As you may know, there are lots of great ways to get travel credit cards and lots of points or miles in the U.S. You can then parlay these points or miles into travel rewards, like cheap business class flights, hotels and upgrades and so on. We are often asked by our Canadian followers about their options in Canada. Are there travel rewards credit cards in Canada? Here is what we have learned.
As the leading market for credit card rewards, U.S.-issued cards provide larger welcome bonuses, enhanced cardholder perks, and a significantly broader array of points redemption options, greatly expanding the travel rewards available to you.
Reward Credit Cards in Canada
Things are different up north. Canada doesn’t have ANY credit cards with perks like those of the U.S. cards. Prince of Travel (a Canadian website dedicated to educating, informing, and inspiring its readers on all matters related to using frequent flyer miles, credit card points, and loyalty programs to travel the world at a fraction of the price) lists the best cards for Canadians and none of them are anything like the U.S. versions.
For example, Canada has the Amex Platinum but the perks for the $799 annual fee are not even close to the U.S. The main benefit is the Priority Pass access to lounges (that includes a guest – one of the few benefits Canadians have that the U.S. doesn’t) and various insurances on it. It has a $200 annual travel credit and a very limited $200 food credit that only works on a few Canadian restaurants in big cities.
The Scotiabank Passport Visa Infinite offers a ‘no foreign exchange fee’ card but the Scene points are really only good to use as credit on the payments and not even very good at that.
The Amex Cobalt has the best earn rate on gas and groceries and you can transfer the Membership Rewards points to hotels or Aeroplan.
Canadians also don’t get the amazing cruise or subscription offers on their Amex like their U.S. friends do.
For anyone collecting Aeroplan points, consider a couple of TD cards, specifically the Visa Infinite and the Visa Infinite Privilege that you can use to collect extra Aeroplan points on flights. It’s also the only card that really helps you obtain Aeroplan status. At $599/year, the Privilege is pricey, but it does give access to different lounge programs that might come in handy if you travel a lot.
For hotels, the best card available is the Marriott Bonvoy Amex, which gets us one free night a year.
Best Credit Cards for Canadians
Here are some cards Canadians should consider for travel use:
Amex Platinum
$799/year, Hilton Gold and Marriott Gold Elite status, Avis Gold +, Hertz Preferred Status, $200 travel credit, $200 restaurant credit, $100 Nexus credit, Priority Pass lounges, Centurion Lounges, various travel/purchase insurance benefits
Scotiabank Passport Visa
$150/year – no foreign exchange but no real perks
Amex Cobalt
$12.99/month – this is the best way to earn Membership Rewards points in Canada on gas, groceries, restaurants
TD Aeroplan cards
$599 for Privilege, $149 Infinite – these are the best for collecting Aeroplan points on booking flights, Aeroplan status, plus access to Maple Leaf Lounges
Marriott Bonvoy Amex
$120 – 1 free night & 15 elite night credits/silver status
Home Trust
Something else to consider is Home Trust (no annual fee, no foreign exchange fee, but no perks other than very small cash back at all).
U.S. Credit Cards for Canadians
You might think that you should just get a U.S. address and a U.S. card. But to get a U.S. card, there are a number of hoops to jump through, and KYC (“Know Your Customer”) regulations haven’t helped. First of all, you need a U.S. address that cannot be a commercial address; second, you need a U.S. bank account; and finally, you require a U.S. Social Security Number or EIN (or other government-issued I.D. such as a passport). For all the details on that, check out this article from Prince of Travel.
