How do I choose the best credit card to pay for my trip?

We are often faced with a dilemma: what is the best credit card to use to pay for our trip (airfare, accommodation, etc.)?

How do we choose the right credit card to optimize our purchase in all aspects?

• benefits (travel insurance)
• possibility to use points
• accumulation of points in the right category
• bonus

Here are some questions to ask yourself to determine the best credit card to pay for your trip!

This component mainly concerns cancellation, interruption, flight delay insurance needs, since coverage for emergency medical care is automatically included, regardless of how you pay, with many credit cards (under certain conditions).

As a general rule, the best credit card will be :

• an AIR MILES creditcard to cover travel for which you have used AIRMILES miles
• an AEROPLAN creditcard to cover a trip for which you have used AEROPLANpoints
• Membership Rewards creditcard to cover a trip for which you used American Express Membership Rewards points
• and so on for each program (CIBC Aventura, TD Rewards, BMO Rewards, etc.)

However, some credit cards stand out by offering protection even if the trip is partially paid for by the credit card; see the next point.

Some cards require that the trip be paid in full on the credit card . So, you can’t go wrong if you charge the entire trip expenses to your credit card and the ones mentioned above.

However, travel insurance is not the same from one credit card to another! When comparing coverage amounts, they differ greatly from card to card.

Do you have points in the bank and want to use them to pay for this trip? You will need to use the credit card linked to the rewards program in question.

For example, by paying for your airline ticket with the National Bank World Elite Mastercard, you will be covered in case of a problem and be able to use your NBC Rewards points within 60 days of purchase.

As a result of your airfare purchase, you will be able to collect points. Turn to the card that gives the type of points you are looking for! To do this, you need to determine your goals and your point earning strategy.

However, you have to ask yourself which aspect you favor when the card that gives you the best insurance does not match the card that gives you the type of points you want.

Similarly, the return (discount) may be greater with another card , but one must consider travel insurance in the equation and not just the “best return.

Finally, if you don’t need travel insurance and your priority is to unlock a bonus, you can check out the best current offers!

When it comes to accommodation, travel insurance may be a little less important. In fact, a large majority of establishments allow the cancellation of the reservation without charge during a specific period (often up to 24 hours before the stay).

On the car rental side, the BMO Ascend World Elite Mastercard offers some of the best rental car insurance coverage available.

For activities, tours, excursions, etc., most of these purchases are non-refundable, so it is imperative to put these expenses on a card with good travel insurance such as the National Bank’s World Elite Mastercard^®.

Just like airline tickets, you must use the card with the reward program you wish to use to reduce the bill.

Some credit cards, such as the HSBC World Elite^® Mastercard^®, give more points for travel purchases, do not charge a foreign currency fee in addition to being able to use those same points as a statement credit.

If you are staying at a Marriott Bonvoy or Best Western hotel, paying with a credit card linked to these programs is more advantageous to earn more points.

However, do you want to earn 5X Marriott Bonvoy points, or would you save on foreign currency fees instead? The answer is yours.

Same as the answer given above for airfare.

There is no single answer to choosing a credit card to pay for a trip and get the “best return”. Indeed, there are several factors to consider in order to make the “best choice” in your situation.