Don’t Miss Out: The Must-Have Travel Rewards Credit Cards for Canadians in 2024!

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8 Min Read
Credit Cards

credit card: If you’ve been sticking with the same travel rewards credit card for years, chances are you might be missing out on better deals elsewhere.

According to a survey by CreditCards.com, a staggering 21 million people in Canada have never changed their credit cards, while another 32 million have stuck with the same card for a decade or more. Often,

this loyalty comes without considering whether other cards could offer benefits more aligned with individual needs.

Top Travel Rewards Credit Cards for Canadians in 2024!

Credit card companies are enticing consumers with a plethora of incentives, ranging from complimentary flights and hotel stays to elite status perks, airport lounge access, companion flight passes, free checked bags, insurance coverage, waived fees, and beyond.

In the dynamic landscape of credit card travel rewards, one of the latest perks is an annual credit that can be applied to various travel incidental charges.

If you’ve remained loyal to your current card, chances are you haven’t explored whether this flexible benefit could better cater to your needs.

While credit card sign-up bonuses in Canada may not match the levels seen in the U.S., they can still translate into significant rewards. With the sign-up bonuses offered by the credit cards outlined below,

Canadians can accumulate more than a dozen round-trip flights and several complimentary hotel nights. As a Canadian, I enjoy multiple free trips each year using this strategy alone, and I elaborate on just how straightforward it is to execute in this video

Managing Your Cards

Some credit cards offer point multipliers on purchases from specific vendors, as well as on charges for fuel, restaurants, and travel.

If you possess multiple cards (which I recommend), it’s crucial to know which card will yield the most points for each specific purchase.

To expedite your points accumulation, charge as much as possible to your credit cards to earn points per dollar spent, provided you can comfortably pay off your credit card balance in full each month.

Alternatively, any interest incurred will likely outweigh the value of any points earned. You can even maximize your benefits by charging purchases to vendors that offer additional points for transactions, such as Air Miles.

Sign-up Bonuses

To qualify for a sign-up bonus, you typically need to spend a predetermined amount on your credit card within a specified timeframe, known as the ‘minimum spend’. Terms vary by card but generally require an average of $3,000 in charges within the first three months.

Business and platinum cards often offer larger sign-up bonuses but come with higher annual fees and minimum spend thresholds. Here are some tips to help you meet your minimum spend requirements:

  1. Avoid applying for another card until you’ve met your current card’s minimum spend requirement.
  2. Charge all eligible expenses to your card, ensuring you can pay off the balance in full each month.
  3. Consider using services like Chexy to charge rent, tuition, or income tax payments to your credit card via e-transfer.
  4. If you travel for work, charge all work-related travel expenses to your credit card and have your employer reimburse you, allowing you to earn points for dollars spent on business travel.

Annual Fees 

Most worthwhile travel credit cards come with an annual fee. While some cards waive this fee for the first year to attract sign-ups, a lesser-known method to avoid paying the annual fee in subsequent years is to contact customer service shortly before your card’s anniversary date and express your intention to cancel the card.

Agents often attempt to retain customers by waiving the annual fee or offering free points as an incentive to stay.

Accessing U.S. Credit Cards with Enhanced Bonuses

U.S. travel rewards credit cards typically offer significantly higher sign-up bonuses than their Canadian counterparts.

Canadian credit card points expert Ricky Zhan has delved deeply into finding a method for Canadians to access U.S. credit cards and the substantial bonuses they offer. While this endeavor may involve some gray-area tactics, Ricky guides you through his blueprint in this video.

Annual Fee: $139

Interest (Purchases): 20.99%

Interest (Cash Advance): 22.99%

Additional Cardholder: $75

Eligibility Requirements:

  • $60,000 annual personal income or $100,000 annual household income.
  • Canadian residency and being of the age of majority in your province/territory of residence.

Limited Time Offer:

  • Earn up to $1,200 in value, including up to 50,000 Aeroplan points (enough for a round trip to New York City) and additional travel benefits. The account must be approved by June 3, 2024.
  • Earn a welcome bonus of 10,000 Aeroplan points with your first purchase.
  • Earn 20,000 Aeroplan points when you spend $6,000 within 180 days of account opening.
  • Earn a one-time anniversary bonus of 20,000 Aeroplan points when you spend $10,000 within 12 months of account opening.
  • Enroll for NEXUS and receive an application fee rebate once every 48 months.
  • Share free first-checked bags with up to 8 travel companions.

Earn Points. Share the Journey.

Start earning Aeroplan points on all purchases made with the TD Aeroplan Visa Infinite* Card, which you can share with loved ones. Up to 8 family members can combine points through Aeroplan Family Sharing.

Your card also offers benefits such as:

  • First checked bag free for the primary cardholder, additional cardholders, and up to eight travel companions on the same reservation when traveling on an Air Canada flight.
  • Enroll for NEXUS and receive an application fee rebate once every 48 months.
  • Aeroplan points do not expire as long as you are a TD® Aeroplan® Visa Infinite primary cardholder in good standing.
  • Additional cardholders can enjoy eligible Air Canada travel benefits by linking their Aeroplan number.

 

Redeem Your Aeroplan Points for Travel and More

  • No restrictions: Every Air Canada seat available for cash purchase is also available for points, with no blackout periods.
  • Beyond flights: Use your points for hotel rooms, car rentals, merchandise, experiences, and gift certificates.

 conclusion,

navigating the realm of travel rewards credit cards in Canada can be highly rewarding if approached strategically. By exploring various card benefits and maximizing sign-up bonuses, points accrual, and fee waivers, you can unlock a world of travel perks and experiences.

Whether it’s free flights, hotel stays, or additional travel benefits, the right credit card can elevate your travel experiences to new heights.

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