Disclosure: this post contains no affiliate links today. When that changes, this line will say so — and the rankings won’t.
Rates and fees verified November 8, 2026.
Travel points are worth roughly 1 cent each in these comparisons, so a card earning 5 points per dollar is, in rough terms, earning about 5% back — if you actually redeem the points at that value. That “if” is doing a lot of work, and it is where most travel-card comparisons go wrong.
The value of a travel card comes from a simple sum: earn rate multiplied by your spending in its best categories, minus the annual fee and any foreign-transaction fees. A high earner in categories you rarely use is worth less than a modest earner in the categories where your money actually goes.
See all eight cards side by side: Compare Credit Cards.
Best earner: American Express Cobalt
Annual fee: $191.88/yr ($15.99/mo). Earn: 5 pts/$1 on eats & drinks, including groceries and delivery (first $2,500/mo of category spend, then 1 pt), 3 pts/$1 on streaming, 2 pts/$1 on gas and transit, and 1 pt/$1 on everything else. Points transfer to airline programs. Foreign-transaction fee: 2.5%. Extended warranty: +1 year.
For food-heavy spenders who will actually use the points: the 5-point rate on eating and groceries is the strongest earn rate in this list, but it only pays off if the points get redeemed rather than left to pile up.
See this card at American Express
Best no-FX travel card: Scotiabank Passport Visa Infinite
Annual fee: $150/yr. Foreign-transaction fee: 0%. Earn: 3 pts/$1 at Sobeys-banner grocery stores, 2 pts/$1 on other groceries, dining, entertainment and transit, and 1 pt/$1 on everything else (bonus rates on the first $50,000/yr). Airport lounge access: 6 visits/yr. Extended warranty: +1 year. Income requirement: $60,000 personal / $100,000 household.
For people who travel and shop abroad: no foreign-transaction fee, lounge visits and solid grocery and dining earn make it the card to reach for once you leave Canada.
Best premium all-rounder: National Bank World Elite Mastercard
Annual fee: $150/yr. Earn: 5 pts/$1 on groceries & restaurants while your groceries-and-restaurants spend on this card is $2,500 a month or less (2 pts above), 2 pts/$1 on gas, recurring bills and À la carte Travel, and 1 pt/$1 on everything else. Points are worth 1 cent on travel. Extended warranty: triples the manufacturer’s warranty, up to +2 years — the best in this list. Travel-fee refund: $150/yr. Foreign-transaction fee: 2.5%. Income requirement: $80,000 personal / $150,000 household.
For travellers who also buy expensive gear: the tripled warranty is genuinely unusual, and the $150 annual travel-fee refund can cover the annual fee on its own if you use it.
See this card at National Bank
Best for Expedia bookers: TD First Class Travel Visa Infinite
Annual fee: $139/yr. Earn: points worth 0.5 cents each on Expedia for TD — about 4% back on Expedia for TD travel, about 3% on groceries, dining and transit, about 2% on recurring bills and streaming, and about 1% on everything else (category caps $25,000/yr each). Foreign-transaction fee: 2.5%.
For people who already book everything through Expedia: if Expedia for TD is where your travel is booked anyway, this card turns that habit into its best return.
How to choose
- An earn rate means nothing if you won’t redeem the points.
- A 0% FX card quietly beats a higher earner on foreign spend, because the 2.5% foreign-transaction fee comes straight off the return.
- Fees are only worth it if the math in our Credit Card Rewards Optimizer says so.
General information only — not financial advice.