Best Credit Cards for Travelers
If you love to travel, having the right credit card can make all the difference. From earning rewards on flights and hotels to avoiding foreign transaction fees, the best travel credit cards can save you money and make your trips more enjoyable. Here are some of the top options for Toronto-based travelers looking to maximize their spending and benefits.
Maximize Rewards and Save on Your Next Adventure
1. American Express Cobalt Card
Annual Fee: $155.88 ($12.99/month)
Why it’s great:
- Earn 5x points on dining, groceries, and food delivery, making it easy to rack up rewards for travel.
- Flexible points that can be transferred to airlines like Air Canada’s Aeroplan.
- Travel insurance coverage, including emergency medical, trip interruption, and car rental protection.
- No preset spending limit, allowing flexibility in purchases.
| Amex Cobalt | Amex Gold Rewards | |
|---|---|---|
| Earn Rates | – 5 points per $1 spent on eligible groceries and restaurants – 3 points per $1 spent on eligible streaming services – 2 points per $1 spent on eligible gas, transit, and ride share purchases – 1 point per $1 spent on foreign currency purchases – 1 point per $1 spent on all other purchases | – 2 points for every $1 spent on gas, groceries, drugstores, and travel – 1 point for every $1 spent on all other purchases |
| Welcome Bonus | $100 GeniusCash + Up to 15,000 bonus points (terms) | $75 GeniusCash + Up to 60,000 bonus points (terms) |
| Insurance Coverage | 10 types | 11 types |
| Annual Fee | $155.88, charged out as $12.99 per month | $250 |
| Perks | – Amex offers and Front Of The Line | – $100 annual travel credit – Airport lounge access –Â Metal credit card –Â NEXUS fee rebate – Amex offers and Front Of The Line |
| Apply | Apply Now | Apply Now |
2. Scotiabank Passport Visa Infinite Card
Annual Fee: $150
Why it’s great:
- No foreign transaction fees, saving you money on purchases abroad.
- Access to six free airport lounge visits per year through Priority Pass.
- Earn Scene+ points that can be redeemed for travel, merchandise, or even movie tickets.
- Comprehensive travel insurance, including emergency medical, trip cancellation, and flight delay coverage.
| Feature | Scotiabank Passport Visa Infinite | Scotiabank Gold American Express |
|---|---|---|
| Welcome bonus | 30,000 points (terms) | 40,000 points (terms) |
| Annual fee | $150 | $120 |
| Rewards | – 3 points per $1 spent at Sobeys, Safeway, Freshco and more – 2 points per $1 spent on groceries, restaurants, entertainment, and daily transit – 1 point per $1 on all other purchases | – 6 points per $1 spent at Sobeys, Safeway, Freshco and more – 5 points per $1 spent on groceries, dining, and entertainment – 3 points per $1 spent on gas, select streaming services, and transit – 1 point per $1 spent on foreign currency purchases – 1 point per $1 spent on all other purchases |
| Insurance coverages | 11 types | 12 types |
| Special features | – Visa Infinite benefits – Complimentary Visa Airport Companion membership, plus 6 annual lounge visits – No foreign exchange fees – Spend $40,000 per year on your card and receive 10,000 bonus Scene+ Points. | – Amex Offers – Amex Front Of The Line – No foreign exchange fees |
| Income requirements | – Personal: $60,000 – Household: $100,000 | – Personal: $12,000 |
3. TD Aeroplan Visa Infinite Card
Annual Fee: $139 (often waived for the first year)
Why it’s great:
- Earn Aeroplan points that can be used for Air Canada flights and Star Alliance partners.
- Free checked bags on Air Canada flights.
- Comprehensive travel insurance, including medical and trip cancellation coverage.
- Visa Infinite benefits, including hotel upgrades and concierge services.
Rating the TD® Aeroplan® Visa Infinite Privilege* credit card
| Purchase Interest Rate | 4/5 |
| Cash advance interest rate | 4/5 |
| Balance transfer | n/a |
| Annual Fee | 2/5 |
| Cash back | n/a |
| Welcome Offer | 4/5 |
| Purchase insurance | 5/5 |
| Extended warranty insurance | 5/5 |
| Mobile device insurance | 5/5 |
| Travel insurance | 5/5 |
| Emergency medical travel insurance | 5/5 |
| Other Perks | 5/5 |
| Overall rating | 4.3/5 |
4. RBC Avion Visa Infinite
Annual Fee: $120
Why it’s great:
- Flexible points that can be redeemed for flights on any airline, with no blackout dates.
- Earn extra points on travel purchases, including flights and hotels.
- Includes travel insurance for medical emergencies, trip cancellation, and car rentals.
- Special offers and discounts through Avion Rewards partners.
5. BMO World Elite Mastercard
Annual Fee: $150 (often waived for the first year)
Why it’s great:
- Earn BMO Rewards points that can be redeemed for flights, hotels, and more.
- Four free airport lounge visits per year through DragonPass.
- Travel medical insurance covering trips up to 21 days.
- Purchase protection and extended warranty coverage for added security.
BMO Air Miles World Elite Mastercard Rating
| Introductory Offer: | 4/5 |
| Rewards: | 5/5 |
| Rates and Fees: | 2.5/5 |
| Perks and Features: | 4.5/5 |
| Total: | 4/5 |
Choosing the Right Card
When selecting a travel credit card, consider your spending habits, the rewards program, and any annual fees. If you frequently travel outside Canada, a card with no foreign transaction fees can be a game-changer. If you fly with Air Canada often, an Aeroplan-affiliated card may offer the best perks.
The right travel credit card can help you earn rewards faster, save money on travel expenses, and provide valuable perks like lounge access and insurance coverage. Whether you’re a frequent flyer or an occasional traveler, choosing the best card for your needs will enhance your experience and make every trip more rewarding.
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