Best Travel Credit Cards in 2022

Best Travel Credit Cards in May 2024

Getting the opportunity to travel is one of the most exciting things that can happen. Canadians truly enjoy this experience to the fullest. And a travel credit card is an excellent way to enhance a journey.

Before booking your flight, make sure to look into all options available to Canadians. Find the best credit cards and pick one for yourself. While researching, keep in mind interest rates, fees, rewards, and bonuses. If unexpected expenses arise during your travels, having an app for payday loans can provide quick financial assistance.

If you are uncertain of your choices, below you can read a carefully collected list of the best travel credit cards in May 2024.

Travel Credit Cards: Best Offers

If you are looking  for a specific card just for traveling, you are in the right place. Using travel cards or rewards credit cards  will allow you to collect points on everyday purchases, which you can later redeem. When you have enough points, you can use them to book hotels and flights.

These cards have many perks that make your journey more enjoyable. Whether you travel for business or simply enjoy visiting different places, this is a great financial decision. Each card option is different, so you need to look for one that suits your needs best. Below are some of the options.

American Express Cobalt® Card

American Express Cobalt® Card
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4.2
American Express Cobalt® Card
  • Annual Fee $155.88
  • Regular APR20.99% to 21.99%
  • Credit Score690-850
  • Loan TermsTill payday

Cobalt® Card allows you to participate in one of the most rewarding programs and reap the benefits. You can earn up to 30.000 membership rewards points per year. You get 5x points for food and drinks, 3x points for streaming services in Canada, 2x bonus points on travel and transit, and 1x on other expenses.

The annual interest rate is 20.99%, with a monthly fee of $12.99. APR on funds advances is 21.99%. You might even get coverage in case of a travel accident! They have excellent customer support and shopping coverage.

Amex Cobalt® offers you a great welcome offer, no annual fees, and points for any card purchases. One setback with American Express is that it might not be accepted in as many places as Visa and MasterCard. However, this rewards card is certainly worth looking into!

Chase Sapphire Preferred® Card

Chase Sapphire Preferred® credit card
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4.3
Chase Sapphire Preferred® Card
  • Annual Fee$95
  • Regular APR18.99% to 25.99%
  • Credit Score690-850
  • Loan TermsTill payday

You can earn up to 60.000 bonus points with Chase rewards card. Once you spend $4,000 or over on purchases, you will be able to redeem $750 for hotel stays and other travelling expenses. They have another way to earn points as well!

The Annual Percentage rate is variable, and it goes from 18.24% to 25.24%. The annual fee is $95. Their main advantages are trip cancellation protection, points balance transfer at a 1:1 rate with zero transaction fees, and multiple ways to earn rewards. Their main disadvantage is the annual fee.

However, bear in mind that you can earn 3x points for food expenses, 2x on travel card purchases, and 1x on other expenses. There are also no foreign transaction fees! Check out Chase Sapphire Preferred® Card and decide if it is best for you.

Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card
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4.2
Capital One Venture Rewards Credit Card
  • Annual Fee$95
  • Regular APR19.99%-29.99%
  • Credit Score690-850
  • Loan TermsTill payday

If you have good or excellent credit Capital One will let you collect travel rewards. You will earn 5 miles per dollar for hotel stays and rental cars through Capital One and 2 miles doing everyday also purchases. You can earn up to 75,000 bonus miles during the first 90 days after opening your account.

The Annual Percentage Rate varies from 18.99% to 26.99%. There is an annual fee of $95, but there are no foreign transaction fees! Using these credit cards, you can easily make a balance transfer to one of the numerous travel loyalty programs.

Their major advantages are:

  • unlimited rewards credit and ability to earn a lot;
  • benefits in case of a travel accident;
  • a splendid welcome bonus.

Their main drawback is the annual fee. If you can get past that one, Capital One Venture credit card is definitely a good option.

Citi Premier® Card

CITI PREMIER® CARD
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PayDaySay rating

4.3
Citi Premier® Card
  • Annual Fee$95
  • Regular APR21.24%-29.24%
  • Credit Score690-850
  • Loan TermsTill payday

This rewards credit card offers you up to 80,000 points if you spend over $4.000 within the first 90 days. You can easily redeem these points to get $800 in gift cards. In order to qualify for Citi Premier® credit cards, you must have a FICO® Score of 670.

Your score affects your APR, which can vary from 18.99% to 26.99%. There is an annual fee of $95, but the plus side is that there are no foreign transaction fees or other hidden charges. You can even use the points to shop with Amazon and BestBuy!

Some of their pros are 3x points on restaurants, shopping, gas stations, flights, and hotel stays. They also allow for a balance transfer with low interest. The biggest con of these credit cards is the annual fee. However, as most companies have a fee, this should not be a decision-making point when choosing your best credit card.

Wells Fargo Autograph Card

Wells Fargo Autograph
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PayDaySay rating

4.3
Wells Fargo Autograph Card
  • Annual Fee$0
  • Regular APR20.24%-29.99%
  • Credit Score690-850
  • Loan TermsTill payday

If you have a credit score of 670 or higher, you have the opportunity to get rewards points with Wells Fargo credit cards. The welcome offer gives you a chance to earn up to 30.000 bonus points. To get those $300 for redemption, you have to spend $1.500 within the first three months.

Unlike many other credit cards, this one does not have an annual fee! You get a 0% APR for the first 12 months as a part of the intro deal. After that, the APR varies from 17.99% to 27.99%.

Here are some of the pros and cons of the Wells Fargo Autograph Card:

Pros

  1. Unlimited 3x points on food, travel, gas, transit, and streaming
  2. Multiple redemption options
  3. No annual fee.

Cons

  1. 5% balance transfer fee
  2. Not many additional benefits.

Wells Fargo travel cards seem to be the best option if you are not looking for added perks.

Chase Freedom Unlimited®

Chase Freedom Unlimited®
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PayDaySay rating

4.3
Chase Freedom Unlimited®
  • Annual Fee$0
  • Regular APR20.49% to 29.24%
  • Credit ScoreGood/Excellent
  • Loan TermsTill payday

Chase Freedom Unlimited® is one of the best travel credit cards. As a new cardholder, you have a chance to earn 3% cash back on restaurants and drug stores and 1.5% on other purchases. You can earn a $200 bonus after spending only $500 within the first 90 days of opening your account!

APR on purchases and balance transfer is 0% for the first 15 months. After that, the percentage rate varies from 17.24% to 25.99%. There are foreign transaction fees that are very low.

Why Chase Freedom Unlimited®? Here is a list of pros and cons that will help you decide if it is best for you or not:

Pros

  1. Unlimited cash back
  2. Low APR for the first 15 months
  3. Excellent welcome bonuses
  4. No Annual Fee.

Cons

  1. You need a credit score over 690
  2. Bonuses can be complicated.

The Platinum Card® from American Express

The Platinum Card® Classic Platinum
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PayDaySay rating

4.4
The Platinum Card® from American Express
  • Annual Fee$695
  • Regular APR18.99% to 25.99%
  • Credit Score690-850
  • Loan TermsTill payday

If you are interested in high travel rewards, American Express Platinum Card® will be the best for you. Within the first 6 months, you can earn up to 150.000 points. All you have to do is spend $6.000 on purchases.

Annual Percentage Rate varies from 18.99% to 25.99%. There is an annual fee of $695 for this card. However, it does offer numerous benefits. You can get 5x points on flights and hotels and 1x on other expenses.

To make the best decision, you should look into advantages and disadvantages of Amex® Platinum:

Pros

  1. Best credit cards to collect rewards points
  2. Multiple redemption options
  3. Soft credit check.

Cons

  1. Large annual fee.

Bear in mind that if you are a frequent traveler, the annual fee will not be much of an issue. It can easily be justified with all the benefits. However, if you do not travel that much, you might want to look into other options.

Chase Freedom Flex

Chase Freedom Flex® Credit Card
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PayDaySay rating

4.2
Chase Freedom Flex
  • Annual Fee$0
  • Regular APR20.49%–29.24%
  • Credit Score690-850
  • Loan TermsTill payday

Chase Freedom Flex allows you to get travel credit and enjoy numerous other perks. Get up to 5% cash back on groceries if you spend $12,000 in the first year. That way, you can get $600 back!

If you spend $500 in the first 3 months, you can get a bonus of $200. The best part is there is no annual fee on Chase Freedom Flex. Their APR is 0% for the first 15 months, and after that, it goes from 17.24% to 25.99%. Balance transfer fees are charged.

Since cash back does not expire, you can use it as long as your account is active. Freedom Flex even provides you with cell phone insurance. Here is a list of advantages and disadvantages to help you choose the best among multiple credit cards out there:

Pros

  1. No annual fee
  2. Cashback
  3. Best welcome bonus.

Cons

  1. To qualify, you must have a good or excellent credit score
  2. 3% foreign transaction fees.

What Is a Travel Credit Card?

What Is a Travel Credit Card?

If you have heard of travel credit cards, but you are uncertain of what they are, stick around! What is the difference between regular credit cards and travel cards? The first thing you need to know about is rewards points.

With credit cards for traveling, you can earn the best bonuses by simply spending money from the card. Different cards offer different perks, but either way paying for food, flights, and hotels gets you points that can be redeemed.

Generally, you can use those points to book a hotel or purchase a plane ticket. Each card has its currency, but the most common ones are miles and points. Depending on the credit cards and companies, some might give you 2 points for each dollar spent, while others might offer more or less. Think about what suits your needs best.

How to Find the Best Travel Credit Card for You

Making a decision is the hardest when you have a lot of options. Choosing the best credit card requires a lot of research. You must compare and contrast multiple credit cards before opting for the best travel card for yourself.

There are quite a few features that you need to consider. From interest rates to cash back, you have to be aware of all aspects and what these credit cards bring to the table. Here is what you should keep in mind:

Annual Fees

Multiple credit card companies charge annual fees for using their travel cards. However, this does not mean you have to rule them out immediately. Even though some cards charge fees, they might provide better perks to justify the charges.

Interest Rates

You will find a lot of credit cards that charge 0% in the first year or even 15 months after opening your account. Make sure to compare APRs for each company. Choose the best one for your needs.

Tiered vs. Fixed Rewards

Tiered rewards are points you get for particular purchase categories. For example, you get 5x points for flights and 3x for groceries. Whereas fixed rewards offer the same number of points regardless of your card purchases. It is up to you to decide what is best.

Cash back Spending Caps

A lot of credit cards will offer you cash back as a welcome bonus. However, many of them will also have a spending cap. Make sure you do not lose out on any rewards.

Pros and Cons of Travel Cards

Travel cards are the best and most convenient option for those who often enjoy trips. Sometimes, these are a good idea, and sometimes that is not the case. To get the full picture of credit cards for traveling, you must consider all advantages and disadvantages.

Pros:
  • Earning points/miles
All credit cards for traveling allow you to earn points for making card purchases. You can get points for groceries, gas, and so on. Some rewards are fixed, and some are flexible.
  • Redemption options
You can redeem your points for booking a hotel, a plane ticket, or even getting a gift card.
  • Cash back
A lot of credit cards provide you cash back for certain purchases if you meet their requirements.
  • Other perks
By using a travel card, you might be able to get the best hotel room or a plane ticket upgrade.
  • Introductory bonuses
Most companies offer excellent welcome packages for new cardholders. This usually includes a lot of bonus points!

 

Cons:
  • Annual fee
There are multiple credit card companies that have an annual fee set for travel cards.
  • Foreign transaction fees
You might be charged a certain percentage for making remote transactions. This is not the case with all credit cards.
  • Balance transfer charges
If you are looking to transfer your balance to a different card or a program, you might face certain charges.

Making The Most Of Your Travel Card

Before you get a travel card, or if you already have one, you should learn some tips to make the most of it. What is the best way to utilize your card and maximize rewards? Here are a couple of ideas:

  1. Always read the terms and conditions for rewards credit
  2. Search for all bonus opportunities
  3. Collect points for everyday expenses
  4. Learn about the bonus categories
  5. Travel more by developing the best plan for traveling rewards

Conclusion

Travel cards offer numerous perks to cardholders. With a couple of drawbacks, they certainly have a lot more good things to provide. From various bonuses to saving money on traveling, these cards have it all.

To find the best credit card for yourself, make sure to look into different possibilities. There are a lot of companies out there waiting for you to become a customer. Think wisely and do your research before you embark on this journey.

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Frequently Asked Questions

There are many travel cards to choose from, each offering different benefits. Chase Sapphire Preferred® Card and The Chase Sapphire Reserve®  are definitely at the top of the list. However, bear in mind that nobody has the same needs, so different options are for different people.

A credit score is a requirement that truly depends on the company. Naturally, you need a good or excellent credit score to qualify. That would be 690 or over.

A travel card is a better option because of all the benefits if you travel a lot. Although, a cashback card might be cheaper. Some travel cards also have a cash-back option, and so you can get the best of both worlds.

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