It’s rare for anyone not to come across Visa. It’s one of the world’s largest payment processing networks. If you get a debit or a credit card, it’ll often run on this network.

Visa doesn't issue credit cards directly to Canadians. You can get one through a bank, retailer, or credit union. Several Visa credit cards are available, and each comes with unique perks.

Types of Visa Credit Cards

There are various personal Visa credit cards available in Canada. This includes no annual fee, student, cashback, travel, and balance transfer credit cards. They fall into the following five categories:

• Visa Classic – These basic Visa credit cards offer universal acceptance, reliability, and convenience. They often have low or no annual fees and few benefits, besides zero liability and lost or stolen card reporting. Visa Classic credit cards are ideal if you're new to credit cards or want to establish credit.
• Visa Gold – These credit cards are an improvement from Visa Classic. They have better perks, including insurance and emergency cash replacement.
• Visa Platinum – These credit cards have similar income requirements and perks as Visa Gold. The annual fees are often higher, though.
• Visa Infinite – These cards take rewards to another level, offering higher earn rates, comprehensive travel insurance, and exclusive perks.
• Visa Infinite Privilege – These premium credit cards typically include airport lounge access and a complimentary Priority Pass membership. To benefit from these rewards, you’ll often need a higher income. Also, you must be able to pay the high annual fee.

Visa Infinite Program

Credit cards affiliated with the Visa Infinite program give you access to great rewards and exclusive benefits. With a Visa Infinite credit card, you will benefit from:

• Visa Infinite Hotel Collection - this allows you to enjoy perks like complimentary breakfast and Wi-Fi, late checkout, and room upgrades.
• Visa Infinite Dining Series - gives you access to premium culinary experiences.
• Wine country – offers complimentary wine tastings and tours at wineries across British Columbia and Ontario.
• Complimentary concierge – enables seamless booking for travel, restaurants, and even to help you find the perfect birthday gift.

Visa Infinite Privilege credit cards have similar perks. However, you can enjoy airport lounge access through Priority Pass. Also, you’ll receive other great benefits at airports in Toronto, Ottawa, Vancouver, and Montreal.

Visa Partnerships

Visa has several partnerships with brands and companies. This includes Aeroplan, the loyalty program that's beloved by frequent travellers. CIBC and TD both offer Aeroplan Visa credit cards.

Pros and Cons of Visa Credit Cards

Visa credit cards are some of the best in the market. However, they have drawbacks. Consider the following pros and cons when shopping for a Visa credit card.

The Pros of Visa Credit Cards

• Universal acceptance. Visa credit cards are accepted in over 200 countries. Therefore, you can use your card wherever you see a Visa logo.
• Generous welcome offers. Compared to Mastercard credit cards, new cardholders' bonuses are pretty valuable.
• The annual fee is waived on most premium cards. Top-tier Visa infinite credit cards often have their annual fees waived for the first year.

The Cons of Visa Credit Cards

• High-income requirements and annual fees on premium cards. Given the great earning rates and superior perks of the premium Visa credit cards, a catch should be expected. You'll often need to have a generous salary to qualify for them. Also, the annual fees can be pretty high to sustain.