Canada’s Top Travel Rewards Credit Cards for 2020 revealed – It’s the calm before the storm

The more things change, the more they stay the same, at least that is the case in the travel rewards credit card industry. For a third straight year, the American Express Cobalt Card takes the top prize in Reward Canada’s Travel Rewards Credit Cards Ranking. For over 12 years Rewards Canada has been helping Canadians sift through the more than 70 travel rewards credit card offerings with its annual ranking. The rankings can be found at 

This year’s ranking reflects a holding pattern as the industry braces for what will likely be a seismic event; the unveiling of Air Canada’s new loyalty program.

“This is the calm before the storm,” says Patrick Sojka, founder of “We know that Air Canada will announce their plan for Aeroplan in the comings months as they reveal their new reward program that will launch this summer. This should spark a strong reaction from competitors and ultimately translate into better consumer offers.”

In addition to the Cobalt Card taking home “Best Overall Travel Reward Card’ honours, the remaining five categories that cards are ranked in are: Travel Points with annual fee, Travel Rewards Credit Card with no annual fee, Hybrid (flexible currency), Airline and Coalition card. The credit cards are evaluated by key factors including cost, co-brand partnerships, rate-of-return, benefits and redemption options.

And The Winners Are:

Top Travel Rewards Card overall

American Express Cobalt Card

Travel Points Credit Card
Scotiabank Gold American Express Card

No Fee Travel Rewards Credit Card
mbna Rewards Platinum Plus Mastercard

Hybrid Card (Flexible Currency)

American Express Cobalt Card

Airline Card
WestJet RBC World Elite Mastercard

Coalition Program Card

TD Aeroplan Visa Infinite Card

Other highlights include the Scotiabank Gold American Express card, which thanks to a major revamp catapulted it to Top Travel Points Credit Card. The card saw an increase in points earning and sets itself apart with its No Foreign Transaction fees. Another notable highlight is the enhanced American Express Air Miles Platinum Card, it is now the strongest earning AIR MILES card in the market which moves it ahead of the BMO AIR MILES World Elite Mastercard in the coalition category.

“The purpose of our annual ranking is to make choosing the right travel reward card easier”, adds Sojka. “It’s also about staying on top of trends and keeping Canadians informed of how industry changes may impact their enjoyment of these cards.”

The Top Travel Rewards Card feature, with complete rankings and background, can be found online at: