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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.
Find the best travel credit card and start earning exclusive travel rewards when you make your everyday purchases.
|
Card |
Annual fee |
First year value |
|
$120 |
$1,560 |
|
|
$120 |
$1,024 |
|
|
$139 |
$389 |
|
|
$149 |
$447 |
Cardmembers of the American Express Cobalt Card can earn up to 30,000 bonus Membership Rewards® in the first year. That can equal a travel value of up to $525.
This card is great for earning rewards on everyday purchases, and redemption is made easy. Cardholders can redeem their rewards for almost anything, and members can shop directly through Amazon.ca using their points.
According to our Best of Finance methodology, the average Canadian will see $1,560 in Membership Rewards® points in the first year.
Credit score requirement for approval
Fair: You have had a credit card or loan for one or more years. For the last two years or more, you’ve paid back debts to creditors with no defaults. You haven’t missed more than two payments on your credit in the last three months.
Monthly fee: $10 ($120 per year)
Limited time offer/bonus
Offer expiry date: N/A subject to change without notice
Rewards
Earning potential
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 96,000 Membership Rewards® points
Monetary value= $1,680
Annual fee = $120*
Total earned over the first year (rewards minus annual fee) = $1,560
*The $10 monthly fee was multiplied by 12 months to get the annual fee.
You can redeem your points for:
Insurance:
Other perks:
Apply for the Scotiabank Gold American Express Card and earn 30,000 bonus Scotia Rewards points when you make at least $1,000 in purchases in your first three months. Earn an additional 10,000 Scotia Rewards points bonus when you spend at least $7,500 in purchases in the first year. Plus, pay no foreign transaction fees on purchases made abroad or at foreign merchants online. Although the exchange rate still applies, cardholders will not pay the foreign transaction charges, which are typically around 1.5% to 3% of the purchase price.
Scotiabank Gold American Express® Cardmembers can also take advantage of the Best Price Guarantee on airfare booked through the Scotia Rewards Travel Service and the extensive travel insurance coverage included on the card..
Credit score requirement for approval
Good: You’ve had a credit card or loan for at least six years. You’ve had good credit for the last seven years (no bankruptcies or defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on any existing credit cards for the past three months.
Annual fee: $120
Offer expiry date: August 31, 2021
Rewards
Earning potential
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 74,400 Scotia Rewards points
Monetary value=$744
Total earned over the first year (rewards minus annual fee)=$1,024
You can redeem your points for:
Insurance:
Other perks:
Frequent flyers will enjoy the Scotiabank Passport Visa Infinite Card. Pay no foreign transaction fees on purchases and access a full suite of travel insurance. Plus, get six free lounge visits per year and the Best Price Guarantee on airfare when you book through the Scotia Rewards Travel Service.
Credit score requirement for approval
Excellent: You’ve had a credit card or loan for at least 10 years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on your existing credit cards for the past six months.
Annual fee: $139 - Get your first supplementary card for free. Each additional card has a $50 annual fee.
Limited time offer
Offer expiry date: August 31, 2021
Rewards
Earning potential
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 22,800 Scotia Rewards points
Monetary value=$228
Total earned over the first year (rewards minus annual fee)=$389
You can redeem your points for:
Insurance:
Other perks:
New cardmembers of the HSBC World Elite® Mastercard® can earn up to 40,000 bonus HSBC Rewards points. Get 20,000 points when your application is approved. Earn another 20,000 points when you spend at least $5,000 in the first 180 days. Plus, HSBC will rebate the $149 annual fee for the primary cardholder for the first year.
This card offers no foreign transaction fees on purchases, a $100 travel enhancement credit, and 31-day insurance coverage. Not only that, but it also provides additional savings through Expedia and Agoda, as well as unlimited Wi-Fi through Boingo at over a million hotspots worldwide.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for at least six years. You’ve had good credit for the last seven years (no bankruptcies or defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on any existing credit cards for the past three months.
Annual fee:
$149
Limited time offer/bonus
*This offer is not available to residents of Quebec; however, a different offer does apply.
Offer expiry date: April 19, 2021
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 19,800 HSBC Rewards points
Monetary value=$396
Total earned over the first year (rewards minus annual fee)=$447
*HSBC will rebate the $149 annual fee for the primary cardholder for the first year.
You can redeem your points for:
Insurance:
Other perks:
*Rates, product information and rewards estimates are subject to change at any time and do not constitute financial advice.
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:
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.
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.
