To help you choose an Air Miles credit card, we’ve put together a list of the best Air Miles credit cards in Canada. Below, you’ll find our list of top-rated credit cards along with details on how we determined the best Air Miles credit card.
With an Air Miles credit card, you can earn up to 1 Mile for every $10 you spend. Plus, Air Miles credit cards in Canada offer more than just Air Miles rewards. Many also provide:
Air Miles Canada is a loyalty program that allows members to earn and redeem “Miles”. Air Miles was established in 1992 and is well known across the country.
Miles can be collected in two ways:
Air Miles began as a travel loyalty program but has since expanded. Cardholders can now redeem Miles for any of the following:
Air Miles are divided into two main categories:
When earning Miles, you can choose to collect only Cash Rewards, only Dream Rewards, or both.
Rewards of one kind cannot be exchanged for rewards of another kind. In other words, a Dream Reward can only be redeemed for a Dream Reward and a Cash Reward for a Cash Reward.
Only select stores participate in the Air Miles loyalty program. Therefore, be sure to choose shopping locations carefully to get the most out of your Air Miles rewards.
There are over 100 merchants that participate in the Air Miles program. Popular service providers and stores that accept Air Miles in Canada include:
When choosing an Air Miles credit card, there is much to consider. To find the best Air Miles credit cards, we’ve taken a closer look at the following:
These elements differ between Air Miles credit cards. So, be sure to determine which aspects are most important to you. Then, choose a card that offers those features.
Welcome bonuses can get you started on the right foot when it comes to Air Miles credit cards. For example, receiving welcome Miles can help you get one step closer to your dream vacation.
Some of the most common welcome bonuses offered by Air Miles credit card issuers include:
One of the most important things to consider when choosing an Air Miles credit card is the card’s earn rate. Finding an Air Miles credit card with the greatest earn rate will help you reap the most benefits and realize rewards sooner.
Air Miles credit cards vary in their earn rates. The earn rates most frequently offered are:
In addition to helping you earn more Miles, Air Miles credit cards are often accompanied by other benefits. To get the most out of an Air Miles credit card, review these added benefits before applying. Then, select the card that offers the most attractive perks.
Some added benefits you may come across with Air Miles credit cards include:
If you plan to carry a balance, it’s important to note the interest rate of each Air Miles credit card. The best Air Miles credit card, in this case, will be the one with the lowest interest rate.
Remember, there may be a low introductory interest rate. However, this low rate will increase after the promotional period ends (e.g. 9 months). For this reason, make sure you look at both the introductory APR and the regular APR.
Air Miles credit card interest rates can range from 1.99% to 20.99%. Typically, lower rates will only be promotional.
There’s nothing wrong with paying an annual fee on a credit card. Often paying an annual fee will get you added perks and benefits.
However, it’s important to weigh the pros and cons. If a credit card charges an annual fee and doesn’t offer much more than a $0 annual fee card, then it’s probably not worth it.
Look for an Air Miles credit card that offers the best balance for you. If there’s an annual fee, (and you can afford it) and the card offers great perks - go for it! If the fee is high and the perks don’t pique your interest then choose a $0 annual fee card.
In Canada, there are some Air Miles credit cards with income requirements.
Most often, these credit cards offer bonuses and perks. These benefits are a cost to the credit card issuer. Therefore, the issuer requires a certain annual income. The idea is that the more you make the more you spend. So, by creating an income requirement, the card issuer can ensure the cardholder uses the credit card regularly. This frequent use helps the card issuer regain their costs.
If an Air Miles credit card has an income requirement, it will likely be one of the following:
Before applying for an Air Miles credit card, make sure that you meet any minimum income requirements.
Insurance benefits are a great credit card feature to have.
There are a few common types of insurance that come with credit cards in Canada including:
Ensure you read the fine print and choose an Air Miles credit card that offers the best insurance possible. You never know when insurance might get you out of a sticky situation and save you money.
Here are some tips for earning the most Miles possible:
Emma is responsible for all content on Creditcards360.ca. She has a college degree in economics and a keen interest in personal finance. Get in touch with her by email.