American Express Cobalt® Card
The American Express Cobalt® Card is one of the most decorated and award-winning credit cards in the Canadian market, giving massive rewards value for travel and groceries.
Rewards: Earn 5 Membership Rewards per dollar spent on groceries (up to $30,000 annually), 3 Membership Rewards points per dollar spent on eligible streaming subscriptions in Canada, 2 Membership Rewards points per dollar spent on rideshares, transit, and gas in Canada 1 Membership Rewards point per dollar spent on all other eligible purchases and 1 additional Membership Rewards point for every dollar spent on eligible hotel or car rental bookings made with American Express Travel.
Welcome Offer: In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets
Annual Fee: $155.88 ($12.99 per month)
Other Benefits and Drawbacks: Despite the annual fee and the fact that Amex is still not accepted in as many places in Canada as Visa or Mastercard, (though the Amex acceptance map is expanding) the American Express Cobalt remains arguably the most lucrative credit card in Canada. It dominates two categories (travel and groceries) with the value of its annual rewards. Plus, the ability to transfer Membership Rewards points at a one-to-one ratio to many loyalty programs makes it extremely versatile for frequent flyers.
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CIBC Aventura Gold Visa
The CIBC Aventura Visa Gold card is a good alternative to the Amex Cobalt with a slightly lower annual fee and slightly less annual rewards value, earning an estimated $444 per year with the annual fee factored in. It also has similar redemption flexibility to the Cobalt card and includes travel insurance options.
Rewards: 2 Aventura Points per dollar spent on travel purchases made through the CIBC Rewards Centre. Plus 1.5 points per dollar spent on gas, grocery, and drug purchases and 1 point per dollar on all other purchases.
Welcome Offer: 35,000 Aventura Points (earn 15,000 points when you make your first purchase and 20,000 points when you spend $3,000 or more in the first four monthly statement periods).
Annual Fee: $139 (First year rebated)
Other Benefits and Drawbacks: Though the $139 annual fee and the $15,000 personal annual income requirement could be considered drawbacks, a big benefit is the fact that one Aventura point is worth an average of $0.02 per point when redeeming for travel and they could be worth between 2.3 to 2.8 cents per point depending on the route you’re redeeming for. This means that the Aventura Gold (and any Aventura credit card) stretches your dollar even further than the typical points-based credit card loyalty program that keeps its points worth an average of $0.01 per point.
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CIBC Aventura® Visa Infinite* Card
Basically the same offering as the Aventura Gold Visa Card with higher annual earnings and extra Visa Infinite benefits.
Rewards: 2 Aventura Points per dollar spent on travel purchases made through the CIBC Rewards Centre. In addition, you’ll get 1.5 points per dollar spent on gas, grocery, and drug purchases and 1 Aventura point per dollar for all other purchases.
Welcome Offer: Earn up to 35,000 Aventura Points (up to $1,400 in travel value): 15,000 Aventura Points after making your first purchase and 20,000 Aventura Points after spending $3,000 or more in net purchases in the first 4 monthly statement periods. Terms and conditions apply. This offer is not available to residents of Quebec.
Annual Fee: $139 (rebated in the first year)
Other Benefits and Drawbacks: You’ll get the network exclusives and benefits of the Visa Infinite banner, like special events and experiences, but you need to be making $60,000 as an individual and $100,000 as a household for the privilege.
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CIBC Aeroplan® Visa Infinite* Card
A great card for Air Canada frequent fliers who also want Visa Infinite benefits. It also gives you annual reward earnings totaling $527.32 based on an average spend in a number of common purchase categories from Canadians.
Rewards: 1.5 Aeroplan Points for every dollar spent on gas, groceries, and Air Canada flights, including through Air Canada vacations. 1 point per dollar on all other purchases and you can earn points twice when you shop at 150 Aeroplan partners and 170 eStore online retailers.
Welcome Offer: A welcome bonus of up to 50,000 Aeroplan points (10,000 points with first purchase, 15,000 after four months of spending $4,000 or more, and 25,000 as an anniversary bonus). Terms apply. This offer is not available to residents of Quebec.
Annual Fee:$139 (Get an annual fee rebate)
Other Benefits and Drawbacks: Though you’ll need at least $60,000 in annual individual personal income or $100,000 in household income to qualify for this card, it will give you supplemental benefits like a free checked bag and a full suite of travel insurance options. Plus, redeem for flights, merchandise, gift cards, and more.
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CIBC Aventura Visa Infinite Privilege
For a hefty annual fee, cardholders get every premium credit card benefit a traveller could want.
Rewards: 3 Aventura points per dollar on all travel purchases made through the CIBC Rewards Centre. Plus, 2 points per dollar on all eligible dining, entertainment, grocery, gas, and transportation purchases. Finally, you’ll get 1.25 points per dollar on all other purchases.
Welcome Offer: 80,000 Aventura Points in the first year. This means 50,000 Aventura Points when you spend $3,000 or more over your first four statement periods and 30,000 Aventura Points as an additional account anniversary bonus.
Annual Fee: $499
Other Benefits and Drawbacks: This card has a huge $499 annual fee and income requirements that will exclude most Canadians from applying for it at $150,000 individual or $200,000 household annual income. Still, if you can afford it, a world of luxury benefits is open to you like airport lounge access, dedicated taxi and limousine service, exclusive dining and wine experiences, a car rental discount, high dollar maximums on travel insurance, and even a metal credit card for every successful applicant.
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WestJet RBC® World Elite Mastercardǂ
This card offers flexible rewards and generous trip and World Elite credit card network benefits, including insurance, for frequent WestJet fliers. However, it offers a modest annual rewards value of $311.69 according to average Canadian spending.
Rewards: 2% back in WestJet dollars when you book WestJet flights and vacation packages. Plus, 1.5% back in WestJet dollars on everyday purchases.
Welcome Offer: For a limited time, earn up to 700 WestJet dollars*. Get 300 WestJet dollars after the first purchase, 300 WestJet dollars after spending $5,000 in the first 3 months, and 100 WestJet dollars as a one-time anniversary bonus. *Terms and conditions apply.
Annual Fee: $119, additional cards are $59
Other Benefits and Drawbacks: Though the base earns rate of 1.5% can be beaten easily by other travel credit cards, the annual companion voucher, the free-checked bag, the World Elite benefits like membership in the airport lounge club, Mastercard Airport Experiences and 10 types of insurance, make a compelling case to any potential cardholder who likes flying WestJet.
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RBC Avion Visa Infinite
Your dollar can go further per point with the RBC Avion Visa Infinite as long as you redeem for the right rewards.
Rewards: 1 Avion Point per every dollar spent and an extra 25% savings on eligible travel purchases.
Welcome Offer: Get up to 55,000 Avion points* (a value of up to $1,100†). Get 35,000 points on approval and 20,000 points after spending $5,000 in the first 6 months. Apply by November 25, 2024.
Annual Fee: $120
Other Benefits and Drawbacks: Though the RBC Airline Redemption Schedule gives you incredible value per point, other modes of redemption, though flexible, only give you 1% in value. The extra travel benefits like the Rexall Be Well points and Petro-Points are nice, but you have to decide if the extra perks and insurance are worth the high-income requirements.
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CIBC Aeroplan® Visa* Card
A great card if you want flexible rewards that cover taxes and fees on flights with a little bit of travel and purchase insurance for no annual fee.
Rewards: 1 Aeroplan Point per dollar on gas, groceries, and Air Canada purchases, including Air Canada vacation packages. Also, get 1 point per $1.50 on all other purchases.
Welcome Offer: 10,000 Aeroplan Points when you make your first purchase ($200 in travel value).
Annual Fee: $0
Other Benefits and Drawbacks: Though the base earn rate and welcome bonus are low, it’s still nice to get flexible rewards that can be redeemed for flights, gift cards, and merchandise with a modest selection of travel and purchase insurance for no annual fee.
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TD® Aeroplan® Visa Infinite Privilege* Card
If you’re looking for every possible travel perk, reward, and consumer protection a TD card has to offer, look no further than this one.
Rewards: Earn 2 Aeroplan Points for every dollar spent on Air Canada purchases, including Air Canada Vacations. Cardholders also earn 1.5 points for every dollar spent on gas, groceries, travel, and dining purchases, as well as 1.25 points on every dollar for other purchases made with their card.
Welcome Offer: Earn up to $2,900 in value† including up to 80,000 Aeroplan points (enough for a round trip to Honolulu†) and additional travel benefits. Earn a welcome bonus of 20,000 Aeroplan points when you make your first purchase with your new card†. Earn an additional 30,000 Aeroplan points when you spend $12,000 within 180 days of Account opening†. Plus, earn a one-time anniversary bonus of 30,000 Aeroplan points when you spend $24,000 within 12 months of Account opening†.
Terms and conditions apply. Not available for residents of Quebec. The account must be approved by January 6, 2025.
Annual Fee: $599
Other Benefits and Drawbacks: Cardholders need a minimum annual income of $150,000 individually, or $200,000 together, so this card is beyond the means of most Canadians.
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TD® Aeroplan® Visa Platinum* Card
All of the features found in TD’s more expensive cards for under $100 a year.
Rewards: Earn 1 point for every dollar spent on eligible gas, grocery, and direct through Air Canada® purchases (including Air Canada Vacations®) made with your card. Earn 1 point† for every $1.50 spent on all other eligible purchases made with your Card. Earn points twice when you pay with your Card and provide your Aeroplan number at over 150 Aeroplan partner brands and at 170+ online retailers via the Aeroplan eStore (www.aeroplan.com/estore).
Welcome Offer: Earn a welcome bonus of 10,000 Aeroplan points when you make your first purchase with your new card and earn an additional 10,000 Aeroplan points when you spend $1,000 within 90 days of Account opening.† Terms and conditions apply. Not available for residents of Quebec. Must be approved by January 6, 2025.
Annual Fee: $89 (Get a first-year annual fee rebate; account must be approved by January 6, 2025)
Other Benefits and Drawbacks: This card’s insurance coverage is lower than other TD Aeroplan offerings, but it does allow cardholders to earn Aeroplan Points twice at certain participating retailers.
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Alterna Savings Visa Infinite Card
A cheap annual fee ($89) gets you quite the selection of travel perks, benefits, and insurance.
Rewards: 3 points per dollar on grocery purchases, 2 points per dollar on dining and entertainment purchases, and 1 point per dollar on all other purchases.
Welcome Offer: A welcome bonus of 15,000 Welcome Points worth $150 that you can redeem for gift cards, travel experiences, and cash rewards in the form of statement credit.
Annual Fee: $120
Other Benefits and Drawbacks: There’s a low welcome offer and modest annual rewards but you do get a lot of travel benefits for only an average annual fee.
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WestJet RBC Mastercard
Welcome Offer: Up to $100 WestJet Dollars when you spend $1,000 in the first 3 months and make your first purchase.
Rewards: Earn 1% in WestJet dollars for every qualifying purchase you make on your card and 1.5% in WestJet dollars when you buy WestJet flights or WestJet vacation packages.
Annual Fee: $39, additional cards are $19
Other Benefits and Drawbacks: It may come with a low annual fee and a good selection of insurance, but the welcome bonus and earning rate are modest. Still, with the lower barrier for entry thanks to an average qualifying credit score, it might be the window to collecting WestJet Dollars faster for the rest of us.
Credit card data research and analysis by Debra Toews and Tia Duncombe.
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Publish date : 2024-10-23 00:37:00
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