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Best Travel Credit Cards Canada 2026 | FX Fees Compared

Updated

The best travel credit card in Canada depends on one question: do you travel internationally? If yes, a card with no foreign transaction fee saves you the typical 2.5% fee on purchases in a foreign currency: that’s $125 on $5,000 in foreign spending, before even counting rewards. The Scotiabank Passport Visa Infinite is the best all-around choice with 0% FX fees, lounge access, and up to $2M in emergency medical coverage. If you mostly travel within Canada and fly Air Canada, the TD Aeroplan Visa Infinite earns Aeroplan points faster. And for everyday spending that funds future travel, the Amex Cobalt at 5x on eligible food and drink purchases (up to a monthly cap) is hard to beat. It’s the starting point for travel cards among our credit card reviews and roundups.

Best Travel Credit Cards

CardAnnual FeeFX FeesBest Feature
American Express Cobalt Card$191.88/year ($15.99/mo)2.5%5x dining/groceries (up to $2,500 a month, then 1x)
Scotiabank Passport Visa Infinite+ Card$150/year0%No FX + lounge
Scotiabank Gold American Express Card$120/year0%6x groceries, no lounge
Brim World Elite Mastercard$89/year1.5% (reduced, not 0%)Lower-than-standard FX
TD Aeroplan Visa Infinite Card$139/year2.5%Aeroplan priority
American Express Gold Rewards Card$250/year2.5%Premium travel perks

Top Picks by Category

The no-FX-fee category is where the real savings happen for international travellers. Most Canadian credit cards charge about 2.5% on foreign currency transactions, which adds up quickly on trips, international subscriptions, or cross-border online shopping. The Scotiabank Passport and Scotiabank Gold American Express both charge a genuine 0%, effectively giving you a 2.5% “discount” on every foreign purchase compared to most cards. If you spend $3,000–$5,000 abroad per year, the FX savings alone justify the annual fee.

Best No Foreign Transaction Fees

Scotiabank Passport Visa Infinite

FeatureDetails
Annual fee$150
FX fees$0
Earning rate3x Scene+ at Sobeys/Safeway/IGA/Foodland/Co-op groceries, 2x other grocery/dining/entertainment/daily transit, 1x other, up to 4x via Scene+ Travel
Welcome bonusVaries: confirm current offer at scotiabank.com
Lounge access6 DragonPass visits/year
Travel insurance$2M emergency medical

Best for: Frequent international travelers.

Scotiabank Gold American Express

FeatureDetails
Annual fee$120
FX fees$0
Earning rate6x Scene+ at Sobeys/Safeway/Freshco/Foodland, 5x dining/other groceries, 5x entertainment, 3x gas/transit, 1x other
Welcome bonusVaries: confirm current offer at scotiabank.com
Lounge accessNone (discount on Priority Pass membership only)
Travel insurance$1M emergency medical (25 days under age 65, 3 days at 65 or older)

Best for: Everyday grocery/dining spenders who want no FX fees without the higher Visa Infinite fee.

Brim World Elite Mastercard

FeatureDetails
Annual fee$89
FX fees1.5% (reduced from the standard 2.5%, NOT a true 0%)
Earning rateFlat 1% cash back on all purchases
Welcome bonusVaries
Unique featureLower-than-standard FX fee
Travel insuranceBasic (trip cancellation $2,000, trip interruption $5,000)

Best for: Occasional international spenders who want a lower (not zero) FX fee at a modest annual cost.

Best Points Earning

American Express Cobalt

FeatureDetails
Annual fee$191.88 ($15.99/month)
FX fees2.5%
Earning rate5x groceries/dining (up to $2,500 a month combined, then 1x), 3x streaming, 2x transit/gas, 1x other
Points value1¢ each toward purchases (1,000 points = $10); transfer value varies
Transfer partnersAeroplan, Marriott Bonvoy, British Airways, and several others
Travel insuranceBasic

Best for: Maximizing points on food and dining.

TD Aeroplan Visa Infinite

FeatureDetails
Annual fee$139
FX fees2.5%
Earning rate1.5x Aeroplan on gas, EV charging, groceries and direct Air Canada purchases, 1x other
Welcome offerTiered Aeroplan points offer; check the current offer at td.com
Lounge accessNone (Maple Leaf Lounge access is reserved for the higher-tier TD Aeroplan Visa Infinite Privilege, not this base card)
Travel insurance$2M emergency medical

Best for: Air Canada loyalists.

Best Overall Travel Rewards

American Express Gold Rewards

FeatureDetails
Annual fee$250
FX fees2.5%
Earning rate2x travel, gas/groceries/drugstore (NOT dining – Amex Gold has no dining bonus category)
Welcome offerMembership Rewards points offer; check the current offer at americanexpress.com/en-ca
Lounge accessPlaza Premium (4/year)
Travel insurancePremium coverage

Best for: Premium benefits and flexibility.

Foreign Transaction Fee Comparison

Cards WITH FX Fees (2.5%)

CardEarningFX Cost on $5,000
Amex Cobalt5x dining (up to $2,500 a month, then 1x)$125
TD Aeroplan VI1.5x$125
RBC Avion VI1x$125
Amex Gold2x travel/gas/groceries$125

Cards WITHOUT FX Fees (true 0%)

CardEarningFX Cost on $5,000
Scotiabank PassportUp to 3x at select grocers, 2x dining/entertainment/transit$0
Scotiabank Gold Amex6x at select grocers/5x dining$0
Home Trust Preferred Visa1% cash back (0% on foreign spend itself)$0

Cards with a REDUCED (not zero) FX Fee

CardFX FeeFX Cost on $5,000
Brim World Elite Mastercard1.5%$75

$5,000 annual foreign spending saves $125 with true no-FX cards, or $50 with the reduced-fee Brim card.

Airport lounge access

Lounge access comes with the mid-fee and premium travel cards: the Scotiabank Passport Visa Infinite includes a set number of DragonPass visits a year, the Scotiabank Passport Visa Infinite Privilege more, and the Amex Platinum the widest network. The premium credit card roundup compares the lounge networks and visit limits card by card.

Travel insurance

Many mid-fee and premium travel cards, which also own the airport lounge access comparison, include travel medical and trip cancellation cover, but the days covered and age limits differ by certificate. The credit cards with travel insurance roundup compares them card by card.

Aeroplan vs Scene+ vs Other Points

Aeroplan Cards

The Aeroplan card comparison covers TD, CIBC and Amex Aeroplan cards in full.

CardPoints/$Best For
TD Aeroplan VI1.5x Aeroplan on gas, EV charging, groceries and direct Air Canada; 1x otherAir Canada flights
CIBC Aeroplan VI1.5x Aeroplan on gas, EV charging, groceries and direct Air Canada; 1x otherCIBC customers
Amex Aeroplan2x direct Air Canada, 1.5x diningAmex perks + Aeroplan

Scene+ Cards

CardPoints/$Best For
Scotiabank PassportUp to 4x Scene+ (via Scene+ Travel), 2x dining/transitFlexible travel
Scotiabank Gold Amex5x diningRestaurant spend

Flexible Points

CardPoints/$Transfer To
Amex Cobalt5x food (up to $2,500 a month, then 1x)Aeroplan, Marriott, BA, and several others
Amex Gold2xSame partners
RBC Avion1x (1.25x on travel)Various partners

Annual Fee Value Analysis

Scotiabank Passport ($150/year)

BenefitValue
6 lounge visits$300
No FX on $3,000$75
Travel insurancePriceless
Total per year$375+ (before any welcome offer)

Amex Cobalt ($191.88/year)

BenefitValue
5x on $5,000 food25,000 pts ($250, at Amex’s 1,000 points = $10 toward purchases)
Transfer flexibilityVariable
Total per year$250+ (before any welcome offer)

Strategy for Maximum Value

The optimal setup for most Canadian travellers is two cards: a no-FX-fee card for all foreign and international purchases (Scotiabank Passport) plus a high-earning domestic card for food and everyday spending (Amex Cobalt). This combination gives you 5x on food, 0% FX fees abroad, lounge access, and travel insurance. The total annual fee is around $341.88 ($150 + $191.88).

Carry Two Cards

PurposeCardWhy
Foreign purchasesScotiabank PassportNo FX fees
Domestic diningAmex Cobalt5x points (up to $2,500 a month)
Backup Visa/MCAnyAmex not accepted everywhere

Optimize by Spend Type

Purchase TypeBest Card
InternationalNo-FX card
Flights (domestic)Aeroplan card
DiningAmex Cobalt
HotelsHotel co-brand or flexible points
Everything elseBest base rate

The Bottom Line

For international travel, a no-FX-fee card is often worth prioritizing: the Scotiabank Passport at $150 offers strong value. For domestic travel and Aeroplan earning, the TD Aeroplan Visa Infinite at $139 is a top pick. Pairing either with the Amex Cobalt for everyday spending can help maximize both travel perks and rewards. If you travel fewer than once a year, travel-specific cards may not be worth it: a no-fee cashback card can be a simpler fit.

Sources

The figures and rules on this page come from these sources, last checked against them between September 5, 2026 and October 3, 2026. How we check facts.