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Maximize Your Summer Travel Savings with Cash Back Rewards

Summer is the ideal season for an escape getaway, whether you’re embarking on a cross-country road trip or flying to a far-flung destination. Adding to the joy of these journeys is the opportunity to earn cash back on your travel costs. Using the appropriate rewards credit cards can significantly boost your savings and make your vacations more affordable and budget-friendly. Find out how you can earn cash back on your summer travel plans with our guide, featuring top-notch rewards credit cards tailored for Canadian travellers.

Understanding Cash Back Credit Card Rewards

Cash-back rewards are the kind of incentive a credit card issuer provides where the percentage amount spent is returned to you. One could argue that utilizing cash-back credit cards is the way to go. In recent years, numerous travel rewards programs have diminished the value of their points, complicating claiming rewards and prompting travellers to switch to cash-back cards for more reliable rewards.

During travel, expenses can quickly accumulate. Utilizing a rewards credit card allows you to earn back a percentage of your expenditures, which can help mitigate costs such as flights, lodging, dining, and other essentials. These cards appeal to casual travellers who appreciate the flexibility of using their cash-back rewards.

Best Rewards Credit Cards for Summer Travelers

Scotiabank Momentum Visa Infinite* Card

The Scotiabank Momentum Visa Infinite Card is among the best cash-back credit cards for Canadian travellers looking to earn cash back on their summer travel expenses. Here are the critical details about this card:

Cash Back Rate

• Get 10% cash back on all purchases during the first 3 months (up to $2,000 in total purchases). Enjoy no annual fee in the first year, including supplementary cards. This fantastic offer is valid until October 31, 2024.
• This card allows you to earn 4% cash back on eligible grocery store and recurring bill payments, 2% on gas and daily transit, and 1% on all other purchases.

Interest Rate

• This credit card features a 20.99% interest rate on purchases and 22.99% on cash advances, making it appealing to those who like spending a lot, enhancing ease during spending.

Annual Fee

• Enjoy no annual fee for the first year on new accounts; afterward, a yearly fee of $120 applies annually.

Travel Perks

• Enjoy extensive travel benefits, including insurance coverage for baggage delay, loss, car rentals, extended warranties, and purchase assurance. Access Visa Infinite perks such as 24/7 concierge services and exclusive offers for a worry-free travel experience.

SimplyCash Card from American Express

The SimplyCash™ Card from American Express is an ideal choice for Canadian travellers seeking simplicity and rewards. Here are the key details:

Cash Back Rate

• Earn 2% cash back on all purchases, simplifying rewards for everyday spending with the SimplyCash™ Card from American Express.

Interest Rate

• Enjoy competitive rates of 20.99% on purchases and 21.99% on funds advances, ensuring cost-effectiveness and flexibility in financing.

Annual Fee

• With no annual fee, the SimplyCash™ Card from American Express offers a cost-effective solution for cardholders.

Welcome Bonus

• New cardholders earn 4% cash back on all purchases (up to $200) in the first six months, providing a generous incentive to start saving immediately.

Travel Perks

• Cardholders benefit from exclusive access to American Express Invites®, featuring advanced screenings and special events. This enhances the cardholder experience by providing entertainment and cultural events opportunities. Whether it’s securing tickets to sought-after concerts or enjoying early access to film premieres, the SimplyCash™ Card from American Express ensures memorable experiences beyond cash-back rewards.

Conclusion

Saving money by earning cash back on your summer travels can really make a difference to your budget, reduce overall expenses, and enhance your vacation experience. Choosing a rewards credit card that suits your needs and using it wisely can help you maximize your cash-back rewards to offset your expenses. Some popular options for Canadian travellers include the Scotiabank Momentum Visa Infinite* Card, SimplyCash Card from American Express, and Tangerine Money-Back Credit Card. Enjoy your adventures and happy saving!