The best travel insurance credit cards in Canada for 2024 + MORE Jul 3rd

Owning a vacation property can be a lot of fun. A cottage, cabin, condo or trailer a short drive from your home can provide a quick weekend recharge. A property down south can provide a regular vacation destination or a winter home for a snowbird.

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…

Spend

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)…

A really good new AIR MILES Card Linked offer came out today that should appeal to a lot of our readers as it is for Porter Airlines! Collectors who have linked any Canadian Mastercard to their AIR MILES account (see instructions below on how to link) can earn bonus AIR MILES when booking flights directly […]
The post Earn 125 Bonus AIR MILES when booking Porter Airlines flights with a card linked Mastercard appeared first on Rewards Canada.

Scotiabank’s summer offers are out and the only card in their suite of products to receive an increased limited time welcome bonus is the Scotiabank Gold American Express Card. Right now when you apply for and are approved for the card you can earn up to 45,000 Scene+ points plus pay no annual fee in the […]
The post Scotiabank Gold American Express Card: new increased bonus of 45,000 points and first year free! appeared first on Rewards Canada.

Credit Cards

Best cash back credit cards in Canada
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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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)…