Best Travel Reward Cashback Credit Cards Canada

Best Travel Reward Cashback Credit Cards Canada

By |2018-11-06T22:18:27+00:00November 6th, 2018|Categories: Credit Cards|Tags: , , |

Regardless of whether you travel weekly for business or a few times a year for a family vacation, there are a number of credit cards that offer cash-back for travelling. This might include anything from buying an airline ticket to renting a hotel. You could be well on your way to saving for your next vacation if you plan responsibly and use the right cash-back card!

Simply Cash Car from American Express

If you are looking for a travel rewards card with no annual fee, consider the Simply Cash Car from American Express. In addition to no annual fee, you can transfer balances for a low rate of 1.99% for a limited period of time (currently six months). You will also be rewarded with 5% cashback. You must have an excellent credit score in order to obtain this card.

As a frequent traveller, you can choose the American Express Simply Cash Card. Here are some of the benefits:

  • No annual fees applicable
  • Permits the transfer of balances for a low rate of interest at 1.99% for a fixed time interval that is 6 months as of now
  • Cashback rewards of 5%
  • The requirement of an impressive credit score to qualify for the card

Interest Rate

19.99%

Annual Fee

No Annual Fee

Balance Transfer: 1.99% Balance Transfer for first 6 months and 22.99% after

Cash Advance: 22.99%

Welcome Bonus

1.99% Balance Transfer for first 6 months

Scotiabank American Express Card

The Scotiabank American Express Card does not have annual fees for extras or privileges. It works as both a standalone or as a secondary card for current Scotia Rewards collectors. You receive one Scotia Rewards point for each dollar you spend on the card, valid for travel (hotels, flights, car rentals, cruises, and vacation packages), gift cards, merchandise (including Best Buy and Apple catalogues), or as a credit towards your monthly payment.

Interest Rate

19.99%

Annual Fee

$0

Balance Transfer: 22.99%

Cash Advance: 22.99%

Welcome Bonus

Earn 5,000 bonus points with your first $500 in everyday purchases in first 3 months

American Express AIR MILES Platinum Credit Card

Another great option is the American Express AIR MILES Platinum Credit Card. This card has a $65 annual fee and, like the last card reviewed, you can transfer balances for a low-interest rate of 1.99% for six months. With this card, you earn one reward mile for every $10 spent are certain locations, such as gas stations, drugstores, grocery stores, and AIR MILES partners. Other purchases will score you one point for every $15 spent. You can read more about the perks of this credit card here: https://www.comparemyrates.ca/credit-card-american-express/creditcard/american-express-air-miles-platinum-credit-card/

  • Applicable annual fees of $65
  • Permits the transfer of balances at low-interest rates of 1.99% for 6 months
  • Each time users spend $10 at specific grocery stores, drugstores, gas stations or other partnering AIR MILES businesses, they can earn one reward mile.
  • Purchases of every $15 at any other store earns 1 point

Interest Rate

19.99%

Annual Fee

$65

Balance Transfer: 1.99% Balance Transfer for first 6 months and 22.99% after

Cash Advance: 22.99%

Welcome Bonus

1.99% Balance Transfer APR for 6 months + 0% transfer fee - after 6 months 22.99%

What are the benefits of Cashback Credit Cards?

You have most likely been solicited to join a rewards program through specific airlines, hotels, or travel agencies. Depending on the frequency with which you travel, you might prefer to continue using these cards to maximize your points and earn free flights, vacations, or hotel stays. However, cash-back travel cards do present another option for you.

This type of card may be a better choice for you if you want to use the rewards to travel without blackout periods or on your own timeline, without worrying about using points before they expire. There is no need to spend your hard-earned points on stuff you do not want or need. Rather, you will receive cash-back to use as you please!

How to make the most of your CashBack Credit Card?

Many consumers have become frustrated with the point reward system for a variety of reasons. Perhaps they are forced to spend points of magazines they do not like. Or maybe their points expired before they could use them. Maybe they just felt they were not being rewarded enough for the amount they spent. These are the many reasons why cash-backs cards have increased in popularity. Many consumers like knowing that they will be rewarded with cash, which they can use however they please.

Some of the cards come with added benefits, like travel insurance. It is important to note that some of these cards have annual fees. These fees tend to range from about $65 – $99 per year. Make sure you are able to earn enough rewards to offset the annual fee. Additionally, make sure you are aware of the interest rate, which can be easily compared using the website.

Conclusion

Having a good cash-back credit card for any travel plans can help you save a significant amount of money. In addition, many of these cards can also be used for daily expenses, which will help you save more quickly for your next vacation, big-ticket item, or whatever you want to reward yourself with!

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