Canada’s Best Travel Credit Cards for Big Savings on your Next Vacation
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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 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.
8 BEST TRAVEL CREDIT CARDS FOR BIG SAVINGS ON YOUR NEXT VACATION
The World Elite Mastercard National bank card makes the difference. Get travel experience to the next level. If you love traveling, this credit card is so far the best! With this card you will earn up to 5 points on all card purchases.
A wide range of travel insurance advantages is also available with the National Bank World Elite Mastercard, including:
- 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%.
It’s important to note that this card offers twice the purchase and extended warranty protection of most credit cards. To qualify for this card, you must have a household income of 150 000$ or a personal annual income of 80 000$.
Since I’m always traveling with my daughter, this card is my favorite so far as it has all the travel benefit features that cover us wherever we go. This credit card allows us to travel with peace of mind thanks to their comprehensive insurance coverage: medical and hospital insurance, trip cancellation and interruption insurance, flight delay insurance, baggage insurance and car rental insurance. Also, one of the greatest part I love about this card is that we get free access to airport lounges while we wait, where there is a variety of complimentary food and drink, free wifi, and comfortable seating.
* To take advantage of this welcome offer, you must not currently hold a personal National Bank Mastercard credit card or have held one in the last 24 months
Another great travel credit card is the BNC Mastercard World. This card give you up to 2 points per dollar spent.
Benefits:
- Dedicated online store – Redeem your points for various prizes from renowned brands.
- Comprehensive travel insurance – Their travel, trip cancellation/interruption, luggage loss, and automobile rental insurance offers coverage for up to 60 days.
- A travel agency – When you use your points to purchase travel rewards, you get more for your money.
- Extended warranty – You can get up to 3 times the manufacturer’s guarantee and up to 2 additional years for most things you buy with your credit card.
- Rewards that pay off – Use your rewards points or à la carte Extras program® to pay off your credit card bill, invest in a financial product or cover your mortgage.
- Travel discounts – Spend your points on airfare, auto rentals, or holiday rentals to cover your travel costs.
Fees and Interest rates :
- Annual fee of 115$, 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$.
The perfect credit card that is perfect for your lifestyle. The National Bank® Platinum Mastercard® credit card is the perfect fit for all your projects, no matter how big or small, due to its many advantages.
Benefits:
- No minimum income is necessary. Regardless of your yearly income, a personalized rewards card is available. This is a quick and easy method to improve your credit.
- Obtain up to 2 points per dollar spent. With each purchase made with this card, you will earn points. You can exchange them to get deals, and goods from your preferred brands.
- Travel protection. Get up to 10 days of coverage which includes trip interruption or cancellation insurance for your out-of-province travels.
- Extension of your product warranty. For your new purchases made with credit cards, receive an additional 2 years of protection.
Fees and Interest rates :
- Annual fee of 70$. Additional card for 35$
- Purchase rate of 20.99%, and a cash advance rate of 22.49%.
The CIBC AC Conversion Visa Prepaid Card is not a credit card, but rather a prepaid travel card. This means that you must first load money onto the card before you can use it to make purchases or withdraw cash. The card does not provide a line of credit and does not involve any borrowing or repayment of funds. Instead, you are using the money you have already loaded onto the card to make purchases and withdrawals, much like a debit card.
The CIBC AC Conversion Visa Prepaid Card, which is primarily a travel card allowing you to load up to 10 different currencies at a time and use them while traveling abroad, also provides a cash back program where you can earn 1% cash back on all your domestic and international purchases made with the card. This means that for every $100 you spend, you will receive $1 cash back on your card.
Benefits:
- You can lock in your exchange rate before your trip, protecting you from currency fluctuations.
- The card is accepted at millions of locations worldwide, wherever Visa is accepted.
- You can use it to withdraw local currency at ATMs. (There may be fees associated)
- You can reload the card online at acconversion.cibc.com or on mobile app.
- Ordering the ACP card is completely free, plus you will get great foreign exchange rates by using the CIBC Mobile App – and even better, you won’t be charged any conversion fees on purchases!
- Since the card is not linked to your regular bank account, it can provide an added layer of security in case it gets lost or stolen. You can also lock and unlock the card through the CIBC Mobile Banking App if needed.
Fees and Interest rates:
- There are no monthly fees or transaction fees for purchases made with the card.
- If you need to convert currencies on the card, there is a foreign exchange fee of 2.5% of the transaction amount.
- The card does not charge interest as it is a prepaid card.
Traveling is the best thing that you can do. You can explore different cultures, understand the world better and learn something new daily. That’s why I think choosing one of Canada’s best travel credit cards is a great idea to help you with your traveling.
Things to know about this credit card:
- When you make your first purchase, you’ll receive 20,000 Aventura points.
- When you spend 1 000$ in your first year, you’ll earn 15,000 Aventura points.
- For each dollar spent on CIBC travel, make two points.
- Earn 1.5 points for each dollar spent on gas, groceries, and prescription drugs.
- For every 1$ spent on any other purchases, receive one point.
- Four free visits per year and membership in Priority Pass or Drag onPass
Fees and Interest rates :
- 139$ annual price. 50$ for each additional card
- Interest rate (purchases) 20.99%
- Interest rate (cash) 22.99%, 21.99%18 (for Quebec residents)
The NEXUS application rebate is an additional perk associated with the CIBC Aventura Visa Infinite for travel. I love the mobile device insurance offered by the CIBC Aventura Visa Infinite card which covers up to 1 000$ for lost, stolen, or accidentally damaged gadgets, whether at home or away. Of the 5 central banks, CIBC was the first to provide this form of insurance. However, buying mobile device insurance using a credit card is becoming quite popular.
Prepare for the holiday season by ensuring you get the most out of your travel credit cards.
The CIBC Aeroplan Visa is an entry-level Aeroplan credit card with no annual fee that awards 1 Aeroplan Point for every 1$ spent on Air Canada, groceries, and gasoline and 1 point for every 1.50$ spent on other purchases.
Benefits:
- Priority Pricing. You can book flight rewards for even fewer points if you have a primary CIBC Aeroplan card. It is a significant advantage because it will raise the value of your Aeroplan points compared to non-cardholders.
- Obtain twice the points. By using your CIBC Aeroplan Visa Card at the Aeroplan eStore, you can obtain points from your other credit cards and points from their 150+ partner stores.
- Travel & Purchase Insurance:
- Collision and loss damage insurance for rented cars
- Insurance for Common Carriers Accidents
- Obtain Security
- Extra Security Insurance
Fees and Interest rates :
- 0$ annual fee for up to 3 additional cards
- Purchase interest rate 20.99%
- Cash interest rate: Qc 21.99% , Non-Qc 22.99%
This travel credit card is ideal if you plan to travel a lot because they offer valuable and lucrative benefits. The RBC Avion Visa Infinite credit card has some of the most generous rewards. But it also makes quite a few things more accessible and more comfortable.
Special Deal
- Receive 20,000 bonus points when you spend 5 000$ in your first 6 months and 35,000 welcome points upon approval. Apply by September 16, 2022
- For each 1$ spent, earn one RBC Rewards point.
- No seat limits or blackout dates ever!
Fees and Interest rates :
- Annual fee of 120$. 50$ for additional card
- Purchase rate of 19.99%, 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.
The significant benefit of the American Express Cobalt’s flexibility is its high reward rate on regular purchases, mainly in the dining and travel categories.
You may use these points to pay for The Best Hotel Stays and Flights at a rate of 1,000 points for 10$.
AMEX’s Fixed Points Travel Program allows you to redeem points based on a chart system. For round-trip flights receive up to 1.5% per point. You might even (possibly) gain extra value from each of your points.
Fees and Interest rates :
- Monthly fee of 12.99$
- Annual interest rate of 20.99% on purchases, and 21.99% on funds advances.
- No fee for additional cards
To get the best travel credit card in Canada, ScotiaGold American Express Card is another great option. This card offers some great benefits to its users. It has a 120$ annual fee that waives in the first year. It has zero foreign transaction fees.
Also, on foreign currency purchases, including those made online and when traveling overseas, you will not be charged a foreign transaction fee of 2.5% but only the exchange rate.
Fees and Interest rates :
- 120$ annual fee
- Interest rates- (19.99% on purchase, 22.99% on cash advances)
- Minimum credit limit – $5,000
- Each supplementary card – 29$/year
What are the best travel credit cards for you? The basic answer that applies to most people is a rewards credit card. It provides the ability to earn points or miles which can then be redeemed towards travel. However, each person has their own unique set of needs when it comes to travel credit cards due to varying financial situations and spending habits.
In addition to earning rewards, there are ways to maximize the value of your rewards when it comes time to redeem them. There are typically 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. So before you go out and get a new card, be sure to read up on the features of each one—and determine which ones meet your travel needs the most. Once you’ve done that, you’re sure to have a great time on your next trip!
Marysa
This is an awesome strategy for saving on vacations! I wasn’t familiar with these, and it is always nice to have some ways to save.
Linhy Banh
Exactly! There are many ways to save that not everyone knows!
Clarice
This is helpful. I did not realize that I am missing so much by just using my regular CC. Will get in touch with my bank to see if I can get a more travel-friendly card. Thank you for sharing this.
Linhy Banh
Sure! They have many benefits!
Aliya
I’ve never been to Canada but these cards sound amazing. Thanks for sharing.
Linhy Banh
You are welcome! You can also find similar cards with the same benefits in your country!
Akyn FullHouse
Great way to save money to travel. Very informative post to be financially wise in choosing a credit card that best suits for each one’s needs.
Linhy Banh
Thank you! Glad you liked this post!
Julie
Great info! Thanks for sharing!
Linhy Banh
You’re welcome!
Rachel
Wow, I had no idea about all these insurances and protections available!
Linhy Banh
There are so many great benefits most don’t know about! Happy to share with you!
Coffee Money
Interesting to see how Canadian travel credit cards vary from those in the UK in terms of costs and benefits.
Linhy Banh
Yes must be a bit different in cost! But I think you can find the same benefits!
Christine
Great information! Thanks so much! ?
Linhy Banh
You’re welcome! These are definitely great for traveling!
Julie Maloney
This is a great list of credit cards to use for traveling! I am always looking to go to new places, and the ability to save money is just a bonus! Thank you!
Linhy Banh
Thank you! Definitely, cash back on these cards are great!
Josanne
I need to change my credit card to save me some $$ !! Thank you for this list, it is worth looking into!
Linhy Banh
You’re welcome! I’m glad this post helped you decide which card is best!
Jodi
So happy to have found this list – it’s rare to find Canadian related travel tips!!
Linhy Banh
Aw I’m happy you found this post! Thank you for reading!