The best travel credit card in Canada depends on two things: how much you spend in foreign currencies, and whether you fly Air Canada or stay at Marriott often enough to use a loyalty card’s perks. This guide compares seven travel cards, the cards with no foreign transaction fee, and the U.S.-dollar cards, so you can see which one fits your spending. YieldMaple checked every fee, earn rate and welcome offer below on the issuers’ own pages on October 7, 2026. This page is general education, not financial advice.
Looking for something specific? Best Aeroplan credit cards for Air Canada flyers · best cashback credit cards · best no-fee credit cards · Marriott Bonvoy Amex review · MBNA Rewards World Elite review.
Best travel credit cards in Canada at a glance
| Feature | Card | Annual fee | Top earn rate | No foreign transaction fee? | Welcome offer |
|---|---|---|---|---|---|
| Scotiabank Passport Visa Infinite+ | $150 | 3 Scene+ points per $1 at Sobeys, Safeway, IGA, FreshCo and other Sobeys-family stores | Yes (better on this row) | 25,000 bonus Scene+ points when you spend $2,000 in the first 3 months | |
| American Express Cobalt | $191.88 a year | 5 points per $1 at eligible restaurants, coffee shops, bars, stand-alone grocery stores and food delivery in Canada (better on this row) | Not advertised | up to 15,000 Membership Rewards points in the first year | |
| American Express Aeroplan Reserve | $599 | 3 Aeroplan points per $1 on eligible Air Canada and Air Canada Vacations purchases | Not advertised | 60,000 Aeroplan points after $7,500 in purchases in the first 3 months | |
| Marriott Bonvoy American Express | $120 | 5 Bonvoy points per $1 on Marriott purchases; 2 points per $1 on everything else | Not advertised | 60,000 Bonvoy points after $3,000 in purchases in the first 3 months, plus 10,000 after $500 in month 13 | |
| TD Aeroplan Visa Infinite | $139 | 1.5 Aeroplan points per $1 on eligible gas, EV charging, grocery and direct Air Canada purchases | Not advertised | up to 50,000 Aeroplan points plus a first-year annual fee rebate | |
| BMO Ascend World Elite Mastercard | $150, waived in the first year | 5 BMO Rewards points per $1 on eligible travel | Not advertised | up to 115,000 BMO Rewards points (an elevated offer, up from 100,000) | |
| Rogers Red Mastercard | no annual fee; approval subject to credit assessment (no minimum income listed) (better on this row) | 2% on all eligible purchases with an eligible Rogers service; without one, 2% on U.S.-dollar purchases and 1% on everything else — on the first $16,000 a year, then 1% | 2.5% (0% only on the Rogers Red World Legend Mastercard) | None listed here |
Sources: Scotiabank, American Express Canada, TD, BMO and Rogers Bank product pages, checked October 7, 2026. 'Not advertised' means the issuer's product page doesn't list a no-FX feature. The American Express welcome offers shown are Amex's standard public offers, checked October 8, 2026; Amex's product pages showed some visitors higher ones. Welcome offers change often; the issuer's page on the day you apply is the one that counts.
The Scotiabank Passport Visa Infinite+ is the only card in this table that charges no foreign transaction fee, for $150 a year. The American Express Cobalt has the highest everyday earn rate, 5 points per $1 at eligible restaurants, coffee shops, bars, stand-alone grocery stores and food delivery in Canada. The American Express Aeroplan Reserve’s standard welcome offer is 60,000 Aeroplan points after $7,500 in purchases in the first 3 months, and the BMO Ascend World Elite advertises up to 115,000 BMO Rewards points (an elevated offer, up from 100,000); the two are paid in different points programs, so the raw numbers can’t be compared directly. The Rogers Red Mastercard is the only card in the table with no annual fee.
How do you choose a travel credit card in Canada?
Choose a travel credit card by matching it to three habits: how much you spend in foreign currencies, where your everyday spending goes, and which airline or hotel you use most.
- Foreign-currency spending. Wealthsimple says most Canadian cards add a 2.5% surcharge on purchases in foreign currencies. If you travel abroad or shop in U.S. dollars online often, a card with no foreign transaction fee removes that cost on every purchase.
- Everyday spending. Restaurant- and grocery-heavy households earn fastest on the Amex Cobalt. Air Canada spending earns fastest on the Aeroplan Reserve.
- Loyalty. If you fly Air Canada several times a year, an Aeroplan card’s airport perks add value. If you don’t, flexible points (Amex Membership Rewards) or a no-FX card are usually simpler.
The 2026 picks, card by card
1. Scotiabank Passport Visa Infinite+: strongest all-round pick
- Annual fee: $150 a year for the primary card ($0 for the first additional card, $50 for each one after that)
- Foreign transaction fee: none — only the exchange rate applies (Scotiabank calls 2.5% the typical fee it replaces)
- Earn rate: 3 Scene+ points per $1 at Sobeys, Safeway, IGA, FreshCo and other Sobeys-family stores; 2 Scene+ points per $1 on other grocery, dining, entertainment and daily transit purchases; 1 Scene+ point per $1 on all other purchases
- Lounge access: a Visa Airport Companion Program membership with six complimentary lounge visits a year
- Welcome offer: 25,000 bonus Scene+ points when you spend $2,000 in the first 3 months, for accounts opened between August 4, 2026 and November 1, 2026; plus 10,000 bonus Scene+ points each year you spend $40,000 on the card
Why it leads: the Scotiabank Passport Visa Infinite+ is one of the few big-bank travel cards that combines no foreign transaction fee with airport lounge visits and built-in travel insurance. The no-FX feature is the deciding fact: every purchase in U.S. dollars, euros or pounds is charged at the exchange rate only. Its earn rate is lower than the Cobalt’s, and the top rate applies only at Sobeys-family grocery stores.
Fits: Canadians who travel abroad at least once or twice a year and want one card for both trips and everyday spending. The full Scotiabank Passport Visa Infinite review and the Scotia Passport annual fee breakdown cover the details.
Editorial pick
Scotiabank Passport Visa Infinite+
2. American Express Cobalt: highest everyday earn rate
- Card fee: $15.99 a month ($191.88 a year) outside Quebec; Quebec residents pay $191.88 once a year
- Earn rate: 5 points per $1 at eligible restaurants, coffee shops, bars, stand-alone grocery stores and food delivery in Canada (up to $2,500 in combined net purchases a month, then 1 point per $1); 3 points per $1 on eligible streaming subscriptions in Canada; 2 points per $1 on eligible gas, transit and ride share in Canada; 1 point per $1 on everything else
- Foreign transaction fee: not advertised as a no-FX card
- Travel medical insurance: up to $5,000,000 for the first 15 consecutive days of a trip, if you are under 65
- Welcome offer: up to 15,000 Membership Rewards points in the first year: 1,250 points for each monthly billing period in which you spend $750 in your first year
Why it’s the points leader: the American Express Cobalt earns five points per dollar on restaurants, coffee shops, stand-alone grocery stores and food delivery, and its Membership Rewards points transfer to Aeroplan at 1,000 Membership Rewards points = 1,000 Aeroplan points and to Marriott Bonvoy at 1,000 Membership Rewards points = 1,200 Marriott Bonvoy points. The fee is billed monthly, and the welcome offer is modest next to the premium cards in this guide. The Amex Cobalt review and the Amex Cobalt fee guide go deeper.
Fits: dining- and grocery-heavy spenders who want flexible points, ideally paired with a no-FX card for trips abroad.
Editorial pick
American Express Cobalt
3. American Express Aeroplan Reserve: premium Air Canada card
- Annual fee: $599, rising to $799 on annual fees charged on or after January 12, 2027
- Earn rate: 3 Aeroplan points per $1 on eligible Air Canada and Air Canada Vacations purchases; 2 Aeroplan points per $1 on eligible dining and food delivery in Canada; 1.25 Aeroplan points per $1 on everything else
- Welcome offer: 60,000 Aeroplan points after $7,500 in purchases in the first 3 months, plus 25,000 more Aeroplan points when you spend $2,500 in month 13
- Travel medical insurance: up to $5,000,000 for the first 15 consecutive days of a trip, if you are under 65
Premium perks listed by Amex:
- Maple Leaf Lounge access: complimentary access to Maple Leaf Lounges and Air Canada Cafés in Canada and the United States, with one guest per eligible Cardmember
- Annual Worldwide Companion Pass (Amex’s terms set the conditions)
- Priority airport services: priority check-in and priority boarding with Air Canada
- Free first eligible checked bag on Air Canada
- NEXUS credit: up to $100 in statement credits every four years toward a NEXUS application or renewal fee
The fee change matters: the standard welcome offer adds up to 85,000 Aeroplan points, but the annual fee rises by $200 from January 12, 2027. The Aeroplan Reserve makes sense only for people who will use the lounges, the companion pass and the checked-bag benefit several times a year. The Amex Aeroplan Reserve review and the best Aeroplan credit card guide compare it with cheaper Aeroplan cards.
4. Marriott Bonvoy American Express: hotel loyalty pick
- Annual fee: $120
- Earn rate: 5 Bonvoy points per $1 on Marriott purchases; 2 points per $1 on everything else
- Annual benefit: an Annual Free Night Award after each card anniversary
- Status: 15 Elite Night Credits each calendar year, plus complimentary Silver Elite status
- Welcome offer: 60,000 Bonvoy points after $3,000 in purchases in the first 3 months, plus 10,000 after $500 in month 13
Why it works for Marriott guests: the Marriott Bonvoy Amex is built around its annual free night. If that night replaces a hotel stay you would have paid for, it can outweigh the fee on its own. For anyone who rarely stays at Marriott properties, the free night and status have little use. The Marriott Bonvoy Amex review has the full breakdown.
5. TD Aeroplan Visa Infinite: big-bank Aeroplan card
- Annual fee: $139
- Earn rate: 1.5 Aeroplan points per $1 on eligible gas, EV charging, grocery and direct Air Canada purchases
- Welcome offer: up to 50,000 Aeroplan points plus a first-year annual fee rebate
- Income requirement: $60,000 personal or $100,000 household income a year
Why pick TD over an Amex Aeroplan card: the TD Aeroplan Visa Infinite runs on Visa, which more merchants accept than American Express, and it sits alongside TD bank accounts. It earns less on Air Canada purchases than the Aeroplan Reserve and has a shorter list of airport perks, but its fee is less than a quarter of the Reserve’s.
6. BMO Ascend World Elite Mastercard: flexible travel points
- Annual fee: $150, waived in the first year
- Earn rate: 5 BMO Rewards points per $1 on eligible travel; 3 BMO Rewards points per $1 on eligible dining, entertainment and recurring bill payments
- Welcome offer: up to 115,000 BMO Rewards points (an elevated offer, up from 100,000)
- Income requirement: $80,000 individual or $150,000 household income a year
Correction to older versions of this guide: the BMO Ascend earns BMO Rewards points, not AIR MILES. The BMO Ascend World Elite fits travellers who want a high earn rate on travel bookings in a bank points program rather than an airline or hotel program. The high income requirement rules it out for many applicants.
7. Rogers Red Mastercard: no-fee option for U.S.-dollar spending
- Annual fee: no annual fee; approval subject to credit assessment (no minimum income listed)
- Cash back: 2% on all eligible purchases with an eligible Rogers service; without one, 2% on U.S.-dollar purchases and 1% on everything else — on the first $16,000 a year, then 1%
- Foreign transaction fee: 2.5% (0% only on the Rogers Red World Legend Mastercard)
What it does and doesn’t do: the Rogers Red Mastercard doesn’t remove the foreign transaction fee. For cardholders without an eligible Rogers service, the 2% cash back on U.S.-dollar purchases offsets most of the 2.5% fee, leaving a net cost of about 0.5% on U.S.-dollar spending. Purchases in other foreign currencies earn the 1% base rate, so the fee costs more there. It suits casual travellers who won’t pay an annual fee; the best cashback credit cards guide covers its everyday cash back.
No foreign transaction fee credit card options in Canada: which cards qualify?
On October 7, 2026, four credit cards YieldMaple checked charge no foreign transaction fee: the Scotiabank Passport Visa Infinite+, the Scotiabank Gold American Express, the Home Trust Preferred Visa and the Wealthsimple credit card.
| Card | Annual fee | Foreign transaction fee | Catch |
|---|---|---|---|
| Scotiabank Passport Visa Infinite+ | $150 | none — only the exchange rate applies (Scotiabank calls 2.5% the typical fee it replaces) | Top earn rate only at Sobeys-family stores |
| Scotiabank Gold American Express | $120 | none — only the exchange rate applies | American Express isn’t accepted everywhere |
| Home Trust Preferred Visa | No annual fee | No foreign exchange fees | none — foreign transactions, including online purchases in foreign currencies, don't earn cash back |
| Wealthsimple credit card | $240 a year ($20/month), waived with $100,000+ in individual assets or $4,000+/month direct deposit | 0% | Income requirement: a personal income of at least $80,000 or household income of at least $150,000 |
- Scotiabank Passport Visa Infinite+ costs $150 a year and charges none — only the exchange rate applies (Scotiabank calls 2.5% the typical fee it replaces). It is the only card here that adds airport lounge visits.
- Scotiabank Gold American Express costs $120 a year, charges none — only the exchange rate applies, and earns 5 Scene+ points per $1 on grocery (outside Sobeys-family stores), dining and entertainment; 6 per $1 at Sobeys-family stores. The trade-off is Amex acceptance.
- Home Trust Preferred Visa has no annual fee, no foreign exchange fees and 1% cash back. The catch is in Home Trust’s fine print: foreign purchases earn none — foreign transactions, including online purchases in foreign currencies, don't earn cash back.
- Wealthsimple credit card charges a 0% foreign transaction fee and pays 2% on every purchase. It costs $240 a year ($20/month), waived with $100,000+ in individual assets or $4,000+/month direct deposit. Wealthsimple is a YieldMaple referral partner; the Wealthsimple credit card guide covers its limits as well as its strengths, and our complete Wealthsimple guide covers the rest of the platform.
Brim is off the list. Older versions of this guide named Brim as a no-FX card. Brim’s own website now lists a 1.5% foreign transaction fee, lower than the typical 2.5% but not zero.
What is the best US dollar credit card in Canada?
The two big-bank cards that bill in U.S. dollars are the TD U.S. Dollar Visa, at US$39 a year, and the CIBC U.S. Dollar Aventura Gold Visa, at US$35 (first year rebated under the current offer).
- TD U.S. Dollar Visa: US$39 a year, with no credit card foreign currency conversion fees on purchases made in U.S. dollars.
- CIBC U.S. Dollar Aventura Gold Visa: US$35 (first year rebated under the current offer), earning 1 point per $1 on eligible travel booked through the CIBC Rewards Centre; 1 point per $2 on all other purchases; no currency conversion fees on USD purchases. The CIBC U.S. Dollar Aventura Gold Visa adds a modest rewards layer on top of the currency benefit.
A U.S.-dollar card only removes conversion costs if the bill is paid with U.S. dollars you already have, for example from U.S. income or a U.S.-dollar account (the Wealthsimple USD account guide explains one way to hold them). If the bill is paid by converting Canadian dollars, the conversion cost comes back at payment time. For most occasional U.S. travellers, a Canadian-dollar card with no foreign transaction fee from the list above is simpler.
How much does a 2.5% foreign transaction fee cost on a trip?
On a $5,000 trip paid in a foreign currency, a 2.5% foreign transaction fee adds $125 on top of the exchange rate.
That is the cost a no-FX card removes. To see whether a no-FX card with a fee pays for itself on FX savings alone, divide its fee by the 2.5% fee it replaces:
- Scotiabank Passport Visa Infinite+: the $150 fee equals the FX fee on about $6,000 of foreign-currency spending a year. Below that, the lounge visits, insurance and points have to make up the difference.
- Scotiabank Gold American Express: the $120 fee equals the FX fee on about $4,800 of foreign-currency spending a year, before its Scene+ points.
- Home Trust Preferred Visa: no annual fee, so every foreign-currency purchase saves the full 2.5%, but those purchases earn no cash back.
These figures ignore the exchange rate itself, which Visa, Mastercard or Amex sets and every card pays.
Is a premium travel card worth the annual fee?
A premium travel card is worth its fee only when the perks you actually use, such as lounge visits, checked bags and companion fares, are worth more than the fee each year.
The American Express Aeroplan Reserve shows the trade-off. Its fee is $599 today and $799 on annual fees charged on or after January 12, 2027. In return, it includes complimentary access to Maple Leaf Lounges and Air Canada Cafés in Canada and the United States, a first checked bag free on Air Canada, priority airport services, the Annual Worldwide Companion Pass and up to $100 in statement credits every four years toward a NEXUS application or renewal fee. Someone who flies Air Canada a few times a year with a travel partner can get value from each of those. Someone who flies once a year mostly pays for perks they won’t use, and the $150 Scotiabank Passport, with six lounge visits a year, covers the basics for far less.
Common Canadian travel card mistakes
- Paying the foreign transaction fee without noticing. Wealthsimple says most Canadian cards add a 2.5% surcharge on purchases in foreign currencies. It shows up as a separate line or is built into the converted amount, and it applies to online purchases in foreign currencies too.
- Holding points indefinitely. Loyalty programs, including Aeroplan, Marriott Bonvoy and AIR MILES, can change how many points a reward costs. Points earned toward a specific trip are worth more when used than when saved.
- Paying a premium fee for unused perks. Lounge access and companion passes only have value if they get used. The fee is charged either way.
- Relying on one American Express card abroad. American Express isn’t accepted by every merchant, so an Amex-only wallet can leave a traveller stuck. A no-FX Visa or Mastercard as a second card covers that gap.
- Assuming the card’s insurance covers everything. Travel medical and trip cancellation coverage usually applies only when the trip is charged to the card, and age and trip-length limits apply. The insurance certificate lists the exact terms.
The verdict: which travel card fits which traveller
- Pick the Scotiabank Passport Visa Infinite+ if you want one card for trips abroad and everyday spending, with no foreign transaction fee and a few lounge visits a year.
- Pick the American Express Cobalt if most of your spending is on restaurants and groceries and you want flexible points, paired with a no-FX card for travel.
- Pick the American Express Aeroplan Reserve if you fly Air Canada often and will use the lounges, checked bags and companion pass enough to cover a fee that is rising to $799.
- Pick the Marriott Bonvoy Amex if you stay at Marriott hotels every year and will use the annual free night.
- Pick the TD Aeroplan Visa Infinite if you want Aeroplan points on a Visa from a big bank without a premium fee.
- Pick the Home Trust Preferred Visa if you want no annual fee and no foreign transaction fee, and don’t need rewards on foreign purchases.
- Pick a U.S.-dollar card if you already earn or hold U.S. dollars to pay the bill.
This guide is general education, not financial advice. Card terms change often, so the issuer’s page on the day you apply is the final word.
Related guides
- Best credit cards in Canada: the full credit card landscape
- Best Aeroplan credit card in Canada: Aeroplan-specific picks
- Best cashback credit cards in Canada: cashback alternatives
- Marriott Bonvoy Amex review: the full Marriott card review
- MBNA Rewards World Elite review: an alternative high-earn card