Canada’s Best Credit Card Travel Insurance for Seniors

Best Travel Insurance Credit Cards for Seniors

If you are a 65+ Canadian it’s difficult to find a travel credit card with emergency travel medical insurance. Of course, you will find some travel credit cards that provide 3 to 4 days of travel medical insurance after for those over the age of 65.

But if you are looking for more than a week, it’s something almost impossible to come by. Even the higher end $799 annual fee American Express card provides no travel medical insurance after the age of 65. What’s more, the emergency travel insurance benefits totally stop after age 75.   

In search of the best travel insurance credit for seniors in Canada, I came up with one that seems to be beating every other credit card on the market. The best senior-friendly travel credit card in Canada is:

 
HSBC World Elite Mastercard

With the HSBC World Elite Mastercard, those 65 years and older get an unmatched 21 days of emergency travel medical insurance and it also does not stop once you are 75.

There are some other credit cards I found that offer 7 to 15 days emergency travel medical insurance as mentioned below, but these do not provide anything after 75.

National Bank World Elite Mastercard (15 days)

National Bank World Mastercard (15 days)

Meridian Visa Infinite Travel Rewards Card (15 Days)

Desjardins Odyssey World Elite (15 Days)

CIBC Aerogold Visa Infinite Privilege (10 days)

National Bank Platinum Mastercard (10 Days)

Scotiabank Passport Visa Infinite (10 Days – May provide coverage after age 75, but read the pre-existing conditions terms and rules)

RBC Avion Visa Infinite Privilege (7 Days)

RBC British Airways Visa Infinite (7 Days)

As you can see, there are some emergency medical travel options for those over 65. However, before deciding on any cards, do your research and be mindful of the annual fees, terms and conditions, pre-existing conditions, and all other fine print.  

Canada’s Best 3 Cash-Back Credit Cards to Offset Sky-high Grocery Prices

Top 3 Cash Back Credit Cards in Canada

Grocery prices are skyrocketing and there is no sign they will come down anytime soon. To offset high grocery prices, I will give you the best 3 cash-back credit cards in Canada. Although these credit cards won’t lower grocery prices directly, the cash you will receive back will be significant and help you to cope with higher grocery costs.

I will concentrate only on the grocery cash back return in this article.

CIBC Dividend Visa Infinite – Provides 4% cash back. Annual fee is $120. This is the only card that offers cash-back redemptions anytime once you reach $25. If not redeemed monthly, cash back will be provided annually.

Scotia momentum Visa Infinite - Provides 4% cash back. Annual fee is $120. There is only an annual option to redeem your cash back.

American Express SimplyCash Preferred – Fees are charged monthly, but come close to $120 annually when you add them up. 4% cash back on groceries, but on everything else (except gas and groceries) the cash-back rate is 2% with no limit, making it the only card in Canada to provide this type of cash back.

Honorary Mention – BMO World Elite MasterCard - Provides 5% cash back on groceries (the highest in Canada), however the problem with this card is that there is a $500 monthly limit on groceries for 5% cash back.

I have a video on this topic which can be viewed here: How to Beat High Grocery Prices with These 3 Canada’s Best Cash Back Credit Cards

Canada’s Best No Foreign ATM Fee Bank Card Debit Card

Best No Foreign Transaction Fees Bank Card in Canada

I was looking for a Canadian bank card that charges no foreign currency transaction fee and no international ATM withdrawal fee. Then I came across the EQ Savings Plus Account.

EQ Bank offers a high-interest savings account, unlimited transactions, unlimited Interac e-Transfers, bill payments, and Electronic Funds Transfers. No minimum balance requirements, no separate accounts for savings/chequing … and all these are free.

All these sounded too good to be true, so I was hesitant. So, I read of few reviews online and contacted their customer support. At this point, I was certain that this was the real deal and I ended up opening an account.

I was only interested in the unique feature of EQ Bank’s no foreign currency ATM withdrawal fees and no foreign currency transaction fees. I have a one-month long trip coming up, so I needed to have a bank card that lets me withdraw from foreign ATMs.

The problem with taking out money from a foreign ATM with a Canadian bank card is that you will get hit 3 times with fees. Your Canadian bank’s ATM fee, a foreign currency transaction fee, and a foreign location’s ATM fee imposed by that ATM.

With an EQ Bank card debit card, I am removing my Canadian bank’s ATM fee and foreign currency transaction fee, which is a win-win situation and for all these benefits EQ Bank is not charging anything. 

I will keep a few hundred dollars (for security) to access via my EQ bank card when I am traveling and if I need more, I can always transfer more money from my regular bank.

I have a video about EQ Bank you can watch here:

The Best Canadian Bank Debit Card To Avoid International ATM Fees

2 Big Secrets Most Travel Credit Cards Are Hiding from You

What Your Travel Credit Cards Are Not Telling You

You can be paying a $700 Annual Fee for American Express Platinum, $250 for Amex Gold, $400 for TD, CIBC, RBC Visa Infinite Privilege (and many others), but what they don’t want you to know is that you will get dinged with 2.5% foreign currency transaction fee and some of these even don’t provide free lounge access.

For example, American Express Gold has a hefty $250 annual fee, but it even doesn’t provide free global lounge access. On paper, it looks like there are 4 free Plaza Premium Lounge Passes, but these free lounge passes are only applicable to Canadian airports.

The most important travel credit card feature all these cards don’t provide and are actually hiding from you is the foreign transaction fee. Every time you make a purchase in something other than Canadian currency, you will get charged a 2.5 percent foreign transaction (FX) fee.

However, there is one card with only a $140 annual fee that gives you both zero foreign currency transaction fees and 6 free global lounge accesses. Scotia Passport Visa Infinite is the only travel credit card on the Canadian market that offers both free global lounge access and zero foreign currency FX fees.

If you are reading this from another country, look for a travel credit card that offers zero foreign currency transaction fees and free global lounge access. These features should be the gold standard of any premium travel credit cards.

To view this article in video format, please visit this link: Secrets Travel Credit Cards Hiding From You

American Express Gold Canada Review (Non-Affiliated Real Review)

AmEx Gold Canada Review | Non-Affiliated & Unbiased Review

American Express Gold Canada is a popular travel credit card giving some travel perks and features to Canadians. AmEx Gold has a $250 annual fee (1st supplementary card is free), but there is an annual $100 travel credit when you book travel through American Rxpress website, making it $150 per year.

American Express Gold Canada offers most travel insurance you would expect from a premium credit card, including trip cancellation insurance, which many other premium Amex cards do not offer.

AmEx Gold Canada offers many perks and features, but 3 big features the AmEx Gold Canada card is missing are concierge service, no foreign transaction fee, and global lounge access free passes. Although, AmEx Gold Canada provides 4 Canadian Plaza Premium Lounge passes and a complimentary Priority Pass membership, but not free passes.

A distinctive feature AmEx Gold Canada has is that it’s made of metal, not plastic. 13 grams of stainless steel feels good in your hands and cold to the touch. Although the supplementary card is plastic, not metal. I ordered a supplementary card thinking it would be metal too but was disappointed when I found out it was plastic.

 American Express Gold Canada also provides 24-hour Travel Emergency Assistance, to help in finding hospitals, embassies, doctors and lawyers around the world. This service also provides you with key travel information, including details on visa and inoculation requirements, and much more.

Travel Emergency Assistance is specific to AmEx Gold Canada (and Platinum) and many other premium Amex cards, such as AmEx Cobalt or Marriott Bonvoy, do not offer this service.

Please visit this link to watch my American Express Gold Canada Review in video format.