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If you love to explore new places, experience cultures, and take on new adventures, a good travel credit card can make travelling more affordable by allowing you to earn travel reward points and perks with every transaction. Most travel credit cards reward you one point or mile for every dollar you spend. Sometimes more in certain categories of spend. Every travel credit card also comes with its own set of special features and perks that can be helpful when travelling. These can include lounge access, no exchange fees, trip cancellation insurance, travel discounts and more. See which travel credit card is the best for all your personal travel needs by comparing travel credit cards today.
As part of our Best of Finance campaign, our team analyzed over 150 credit cards across 13 categories for the best value, to help take the guesswork out of shopping for a new card.
Our pick for Best Travel Credit Card in Canada for 2020 goes to the
Each travel card comes with its own unique features. When looking at travel credit cards, make sure you know what kind of features you’ll most likely need for your travelling needs.
When you use a travel credit card to pay for your day-to-day credit card purchases, you earn travel rewards such as Air Miles or rewards points on every qualifying purchase. Not to mention the great sign-up bonuses that most travel credit cards come with! With a travel credit card, you can save hundreds of dollars in airfare and other travel related expenses, helping you travel more often,for much less and more comfortably with complimentary insurance and travel benefits. Travel credit cards can also have travel deals such as redeeming points at a discounted rate for a particular destination.
Here are some of the benefits you can expect from a good travel credit card:
Travel credit cards come with a lot of great features. Here’s what you need to know before choosing a travel credit card.
To be eligible for most travel credit cards, you need to have a credit score of 650 or higher. If you have poor or fair credit, you may want to improve your credit score before applying for a travel credit card. You can rebuild your credit before you start looking for a rewards credit card, with a balance transfer credit card, which makes it easier to pay off your bill faster if interest is piling up on you or another option is a secured credit card. Some travel credit cards also require a minimum income; either individual or household income. Be sure to check this required qualification before applying.
Most travel credit cards come with an annual fee ranging from $100-$150. This is because travel credit cards yield high value rewards. Often the rewards value make up for the fee you pay annually given your spend or how cleverly you spend in the categories that earns you multipliers. Therefore, the annual fee is a small price to pay for the exclusive rewards and perks. Some banks and financial institutions may waive the first-year annual fee as part of a sign-up bonus.
