When it comes to touring the world, having the appropriate credit card might make all the difference. For Canadians going overseas, it’s not only about convenience it’s about saving money, getting points, and protecting yourself from unexpected accidents. If you’re seeking for the greatest Canadian credit card for overseas travel, you’re in the right spot!
In this guide, we’ll reveal the greatest cards that remove international transaction fees, improve your trip rewards, and offer comprehensive insurance all while keeping your wallet happy.
Why a Good Travel Card Matters for Canadians
International travel is exhilarating, but it often comes with hidden charges if you’re not aware. Let’s break down why picking the appropriate travel credit card is so vital.
Foreign Transaction Fees
Most Canadian credit cards levy a 2.5% fee on every foreign currency transaction. That adds up quickly when you’re spending for hotels, meals, and souvenirs overseas. A good travel card waives these fees, saving you hundreds.
Travel Insurance Coverage
Imagine your flight getting canceled or losing your baggage. Without travel insurance, you might be out thousands. Many premium travel cards include trip cancellation, lost luggage, and even medical emergency coverage.
Airport Lounge Access
Long layovers? Crowded terminals? The correct card provides you access to exquisite airport lounges where you may relax, snack, and rejuvenate before your next trip.
Top Features to Look for in a Travel Credit Card
Before purchasing a travel card, make sure it checks these key boxes:
No Foreign Transaction Fees
Avoid those awful 2.5% costs on every transaction by picking a card that boldly claims no foreign exchange fees. It’s a modest feature that results in enormous savings.
Generous Reward Points
Look for cards that give extra points for travel-related expenses including airline, hotels, and eating. Some cards also connect with certain airlines or hotel companies for added perks.
Comprehensive Travel Protection
A smart travel card operates like your travel insurance agent on the go covering trip disruptions, emergency medical treatment, rental vehicle accidents, and more.
6 Best Canadian Credit Cards for International Travel
Now, the moment you’ve been waiting for: our hand-picked list of the best Canadian credit cards for international travel.
American Express Cobalt Card
Why It Rocks: 5x points on meals and beverages (even overseas!), flexible point transfers to flights and hotels.
Annual Fee: $155.88 (paid monthly)
Standout Feature: Membership Rewards points can transfer 1:1 to major airline programs.
Scotiabank Passport Visa Infinite Card
Why It Rocks: No foreign transaction costs and Priority Pass membership with 6 complimentary lounge visits.
Annual Fee: $150
Standout Feature: Comprehensive travel insurance package.
RBC Avion Visa Infinite
Why It Rocks: Flexible travel incentives that aren’t linked to one airline and premium insurance coverage.
Annual Fee: $120
Standout Feature: Avioners loyalty program helps you book flights with fewer points.
TD First Class Travel Visa Infinite Card
Why It Rocks: Earn points swiftly and redeem them conveniently using ExpediaforTD.
Annual Fee: $139
Standout Feature: Strong travel insurance and rental vehicle coverage.
BMO World Elite Mastercard
Why It Rocks: Free membership in Mastercard Travel Pass lounges and strong medical coverage.
Annual Fee: $150
Standout Feature: 3x points on travel, eating, and entertainment.
National Bank World Elite Mastercard
Why It Rocks: Exceptional medical coverage for travelers up to 60 days and up to $5 million in emergency insurance.
Annual Fee: $150
Standout Feature: Up to $1,000 in trip cancellation/interruption insurance.
How to Choose the Right Travel Card for You
No two travels are alike. Here’s how to find the one that matches your lifestyle properly.
Understand Your Spending Habits
If you dine out a lot or travel regularly, consider a card that rewards such activities. Some cards provide additional points on meals, while others shine on airlines and hotels.
Consider Sign-up Bonuses
Many cards come with a rich welcome bonus—sometimes enough for a free trip or hotel stay! Always verify the minimum expenditure necessary to nab the bonus.
Evaluate Insurance Benefits
Don’t simply look at the superficial advantages. Dive deep into what’s really covered. Some cards give minimal coverage, while others offer comprehensive emergency medical coverage, rental collision insurance, and even lost baggage compensation.
Maximizing Rewards and Benefits While Abroad
Want to stretch every money and point while flying internationally? Here’s how:
Using Travel Portals and Partners
Many banks provide trip booking platforms with extra savings and reward possibilities. For example, ExpediaforTD gives extra points for TD cardholders.
Also, take advantage of airline and hotel partners. Some cards allow you to transfer points to major airlines and hotel loyalty programs for optimum value.
Avoiding Common Pitfalls
Always tell your bank before flying overseas to avoid banned cards.
Carry a backup card in case your primary one gets lost or stolen.
Pay in local currency instead of picking “convert to CAD” at the terminal to avoid hidden costs.
Recommended Posts:
- Honda Civic Lease $59: Reasons, Benefits, How To Get Started
- $3000 Senior Assistance Program: How To Apply, Eligibility, Requirements
- Pell Grants: Do You Have To Pay Back Pell Grants?
FAQs About Travel Credit Cards
Which Canadian credit card offers no overseas transaction fees?
The Scotiabank Passport Visa Infinite Card is one of the better alternatives with absolutely no international transaction fees.
Can I use a Canadian credit card anyplace internationally?
Yes, most major Canadian credit cards including Visa, Mastercard, and American Express are accepted abroad.
Are travel incentives better than cashback for regular travelers?
Absolutely! Travel rewards sometimes give better value, especially when redeemed for flights, hotels, or upgrades.
Do travel credit cards cover emergency medical expenditures abroad?
Many premium travel cards, such as the National Bank World Elite Mastercard, offer emergency medical insurance for travels up to 60 days.
How crucial is airport lounge access for travelers?
It’s a game-changer for frequent fliers! Lounges give comfort, complimentary food, Wi-Fi, and a quiet spot to rest during long layovers.
Is it preferable to have a Visa, Mastercard, or Amex for foreign travel?
Visa and Mastercard are more commonly accepted globally, but American Express cards frequently provide superior advantages and incentives.
Conclusion
Choosing the finest Canadian credit card for overseas travel may greatly enrich your visits. From avoiding bothersome fees to enjoying special airport lounges and earning reward points, the correct card can make flying simpler and far more economical. Whether you’re a regular flier, a business traveler, or an occasional explorer, there’s a suitable travel card out there for you