Credit Cards In Canada With Annual Credits

When choosing a credit card in Canada, we mainly look at welcome offers and earning rates. Possibly the insurance offered, but rarely the annual credits.

However, in some cases, these annual credits can be a good return on investment compared to the annual credit card fee!

Here is a summary table of the annual credits offered by some credit cards in Canada:

As an American Express^® Gold Rewards Cardmember, you earn an annual $100 travel credit each year. This credit is available shortly after you application for the card. And you get a new $100 credit when you renew your annual membership.

This $100 credit virtually reduces the annual fee from $250 to $150.

To use this $100 annual credit, you must make a travel booking with American Express Travel (flight, hotel, car rental or vacation package). Once the entire expense has been charged to the card account, the annual credit will also be applied to your account.

Please note that if your plans change, such as cancelling a 100% refundable hotel reservation, the $100 annual credit will not be clawed back.

With the American Express Platinum Card^®, you’ll receive a $200 annual travel credit. This credit is available shortly after you application for the card. And you get a new $200 credit when you renew your annual membership.

This $200 credit virtually lowers the annual fee from $699 to $499.

To use this $200 annual credit, you must make a travel reservation (airfare, hotel, car rental or vacation package) with American Express Travel. Once the entire expense has been charged to the card account, the annual credit will also be applied to your account.

Please note that if your plans change, such as cancelling a 100% refundable hotel reservation, the $200 annual credit will not be clawed back.

As a Business Platinum Cardmember^® from American Express, you get a $200 annual travel credit. This credit is available shortly after you application for the card. And you get a new $200 credit when you renew your annual membership.

This $200 credit virtually reduces the annual fee from $499 to $299(if you get the card before September 26, 2023). After September 26, 2023, this $200 credit will virtually reduce the annual fee from $799 to $599.

To use this $200 annual credit, you must make a travel reservation (airfare, hotel, car rental or vacation package) with American Express Travel. Once the entire expense has been charged to the card account, the annual credit will also be applied to your account.

Please note that if your plans change, such as cancelling a 100% refundable hotel reservation, the $200 annual credit will not be clawed back.

As a National Bank’s World Elite Mastercard^® credit cardholder, you earn a $150 annual credit each calendar year. This credit becomes available shortly after you sign up. And you get a new credit of up to $150 on January 1.

Knowing that the annual fee for this card is $150, this annual credit makes up for it all!

To use this $150 annual credit, certain types of travel purchases must be charged to the Card:

• Airport parking
• Baggage fees
• Seat selection
• Access to airport lounges
• Flight upgrades

Note that this also works for fees charged by Aeroplan.

As a BMO eclipse Visa Infinite Privilege* cardholder, you earn an annual credit of $200. This credit is available shortly after you application for the card . And you get a new $200 credit when you renew your annual membership.

Each calendar year, you’ll receive an annual credit of $200, which you can use as you wish!

This $200 credit virtually lowers the annual fee from $499 to $299.

To use this $200 annual credit, simply charge any purchase of $200 or more to your card account. This credit will then appear on your statement.

As a BMO eclipse Visa Infinite* Cardholder, you’ll receive a $50 annual lifestyle credit. This credit is available shortly after you sign up for the Card. And you get a new $50 credit when you renew your annual membership.

Each calendar year, you’ll receive an annual credit of $50, which you can use as you wish!

This $50 credit virtually reduces the annual fee from $120 to $70.

To use this $50 annual credit, simply charge any purchase of $50 or more to your card account. This credit will then appear on your statement.

As a CIBC Aventura^MD Visa Infinite Privilege* cardholder, you receive an annual credit of $200 each year. This credit is available shortly after you application for the card. And you get a new $200 credit when you renew your annual membership.

This $200 credit virtually lowers the annual fee from $499 to $299.

To use this credit, you will need to book with CIBC’s travel agency and the credit will be applied to your account only after the trip has been completed.

As an HSBC World Elite^® Mastercard^® credit cardholder, you receive a $100 annual travel credit. This credit is available shortly after you sign up for the Card. And you get a new $100 credit when you renew your annual membership.

This $100 credit virtually lowers the annual fee from $149 to $49.

To use this credit, you can make any travel purchase with your Card, i.e. purchases giving 6X points. You will then need to log into your HSBC online account to apply the $100 credit to your purchase. Note that you can apply this credit to many small transactions under $100.

As a TD First Class Travel^® Visa Infinite* Cardholder, you earn a $100 annual credit. This credit is available shortly after you sign up for the Card. And you get a new $100 credit when you renew your annual membership.

You will receive one $100 TD Travel Credit on your first Eligible Travel Credit Purchase posted to the Account in a calendar year.

An Eligible Travel Credit Purchase includes:

• A Hotel, Motel, Lodging, or Vacation Rental Purchase of $500.00 CAD or more made with Expedia For TD; or
• A Vacation Package Purchase of $500.00 CAD or more made with Expedia For TD, that includes a Hotel, Motel, Lodging or Vacation Rental booking packaged with a transportation booking.

Please read our guide to Expedia for TD to learn how to use this site.

This $100 credit virtually reduces the annual fee from $139 to $39.