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Get a $25 Cash Bonus
Earn up to 15% cashback on first-time purchases at Neo partners
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Get a $125 Cash Bonus
Earn an extra 10% back* (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.* (Apply by October 31, 2023)
Plus, During your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that)†.
Get a $100 Cash Bonus
Earn an extra 10% back* (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.* (Apply by October 31, 2023).
Plus, during your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that)†.
| First-year value* | Credit score required | Winner | ||
|---|---|---|---|---|
| $1,525 | Excellent | CIBC Aventura® Visa Infinite™ Card | ||
| $1,524 | 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.
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 | ||
|---|---|---|---|---|
| $1,525 | Excellent | 4 lounge passes annually + NEXUS application fee rebate + travel insurance. | ||
|
Runner up |
$1,460 | Good | Take advantage of the most flexible travel rewards programs. Enjoy mobile insurance coverage, a Door Dash subscription and fuel savings. | |
|
Runner up |
$1,570 | Good | Share travel perks with your travel companions + access Air Canada benefits + travel insurance. |
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 $1,525 in rewards in the first year.
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
Offer expiry date: N/A - Offer subject to change
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 = $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
Insurance
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 $1,570 in rewards in the first year.
Annual fee
$139 (First Year Rebate†)
Limited time offer/bonus
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: January 3, 2024
Rewards
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. With this travel credit card, 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.
Annual fee
$120
Limited time offer/bonus: Receive up to 55,000 welcome RBC Rewards points upon approval (up to a $1,100 value).
Offer Expiry Date: November 27, 2023
Rewards
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 | ||
|---|---|---|---|---|
| $1,524 | 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. | ||
|
Runner up |
$1,570 | Good | Generous welcome offers, NEXUS rebate and travel insurance. |
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.
There are three ways to redeem points for travel. You can sign up for the Fixed Points Travel Program (where 1 point = $0.0175) or redeem points with American Express hotel partners (1 point = $0.016). Or, you can do your own thing and make purchases outside the Amex partner network (1 point = $0.01).
According to our Best of Finance methodology, the average Canadian could earn around $999 in rewards in the first year.
Annual fee
$155.88 ($12.99 per month)
Annual fee for additional cardholders: $0
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 = $156*
Total earned over a 12-month period (rewards minus annual fee) = $ 1, 524
* The American Express Cobalt® Credit Card has a $12.99 monthly fee ($155.88 per year).
You can redeem your points for:
Insurance
Other perks
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
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 $1,144 in Scotia Scene+ points within the first year.
Annual fee
$120
Annual fee for additional cardholders: $29
Limited time offer/bonus
Offer expiry date: October 31, 2023
Rewards
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
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 $1,570 in rewards in the first year.
Annual fee:
$139 ( First Year Rebate† )
Limited time offer/bonus:
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: January 3, 2024.
Rewards
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. | ||
|
Runner up |
$597 | Good | A $100 annual travel enhancement credit + no foreign transaction fees. | |
| $654 | Excellent | Flexible Scotia rewards program + no foreign transaction fees. |
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 $1,144 in rewards in the first year.
Annual fee
$120
Annual fee for additional cardholders: $29
Limited time offer/bonus
Offer expiry date: October 31 2023
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 = 114,400 Scotia Scene+ points
Monetary value = $1,144
Annual fee = $120
Total earned over the first year (rewards minus annual fee) = $1,024
*The $120 annual fee is waived for the first year.
You can redeem your points for:
Insurance
Other perks
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
The HSBC World Elite® Mastercard® offers six points for every $1 spent on eligible travel purchases and three points for every $1 spent on all other purchases. Cardholders can redeem points for travel, merchandise and financial rewards or convert rewards into miles.
This card also features excellent perks and benefits. Cardholders get a $100 annual travel enhancement credit for seat upgrades, baggage fees, lounge passes and other travel luxuries. Get complimentary membership of Mastercard Airport Experiences Provided by LoungeKey, unlimited Wi-Fi through Boingo at over one million hotspots worldwide and discounts on hotel bookings through Expedia and Agoda. Plus, pay no foreign exchange fees on purchases made abroad or online. Only the exchange rate applies.
According to our Best of Finance methodology, the average Canadian could earn around $647 in rewards in the first year.
Annual fee
$149
Limited time offer/bonus
Rewards
Apply for the Scotiabank PassportTM Visa Infinite* Card to earn up to 45,000 bonus Scotia Scene+ points 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 (Waived in the first year)
Annual fee for additional cardholders:
Limited time offer/bonus
Offer expiry date: April 30, 2023
Rewards
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* | Credit score required | Top features | ||
|---|---|---|---|---|
| $545 | Good | Enjoy the flexible MBNA Rewards program and a generous welcome bonus. Enjoy basic travel insurance. | ||
|
Runner up |
$504 | Good | Earn Scotia Scene+ points and redeem them for travel, gift cards and much more. Enjoy exclusive Amex perks. | |
|
Runner up |
$348 | Good | Fuel and food delivery perks and flexible Avion rewards points. |
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.
Annual fee
$0
Welcome bonus
This offer is not available for residents of Quebec. For residents of Quebec, please click here.
Rewards
2x points for every $1 spent on:
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
Insurance coverage
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 $504 in rewards in the first year.
Annual fee
$0
Limited time offer/bonus
Earn up to 12,000 bonus Scotia Scene+ points within your first year (that's up to $120 towards travel).
Offer expiry date: April 30, 2023
Rewards
The RBC® ION Visa, one of RBC’s newer credit card offerings, lets cardholders earn more Avion points when they spend on groceries, gas, and daily public transit. Novel point-earning categories include EV charging expenditures.
According to our Best of Finance methodology, the average Canadian would earn around $348 in rewards in the first year.
Annual fee $0
Rewards
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.
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
Cons of using a travel credit 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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