Travel on a Budget with the Best Credit Cards for Summer 2023!

Table of Contents

1. Introduction
2. Acquiring Points with Credit Cards
   • CIBC Aeroplane Visa Infinite
   • TD Aeroplane Visa Privilege
   • American Express Aeroplan Reserve
   • Other Cards with Summer Bonuses
3. Booking Travel with Points or Cash
   • Insurance Coverage for Cash Bookings
   • Insurance Coverage for Points Bookings
4. Using Credit Cards While on Vacation
   • Acceptance and Foreign Transaction Fees
   • No Foreign Transaction Fee Options
5. Conclusion

Best Cards for Acquiring Points and Booking Travel

Summer is approaching, and it's time to plan our adventures and make those travel bookings. However, the increasing cost of travel is making it difficult to fulfill our travel dreams. But fret not! There is a way to offset some of these costs and make our travels more affordable. By taking full AdVantage of miles and points, we can unlock incredible savings and rewards. In this article, we will explore the best credit cards for acquiring points and booking travel. We will discuss the top cards that offer amazing welcome bonuses, preferred pricing, free bags, and insurance coverage. Additionally, we will guide You on how to choose the right card for your travel bookings and provide tips for using credit cards while on vacation.

Acquiring Points with Credit Cards

CIBC Aeroplane Visa Infinite

One of the top cards for acquiring points is the CIBC Aeroplane Visa Infinite. With a welcome bonus of 50,000 Aeroplan points, worth about a thousand dollars, this card offers a great incentive to get started. You can earn 10,000 points upon your first purchase and the remaining 40,000 points by spending a thousand dollars on the card within the first four months. Aeroplan is an easy-to-use loyalty program with numerous Star Alliance partners, allowing you to travel almost anywhere in the world using Aeroplan points. Additionally, this card offers Perks such as free bags for you and your travel companions, preferred pricing on bookings made with Aeroplan points, and insurance coverage for award bookings.

TD Aeroplane Visa Privilege

Another card worth considering is the TD Aeroplane Visa Privilege. This premium-tier card offers a welcome bonus of 115,000 Aeroplan points, which can be earned in multiple stages. You receive 20,000 points upon your first purchase, 60,000 points when you spend $7,500 within the first 180 days, and the remaining 35,000 points when you spend $12,000 on the card in the first year and renew for the Second year. The 80,000 points earned in the first year are sufficient for a one-way business class trip to Europe or Asia. This card also provides unlimited Maple Leaf Lounge access, priority check-in, baggage handling, and other Air Canada specific perks.

American Express Aeroplan Reserve

For those unable to meet the minimum spending requirements or prefer a different card, the American Express Aeroplan Reserve is an excellent alternative. Currently offering a bonus of 115,000 Aeroplan points or 120,000 points with a referral link, this card provides a compelling reward for new cardholders. The bonus points can be earned by meeting specified spending milestones within the first few months. While this card doesn't offer lounge access, it still comes with attractive benefits such as insurance coverage and extended Nexus credit. However, it's important to note the higher annual fee and minimum income requirement associated with this card.

Other Cards with Summer Bonuses

In addition to the Aeroplan cards, there are other credit cards with enticing summer bonuses. One such card is the American Express Marriott Bonvoy, which offers a welcome bonus of 75,000 Marriott points. These points can be used for hotel stays at premium or luxury properties within the Marriott Bonvoy program. Another option is the American Express Cobalt card, renowned for its exceptional earn rates. With 5x points on dining, food delivery, and groceries, this card can help you accumulate points quickly and fund your award travel. While these cards may not have the highest welcome bonuses, they offer various perks and benefits that make them valuable additions to your wallet.

Booking Travel with Points or Cash

When it comes to booking travel, whether using points or cash, it's essential to consider the benefits and insurance coverage provided by your credit card. Cash bookings with most travel cards generally offer good insurance coverage, especially for cards with annual fees of $120 or more. However, it's crucial to review your card's insurance certificate for details on coverage limitations and requirements. On the other HAND, booking with points requires careful consideration of the loyalty program's rules and the specific card you're using.

Insurance Coverage for Cash Bookings

If you choose to book your travel with cash, most travel cards offer comprehensive insurance coverage. These insurance benefits often include trip cancellation/interruption insurance, flight delay insurance, baggage insurance, and emergency medical insurance. However, it's essential to understand the specific terms and conditions of your card's insurance coverage, as they may vary between different issuers and card types.

Insurance Coverage for Points Bookings

When booking with points, you need to pay Attention to the loyalty program's rules and the requirements for insurance coverage. In most cases, you need to use the credit card associated with the loyalty program to pay for the taxes and fees to qualify for insurance coverage. This applies to co-branded cards like the RBC Avion Visa or Aeroplan credit cards. If you pay the taxes and fees with a different card, you may not be eligible for the insurance benefits. However, some cards, like the National Bank World Elite Mastercard, offer insurance coverage for any award booking, regardless of the payment method.

Using Credit Cards While on Vacation

Using the right credit card while on vacation is crucial to maximize benefits and minimize fees. When traveling within Canada, you can simply use the card you already have without incurring additional fees. However, when crossing international borders, there are a few factors to consider.

Acceptance and Foreign Transaction Fees

Visa and Mastercard have wider acceptance globally compared to American Express. Therefore, it's advisable to carry a Visa or Mastercard for better acceptance, especially in remote locations or smaller establishments. Additionally, you should look for a card that offers no foreign transaction fees, as these fees can quickly add up when using your card abroad. By avoiding foreign transaction fees, you can save a significant amount of money on your travel expenses.

No Foreign Transaction Fee Options

If you want a card with no foreign transaction fees, one excellent option is the Rogers World Elite Mastercard. This card not only has no annual fee but also offers cashback on purchases made in foreign currency. Another card to consider is the Brim World Mastercard, which has no annual fee and no foreign transaction fees. These no foreign transaction fee options allow you to make purchases abroad without incurring additional costs.

Conclusion

In conclusion, utilizing the right credit cards can significantly enhance your travel experiences and make your adventures more affordable. By acquiring points through credit card bonuses and strategically booking travel with your earned points, you can unlock fantastic savings and benefits. Additionally, choosing the right credit cards for your travel needs, understanding insurance coverage, and using the appropriate cards while on vacation can further enhance your overall experience. So start planning your dream vacations, take advantage of miles and points, and make your travel dreams a reality!

Highlights

• Acquire points with the CIBC Aeroplane Visa Infinite, TD Aeroplane Visa Privilege, or American Express Aeroplan Reserve.
• Explore other cards with summer bonuses such as the American Express Marriott Bonvoy or the American Express Cobalt card.
• Consider insurance coverage when booking travel with points or cash.
• Use credit cards without foreign transaction fees to minimize costs while traveling abroad.

FAQ

Q: Can I use a non-co-branded credit card to book travel using points? A: Yes, you can use a non-co-branded credit card to book travel using points, provided the loyalty program allows it. However, you may need to ensure that you pay the taxes and fees with the credit card associated with the loyalty program to qualify for insurance coverage.

Q: Are there any credit cards with no foreign transaction fees? A: Yes, there are credit cards available with no foreign transaction fees. Examples include the Rogers World Elite Mastercard and the Brim World Mastercard. These cards allow you to make international purchases without incurring additional costs.

Q: Which credit cards offer the best insurance coverage for travel bookings? A: Premium-tier credit cards such as the CIBC Aeroplane Visa Infinite Privilege and American Express Aeroplan Reserve often offer more comprehensive insurance coverage for travel bookings. However, it's essential to review the specific insurance benefits and limitations of each card's coverage.

Q: Can I use any credit card while on vacation? A: It is advisable to use credit cards with wider acceptance, such as Visa or Mastercard, while on vacation. American Express cards may have more limited acceptance in certain locations. Additionally, it's important to choose a credit card without foreign transaction fees to avoid additional costs when making purchases abroad.

Q: Do co-branded credit cards offer better rewards for travel bookings? A: Co-branded credit cards often offer additional perks and benefits specific to the associated loyalty program. These benefits may include free bags, priority check-in, or lounge access. However, the rewards and benefits vary between different co-branded cards, so it's important to review the specific offerings of each card before making a decision.