Many people in Canada are probably wondering how to travel for free with credit cards? The concept is simple: registration fees, smart expenses and travel rewards can help you get free flights and hotel rooms. The problem is that there is a limited number of credit cards in Canada, so is it really possible to travel for free?
In theory, if you accumulate enough points, you can travel for free, but most people are looking for a short-term solution. As long as you meet certain requirements, it is quite easy to get big discounts or free trips. The key is to use the best travel credit cards in Canada and understand how their various rewards programs work. Do not worry, this step-by-step guide will guide you through the process and take you to your next destination in no time.
Dare for the sign-up bonus
The best way to win a free trip is to look for credit cards with big signup bonuses. Generally, you want to look for cards that offer at least $ 250 worth of extra value to make your time worth it. The list of Canadian travel credit cards shows the annual fee and the amount you earned in the first year.
For example, the BMO World Elite MasterCard offers an expense bonus of 35,000 points, worth $ 250. These points can be redeemed for any type of trip.
Although many people hate paying annual fees, it’s important to think about the big picture. Very often, registration bonuses and additional benefits are worth more than annual fees. Just the travel insurance can be worth several hundred dollars, so you will receive the value of your money as soon as you go on a trip. It should also be noted that some credit cards in Canada will remove the annual fee for the first year so you can try the card for free – and get the sign up bonus – as long as you cancel the card before the fees start.
Understand the rewards program for which you register
Each rewards program is different. It is important to understand how you can claim your rewards before applying. Scotia Rewards, CIBC Aventura Rewards, RBC Rewards, BMO Rewards and American Express Membership Rewards offer you no prohibited dates or seat restrictions, and allow you to pay your taxes with your points.
Airline credit cards like Aeroplan TD Visa Infinite and CIBC Aerogold Visa Infinite all have certain restrictions when collecting travel rewards, but that’s because of the nature of Aeroplan.
Make sure the minimum expenses are completed
With most signup bonuses, a minimum spend is required. Generally, $ 1,000 in the first 90 days or $ 3,000 in the first 3 months of membership. Some cards offer signup bonuses after your first purchase, but they are rare. Usually, the higher the sign-up bonus, the more you have to spend in the first three months.
Of course, if you can not meet these expense requirements, you should not register for these cards. That being said, if you can be sure that you have important purchases in the future, it would be wise to register first for a new credit card. Never buy things you do not need just to reach the minimum expenses and always pay your monthly balance.