From no foreign transaction fee cards to premium lounge access, here are the best travel credit cards for Canadians in 2026 — ranked by real value for travellers heading to the US, Mexico, Europe, and beyond.
Most Canadian credit cards charge a 2.5% foreign transaction fee on every US dollar or international purchase. On a $5,000 vacation, that's $125 in invisible fees. The right travel card eliminates these fees entirely, earns points on every purchase, and comes with travel insurance that can save thousands.
In 2026, the landscape has shifted. Several cards now offer no foreign transaction fees, but they differ dramatically in annual fees, earn rates, and insurance coverage. This guide ranks every major option so you can choose the best fit.
The Scotiabank Passport Visa Infinite remains Canada's best all-around travel card. It offers no foreign transaction fees, 3x Scotia Rewards points on grocery and dining, 2x on transit, and 6 complimentary airport lounge passes per year through Visa Airport Companion. The welcome bonus is worth up to $700.
The Amex Cobalt earns 5x Membership Rewards points on food and drinks — the highest earn rate in Canada. Points transfer to Aeroplan and Marriott Bonvoy. Best for frequent diners and coffee shop devotees. Note: Amex isn't accepted everywhere, and foreign transaction fees apply (2.5%).
The Rogers World Elite Mastercard charges no foreign transaction fees and earns 3% cash back on US dollar purchases and 1.5% on all other purchases. For Rogers, Fido, or Shaw subscribers, this card is exceptional value. No annual fee makes it risk-free to carry.
TD First Class earns 8x TD Points on Expedia for TD purchases and 2x everywhere else. Points redeem at excellent value through Expedia for TD. The welcome bonus frequently reaches 100,000 TD Points. However, a 2.5% foreign transaction fee applies — not ideal for international spending.
RBC Avion earns 1 Avion point per dollar on everything, with elevated rates on travel. Points transfer to WestJet, British Airways, Cathay Pacific, and other programs at strong rates. Comprehensive travel insurance included. Foreign transaction fee: 2.5%.
| Card | Annual Fee | No FX Fee | Welcome Bonus | Travel Insurance |
|---|---|---|---|---|
| Scotiabank Passport Visa Infinite | $150 | Yes | 40,000 pts (~$400) | Comprehensive |
| Amex Cobalt | $155.88 | No | 30,000 pts (~$300) | Emergency medical |
| Rogers World Elite | $0 | Yes | None | Emergency medical |
| TD First Class Travel | $139 | No | 100,000 pts (~$500) | Comprehensive |
| RBC Avion Visa Infinite | $120 | No | 35,000 pts (~$250) | Comprehensive |
| KOHO Extra (prepaid) | $9/mo | Yes | — | None |
KOHO's premium plans include no foreign transaction fees — save 2.5% on every US and international purchase. Perfect for snowbirds and frequent travellers.
Get KOHO Free — Code 45ET55JSYAForeign Transaction Fees: The single most important feature for international travellers. Most Canadian cards charge 2.5% on every foreign currency transaction. On a $100 annual travel budget, eliminating this fee saves $250/year — more than offsetting many annual fees.
Travel Insurance Coverage: Premium travel cards include emergency medical, trip cancellation/interruption, flight delay, baggage loss, and car rental collision coverage. Read the fine print: coverage limits, age restrictions, and pre-existing condition exclusions vary significantly between cards.
Airport Lounge Access: The Scotiabank Passport Visa Infinite includes 6 annual Visa Airport Companion lounge passes. The Amex Platinum (not included here due to $699 annual fee) includes Priority Pass with unlimited access.
Points Programs: Aeroplan (Air Canada), Avion (RBC), Scotia Rewards, and Amex Membership Rewards are Canada's main bank points currencies. Aeroplan is generally the most valuable due to Air Canada's extensive network and Star Alliance partnerships.
These Canadian cards charge zero foreign transaction fees as of 2026:
For most travellers, the Scotiabank Passport Visa Infinite offers the best combination of no FX fee, strong insurance, and lounge access. For budget travellers or snowbirds who want a backup card, KOHO offers no FX fees with no credit check required.
Travel insurance on premium Canadian credit cards typically includes: emergency medical (up to $2M for under 65), trip cancellation ($1,500–$2,500/person), trip interruption ($1,500–$5,000/person), flight delay ($500–$1,000), and baggage delay/loss ($500–$1,000). Car rental collision/loss damage waiver is also standard on Visa Infinite and World Elite cards.
Important: Most cards cap emergency medical at $1M–$2M and restrict coverage to trips of 15–31 days for travellers under age 65. Snowbirds and anyone over 65 should purchase a separate annual travel insurance plan rather than relying solely on credit card coverage. See our travel medical insurance guide for more details.
Best for most Canadians: Scotiabank Passport Visa Infinite. No FX fees, strong insurance, lounge access, and a generous welcome bonus cover the $150 annual fee for anyone who travels once a year.
Best for foodies and dining: Amex Cobalt. 5x points on dining is unmatched, but you'll pay 2.5% FX fees internationally. Consider pairing with a no-FX card for international purchases.
Best free option: Rogers World Elite (for Rogers subscribers) or Home Trust Preferred Visa (for everyone else). Zero cost, no FX fees, minimal rewards.
Best for snowbirds: Scotiabank Passport Visa Infinite for purchases + KOHO as a spending card + a separate annual travel medical plan. This combination covers all bases.
The Scotiabank Passport Visa Infinite is the best all-around travel card for most Canadians — no foreign transaction fees, 6 airport lounge passes, comprehensive travel insurance, and a welcome bonus worth $400+.
Scotiabank Passport Visa Infinite, Scotiabank Gold Amex, Rogers World Elite, Home Trust Preferred Visa, and KOHO Extra all offer no foreign transaction fees. KOHO is a prepaid card, not a credit card, but works similarly for everyday spending.
No. Most credit cards cap emergency medical coverage at 15–31 days per trip and have strict age restrictions. Snowbirds spending months in the US or Florida should purchase a dedicated annual snowbird travel insurance plan.
See also: No Foreign Transaction Fee Cards Canada | Snowbird Banking Guide | Travel Medical Insurance Canada