When choosing a travel reward credit card most travellers look for which credit card brings in the best reward miles. These reward miles can be used to claim free trips or discount hotel rooms and all sorts of goodies. Sometimes the credit card companies offer these cards with no minimum fee.
To examine which credit cards offer the best reward programs you may want to see where you want to travel. Another thing to consider is the signup bonus. Many cards give huge incentives for signing up to their program.
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Below we will outline 3 of the common travel reward credit cards used in Canada. This cards can usually be used in every establishment in Canada and have a number of perks for joining.
BMO World Elite MasterCard
- Get up to $540 in your first year
- Get 35,000 points and $150 annual fee waved in your first year
- Complimentary Airport Lounge Access
- For every $1 spent you get 3 BMO reward points at eligible establishments
- For every $1 spent you get 2 BMO points everywhere else.
This credit card offers a $150 annual fee. You will also pay 19.99% on purchases. Furthermore your cash advances will be at 22.99%.
This credit card is for people who have a steady above average income. The card stipulations are a minimum $80,000 annual income or $150,000 household income.
Scotiabank Gold American Express
- 4 Scotiabank rewards for every $1 you spend on groceries, entertainment, gas stations and dining.
- 1 Scotiabank rewards point for every other dollar you spend elsewhere.
- Book travel through the Scotiabank full service travel agency
- Access to Airport lounges.
- Travel Insurance.
For this Travel Reward Credit Card you will be paying a $99 annual fee. You also will pay 19.99% on purchases and 22.99% on cash advances. The minimum credit limit for this one is $5,000.
American Express Cobalt
- Up to 30,000 bonus points for signing up.
- 5 points for every $1 when purchasing at restaurants, bars and grocery stores.
- 2 points for every $1 spent on eligible transit and gas purchases.
- 1 point for every $1 spent everywhere else you use your card.
- Travel Insurance.
This Travel Reward Credit Card comes with a monthly fee of $10 instead of an annual fee. You also receive 5000 bonus points for every friend you refer with a maximum of 75,000 points.
The annual interest rate on this Travel Reward Credit Card is 19.99% for purchases and 22.99% on cash advances.