When choosing a credit card in Canada, we mainly look at welcome offers, accumulation rates and insurance, but rarely do we consider the annual credits.
However, in some cases, these annual credits can be a good return on investment compared to the annual credit card fee!
These annual credits appear on your account after you have met the eligibility requirements. For example, a qualifying purchase with a National Bank World Elite Mastercard gives a $150 credit, which is reimbursed to your account. This $327.85 travel expense becomes $177.85 after the credit is applied.
Here’s another example with the TD First Class Travel® Visa Infinite* Card which gives a $100 credit when you book a stay of $500 or more. In this case, the cost of $1,081.92 is reduced to $981.92, thanks to the annual credit (and even more to $178.92 net, since I had used $803 worth of points!).
Here is a summary table of the annual credits offered by some credit cards in Canada:
As a American Express® Gold Rewards Card, you’ll receive an annual $100 travel credit. 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 reservation (flight, hotel, car rental or vacation package) with American Express Travel. Once the entire expense has been charged to the Card, the annual credit will be automatically applied to your account.
As an American Express Platinum Card® holder, you’ll receive an annual travel 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.
The same applies to the $200 Annual Dining Credit at an eligible restaurant and the $100 Nexus credit (every 4 years).
These credits of at least $400 reduce the annual fee from $699 to $299 net.
To use the $200 annual travel credit, you must make a travel reservation (airfare, hotel, car rental or vacation package) with American Express Travel and check the appropriate box. Once the entire expense has been charged to the Card, the annual travel credit will be automatically applied to your account.
As a Business Platinum Card® from American Express holder, you’ll receive an annual travel 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.
The same will happen with your annual credits of $120 for a mobile provider, $200 to use at Dell, $300 for Indeed and $100 for Nexus.
All these credits of up to $820 will virtually reduce the annual fee from $799 to virtually zero.
To use the $200 annual credit, you must make a travel reservation (airfare, hotel, car rental or vacation package) with American Express Travel and check the appropriate box. Once the entire expense has been charged to the Card, the annual credit will be automatically applied to your account.
The American Express® Aeroplan®* Reserve Card gives you a $100 annual credit toward your Nexus membership or renewal fee.
This credit is available every 48 months, each time you are eligible to renew your Nexus card.
Simply charge your Nexus membership or renewal to your credit card. You’ll see the credit display itself after 3-4 days.
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 reduces the annual fee from $499 to $299 net.
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* CardCard, you receive an annual credit of $50. This credit is available shortly after you sign up for the Card. And you get a new $50 credit when you renew your annual fee.
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.
Each year, cardholders benefit from a travel credit of $250 per membership year, to be used on Scene+ Travel, by Expedia.
This credit can help you buy :
As a National Bank World Elite Mastercard holder, you receive an annual credit of up to $150 each calendar year . This credit becomes available shortly after you sign up for the Card. And you get a new credit of up to $150 on January 1.
Given that the annual fee for this card is $150, this annual credit offsets it all!
To use this $150 annual credit, certain types of travel purchases must be charged to the Card:
To take advantage of this offer, you must submit a refund request on the National Bank website.
As a CIBC Aventura® 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.
To use this credit, you will need to book with the CIBC travel agency, and the credit will be applied to your account after your trip has been completed.
The CIBC Aventura® Gold Visa* Card and the CIBC Aventura® Visa Infinite* Card each offer you a $100 annual credit towards your Nexus membership or renewal fee.
Simply charge your Nexus membership or renewal to your credit card. You’ll see the credit automatically after 3-4 days.
As a TD First Class Travel® Visa Infinite* Card holder, you receive an annual credit of $100. This credit becomes available shortly after you sign up for the Card. And you receive a new $100 credit on January 1 of each year.
You’ll receive a $100 TD Travel Credit on the first eligible travel purchase charged to your account in a given calendar year.
A purchase eligible for the travel credit includes:
See our guide to Expedia for TD to find out how to use it.
This $100 credit reduces the annual fee from $139 to $39.
The TD® Aeroplan® Visa Infinite* Card gives you a $100 annual credit towards your Nexus membership or renewal fee.
Savings are here (if you don’t see the sign-up form, please click here):
