How Do These Premium Travel Cards Compare?
Premium travel credit cards deliver more than just points—they provide a complete package of benefits designed to make travel more rewarding and stress-free. The TD First Class Travel Visa Infinite and BMO World Elite Mastercard each approach this goal differently, with unique earning structures and redemption options that appeal to different types of travelers.
Both cards target Canadians who travel frequently and want to maximize their return on everyday spending. The TD card excels with its impressive earn rates through Expedia for TD, while the BMO card offers greater flexibility in how you book and redeem travel rewards. Understanding these fundamental differences helps determine which card aligns better with your travel habits and spending patterns.
Your ideal card choice depends largely on how you prefer to book travel, where you spend most frequently, and which additional benefits matter most to you. Many travelers find themselves drawn to one card based on specific features like accelerated points on dining or access to airport lounges, while others prioritize redemption flexibility or insurance coverage.
Rewards Structure: Points Earning Potential
The rewards structure represents one of the most significant differences between these premium cards. Each offers accelerated earning in specific categories, but with notably different approaches to maximizing your points.
TD First Class Travel Visa Infinite delivers exceptional earning potential through its tiered structure. Cardholders earn an impressive 8 TD Rewards points per dollar on travel booked through Expedia for TD, making it particularly valuable for those who don't mind using this specific booking platform. The card further rewards everyday spending with 6 points per dollar on groceries and dining, 4 points per dollar on recurring bills, and 2 points per dollar on all other purchases. These accelerated categories cover many common spending areas, creating opportunities to accumulate points quickly through regular purchases.
BMO World Elite Mastercard takes a slightly different approach with its rewards program. The card typically offers 5 points per dollar on travel purchases regardless of booking platform, providing greater flexibility for those who prefer booking directly with airlines or hotels. Cardholders also earn 3 points per dollar on dining, entertainment, and recurring bill payments, plus 1 point per dollar on all other purchases. While the base earning rate appears lower than TD's offering, the freedom to earn accelerated points without being tied to a specific booking portal appeals to many travelers.
Both cards implement spending caps on their accelerated earning categories, reverting to base rates once you exceed certain thresholds. This factor becomes important for high-volume spenders who might hit these limits during the year.
Redemption Options: Maximizing Point Value
The true value of any rewards program lies in how effectively you can redeem your accumulated points. Each card offers distinct redemption pathways that significantly impact the overall return on your spending.
TD Rewards points deliver their maximum value when redeemed through Expedia for TD. Points are typically valued at about 0.5 cents each (200 points = $1) when used this way, representing a solid return on spending. The program also offers a "Book Any Way" option for travel purchases outside Expedia, though this generally provides slightly lower value. Additional redemption options include merchandise, gift cards, and statement credits, but these alternatives typically offer considerably less value (often 0.23-0.25 cents per point), making travel redemptions the clear choice for maximizing returns.
BMO Rewards focuses on simplicity and flexibility in its redemption structure. Points can be redeemed for travel through BMO's portal or as statement credits at approximately 0.67 cents per point (150 points = $1). This straightforward approach means you'll receive consistent value regardless of how you book travel. The program also permits redemptions for cash back and merchandise, though these options typically provide lower returns compared to travel redemptions.
Your redemption preferences play a crucial role in determining which card delivers better value. TD's program rewards those willing to book through Expedia with higher potential returns, while BMO offers greater flexibility without sacrificing too much value for those who prefer booking directly with travel providers.
What Travel Benefits Come With Each Card?
Travel benefits extend far beyond points earning and redemption, encompassing insurance coverage, airport perks, and special offers that enhance your overall travel experience. Both cards provide impressive packages, though with different strengths that appeal to different traveler preferences.
Premium travel cards justify their annual fees through comprehensive benefits packages that provide both peace of mind and luxury touches. From emergency medical coverage to airport lounge access, these perks can save you money while making travel more comfortable and enjoyable.
The right combination of travel benefits depends on your specific needs and travel patterns. Frequent international travelers might prioritize robust medical coverage and lounge access, while occasional travelers might focus more on trip cancellation protection and car rental insurance.
Insurance Coverage: Protection When You Need It
Comprehensive travel insurance represents one of the most valuable benefits of premium credit cards, potentially saving thousands of dollars while providing peace of mind during your journeys.
TD First Class Travel Visa Infinite offers an impressive insurance package that covers most travel contingencies:
- Emergency medical coverage: Up to $2 million for 21 days, with limited coverage for travelers over 65
- Trip cancellation and interruption: Up to $1,500 for cancellation and $5,000 for interruption
- Flight and baggage delay: Coverage up to $500 for flight delays and $1,000 for baggage delays
- Rental car damage: Collision damage waiver for rental vehicles
The card also includes purchase protection and extended warranty coverage for everyday shopping, adding value beyond travel. Many cardholders appreciate TD's reputation for efficient claims processing and responsive customer service when dealing with insurance matters.
BMO World Elite Mastercard provides similarly robust insurance coverage with some notable differences:
- Emergency medical coverage: Comprehensive protection for travelers, including coverage for award ticket travel
- Trip cancellation and interruption: Protection against unexpected changes to your travel plans
- Flight and baggage delay: Compensation for delays that disrupt your journey
- Rental car theft and damage: Coverage for rental vehicles in most countries
A standout feature of BMO's insurance package is that it sometimes extends to travel booked with points from other loyalty programs, providing flexibility for those who accumulate rewards across multiple platforms. This distinction can be particularly valuable for travelers who frequently redeem points from airline or hotel loyalty programs.
Premium Perks: Elevating Your Travel Experience
Beyond insurance, premium travel cards offer exclusive perks that enhance comfort and convenience while traveling. These benefits often represent significant value that helps offset the annual fee.
TD First Class Travel Visa Infinite includes several notable perks that appeal to frequent travelers:
- Annual travel credit: $100 credit when booking eligible travel through Expedia for TD
- Visa Infinite Concierge: 24/7 assistance with travel arrangements, dining reservations, and entertainment bookings
- Visa Infinite Dining Series: Access to exclusive culinary events and restaurant experiences
- Hotel benefits: Special offers at select properties worldwide
The annual travel credit effectively reduces the card's net annual fee, while the concierge service provides valuable assistance for busy travelers. These benefits complement the card's strong rewards program to create a comprehensive travel package.
BMO World Elite Mastercard distinguishes itself with airport and lifestyle perks:
- Airport lounge access: Complimentary membership in Mastercard Travel Pass provided by DragonPass
- 24/7 concierge service: Assistance with travel planning, dining reservations, and special requests
- Exclusive offers: Special discounts and promotions with select partners
- Mastercard World Elite benefits: Additional perks through the Mastercard premium program
The included lounge access represents a significant advantage for frequent travelers who value comfort during airport layovers. This benefit alone can be worth hundreds of dollars annually for those who regularly use airport lounges.
How Do Fees and Requirements Compare?
Understanding the costs and eligibility requirements helps determine whether these premium cards align with your financial situation. Both cards impose similar fees and income requirements, though with some variations that might influence your decision.
Premium travel cards typically charge annual fees to support their extensive benefits packages. These fees should be evaluated against the potential value you'll receive from rewards and perks based on your spending habits and travel frequency.
Most premium cards also implement minimum income requirements to ensure cardholders can manage the higher credit limits typically associated with these products. Your current income and credit history will determine your eligibility for these cards.
Annual Fees and Foreign Transaction Costs
The direct costs associated with premium credit cards include annual fees and potential transaction fees that affect the overall value proposition.
TD First Class Travel Visa Infinite charges an annual fee of approximately $139, which is often waived for the first year through promotional offers. This fee positions the card in the mid-range of premium travel cards in Canada. The card also charges a 2.5% foreign transaction fee on purchases made in currencies other than Canadian dollars, which is standard for most Canadian credit cards but worth considering if you frequently travel internationally. When evaluating the annual fee, consider that the $100 annual travel credit effectively reduces the net cost to $39 for cardholders who use this benefit.
BMO World Elite Mastercard similarly charges an annual fee of around $150, with first-year waivers often available through special promotions. The card also applies a 2.5% foreign transaction fee on non-Canadian dollar purchases. Unlike the TD card, BMO doesn't offer an annual travel credit to offset this fee, though the included lounge access membership provides substantial value for frequent travelers who would otherwise pay for lounge access.
Neither card offers a foreign transaction fee waiver, which represents a potential additional cost for international travelers. Those who frequently make purchases in foreign currencies might want to consider this factor when calculating the total cost of card ownership.
Eligibility Requirements: Income and Credit Score
Premium credit cards typically implement stricter eligibility criteria than standard cards, reflecting their higher credit limits and enhanced benefits packages.
TD First Class Travel Visa Infinite requires:
- Personal income: Minimum $60,000 annual personal income
- Household income: Alternative qualification with $100,000 annual household income
- Credit score: Generally requires good to excellent credit (typically 660+)
- Canadian residency: Must be a Canadian resident with a Canadian credit file
These requirements position the card as accessible to middle and upper-income Canadians with established credit histories. The household income option provides flexibility for families where combined income meets the threshold even if individual incomes do not.
BMO World Elite Mastercard sets slightly higher thresholds:
- Personal income: Often requires $80,000 annual personal income
- Household income: Alternative qualification with $150,000 annual household income
- Credit score: Typically requires very good to excellent credit (usually 700+)
- Canadian residency: Must be a Canadian resident with a Canadian credit file
The higher income requirements reflect BMO's positioning of this card in the premium segment of the market. These thresholds may place the card out of reach for some consumers who might qualify for the TD offering.
Both cards require applicants to be of legal age in their province or territory of residence and maintain good standing with the issuing bank. Previous banking relationships with TD or BMO might positively influence approval decisions in borderline cases.
Which Card Delivers Better Overall Value?
Determining which card provides superior value requires analyzing how each card's features align with your specific spending patterns, travel habits, and preferences. The "best" card varies significantly based on individual circumstances and priorities.
Value assessment should consider both quantitative factors (points earning, redemption rates, fees) and qualitative elements (convenience, flexibility, specific benefits that matter to you). A comprehensive evaluation helps ensure you select the card that maximizes your personal return.
Different travelers will naturally prioritize different aspects of these cards. Someone who values simplicity and flexibility might prefer BMO's straightforward approach, while those seeking maximum returns through strategic redemptions might favor TD's higher potential earning rates.
Spending Pattern Analysis: Finding Your Fit
Your typical spending distribution across categories significantly impacts which card will generate more rewards value for your specific situation.
TD First Class Travel Visa Infinite delivers exceptional value for cardholders who:
- Regularly book travel through Expedia for TD to capitalize on the 8x points multiplier
- Spend heavily on groceries and dining to benefit from the 6x points category
- Have substantial recurring bill payments that earn 4x points
- Value maximizing points through strategic redemptions, even if that means using specific booking channels
The card's tiered earning structure rewards those willing to concentrate spending in bonus categories and book travel through the designated portal. For example, someone spending $10,000 annually through Expedia for TD would earn 80,000 points (worth approximately $400 when redeemed optimally), representing a 4% return on that spending alone.
BMO World Elite Mastercard better serves cardholders who:
- Prefer booking travel directly with providers rather than through bank portals
- Value airport lounge access during their travels
- Appreciate straightforward redemption options without complex maximization strategies
- Spend moderately across various categories rather than concentrating in specific areas
The card's more balanced approach appeals to those seeking simplicity and flexibility without sacrificing too much value. Its consistent earning and redemption structure requires less strategic planning to extract good value from the program.
Welcome Bonuses and Long-Term Value
Initial welcome offers can significantly impact first-year value, while ongoing benefits determine long-term satisfaction with your card choice.
TD First Class Travel Visa Infinite frequently offers generous welcome bonuses:
- First-year annual fee waiver (saving $139)
- Substantial points bonuses (often up to 135,000 points worth approximately $675 in travel value)
- Accelerated earning on initial spending to boost your rewards balance quickly
- Additional limited-time category multipliers during promotional periods
These welcome incentives can deliver exceptional first-year value, potentially exceeding $800 when combined with the annual fee waiver. However, long-term value depends more on your ongoing spending patterns and how effectively you utilize the card's benefits.
BMO World Elite Mastercard typically provides competitive welcome offers:
- First-year annual fee waiver (saving $150)
- Points bonuses that vary with promotional cycles (often worth $300-400 in travel value)
- Immediate access to lounge benefits and insurance coverage
- Special partner offers that enhance initial value
While BMO's welcome bonuses might appear less generous on paper, the included lounge access provides ongoing value that compounds with each airport visit. For frequent travelers who would otherwise pay for lounge access, this benefit represents substantial recurring value.
When evaluating long-term value, consider how your travel and spending habits might evolve over time. The card that aligns better with your anticipated future patterns may provide superior value despite a less attractive initial bonus.
How To Choose Your Ideal Premium Travel Card
Selecting between these premium travel cards requires honest assessment of your priorities, spending habits, and travel preferences. The right choice depends on your individual circumstances rather than any universal recommendation.
Your decision should reflect both objective factors (like mathematical return on spending) and subjective elements (like convenience and specific benefits you value). Taking time to thoroughly evaluate both cards against your personal situation helps ensure long-term satisfaction with your choice.
Remember that credit cards represent financial tools that should serve your specific needs and preferences. The "best" card varies widely based on individual circumstances, making personal assessment crucial to finding your ideal match.
Key Decision Factors: What Matters Most
Several critical factors should guide your decision between these premium travel cards, with different elements carrying varying weight based on your priorities.
Consider these essential decision factors when making your choice:
- Booking preferences: TD rewards Expedia bookings while BMO offers flexibility across platforms
- Spending distribution: Analyze where you spend most to determine which card's categories align better
- Redemption style: Consider whether you prefer maximizing value through specific channels or prioritize simplicity
- Travel frequency: More frequent travelers may derive greater value from lounge access and comprehensive insurance
- Income qualification: Ensure you meet the minimum requirements for your preferred card
Your honest assessment of these factors helps narrow your decision. For example, if you strongly prefer booking directly with airlines or hotels rather than through bank portals, BMO's approach might better suit your style despite potentially lower maximum returns.
The ideal card matches not just your spending patterns but also your preferences and habits. Someone who values simplicity and dislikes managing complex rewards strategies might prefer BMO's straightforward approach, while optimization-minded travelers might extract greater value from TD's tiered structure.
Practical Application: Maximizing Card Benefits
Whichever card you choose, implementing specific strategies helps ensure you extract maximum value from your premium travel card.
Follow these practical approaches to optimize your card benefits:
- Concentrate spending in bonus categories whenever possible to accelerate points accumulation
- Set up recurring bills and subscriptions on your card to capture points on these regular payments
- Always pay your balance in full each month to avoid interest charges that quickly erode rewards value
- Review your insurance coverage before trips to understand what's protected and what might need supplemental coverage
- Track promotional offers and limited-time bonuses to capture additional value throughout the year
With the TD First Class Travel Visa Infinite, prioritize booking travel through Expedia for TD to capture the 8x points multiplier. Remember to use your annual $100 travel credit before it expires, and consider timing large purchases to coincide with promotional bonus periods.
For BMO World Elite Mastercard holders, leverage your included lounge access during airport layovers and delays. Familiarize yourself with the card's insurance coverage details, particularly for trips booked with points from other loyalty programs, where BMO often provides an advantage over competitors.
Maximize Your Travel Rewards Today
Choosing between the TD First Class Travel Visa Infinite and BMO World Elite Mastercard ultimately comes down to aligning card features with your personal preferences and spending habits. Both cards offer compelling packages for frequent travelers, with distinct advantages that appeal to different types of cardholders.
The TD card excels for those who value maximizing points through strategic spending and redemptions, particularly when booking through Expedia for TD. Its impressive earning rates on everyday categories like dining and groceries can generate substantial rewards for those willing to concentrate spending accordingly. The annual travel credit further enhances value, effectively reducing the net annual fee.
BMO's offering stands out for travelers who prioritize flexibility, simplicity, and premium perks like airport lounge access. Its straightforward earning and redemption structure requires less strategic planning while still delivering solid value. The included lounge membership represents significant value for frequent travelers who appreciate comfort during airport stays.
Consider applying for your chosen card before planning your next major trip to capitalize on welcome bonuses and begin accumulating rewards immediately. With either option, you'll enjoy comprehensive travel protection and opportunities to earn valuable rewards on both everyday spending and travel purchases. Your journey toward more rewarding travel experiences begins with selecting the card that best complements your unique travel style and financial habits.
