Canada’s leading personal finance magazine pinpointed its best Canadian credit cards in terms of cash-back and rewards in its recent September/October 2011 issue. In the travel category, MoneySense identified its 10 favourite cards.
The online story doesn’t include the picks, but we’ve included them here from the print edition, along with the primary rewards for each.
Seven of the ten cards chosen have annual fees of up to $150 (most are $120) and six have minimum income requirements ($15K–$100K). In the print magazine a handy breaks down how much you’ll actually save annually if you spend $500; $1,000; or $4,000 per month and fly out of Toronto, Calgary or Vancouver.
The best in every category in terms of dollar value is the Aspire World MaterCard, which saves a traveller based in one of those three cities $170/year with a $500/month expenditure and, respectively $290/year and $1,010/year for every $1,000 or $4,000 per month spent.
- Capital One Aspire World MasterCard – travel, medical and trip cancellation insurance*†
- CIBC Aventura World MasterCard – medical and travel insurance*†
- CIBC Aerogold VISA Infinite – travel and car-rental insurance*†
- CIBC Aerogold VISA – travel and car-rental insurance*†
- BMO World Elite MasterCard – medical, travel and car-rental insurance*
- CIBC Aventura VISA Infinite – medical and car-rental insurance (annual fee is $39—far less than other cards)*†
- American Express BlueSky – travel accident insurance
- Capital One Aspire Gold MasterCard – travel, car-rental, baggage and flight-delay, and purchase insurance; extended warranty†
- American Express Air Miles – travel accident insurance; extra Air Miles with Air Miles card
* Annual fee
† Income requirement