What is your favorite reward credit card?

[CapnCrunch]

Originally posted by trieuth


The dividend platinum from cibc is actually not that good. To get the 2% you have to spend a lot:

Tier one - 0.5% rebate on your first $3,000 in annual net card purchases
Tier two - 1% rebate on your next $12,000 in annual net card purchases (between $3,000 and $15,000)
Tier three - 1.5% rebate on your next $20,000 in annual net card purchases (between $15,000 and $35,000)
Tier four - 2% rebate on your next $15,000 in annual net card purchases (between $35,000 and $50,000)

and a 79 dollar annual fee.

I get 2% after $12000. I don't think you can get mine anymore.

[eblend]

When I was in London in March, in the airport they had the olympic store which only took Visa...thought that was lame. I signed up for the CIBC Aeroplan infinate visa just so that I could get my 15k singup aeroplan points (my wife did as well), but I used it once just to get the points and plan on canceling, or moving to a different free visa from them, as I would never pay a a fee to use a CC. Use MBNA for everything, but want to have Visa as a backup for travel.

Very interesting about the Amazon card, I think I am going to look into that, as I buy USD stuff all the time and have the exchange percentage the cards tag on.


Also, although Costco only takes Amex (their amex card sucks..I have it), their online system takes all major credit cards, so I just order my stuff online and get free shipping to my door and use my MBNA card to pay. If you ever want to return what you bought, just go into the store, and since they can't put money back onto the MC, they give put the money back into your chqeuing account or give it out as cash, done that a few times.

[flipstah]

Silly question but how much do you all normally spend monthly to justify these annual fees?

I spend about 1-2k/mth and my maths say that im at a loss. Unless im doing it wrong.

I've only had AeroGold so that is the reason for my vision.

[msommers]

I put everything I can on my CC. Even my TD MM home and auto insurance goes on there. Gas, groceries, bills from Telus, travel stuff, going out, clothes, online purchases... I don't know it just adds up lol. Even measly stuff that's less than $5 I'll put on there. Sucks Costco only takes AMEX or it would be even more.

I think the only time I carry cash is when someone owes me money or I'm out of the country.

[carson blocks]

Originally posted by flipstah
Silly question but how much do you all normally spend monthly to justify these annual fees?

$5-8k. It's mostly reimbursed work expenses, but like another poster said, I put everything on that card, or on my 1% cashback debit. I only pay cash at sketchy asian restaurants that don't take debit or visa.

Originally posted by flipstah
I spend about 1-2k/mth and my maths say that im at a loss. Unless im doing it wrong.

Even using a worst case scenario of $1k/mo ($12k/yr) and a flat cashback rate of 1%, that's $120 which will more than cover the fee on a crappy flat 1% cashback card.

[flipstah]

Originally posted by carson blocks


$5-8k. It's mostly reimbursed work expenses, but like another poster said, I put everything on that card, or on my 1% cashback debit. I only pay cash at sketchy asian restaurants that don't take debit or visa.



Even using a worst case scenario of $1k/mo ($12k/yr) and a flat cashback rate of 1%, that's $120 which will more than cover the fee on a crappy flat 1% cashback card.

For cash back, I can definitely get good return. I meant for point cards like Avion or Amex.

[shakalaka]

I use the Avion and I thought it was the best travel rewards card. I guess, according to that article, that is not the case.

[Jynx]

Its all about percentage of return on what you spend!

These are the 3 cards that I use (all with fees ranging between 100-150/year)

RBC Infinite Platinum Avion

Return percentage: 2-2.33% towards flights

Negatives: Have to book flights 2 weeks in advance; Good value is only for air travel. If you try to use it for rental cars/hotels you get less than 1% return on your expenses.

TD Infinite First Class

Return Percentage: 1.5% in travel dollars (can book anything travel related)

Benefit: Extreme flexibility in booking. Can book on any travel website, airline, car rental company, etc... and then be reimbursed after it posts on your bill. Perfect card for people who can't plan well in advance.

Negative: Only 1.5% return percentage

BMO World Elite ($150 annual fee)

Return Percentage: Roughly 1.9% (travel dollars)

Benefits: Free priority pass membership and 4 annual visits per year for you and a companion to airport lounges (free food, liquor etc...). Relative flexibility in booking, but must book through there BMO portal. It links up with websites like hotels.com etc... Only requirement is air has to be booked 24+ hours in advance which for most people is fine.

Don't underestimate the value of the free airport lounge visits. It makes traveling so much more enjoyable!


Overall if your primarily an air travel I feel RBC plat avion is best. If not the world elite is prob the best bet.

My $.02

[trevh]

Anyone else looking?

[chibwack]

I just grabbed an infinite avion (or was it platinum? the lesser level) and got 20,000 free points. The first year's fees are waived through company's group banking so I figured why not. Next year I might switch again to whatever's got the best points payout. I'll stick with RBC cards simply cause I like to keep all my banking together of course.
And I pay for everything but rent, insurance and most coffee's with it

[Feruk]

Heads up. MBNA Smart Cash benefits getting sliced effective December 1. Applies for existing holders too apparently. Guess I'll be switching to something else shortly.

http://www.moneyville.ca/blog/post/1...mart-cash-card

[JLau]

Originally posted by Feruk
Heads up. MBNA Smart Cash benefits getting sliced effective December 1. Applies for existing holders too apparently. Guess I'll be switching to something else shortly.

http://www.moneyville.ca/blog/post/1...mart-cash-card

That sucks, i guess it is what it is though...good thing i only use my smartcash for gas and groceries outside of costco...

[flipstah]

Originally posted by Feruk
Heads up. MBNA Smart Cash benefits getting sliced effective December 1. Applies for existing holders too apparently. Guess I'll be switching to something else shortly.

http://www.moneyville.ca/blog/post/1...mart-cash-card

Looks like I'll be switching to another card as my daily user. Probably switch my CIBC to the Infinite Aventura.

[JLau]

i always have 3 CCs, AMEX, VISA and MC, so no matter where i go, something is accepted lol...My daily car is visa infinite from TD though

[flipstah]

Originally posted by JLau
i always have 3 CCs, AMEX, VISA and MC, so no matter where i go, something is accepted lol...My daily car is visa infinite from TD though

Is the First Class Visa any good? My Blue Sky is pretty good.

[ee2k]

I have an Amex plat card I am giddy about:

- $499 annual fee
- 51000 Aeroplan miles within 3 months if I spend $1000 on it (otherwise 25000 the first time I use it)
- Executive checkin counter
- Air Canada Maple Leaf Lounge access whenever flying Star Alliance
- Some other worldwide lounge access
- Hertz car upgrades
- Buyer protection
- etc.

Worth mentioning 51000 miles give two transcontinental tickets on Star Alliance, or three regional flights to places like Vancouver, Seattle. Considering that it costs $700+ to go to the east coast, the fee is cheap for two flights.

It will be good to keep for one year.

Let me know if you want referral!

[eblend]

With the MBNA changes coming, I am also contemplating moving to a different card. I just looked online at their emall and there are some decent retailers that provide more than 3% cash back on additional things (iTunes for example) which would normally only be 1% is now 3% with the new program. Petsmart is like 7%, ofcourse all these are online only, but still, could be worth it to keep the card around should you use anything from their massive list.

Can anyone explain to me this part

•Two per cent cash back on gas and grocery purchases up to $400 a month thereafter;
•One per cent cash back for all other purchases up to $1,250 a month - including groceries and gas.

When they say "up to $400, or up to $1250"...do they mean that's the max reward you could get per month if you spend crazy on your card, or that only the first $400 on groceries and gas and $1250 on everything else gets some benefit, and anything more than that doesn't get anything at all?

[flipstah]

Originally posted by eblend
With the MBNA changes coming, I am also contemplating moving to a different card. I just looked online at their emall and there are some decent retailers that provide more than 3% cash back on additional things (iTunes for example) which would normally only be 1% is now 3% with the new program. Petsmart is like 7%, ofcourse all these are online only, but still, could be worth it to keep the card around should you use anything from their massive list.

Can anyone explain to me this part

•Two per cent cash back on gas and grocery purchases up to $400 a month thereafter;
•One per cent cash back for all other purchases up to $1,250 a month - including groceries and gas.

When they say "up to $400, or up to $1250"...do they mean that's the max reward you could get per month if you spend crazy on your card, or that only the first $400 on groceries and gas and $1250 on everything else gets some benefit, and anything more than that doesn't get anything at all?

Oh fuck, it's tier-based now.

[eblend]

Originally posted by flipstah


Oh fuck, it's tier-based now.

Okay did some reading, there is a big thread on rfd explaining all the changes and stuff.

If you have the platinum card, which is their basic card, you get your 2% on the first $400 only, after that its 1%....up until $1250....so really if you spend more than $1250 per month on your card in just general non grocery items....you won't be earning any cash back, which is uber lame.

If you are a Smart Cash WORLD member (the blue card...saws WORLD on it), then that $1250 limit does not apply and you will continue to earn 1% on everything other than groceries and gas, but gas and grocery limit will be up to $600 if I understand correctly vs $400 on the platinum version, after that its 1% again to infinity.

The world upgrade is free, just call them, but you have to have individual income over $60k or family over $100k to get the upgrade, once they upgrade you, you will enjoy 6 month of 5% on gas and groceries again, but on the first $400 (or $600...not sure on this) you spend that month.

Needless to say, I will not cancel my card as I still get the benefits being a world member, but I think I will move to the Capital One Aspire Cash World card and split my purchases between the two.

With MBNA I will continue to buy gas and groceries as I will get $2% back...and with Aspire I will use for everything else as its a flat 1%..BUT with 50% year end bonus, so really a 1.5% return on everything else, so it makes sense.

capital one aspire cash world shows the following benefits:

1% cash rewards on all net purchases
50% extra cash rewards every year
$100 bonus cash reward on your first purchase
No limit to the amount of cash you can earn
Add an authorized user for $0, and earn even more cash
World benefits including Travel Medical Insurance
No annual fee

Seems like a no brainer, get free $100 bucks. They reward system is different than MBNA as you have to call in or do online a request for credit to your account or a cheque, don't have any experience with this yet to know how this works.

Anyone have this capital one card and can tell me if they show preauthorizations on their web system? I love my MBNA card for this reason.

[Cos]

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