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Traveling, want to save, but don’t know how? Start by using one of the best travel credit cards Canada, they are designed to make you save on travel.
What do you prioritize on a trip? Miles? Cashback? Discounts on Flights and Accommodation? We help you find the right option here.
We will cover the best travel credit cards Canada and none are the same, each is designed for a specific purpose. So, keep reading and find the ideal card for what you have been looking for.
Honest Review of the best travel credit cards Canada
1. Scotiabank Gold American Express
This card stands out as one of the most cost-effective alternatives in all of Canada.
First, its annual fee costs CAD$ 120.00 per year for the primary cardholder. At the same time, the standard interest rate on regular purchases is 21.99%. In addition, cash advances accumulate annual interest of 22.99%.
The most attractive advantage is the complete exemption of the 2.5% foreign transaction fee. Thus, you save a lot of money on international purchases made online or during your vacation trips.
You also earn up to 6 points per dollar spent at participating partner grocery stores.
On the other hand, the negative point lies in the lower acceptance of the American Express brand in small Canadian businesses.
Furthermore, airport VIP lounges are not included for free in this basic package.
Therefore, the Scotiabank Gold American Express is perfect for families who spend a lot on food and make international trips with regular frequency.
2. American Express Cobalt
The American Express Cobalt Canada gained huge popularity due to its unmatched ease of accumulating daily financial rewards.
Generally, its annual maintenance cost is charged in monthly installments of CAD$ 15.99. This totals CAD$ 191.88 every 12 consecutive months.
In addition, annual interest rates on purchases and cash advances stand at 21.99%.
Among the main attractions, the points transfer at a 1 to 1 ratio to the Aeroplan program stands out.
Similarly, the card yields 5 points for every dollar spent on restaurants and food delivery orders.
Its disadvantage is the traditional 2.5% exchange rate fee. In addition, the brand requires a stable income and a good credit score for immediate approval of the registration.
3. Scotiabank Passport Visa Infinite
If you are looking for unrestricted global acceptance combined with airport amenities, this is a very interesting choice.
In fact, the bank stipulates an annual fee of CAD$ 150.00 for the primary cardholder’s credential.
On the other hand, the interest rates set for commercial transactions are 20.99% annually. For cash advances and outstanding balance transfers, the rate reaches 22.99%.
The great strength of this option lies in the concession of 6 free annual passes to international VIP lounges.
Likewise, the bank completely eliminates the exchange commission on purchases made in other foreign currencies around the world.
Even so, the card carries the disadvantage of requiring a minimum personal annual income of CAD$ 60,000.00. If you use a combined household income, the bank will request at least CAD$ 100,000.00 gross declared.
4. National Bank World Elite Mastercard (Best travel credit cards Canada)
The National Bank World Elite Mastercard surprises a lot with its financial balance and excellent health insurance coverage package.
Its standard annual fee is CAD$ 150.00 charged to the card statement. Meanwhile, contractual interest rates are 20.99% on ordinary bills. The rate charged on cash advances reaches 22.49% per year.
The major benefit of this product is an annual travel credit of up to CAD$ 150.00.
This way, it offsets the annual fee value by reimbursing expenses with baggage fees and parking. Another brilliant differentiator is the emergency medical insurance covering trips of up to 60 consecutive days abroad.
Generally, the minimum required income is high, requiring CAD$ 80,000.00 personal or CAD$ 150,000.00 household. It is the best recommendation for digital nomads and travelers who spend long periods exploring other distant countries.
5. American Express Aeroplan Reserve
Those looking for a luxurious experience find a very powerful partner in this credential made of metal. Its annual fee is high, costing CAD$ 599.00 each year. Revolving interest applied to purchases and cash advances remains at 21.99%.
Among the most significant advantages, the free and unrestricted access to the exclusive Maple Leaf Lounges stands out.
Likewise, the cardholder receives free first checked bag for themselves and up to 8 companions on the same reservation.
The member also enjoys priority boarding and priority security lines at dozens of airports across the country.
However, the exorbitant financial cost of the annual fee keeps away those who do not use the air network with extreme regularity.
Additionally, the standard 2.5% exchange fee continues to apply to external expenses.
6. TD Aeroplan Visa Infinite (Best travel credit cards Canada)
This credential represents one of the most affordable entry points to accumulate direct miles on Air Canada.
First, the financial institution charges CAD$ 139.00 for the primary cardholder’s annual fee.
In turn, the interest rate on current purchases is 20.99%. For cash advance operations at ATMs, financial charges rise to 22.99%.
When traveling on the country’s official carrier, you get free checked baggage for up to 9 passengers.
Similarly, the welcome bonus usually offers tens of thousands of points in the 1st year.
However, this card does not provide free passes to private lounges at any airport around the globe. Moreover, the additional 2.5% charge on foreign currencies continues to be applied as well.
7. RBC Avion Visa Infinite
The Royal Bank of Canada’s proposal is supported by a classic and uncomplicated system of travel rewards.
Its annual maintenance fee for this tool is CAD$ 120.00 for the user. Furthermore, the annual interest rate for purchases stands at 20.99% contractually. For cash withdrawal transactions, the interest rates are set at 22.99%.
The great advantage lies in the redemption of airline tickets by a fixed grid without flight or date restrictions.
In addition to this facility, the customer can transfer points at a full 1:1 ratio to global airlines like British Airways.
On the other hand, the rate of daily point generation on regular purchases is relatively warm and slow.
There is also no exemption from currency conversion fees when making payments in territories located outside of Canada.
8. BMO Ascend World Elite Mastercard (Best travel credit cards Canada)
The BMO Ascend World Elite Mastercard premium brings excellent airport amenities for those who prioritize rest before boarding on their connections.
Know that the bank charges CAD$ 150.00 annually for the full annual fee linked to the account holder.
At the same time, interest for purchases reaches 20.99% per year. In the case of cash advance operations, the financial rate fluctuates up to 23.99%.
Among the most striking positive aspects are 4 free annual accesses to VIP lounges through the DragonPass program.
Another commendable point lies in the CAD$ 5,000,000.00 medical policy for emergencies outside the home province.
However, the real monetary value of redeeming each BMO point is slightly lower than average. Likewise, the traditional 2.5% surcharge on purchases made abroad exists.
Conclusão
The choice of the perfect card depends directly on your spending habits and favorite travel destinations.
Options with zero exchange rate fee generate immediate savings outside Canada.
Meanwhile, partner models of airlines guarantee free checked bags and discounted airfares.
Finally, credentials with lounge access provide great comfort during your waits at busy airports.
Thus, examine your previous statements, identify where you spend the most, and choose the best tool for your profile. Apply for your travel credit card today and start accumulating fantastic benefits on your next unforgettable journey around the world!
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