Top Canadian Credit Cards for Travel

When it comes to traveling, having the right credit card in your wallet can make a world of difference. From earning travel rewards to enjoying perks like lounge access and no foreign transaction fees, the right card can save you money and enhance your travel experience. In this post, we’ll explore the top Canadian credit cards for travel in 2024, covering everything from rewards to special features that make these cards stand out.

1. American Express Cobalt Card

The American Express Cobalt Card has quickly become one of the most popular travel credit cards in Canada, and for good reason. This card offers a fantastic points-earning structure, especially for those who enjoy dining out and traveling.

• Points Earned: 5x points on dining and food delivery, 3x points on streaming services, 2x points on travel, and 1x points on all other purchases.
• Welcome Bonus: Up to 30,000 points in the first year.
• Annual Fee: $12.99 per month ($155.88 annually).
• Travel Perks: Flexible points redemption for flights, hotels, and even statement credits. Access to the American Express Global Lounge Collection.

This card is perfect for frequent travelers who also enjoy dining out. The flexibility in redeeming points makes it an excellent choice for those who want to maximize their rewards.

2. Scotiabank Gold American Express Card

Another top contender for travel enthusiasts is the Scotiabank Gold American Express Card. It’s especially known for its no foreign transaction fees, which can save you a lot of money when traveling abroad.

• Points Earned: 5x points on groceries, dining, and entertainment, 3x points on gas, transit, and streaming services, and 1x points on all other purchases.
• Welcome Bonus: Up to 40,000 points in the first year.
• Annual Fee: $120.
• Travel Perks: No foreign transaction fees, which means you save 2.5% on every purchase made outside of Canada—access to a wide range of travel rewards and insurance coverage.

This card is a great option for those who spend a lot on groceries and dining, both in Canada and abroad. The no-financial-transaction-fee feature is particularly beneficial for international travelers.

3. TD First Class Travel Visa Infinite Card

The TD First Class Travel Visa Infinite Card is a strong option for those who prefer a Visa over American Express. This card offers robust travel rewards and perks that cater to frequent flyers.

• Points Earned: 3x points on travel through Expedia For TD, 1.5x points on all other purchases.
• Welcome Bonus: Up to 80,000 points in the first year.
• Annual Fee: $139 (waived for the first year).
• Travel Perks: Travel insurance, travel concierge services, and access to the TD Rewards program, which allows for flexible travel bookings.

This card is perfect for those who book their travel through Expedia and want to earn points quickly. The travel insurance and concierge services are also valuable perks for frequent travelers.

4. BMO World Elite Mastercard

The BMO World Elite Mastercard is another excellent travel credit card. It offers a high rate of points earning and travel perks.

• Points Earned: 3x points on travel, 2x points on dining and entertainment, and 1x points on all other purchases.
• Welcome Bonus: Up to 60,000 points in the first year.
• Annual Fee: $150 (waived for the first year).
• Travel Perks: Access to over 1,000 airport lounges worldwide with Mastercard Airport Experiences provided by LoungeKey, travel, and medical insurance, and no foreign transaction fees.

This card is ideal for travelers who want premium perks like lounge access and comprehensive travel insurance. The no foreign transaction fees make it a strong contender for international travel.

5. Rogers World Elite Mastercard

The Rogers World Elite Mastercard is a great option for those who want a no-fee card that still offers solid travel rewards.

• Points Earned: 3% cashback on purchases in U.S. dollars, 1.5% cashback on all other purchases.
• Welcome Bonus: $25 in cashback rewards.
• Annual Fee: $0.
• Travel Perks: There are no foreign transaction fees, which means you save 2.5% on every purchase made outside of Canada.

While this card doesn’t offer as many travel perks as the others, it’s a strong option for those who want to avoid annual fees and still enjoy rewards on their purchases abroad.

Choosing the Right Card for You

When choosing a travel credit card, it’s essential to consider your spending habits and travel preferences. If you spend a lot on dining and groceries, the American Express Cobalt Card or the Scotiabank Gold American Express Card might be your best bet. On the other hand, if you prefer a no-fee card with no foreign transaction fees, the Rogers World Elite Mastercard could be a great fit.

For those who shop online frequently, especially on platforms like Amazon, some of these cards also offer excellent cashback or points on such purchases. Combining these with cards that have no foreign transaction fees can further enhance your savings.

No matter which card you choose, make sure to read the fine print and understand the terms and conditions.