first 90 days. After that, earn 2 points for every $1 spent on restaurant, grocery, digital media, membership and household utility purchases, and 1 point on everything else
- Point value: 1 MBNA Rewards point is worth $0.01 in eligible travel purchases, while brand-name merchandise, gift cards, cash back and charitable donations are worth $0.005 in redemption value.
- Welcome offer: You can earn 10,000 bonus points ($50 in cash back value) (Not available for residents of Quebec.)
- Annual income requirements: None
- Get up to 10,000 bonus points (worth $50) as part of the welcome offer.
- Earn travel rewards without paying an annual fee.
- Receive up to 10,000 birthday bonus points annually.
- Includes up to $1,000 in new mobile device coverage for loss, theft, accidental damage or mechanical breakdown.
- Rewards are capped annually at a maximum of $5,000 per category. Spends beyond that earn at the base rate of 1 point per $1 spent.
- Does not include travel emergency medical insurance.
- Interest rates: 19.99% on purchases, 24.99% on cash advances, 22.99% on balance transfers
- Travel perks: Redeem 100 points for $1 in travel; use MBNA points to book travel on any airline; save with Avis and Budget rentals.
Best Visa credit card for travel
TD First Class Travel Visa Infinite Card*
At a glance: When used in concert with the Expedia for TD site, the TD First Class Travel Visa Infinite card can help you rack up major travel points that can be redeemed simply and easily for a wide range of travel rewards. This program keeps it simple with no blackout dates, no seat restrictions and no expiry for your points.
- Annual fee: $139 (first year annual fee rebate, conditions apply)
- Earn rate: 8 points per $1 for flights booked online through Expedia For TD and charged to your account; 6 Points per $1 on groceries & restaurants; 4 points per $1 spent on recurring bills; 2 points per $1 spent on everything else
- Point value: 1 TD Rewards point is worth $0.005 in travel rewards booked via Expedia For TD, or $0.004 when booked through other travel providers and websites. Points are worth slightly less when used on merchandise, statement credits, purchases on Amazon.ca and gift cards.
- Welcome offer: You can earn up to 115,000 TD Rewards points. Conditions apply. Account must be approved by January 3, 2024. Plus, get an annual birthday bonus of 10% of your previous year’s points (up to 10,000 points).
- Annual income requirements: Personal income of $60,000 or household income of $100,000
- With the welcome offer, earn up to 115,000 TD Rewards points. Conditions apply. Account must be approved by January 3, 2024. and get a first year annual fee rebate.
- You can use the Expedia for TD site to book a huge range of travel products like flights, hotels, car rentals and vacations with access to everything Expedia offers.
- No blackout dates or seat restrictions, and points never expire.
- Includes travel insurance and a discount on Priority Pass membership.
- The minimum personal income requirement of $60,000 (or $100,000 for the household) isn’t accessible to everyone.
- While travel spending is incentivized, other common spending categories like groceries and gas earn at high rates.
- Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
- Travel perks: Access to Expedia for TD site; travel insurance including travel medical, trip cancellation or interruption, travel accident and car rental loss or collision; Priority Pass membership discount; savings with Avis and Budget car rentals
Also consider: BMO eclipse Visa Infinite*
At a glance: The BMO eclipse Visa Infinite offers a high 5X earn rate on dining, groceries and travel which works out to a return of 3.5% back in points in those categories. The annual $50 “lifestyle credit” offsets the $120 annual fee.
- Annual fee: $120 (waived for the first year)
- Earn rate: 5 BMO Rewards points per $1 spent on dining, groceries, gas and transit; 1 point per on everything else
- Point value: 1 BMO Rewards point is worth $0.067 in value for travel redemptions and purchasing investments with BMO. The travel redemption value is slightly lower for BMO Rewards, but with BMO, you’re not limited to booking through its website or with certain airlines. Within 90 days of the transaction you can redeem your points towards a statement credit for the travel purchase.
- Welcome offer: You can earn up to 70,000 points ($467 value), 5 times the points on gas, dining, groceries and transit for the first year, and 10% more points when you add an authorized user. Also, earn a $50 lifestyle credit.
- Annual income requirements: Personal income of $60,000 or household income of $100,000
- With the welcome offer, you can earn up to 70,000 points (worth $467 in travel rewards), and the $120 annual fee waived in the first year.
- Every January, receive a $50 “lifestyle credit” to be used as you wish.
- Includes up to $1,000 in new mobile device insurance.
- The travel insurance package is limited and doesn’t include flight cancellation or delay, baggage loss or damage, travel emergency medical or hotel burglary protection.
- The accelerated earn rate is only available for a handful of spending categories.
- Interest rates: 20.99% on purchases, 23.99% on cash advances (21.99% for Quebec residents), 23.99% on balance transfers
- Travel perks: $500,000 of travel accident insurance; car rental theft and damage protection; access to Visa Infinite perks
Best Mastercard credit card for travel
BMO Ascend World Elite Mastercard*
At a glance: With a tempting welcome bonus and strong earn rates on travel, the BMO Ascend World Elite Mastercard offers opportunity to those looking for a travel Mastercard. Perks like Mastercard Travel Pass and BMO Concierge are nice extras.
- Annual fee: $150 (waived for the first year)
- Earn rate: 5 points per $1 on travel, 3 points per $1 on dining and entertainment, 1 point per $1 on everything else
- Point value: 1 BMO Rewards point is worth $0.067 in value for travel redemptions and purchasing investments with BMO. The travel redemption value is slightly lower for BMO Rewards, but with BMO, you’re not limited to booking through its website or with certain airlines. Within 90 days of the transaction you can redeem your points towards a statement credit for the travel purchase.
- Welcome offer: You can earn up to 70,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.
- Annual income requirements: Personal income of $80,000 or household income of $150,000
- With the welcome bonus for new cardholders, you can earn up to 70,000 points and get the annual fee waived in the first year for you and additional users.
- Includes travel and medical insurance.
- Includes four complimentary airport lounge passes annually.
- Accelerated points available only in select categories.
- Minimum income requirement will put this card out of reach for some.
- Interest rates: 20.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers
- Travel perks: Includes BMO World Elite travel and medical protection; Mastercard Travel Pass provided by DragonPass, with four annual complimentary passes; BMO concierge service
Also consider: National Bank World Elite Mastercard*
At a glance: The National Bank World Elite Mastercard is most notable for its comprehensive travel and medical insurance that covers most events and, unlike many plans, extends to travellers over the age of 65. The annual travel refund and unlimited access to the lounge at Montreal’s Trudeau Airport make this a card to consider.
- Annual fee: $150 (waived for the first year)
- Earn rate: 5 points per $1 on groceries and restaurants; 2 points on gas and electric vehicle charging, recurring payments, and National Bank of Canada’s À la carte Travel program; 1 point on everything else
- Point value: 1 point is worth $0.01 when redeeming for travel purchases like flights and hotels using the À la carte Travel Agency. Cardholders can also get discounts on travel bookings made outside of the platform, and each point is worth up to $0.009 in discounts—redemption values are higher when you are using a greater number of points. You can also redeem points to pay off your credit card balance, and each point is worth $0.04 for this..
- Welcome offer: This card does not have a welcome bonus at this time.
- Annual income requirements: Personal income of $80,000 or household income of $150,000
- Includes an extraordinary travel and medical insurance package that covers most travellers, even those over the age of 65
- Receive an annual refund of up to $150 on travel expenses
- Includes up to $1,000 in new mobile device insurance to cover for accidental breaks, loss or theft.
- The top-tier rewards rates of 5 points per $1 spent applies only to groceries and restaurants but not to other common spending categories.
- There’s a monthly limit of $2,500 for accelerated rates. So, every additional dollar spent earns the base rate of 1 point per $1.
- Minimum income requirements will put this card out of reach for some Canadians.
- Interest rates: 20.99% on purchases, 22.49% on cash advances, 22.49% on balance transfers
- Travel perks: Includes comprehensive travel and medical insurance; up to a $150 refund annually on your travel expenses like seat selection and airport parking; unlimited access to the National Bank Lounge at Montréal-Trudeau Airport
Best credit card for Air Canada
TD Aeroplan Visa Infinite*
At a glance: Linked to Air Canada’s Aeroplan program, the TD Aeroplan Visa Infinite offers solid travel perks that will appeal to those who travel frequently with the airline including a strong insurance package and discounts. The ability to share points will appeal to families.
- Annual fee: $139
- Earn rate: 1.5 Aeroplan points per $1 spent on gas, groceries and direct through Air Canada purchases (including vacations); 1 Aeroplan point per $1 on everything else
- Point value: Aeroplan points work on a dynamic chart-based redemption system, which means your point value depends on variables like the destination, ticket price and time of travel when you are booking flights. Your points could be more valuable with this system if you are strategic, but you are limited to booking with Aeroplan-affiliated partners.
- Annual income requirements: Personal income of $60,000 or household income of $100,000
- Welcome offer: You can earn up to 35,000 Aeroplan points. Conditions apply. Account must be approved by January 3, 2024. Plus, as anniversary bonus, earn 15,000 Aeroplan points when you spend at least $7,500 within 12 months of opening the account.
- Generous welcome bonus—earn up to 35,000 Aeroplan points. Conditions apply. Account must be approved by January 3, 2024.
- Every seat is available for redemption with no seat restrictions or carrier surcharges.
- Free first checked bag for primary cardholder and up to eight travel companions travelling on the same reservation travel originates on an Air Canada flight.
- Share your Aeroplan points with up to eight family members and points never expire.
- The earn rate could be stronger in more spending categories.
- It can be complicated to figure out the point values. 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.
- Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
- Travel perks: Travel insurance including up to $2 million in travel medical for the first 21 days of your trip, trip cancellation/interruption, flight/trip delay, lost or delayed baggage, common carrier travel accident, and hotel/motel burglary protection; auto rental collision/loss damage insurance; up to $100 rebate on Nexus application fee; free first checked bag for cardholder and travelling companions; savings with Budget and Avis; Visa Infinite benefits
Best credit card for WestJet
WestJet RBC World Elite Mastercard
At a glance: If you travel regularly with WestJet, this card is definitely one to consider. You’ll earn WestJet dollars with every purchase, which can be redeemed for WestJet flights or vacation packages. Plus have access to valuable perks like free checked bags, airport lounge access and a companion voucher every year.
- Annual fee: $119
- Earn rate: 2% back in WestJet dollars on WestJet flights and vacations packages and 1.5% back on all other purchases
- Point value: 1 WestJet Dollar is worth $1 CAD towards flights or vacation package bookings through westjetvacations.com, with a minimum redemption of 15 WestJet Dollars.
- Welcome offer: earn up to 450 welcome WestJet dollars (a value of up to $450 CAD) when you spend a minimum of $5,000 in the first 3 months on your card.
- Annual income requirements: Personal income of $80,000 or household income of $150,000
- With the welcome bonus, get up to 450 WestJet dollars.
- Valuable annual companion voucher starts at $119—or, trade it in for four lounge vouchers.
- Enjoy free checked bags for the primary cardholder and up to eight travel companions.
- The minimum income requirements will put this card out of reach for some.
- You’re limited to WestJet flights and
- Interest rates: 20.99% on purchases, 22.99% on cash advances
- Travel perks: Travel insurance including out-of-province/out-of-country travel medical, trip interruption, flight delay, travel accident, and hotel/motel burglary protection; auto rental collision/loss damage coverage; annual companion voucher available; free checked bags for primary cardholder and up to eight travel companions; Dragonpass airport lounge access; free Boingo Wi-Fi; fuel savings with Petro Canada
Best credit card with no foreign transaction fees
Scotiabank Passport Visa Infinite*
At a glance: The Scotiabank Passport Visa Infinite card comes with valuable travel benefits like travel insurance, airport lounge access with six free visits annually, and the ability to redeem Scene+ points for travel. You’ll also save 2.5% on purchases in a foreign currency because the card doesn’t charge foreign exchange fees.
- Annual fee: $150
- Earn rate: 3 Scene+ points on every $1 spent at Sobeys stores; 2 Scene+ points per $1 spent on grocery stores, dining, entertainment and transit purchases; 1 Scene+ point on all other purchases
- Point value: 1 Scene+ point is worth $0.01 in redemption value for travel booked through Scene+ Travel, purchases at affiliated grocery, liquor and drug stores, and food and drink at Cineplex and Scene partners. Points are worth slightly less when redeeming for movie tickets, gift cards, statement credits and some merchandise.
- Welcome offer: You can earn up to $1,100+ in value in the first 12 months, including up to 35,000 bonus Scene+ points. Offer ends 31 October 2023.
- Annual income requirements: Personal income of $60,000 or household income of $100,000
- Comes with a generous welcome offer of up to 35,000 Scene+ points. First, earn 25,000 points when you spend $1,000 in everyday purchases in the first 3 months. Then, get another 10,000 points when you spend $40,000 on everyday purchases in the first year.
- Through a new partnership with Sobeys stores, cardmembers will earn 3 Scene+ points per $1 spent at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés TradItIon, Rachelle Béry and Co-Op.
- As this card charges no foreign exchange fees, it’s an excellent option for purchases in another currency.
- In October 2022, the annual fee increased from $139 to $150, or from $69 to $75 for those who have the Scotia Total Equity Plan (STEP).
- The minimum income requirement puts this card out of reach for some.
- Interest rates: 20.99% on purchases, 22.99% on balance transfers
- Travel perks: 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); coverage for trip cancellation/trip interruption, flight delay, delayed and lost baggage, travel accident, rental car collision loss/damage coverage and hotel/motel burglary insurance; airport lounge access with six free lounge passes annually; no foreign transaction fees
Best hotel credit card for travel
Marriott Bonvoy American Express*
At a glance: Travellers who book facilities in the Marriott Bonvoy family should consider this card, which rewards their loyalty lavishly. In addition to a hefty 5 points per $1 spent at Marriott properties, this card gets you 15 Elite Night credits every year, plus an annual night hotel stay for free. The points are flexible and can be transferred to more than 40 airline programs, including Aeroplan.
- Annual fee: $120
- Earn rate: Earn 5 points for every $1 spent at Marriott properties and 2 points per $1 everywhere else
- Point value: The value of your Marriott Bonvoy points depends on the hotel brand you are booking with. You can also transfer points to many airline programs at a 3:1 ratio (3,000 Marriott points are worth 1,000 points at other airlines).
- Welcome offer: You can Earn 50,000 Marriott Bonvoy points after you charge $1,500 in purchases to your Card in your first three months of Cardmembership.
- Annual income requirements: None
- Flexible 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.
- Cardholders can transfer their points to more than 40 airline programs, including Aeroplan.
- Cardholders get a free annual hotel stay.
- The included travel insurance lacks travel medical coverage.
- As an American Express card, it’s not as widely accepted as Visa or Mastercard.
- Interest rates: 20.99% on purchases, 21.99% on cash advances
- Travel perks: Includes $500,000 in travel accident coverage; flight and baggage delay protection; car rental theft and damage protection; hotel/motel burglary insurance; cardholders have the ability to transfer points to over 40 airlines; one free hotel stay per year; 15 Elite Night credits each year to use towards attaining the next level of Elite status
Best credit card for travel insurance
National Bank World Elite Mastercard*
At a glance: The National Bank World Elite Mastercard has one of the best suites of included travel insurance around, especially for the hard-to-insure older traveller. Other travel benefits like VIP lounge access at Montréal-Trudeau International Airport, and up to $150 in travel rebate annually makes this a stand-out.
- Annual fee: $150
- Earn rate: Earn up to 5 points per $1 on grocery and restaurant purchases;
2 points on gas, electric vehicle charges and recurring bills; 1 point on everything else. - Point value: 1 point is worth $0.01 when redeeming for travel purchases like flights and hotels using the À la carte Travel Agency. Cardholders can also get discounts on travel bookings made outside of the platform, and each point is worth up to $0.009 in discounts—redemption values are higher when you are using a greater number of points. You can also redeem points to pay off your credit card balance, and each point is worth $0.04 for this..
- Welcome offer: This card does not have a welcome bonus at this time.
- Annual income requirements: Personal income of $80,000 or household income of $150,000
- Excellent travel insurance coverage, particularly for travellers between the ages of 65 and 75.
- Includes up to $1,000 in new mobile device insurance that protects against accidental breakage, loss or theft.
- Get a refund of up to $150 annually for travel expenses like airport parking and check-in fees.
- There is a monthly cap of $2,500 in spending for bonus points. Purchases above this threshold earn at a rate of 2 points per $1 spent.
- The income requirements may put this card out of reach for some.
- Interest rates: 20.99% on purchases, 22.49% on cash advances, 22.49% on balance transfers
- Travel perks: Includes comprehensive travel insurance coverage for up to 60 days; out-of-province-of-residence medical/hospital insurance, departure flight delay insurance, baggage insurance in case of delay, theft or loss; and vehicle rental insurance; VIP access at the National Bank Lounge at Montréal-Trudeau Airport; up to $150 each year in refund for travel expenses on airport parking, seat selection, check-in fees, airline ticket upgrades and access to airport lounges worldwide
Best no fee card for travel insurance
Rogers World Elite Mastercard
At a glance: For those who want solid travel insurance without having to fork out an annual fee, the Rogers World Elite Mastercard is an excellent choice. Other travel-related perks include airport lounge access, free Boingo Wi-Fi, and cash back rewards. This card will also appeal to those who prefer cash back over point reward programs.
- Annual fee: None
- Earn rate: 1.5% cash back on all purchases; 3% cash back on all U.S.-dollar purchases
- Welcome offer: Earn $25 cash back when you make your first purchase within three months of having the card.
- Annual income requirements: Credit approval, plus personal income of $80,000 or household income of $150,000
- Although not a card without foreign exchange fees, you’ll get 3% back on purchases made in American dollars, which will more than offset foreign-exchange fees (typically 2.5% on purchases).
- New members get a $25 bonus applied to their account on making their first purchase with the card.
- To maintain eligibility, you must have an annual spend of $15,000 each year.
- The minimum income requirements and need for credit approval put this card out of reach for some.
- Interest rates: 19.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
- Travel perks: Includes out-of-province/out-of-country emergency medical insurance; trip cancellation/interruption protection; rental car collision/damage coverage; access to over 1,300 airport lounges with Mastercard Travel Pass from DragonPass
Best credit card for earning Air Miles
BMO Air Miles World Elite Mastercard*
At a glance: The BMO Air Miles World Elite Mastercard is a valuable tool for the Air Miles collector, offering a minimum of 1 Mile per $1 spent and the ability to “double dip” at sponsor locations, which will help boost your balance quickly. Cardholders can book one Air Miles flight annually using 25% fewer Miles, and get Onyx collector status, which lets you use fewer Miles for flights and merchandise. For those travelling frequently with Air Miles, this card is a good choice.
- Annual fee: $120 (waived for the first year)
- Earn rate: Get 3 Miles for every $12 spent at participating partners, 2 Miles for every $12 spent at any eligible grocery store, and 1 Mile for every $12 spent everywhere else
- Point value: The value of Dream Miles, which can be redeemed for travel purchases, depends on the type of booking. You are limited to Air Miles partners when you book. Cash miles are worth $0.105, and you redeem them in $10 increments.
- Welcome offer: You can earn up to $518 in new Samsung gear plus up to 2,000 AIR MILES Bonus Miles and annual fee waived in the first year!
- Annual income requirements: Personal income of $80,000 or household income of $150,000
- Comes with a solid welcome offer of 3,000 Air Miles (a value of $310 in Air Miles cash) and the waiving of the annual fee for the first year (a value of $120).
- Use fewer Miles with an exclusive 25% discount on one worldwide flight redemption per calendar year.
- You can “double dip” Miles when you make purchases at sponsor locations.
- You’re limited to the Air Miles program.
- Income requirements put this card out of reach for some.
- Interest rates: 20.99% on purchases, 23.99% on cash advances, 22.99% on balance transfers
- Travel perks: World Elite travel and medical protection that includes trip cancellation, 15 days of out-of-province/out-of-country emergency medical benefits up to $5 million, and collision damage waiver benefits on rental cars; complimentary membership in Mastercard Travel Pass provided by DragonPass.
Our methodology: How we determine the best cards
The MoneySense editorial team selects the best credit cards by assessing the value they provide to Canadians across various categories. Our best travel credit cards ranking is based on an extensive list of card details and features—with a focus on what matters to travellers—including annual fees, interest rates, welcome offers, rewards earn rates and redemption options, annual income requirements, and travel perks such as insurance coverage, discounts and airport lounge access. We have also considered the pros and cons of each card to help you determine which ones best suit your financial needs. Our rankings are an unbiased source of information for Canadians. The addition of links from affiliate partners has no bearing on the results. Read more about how MoneySense makes money.
Frequently asked questions
The best travel credit card will depend on your needs, travel habits and how you intend to use the card. The American Express Cobalt, for example, is a strong contender for the best travel credit card because you have the ability to earn rewards at a high rate across everyday purchases. The MBNA Rewards Platinum Plus Mastercard offers great travel features for no annual fee—like the ability to redeem points at any airline.
The National Bank World Elite Mastercard offers well-above average travel medical insurance at $5,000,000, and it even provides 15 days of coverage for those aged 65-75. The Rogers World Elite Mastercard provides $1,000,000 in emergency medical coverage for no annual fee.
The most common types of travel points programs are consistent or chart-based. With consistent rewards programs, the value of the points is always the same. For example, BMO Ascend World Elite users earn BMO Rewards points, for which 150 points equals $1 in travel rewards. Point values in chart-based programs depend on variables like the destination, ticket price and time of travel. Points redemption for the TD Aeroplan Visa Infinite are based on Aeroplan’s dynamic redemption chart. Consistent points programs are ideal if you want a simple redemption process. Chart-based programs are more complex, but potentially more valuable.
Different types of travel credit cards
Generic travel rewards credit cards
Some credit cards offer you the ability to earn rewards on everyday purchases and other purchase categories, which can be redeemed towards a wide variety of things, including travel. This means you are not necessarily limited to booking through certain airlines when redeeming your points on flights. You may also be able to transfer your credit card points to an airline rewards program, such as with the American Express Cobalt.
Airline rewards credit cards
Some travel credit cards offer rewards with specific airlines where your points’ redemption values may vary, such as the TD Aeroplan Visa Infinite card. When you accumulate enough points, you can book a flight or vacation package with affiliated airlines like WestJet or Air Canada. Keep in mind though that the value of your points can depend on the date of your flight and your destination.
Hotel rewards credit cards
Hotel rewards credit cards offer you the ability to redeem your points towards a hotel stay, and to earn points when you book at affiliated hotels like Marriott or Delta, or earn perks such as room upgrades or free breakfasts when you book eligible hotel stays. If you frequently book hotels for work or travel, consider a hotel rewards credit card like the Marriott Bonvoy American Express.
Travel credit card features
Some important features to look out for in travel credit cards, besides points value and your booking redemption options (flights, hotels, cars), include:
- Travel insurance coverage for medical issues or trip delays. Most credit card travel insurance programs cover you up to 15 days and tend to be more limited for those over the age of 65, but there are exceptions. (Read about how to know if your credit card comes with enough travel insurance coverage.)
- Airport lounge access for free or discounted lounge passes through Priority Pass, Visa Airport Companion Program, Dragon Pass and others.
- Hotel discounts, like discounts at Marriott hotels.
Whether the card charges you foreign transaction fees while you are abroad, on top of regular exchange rates. These fees can be as high as an added 2.5% on every purchase.
What travel points program is best?
Not all travel reward programs are created equal. So how do you choose the right one for you?
First, it’s important to understand that travel rewards programs can be broken down into two basic types: Consistent and chart-based. Read more about these under “frequently asked questions” above.
It’s worth noting that in rare cases, like the American Express Membership Rewards Program, you might get to choose to redeem points for travel based on either a consistent system or as a chart-based system.
Many of the big banks offer consistent points travel reward programs. They’re aimed at people who want to operate within a simple program that has an easy-to-understand redemption process; people who dislike complicated programs will appreciate these. Chart-based programs can be considerably more complicated—but also potentially more valuable. Since the number of points needed to redeem for a flight isn’t consistent, using the rewards chart strategically can help you stretch the value of your points and net a higher return when flying on certain routes, or even when booking premium seats or business class. These programs are more popular with personal finance enthusiasts and left-brain thinkers.
How much are your credit card travel points worth?
Consistent points programs
- MBNA Rewards: 1 point is worth $0.01 in travel rewards
- American Express Flexible Points Program: 1 point is worth $0.01 in travel rewards
- Scotia Rewards: 1 point is worth $0.01 in travel rewards
- TD Rewards: 1 point is worth 0.5 of a cent in travel rewards booked via Expedia For TD
- BMO Rewards: 1 point is worth 0.7 of a cent in travel rewards
- WestJet Dollars: 1% in WestJet Dollars is worth $0.01 in travel rewards
- National Bank: 1 point is worth $0.01 in travel rewards
- RBC Rewards: 1 point is worth $0.01 in travel rewards
Chart-based programs
For chart programs, you will have to consult the respective rewards website when redeeming to truly understand the value of your rewards.
- American Express Fixed Points program
- Aeroplan
- Marriott Bonvoy
- RBC Avion – Air Travel Redemption Schedule
Do travel credit card points expire?
Some travel rewards points expire after a certain period of inactivity, while others do not. For example, Aeroplan points expire after 18 months of inactivity, and Marriott Bonvoy points expire after 24 months, while WestJet dollars generally do not expire, unless they were earned during certain promotions or other circumstances. To avoid having your points expire, you can book hotels with your points, buy products through the loyalty program’s store, transfer points from another program or to a family member, in some cases, and more.
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