Canada’s Best Travel Credit Cards for Big Savings on your Next Vacation

Every year, I look forward to going on a big trip with my daughter. That’s why I always start working on getting the best credit card for travel rewards for our next vacation. As a frequent traveler, there are 2 things I always have my eye out for: the best travel reward credit cards and the best ways to earn free flights.

Traveling isn’t cheap, especially nowadays, as nearly every government charges an airport tax and resort fees. To save money, credit cards can come in handy. But which credit card should you get? With so many promising offers on the market, deciding which one is best for your budget and travel needs can be difficult.

If you’re planning on taking a vacation, it’s time to start planning your travel routes. And if you’re looking for some extra points, you might want to think about your choice in credit card. Luckily for you, I’ve got the best travel credit cards right here! I’ve rounded up the best travel credit cards, based on category and rewards, so that you can choose the right one.

10 BEST TRAVEL CREDIT CARDS FOR BIG SAVINGS ON YOUR NEXT VACATION

1. Desjardins Odyssey World Elite Mastercard

Unlock a world of rewards and convenience with this credit card. Designed for those who crave adventure and luxury, this prestigious credit card offers an array of benefits tailored to enhance your lifestyle. This card is my top choice, the one I use every day.

Benefits:

• Earn up to 3% of your purchases in BONUS­DOLLARS, redeemable towards travel expenses such as flights, hotels, car rentals, and more.
• Enjoy peace of mind with travel insurance coverage for you and your children for up to 60 consecutive days, no matter how many trips you take during the year.
• Emergency healthcare coverage: Up to $5 million per person for up to 60 days, depending on your age.
• Trip cancellation coverage: Up to $2,500 per person if cancelled before departure; unlimited coverage if cancelled after departure (ticket purchase with credit card required).
• Baggage coverage: Up to $1,000 per person for lost or damaged baggage; up to $500 per person for baggage delayed over 6 hours for up to 60 days, depending on your age.
• Travel assistance: 24/7 support worldwide.
• 8 free lounge access passes annually and enjoy unlimited beverages, snacks, newspapers, magazines, and Wi-Fi.
• Get up to 25% off and other benefits to rent a car at Hertz, Thrifty, and Dollar.
• Auto rental collision and loss damage insurance covers up to 48 consecutive days for damage or theft of your rental car

• Mobile device insurance: Get up to $1,500 to cover the loss, theft, accidental damage or mechanical failure of mobile devices

Fees and Interest Rates:

• Annual Fee of $130
• Purchase rate of 20.9%, and a cash advance rate of 21.9%.
• Foreign Transaction Fee of 2.5% per transaction in foreign currencies.

To qualify for this credit card, you need to earn at least $80,000 per year individually or $150,000 per year as a household.

Since I’m always traveling with my daughter, this card is my favorite so far as it has all the travel benefit features that cover us up to 60 consecutive days wherever we go. This credit card allows us to travel with peace of mind thanks to their comprehensive insurance coverage: medical and hospital insurance, trip cancellation and interruption insurance, flight delay insurance, baggage insurance and car rental insurance. 

Also, one of the best things about this card is that we get 8 free access to airport lounges every year, which is more than the usual 4 offered by other credit cards. At these lounges, we can enjoy free food and drinks, use free wifi, and relax in comfortable seating while waiting for our flights.

2. Neo World Elite® Mastercard

The Neo World Elite® Mastercard provides an impressive cashback structure, tailored for those who want real cash rewards on everyday spending and additional perks for frequent travelers.

Benefits

• Cashback Rewards: Receive 5% cashback on groceries, 4% on recurring bills, 3% on gas, and 1% back on all other purchases. For Neo bank customers, these rates increase to 7% on groceries, 5% on recurring bills, and 4% on gas.
• Potential Earnings: High spenders can earn up to $2,020 annually in cashback, plus an additional $1,200 through the partner network with an estimated spend of $70,000.
• Comprehensive Travel Insurance: The card includes World Elite® travel benefits, covering medical emergencies, trip interruptions, and more while traveling.

Travel Insurance Details

• Coverage Duration: Insurance is effective when a trip is booked and paid for with the card, covering the first 14 consecutive days of travel. This period can be extended in certain emergency cases, such as hospitalization.
• Emergency Medical Coverage: Up to $1,000,000 for emergency medical treatment, including hospital stays, doctor visits, surgeries, and prescribed medications.
• Additional Coverage:
  • Emergency Dental Expenses: Up to $2,000 for injury-related dental repairs and $200 for emergency pain relief.
  • Extended Services: Covers costs for physiotherapists, chiropractors, and other professionals up to $250 each.
  • Emergency Transport: Covers emergency air travel or ambulance transportation if medically necessary.
  • Additional Travel Assistance: Includes expenses for hotel stays (up to $150/day) if a medical emergency delays return travel, and covers round-trip transportation for a family member if needed for support during hospitalization.

Fees and Interest Rates

•Annual Fee: $125

•Purchase interest rate 19.99% – 26.99%%

•Cash advance interest rate % 22.99% – 28.99%

To qualify for this Neo World Elite® Mastercard, you need to have an individual income of at least $80,000 or a household income of $150,000.

Overall, the Neo World Elite® Mastercard is a solid choice for high spenders who value cashback on essentials and enhanced travel benefits.

3. Cathay World Elite® Mastercard®

The Cathay World Elite® Mastercard® is the only card in Canada that allows you to earn Asia Miles, regardless of whether it is a Mastercard, Visa, or Amex. This card provides amazing travel rewards for anyone who wants to earn Asia Miles and get access to luxury travel privileges.

Benefits:

• Earn Asia Miles Fast: You can earn Asia Miles faster by getting 1 Asia Mile for every Canadian dollar spent while you can earn an average of 5x Asia Miles from thousands of Neo partners and get 2 Asia Miles for each dollar spent on Cathay Pacific flights and foreign currency purchases.
• Travel Perks: You’ll receive priority online check-in access and entry to more than 1,300 DragonPass airport lounges spanning over 140 countries through this program as travel benefits.
• Peace of Mind: Secure your travel plans with insurance coverage against flight cancellations and baggage loss and flight delays along with protection for car rental theft or damage.
• Welcome Offer: New members receive 20,000 Asia Miles upon joining with an additional 20,000 Asia Miles credited after a $5,000 spend within 90 days.

Fees and Interest Rates:

• Annual Fee: $180
• Interest Rate: The credit card charges a 20.99% interest rate on purchases but charges a higher rate of 22.99% for cash advances.

To qualify for this card, you need both a good to excellent credit score and a minimum income of $80,000 for individuals or $150,000 for families to apply for the Cathay World Elite® Mastercard®.

4. NBC World Elite Mastercard

The World Elite Mastercard National bank card makes the difference. Get travel experience to the next level. With this card you will earn up to 5 points on all card purchases. 

Benefits: 

• Travel insurance for up to 60 days
• Unlimited access along with one (1) guest to the National Bank Lounge. Only available to clients flying to destinations outside the U.S. and Canada.
• Up to $5 million in coverage for out-of-province medical expenses per person
• Insurance for a rental car for up to 48 days
• Insurance against flight delays, up to 500$
• Insurance for delayed baggage of up to 500$
• Insurance coverage for lost or stolen luggage up to 1 000$
• Insurance against trip interruption
• Insurance against trip cancellation (up to 2 500$)
• Purchase insurance (up to 180 days)
• More extended warranty (up to 2 extra years)
• Up to 250$ each year in “savvy traveller” fee rebates on airport parking, seat selection and check-in fees

 Fees and Interest rates :

• Annual fee of 150$, an additional card for 50$
• Purchase rate of 20.99%, and a cash advance rate of 22.49%.

 To qualify for this card, you must have a household income of 150 000$ or a personal annual income of 80 000$.

5. NBC Mastercard World

Another great travel credit card is the BNC Mastercard World. This card give you up to 2 points per dollar spent.  

Benefits:

• Dedicated online store – Redeem your points for various prizes from renowned brands.
• Comprehensive travel insurance – Their travel, trip cancellation/interruption, luggage loss, and automobile rental insurance offers coverage for up to 60 days.
• A travel agency – When you use your points to purchase travel rewards, you get more for your money.
• Extended warranty – You can get up to 3 times the manufacturer’s guarantee and up to 2 additional years for most things you buy with your credit card.
• Rewards that pay off – Use your rewards points or à la carte Extras program® to pay off your credit card bill, invest in a financial product or cover your mortgage.
• Travel discounts – Spend your points on airfare, auto rentals, or holiday rentals to cover your travel costs.

 Fees and Interest rates :

• Annual fee of 115$, an additional card for 35$
• Purchase rate of 20.99%, and a cash advance rate of 22.49%.

 To qualify, you must have a yearly family income of at least 100 000$ and a gross annual individual income of at least 60 000$.

 6. CIBC Aventura Visa Infinite

Introducing the CIBC Aventura Visa Infinite Card – your key to unlocking a world of rewards and benefits! With this card in your wallet, you will enjoy exclusive perks tailored to your lifestyle, making every purchase more rewarding than ever before.

Benefits:

• Earn Points on Every Purchase:
  • 2 points for every $1 spent on travel through the CIBC Rewards Centre.
  • 1.5 points for every $1 spent at eligible gas stations, electric vehicle charging stations, grocery stores, and drug stores.
  • 1 point for every $1 spent on all other purchases.

• Travel Perks:
  • • Enjoy 4 complimentary visits to comfortable lounges before boarding with the Visa Airport Companion Program.
    • Receive a rebate on one NEXUS application fee every 4 years.

• Valuable Insurance Coverage:
  • • Travel insurance covers up to 15 consecutive days..
    • Flight Delay and Baggage Insurance.
    • Trip Cancellation and Trip Interruption Insurance.
    • Auto Rental Collision and Loss Damage Insurance.
    • $500,000 Common Carrier Accident Insurance.
    • Purchase Security and Extended Protection Insurance.
    • Hotel Burglary Insurance.
    • Mobile Device Insurance.

 Fees and Interest rates :

• 139$ annual price. 50$ for each additional card
• Interest rate (purchases) 20.99%
• Interest rate (cash) 22.99% (non-Quebec residents), 21.99% (Quebec residents)

To be eligible for CIBC Aventura Visa Infinite Card, you will need a minimum annual income of $60,000 individually or $100,000 as a household.

7. CIBC Aventura Gold Visa Card

Experience the convenience and benefits of the CIBC Rewards Visa Infinite Card for your everyday spending and travel needs. 

Benefits:

• Earn 2 points for every $1 spent on travel purchased through the CIBC Rewards Centre.
• Get 1.5 points for every $1 spent at eligible gas stations, electric vehicle charging stations, grocery stores, and drug stores.
• Accelerate your savings with up to 10 cents off per litre on eligible gas.
• Earn 1 point for every $1 spent on all other purchases.
• Enjoy up to 15-day consecutive travel insurance.
• Relax in comfort before your flight with 4 complimentary visits to lounges through the Visa Airport Companion Program.
• Expedite your travel with a rebate on one NEXUS application fee every 4 years.
• Redeem points towards flights, car rentals, hotels, vacation packages, and more, with points that never expire.

 Fees and Interest rates :

• Annual Fee of $139 (First-year rebate for the primary cardholder)
  Additional Cards: $50 each for up to 3 additional cards
• Purchase interest rate 20.99%
• Cash interest rate: 22.99% (Non-Quebec residents),  21.99% (Quebec residents) 

To qualify for the CIBC Aventura Visa Infinite Card, you need a minimum annual household income of $15,000.

8. RBC Avion Visa Infinite

With the Avion Visa Infinite Card, your journey becomes more rewarding and secure than ever before. 

Benefits:

• Earn 1 Avion point for every $1 spent on your card. Plus, get an extra 25% bonus on eligible travel-related purchases.
• Mobile Device Insurance covered for up to $1,500. Whether it’s accidental damage or theft, your device is protected.
• Travel covered for up to 15 consecutive days during your travels.
• Receive up to $1,500 per covered person for trip cancellation, $5,000 for trip interruption, and various other coverages including flight delays, delayed baggage, hotel/motel burglary, and travel accident insurance.
• Enjoy peace of mind during car rentals with insurance coverage for up to 48 consecutive days.

 Fees and Interest rates :

• Annual fee of 120$. 50$ for additional card
• Purchase rate of 20.99%, and a cash advance rate of 22.99%

 This card requires a minimum personal income of 60 000$ or a minimum household income of 100 000$ for this card.

9. American Express Cobalt Card

Discover the simplicity of earning, the flexibility of redeeming, and the security of coverage with the Cobalt Card. 

Benefits:

• 5X Points on Eligible Eats & Drinks: Earn 5 times the points on eligible food and beverage purchases made in Canada.
• 3X Points on Streaming Subscriptions: Get triple points on eligible streaming subscriptions in Canada.
• 2X Points on Transit & Gas: Earn double points on eligible transit and gas purchases within Canada, as well as on eligible travel expenses.
• 1X Points on Everything Else: Earn one point for every dollar spent on all other purchases.
• Bonus Points on Travel Bookings: Receive an additional Membership Rewards point for every dollar charged on eligible hotel or car rental bookings.
• Up to $5,000,000 in coverage for eligible emergency medical expenses incurred while traveling outside your Canadian province or territory of residence for the first 15 consecutive days of your trip.
• Receive up to $500 in coverage for necessary expenses due to flight delays or denied boarding for 4 hours or more.
• Up to $500 in coverage for essential purchases due to delayed checked-in baggage for 6 or more hours on outbound trips.
• Coverage up to $500 per trip for loss or damage to checked-in or carry-on baggage.
• Coverage for theft, loss, and damage of rental cars for up to $85,000 for rentals of 48 days or less.

 Fees and Interest rates :

• Monthly fee of 12.99$
• Annual interest rate of 20.99% on purchases, and 21.99% on funds advances.
• No fee for additional cards

10. Scotiabank Gold American Express Card

Whether you are dining out, grocery shopping, or exploring entertainment options, this card rewards you while providing peace of mind on your travels with comprehensive insurance benefits.

Benefits:

• Earn up to 6X the Scene+ points on every $1 CAD you spend in Canada on eligible grocery, dining, and entertainment purchases.
• No foreign transaction fees, saving you from paying 2.5% on foreign currency purchases, whether online or while traveling abroad.
• Enjoy a preferred discount on Priority Pass membership, granting access to over 1200 VIP lounges worldwide.
• Travel insurance coverage for up to 25 consecutive days.
• Trip cancellation/interruption insurance up to $1,500 per person.
• Coverage of up to $1,000 for lost, stolen, damaged, or mechanically failed cell phones, smartphones, or tablets.
• Collision loss/damage insurance for up to 48 consecutive days for vehicles costing under $65,000.
• Automatic insurance against accidental loss of life or dismemberment for you, your spouse, and eligible dependent children, up to a maximum of $500,000 per occurrence.

 Fees and Interest rates :

• 120$ annual fee
• Interest rates- (20.99% on purchase, 22.99% on cash advances)
• Minimum credit limit – $5,000
• Each supplementary card – 29$/year

So which travel credit card is right for you? For most people, a rewards credit card is the top choice. It lets you earn points or miles that you can later use for travel. But because everyone’s finances and spending habits are different, the best travel credit card for you depends on what you need and how you spend your money. 

In addition to earning rewards, there are ways to maximize the value of your rewards when it comes time to redeem them. Typically, there are 2 ways to redeem your travel points when the time comes. You can plan your itinerary and use your points to cover the fee in full or partially. However, you may do some research to find out how to use your rewards in the best way possible. And no matter what card(s) you regularly use, there are plenty of ways today to maximize the travel experience without breaking the bank. 

There’s no perfect answer when it comes to choosing the best travel credit card, but each one has its own perks that can make all the difference. Before applying for a new card, take the time to understand the features of each option and determine which aligns best with your travel needs.