Best Travel Credit Card Canada (A Comprehensive Review)

Updated: Jun 22

Are you on the hunt for the best travel credit card Canada?

Do you want a card that offers exceptional perks and rewards, making your travels more enjoyable and budget-friendly?

Today I'll show you the best travel credit card Canada and why it stands out as the best travel credit card in Canada.

In this comprehensive guide, we'll dive deep into the perks, rewards, and benefits of the American Express Cobalt Card, and why it outshines other Canadian travel credit cards.

What is the Amex Express Cobalt Card?

The American Express Cobalt Card is a premium travel rewards card designed to cater to the lifestyle of frequent travelers, foodies, and entertainment enthusiasts.

With a flexible rewards program, generous welcome bonus, and extensive insurance coverage, the Cobalt Card is truly the best travel companion for Canadians.

Perks and Rewards of the Cobalt Card

a. Earning Points

One of the main reasons the Cobalt Card stands out is its exceptional points earning structure. With this card, you can earn:

5 Membership Rewards points per dollar spent on eligible dining and food delivery purchases in Canada
3 points per dollar spent on eligible streaming services
2 points per dollar spent on eligible travel and transit purchases, including flights, hotels, and public transportation
1 point per dollar spent on all other purchases

And as a new cardmember, you can earn up to 30,000 bonus Membership Rewards points in your first year by earning 2,500 points each month you spend at least $500 on your card.

That can translate to an extra $300!

b. Redeeming Points

The flexibility of the Membership Rewards program allows you to redeem points in various ways, such as:

Travel: Use points to book flights, hotels, car rentals, and vacation packages through American Express Travel
Statement credits: Redeem points for statement credits towards eligible travel or everyday purchases
Gift cards: Exchange points for gift cards from popular retailers, restaurants, and entertainment providers
Merchandise: Redeem points for products from the American Express online catalog
Amazon.ca: Use points to shop directly on Amazon.ca

c. Travel Perks

The Cobalt Card comes with a range of travel perks that make your trips more enjoyable and hassle-free, including:

Access to American Express Invites: Enjoy exclusive access to presale tickets, reserved seating, and special events
Hotel and resort benefits: Receive complimentary room upgrades, late checkout, and other perks at over 600 participating hotels worldwide
Car rental benefits: Get discounted rates and priority service with select car rental partners

d. Dining and Entertainment

As a food and entertainment lover, you'll appreciate the Cobalt Card's dining and entertainment benefits, such as:

Monthly dining credit: Receive a $10 statement credit each month when you spend at least $30 at participating restaurants
Exclusive dining experiences: Gain access to unique culinary events and dining experiences through the American Express Global Dining Collection

e. Insurance and Protection

The Cobalt Card provides comprehensive insurance coverage to protect you during your travels, including:

Travel emergency assistance
Flight delay, baggage delay, and lost or stolen baggage insurance
Trip cancellation and trip interruption insurance
Car rental theft and damage insurance
Travel accident insurance
Purchase protection and extended warranty

Comparing Cobalt to Other Canadian Travel Credit Cards

When compared to other Canadian travel credit cards, the American Express Cobalt Card consistently comes out on top.

Here's why:

Generous points earning structure

The Cobalt Card offers one of the highest earn rates for dining, travel, and entertainment purchases among Canadian travel credit cards.

Actually, why even downplay it. It offers THE highest earn rate for dining.

Flexible rewards program

The Membership Rewards program allows for versatile point redemption, including travel bookings, statement credits, gift cards, and more.

Comprehensive insurance coverage

With extensive travel and purchase protection, the Cobalt Card offers peace of mind while you're on the go.

Unique dining and entertainment benefits

The Cobalt Card's monthly dining credit, exclusive dining experiences, and American Express Invites program set it apart from the competition.

The Real Earning

All of this sounds great but...

How much could you actually earn from this card given your everyday spending?

Well that's a time-consuming task and involves knowing about all your spending habits, exactly how much you spend in different categories and etc.

I skipped all that work and instead just connected to Finly to find out my true estimated earnings per year.

After having my spending habits analyzed by the Finly AI tool, I realized I'd be earning over $700 in rewards just by using the Amex Cobalt credit card.

The decision making was easy after that.

How to Maximize the Value of Your Cobalt Card

To get the most out of your American Express Cobalt Card, consider these tips:

Take advantage of the card's bonus categories

Make sure to use your Cobalt Card for all your dining, travel, and entertainment purchases to maximize your points earning potential.

Redeem points for travel

Points are typically worth more when redeemed for travel through American Express Travel, so consider using your points for flights, hotels, or vacation packages.

Utilize the monthly dining credit

Don't forget to take advantage of the $10 monthly dining credit by spending at least $30 at participating restaurants.

Leverage the Cobalt Card's travel perks

Make use of the card's hotel and car rental benefits, as well as the American Express Invites program, to enhance your travel experiences.

Is the American Express Cobalt Card Right for You?

So, is the Cobalt Card the perfect match for your travel and lifestyle needs?

If you're a frequent traveler who loves dining out and enjoying entertainment experiences, the American Express Cobalt Card is a fantastic choice.

With its generous rewards structure, flexible redemption options, and extensive insurance coverage, the Cobalt Card offers exceptional value that's hard to beat.

Conclusion

The American Express Cobalt Card is undoubtedly the best travel credit card in Canada, offering an array of perks, rewards, and benefits that cater to the needs of frequent travelers, food enthusiasts, and entertainment lovers.

If you're looking for a travel credit card that offers exceptional value and enhances your travel experiences, the Cobalt Card is the clear winner.

Apply for the American Express Cobalt Card today and start enjoying the incredible benefits this card has to offer!

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I hope you enjoy reading this article.

Best Travel Credit Card Canada (A Comprehensive Review)