Whether you want free international business class flights, zero foreign conversion fees on vacation, or complimentary airport lounge access, Canada’s travel credit card market offers massive returns in 2026.
1. American Express Cobalt: Undisputed King of Travel Rewards
Earning 5x Membership Rewards points per dollar on eats & drinks (dining, takeout, groceries up to $2,500/mo), the Cobalt card ($15.99/month) transfers 1:1 to Air Canada Aeroplan (and 5:6 to Marriott Bonvoy). At a conservative 2¢ per Aeroplan point valuation, 5x eats & drinks spend equals an extraordinary **10% return on food**.
2. Scotiabank Passport Visa Infinite: Best No Foreign Exchange Fee Card
Most Canadian cards tack on an expensive 2.5% foreign currency conversion markup on every overseas purchase. The Scotiabank Passport waives this fee entirely and includes 6 complimentary DragonPass airport lounge passes per year.
| Card | Top Category Reward | FX Fee | Lounge Passes | Est. Net Annual Travel Value |
|---|---|---|---|---|
| Amex Cobalt | 5x Eats & Drinks (Aeroplan 1:1) | 2.5% | None | $1,150 |
| Scotiabank Passport Visa Infinite | 3x Scene+ Sobeys/Empire | 0% | 6 Passes / year | $720 |
| TD Aeroplan Visa Infinite | 1.5x Gas/Grocery/Air Canada | 2.5% | None (free first checked bag instead) | $850 |
| RBC Avion Visa Infinite | 1.25x Travel | 2.5% | None | $600 |
💡 Strategy Highlight
Pro Travel Strategy: Pair the Amex Cobalt for daily food spending in Canada with the Scotiabank Passport Visa Infinite for foreign travel and airport lounges!
