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Credit cards In Canada Offering Annual Credits

To the point

Many credit cards in Canada offer credits that renew year after year, and that you can redeem for travel and other expenses. Here they are.

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!

Summary table of annual credit cards credits in Canada

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

Issuer Card Annual credit Details
American Express American Express Platinum Card® $200 Travel
BMO BMO eclipse Visa Infinite Privilege* Card $200 Any purchase
BMO BMO eclipse Visa Infinite* Card $50 Any purchase
NBC NBC World Elite Mastercard $250 Travel
CIBC CIBC AventuraMD Visa Infinite Privilege*card $200 Travel
HSBC HSBC World Elite® Mastercard® $100 Travel

American Express Platinum Card®

As as American Express Platinum Card® holder, you get an annual $200 travel credit 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 $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 applied to your account.

BMO eclipse Visa Infinite Privilege* Card

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.

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.

BMO eclipse Visa Infinite* Card

As a BMO eclipse Visa Infinite* cardholder, you earn a $50 annual credit each year. This credit is available shortly after you application for the card . And you get a new $50 credit when you renew your annual membership.

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.

NBC World Elite Mastercard

As a National Bank World Elite Mastercard cardholder, you receive an annual credit of up to $250 each calendar year. This credit is available shortly after you application for the card. And you get a new credit of up to $250 on January 1.

Knowing that the annual fee for this card is $150, this annual credit will compensate in full and even allow you to “make money” simply by being a cardholder!

To use this $250 annual credit, certain types of travel purchases must be charged to the card:

  • $100 for parking (Indigo, Park’N Fly, Skypark, etc.)
  • $100 for luggage (any airline)
  • $50 for seat selection (any airline)

Note that this also works for fees charged by Aeroplan.

CIBC AventuraMD Visa Infinite Privilege* card

As a CIBC AventuraMD 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.

HSBC World Elite® Mastercard®

As a holder of the HSBC World EliteMD MastercardMD, you earn a $100 annual credit each year. This credit is available shortly after you application 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 . 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.

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