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Traveling can be expensive, especially when it comes to paying for flights, accommodations, and other expenses. A travel credit card can be a smart way to save money and earn rewards while you’re on the go. With so many options available, it can be difficult to choose the best credit card for travel in Canada. In this article, we’ll review the top travel credit cards in Canada and help you find the best one for your needs.
Scotiabank Passport Visa Infinite Card
The Scotia Passport Visa Infinite Card is a great option for frequent travelers. This card offers no foreign transaction fees, which means you can use it to make purchases abroad without paying additional fees. In addition, the card comes with six free airport lounge visits per year through Priority Pass membership. The card also has a generous sign-up bonus of 25,000 points (worth $250) and a $139 annual fee.
BMO World Elite Mastercard
The BMO World Elite Mastercard is another great option for travelers. This card offers travel insurance, including trip cancellation, emergency medical and dental, and travel accident insurance. It also offers no foreign transaction fees and comes with a Priority Pass membership that includes four free airport lounge visits per year. The card has a sign-up bonus of 35,000 points (worth $250) and an annual fee of $150.
Tangerine Money-Back Credit Card
If you’re looking for a more affordable travel credit card option, the Tangerine Money-Back Credit Card is a great choice. This card offers 2% cash back on up to three categories of your choice, including groceries, gas, restaurants, and more. It also offers no annual fee and no foreign transaction fees. While it doesn’t offer travel insurance or airport lounge access, it’s a great card for earning rewards on everyday purchases.
American Express Gold Rewards Card
The American Express Gold Rewards Card is a popular choice for travelers. This card offers a sign-up bonus of 25,000 points (worth $250) and earns 2 points per dollar on travel, groceries, and gas purchases. It also offers travel insurance, including emergency medical and trip interruption insurance. The card has an annual fee of $150 and no foreign transaction fees.
CIBC Aventura Visa Infinite Card
The CIBC Aventura Visa Infinite Card is another great option for travelers. This card offers travel insurance and comes with a Priority Pass membership that includes four free airport lounge visits per year. It also offers a sign-up bonus of 20,000 points (worth $200) and earns 2 points per dollar on travel and dining purchases. The card has an annual fee of $139 and no foreign transaction fees.
Conclusion
Choosing the best credit card for travel in Canada can depend on your personal preferences and travel habits. Whether you’re looking for a card with no foreign transaction fees, travel insurance, or rewards on everyday purchases, there are many options available. Consider the features and benefits of each card before making a decision, and be sure to read the terms and conditions carefully. With the right travel credit card, you can save money and earn rewards while exploring the world.
| Credit Card | Annual Fee | Foreign Transaction Fees | Sign-up Bonus | Earn Rate |
|---|---|---|---|---|
| Scotiabank Passport Visa Infinite Card | $139 | No | 25,000 points | N/A |
| BMO World Elite Mastercard | $150 | No | 35,000 points | N/A |
| Tangerine Money-Back Credit Card | No | No | N/A | 2% cash back on up to three categories |
| American Express Gold Rewards Card | $150 | No | 25,000 points | 2 points per dollar on travel, groceries, and gas |
| CIBC Aventura Visa Infinite Card | $139 | No | 20,000 points | 2 points per dollar on travel and dining |
Frequently Asked Questions
What is a travel credit card?
A travel credit card is a credit card that offers rewards, benefits, and perks specifically tailored to travelers. These may include no foreign transaction fees, travel insurance, airport lounge access, and rewards on travel purchases.
Are travel credit cards worth it?
If you travel frequently or plan to take a big trip in the near future, a travel credit card can be worth it. These cards can help you save money on fees and earn rewards while you’re on the go.
What should I look for in a travel credit card?
When choosing a travel credit card, consider the annual fee, foreign transaction fees, rewards program, sign-up bonus, and travel benefits such as insurance and airport lounge access.
What is foreign transaction fee?
A foreign transaction fee is a fee charged by credit card companies for transactions made in foreign currency. This fee is typically around 2-3% of the purchase amount.
What is a sign-up bonus?
A sign-up bonus is a reward offered by credit card companies for new cardholders. This may include bonus points or cash back when you make a certain amount of purchases within a specified time frame.