4 Essential Credit Cards for Every Canadian Traveller

One question that often comes up when I’m discussing Miles & Points with friends and family is “What’s the best travel credit card in Canada?” The answer I almost always give is that, well, it depends, and also that it usually doesn’t come down to just one credit card.

Depending on your specific travel goals, tolerance for annual fees, and current signup bonuses, you may side with one card over another; however, there are a few cards that consistently rise to the top.

In this guide, we’ll break down four Canadian credit cards that deserve a permanent spot in your wallet, each offering unique benefits for any Canadian traveller.

American Express Cobalt Card

Since its debut way back in 2017, the American Express Cobalt Card has been a fan favourite in the Miles & Points community, and for good reason.

This powerhouse earner combines exceptional everyday earning rates with Canada’s best points currency, American Express Membership Rewards (MR) points.

The card’s earning structure is simply unmatched in Canada, offering the following returns on daily spending:

• 5 MR points per dollar spent on groceries and dining (up to $2,500 monthly)
• 3 MR points per dollar spent on streaming services
• 2 MR points per dollar spent on gas, transit, and rideshare purchases
• 1 MR point per dollar spent on everything else

The 5x earning rate on food and dining is particularly impressive. If you maximize your grocery and restaurant spending, you’ll quickly accumulate a healthy balance of MR points each year, which you can use in a variety of high-value ways.

What truly sets the Cobalt Card apart from its peers is the flexibility of these Membership Rewards points.

This single points currency gives you access to airline loyalty programs in the three global alliances (Aeroplan/Star Alliance, The British Airways Club/oneworld, and Air France KLM Flying Blue (SkyTeam)), as well as three other airline programs (Cathay Pacific Asia Miles, Delta SkyMiles, Etihad Guest) and two hotel programs (Marriott Bonvoy and Hilton Honors). 

If transferring to travel partners isn’t your thing, you can also redeem MR points against any travel purchase at a rate of 1 cent per point.

This flexibility means the 5 MR points earned on groceries and dining essentially provides a minimum 5% return on your spending; however, by leveraging transfers to travel partners, you can often boost this value to 10% or more, especially if you redeem them for premium cabin flights.

With a modest monthly fee of just $12.99, the Cobalt Card is definitely a keeper. If there’s one credit card every Canadian should have, look no further than the American Express Cobalt Card.

Marriott Bonvoy American Express Card

Without any meaningful competition, the Marriott Bonvoy American Express Card is easily Canada’s best hotel credit card. While the welcome bonus alone makes it worth signing up, the card’s real value lies in its ongoing annual benefits.

The star perk is the annual Free Night Award worth up to 35,000 Marriott Bonvoy points that you’ll receive starting in your second year. This benefit alone easily outweighs the $120 annual fee, especially since you can top up your Free Night Award with up to 15,000 additional points, bringing the total for stays worth up to 50,000 points per night.

Though you won’t get the Free Night Award in your first year, the points offered from the card’s welcome bonus typically exceed the annual fee in value. This means the Marriott Bonvoy American Express Card offers net-positive value every year you hold it. 

The card also comes with 15 elite qualifying nights annually, which gives you a head start toward higher Marriott Bonvoy Elite status, and also towards earning Lifetime Elite Status. Unlike the Free Night Award, you’ll receive these elite nights immediately after opening your card.

There’s also the Marriott Bonvoy Business American Express Card, which offers the same Free Night Award starting in the second year, albeit with a slightly higher annual fee of $150. If you find value in these Free Night Awards, adding the Business version to your wallet, too, is well worth considering.

Plus, keep an eye out for Amex Offers that offer a statement credit for stays at Marriott properties in Canada and beyond.

Scotiabank Passport® Visa Infinite* Card

The Scotiabank Passport® Visa Infinite* Card deserves its place in your wallet primarily for one standout feature: no foreign transaction fees.^†

Almost every Canadian travel credit card charges a 2.5% fee on purchases made in foreign currencies, adding unnecessary costs to your travels. Fortunately, the Scotiabank Passport® Visa Infinite* Card eliminates this expense entirely, essentially saving you 2.5% on every transaction made abroad.

Beyond saving on foreign exchange, you’ll earn Scene+ points with category multipliers that apply both in Canada and internationally. Scene+ points are a flexible fixed-value points currency that you can use to offset travel purchases like flights on independent airlines, boutique hotels, car rentals, and cruises that might otherwise be difficult to book with points.

Plus, as a Visa product, this card offers wider acceptance globally than Amex, making it ideal for day-to-day expenses while traveling.

The card also provides six complimentary lounge visits each year through the Visa Airport Companion Program, adding comfort to your travels.^†

The Scotiabank Passport® Visa Infinite* Card also features strong travel insurance coverage. Cardholders under 65 enjoy emergency medical insurance up to $1 million for trips up to 25 days (3 days for those 65 and older).^†

Importantly, you receive this coverage simply by being a cardholder – you don’t need to charge your trip to the card to access this protection.

Overall, the Scotiabank Passport® Visa Infinite* Card is an excellent long-term keeper card, even if you only use it for spending abroad.

TD® Aeroplan® Visa Infinite* Card

For Canadians who travel with Air Canada (which is practically all of us at some point), the TD® Aeroplan® Visa Infinite* Card is a valuable addition to your wallet.

When you link this card to your Aeroplan account, you’ll automatically access preferred pricing when redeeming Aeroplan points for Air Canada flights.^† This can save you a few hundred points on shorter domestic flights and potentially thousands on international bookings, especially if you also have Aeroplan Elite Status.

One of the card’s most compelling benefits is the free first checked bag on all Air Canada flights.^† This perk applies to the cardholder and up to eight travel companions on the same reservation, regardless of whether you paid with cash or points, and even if you didn’t use the card for the purchase.^†

For frequent flyers or families, this benefit alone can quickly exceed the card’s annual fee on a rolling basis.

When you use your Aeroplan card to pay for taxes and fees on Aeroplan reward flights, you’ll be covered by the card’s travel insurance, including trip cancellation, trip interruption, delayed and lost baggage insurance, and flight delay insurance.^† Most other credit cards won’t extend coverage to award bookings, making this a strategic card to use for Aeroplan redemptions.

Additionally, your Aeroplan points never expire as long as you remain a cardholder^† – a useful failsafe during periods of low travel activity.

Plus, TD frequently offers a first-year annual fee rebate as part of the strong signup bonus, keeping your initial costs low and rewards high. For long-term cardholders, TD offers a continuous waiver of the $139 annual fee if you maintain a TD All-Inclusive Banking plan.^†

While all Aeroplan credit cards offer Air Canada perks, the TD® Aeroplan® Visa Infinite* Card stands out for its specific features, frequent high signup bonuses, and strong overall value proposition.

Alternatively, if you’re a high-spender, a very frequent flyer, or just looking for stronger benefits, you might find value in the higher annual fee on a premium TD^® Aeroplan^® Visa Infinite Privilege^* Card or the American Express Aeroplan Reserve Card.

Conclusion

*Terms and conditions apply. Please refer to the card issuer’s website for up-to-date information. Reasonable efforts are made to ensure content accuracy.