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2024's Best Travel Credit Cards for Canadians

Love to travel? Make travelling more affordable by earning travel rewards with a travel credit card.

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Select your rewards preference

Select your annual fees

The Best of Finance Winners for 2024: Best Travel Credit Cards

  First-year value* Credit score required Winner  
$1,536 Excellent CIBC Aventura® Visa Infinite™ Card
$1,361 Fair American Express Cobalt® Credit Card
$1,024 Good Scotiabank®* Gold American Express® Card
$545 Good MBNA Rewards Platinum Plus® Mastercard®

*The RATESDOTCA Best of Finance methodology assumes the cardholder spends an average of $2,000 a month on their card to determine the first-year value. The calculation includes all welcome bonuses and promotional offers at the time of publishing.

Best Overall Travel Credit Card

With travel resuming all around the globe, having the best travel rewards credit card can help you earn rewards for everyday purchases and redeem them for flights, hotel stays and vacation packages.

Many travel credit cards also feature great additional perks, like shopping coverage, mobile device insurance and exclusive offers.

We compared the top travel credit cards using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

  First-year value Credit score required Top features  
$1,536 Excellent NEXUS Application Fee Rebate, complimentary lounge visits, and travel insurance
$1,460 Good Complimentary DoorDash subscription, instant fuel savings, and comprehensive travel insurance
$1,370 Good Free first checked bag, NEXUS rebate, auto membership and travel insurance

Winner: CIBC Aventura® Visa InfiniteTM Card

Cardholders of the CIBC Aventura® Visa InfiniteTM Card can access loads of travel perks, from four free annual airport lounge passes to a NEXUS application fee rebate every four years. This card also features travel insurance and Visa Infinite benefits, such as complimentary breakfast at over 900 properties worldwide and exclusive tours of Wine Country.

Pay no booking fees through the Aventura Travel Assistant and use points to cover airfare costs, including taxes and fees.

According to our Best of Finance methodology, the average Canadian would earn around $1,536 in rewards in the first year.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$850
+ Annual rewards
$675
- Annual fee (First Year Rebated)
$0
Total first year value
$1525
CIBC Aventura® Visa Infinite*

card image
Welcome bonus
$850
CIBC Aventura Rewards points
Annual rewards
$675
CIBC Aventura Rewards points
Annual fees:
$139 (First Year Rebated)
Interest rates:
20.99% on purchases • 22.99% on cash advances
This offer is not available for residents of Quebec.
2024 Winner – Best Overall Travel Credit Card and Best Overall Visa Credit Card
Earn points on all purchases and redeem on travel or statement credits
Details at a glance Collapse details
Welcome bonus
$850
Annual rewards
$675
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$850
+ Annual rewards
$675
- Annual fee (First Year Rebated)
$0
Total first year value
$1525
Annual fees:
$139 (First Year Rebated)
Interest rates:
20.99% on purchases
22.99 on cash advances
This offer is not available for residents of Quebec.
2024 Winner – Best Overall Travel Credit Card and Best Overall Visa Credit Card
Earn points on all purchases and redeem on travel or statement credits
Details at a glance Collapse details

Annual fee

$139 (First year rebated)

Interest rate

Purchase – 20.99%

Cash advance – 22.99% (21.99% for QC residents)

Balance transfer – 22.99%

Welcome bonus

  • Get a total of up to 40,000 Aventura points (up to $850 in travel value) during your first year
  • 20,000 Aventura points when you make your first purchase
  • 20,000 Aventura points when you spend $1,000 monthly or more during the first year
  • Get a one-time annual fee rebate ($139) for you (the primary cardholder) and up to three authorized users ($50 each): over $189 value
  • Elevate your airport experience with 4 complimentary visits at 1,200+ lounges globally through Visa Airport Companion Program: over $190 in value.†
  • Plus, get a NEXUS Application Fee rebate: a $50 value

Offer expiry date: N/A - Offer subject to change

Rewards

  • Earn two points for every $1 spent on travel through the CIBC Rewards Centre.
  • Earn 1.5 points for every $1 spent at eligible gas stations, grocery stores and drugstores.
  • Earn one point for every $1 spent on all other purchases.

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 = $1,525
Annual fee = $139 (First year rebated)

Interest rate = Purchase – 20.99%, Cash advance – 22.99% (21.99% for QC residents), Balance transfer – 22.99%


Total earned over a 12-month period (rewards minus annual fee) = $1,525

Benefits

  • Access to the Aventura Travel Assistant
  • Access to the Visa Infinite Travel program and the Visa Infinite Concierge services
  • NEXUS application fee rebate once every 4 years.

Insurance 

  • Travel insurance with out-of-province emergency travel medical coverage
  • Trip cancellation/trip interruption insurance
  • Car rental collision/loss damage insurance
  • Flight delay and baggage insurance
  • Hotel burglary insurance charge
  • Mobile device insurance

Runners-up: Best Overall Travel Credit Card

RBC Avion® Visa Infinite

With the RBC Avion® Visa Infinite, you can earn reward points and redeem them for a variety of great rewards such as travel tickets, gift cards, merchandise or cash back. As a cardholder, you have no blackouts or seat restrictions. If you find an open seat, you can use your rewards to book it – even during peak seasons. Best of all, flights start as low as 15,000 RBC rewards points.

According to our Best of Finance methodology, the average Canadian could earn around $1,460 in rewards in the first year.

Annual fee

$120

Limited time offer/bonus: Get up to 55,000 Avion points* (a value of up to $1,100), which is enough to fly anywhere in North America or the Caribbean.

Offer Expiry Date: April 30, 2024

Rewards

  • Earn one RBC Rewards point for every $1 spent on the card.
  • Earn an extra 25% on eligible travel-related purchases.
  • Earn an extra 20% at Petro-Canada.

TD®  Aeroplan® Visa Infinite* Card

Get Air Canada benefits with the TD® Aeroplan® Visa Infinite* Card, including some shared perks for travelling companions. Access travel insurance and exclusive Visa Infinite benefits like the Visa Infinite Luxury Hotel Collection and Visa Infinite Wine Country Program for savings and upgrades.

Plus, get a NEXUS application fee rebate every 48 months when you enroll. This benefit also applies to additional cardholders.

According to our Best of Finance methodology, the average Canadian could earn around $1,370 in rewards in the first year.

Annual fee

$139 (First Year Rebate)

Limited time offer/bonus

  • Earn up to 40,000 Aeroplan points. Get 10,000 Aeroplan points when you make your first purchase. Get 20,000 Aeroplan points if you spend $5,000 within 180 days of opening your account. Plus, earn 10,000 when you spend $7,500 within 12 months of opening the account.

Terms and Conditions

Terms and conditions apply. This offer is not available for residents of Quebec. For Quebec residents, please click here.

Offer expiry date: March 4, 2024

Rewards

  • Earn 1.5 points for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases.
  • Earn one point for every $1 spent on all other purchases.

Best Credit Card for Earning Travel Points

Travel programs typically offer the best redemption value of all rewards credit cards. Whether they offer rewards, points or miles, these cards will always provide more value than cashback cards (even if the flexibility the latter provides is nice to have).

Most programs allow members to redeem rewards for flights, vacation packages, upgrades and other travel savings. Some programs also allow point conversions to other popular travel programs. Additionally, many of our top picks feature insurance coverage and exclusive offers like lounge access or benefits at hotels and resorts.

We compared Canada’s leading travel credit cards and ranked them according to first-year value.

  First-year value Credit score required Top features  
$1,361 Fair Flexible rewards points + travel insurance.
$1,024 Good High rewards rates and great travel perks such as no foreign exchange fees and travel insurance.
$1,525 Excellent Generous welcome offer and NEXUS fee rebate.

Winner: American Express Cobalt® Credit Card

The American Express Cobalt® Credit Card is one of the best cards for amassing rewards, offering cardholders five points for every $1 spent on restaurants and food deliveries, three points for every $1 spent on eligible streaming subscriptions, two points for every $1 spent on eligible travel and transit and one point for every $1 spent anywhere else.

Not only that, but the Membership Rewards® program is incredibly flexible, allowing members to redeem points for almost anything — travel, merchandise and more. Eligible cards, including the American Express Cobalt® Credit Card, can access the Fixed Points Travel Program and American Express Travel Online for travel offers and special rates. Cardholders can even use Membership Rewards® to pay for taxes, fees and carrier surcharges.

According to our Best of Finance methodology, the average Canadian could earn around $1,361 in rewards in the first year.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$362
+ Annual rewards
$1155
- Annual fee
$156
Total first year value
$1361
American Express Cobalt® Credit Card

card image
Welcome bonus
$362
AMEX Rewards points
Annual rewards
$1155
AMEX Rewards points
Annual fees:
$156
Interest rates:
20.99% on purchases • 21.99% on cash advances
2024 Winner – Best Overall Rewards Credit Card, Best Credit Card for Young Professionals, and Best Credit Card for Earning Travel Points and Best American Express Credit Card.
Particularly great for individuals who live in the city, eat out often or order in.
Details at a glance Collapse details
Welcome bonus
$362
Annual rewards
$1155
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$362
+ Annual rewards
$1155
- Annual fee
$156
Total first year value
$1361
Annual fees:
$156
Interest rates:
20.99% on purchases
21.99 on cash advances
2024 Winner – Best Overall Rewards Credit Card, Best Credit Card for Young Professionals, and Best Credit Card for Earning Travel Points and Best American Express Credit Card.
Particularly great for individuals who live in the city, eat out often or order in.
Details at a glance Collapse details

Annual fee 

$156*

Welcome bonus

In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets.

Rewards

5x AMEX Membership Rewards (spend caps apply):

  • Groceries
  • Restaurants
  • Bars
  • Food Delivery

3x AMEX Membership Rewards:

  • Select streaming services

2x AMEX Membership Rewards:

  • Transit and Ride Shares
  • Gas

1 additional AMEX Membership Reward:

  • Eligible Hotel and Car Rental bookings via American Express Travel Online

1x AMEX Membership Rewards:

  • All other purchases

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 + Welcome Bonus = $1,155 + $362 = $1,517

Annual fee = $156

Total earned over a 12-month period (rewards minus annual fee) = $1,361

Benefits

  • Enjoy access to hotel bookings, and up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel
  • Access Front Of The Line® Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with American Express® Experiences
  • Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
  • Transfer points 1:1 to several frequent flyer and other loyalty programs

Insurance coverage

  • Purchase Protection - 90 days
  • Extended Warranty - 1 year
  • Travel Accident - $250,000
  • Emergency Medical Term - 15 days
  • Flight Delay - $500
  • Baggage Delay - $500
  • Lost or Stolen Baggage - $500
  • Hotel Burglary - $500
  • Rental Car Theft & Damage
  • Mobile Device - $1,000

Want to learn more about how the American Express Cobalt® Credit Card stands up against the competition? Read more from our "In the Ring" series:

In the Ring: American Express Cobalt® Credit Card vs. Scotiabank Gold American Express Card

Runners-up: Best Credit Card for Earning Travel Points

Scotiabank®* Gold American Express® Card

The Scotiabank®* Gold American Express® Card is great for travellers looking to use rewards to book their next vacation or make purchases abroad. This card is one of the few that offers no foreign transaction fees, meaning you’ll only pay the exchange rate and Amex won’t charge you for having to make the conversion.

Earn five Scotia Scene+ points for every $1 spent on eligible groceries, dining in or out and entertainment purchases. Collect three Scotia Scene+ points for every $1 spent on gas, public transit or streaming services. Earn one Scotia Scene+ point per dollar spent on everything else.

Based on our Best of Finance methodology, the average Canadian can earn $1,024 in Scotia Scene+ points within the first year.

Annual fee 

$120

Welcome bonus

Earn up to $650 in value in the first 12 months, including up to 40,000 bonus Scene+ points. Offer ends July 1, 2024.

Rewards

6x Scotia Scene+ points at select grocery stores

5x Scotia Scene+ points from groceries, restaurants and entertainment

3x Scotia Scene+ points from gas, daily transit and select streaming services

1x Scotia Scene+ points for all other purchases

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 + Welcome Bonus = $744 + $400 = $1,144

Annual fee = $120

Total earned over a 12-month period (rewards minus annual fee) = $1,024

Want to learn more about how the Scotiabank®* Gold American Express® Card stands-up against the competition? Read more from our "In the Ring" series:

In the Ring: American Express Cobalt Credit Card vs. Scotiabank Gold American Express Card

CIBC Aventura® Visa Infinite* Card

Cardholders of the CIBC Aventura® Visa Infinite Card can access loads of travel perks, from four free annual airport lounge passes to a NEXUS application fee rebate every four years. This card also features travel insurance and Visa Infinite benefits, such as complimentary breakfast at over 900 properties worldwide and exclusive tours of Wine Country.

Pay no booking fees through the Aventura Travel Assistant and use points to cover airfare costs, including taxes and fees.

According to our Best of Finance methodology, the average Canadian would earn around $1,525 in rewards in the first year.

Annual fee 

$139 (first year rebated!)

Welcome bonus

Join and get over $1,250 in value including a first year annual fee rebate!†

Get a total of up to 40,000 Aventura Points (up to $850 in travel value):

  • 15,000 Aventura Points when you make your first purchase.
  • 5,000 Aventura Points when you make your first purchase within the first 4 months.
  • 20,000 Aventura Points when you spend $3,000 or more in the first 4 monthly statement periods.
  • Get a one-time annual fee rebate ($139) for you (the primary cardholder) and up to three authorized users ($50 each): over $189 value.

Rewards

Earn:

  • 2 points for every $1 spent on travel purchased through the CIBC Rewards Centre
  • 1.5 points for every $1 spent at eligible gas stations and EV charging, grocery stores and drug stores
  • 1 point for every $1 spent on all other purchases

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 + Welcome Bonus = $675 + $850 = $1,525

Annual fee = $156 (first year rebated!)

Total earned over a 12-month period (rewards minus annual fee) = $1,525

Best Credit Card With No Foreign Transaction Fees

Travellers can forgo the foreign currency exchange line and pack a much smaller wallet for their next trip. These credit cards offer no foreign transaction fees on purchases, sparing cardholders the extra 1.5% to 3% providers typically charge. Only the exchange rate applies.

Cardholders also get the added convenience of tracking all their transactions from little trips to the grocery store, tours and excursions all in one place. Plus, travellers won’t get stuck with extra foreign coins and bills at the end of their trip.

These credit cards also feature various benefits and travel insurance to help make trips more comfortable and carefree. Spend points on flights, rental cars, hotel stays or merchandise and get the most out of your next adventure.

We compared the top credit cards with no foreign transaction fees using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

  First-year value Credit score required Top features  
$1,024 Good Flexible Scotia rewards program + no foreign transaction fees.
$654 Excellent Offers great insurance and a Priority Pass package, in addition to no foreign transaction fees.
$240 Good Includes purchase protection insurance and earns you 1% cash back rewards on every purchase, in addition to no foreign transaction fees.

Winner: Scotiabank®* Gold American Express® Card

The Scotiabank®* Gold American Express® Card offers a great return on spending. Earn five Scotia Scene+ points for every $1 spent on groceries, restaurant, food delivery and entertainment purchases. Get three Scotia Scene+ points for every $1 spent on gas, daily transit purchases and select streaming services and earn one Scotia Scene+ point for every $1 spent everywhere else.

Cardholders pay no foreign transaction fees on foreign currency purchases, typically around 2.5%. Only the exchange rate applies. Plus, access discounts through the Scotia Rewards Travel Service and get a wide range of travel insurance through the card.

According to our Best of Finance methodology, the average Canadian would earn around $1,024 in rewards in the first year.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$400
+ Annual rewards
$744
- Annual fee
$120
Total first year value
$1024
Scotiabank®* Gold American Express® Card

card image
Welcome bonus
$400
Scotia Scene+ Points
Annual rewards
$744
Scotia Scene+ Points
Annual fees:
$120
Interest rates:
20.99% on purchases • 22.99% on cash advances
2024 Winner – Best No Foreign Transaction Fees Credit Card for Long Stay Travellers and Best Credit Card for Subscriptions
Earn valuable rewards points on a wide variety of categories that you can redeem for travel, cash back and more
Details at a glance Collapse details
Welcome bonus
$400
Annual rewards
$744
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$400
+ Annual rewards
$744
- Annual fee
$120
Total first year value
$1024
Annual fees:
$120
Interest rates:
20.99% on purchases
22.99 on cash advances
2024 Winner – Best No Foreign Transaction Fees Credit Card for Long Stay Travellers and Best Credit Card for Subscriptions
Earn valuable rewards points on a wide variety of categories that you can redeem for travel, cash back and more
Details at a glance Collapse details

Annual fee 

$120

Welcome bonus

Earn up to $650 in value in the first 12 months, including up to 40,000 bonus Scene+ points. Offer ends July 1, 2024.

Rewards

6x Scotia Scene+ points:

  • Select grocery stores

5x Scotia Scene+ points:

  • Groceries
  • Restaurants
  • Entertainment

3x Scotia Scene+ points:

  • Gas
  • Daily transit
  • Select streaming services

1x Scotia Scene+ point:

  • All other purchases

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 + Welcome Bonus = $744 + $400 = $1,144

Annual fee = $120

Total earned over a 12-month period (rewards minus annual fee) = $1,024

Benefits

  • No foreign transaction fees - including online shopping
  • Amex exclusive benefits (Front Of The Line)
  • 24/7 concierge service
  • Discount on the Priority Pass membership

Insurance coverage

  • Purchase Protection - 90 days
  • Extended Warranty - 1 year
  • Travel Accident - $500,000
  • Emergency Medical Term - 25 days
  • Trip Cancellation - $1,500
  • Trip Interruption - $1,500
  • Flight Delay- $500
  • Baggage Delay - $1,000
  • Lost or Stolen Baggage - $1,000
  • Rental Car Theft & Damage

Want to learn more about how the Scotiabank®* Gold American Express® Card stands up against the competition? Read more from our "In the Ring" series:

In the Ring: American Express Cobalt® Credit Card vs. Scotiabank Gold American Express Card

Runners-up: Best Credit Card With No Foreign Transaction Fees

Scotiabank Passport™ Visa Infinite* Card

The Scotiabank Passport™ Visa Infinite* Card can earn you up to 40,000 bonus Scotia Scene+ points and the $150 annual fee waived in the first year. Regularly earn two Scotia Scene+ points for every $1 spent on eligible grocery, dining, entertainment and daily transit purchases. Get one Scotia Scene+ point for every $1 spent everywhere else.

Cardholders can access an array of Visa Infinite exclusive offers and collections, as well as a full suite of travel services. Not only that, but this card also offers no foreign transaction fees and several complimentary memberships to help make travel more convenient and comfortable.

According to our Best of Finance methodology, the average Canadian would see around $654 in Scotia Scene+ points within the first year.

Annual fee 

$150 (first year waived)

Welcome bonus

Earn up to $1,300* in value in the first 12 months, including up to 40,000 bonus Scene+ points and first year annual fee waived¹. Offer ends July 1, 2024.

Rewards

3 Scotia Scene+ Points earned for every $1 spent at on:

  • Select grocery stores

2 Scotia Scene+ Points earned for every $1 spent at on:

  • Groceries
  • Dining
  • Entertainment
  • Transit  

1x Scotia Scene+ Point:

  • All other purchases

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 + Welcome Bonus = $354 + $300 = $654

Annual fee = $150 (waived in the first year)

Total earned over a 12-month period (rewards minus annual fee) = $654

Home Trust Preferred Visa Card

The Home Trust Preferred Visa Card offers no foreign transaction fees on purchases made in foreign currency, which can save cardholders money abroad and online. Plus, cardholders get 1% cash back on all eligible purchases without category restrictions or limits to how much they can earn.

According to our Best of Finance methodology, the average Canadian would earn just under $240 within the first year.

Annual fee 

$0

Rewards

Receive: 

  • 1% cash back earn on all eligible purchases

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 + Welcome Bonus = $240 + $0 = $240

Annual fee = $0

Total earned over a 12-month period (rewards minus annual fee) = $240

Benefits

  • 0% foreign currency conversion charge on purchases abroad.

Insurance coverage

  • Purchase Protection - 90 days

Best No-Fee Travel Credit Card

Access the top travel rewards programs with these no-fee cards. While this batch of cards have slightly lower earn rates than their counterparts with a fee, they still provide excellent value and great perks.

Plus, these cards can slide into your wallet as a primary or secondary credit card, and you don’t have to worry about another annual expense. You can use the card as often or sparingly as you like without having to justify its worth.

We compared the top no-fee travel credit cards using our Best of Finance methodology and ranked the cards that provided the highest value while also considering additional complimentary travel perks and benefits.

  First year value* Annual fee Top features  
$645 $0 Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days (until $10,000 is spent annually in the applicable category)
$527 $0 Earn 1 Aventra point for every $1 spend on gas, EV charging, groceries and drugstore purchases
$454 $0 Earn 2 points for each $1 spend on a wide variety of categories

Winner: MBNA Rewards Platinum Plus® Mastercard®

The MBNA Rewards Platinum Plus® Mastercard® offers cardholders four points for every $1 spent on eligible grocery, restaurant, digital media, membership, and household utility purchases for the first 90 days, up to $10,000 in each category. After, earn two points for every $1 spent in these categories ($10,000 annual cap in each category) and one point for every $1 spent on all other purchases.

This card also features $1,000,000 travel accident insurance, unexpected return home insurance and car rental accident insurance.

According to our Best of Finance methodology, the average Canadian would earn around $545 in rewards in the first year.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Cash bonus
$100
+ Welcome bonus
$205
+ Annual rewards
$340
- Annual fee
$0
Total first year value
$645
MBNA Rewards Platinum Plus® Mastercard®

card image
Welcome bonus
$205
MBNA Rewards points
Annual rewards
$340
MBNA Rewards points
Annual fees:
$0
Interest rates:
19.99% on purchases • 24.99% on cash advances
Get a $100 Cash Bonus from RATESDOTCA (Offer ends March 29, 2024)
2024 Winner - Best No-Fee Travel Credit Card
Details at a glance Collapse details
Welcome bonus
$205
Annual rewards
$340
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Cash bonus
$100
+ Welcome bonus
$205
+ Annual rewards
$340
- Annual fee
$0
Total first year value
$645
Annual fees:
$0
Interest rates:
19.99% on purchases
24.99 on cash advances
Get a $100 Cash Bonus from RATESDOTCA (Offer ends March 29, 2024)
2024 Winner - Best No-Fee Travel Credit Card
Details at a glance Collapse details

Annual fee

$0

Welcome bonus

  • 5,000 bonus points†† after you make $500 or more in eligible purchases within the first 90 days (about 3 months) of your account opening. Plus, 5,000 bonus points†† once enrolled for paperless e-statements within the first 90 days (about 3 months) of account opening.
  • And 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days (until $10,000 is spent annually in the applicable category.)

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

Rewards

2x points for every $1 spent on:

  • Groceries
  • Restaurants
  • Memberships and digital media
  • Household utilities

1x point for every $1 spent on all other eligible purchases.

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 + Welcome bonus = $205 + $340 = $545
Annual fee= $0
Total earned over the first year (rewards minus annual fee) = $545

Benefits

  • Annual Birthday Bonus Points‡ equal to 10% of the total number of Points earned in the 12 months before the month of your birthday (maximum 10,000 Points)
  • Discounts at Avis Rent A Car and Budget Rent A Car locations

Insurance coverage

  • Mobile device insurance - $1,000
  • Purchase protection - 90 days (about 3 months)
  • Extended warranty - 1 Year

Runners-up: Best No-Fee Travel Credit Card

CIBC Aventura Visa Card

The CIBC Aventura Visa offers good value for globe-trotters who want to maximize travel rewards and minimize fees. The Aventura points you earn with this no-fee travel card never expire, there are no blackout periods, and you can choose from hundreds of airlines. Flights start from as low as 10,000 points (short-haul flights in Canada and the U.S.)  Earn double the points when you spend on eligible grocery stores, gas stations, and electric charging stations up to a spend of $6,000.

According to our Best of Finance methodology, the average Canadian would earn around $527 in rewards in the first year.

Annual fee

$0

Limited time offer/bonus

  • Join and get up to $100 in value for no annual fee.

Offer expiry date: NA – Ongoing Offer

Rewards

  • 1 point (a value of $1) on key categories like gas, grocery, drugstore, and travel.

Scotiabank®* American Express® Card

The Scotiabank®* American Express® Card is a no annual fee travel credit card that allows you to rack up Scotia Scene+ points for flexible redemption offers and enjoy exclusive Amex perks such as, Amex Invites and reserved tickets access. Not to mention you’ll also get access to Scotia’s exclusive travel agency.

According to our Best of Finance methodology, the average Canadian would earn around $454 in rewards in the first year.

Annual fee

$0

Limited time offer/bonus

Earn up to 7,000 bonus Scotia Scene+ points within your first year (that's up to $70 towards travel).

Offer expiry date: February 29, 2024

Rewards

  • 2x points per $1 spent on eligible gas, groceries, restaurants, entertainment, transit and select streaming services
  • 1x points per $1 spent on all purchases.

Travel credit cards come with a lot of great features. Here’s what you need to know before choosing a travel credit card.

Am I be eligible for 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.

Do travel credit cards come with an annual fee?

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.

Pros and cons of travel credits cards

If you’re a frequent flyer, using a travel credit card can help you access a variety of travel rewards and benefits, such as travel rewards points, hotel upgrades, complimentary lounge access and much more. There are also a few thing to consider before you apply for one.

Here are the main pros and cons of using a travel credit card.

Pros of using a travel credit card

  1. Higher earn rates: Popular travel credit cards offer high earning rates for points on every dollar spent, allowing you to earn points faster than other rewards cards.
  2. Welcome bonus offers: Travel credit cards usually come with great bonus offers such as introductory bonus points or gift cards. Such big bonus offers can quickly catapult you in your path towards redeeming big rewards and offset the annual fee
  3. Travel rewards: Most travel credit cards offer points or travel miles each time you make payments through your travel credit card, allowing you to rack up travel rewards that can make your trips more enjoyable. Some points programs also offer non-travel rewards such as gift cards, consumer goods, or statement credits, allowing you to choose what you like to redeem your points for.
  4. Insurance coverage: Many travel credit cards come with a variety of travel insurance benefits such as trip cancellation, accident coverage, lost baggage coverage and car rental insurance. If you tend to travel frequently, such travel insurance coverages will reduce, or even eliminate, the costs associated with such trip disruptions.
  5. Perks: Your travel credit card can also come with attractive perks such as complimentary airport lounge access, hotel room upgrades and discounts on fine dining and entertainment. Such credit card perks can elevate your travel experience to a whole new level.
  6. Brand partnerships: Several credit card providers team up with brands to offer you brand loyalty rewards such as Air Mile bonus points, Air Canada discounts, Marriott hotel upgrades, and Visa fine dining events. So, if you’re interested in a particular brand or are already earning perks through them, a travel credit card partnered with them can boost your rewards redemption rate.

Cons of using a travel credit card

  1. Fluctuating rewards programs: One thing to keep in mind is that travel credit cards aren’t always consistent, and their offers and points values can change suddenly. Such changes can potentially decrease the value of the points you’ve already earned and make the rewards redemption rate slower than before.
  2. Blackout dates: Also, some travel credit card rewards programs may include blackout dates, meaning you cannot take advantage of some of the perks during that period. These blackout dates usually occur during peak travel seasons like the holidays. Ask the credit card provider for more information about blackout dates.
  3. High annual credit card fee: Many travel credit cards come with a high annual fee, which can sometimes seem to outweigh the overall pros of the card if you’re not earning rewards points. If you’re planning on using a travel card as your main credit card and you think you’ll be able to offput the fees with points earned, then it may be worth getting the card.
  4. High interest charges: If you carry a balance month-to-month on a travel credit card — or on any rewards card — interest will compound, making it harder to pay off your card. Not only that, but the interest also you rack up will cancel out any points you’ve earned.
  5. Foreign transaction fees: Some travel credit cards may come with a foreign transaction fee, which will be applied to all non-CAD purchases, whether in-store or online. This fee can be as high as 3% for some travel credit cards. If you want to use your credit card for frequent foreign currency purchases, look for a travel credit card with no foreign transaction fees.
  6. Mainly travel related rewards: Most travel credit cards mainly offer travel related rewards and benefits such as travel miles and travel insurance. If you’re looking for rewards such as cash back, you might want to reconsider getting a travel rewards card.

RATESDOTCA may receive compensation when you click on links to those products or services. However, our content and calculations are objective and free from bias. The opinions expressed are purely those of RATESDOTCA; thus, partners are not responsible for any editorials or reviews that may appear. For current term and conditions on any advertiser or partner’s product, please visit their website.

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