Travel Tips

A closer look at the best no fee travel credit cards in Canada

Piyush Singh

11.06.24

Read time 4 minutes

If you're a frequent traveller in Canada, having a good travel credit card can make all the difference. It can help you save money on foreign transaction fees, earn valuable rewards and benefits, and provide peace of mind with built-in travel insurance.

At Wise, we understand how overwhelming this choice can be and have researched extensively to provide a comprehensive guide to Canada's best no-fee travel credit cards. Our goal is to help Canadian residents like yourself make informed decisions on managing their finances while travelling.

Key features of the Tangerine Money-Back Credit card

Tangerine Money-Back Credit Card
Currency Conversion Charges: 2.50%¹
Minimum Income: $12,000
Availability to Expats/Non-Citizens in Canada: No, permanent Canadian residents only²
Introductory Offer: 1.95% interest for the first 6 months; extra 10% back on up to $1,000 in everyday purchases from the first 2 months¹
Interest Rate: 19.95%¹
Rewards Rate: Unlimited 2% Money-Back Rewards in up to 3 categories; unlimited 0.5% Money-Back Rewards in other categories¹

You can make the most of this card by:

Choosing your 2% cash-back categories wisely
Using it for foreign transactions
Taking advantage of promotional offers in the first months

Key features of the Scotiabank American Express card

Scotiabank American Express Card
Currency Conversion Charges: 2.99%³
Minimum Income: $12,000
Availability to Expats/Non-Citizens in Canada: No, permanent Canadian residents only
Introductory Offer: Up to 75,000 bonus Scene+ points in your first 3 months (up to $75 toward travel)⁵
Interest Rate:19.99% on purchases; 22.99% on cash advances⁵
Rewards Rate: Earn 1-3 Scene+ points on purchases, depending on the category⁵

You can make the most of this card by:

Using it for everyday purchases to earn reward points
Making minimum payments on time
Redeeming rewards points towards travel

Key features of the CIBC Aventura Visa card

CIBC Aventura Visa Card
Currency Conversion Charges: 2.5%⁶
Minimum Income: $15,000⁷
Availability to Expats/Non-Citizens in Canada: Only available to Canadian residents who have reached the age of majority⁸
Introductory Offer: Earn up to 2,500 Aventura points in your first 60 days by completing prompts⁷
Interest Rate:20.99% on purchases; 22.99% on cash advances for non-Quebec residents; 21.99% on cash advances for Quebec residents⁷
Rewards Rate: Earn points on purchases like “buying groceries, pumping gas or booking a trip⁷

You can make the most of this card if you're:

Using it for everyday purchases to earn reward points
A resident of Quebec
Completing welcome activities to earn bonus points

Key features of the Simplii Financial Cashback Visa card

Simplii Financial Cashback Visa Card
Currency Conversion Charges: 2.5%⁹
Minimum Income: $15,000¹⁰
Availability to Expats/Non-Citizens in Canada: Only Canadian residents (excluding Quebec) who have reached the age of majority are eligible¹⁰
Introductory Offer: Earn up to 20% cash back on eligible purchases and preauthorized payments for your first 3 months (up to $500 spent); ability to enter for a chance to win a trip to the Paris 2024 Olympic Games¹⁰
Interest Rate: 20.99% on purchases; 22.99% on cash advances¹⁰
Rewards Rate: 0.5-4% cash back, depending on purchase category¹⁰

You can make the most of this card by:

Using it for food and beverage purchases
Maximizing spending in your first 3 months
Avoiding cash advances and balance transfers to avoid high interest rates

The Wise Card - for people living in Canada and beyond borders 🌏

We would also like to introduce you to the Wise Card, a no-fee travel card that offers great value and convenience for Canadian travellers. Here are some of the exciting features we have to offer compared to our competitors:

The Wise Card offers you the mid-market exchange rate, the real exchange rate used by banks and financial institutions for currency conversions. This means you won't have to pay hefty fees for converting your money into local currency when travelling abroad. With our card, you can even hold money in multiple currencies and spend online and in person like a local.

We believe in making financial services accessible to everyone, regardless of their citizenship or residency status. That's why the Wise Card is available to anyone who can legally open an account in Canada.

The Wise Card allows you to travel and spend without borders. You can use your card in most places where debit cards are accepted, making it the perfect companion for your travels.

We understand that hidden fees can be a major concern for travellers. That's why we offer a simple pay-as-you-go pricing structure with no monthly or annual fees. You only pay for what you use, making it a cost-effective option for frequent travellers.

The Wise Card also comes with both a physical and virtual card, giving you the flexibility to choose how you want to pay. You can use your physical card for in-person purchases, while the virtual card is perfect for online transactions.

Please see the Terms and Conditions for your region and visit our pricing page for the most up-to-date pricing and fee information on Wise products.

How To Get The Wise Card 💳

a. Open A Wise Account

If you don’t already have one, you’ll need to open a Wise account to create a balance for your card. The process is simple with standard questions.

Note: reviewing your application can take a few days due to verification.

b. Order A Card

When you enter the Wise app or website, click on the “Card” tab. You’ll be shown an option to order your card.

Once you’ve provided all your information, we will verify your account and send a card over as soon as everything looks good. You can have your card sent via speedy or standard delivery. If you choose standard, it will be sent via local post, with no tracking number. If you’re in Canada when you order, you can also check your card details ahead of time.

c. Activate Your Card

In Canada, you can activate your card with a Chip or PIN payment. You can learn more about Wise card activation here

Already abroad? Get the Wise virtual card in a few clicks with these steps.

Click here to start your journey with Wise

To Sum It Up

When it comes to choosing the best no-fee travel credit card in Canada, it ultimately depends on your specific needs and preferences. However, the Wise Card offers unique features and benefits that make it stand out from its competitors.

We hope this article has helped you make an informed decision about your travel credit card. If you want to learn more about the Wise Card and how it can benefit you, visit our website, or learn more about your options with this article! Happy travels!

Sources:

Tangerine
Tangerine
Amex UK
creditcardGenius
Scotiabank Canada
CIBC
CIBC
CIBC
Simplii Financial
Simplii Financial
Sources verified on 11 June 2024

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.