Absolutely. Travel enthusiasts will enjoy having a travel rewards credit card. You'll get a great sign-up bonus for most cards, but you'll also get insurance coverage. Some travel rewards credit cards also come with exclusive perks that will have you travelling in style.

Every dollar you spend earns you points or miles. Say, for instance, a card earns you 2 miles for every dollar you spend on groceries. If you spend $200, then you’ll earn 400 points. You can then redeem your points for travel-related purchases like hotels and airfare. Some credit card providers even allow you to redeem points for non-travel-related purchases, like statement credits.

Each card company has their own requirements. However, some requirements overlap. You will often need a credit score of 660 or higher. You must also be a Canadian resident and the age of majority in your province. Also, some credit card providers set income requirements, either personal or household.

Most have an annual fee. The reason is, they provide lucrative rewards.