The best travel insurance credit cards in Canada for 2024 + MORE Jul 2nd

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The best travel insurance credit cards in Canada for 2024
Searching for the perfect card? Compare your options with our interactive tool, and filter results based on rewards value, annual fees, income requirements, and more.

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Top cards for travel insurance

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National Bank World Elite Mastercard

Travel medical emergency insurance for trips up to 60 days with insurance options also available for seniors (rare among travel cards).

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Scotia Passport Visa Infinite Card

Travel insurance for trips up to 25 days. Plus receive airport lounge and noforex perks.

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Rogers Red World Elite

Among the few no fee credit cards to offer comprehensive travel insurance (for trips of up to 10 days)…

Sometimes, emotions are the motivation for buying a vacation property. I like to evaluate a property purchase from a financial point of view as well—and here’s how. 

The costs of buying a vacation property

Say, a property’s purchase price is $500,000. Whether you use cash, a mortgage/home equity line of credit, or a combination of the two, there are other costs to consider.

If you purchase with cash that you could otherwise invest for a 4.5% return (to use a conservative assumption), there is an opportunity cost of not investing that money or leaving it invested. If you borrow money, there may be an interest cost of 4.5%. So, to keep it simple, we will assume an opportunity cost or financing cost of 4.5%. 

Property taxes, utilities, insurance, condo fees, and maintenance could easily add another 2% to 4% per year in costs…

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Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-traded funds (ETFs), guaranteed investment certificates (GICs), bonds, stocks and, yes, plain old cash. While you do have to abide by the set amount of contribution room each year, any growth you earn on those investments will not affect your contribution room for the current year or years to come. Plus, the income earned is tax-free (more on that below). Any resident of Canada who is 18 or older and has a valid social insurance number can open a TFSA.

Featured TFSA Accounts

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Best GIC rate

Earn a guaranteed 5.05% tax free when you lock in for 1 year.

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Best online brokerage

Open a TFSA investment account and trade ETFs and stocks with $0 commission on all online stock transactions…

Credit Cards

Best cash back credit cards in Canada
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Known for their simplicity and versatility, cash back cards eliminate the hassle of tracking loyalty points and offer the ultimate reward—a percentage of what you spend back in cash.

If you want to maximize your cash back rewards, start with one of these three cards, which suit the preferences and habits of most Canadians. Or keep scrolling for a curated list of recommendations across even more categories.

Top cash back CREDIT CARDS

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Best overall cash back

Earn 4% back on groceries and gas, and 2% on everything else you buy.

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Best for groceries and families

Earn 4% on groceries and recurring payments (includes eligible utility bills, insurance premiums, and more)…