After the Big Guide to Canadian credit cards was published, some readers responded that they were surprised by the rankings. While some of the feedback was certainly valid, it’s worth noting that the lists were guides, and not a definitive ranking.
One aspect of the methodology that was often debated is the related perks. For travel cards, they only counted for 10 per cent, while for cash back cards, the benefits weren’t factored in at all.
While every card lists the perks included, consumers must dive deep into the details to determine how they can benefit from them.
American Express
Even though the American Express Platinum Card was listed as No. 8 in our guide to travel cards, it likely ranks higher for avid travellers. The primary cardholder gets unlimited airport lounge access for themselves plus one guest, Gold Elite Status hotel benefits through Marriott Bonvoy, exceptional travel insurance, continuing statement credits – such as a yearly $200 travel credit and annual $200 dining credit – and access to Fine Hotels + Resorts, which gives you perks such as room upgrades, dining credits and late checkout.
It’s also worth noting that American Express provides Front Of The Line access to cardholders. This perk provides presale ticket access to popular concerts and global events, such as Formula One and Wimbledon. Even though Front of The Line access has no monetary value, many people may consider this benefit invaluable.
Marriott Bonvoy
One card that didn’t appear on the travel guide is the Marriott Bonvoy American Express Card. Since Marriott Bonvoy is a hotel loyalty program, it didn’t make sense to include the card in the list, which focused on flight redemptions.
That said, there’s no denying the Marriott Bonvoy American Express Card is an excellent travel credit card. The key feature is the annual free night award after your card anniversary each year. This free night is worth up to 35,000 Marriott Bonvoy points and is easily worth more than the $120 annual fee, often making this card a no-brainer for all types of travellers.
Additionally, Marriott Bonvoy offers “Moments” where you can use your points to bid or buy access to exclusive events, such as a trip to Vancouver with tickets to the final Taylor Swift Eras Tour show and dining experiences with celebrity chefs around the world. A successful bid or buy with points on a once-in-a-lifetime experience may be something you talk about for the rest of your life.
Visa Infinite Privilege
Some people hesitate to apply for a Visa Infinite Privilege card as they often have an annual fee of $499 or more, but the list of benefits included is quite long.
As a cardholder, you get six free annual airport lounge visits through the Visa airport companion program. Similar access would cost you US$199 or more per year. You also get priority security lane access at Vancouver, Toronto (City), Montreal and Ottawa airports.
Visa has also recently emphasized dining for cardholders by offering exclusive reservations at some of the country’s most popular exclusive restaurants, such as Hawksworth Restaurant, Botanist, Alo Restaurant, DOPO and Damas Restaurant. Throughout the year, cardholders can also purchase access to dining events, such as interactive experiences with chefs, sommeliers and mixologists.
Consider the TD Aeroplan Visa Infinite Privilege Card and the American Express Aeroplan Reserve Card to give you some context of when these benefits may make a difference. In terms of the earning rate and perks, they’re very similar, so your decision-making may come down to the additional benefits. If you prefer extra lounge access, the Visa Infinite Privilege is the obvious choice. However, if you value access to presale tickets, go with the American Express Card.
World Elite Business Mastercard
Most business owners will get a business credit card with their main bank, but it might be worth shopping around. Depending on the tier of your card, Mastercard provides different small business perks, regardless of which bank issues your card.
World Elite Business Mastercard cardholders get free global data plans via FlexiRoam. Small Business Standard and World Elite cardholders get discounts on tax filings with H&R Block. Additionally, all Mastercard Business cardholders get access to Mastercard Easy Saving Specials, which gives you discounts with select partners such as Adobe Acrobat Pro, DocuSign and Welcome Pickups.
The Big Guide to Credit Cards doesn’t emphasize additional credit card perks, but that doesn’t mean they’re unimportant. For many users, the additional benefits are often the deciding factor when choosing one card over another, so it’s always worth looking at what cards offer.
Barry Choi is a personal finance and travel expert at moneywehave.com. He was previously affiliated with American Express, Marriott Bonvoy, and Aeroplan but currently has no relationship.
