The Best Travel Credit Cards in Canada

However, with so many different kinds of credit cards out there, are they all created equally? In this WealthRocket article, we weigh both sides of the proverbial equation, while considering your personal interests to determine the best travel credit cards in Canada.

2. Best Travel Credit Card for Points: Scotiabank Passport Visa Infinite Card

• Minimum Limit: $5,000
• Personal Income Requirement: $60,000
• APR: 19.99%*
• Annual Fee: $139
• Bonus Features: 25,000 bonus Scotia Rewards from $1,000 in everyday eligible purchases in the first three months

The Scotiabank Passport Visa Infinite is a fan favorite on the travel credit card scene, having won itself the title of “Best Travel Card 2020” from MoneySense, and “Best Travel Perks Card” from Ratehub.ca. But, how does its performance hold up to these accolades?

Pretty well, it turns out. For one thing, the Scotiabank Passport Visa Infinite is unique among rewards credit cards for offering its holder zero foreign transaction fees.

This feature is a huge benefit to those who partake in a lot of international travel and find themselves making a lot of purchases in foreign currencies, as these transaction fees can quickly add up.

As far as rewards go, cardholders benefit from 2 Scotia Rewards* for every dollar spent in qualifying categories (restaurants, groceries, entertainment, and transit).

Any other purchase will still result in 1 Scotia Reward* per dollar spent. Cardholders will find it easy to redeem their points through the Scotia Rewards Portal.

*Rates current as of June 2021

4. Best Travel Credit Card Sign-Up Offer: BMO World Elite Mastercard

• Minimum Limit: N/A
• Personal Income Requirement: $80,000
• APR: 19.99%
• Annual Fee: $150
• Bonus Features: Temporary welcome bonus of 40,000 points (or $284)

The revered BMO World Elite Mastercard is somewhat of a “magnum opus” of all travel credit cards, and it’s easy to see why.

With 3 points earned per every dollar in eligible purchases and 2 points per dollar for all other purchases, this card comes packed with an enticing rewards structure. However, the card shines when it comes to its travel perks.

For example, the card comes with a comprehensive travel insurance offering that is hard to beat.

Cardholders who use the BMO World Elite Mastercard to purchase travel include up to 21 days of emergency medical insurance, as well as up to $2,000 of trip cancellation fees and $750 of personal effect coverage.

While this last benefit may not seem like a lot, it’s quite rare in the credit card world. Avid travelers will also appreciate the fact that this card will allow them access to Mastercard’s Priceless Cities and World Mastercard Experiences, as well as four passes to Mastercard Airport Experiences airport lounges. The card also comes with a 24/7 concierge.

While these benefits certainly are helpful, the card’s $150 annual fee and high income required may not make it a realistic option for many people.

*Rates current as of June 2021

5. Best Travel Credit Card for Air Miles: American Express Air Miles Platinum Credit Card

• Minimum Limit: N/A
• Personal Income Requirement: N/A
• APR: 20.99%
• Annual Fee: $120
• Bonus Features: Sign-up bonus of 3,000 points when $1,500 worth of purchases are made in the first three months

Air Miles is a popular name in the travel world. This American Express card is the fastest way for Canadians to turn their expenses into the world’s most recognizable travel points system.

If you are in the habit of redeeming Air Miles, this is by far the best way to go about doing so, as this card will grant you access to some of the best-earning rates in the industry.

On top of this great Air Mile rate, cardholders will also benefit from a 25%* redemption bonus whenever they redeem their Air Miles towards travel. Also included is theft and damage coverage for car rentals as well as travel accident coverage.

The card will also automatically extend a manufacturer’s warranty for an additional year and offers your standard purchase protection plan.

This card is undoubtedly the best way to earn Air Miles with a credit card in Canada.

However, customers seeking more comprehensive insurance offerings, such as trip cancellation insurance or emergency medical insurance, may be better off using a different card.

*Rates current as of June 2021

6. Best Travel Credit Card for Booking Flights: TD Aeroplan Visa Infinite Card

• Minimum Limit: N/A
• Personal Income Requirement: $60,000
• APR: 19.99%
• Annual Fee: $139
• Bonus Features: 10,000 Aeroplan points with the cardholder’s first purchase, an additional 10,000 Aeroplan points, and a Buddy Pass if you spend $1,000 within a month of opening your account, new signups receive the first year free

The TD Aeroplan Visa Infinite Card is the travel card offered by TD Canada Trust and linked to the Aeroplan program, a points redemption system used by the country’s national airline, Air Canada.

The TD Aeroplan Visa Infinite Card offers its cardholders 1.5 points per every $1 spent on eligible purchases (gas, grocery, and aircanada.com travel purchases). Every other purchase category will earn you 1 Aeroplan point per $1 spent.

This credit card also offers some of the best insurance coverages on the market, with up to $1 million in travel medical emergency coverage for up to 21 days (4 days for those over 65), up to $500,000 in travel accident coverage, and $1,500 in trip cancellation, to name a few.

Other insurance benefits include car rental insurance, flight and trip delay insurance, delayed or lost baggage insurance, and even stolen item insurance.

The card’s benefits don’t end here. Air Canada fliers will also be delighted to get their first bag checked for free, as well as 24/7 emergency travel assistance. It is easy to see how these perks add up to justify the $139 yearly fee.

Even if you do not fancy yourself a jetsetter, it makes sense to add a travel credit card to your wallet just for the reward perks alone. Things like travel insurance and concierge services simply come as a bonus, and if you find yourself in a position where you need one, you will be sure to thank your former self for your foresight.

*Rates current as of June 2021

If you’re looking to find a credit card with travel incentives, you’ll face no shortage of fruitful options available to Canadians. Many travel credit card options can add that extra push to your spending before and after your next adventure.However, using a credit card properly, whether it’s for travel or otherwise, is the smartest decision anyone can make for themselves.

Spending within your means and paying your bill in full will eclipse any rewards that a credit card of any type can offer.