The average cost of a Canadian wedding is $30,717, according to a 2015 reader survey by Wedding Bells magazine. For some, that’s a small fortune, and it doesn’t even include the cost of your honeymoon.
Well, if you’re going to spend that much money on your big day, why not use one of the best travel rewards credit cards in Canada to help pay for your honeymoon? Seriously, if you used your credit cards effectively and responsibly, you could earn some big rewards. Here are three of our favourite credit cards and their reward programs that you should consider.
BMO World Elite MasterCard
You can earn 61,434 BMO Rewards points when you spend $30,7171 on your BMO World Elite MasterCard which is worth $614.34 in rewards. You also get a $200 sign up bonus, so if both partners apply for this card, that’s a total of $1,014.34 in potential rewards.
In addition, cardholders get VIP priority pass to Plaza Premium Lounges, so you can start your honeymoon as soon as you arrive at the airport. You’ll also get a comprehensive travel insurance package included, so you can travel stress free.
MBNA Rewards World Elite MasterCard
You can earn 61,434 MBNA Rewards points when you spend $30,7171 on your MBNA Rewards World Elite MasterCard which is worth $614.34 in rewards. After your first purchase, you’ll get 10,000 bonus points that has a value of $100. If both partners apply for this card, you’ll get a total of $814.34 in potential rewards.
Some travellers prefer the MBNA Rewards program because you get up to 9 months after your travel charges have been posted to make a claim. That means you can book your travel early and accumulate more points before making your claim.
Starwood Preferred Guest Credit Card from American Express
You can earn 30,717 Starpoints when you spend $30,717 on your Starwood Preferred Guest Credit Card from American Express, which is worth $684.99 in rewards. Cardholders also earn an additional 20,000 points after spending $500 which is an additional $446 in sign up bonuses. If both partners sign up for this card, that’s a total of $1,576.99 in total rewards.
Starpoints are appealing for a variety of reasons, not only can you claim hotels at Starwood hotels, you can also convert them to Marriott Rewards Points for even more hotel choices. The points are also extremely valuable in the sense that you can transfer them to many airlines, including Aeroplan/Air Canada, on a 1:1 basis.
Top Honeymoon Destinations
Paris – The City of Lights is one of the most romantic destinations in the world, so why wouldn’t you want to spend your honeymoon there? Make your way up the Eiffel Tower at dusk and watch the city light up as the sun sets. Want to see how royalty lived? Head to Versailles where you can walk through the Hall of Mirrors and wander through the gardens. Back in the city, you’ll find some of the best museums in the world including the Louvre and Musée d’Orsay.
Average round trip flight to Paris in low season: $700
Points required: 70,000 BMO Rewards points or MBNA Rewards points, 60,000 Aeroplan Miles
Bali – If you’re looking for a true getaway, how about Bali in Indonesia? It’s much more relaxed compared to Thailand and the costs are significantly lower than Bora Bora. Bali offers stunning landscapes, beautiful beaches, and some incredible temples. Nusa Dua Beach is where most of the all-inclusive resorts are, but head to Sanur Beach if you want something more upscale. You’ll find plenty of temples on the island, but the ones you won’t want to miss are Pura Besakih which is considered the holiest temple in Bali and Tirta Empul where you can bathe in the holy waters.
Average round trip flight to Bali in low season: $900
Points required: 90,000 BMO Rewards points, MBNA Rewards points, or Aeroplan miles
Jamaica – After spending more than $30,000 on your wedding, maybe a slightly more budget friendly destination for the honeymoon is the preferred choice. There are many excellent all-inclusive resorts in Montego Bay that won’t break the bank. Don’t worry, you don’t need to sit on the beach all week. In Jamaica you can go jungle river tubing, take a zipline canopy tour, go biking up the Blue Mountains and much more.
Average round trip flight to Jamaica in low season: $350
Points required: 35,000 BMO Rewards points or MBNA Rewards points, 40,000 Aeroplan miles
Our calculations assume that you charge all your wedding costs to your credit cards. Many of the sign up bonuses require a minimum spend within a set period of time, so that’s something to consider. Remember, credit card rewards are never worth it if you’re not paying off your full balance every month – the interest charges are just too much.
by Barry Choi for RateHub.ca
RateHub.ca is an independent website dedicated to connecting homebuyers and homeowners with Canada’s best mortgage rates and information. We have mortgage calculators and other tools to help consumers understand all of their mortgage financing options.