How to choose the best credit card to buy my trip?

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

How do you choose a credit card to optimize your purchase on all levels?

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

To go further, consult our ranking of the best travel credit cards in Canada. You will also find our complete selection of the best credit cards, across all categories.

Best Travel Multipliers

Here is a brief table summarizing the different credit card reward multipliers available for expenses categorized as “travel.”

As you can see, you shouldn’t just rely on the multiplier since point values differ from one program to another. Furthermore, the credit card providing the best return for travel will also depend on the currency in which you make your purchase. Finally, some credit cards offer a higher return on more specific travel expenses, such as on certain sites or platforms.

So, here are some points to consider when determining which is the best credit card to use to get the highest return on your travel purchase, depending on its type.

Flights

Do you need travel insurance?

This section mainly concerns needs for cancellation, interruption, flight delay, lost luggage insurance, etc., since coverage for emergency medical care is automatically included with many credit cards, regardless of the payment method (subject to certain conditions).

Airline ticket paid with reward points

Generally speaking, the best credit card will be:

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

Airline ticket partially paid with the credit card

These cards stand out from all others because you will be covered when a portion of the trip has been charged to the credit card! So if you pay the taxes on an Aeroplan reward ticket or if you use a travel credit, you will be protected in case of a problem.

In this situation, the best credit card will be one of the following:

However, baggage delay insurance requires that the full cost of the airline ticket be purchased with NBC cards. The same applies to rental car insurance.

Airline ticket paid in full with the credit card

Some cards require the trip to be paid in full on the credit card. Therefore, you cannot go wrong if you charge all travel expenses to your credit card and those mentioned above.

However, travel insurance is not equivalent from one credit card to another! When comparing coverage amounts, they differ significantly between cards.

Do you intend to use reward points on an airline ticket?

Do you have points in the bank and want to use them to offset the cost of this trip? You must therefore use the credit card linked to the reward points 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 reward points within 60 days after the purchase.

Do you need to earn a particular type of point?

Following your airline ticket purchase, you will be able to earn points. Turn to the card that provides the type of points you are looking for! To do this, you must determine your goals and your points earning strategy.

However, you must ask yourself which aspect to prioritize when the card that provides the best insurance does not match the card that provides the type of points you want.

Similarly, the return (cash back) may be higher with another card, but travel insurance must be considered in the equation and not just the “best return” as illustrated in the table at the beginning of the article.

Do you need to unlock a bonus?

Finally, if you do not need travel insurance and your priority is to unlock a bonus, you can consult the best current offers!

Accommodation, Car, and Activities

Do you need travel insurance?

Regarding accommodation, travel insurance may be slightly less important. Indeed, a large majority of establishments allow reservation cancellation without fees for a specific period (often up to 24 hours before the stay).

For car rentals, the BMO Ascend World Elite Mastercard offers some of the best rental car insurance coverage.

For activities, organized tours, excursions, etc., most of these purchases are non-refundable, so it is imperative to put these expenses on cards with good travel insurance like the National Bank World Elite Mastercard.

Do you intend to use reward points on this same trip?

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

Do you need to earn a particular type of point?

Some credit cards, such as the Scotiabank Passport Visa Infinite + Card, provide points for travel purchases, do not charge foreign currency fees, and allow you to use those same points as a statement credit.

If you are staying at a Marriott Bonvoy chain hotel, it is more advantageous to pay with credit cards linked to this program to earn more points.

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

Do you need to unlock a bonus?

Same as the answer given above for airline tickets.

Conclusion

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