When you think of a card with well-rounded benefits and flexible points, easy ways to redeem for travel, a healthy welcome offer, and generous hotel and insurance perks, American Express is often top of mind. While still not as widely accepted as competitors bearing the Visa or Mastercard name, the American Express Gold Rewards Card still stands out as one of the most flexible points cards in Canada, featuring a strong earn rate fit for frequent travellers looking to maximize their rewards.
One of the largest travel rewards programs in Canada, Air Miles is affiliated with a wide variety of everyday retail partners, from grocery stores and gas stations, to liquor stores and travel outlets, where members earn points on their purchases. Savvy collectors know they can boost their earn rate by using the right credit card—and with its wide selection of partners and recently enhanced redemption options, the BMO Air Miles World Elite Mastercard is one of the best Air Miles credit cards in Canada, made even better with an annual fee rebate if you have the BMO Premium chequing account. Rounded out with airport lounge access, travel insurance benefits, and purchase protection, this BMO credit card gives other premium travel rewards credit cards a run for their money.
Now that Air Canada has acquired the Aeroplan loyalty program—and announced that it will be replacing Aeroplan with something new in 2020—we know that credit card offerings will be changing in the future, too.
In the meantime, Air Canada has promised it will be business as usual when it comes to earning and redeeming Aeroplan rewards points, and for frequent flyers of Air Canada and Star Alliance partners, there are some lucrative rewards credit card offers to consider right now. We’ve selected the three best based on our analysis of fees, points accumulation, redemption structures and flexibility to help get you to your next vacation faster.
Millions of Canadians travel abroad with their domestic credit cards—and not realizing they’re racking up foreign transaction (also called “forex”) fees with every purchase. The 2.5% charged for every purchase you make in a foreign currency might not seem much, but can add up very quickly. For perspective, that’s $25 in forex fees for every $1,000 you spend on your card, and you have to pay the exchange rate as well.
If you like to explore other countries on vacation or your work frequently takes you abroad, it’s worth considering a card that travels with you.
The good news is there are a few credit cards that offer no foreign transaction fees (or their fees are returned to you as cash back), ultimately helping frequent travellers put the 2.5% back into their pockets. These picks are based on our analysis of each card’s benefits and annual fees; foreign transaction fees and how they’re handled (if rebated); and whether there are additional rewards incentives for using the card domestically and/or abroad.