which credit card has the most bang for your buck?

[xttxt]

Just wanted to get an idea of some of the credit cards that people use which have incentives (ie. travel points, rewards, cash back). I currently have a CIBC Visa earning aeroplan miles and a BMO Mosaik MC earning Air Miles, I figure I should just use one or the other or try something new. I also signed up at points.com to consolidate all my reward programs.

I know its very much dependant on personal preference - whether you prefer to travel, get cashback, or buy material rewards with points, just want to get an idea of what other people are using.

So if members could please post which credit card is in YOUR wallet and why you prefer it.

[bg_27]

I have a TD Visa Gold Elite as my main card, I get 1% cash back (on EVERYTHING) every year, I prefer the 1% cash back over air miles, points, because I can spend it on what I want and not sit in some travel account saving up for a trip. I think the annual fee costs $120, but I have a TD bank account that waives that annual fee.

I look at it that I am saving 1% on the purchase, this was helpful with my car or other large purchases (10k+), etc.

Someone told me, which I haven't actually calulcated on my own, but most points, cash back, etc. cards all work out to around 1% rewards anyways, so why not get cash back.

[nobb]

I mostly use my credit card to buy online or electronics. For that reason, I chose to primarily use my CIBC Classic Visa because of the included extended warranty feature.

[Kloubek]

I'm kinda unsure what my GM Visa will provide me... if anything at all.

[Neil4Speed]

Originally posted by Kloubek
I'm kinda unsure what my GM Visa will provide me... if anything at all.

If you typically buy GM cars this card is probably one of the best returns points per dollar. But you obviously have to buy new GM cars, which unfortunately do not give you very good returns per dollar...

[aaronck]

I use the BMO Mastercard, and collect the airmiles but I'm not sure what for-I've cashed some in for pretty decent rewards that I can flip on Ebay, which is almost like cash back.


Previously, I had the Canadian Tire Optimum card, which was 5% cash back, double that at Canadian Tire and Marks Work Warehouse-now THAT was a card!

[Super_Geo]

Originally posted by aaronck
Previously, I had the Canadian Tire Optimum card, which was 5% cash back, double that at Canadian Tire and Marks Work Warehouse-now THAT was a card!

Really? That doesn't sound right...

You will typically never find 'rewards' >2% because that's the fee the credit card company charges to the merchant (~2% for Visa/MC, up to 3% for Amex). So even though it's giving you 1% back, 1-2% is still profit.

With 5% back, that means Canadian Tire would be losing 2-3% with every purchase you made... unless that was ONLY for Canadian Tire stores, but reading your post makes it sound like it was 10% back at CT and MWW?

[lint]

AmEx Gold, 2% Cash Back (tiered), no annual fee
MBNA Smart Cash MC, 1% Cash Back (non-tiered), 3% on groceries and gas, no annual fee
Citi EnRich Platinum, 1% Cash Back (non-tiered), no annual fee

[LongCity]

I have the BMO mosaic gold card - $90/yr. I get 1% cashback on all purchases, 1 airmile/$15 as opposed to the normal 1/$40, and double reward miles at shell. First time using the card you get 150 AM and 450 (or 400 can't remember) if in each of the first three months you spend at least $2000.

[2002civic]

I like my RBC avion, 120/year but you get 15000 point to sign up which is a free flight basically and 1$=1 point and you can fly with any airline anytime

[B4tMan]

Originally posted by bg_27
I have a TD Visa Gold Elite as my main card, I get 1% cash back (on EVERYTHING) every year
I have similar card from CITI , but has a maximum of 250 rebate a year.

I found out when I decided to buy the car on the CC - teir customer service informed that only 250 will be sent by check :P

[ExtraSlow]

If you are just going to sell your cards, why not cash in for gift cards?
You can get them for Shell, Home Depot and lots of other places that you probably shop at all the time.
That's like cash, and no hassle of selling them on ebay.

[Isaiah]

Originally posted by LongCity
I have the BMO mosaic gold card - $90/yr. I get 1% cashback on all purchases, 1 airmile/$15 as opposed to the normal 1/$40, and double reward miles at shell. First time using the card you get 150 AM and 450 (or 400 can't remember) if in each of the first three months you spend at least $2000.
I don't think you're getting both cashback AND airmiles. I'm using the card and it's either one or the other.

[LongCity]

Originally posted by Isaiah

I don't think you're getting both cashback AND airmiles. I'm using the card and it's either one or the other.

Yah you are because the premium card, which is $50 I think, you only get the cashback. We are paying $90 so we are getting more than just that, otherwise it's quite pointless.

[rc2002]

Originally posted by bg_27
I have a TD Visa Gold Elite as my main card, I get 1% cash back (on EVERYTHING) every year, I prefer the 1% cash back over air miles, points, because I can spend it on what I want and not sit in some travel account saving up for a trip. I think the annual fee costs $120, but I have a TD bank account that waives that annual fee.


That's what I have now. You also get the auto club included which means you get free towing and road side assistance for your vehicle anytime.



Originally posted by Kloubek
I'm kinda unsure what my GM Visa will provide me... if anything at all.

Although the rewards add up fast, you lose them if you don't use them within a certain amount of time. I got that card 10 years ago, racked up a bunch of reward dollars and never used them. When I cancelled that card last year there was almost no rewards left.



Originally posted by lint
AmEx Gold, 2% Cash Back (tiered), no annual fee
MBNA Smart Cash MC, 1% Cash Back (non-tiered), 3% on groceries and gas, no annual fee
Citi EnRich Platinum, 1% Cash Back (non-tiered), no annual fee

I was going to sign up for that MBNA smart cash MC because of your post. But then I read into the fine print, and 3% is only on the first $600 then it's 1%.

Seems bg_27 is right - most cards work out to around 1% at the end of the day.

[LongCity]

Originally posted by 2002civic
I like my RBC avion, 120/year but you get 15000 point to sign up which is a free flight basically and 1$=1 point and you can fly with any airline anytime

Wow WTF! You get an air mile for every dollar you spend?! And I thought 1/$15 was good. Maybe I should switch over. Any special requirements to get the card?

[LongCity]

Nm, I don't make $60k/year.

[aaronck]

It's true-it broke down like this

In a billing month, if you spend:
$3,000 or more you get 5%
$1500-2,999.99, you get 3%
$500-$1499.99, you get 1%
Less than $500, you get 0.5%

Putting daycare, all groceries, gas, essentially every household expense on the credit card-we hit 3k no problem between me and my wife-
It maxed out at $2000 cashback per year, and I think I got $1800.

[Enhance]

Originally posted by LongCity


Wow WTF! You get an air mile for every dollar you spend?! And I thought 1/$15 was good. Maybe I should switch over. Any special requirements to get the card?

RBC points =/ air miles

[LongCity]

Aren't they essentially the same thig though - You get to purchase things with them, correct?

[Enhance]

yup but the value of each point is different.. it takes way more rbc points to buy a flight then it takes airmiles, but they are easier to accumulate. The Avion card might have its own points though, im not positive.

[lint]

Originally posted by richardchan2002
I was going to sign up for that MBNA smart cash MC because of your post. But then I read into the fine print, and 3% is only on the first $600 then it's 1%.


I don't know if we use the same math, but 3% on the first $600 spent each month and then 1% thereafter >> flat 1% on the first $600 and then 1% thereafter

[LongCity]

Originally posted by Enhance
yup but the value of each point is different.. it takes way more rbc points to buy a flight then it takes airmiles, but they are easier to accumulate. The Avion card might have its own points though, im not positive.
Ooh k. Well, either way, I'm not pulling in $60k/yr to qualify for the card anyway.

[Super_Geo]

Originally posted by LongCity

Ooh k. Well, either way, I'm not pulling in $60k/yr to qualify for the card anyway.

You should go ask for a raise.

[ExtraSlow]

Originally posted by LongCity
Aren't they essentially the same thig though - You get to purchase things with them, correct?
Yeah, you use them for purchasing travel, gift cards and merchandise. the real difference between any reward program is how easy it is to redeem the ponits. I had air miles for a long time, and it was a huge hassle to book travel through them. they never had seats availible on flights I wanted. It always ended up that I'd have to fly different dates than I wanted. I always ended up getting gift cards from air miles, bcause the travel booking was so shitty.
RBS avion points, apparently, can be used for any seat on any airline, which is much better. I haven't booked with them yet.

Also, Don't worry too much about how many points you get per dollars spent. You may get 15x the points on RBC, but everything costs about 15x as many points, so you come out about even on that front.

[Isaiah]

Originally posted by LongCity


Yah you are because the premium card, which is $50 I think, you only get the cashback. We are paying $90 so we are getting more than just that, otherwise it's quite pointless.
Negative. The $90 fee entitles you to 1 airmile for every $15 spent as opposed to the other cards which are 1/$20 or 1/$40

http://www3.bmo.com/mosaik/perform_builder_toggle?CODE=7RSPF000080EN1225688400000&STATE=FALSE&&PREBUILT=PREADULTL&PUID=821&PAGETAB=CB_REWARDS#7RSPF000080EN1225688400000

[LongCity]

Originally posted by Super_Geo


You should go ask for a raise.

Good advice, thanks, man!

[Sugarphreak]

...

[rc2002]

Originally posted by lint


I don't know if we use the same math, but 3% on the first $600 spent each month and then 1% thereafter >> flat 1% on the first $600 and then 1% thereafter

My bad. I read it as the first $600/year. If you max it out each month, it's an extra $144/year more than a flat 1%.

Do you know how they decide which grocery stores qualify?

[06civic]

Originally posted by LongCity

Ooh k. Well, either way, I'm not pulling in $60k/yr to qualify for the card anyway.

The infinite Avion you need 60k/yr a regular avion you need 35k/yr. The only difference is that you dont get medical insurance and no bonus on flight purchase.

[jdmSiR]

I have a American Express Black Card, I love it, you should get one.

[lint]

Originally posted by richardchan2002


My bad. I read it as the first $600/year. If you max it out each month, it's an extra $144/year more than a flat 1%.

Do you know how they decide which grocery stores qualify?

Even if it was/year, that's still better than a flat rate.

They have a list of stores that are considered groceries. Superstore, Sobes, but not Walmart for example. I think you need to check with them to know for sure. Gas is any gas station I believe.

[szw]

Originally posted by lint


Even if it was/year, that's still better than a flat rate.

They have a list of stores that are considered groceries. Superstore, Sobes, but not Walmart for example. I think you need to check with them to know for sure. Gas is any gas station I believe.

Also for the first 6 months its 5% for gas/groceries. Pretty good deal to me especially how you can buy gift cards at superstore for home depot/bestbuy/futureshop/gap/whatever. I'm in the 6 month bonus period and its like an extra 5% discount on home depot/futureshop stuff.

Lots of grocery stores qualify, even T&T. No shoppers or walmart though.

[LongCity]

Friend said his costco credit card gave him 10% cash back anywhere. I thought this was a little absurd.

[bg_27]

Originally posted by LongCity
Friend said his costco credit card gave him 10% cash back anywhere. I thought this was a little absurd.

your friend is bullshitting or stupid

[w_man]

I have the RBC Avion ... its 15000 points for a short haul flight and 30000 points to fly anywhere in north america (some limitations). As mentioned above, you can book ANY flight you see on expedia. I will normally plan out my trip on Expedia and then call RBC, give them the exact flight details and they'll book it for me .. usually even slightly cheaper to them than expedia which is better since you are still paying taxes.

I also use ESSO for gas and have a speed pass ... the speed pass is connected to my ESSO points as well as this credit card ... every 2 esso extra point = 1 avion point ... since I get premium gas I get 2 esso extra points for every $1 i spend on gas ... which equals to a total of 2 avion points for every $1 spent on gas .. plus I try to pay for everything on my avion card.

I can easily get at least 1 'free' flight per year - which isn't bad at all I think.

[stevieo]

i use CIBC aerogold.

i got 15000 bonus aeropoints when I got this card. and same as w_man, i get my gas at esso. I use a speed pass which is connected to my credit card and also to my aeroplan account.

all gas/groceries dollars spent on my credit card equals 1.5 aeropoints and each dollar = 1 point for every other purchase.

i try to use my credit card for everything and just pay off my balance at the statement time. only time i use cash is for small $10 and under meals/snacks what not or places that take cash only.

[Mibz]

Originally posted by Isaiah

Negative. The $90 fee entitles you to 1 airmile for every $15 spent as opposed to the other cards which are 1/$20 or 1/$40

http://www3.bmo.com/mosaik/perform_builder_toggle?CODE=7RSPF000080EN1225688400000&STATE=FALSE&&PREBUILT=PREADULTL&PUID=821&PAGETAB=CB_REWARDS#7RSPF000080EN1225688400000 Indeed. It's one or the other, never both.

[flipstah]

I got suckered into those U of C Credit Cards because of free t-shirts but so far, I like it!

No monthly fees, I get payment holidays (but I still pay anyway because of interest) and right now, my interest rates are 12.99% and 14.99% for purchases and balances respectively (it's the lowest it can go according to the rep.)

My parents have the gold Mosaik and it has helped accumulate Air Miles, which my mom used to go to the Philippines. :thumbsup:

Sorry to go off topic, but is there any benefit of using Amex nowadays for $50-something a month? Besides the useless 'perks'?

[B4tMan]

Originally posted by LongCity
Friend said his costco credit card gave him 10% cash back anywhere. I thought this was a little absurd.
1.0% unfortunately :(

[AquamosH]

Shell BMO Card:

- 3% cash back at Shell, 1% everywhere else
- Can link to your Shell easy pay tag and earn Air Miles when you fill up (plus bonus miles once in a while)
- $50/year (I use it every time I fill up and other places, and it pays for itself)

[Amysicle]

Originally posted by ExtraSlow
Also, Don't worry too much about how many points you get per dollars spent. You may get 15x the points on RBC, but everything costs about 15x as many points, so you come out about even on that front. This.

I compared products that you could redeem from both Airmiles (BMO MasterCard) and RBC Avion Visa points (from the same brand and model of TVs, mixers, gift cards, etc.) and how many respective points it would take to redeem, and how much money you would have to spend on the credit cards my fiancé and I had to obtain the minimum amount of points/airmiles.

I found for big ticket items like washers & dryers, it was better to use your Avion points, but for smaller things like gift cards, entertainment and kitchen gadgets, it was usually cheaper overall using your Airmiles. The big screen TV ended up being equivalent in points/miles. For flights, I found it harder to compare because of the limitations in place but I would suggest Avion because it does seem easier.

I didn't take into account bonus points you could earn with Airmiles at Safeway, Sport Chek, Boston Pizza, Rona and Totem, etc. because you may or may not shop there but that is an advantage to earning more points faster. I think the Avion might have a higher annual fee.

[Majestic12]

Originally posted by AquamosH
Shell BMO Card:

- 3% cash back at Shell, 1% everywhere else
- Can link to your Shell easy pay tag and earn Air Miles when you fill up (plus bonus miles once in a while)
- $50/year (I use it every time I fill up and other places, and it pays for itself)

That sounds pretty crappy, to be honest with you... MBNA Smart Cash gives you 3% at *any* gas station, plus 3% for groceries too. And that's after the initial 6 months, which give you 5% on gas/groceries. Then you get 1% cash back on everything else on top of that.. AND there's no annual fee.

[LongCity]

Originally posted by Mibz
Indeed. It's one or the other, never both.

So other than the 1 air mile/$15, there is nothing more to the card other than double rewards at Shell gas stations?

[Recca168]

Kinda surprised no one else uses this.
citibank drivers edge Mastercard. Cash back goes towards the purchase of any car
2% back on everything
Maximum cash back $1000 per year
rewards from each year expire in 5 years.

so if you max this out its $5000 of a car every 5 years.

[topmade]

I was going to cancel my Citibank Mastercard, but they offered me 1.5% cashback with no minimum amounts and no fee so I kept it.

I also have a Crappy tire Mastercard and we apparently are in their top 5 or 10% of credit card users because we put everything on it to charge up between $2000 and $2500 per month so we get 1.5% cashback on everthing with no fees. And this is on top of the crappy tire money we accumulate that I'm just waiting to have enough for buy an ATV haha.

[Super_Geo]

Who else has had luck negotiating their cashback to 1.5%?

I wonder if TD will do it... maybe I gotta threaten to leave :angel:

[Super_Geo]

I have a MBNA Platinum Mastercard, signed up cause there was a 3.99% for 1 year promotion.

That was a couple of years ago... interest went back up to 19.99% and I barely used the card. Called them one day and said they're my highest interest credit card and if they didn't do better I'm going to cancel the card.

The rep offered me 1.99% for 1 year on cash or balance transfers. I accepted, took out all the cash I could and threw it towards my LOC (currently at 6%). There was a 1% processing fee, but on $10k, that one move saved me $300 in interest over the course of the next year :)

[topmade]

Originally posted by Super_Geo
Who else has had luck negotiating their cashback to 1.5%?

I wonder if TD will do it... maybe I gotta threaten to leave :angel:

Doesn't hurt to try. CIBC gave me the same offer and even some free money but I didn't want that many cards since I've had both cards for 10+ years with very little usage.

[Mibz]

Originally posted by LongCity


So other than the 1 air mile/$15, there is nothing more to the card other than double rewards at Shell gas stations? Incorrect. There are a ton of other benefits, but they're kind of standard between all credit cards. Things like travel protection, extended warranty, etc.

However you get a choice of either cheaper Air Mile or Cash Back as your "main" reward.

[Beerking]

I have been using the AMEX Platinum ($50/yr) for about 8 months now (swithced from Aeroplan AMEX b/c Aeroplan sucks balls).

Anyways, you are supposed to get 350 airmiles for first time use....I got 700:dunno:

And for every $15 you get 1 airmile, but when you shop at Safeway/shell/BP's or other places that take airmiles you get 1 airmile for every $10.

Since I shop a lot at Safeway and go gung hoe on their airmile deals, my points build fast (50 airmiles for two 12 rolls of toilet paper-always need tp!). Since January I have gotten 3500airmiles (and I do not spend that much money).

Althouh for all my work trips I go on, I put everything on the card (flights/hotel/meals) and it is like getting free miles since I get re-imbursed:thumbsup:

[Mibz]

Originally posted by Beerking
Since I shop a lot at Safeway and go gung hoe on their airmile deals, my points build fast (50 airmiles for two 12 rolls of toilet paper-always need tp!). Since January I have gotten 3500airmiles (and I do not spend that much money). Haha, I'm the same way, I'm such a sucker for those "Buy 4, get 70 Air Miles" deals.

[flipstah]

Originally posted by lint
AmEx Gold, 2% Cash Back (tiered), no annual fee
MBNA Smart Cash MC, 1% Cash Back (non-tiered), 3% on groceries and gas, no annual fee


Amex Gold has no annual? Holy crap! And thanks for letting me know about the MBNA Smart Cash! I called them up and asked to apply for it and if accepted, I can get 1.99% on balance transfers. :clap:

Hopefully they won't say no since I already have that UofC MBNA MC.

EDIT

Amex Gold has $130 Annual... :(

http://www212.americanexpress.com/dsmlive/dsm/int/ca/en/personal/chooseacard/allcards/goldcard/allthedetails_pr.do?vgnextoid=9593e452a54e4110VgnVCM100000cef4ad94RCRD&page=PR

[szw]

Originally posted by flipstah



Hopefully they won't say no since I already have that UofC MBNA MC.


Actually they can just convert your UofC MBNA into the smart cash card. Its even easier since they don't have to apply for a new card, they just change it. You don't get a "credit check hit" either when changing your card vs applying for a new one. My GF had a shoppers drug mart MBNA card and called to transfer it to the Smart Cash one and they just mailed a new card (I think it was even the same CC number).

[lint]

Originally posted by flipstah


Amex Gold has no annual? Holy crap! And thanks for letting me know about the MBNA Smart Cash! I called them up and asked to apply for it and if accepted, I can get 1.99% on balance transfers. :clap:

Hopefully they won't say no since I already have that UofC MBNA MC.

EDIT

Amex Gold has $130 Annual... :(

http://www212.americanexpress.com/dsmlive/dsm/int/ca/en/personal/chooseacard/allcards/goldcard/allthedetails_pr.do?vgnextoid=9593e452a54e4110VgnVCM100000cef4ad94RCRD&page=PR

The 2% cashback no annual fee amex gold card isn't offered anymore.

[flipstah]

Originally posted by szw


Actually they can just convert your UofC MBNA into the smart cash card. Its even easier since they don't have to apply for a new card, they just change it. You don't get a "credit check hit" either when changing your card vs applying for a new one. My GF had a shoppers drug mart MBNA card and called to transfer it to the Smart Cash one and they just mailed a new card (I think it was even the same CC number).

Well that's what I wanted to do but they mentioned that I wouldn't get the 1.99% interest on Balance Transfers and that's the only thing I'm looking for. Low interest for 10 months to eliminate me debt!

Woo!


Originally posted by lint

The 2% cashback no annual fee amex gold card isn't offered anymore.

Damn.

[assram]

MBNA SmartCash card here..

If you can't get approved because of a low income, get approved for ANY MBNA card, and then transfer it to the SmartCash Card. I've read people getting approved for a student card, then transferring over.

Once you have an MBNA card they allow you to get different cards, etc w/o doing another credit hit.

I have an MBNA with 0% Balance Transfer for 15 mths.
I had some credit on it, so I asked if I can lower my BT card, and open a Smart Cash card. no problem.

PROTIP. Since you can't get 3% (or 5% the first 6 mths) off Futureshop/Bestbuy/Home Depot, or other big purchase items. Go buy Giftcards for them at gas stations. Then go buy whatever.
5% off a 1000 laptop, or 1000 tv is an easy $50 bucks.

I mean 5% off T&T even? how can you go wrong.. haha. Only one I wish they had was Wally-mart

Here is a list of merchants for 3/5% off:

Merchant code 5411; Grocery Stores

A & P
Asian Food Center
Askew's Foods
Atlantic Wholesalers
Bidgoods
Brunos Fine FoodsBuy
Low Foods
Canada Safeway
Choices Market
Colemans Food Centre
CO-OPCooper's Foods
Country Grocer
Dominion
Extra Foods
Fairway Market
Farm Boy
Food Basics
Foodland
Fortinos
Grocery Gateway
Hannam Supermarket
Highland Farms
IGA
Kin's Farm Market
Les Aliments M&M
Loblaws
Loebs
Longo's
M & M Meat Shops
Maxi
Metro
Michael - Angelo's
Market
Moncion Grocers
NeedsNester's Market
No-Frills
Overwaitea Food
Pete's Frootique
Planet Organic
Powell's Supermarket
Presidents Choice
Price Chopper
Price Smart
Produce Depot
Provigo
Quality Foods
Quality Market
Rabba
Real Canadian Super Stores
Save EasySave On Foods
Shop Easy Foods
Shop 'N Save
Sobeys
Starsky Foods
Stongs Markets
Super CSuper Value
Supermarche - Metro
Superstore
T & T Supermarket
Thrifty Foods
Urban Fare
Valu Mart
Village Food Markets
Weston Produce
Your Independent Grocers
Zehrs


Merchant Code 5541/5542; Gas stations
7 - Eleven
Amco
Canadian Tire Gas Bars
Cango
Centex
Chevron
CO-OP Gas Bars
Couche Tard
Crevier
Drummond's Gas
Esso
Fas Gas
Flying J
Fortino's Gas Bars
Gale S Gas Bar
Gas Bar
Gasrite
Husky
Irving Oil
Loblaw Gas Bars
Macewen
Mac's Gas Bar
Mohawk
Mr. Gas
N. Atlantic Pet.
No Frills Gas Bar
Olco
Petrocan
Pioneer
Save On Foods Gas Bars
Scholten's
Shell
Short Stop Gas Bars
Sobey's Fast Fuel
Sunoco
Sunys
Super Save Gas
Superstore Gas Bar
Ultramar
Western Petroleum
Wilson Gas Stop
Yig Gas Bar
Zehrs Gas Bars

[HRD2PLZ]

I've been happy with my RBC Infinite Avion, its super easy to book trips and you can book any airline, anytime. Also, if you use the card to pay for travel, you get 1.5 Avion points for every dollar spent on travel.

[Zhariak]

Originally posted by xttxt
Just wanted to get an idea of some of the credit cards that people use which have incentives (ie. travel points, rewards, cash back). I currently have a CIBC Visa earning aeroplan miles and a BMO Mosaik MC earning Air Miles, I figure I should just use one or the other or try something new. I also signed up at points.com to consolidate all my reward programs.

I know its very much dependant on personal preference - whether you prefer to travel, get cashback, or buy material rewards with points, just want to get an idea of what other people are using.

So if members could please post which credit card is in YOUR wallet and why you prefer it.

American Express Platinum Charge

But different than a credit card, cuz it's a charge card (balance to be paid off immediately)... But the perks are amazing...

[GoChris]

I put everything on my mastercard and pay it off each month. Right now I have a BMO Airmiles Mastercard, 1/$15 but that's about it.

I think this smart cash looks better ya? I rarely cash in airmiles on flights cause I don't think it's really that good of a deal (still have to pay taxes).

[Mibz]

Originally posted by GoChris
I put everything on my mastercard and pay it off each month. Right now I have a BMO Airmiles Mastercard, 1/$15 but that's about it.

I think this smart cash looks better ya? I rarely cash in airmiles on flights cause I don't think it's really that good of a deal (still have to pay taxes). Yeah, we're saving our Air Miles for a UK trip this coming May and once we buy the tickets we'll calculate whether or not it was worth it. I have a strong feeling I'll be switching to a Cash Back card in a few months :P

[GoChris]

Originally posted by Mibz
Yeah, we're saving our Air Miles for a UK trip this coming May and once we buy the tickets we'll calculate whether or not it was worth it. I have a strong feeling I'll be switching to a Cash Back card in a few months :P

Well we just got back from Mexico recently, and for example, the total cost of the fights were just under $1k. And it was going to cost X airmiles for those flights. But I still had to pay $400 in taxes.

However, for those X airmiles, I could have used them for shell gas cards totaling about $1200 in gas when you added in the $400 (I think, or not added in...either way). So paying cash for me in that situation was a better deal.

So that's the reason I think I will phone these MBNA guys and get the card and stop using my BMO one.

[Mibz]

Well our tickets came to about $1100 each, $888 of which is covered by Air Miles. Each ticket is 4800 Air Miles (Mosaik MC and KLM Airlines) so that's 5.41 Air Miles per dollar saved. The Shell gas cards are 175 Air Miles for $20 so that's 8.75 Air Miles per dollar saved. At least I know my Air Miles are going to the right place.

Calculating whether cash back or Air Miles are better is going to be crazy hard since there are always bonus Air Miles for doing things I already do.

Do they just send you a cheque once or a year for the cash back?

[lint]

Originally posted by Mibz
Do they just send you a cheque once or a year for the cash back?

With the Smart Cash card, they send you a cheque when you hit $50

[assram]

Originally posted by lint


With the Smart Cash card, they send you a cheque when you hit $50

Not exactly true. You are paid every month in $50 denominations. Ex. If you earn $127 you will get $100 cheque this month and next month you start with $27 cashback.

[Zhariak]

I still stand by American Express.

$500.00 yearly fee for the Platinum Amex Charge Card
1.5 points per dollar spent
points are redeemable through amex, or you can convert to various airlines or hotel programs (aeroplan 1 for 1, delta, etc...)

Every year I get enough points for a few round trips to places where the airfare would be around 1000 bucks for return.

On top of that too, this year I got myself an Acer One netbook, 1000 bucks in Amex gift cards, plus converted the rest to aeroplan (enough for around 4 round trip flights to vegas)

On top of that, you can directly use your points with Amex for trips through Amex travel services (I think it`s 1,000 bucks for $100.00 towards traveling, be it hotel, airline, etc... and believe it or not, it works better than converting to aeroplan)

On top of that, fill up at Esso, and you also get aeroplan so in essence your double dipping which is awesome.

[flipstah]

Holy crap, Amex is hard to get approved by, even though I have a pristine credit history and pay more than the minimum balance.

However, I changed my MBNA UofC to a Smart Cash card :clap:

[Zhariak]

Originally posted by flipstah
Holy crap, Amex is hard to get approved by, even though I have a pristine credit history and pay more than the minimum balance.

However, I changed my MBNA UofC to a Smart Cash card :clap:

I have no idea how I got approved...

I love the card though, I swear by it... Only feature I havn't been able to use is the free companion flight tickets, and/or upgrades on international flights...

Once on my way to Vegas, I got drunk with a friend, and didn't realize we missed our flight by 4 hours. Then it turns out the flight was delayed... Unfortunately it boarded JUST as I could have used the "Delayed insurance" to pay for meals and drinks and stuff... haha

[xttxt]

Originally posted by flipstah
Holy crap, Amex is hard to get approved by, even though I have a pristine credit history and pay more than the minimum balance.

However, I changed my MBNA UofC to a Smart Cash card :clap:



Amex is hard to get approved because they usually have higher limits, I cancelled mine as I found that Amex isn't as widely accepted as Visa or MC - especially overseas and even a lot of Canadian vendors won't take Amex.

Cashback option sounds like the way to go ... but for now I'm sticking with my Aerogold. I'm living in HK for the next couple of months and only need 3500 more Aeroplan points for roundtrip from HK to Sydney.

I'm a sucker for rewards programs and was even contemplating on getting the RBC Cathay Pacific Platinum since I'm a now a new AsiaMiles member as I'll be flying with Cathay a lot more for the next couple of months. AND points can be transferred between AsiaMiles and Aeroplan via points.com...

[Isaiah]

Amex has gone from good to mediocre.

As of last year, they no longer offer low interest balance transfers, or balance transfers at all for that matter. Additionally, the customer service reps are pretty useless and direct you online for any inquiries or account services.

I barely use mine anymore, other than at Costco where that's the only card they take.

[flipstah]

Originally posted by xttxt

I'm a sucker for rewards programs and was even contemplating on getting the RBC Cathay Pacific Platinum since I'm a now a new AsiaMiles member as I'll be flying with Cathay a lot more for the next couple of months. AND points can be transferred between AsiaMiles and Aeroplan via points.com...

A $150 annual seems kinda steep but I like these:

- 5,000 Bonus Asia Miles upon enrollment

- Earn 1 Asia Mile Asia Mile for every $1 dollar (CAD) you spend on the card

- Double Asia Miles for each $1 CAD spent on Cathay Pacific tickets purchased online at www.cathaypacific.com Cathay Pacific

[Zhariak]

Originally posted by Isaiah
Amex has gone from good to mediocre.

As of last year, they no longer offer low interest balance transfers, or balance transfers at all for that matter. Additionally, the customer service reps are pretty useless and direct you online for any inquiries or account services.

I barely use mine anymore, other than at Costco where that's the only card they take.

I have 2 Amex credit cards.. Amex credit cards are as good as any typical credit cards...

The charge cards is where life gets nice :)

[Beerking]

Originally posted by Isaiah
Amex has gone from good to mediocre.

As of last year, they no longer offer low interest balance transfers, or balance transfers at all for that matter. Additionally, the customer service reps are pretty useless and direct you online for any inquiries or account services.

I barely use mine anymore, other than at Costco where that's the only card they take.

Never understood people and interest rates.

If you cannot afford it....DON'T BUT IT!!!!

:facepalm:

Never had a problem with their customer service, in fact they're great to deal with, understanding and take the time.

I use my AMEx almost everywhere. Pretty much the only places in Canada that don't take it are small independant fast food joints ( or Tim Hortons...but they don't even take VISA).

[Isaiah]

Originally posted by Beerking


Never understood people and interest rates.

If you cannot afford it....DON'T BUT IT!!!!

:facepalm:

Never had a problem with their customer service, in fact they're great to deal with, understanding and take the time.

I use my AMEx almost everywhere. Pretty much the only places in Canada that don't take it are small independant fast food joints ( or Tim Hortons...but they don't even take VISA).
Easy sporty, chill your bones down. In some cases, particularly small business scenarios, it's convenient to make large expenditures on a credit card to earn the points and then spread the payments out over a few months since transfer rates can be significantly lower than LOC rates and you also earn the points.

Do you understand now or are you still confused?

[Beerking]

Originally posted by Isaiah

Easy sporty, chill your bones down. In some cases, particularly small business scenarios, it's convenient to make large expenditures on a credit card to earn the points and then spread the payments out over a few months since transfer rates can be significantly lower than LOC rates and you also earn the points.

Do you understand now or are you still confused?

Sorry, did not mean to sound ignorant. Im refering to all the people with loads of credit card debt. Just boggles my mind.

[Sorath]

i like my td first class visa infinite.

1 dollar gives u 3 points.

others i was looking at when i was interested

bmo mastercard. gives u airmiles $15/1

so when i go to shell can get my gas tank filled up (60L) i think i get in total 7 airmiles.

cibc's aerogold is pretty much the same as td, except i can pay for my trip with the visa then claim the balance back through points.

best cash card out there i think is the atb mc, 3% cash back on daily items and 2% back on everything else. not a bad card.

[Neil4Speed]

Originally posted by Zhariak
I still stand by American Express.

$500.00 yearly fee for the Platinum Amex Charge Card
1.5 points per dollar spent
points are redeemable through amex, or you can convert to various airlines or hotel programs (aeroplan 1 for 1, delta, etc...)

Every year I get enough points for a few round trips to places where the airfare would be around 1000 bucks for return.

On top of that too, this year I got myself an Acer One netbook, 1000 bucks in Amex gift cards, plus converted the rest to aeroplan (enough for around 4 round trip flights to vegas)

On top of that, you can directly use your points with Amex for trips through Amex travel services (I think it`s 1,000 bucks for $100.00 towards traveling, be it hotel, airline, etc... and believe it or not, it works better than converting to aeroplan)

On top of that, fill up at Esso, and you also get aeroplan so in essence your double dipping which is awesome.

Flipstah, thanks for the recommendation on the Smart Cash, I have an old MBNA card hanging around and should convert it over.

I used to have the American Express Platinum, and switched over to the Aeroplan Platinum from Amex. Big regrets, I didn't really look over the decision and realized later that it is pretty much worse in every way (plus a higher annual fee), except for the fact that you can use Maple Leaf Lounges (keep in mind the normal plat allows lounge access to other lounges for free, which are just as good).

I havnt even looked at my point balance, but should consider redeeming some of that perk.

I also like the charge card format, really keeps my spending in good check. The customer service is great as well.

The companion tickets are kind of useless as they are severely limited to which airlines you can redeem from, I did a few trials and really it works out better to just buy tickets independently from orbitz or something.

I will be switching back to the Plat in the next couple of weeks.

While things like Airmiles are great perks if you are going to shop there anyways, they accumulate really slowly to be worthwhile without going for the bonus offers such as those offered from Safeway (but strictly the bonus offers with the fewest cents/mile ratio, because others may not be worth it as Safeway is typically overpriced compared to Superstores)

Good looking at this thread though, I have beem considering the Visa Infinite from TD and the Avion Infinite from Royal. This is a good thread for those of you interested in the same thing:

http://www.redflagdeals.com/forums/showthread.php?t=687422

[Criticull]

MBNA Smart Cash is awesome. The Amex 2% no fee one would be better, but I couldn't find it when I was looking into one. I'm not sure if they pulled that promotion because they got too overwhelmed with the RFD types?

[flipstah]

Originally posted by Criticull
MBNA Smart Cash is awesome. The Amex 2% no fee one would be better, but I couldn't find it when I was looking into one. I'm not sure if they pulled that promotion because they got too overwhelmed with the RFD types?

I was looking for that Amex card as well but when I called, they said that they do not offer it anymore. :(

[quazimoto]

I always get anywhere from $500 to $1,000 cash back yearly from AMEX. For the record they are a far better credit card company than either Visa or Mastercard. It doesn't have to do with low interest rates and crap like that. Their customer service though is leaps and bounds the best.

Many merchants will say they don't accept american express where in reality the vast majority of merchants are approved to accept american express, including myself. Many merchants don't want to accept Amex because the fees for amex cards are anywhere from 1% to 1.25% higher than visa and mastercard. Standard rates for taking visa and mastercard hover at 2.4% to 2.55%. Amex can be as high as 3.8%.

I did look into the air miles credit card. The points are great if you buy flights at full price and don't plan on getting seat sales. My flight to hawaii cost me $600 round trip per person. It's something like 6,000 miles round trip. It's just hard to justify the airmiles sometimes.