Top 20 Travel Credit Cards in Canada (October 2023)

Travel credit cards can save you thousands of dollars on annual travel expenses

The cost of travel has been steadily increasing over the past few years. In fact, many Canadians have seen their incomes decline when adjusting for inflation, while the price of flights and hotel rooms have gone up. With this in mind, it’s no wonder that there are so many Canadians who want to explore how to save money on travel, but can’t seem to find a way to make it happen. 

If you’re one of these people then don’t worry because I’m going to share my top 10 picks for credit cards made specifically for traveling Canadians

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1. Best Overall: American Express Platinum Card

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The American Express Platinum Card allows you to earn American Express Membership Rewards

American Express Membership Rewards can be transferred to a number of airline & hotel partners including Aeroplan, British Airways Executive Club & Marriott Bonvoy (and many more) 

The $799 annual fee (which comes with a $150 rebate through GreatCanadianRebates) is offset by the following perks & benefits:

• Sign-up Bonus:
  • 70,000 MR points upon spending $10,000 in the first three months
  • 30,000 MR upon making a purchase between months 14-17 of cardmembership
• Earn Rate: 
  • 2 MR points per dollar spent on travel, grocery, food & dining
  • 1 MR point everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $5,000,000
  • Car rental damage insurance 
  • Trip Canacellation Insurance- up to $3,000
  • Hotel Burglary insurance – up to $1,000
  • Baggage delay insurance – up to $1,000
  • Lost or stolen baggage insurance – up to $1,000
• Perks
  • $200 annual travel credit
  • $200 annual food & beverage credit
  • Special discounts for cardholders, which are sent via email
  • $100 Nexus credit
  • Instant Gold Status at Marriott Bonvoy
  • Instant Gold Status at Hilton Honours
  • Access to Pearson Priority Security Lane during peak operating times
  • Complimentary valet service at the Express Park and Daily Park at Pearson Airport
• Longe Access
  • Priority Pass (+1 guest)
  • Plaza Premium Lounges (+1 guest)
  • Delta Sky Club
  • Airspace Lounges (+2 guests)
  • Centurion Lounges
  • SwissPort Lounges (+1 guest)

Card Valuation 

Annual Fee – $799 (offset by a $200 annual travel credit & $200 annual food & beverage credit)

Sign up Bonus – 100,000 Membership Rewards 

Spend – $10,000 in the first three months + one purchase made between months 14-17 of cardmemberhip

First Year Value – $1,700

Summary 

While the $799 annual fee seems daunting initially, the 100,000 Membership Rewards will earn you potentially multiple free flights. 

Canadians will have to make a personal decision as to whether or not the $699 (minus the $200 travel credit & $200 food & beverage credit) annual fee is worth spending after year one. The strong everyday earning and the travel perks could entice you to keep this card in your wallet.

Read our full review here

2. Best for Air Canada: American Express Aeroplan Reserve Card

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The American Express Aeroplan Reserve Card allows you to earn Aeroplan points, rather than Membership Rewards

Aeroplan points can be used on any of Aeroplan’s partner airlines, which include; Air Canada, United Airlines & Lufthansa among others

The $599 (which comes with a $100 rebate through GreatCanadianRebates)is offset by the following perks & benefits:

• Sign-up Bonus:
  • 7,500 Aeroplan points for each of the first 6 months in which you spend $2,000
  • 5,000 Aeroplan points when adding a supplemental card-owner (up to a maximum of 10,000 Aeroplan points)
  • 35,000 Aeroplan points upon spending $6,000 during months 13-17 of cardmembership
    • Total of 90,000 points
• Earn Rate: 
  • 3 Aeroplan points per dollar spent with Air Canada 
  • 2 Aeroplan points per dollar spent on food & beverage 
  • 1.25 Aeroplan point everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $5,000,000
  • Car rental damage insurance 
  • Trip Cancellation Insurance- up to $2,500
  • Hotel Burglary insurance – up to $2,000
  • Baggage delay insurance – up to $1,000 if your baggage is delayed >4 hours
  • Lost or stolen baggage insurance – up to $2,500
  • Flight Delay insurance – up to $1,000 if your flight is delayed >4 hours
• Perks
  • Preferred pricing when redeeming Aeroplan points on Air Canada flights
  • Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $5,000 you spend on the card
  • Priority check in on Air Canada flightsFirst bag free on Air Canada flights
  • Earn an Annual Worldwide Companion Pass after spending $25,000 on the card per year
• Lounge Access
  • Maple Leaf Lounge (+1 guest)

Card Valuation 

Annual Fee – $599

Sign up Bonus – 90,000 Aeroplan Points

Spend – $2,000 in each of the first 6 months + 1 purchase between months 13-16 of cardmembership

First Year Value – $1,700

Summary 

While the $599 annual fee seems daunting initially, the 90,000 Aeroplan points will earn you potentially multiple free flights. This is Aeroplan’s premier credit card. If you travel regularly, the free first checked bag can help offset the annual fee. 

Canadians will have to make a personal decision as to whether or not the $599 annual fee is worth taking into the third year.

Read our review here

3. Best Visa: TD Aeroplan Visa Infinite Privilege 

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The TD Aeroplan Visa Infinite Privilege card is TD’s premier Aeroplan credit card

Aeroplan points can be used on any of Aeroplan’s partner airlines, which include; Air Canada, United Airlines & Lufthansa, among others

The $599 is offset by the following perks & benefits:

• Sign-up Bonus:
  • 20,000 Aeroplan points at first purchase
  • 50,000 Aeroplan points upon spending $7,500 in the first 6 months
  • 30,000 Aeroplan points upon spending $12,000 in the first year
    • Total of 100,000 Aeroplan points
• Earn Rate: 
  • 2 Aeroplan points per dollar spent with Air Canada 
  • 1.5 Aeroplan points per dollar spent on food, beverage & travel
  • 1.25 Aeroplan points everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $5,000,000
  • Car Rental Insurance
  • Trip Canacellation Insurance- up to $3,000
  • Hotel Burglary insurance – up to $1,000
  • Baggage delay insurance – up to $1,000
  • Lost or stolen baggage insurance – up to $1,000
• Perks
  • Priority check in on Air Canada flights
  • First bag free on Air Canada flights
  • $100 Nexus credit
  • Priority Airport Services at select Canadian airports
  • Preferred pricing when redeeming Aeroplan points on Air Canada flights
  • Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $5,000 you spend on the card
  • Earn an Annual Worldwide Companion Pass after spending $25,000 on the card per year
• Lounge Access
  • Maple Leaf Lounge (+1 guest)
  • 6 complimentary visits to DagonPass lounges

Card Valuation 

Annual Fee – $599

Sign up Bonus – 100,000 Membership Rewards

Spend – $12,000 in the first 12 months

First Year Value – $1,900

Summary 

This is the top Visa card in the market

While the $599 annual fee seems daunting initially, the 100,00 Aeroplan points will earn you potentially multiple free flights. 

Canadians will have to make a personal decision as to whether or not the $599 annual fee is worth taking into the 3rd year. If you bank at TD, you can rotate through their credit card portfolios, continuously earning the signup bonus every time. 

This card requires a household income of $200,000. 

Read our review here

4. Best First Year Free Card: CIBC Aeroplan Visa Infinite

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The CIBC Aeroplan Visa Infinite card is the second tier Aeroplan card at CIBC, but comes with a first year free rebate, so it makes the list. 

Aeroplan points can be used on any of Aeroplan’s partner airlines, which include; Air Canada, United Airlines & Lufthansa, among others.

The Cost for the Card is $0 for the first year, and then $139 annually, & comes with the following benefits:

• Sign-up Bonus:
  • 10,000 Aeroplan points at first purchase
  • 20,000 Aeroplan points upon spending $15,000 in the first 4 months
  • 15,000 Aeroplan points upon spending $10,000 in the first year
    • Total of 45,000 Aeroplan points
• Earn Rate: 
  • 1.5 Aeroplan points per dollar spent on food, beverage, gas & travel
  • 1 Aeroplan point everywhere else
• Insurance:
  • Emergency medical travel insurance – up to $5,000,000
  • Car rental damage insurance 
  • Trip cancellation insurance- up to $5,000
  • Hotel Burglary insurance – up to $1,000
  • Baggage delay insurance – up to $1,000
  • Lost or stolen baggage insurance – up to $1,000
• Perks:
  • First bag free on Air Canada flights
  • Preferred pricing when redeeming Aeroplan points on Air Canada flights
  • Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $10,000 you spend on the card

Card Valuation 

Annual Fee – $0 for the first year, then $139 annually

Sign up Bonus – 45,000 Aeroplan points

Spend – $4,000 in the first 4 months + $10,000 in the first year

First Year Value – $1,200

Summary 

While this card isn’t as strong as some of American Express’ top cards, we live in a world where AMEX isn’t accepted at many retail locations in Canada. As a result, it’s good to have a solid visa in your wallet as well.

The CIBC Aeroplan Visa Infinite provides a great, FREE way to earn a large amount of Aeroplan points, and it can be a great backup to the high annual fee cards in the market. 

Canadians will have to make a personal decision as to whether or not the $139 annual fee is worth taking into the third year. You’ll receive an annual fee rebate every year if you have a CIBC Smart Plus Account

Read our review here

5. Best Business Card: American Express Aeroplan Reserve Business Card

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The American Express Aeroplan Reserve Business Card allows you to earn Aeroplan points directly through use of the card.

The $599 annual fee (which comes with a $150 rebate through GreatCanadianRebates) is offset by the following perks & benefits:

• Sign-up Bonus:
  • 5,000 Aeroplan points when adding a supplemental card-owner (up to a maximum of 10,000 Aeroplan points)
  • 7,500 Aeroplan points for each of the first 6 months in which you spend $3,000
  • 40,000 Aeroplan points upon spending $9,000 between months 13-16 of cardmembership
    • Total of 95,000 points
• Earn Rate: 
  • 3 Aeroplan points per dollar spent with Air Canada 
  • 2 Aeroplan points per dollar spent on travel
  • 1 Aeroplan point everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $5,000,000
  • Car rental damage insurance 
  • Trip Cancellation Insurance- up to $1,500
  • Hotel Burglary insurance – up to $1,000
  • Baggage delay insurance – up to $1,000 if your baggage is delayed >4 hours
  • Lost or stolen baggage insurance – up to $1,000
  • Flight Delay insurance – up to $1,000 if your flight is delayed >4 hours
  • Extended Warranty Protection
• Perks
  • Priority check in on Air Canada flights
  • First bag free on Air Canada flights
  • Access to Maple Leaf Lounge
  • Preferred pricing when redeeming Aeroplan points on Air Canada flights
  • Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $5,000 you spend on the card
  • Earn an Annual Worldwide Companion Pass after spending $25,000 on the card per year
• Lounge Access
  • Maple Leaf Lounge (+1 guest)

Card Valuation 

Annual Fee – $599

Sign up Bonus – up to 95,000 Aeroplan Points

Spend – $3,000 in each of the first 6 months + 9,000 between months 13-16 of cardmembership

First Year Value – $1,700

Summary 

While the $599 annual fee seems daunting initially, the 95,000 Aeroplan points will earn you potentially multiple free flights. This is Aeroplan’s premier business credit card. If you travel regularly, the perks can help offset the annual fee. 

At first glance, the word “business” may deter people from applying for the card. However, even as a sole proprietor, you can secure business credit cards with relative ease. Simply put your individual name down in lieu of the business name, and proceed with the application. 

Canadians will have to make a personal decision as to whether or not the $599 annual fee is worth taking into the third year.

Read our review here

6. Best First Year Free Business Card: TD Aeroplan Business Card

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The TD Aeroplan Visa Business card is the business version of the TD Aeroplan Visa Infinite card. 

Aeroplan points can be used on any of Aeroplan’s partner airlines, which include; Air Canada, United Airlines & Air France, among others

The Cost for the Card is $0 for the first year, and then $149 annually, & comes with the following benefits:

• Sign-up Bonus:
  • 10,000 Aeroplan points at first purchase
  • 45,000 Aeroplan points after spending $2,500 each month for the first 12 months
  • 10,000 Aeroplan points by setting up new recurring bill payments
    • Total of 65,000 Aeroplan points
• Earn Rate: 
  • 2 Aeroplan points per dollar spent on Air Canada
  • 1.5 Aeroplan points per dollar spent on food, beverage, cable & travel
  • 1 Aeroplan point everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $2,000,000
  • Car rental damage insurance 
  • Trip Canacellation Insurance- up to $5,000
  • Baggage delay insurance – up to $1,000
  • Flight delay insurance – up to $500
  • Lost or stolen baggage insurance – up to $1,000
• Perks
  • First bag free on Air Canada flights
  • Preferred pricing when redeeming Aeroplan points on Air Canada flights
  • Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $10,000 you spend on the card
  • $100 NEXUS credit

Card Valuation 

Annual Fee – $0 for the first year, then $149 annually

Sign up Bonus –50,000 Aeroplan Points

Annual Spend – $5,000 in the first 3 months

First Year Value – $700

Summary 

The TD Aeroplan Visa Business card provides a great, FREE way to earn a large amount of Aeroplan points, and it can be a great backup to the high annual fee cards in the market. 

At first glance, the word “business” may deter people from applying for the card. However, even as a sole proprietor, you can secure business credit cards with relative ease. Simply put your individual name down in lieu of the business name, and proceed with the application. 

Canadians will have to make a personal decision as to whether or not the $149 annual fee is worth taking into the second year. 

Your complete guide to Aeroplan points

7. Runner Up First Year Free Card: TD Aeroplan Visa Infinite

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The TD Aeroplan Visa Infinite card is the second tier Aeroplan card at TD, but comes with a first year free rebate, so it makes the list. 

Aeroplan points can be used on any of Aeroplan’s partner airlines, which include; Air Canada, United Airlines & Air France, among others

The Cost for the Card is $0 for the first year, and then $139 annually, & comes with the following benefits:

• Sign-up Bonus:
  • 10,000 Aeroplan points upon first purchase
  • 25,000 Aeroplan points upon spending $5,000 in the first 6 months
  • 15,000 Aeroplan points on renewal after spending $7,500 in the first year
    • Total of 45,000 Aeroplan points
• Earn Rate: 
  • 1.5 Aeroplan points per dollar spent on food, beverage, gas & travel
  • 1 Aeroplan point everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $1,000,000
  • Car rental damage insurance 
  • Trip Canacellation Insurance- up to $5,000
  • Baggage delay insurance – up to $1,000
  • Lost or stolen baggage insurance – up to $1,000
• Perks
  • First bag free on Air Canada flights
  • Preferred pricing when redeeming Aeroplan points on Air Canada flights
  • $100 NEXUS credit
  • Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $10,000 you spend on the card

Card Valuation 

Annual Fee – $0 for the first year, then $139 annually

Sign up Bonus – 70,000 Aeroplan Points

Annual Spend – $5,000 in the first 6 months + $7,500 in the first 12 months

First Year Value – $750

Summary 

While this card isn’t as strong as some of American Express’ top cards, we live in a world where AMEX isn’t accepted at many retail locations in Canada. As a result, it’s good to have a solid visa in your wallet as well.

The TD Aeroplan Visa Infinite provides a great, FREE way to earn a large amount of Aeroplan points, and it can be a great backup to the high annual fee cards in the market. 

Canadians will have to make a personal decision as to whether or not the $139 annual fee is worth taking into the third year

If you bank at TD, you can rotate through their credit card portfolios, continuously earning the signup bonus every time. 

Read our review here

8. Best Card for Use at the Grocery Store: American Express Cobalt Card

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The American Express Cobalt Card is the premier card in the market in terms of food & beverage. Through the American Express Cobalt Card, you earn American Express Membership Rewards 

American Express Membership Rewards can be transferred to a number of airline & hotel partners including Aeroplan, British Airways Executive Club & Marriott Bonvoy (and many more).

The cost for the card is $12.99 monthly (which comes with a $100 rebate through GreatCanadianRebates), & comes with the following benefits:

• Sign-up Bonus:
  • 2,500 Membership Rewards each month you spend $500 (for the first 12 months)
    • Total of 30,000 points
• Earn Rate: 
  • 5 Membership Rewards per dollar spent on food & dining
  • 3 Membership Rewards per dollar spend on streaming services
  • 2 Membership Rewards per dollar spent on gas & travel
  • 1 Membership Reward for everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $5,000,000
  • Car rental damage insurance 
  • Baggage delay insurance – up to $500
  • Lost or stolen baggage insurance – up to $1,000
  • Hotel burglary – up to $500 
• Perks
  • Occasional discounts on select products

Card Valuation 

Annual Fee – $12.99 monthly fee

Sign up Bonus –30,000 Membership Rewards

Annual Spend – $500 per month for the first 12 months

First Year Value – $600

Summary 

While this card does’t come with the best travel perks, the Cobalt is a great card to have in the wallet if you regularly shop at a grocery store that accepts American Express.

The 5 Membership Rewards per dollar spent on food & beverage is the best earning rate for any card in the market, and the relatively manageable monthly fee of $12.99 could entice Canadians to keep this card in their wallet year over year. 

Read our review here

9. Best Card for Use at Costco: RBC WestJet World Elite Mastercard

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The RBC WestJet World Elite Mastercard is the premier travel Mastercard in the market, which can be beneficial for use at establishments that only accept Mastercard, like Costco

WestJet rewards can be used towards WestJet flights

The $119 annual fee is offset by the following benefits: 

• Sign up Bonus
  • 250 WSJ after your first purchase, 
  • 200 WSJ upon spending $5,000 in the first 3 months
• Earn Rate:
  • 1.5% return in WestJet Dollars (with 3% return at Petro Canada gas stations) 
  • 2% return in WestJet Dollars when purchasing from WestJet Vacations
• Insurance
  • Emergency Medical Travel Insurance – up to $5,000,000
  • Car rental damage insurance 
  • Hotel burglary  insurance – up to $2,500
  • Trip interruption insurance – up to $5,000
• Perks
  • A Free checked bag on WestJet flights
  • Additional 20% in Petro Points on purchases made at Petro Canada
  • Boingo Wi-Fi on West Jet Flights

Card Valuation 

Annual Fee – $119 annually

Sign up Bonus – 450 West Jet Dollars

Annual Spend – $5,000 in the first 3 months

First Year Value – $560

Summary

The $450 sign up bonus is virtually a $450 WestJet gift card, so it’s easily worth the $119 sign up fee.

It’s also worth noting that Petro Canada has a relationship with RBC that will allow you to save 3 cents/litre if you link your RBC debit or credit card with your Petro Points account. Needless to say, you should be taking this initial step if you own an RBC credit card. 

If you currently own another RBC credit card and would like to transfer to the WestJet World Elite Mastercard, you can perform a credit card switch on the RBC banking page, or by calling their credit card hotline.Switching from one RBC credit card to another DOES NOT impact your credit score.

Read: Your Complete Guide to WestJet Rewards

10. Best Card for Earning Hotel Points: American Express Marriott Bonvoy Card

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For those who regularly stay at Marriott Hotels, or who intend take a vacation in the near future, the American Express Marriott Bonvoy card go go a long way to earning you free hotel stays.

Marriott Bonvoy points miles can use used for free stays at any of Marriott’s properties, and can be transferred to a number of airline partners including Alaska Airlines

The annual fee of $120 (which comes with a $100 rebate through GreatCanadianRebates) is offset by the following benefits:

• Sign-up Bonus:
  • 50,000 Bonvoy points upon spending $1,500 in the first 3 months
• Earn Rate: 
  • 5 Bonvoy Points per dollar spent on Marriott Bonvoy properties
  • 2 Bonvoy Points per dollar spent everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $500,000
  • Car rental damage insurance 
  • Baggage delay insurance – up to $1,000
• Perks
  • 15 Elite qualifying nights & instant Silver status within Marriott’s loyalty program
  • Annual free night, up to 35,000 points

Card Valuation 

Annual Fee – $120

Sign up Bonus –50,000 Bonvoy Points

Annual Spend – $1,500 in the first 3 months

First Year Value – $350

Summary 

If you regularly stay at Marriott hotels, this is a great card to have in the wallet 

The 50,000 Bonvoy points is a great sign up bonus. The 15 elite qualifying nights can go a long way to helping you attain Gold Status (25 qualifying nights), which has a number of benefits including complimentary room upgrades. 

The free annual night stay essentially offsets the $120 annual fee, so there is no need to cancel this card after the first year. 

Read: Your complete guide to Marriott Bonvoy Points

Other Crds You Should Consider

American Express

American Express Business Platinum – 120,000 Membership Rewards

American Express Business Gold – 70,000 Membership Rewards

American Express Business Edge – 45,000 Membership Rewards

American Express Personal Gold – 60,000 Membership Rewards

CIBC

CIBC Aeroplan Visa Infinite Privilege – 95,000 Aeroplan points

CIBC Aeroplan Visa Business – 60,000 Aeroplan Points

CIBC Aventura Visa Infinite – 35,000 Aventura Points

CIBC Aventura Gold – 35,000 Aventura Points

RBC

RBC British Airways Visa Infinite – 50,000 Avios

RBC Avion Visa Infinite – 55,000 Avion Points

RBC Avion Visa Platinum – 55,000 Avion Points

Scotiabank

Scotiabank American Express Gold Card – 40,000 Scene+ points

Scotiabank Visa Infinite Passport – 40,000 Scene+ points

Scotiabank American Express Platinum – 60,000 Scene+ points

Scotiabank Passport Visa Infinite Business – 30,000 Scene+ points

Conclusion 

For more information on Canada’s top travel programs, click here.