Travel Credit Card Canada
Travel credit cards are one way to get the best out of your credit cards. Aside from buying the goods and merchandise that you need everyday, you are able to enjoy the benefits of travelling to your desired destinations for free.
However, we also must consider the type of payer you are. This card basically works best for people who has a good credit and those who don't carry a balance. With this kind of setup, for every transaction that you make, you earn a point that will be redeemable for travel once it reaches a certain level.
Now, let's look into the insurances that the travel credit cards Canada offer.
Insurances that the Card Covers
Accident
Travel accident insurance covers accidental death and dismemberment when you, your spouse or any dependent children travel on a common carrier (plane, train, bus or ship). To be eligible for this insurance, you must have bought your tickets with your credit card.
Trip Cancellation or Interruption
If an illness, injury or other covered cause prevents you from starting your trip, you'll be covered for up to a certain amount of eligible cancellation expenses per eligible person. Eligible expenses include the cost of unused travel arrangements that were charged to your card or, with pre-approval, the cost of leaving later for your trip.
Also, if a covered cause prevents you from completing your trip, you'll be covered for up to a certain amount of eligible trip interruption expenses per eligible person.
If you need to file a claim for a canceled trip, you’ll need:
-proof from the airline that the trip was canceled or
-a doctor’s note (in the case of a medical emergency) or
-a death certificate (if your trip was canceled due to a death in the family).
Medical
Travel medical insurance covers, up to a certain limit, some medical expenses when you travel outside your province of residence. These expenses could include: medical consultation charges, hospitalization charges, ambulance service fees, etc. Your spouse and any dependent children may also be eligible for benefits when traveling with you.
Car Rental
Use your eligible card to charge the full cost of a car rental and the Auto Rental Collision/Loss Damage Insurance program will cover you at no additional cost. Travel Credit Card Canada. This insurance coverage means you do not need to purchase the collision/loss damage insurance coverage offered by the car rental company. You'll be protected against loss arising from damage to the rental car on most rentals in North America and many foreign countries.
Flight Delay
Flight delay insurance covers reasonable and necessary hotel, motel or restaurant expenses, up to a certain dollar amount, when your flight is delayed or you are denied boarding for a period of time, and no alternate transportation is available. Your spouse and any dependent children may also be eligible for benefits when travelling with you.
Baggage
If your checked baggage is lost or delayed by more than six hours from the time of arrival at your final destination, you, your spouse and dependent children can be reimbursed up a certain amount. This includes the cost to replace essential items purchased before the baggage is returned to you, and the replacement cost of personal property that is not covered by the airline or other insurance if your checked baggage is never returned.
Purchase Protection and Extended Warranty
If an eligible item that you purchased in full with your travel credit card is stolen or damaged within 90 days of purchase, it may be replaced or repaired or you will be reimbursed for it. If the item comes with a manufacturer's warranty, you may be entitled to double the warranty period by up to 12 additional months.
Travel Rewards Credit Cards Canada
MBNA - WorldPoints
Capital One - No Hassle Rewards
AIRMILES
In order to earn points, you need to have an Airmiles Collector Card where you can turn your everyday purchases like groceries and gas into Airmiles Reward miles in which you can then avail for the thing you really want, like dream vacations, home theatres to entertain the whole family, relax on a movie, have an unforgettable date with your loved one or just be free to unwind and explore the world.
Earning reward miles is easy and quick through the featured offers and promotions that these companies, shops and boutiques offers. You will never know that your reward miles are doubling up in point as you purchases things for your day to day needs especially hitting on those promos that offers additional points. Travel Credit Card Canada. You can earn point with almost everything, from auto care and services to electronics, grocery, drugstore and beverages and also through financial and insurance service. There are a lot more of sources of these Airmiles Reward points.
Another ways of earning reward miles is through Airmilesshops.ca where you can just easily log in at home and buy the goods you need with the equivalent points to earn. A lot of featured online sponsors are being advertised, showing how great they would provide points when you purchase their products. This is a hassle-free way of accumulating point and get closer to your dreams.
Collecting Air Miles rewards is made easy. All you just need is first carry your Air Miles Collector card with you. Second, present your Air Miles Collector card when you make qualifying purchases from a sponsor. And lastly, build up your Air Miles reward miles and then exchange them for travel, leisure and entertainment or merchandise rewards. This is why Air Miles rewards are within your reach.
AEROPLAN
The Aeroplan Program is an incentive program for its frequent flyer customers who love to travel and go around the world. Fly and avail a lot of benefits depending on the membership you have gained form Aeroplan.
There are 4 levels of membership in Aeroplan: Basic, Prestige, Elite, and Super Elite; the latter three are the "Top Tier" membership levels. These Top Tier levels provide travel benefits such as upgrades, lounge access, priority services (e.g. check-in, luggage handling) and more. In order to qualify for one of the three Top Tier levels, the member must earn a certain number of "status miles" or fly a certain number of "status segments" in a given calendar year (thus qualifying that member for the next benefit year). Travel Credit Card Canada. Prestige members have Star Alliance Silver status while Elite and Super Elite members have Star Alliance Gold status. Flying frequently give you the fast pace of getting the top membership giving you unlimited benefits that Aeroplan can offer.
Join Aeroplan-and you'll bring yourself closer to getting where you want to go or living out what you've always wanted to experience. Today's Aeroplan is all about getting the most out of life-with a world of flexible travel options available. In fact, did you know that Aeroplan is Air Canada's largest reward ticket issuer, with a new trip booked approximately every 22 seconds? What's more, there are over 400 Aeroplan Rewards for you to choose from, such as gourmet getaways, electronics, entertainment, sports events, even spa packages. And Aeroplan continues to add new rewards all the time. Aeroplan is Canada's premier rewards program-for frequent flyers and credit card accumulators alike-backed by the best customer service agents in the business. That's what we mean by miles and possibilities.
After all, Aeroplan is the largest and most extensive frequent flyer program, and a leading loyalty program, in Canada. And we're always on the lookout to bring you even more ways to increase your miles and enjoy the benefits.
NO HASSLE REWARDS
Free from being rushed or being hassled by your purchases, bookings and reservations, Capital One offers everything hassle-free.
You’ve probably seen the commercials recently with a not-so-effective guardian angel trying to look after a person while they experience ongoing accidents and pain. But, when it really is important — as in when the person is about to use the wrong credit card to pay for something — the angel saves the day by ensuring the credit card cardholder uses their Capital One No Hassle Rewards Visa card.
Another Capital One No Hassle feature involves being able to redeem rewards earned on the card for more than just cash, including merchandise, gift certificates and free airline travel.
RANGE OF ANNUAL FEES
Annual fees are basically fees that are paid annually or per year. In the context of having credit cards, annual fees are obligatory amounts that are required by the credit card company for the credit card user to pay each year.
Annual fees vary from one credit card to another. Some companies charge as low as 25$ per year while other charge as high as 500%. You may wonder, “Why does other credit card companies charge as high as that while others don’t even have an annual fee to pay?”
Well, annual fees differ depending on the type of credit card that the user holds. If the credit card user has a credit card that has benefits such as travel rewards, insurances and memberships, then the annual fee of this credit card user is apparently higher than the one who is just using a basic low-interest credit card with limited benefits.
In some instances, annual fees can be waived according to the arrangement that has been set between the user and the credit card company.
For example, Capital One No Hassle Miles Rewards has no annual fee to be paid each year, whether the credit card was used or not. On the other hand, the Visa Black Card which has one of the most luxurious and most lavish benefits when travelling has an annual fee of $495.
RANGE OF ANNUAL INTEREST RATES
Annual Interest Rates, or otherwise known as APR (Annual Percentage Rates), are the fees that you will pay in interest charges every year. The amount that will be paid depends on the credit card’s APR and the existing balance in that account.
APR’s typically range from 3% to as high as 30%. For someone who has applied for a credit card the first time or someone who doesn’t have a good credit history, the APR in that card is relatively high. On the contrary, somebody with a good credit rating and is a good payer, is entitled to have a credit card with a low APR.
As mentioned, the annual interest rates can also depend on the account’s existing balance. For example, you have charged $100 on your credit card which has an APR of 15% and the minimum monthly payments were only $2 per month. However, with that APR and not paying the credit in full, it would take over a couple of years to settle your charges. And with the credit of only $100, after paying the entire term, you have reached paying them $150 in return. Now, don’t you think APR is very important in choosing your card?
SEE ALSO
http://www.canadian-money-advisor.ca/archives/2010/04/carry+a+balance.html
http://www.canadian-money-advisor.ca/archives/2010/04/best+capital+one+credit+cards+canada.html
http://www.canadian-money-advisor.ca/archives/2010/04/bad+credit+card+canada.html
References
http://creditcards.lovetoknow.com/What_Is_APR
http://en.wikipedia.org/wiki/Annual_percentage_rate
http://www.creditcardfinder.com.au/credit-card-travel-insurance-policies.html
Travel Credit Card Canada
