Best cards for digital nomads from Canada

Why the Right Credit Card Matters When You Live Abroad

When you’re outside of Canada, your credit card isn’t just a payment method. It’s your lifeline. Not only are you charging hotels, dining experiences, and plane tickets, but you may also be relying on it as a backup payment method. You know, “just in case.” But what happens if you choose the wrong card? Now, it’s more than missing out on rewards; it can cost you hundreds in annual fees and foreign transaction expenses. Not to mention the need for additional travel insurance.

Foreign transaction fees can make a meaningful dent in the budget of any Canadian abroad. Most credit cards charge around 2.5% on purchases made in a currency other than CAD. Believe me, this can add up. For example, if you charge $20,000 per year on your credit card (which is easy to do when paying for airline tickets, Airbnbs, and hotels), then you could be paying as much as $500 in foreign transaction expenses alone. The right card can make all the difference.

Another valuable credit card benefit is travel insurance. As a Canadian abroad, you likely want to have insurance. Many cards come with this benefit built in, which means shopping around for an insurance provider is one less thing on your “to-do list.”

Key Features of a Credit Card for Digital Nomads

Choosing the right credit card for your needs requires many considerations. Especially when your home base can vary from a historic town in Europe to a beachfront paradise in Asia. As you evaluate your credit card needs, consider the following features:

·       No foreign transaction fees. By selecting a great card with no foreign exchange fees, you can save around 2.5% on every purchase abroad. And over time, there are a lot of them.

·       Travel insurance coverage. Look for a credit card that offers medical coverage, trip cancellation, trip interruption, and baggage protection.

·       Rewards flexibility. A flexible credit card means you get access to multiple different rewards and redemption possibilities.

·       Airport lounge access. When you’re bouncing between long-haul flights while tight on a deadline, lounge access can be a lifesaver.  

·       Global acceptance. Typically, it is possible to use Visa and Mastercard worldwide. The same is not true of American Express or other niche providers.

·       Mobile-friendly account management. Mobile applications allow you to set up instant alerts and receive a warning about any purchases made on your card. See a fraudulent charge? You can react quickly and lock your card through the app.

From our editors: The full list of Best Credit Cards for Digital Nomads

Finding the “best” credit card depends on where you travel, how you spend, and the benefits that matter the most to you.

Best for digital nomads today: Scotiabank Passport Visa Infinite

The Scotia Passport Visa Infinite card might just be “the best” travel card in Canada. A key benefit is no foreign transaction fees, allowing you to save money with every swipe abroad. Believe me, when it comes to making purchases in a foreign currency, those savings add up quickly.

The card also boasts comprehensive insurance coverage in the form of trip cancellation, trip interruption, flight delay, baggage delay, and more. While you likely have your own insurance plan, this additional coverage can help fill the gaps.

The benefits of this card include earning points which you can use towards any travel expense, ranging from hotels and transportation (think Grab rides and train trips) to restaurants. Lastly, this card offers airport lounge access through the Dragon Pass program. Each year, you will receive six free entries at applicable lounges. This perk is a lifesaver when you’re stuck finishing a project at the airport before you jet off to a new destination.

This Scotiabank card is the top pick on Finlywealth’s list of the Best Travel Credit Cards in Canada for a reason. It is an ideal choice for digital nomads, anyone living abroad, and even those searching for a solid travel credit card. To learn more read Scotiabank Passport Visa Infinite Card review.

Best for no-fee travel card: American Express Green Card

For anyone abroad who doesn’t want to bother with annual fees, the American Express Green Card is a perfect option. It offers the perk of 1x American Express Membership Rewards for each dollar spent. Unfortunately, though, no fee cards tend to come with fewer benefits, and this card is no exception. The Green Card doesn’t have any free lounge passes or offer additional travel insurance. That said, earning points without paying an annual fee is appealing for a budget-conscious nomad. To learn more read American Express Green Card review.

Best for travel insurance: BMO Ascend World Elite Mastercard

The BMO Ascend World Elite Mastercard offers fourteen types of insurance, including trip cancellation and emergency out-of-province medical coverage. Not to mention that it also provides insurance on rental cars for those cross-country trips. I can tell you from experience that these insurance premiums, if purchased independently, can get costly.

The BMO card offers perks in addition to insurance, including four Dragon Passes per year for use in airport lounges. It also has a flexible rewards program where you can earn 5 points for each $1 of travel spending.

Pro tip: Carry at least two different network cards with you. Sometimes merchants will only accept one card type, like Visa or Mastercard. Plus, the second card can act as a backup in case your everyday card gets lost, stolen, or hacked. Learn more at BMO Ascend World Elite Mastercard review.

How We Picked These Cards

Choosing the best credit cards for digital nomads required looking at more than just rewards or perks. We considered how each card performs in real-world travel situations — from booking flights and accommodations to making daily purchases abroad. The first factor was whether the card charges foreign transaction fees, since those can quietly add up and eat into your budget.

Next, we evaluated each card’s travel insurance benefits, including coverage for medical emergencies, trip interruptions, and lost baggage — essential protections for anyone frequently on the move. We also looked at the rewards structure, focusing on cards that offer flexible points or cash back that can be redeemed for flights, hotels, or everyday expenses.

Finally, we considered added travel conveniences like airport lounge access, global acceptance, and user-friendly mobile apps that make managing your card from anywhere in the world simple and secure. Each card on our list was selected to support the lifestyle of Canadians living or working abroad, helping you save money while maximizing peace of mind.

Final Thoughts

As a Canadian digital nomad, the right credit card is just as important in your packing list as your passport. With it, everything runs smoothly. But without it, you can run into plenty of problems. The best credit card for digital nomads combines no foreign exchange fees with robust insurance coverage and practical perks that make life on the road just a little bit easier.

Choose a card that supports the way you live, work, and play abroad. Because the less time you spend thinking about your wallet, the more time you have for adventure.