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Traveling is one of the best ways to explore the world and unwind, but it can come with hefty costs. Luckily, the right travel credit card can help you save money, earn rewards, and make your trips even more enjoyable. If you’re looking for the best credit cards for travel in Canada, you’ve come to the right place.
In this guide, we’ll break down some of the top travel credit cards available in Canada and highlight key benefits. We’ll also take a closer look at the Walmart Rewards Mastercard, a great option for frequent shoppers.
What to Look for in a Travel Credit Card
Before we dive into specific recommendations, it’s essential to know what makes a travel credit card great. Here are some features to consider:
- Travel Rewards: The best cards offer points or miles that you can redeem for flights, hotels, car rentals, and more.
- Sign-up Bonuses: Many cards offer hefty bonuses when you first sign up, which can boost your travel fund.
- Low or No Foreign Transaction Fees: This is important if you’re traveling abroad. Some cards don’t charge extra fees for purchases made in foreign currencies.
- Insurance Coverage: Look for cards that offer travel insurance, including trip cancellation, medical insurance, and lost baggage protection.
- Airport Lounge Access: Premium cards often come with perks like lounge access, which can make long layovers more comfortable.
Top Travel Credit Cards in Canada
Let’s explore some of the best travel credit cards in Canada for 2024, each offering unique perks to suit different types of travelers.
1. American Express Cobalt Card
The American Express Cobalt Card is widely regarded as one of the best options for Canadian travelers. It offers a fantastic rewards program and flexible redemption options.
- Rewards: Earn 5 points per $1 spent on groceries and dining, and 2 points per $1 on travel and transportation.
- Bonus: Up to 30,000 points in the first year if you spend a certain amount each month.
- Perks: Access to the Fixed Points Travel Program, which allows you to redeem points for flights at a fixed rate.
- Annual Fee: $12.99 per month.
2. Scotiabank Passport Visa Infinite
The Scotiabank Passport Visa Infinite is an excellent card for international travelers. One of its standout features is that it charges no foreign transaction fees, saving you money on purchases made abroad.
- Rewards: Earn 2 points for every dollar spent on groceries, dining, entertainment, and transit.
- Bonus: Get 30,000 bonus points when you spend $1,000 in the first three months.
- Perks: Complimentary access to airport lounges with the Priority Pass membership.
- Annual Fee: $150.
3. BMO World Elite Mastercard
The BMO World Elite Mastercard offers strong travel rewards and excellent insurance coverage, making it a popular choice for frequent travelers.
- Rewards: Earn 3 points per dollar on travel, dining, and entertainment, and 1 point per dollar on all other purchases.
- Bonus: Receive 30,000 points as a welcome bonus and an additional 10,000 points when you spend $3,000 in the first three months.
- Perks: Travel and medical insurance, as well as access to airport lounges.
- Annual Fee: $150, but the first year is free.
4. RBC Avion Visa Infinite
The RBC Avion Visa Infinite card is perfect for those looking for flexible travel redemption options. It allows you to book flights with any airline and offers a strong rewards program.
- Rewards: Earn 1 point for every $1 spent on all purchases, with bonus points for certain spending categories.
- Bonus: Get 35,000 welcome points when you sign up.
- Perks: Comprehensive travel insurance and access to airport lounges.
- Annual Fee: $120.
Walmart Rewards Mastercard: A Solid Choice for Everyday Use
While it’s not a traditional travel credit card, the Walmart Rewards Mastercard deserves a mention for those who want to earn rewards on everyday purchases, especially if you frequently shop at Walmart.
- Rewards: Earn 1.25% back in Walmart Reward Dollars on purchases at Walmart, and 1% back on purchases everywhere else.
- Perks: Redeem Walmart Reward Dollars for purchases at Walmart stores or online at Walmart.ca.
- Annual Fee: None.
For those who travel within Canada or stay at places where Walmart is accessible, the Walmart Rewards Mastercard can complement your travel card, allowing you to earn rewards on essential items while you’re on the go.
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How to Choose the Best Travel Card for You
Choosing the best travel credit card depends on your spending habits and travel preferences. Here are a few questions to ask yourself:
- Do you prefer points, miles, or cash back?
- Will you be traveling internationally or mostly within Canada?
- Are you looking for perks like airport lounge access or comprehensive insurance coverage?
- How much are you willing to pay in annual fees?
By answering these questions, you can narrow down the options and find the best card for your needs.
Final Thoughts
Whether you’re planning a big international trip or a relaxing vacation within Canada, having the right travel credit card can make a world of difference. Cards like the American Express Cobalt, Scotiabank Passport Visa Infinite, and BMO World Elite Mastercard offer great rewards and perks tailored to travelers. Meanwhile, the Walmart Rewards Mastercard is a strong choice for everyday spending, making it a great addition to your wallet.
Remember to compare the cards based on your needs and maximize the rewards to make the most of your travels.
