Four Canadian Travel Cards Worth Comparing in 2026

There is no universal best travel card

A travel card's value depends on where you spend, which merchants accept its network, how you redeem points, and whether you would otherwise pay for the included benefits. Compare the card against the best realistic alternative for you, not against earning nothing.

1. American Express Cobalt Card

Cobalt earns 5 Membership Rewards points per dollar on eligible restaurants, groceries, food delivery and drinks in Canada, up to a combined $2,500 per month in those categories. It earns 3 points per dollar on eligible streaming subscriptions and 2 points per dollar on eligible gas, transit and rideshare purchases in Canada. The fee is $15.99 per month, equivalent to $191.88 per year.

It is worth comparing when food and grocery spending is high and the merchants you use accept American Express. The principal drawbacks are acceptance gaps, the monthly 5x cap and a standard foreign-currency conversion fee.

2. Scotiabank Gold American Express Card

This card is worth comparing for travellers who want to avoid Scotiabank's foreign transaction fee while also earning accelerated Scene+ points in Canada. Its strongest earn rates apply to specified categories and participating merchants, so check the product page for the current categories, caps and annual fee.

The no-FX feature does not eliminate the exchange-rate conversion itself; it removes the issuer's stated foreign-currency conversion fee. American Express acceptance may also be narrower than Visa or Mastercard in some locations.

3. TD Aeroplan Visa Infinite Card

TD's card earns 1.5 Aeroplan points per dollar on eligible gas, EV charging, grocery and purchases made directly through Air Canada, up to a combined $80,000 annual amount in those accelerated categories. It includes a free first checked bag for the primary or additional cardholder and up to eight travel companions on the same eligible Air Canada reservation when the published conditions are met.

This card is most relevant to people who regularly fly Air Canada and can use the Aeroplan-specific benefits. The annual fee and redemption value should still be compared with a no-fee or flexible-rewards alternative.

4. American Express Aeroplan Reserve Card

The Reserve is a premium Air Canada option with a $599 annual fee and a package of airport, baggage and lounge-related benefits subject to its terms. It is not automatically better than a lower-fee Aeroplan card. Its value depends on how often you use the specific benefits and whether those benefits replace expenses you would otherwise pay.

A simple comparison method

For each card, estimate:

• annual rewards from your actual category spending;
• a conservative value for points based on redemptions you would genuinely make;
• the value of credits or travel benefits you would otherwise buy;
• the annual fee and any foreign-currency fees; and
• the rewards available from your best no-fee alternative.

A premium card is justified only when its incremental value exceeds its incremental cost with a reasonable margin. Approval is always subject to the issuer's underwriting.