The Benefits of Travel Credit Cards in Canada
If you're someone who loves to travel, a travel credit card can be a valuable tool in your wallet. Not only do these cards often offer rewards and perks for travel-related expenses, but they can also help you save money and make the most of your trips. However, with so many options available in Canada, it can be overwhelming to determine which one is the best fit for you. In this guide, we'll explore the benefits of travel credit cards in Canada and help you navigate the world of options to find the best card for your needs.
Credit Cards Rewards Programs In Canada
One of the most significant benefits of travel credit cards is the rewards programs they offer. These programs allow you to earn points or miles for every dollar you spend on the card, which can then be redeemed for travel-related expenses like flights, hotel stays, and car rentals. Some of the best rewards programs available in Canada include:
Aeroplan: With an Aeroplan credit card, you can earn miles on every purchase you make, which can be redeemed for flights with Air Canada and their partner airlines.
Marriott Bonvoy: This rewards program allows you to earn points for hotel stays at Marriott properties, as well as for purchases made with your credit card. Points can be redeemed for hotel stays or transferred to airline partners.
WestJet Rewards: If you frequently fly with WestJet, their rewards program can be an excellent option. With a WestJet credit card, you can earn WestJet dollars for every purchase you make, which can be used to offset the cost of flights.
Credit Cards Sign-Up Bonuses In Canada
In addition to ongoing rewards programs, many travel credit cards also offer sign-up bonuses to new cardholders. These bonuses can be a significant boost to your points or miles balance and can often be redeemed for travel-related expenses. Some of the best sign-up bonuses available in Canada include:
American Express Gold Rewards Card: This card offers a sign-up bonus of 25,000 points when you spend $1,500 in the first three months of card membership. Points can be redeemed for travel-related expenses or transferred to airline partners.
TD Aeroplan Visa Infinite Card: With this card, you can earn up to 20,000 Aeroplan miles as a sign-up bonus, as well as a first-year annual fee rebate.
Scotiabank Passport Visa Infinite Card: This card offers a sign-up bonus of 30,000 Scotia Rewards points when you spend $1,000 in the first three months of card membership. Points can be redeemed for travel-related expenses or transferred to airline partners.
Credit Cards Travel Benefits In Canada
Another benefit of travel credit cards is the travel-related perks and benefits they offer. These can include things like travel insurance, airport lounge access, and waived foreign transaction fees. Some of the best travel benefits available in Canada include:
BMO World Elite Mastercard: This card offers travel medical insurance, trip cancellation insurance, and rental car insurance, as well as airport lounge access and a $200 annual travel credit.
American Express Platinum Card: With this card, you can enjoy benefits like airport lounge access, travel insurance, and a $200 annual travel credit. You'll also earn points on every purchase you make, which can be redeemed for travel-related expenses or transferred to airline partners.
CIBC Aventura Visa Infinite Card: This card offers travel insurance, airport lounge access, and a concierge service to help you plan your trips. You can also earn points on every purchase you make, which can be redeemed for travel-related expenses.
Choosing the Right Credit Card In Canada
we've explored some of the benefits of travel credit cards in Canada, it's time to talk about how to choose the right card for your needs. Here are a few factors to consider when selecting a travel credit card:
Your spending habits: Consider how much you typically spend on travel-related expenses like flights, hotels, and car rentals. Choose a card that offers rewards or benefits that align with your spending habits.
Your travel goals: Think about where you want to travel and what types of travel-related expenses you want to be able to redeem your rewards for. Choose a card that offers rewards or benefits that will help you achieve your travel goals.
Annual fees: Some travel credit cards come with annual fees, which can range from $0 to $500 or more. Consider how much value you'll get from the rewards and benefits offered by the card, and whether it outweighs the annual fee.
Interest rates: If you tend to carry a balance on your credit card, consider the interest rates offered by each card. Look for a card with a low interest rate to minimize the amount of interest you'll pay on your balance.
Eligibility requirements: Some travel credit cards require a certain credit score or income level for approval. Make sure you meet the eligibility requirements before applying for a card.
In conclusion, travel credit cards can be a valuable tool for anyone who loves to travel. With rewards programs, sign-up bonuses, and travel benefits, these cards can help you save money and make the most of your trips. By considering your spending habits, travel goals, and other factors, you can find the best travel credit card in Canada for your needs.
Few more things to consider when selecting a travel credit card in Canada:
Foreign transaction fees: If you plan on using your credit card outside of Canada, make sure to choose a card that waives foreign transaction fees. Otherwise, you could end up paying an additional fee of up to 2.5% on every transaction.
Redemption flexibility: Some travel credit cards only allow you to redeem your rewards for travel-related expenses, while others offer more flexibility. Choose a card that allows you to redeem your rewards for a variety of options, such as merchandise, gift cards, or statement credits.
Travel insurance coverage: Consider the type and amount of travel insurance coverage offered by each card. Look for a card that offers coverage for things like emergency medical expenses, trip cancellations, and lost or delayed baggage.
Customer service: Finally, consider the quality of customer service offered by each card issuer. Look for a company with a good reputation for customer service, as this can be especially important if you run into issues while traveling.
By taking these factors into account and comparing the different options available, you can find the best travel credit card in Canada for your needs and start earning rewards and enjoying travel benefits on every trip.
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