Are you a travel enthusiast who would like to earn rewards while exploring the world? If so, finding the best credit card for travel rewards in Canada should be a top priority. With so many options available, it can be overwhelming to choose the perfect card that suits your needs and spending patterns. In this article, we will dive into the top travel rewards credit cards in Canada and guide you through their benefits and features. Let's get started and find the perfect travel companion for your wallet!
Best Credit Cards For Travel Rewards Canada Table of Contents
1. American Express Cobalt™ Card
2. BMO World Elite™️ Mastercard®️
1. American Express Cobalt™ Card
The American Express Cobalt™ Card is an excellent choice for foodies and travellers alike, offering a whopping 5x points for every dollar spent on eligible dining and food delivery purchases. You'll also earn 3x points for streaming services, 2x points on travel purchases, and 1x points for everything else. With an annual fee of $155.88 ($12.99/month), it's a top contender for those who favour dining out and travelling.
- 5x points on dining and food delivery
- 3x points on streaming services
- 2x points on travel purchases
- 1x points on everything else
- Annual fee: $155.88 ($12.99/month)
2. BMO World Elite™️ Mastercard®️
The BMO World Elite™️ Mastercard®️ is ideal for globetrotters and offers an impressive 3 BMO Rewards points per dollar on eligible travel, dining, and entertainment purchases. You'll also earn 2 points per dollar on everything else, and the card comes with a comprehensive travel insurance package and complimentary airport lounge access through Mastercard Airport Experiences. The annual fee is $150, but your first year is waived!
- 3 BMO Rewards points per dollar on travel, dining, and entertainment
- 2 points per dollar on everything else
- Travel insurance package
- Mastercard Airport Experiences lounge access
- Annual fee: $150 (first year waived)
3. Scotiabank Passport™️ Visa Infinite* Card
With the Scotiabank Passport™️ Visa Infinite* Card, you'll earn 2 Scotia Rewards points per dollar on grocery, dining, entertainment, and transit purchases, and 1 point per dollar elsewhere. This card comes with a Priority Pass membership and 6 free lounge visits, making it perfect for frequent travellers. It also offers no foreign transaction fees, which can save you money while travelling. The annual fee is $139.
- 2 Scotia Rewards points per dollar on groceries, dining, entertainment, and transit
- 1 point per dollar on everything else
- Priority Pass membership with 6 free lounge visits
- No foreign transaction fees
- Annual fee: $139
4. TD First Class Travel®️ Visa Infinite* Card
The TD First Class Travel®️ Visa Infinite* Card offers 3 TD points per dollar on all purchases and a significant welcome bonus of up to 60,000 points if you meet the spending criteria. You can redeem points for travel through the Expedia For TD platform, and the card also includes travel insurance and Emergency Travel Assistance. The annual fee is $120, but it's rebated for the first year.
- 3 TD points per dollar on all purchases
- Welcome bonus: up to 60,000 points
- Travel insurance and Emergency Travel Assistance
- Annual fee: $120 (first year rebated)
Best Credit Cards For Travel Rewards Canada Example:
Imagine you're planning a trip to Paris and you're using the American Express Cobalt™ Card. You spend $1,500 on flights, $800 on accommodations, and an additional $700 on dining. Here's how many points you'd earn for this trip:
- Flights: 1,500 x 2 = 3,000 points
- Accommodations: 800 x 2 = 1,600 points
- Dining: 700 x 5 = 3,500 points
- Total points: 8,100
These 8,100 points can be redeemed for various rewards, such as travel, merchandise, or statement credits, helping you save on your next adventure.
Now that you're armed with the knowledge of some of the best credit cards for travel rewards in Canada, you're ready to make an informed decision and choose the card that suits your lifestyle and spending habits. With the right card in your wallet, you'll be racking up points and reaping rewards, all while exploring the world. Don't forget to share this article, and remember, your next adventure awaits with Flik Eco!
