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Travel credit card guide

Are Premium Travel Credit Cards Worth the Annual Fee?

A higher fee can pay for itself, but only if you use what it buys. Here is a simple way to check.

Updated 6 min read Travel credit cards Canada

By TripRadr Editorial

Start with what the fee buys

Annual fees on the cards we compare range from $0 to $799. The Amex Platinum, at $799, includes a $200 travel credit, a $200 dining credit, lounge access and broad insurance, while a card like the TD Aeroplan Visa Infinite at $139 offers a free checked bag for you and up to eight companions.

A five-step value check

Use your own numbers, not the issuer's best case.

  • Estimate your yearly spending in each bonus category and multiply by the earn rate.
  • Convert points to dollars with a cautious cents-per-point figure.
  • Add the benefits you would actually use, such as bags you would otherwise pay for.
  • Subtract the annual fee and any foreign transaction fees.
  • Compare the result with a no-fee card. If the gap is small, the simpler card wins.

Watch for credits that need a purchase

Travel and dining credits only help if you would spend that money anyway. A $200 credit you have to chase is worth less than $200. Check the conditions, such as which merchants count and whether the credit renews each year.

Who benefits most

Frequent travellers who fly the same airline, use lounges and check bags tend to recover a higher fee. Occasional travellers, and people who book mainly through one booking site, often come out ahead with a lower-fee card plus a standalone travel insurance policy when needed.

The cards in this guide

Facts come from each issuer's own pages and were last verified October 28, 2026. Confirm current terms with the issuer before you apply.

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TripRadr is not a lender, broker or financial adviser. This guide is general information, not financial advice. Rates, fees and benefits change, so confirm them with the issuer. See how we compare cards.