Comments on: Ask the Readers: Favorite Rewards Credit Card?

By: Dean

Dean — Tue, 16 Nov 2010 19:23:02 +0000

Sears Rewards are the worst. You get 1 point for every dollar you spend, but in order to get a 50 dollar (Sears) Gift Card you have have to redeem 5000 points. Saving 1% for spending 5000 dollers is not being very frugal imho. The worst thing is the points expire, and so do the gift cards!

By: harry

harry — Wed, 30 Sep 2009 15:34:31 +0000

Folks,
(thinking about ditching my Aerogold CIBC VISA) I came across this on-line discussion, in search of a better (meaning more aligned with my own real needs) card. I found it very interesting/quite enlighting. Great place to improve on my financial knowledge.
Up to one point though (a question) – which is related to the practicality/feasibility of continous hunting for the best card deal. Is it any problem when switching every so often (cancel, and aply for new) from one card/bank to another? I guess one’s personal credit rating may suffer, perhaps?

By: The Biz of Life

The Biz of Life — Wed, 26 Aug 2009 19:33:36 +0000

In the US, I use the Amex Blue Card for the cashback awards…. up to 5% on gas and groceries…. 1% on other purchases. Pay it off religiously every month. My annual cashback award is typically large enough to put a big dent in one month’s charges.

By: Gene

Gene — Wed, 26 Aug 2009 14:40:31 +0000

I use the Alberta Treasury Branch Platinum Rewards Card. It does have a $140.00 fee, but gives you 3% Cashback on Groceries, Gas, Drug Stores and Home improvement centres and 1% everywhere else. I covered my fee in the first 2.5 months and expect a possible net $1000.00 rebate check. I can hardly find it mentioned anywhere but thing it’s great. You can still use it and show your Aeroplan, Airmiles or such points card at the same places. I have linked it to my speedpass at Esso whereI can save an additional 1.5 cents per litre at certain stations as well as gaining Esso extra points on top of all that.

By: Zeno of Elea

Zeno of Elea — Mon, 01 Dec 2008 00:37:40 +0000

I used the CIBC Aeroplan Gold for years, but got sick of the poor value on flight redemptions. I could almost always find an alternative airline that was cheaper than the taxes and fees on the Air Canada redemption. The only good value was on Executive Class tickets.
I decided to skip airline rewards and stick to cash and staples. I’ve switched to the Amex Gold Cash Back (2% on purchases over 5k). For those places that don’t take Amex, I use the PC Mastercard as my backup.

By: What’s your favourite credit card? | Ellen Roseman

What’s your favourite credit card? | Ellen Roseman — Tue, 30 Sep 2008 03:16:29 +0000

[...] also found a useful discussion at Million Dollar Journey of cashback credit cards and reward credit cards with no fee. His favourite is the MBNA Starwood Preferred Guest credit card, described [...]

By: Michael Wood

Michael Wood — Thu, 11 Sep 2008 06:21:26 +0000

Re: AEROPLAN Points – one great way to “spend” these without having to pay the dreaded TAXES is to redeem for “GIFT CARDS”. I did some calculations with an AeroplanPlus Gold Amex Card, acquiring points at 1.25 points per dollar spent (w/ charter bonus etc) – and I figured these out to be pretty near to 1% “CASH BACK” or very near to it… with the same flexibility to use for Air Canada if/when it makes sense.

American Eagle, chapters, GAP, Linens n Things, Pier 1 – $50 for 6k points

Starbucks, body shop, Esso, HBC, Home Hardware, M&M Meat, Toys’r'Us – $50 for 6500 pts – not quite as good but close to 1% still

The list continues with $100 cards from banana republic, best western, birks, danier, long and Mcquaid, cadillac fairview, costco, future shop, yorkdale, and more. The points cost per card varies a little bit (the more flexible cards seem to be more expensive, in general). But surely something can be found that’s OK.

Another comment – buying electronics directly from Aeroplan seems STUPID – you’re far better off claiming a $250 Future Shop card for 31,000 miles, again nearly 1% cash back equivalent, rather than to buy the gear over aeroplan.com, they charge way more points per dollar value of the kit being claimed.

By: Gates VP

Gates VP — Tue, 17 Jun 2008 15:10:50 +0000

Hey nobleea;

I’ll have to double-check my files, but they’re not completely hosing us. They’re just changing it to 10% (or is it 20%) off all flights instead of just the WestJet deal.

Honestly, it may be a good compromise. B/c of the sheer popularity of the card I’ve had ridiculously difficult times getting any Air Miles flights actually booked on a Westjet plane. I kept having to defer to a more expense Air Canada flight b/c it didn’t matter how far in advance I booked.

Of course, for anyone getting off the Air Miles treadmill, don’t forget that they can be cashed in for gift cards as well. Great way to spend that left overs :)

By: nobleea

nobleea — Mon, 16 Jun 2008 16:47:53 +0000

FYI, for those of us with the BMO Westjet gold card, they are cancelling their collaboration. No more sweet 1600 air miles flights on Westjet. You have to book by Jul 31. I think flights have to be taken by Feb 09.

It’s ashame as that was the best rewards value for travellers (returning 2-3.5%).

I have one more flight to book using the 1600 airmiles deal and then I’ll be cancelling and going to another card.

By: paulette

paulette — Sun, 08 Jun 2008 05:08:07 +0000

I prefer HSBC Card because it has a good system. It mails statement of accounts 2 weeks before the cut off date.

By: NICHOLAS SEAN

NICHOLAS SEAN — Sun, 06 Apr 2008 02:42:07 +0000

I still have the RBC STARBUCKS visa.However,the card is rarely used for purchases.It is kept for Starbucks only.For
the time being,I am using the DESJARDINS visa.A gold card that has the optional 1% cash back.A $20.00 annual fee.The
money earned can be transferred to a DESJARDINS rrsp or can
be used to defray the bank fees.For the time being,the card
suits my needs.
The other day,I received a replacement card from PC Financial Mastercard.I had 15 days inwhich to activate the new card.I did not ask for a replacement card.The person with whom I had spoken with,did not answer my question concerning the reason for the card.The new card had a different expirory date.The account remained the same.I have not used this card for a while. The other month I realized the card is not worth using. In order to redeem the 20,000 points for the $20.00,it had dawned on me that I would have to charge $705.00 on the card to get that $20.00.

By: TJ

TJ — Sat, 05 Apr 2008 14:06:29 +0000

I loved the PC Financial Mastercard-until it dumped its travel rewards, without much notice. My wife and I got a trip to France with that card/plan. We still use it, almost exclusively-we buy groceries from September to December with the points earnedfrom the first eight months of the year.
I’d previously earned #3300 on my TD GM Visa which we used towards a new car back in ‘02. We still have that but use it sparingly.

By: Skippy

Skippy — Thu, 27 Mar 2008 19:49:55 +0000

Besides the Starwood Program, MBNA has an excellent Travel Rewards card. It comes with the same benefits and insurance (car rental, warranty extension etc.) as the SPG card, but has very rewarding travel benefits.
The annual fee is $89 and you can add supplementary cards.
You get 2000 bonus points a year and 1 point for every dollar that you spend.
The redemption works out like Aeroplan and is for flights only:
15,000 pts for neighbouring province, territory or state
25,000 pts for anywhere in North America
40,000 Canada, US, Carribean and Hawaii
60,000 Canada to South America, Central America and Europe
75,000 Canada to Asia, Middle East, Africa, Australia
the best part is that there are no blackout dates, no cap to the cost of the flight, and it will be with any airline flying the day you want to go.
I recently flew from Montreal to Aspen Colorado which cost me 25000 pts (about $22,500 in spending on the card after bonuses). Purchasing that same flight was $1050.
I had to pay taxes which came out to $140. I saved $900 on the flight. That was a return of 4%!! Aspen is an expensive place to fly, but I have also flown to Halifax and earned about 2.5% return on that flight.
What I really love about it is that it`s with any airline, so you are not stuck with the locations that WestJet goes to, or the limited flights that are offered for Aeroplan points.
Check out the MBNA Travel Rewards!!

By: NICHOLAS SEAN

NICHOLAS SEAN — Sun, 16 Sep 2007 20:48:34 +0000

I HAVE DECIDED TO REMAIN WITH THE RBC STARBUCKS VISA.I ENJOY GETTING THE STRANGE LOOKS FROM SALES
STAFF WHENEVER THE CARD IS USED.I HAVE JUST ENDED
A CALL WITH CUSTOMER CARE AT THE RBC VISA;THE STA
-TEMENT DATE WAS CHANGED. I WANTED A DATE OF MY
CHOOSING.AGAIN,I WAS TOLD IF THE STATEMENT DATE
ENDED ON A WEEK END DAY,THE STATEMENT WOULD THEN
END ON THE FOLLOWING FRIDAY.I DO NOT SEE THE LOG-
IC IN THIS.I WOULD LIKE TO MEET THE INDIVIDUAL WHO DREAMT THIS ONE UP.I HAVE BEEN ASKING AROUND
THE ROYAL BANK OF CANADA ( I HATE THE TERM “RBC”) APPEARS TO BE THE ONLY BANK WITH THIS PRACTISE.ALSO,IT IRKS ME TO LEARN,THE US VARIANT OF THE CARD IS REFERRED TO AS A “PLATINUM” CARD.WHAT IS SO SPECIAL ABOUT IT?MIND YOU,THE US VARIANT DOES ALLOW ONE TO RENT A
CAR AND THE COLLISION/DAMAGE WAIVER IS COVERED BY THE STARBUCKS CARD.AM I ASKING TOO MUCH FOR THE CANADIAN CARD TO HAVE THIS FEATURE AS WELL?
TOO BE CONTINUED……….

By: NICHOLAS SEAN

NICHOLAS SEAN — Sun, 02 Sep 2007 20:13:28 +0000

ANOTHER PROBLEM WITH THE CANADIAN TIRE MASTERCARD
CONCERNS THE EXTENDED WARRANTY AND THE 90 DAY LOSS/STOLEN FEATURE OF THE CARD.FOR WHATEVER REASON,CANADIAN TIRE EXPECTS ITS CARDHOLDERS TO PAY FOR THIS FEATURE;ROUGHLY $0.99 CENTS PER $100.00 CHARGED TO THE CARD.BANK ISSUED VISA AND
MASTERCARDS DO NOT CHARGE FOR THIS FEATURE.WHY SHOULD CANADIAN TIRE? I HAVE HAD SOME LOVELY ?CONVERSATIONS WITH THE CUSTOMER CARE DEPARTMENT OVER THIS ISSUE.THIS WAS THE REASON FOR ME SWITCHING TO THE RBC STARBUCKS VISA.BY THE WAY,AFTER RECEIVING THE RBC VISA,A TELEPHONE CALL WAS ISSUED TO CANADIAN TIRE MASTERCARD.THE CARD WAS CANCELLED AND BOY,I CERTAINLY DID GIVE THEM A PIECE OF MY MIND. TOO,BAD,BECAUSE THE CARD ITSELF IS ONE OF THE BETTER CARDS.ONCE A CHARGE HAS BEEN MADE,THE 1 % IS APPLIED IMMEDIATELY TO THE ACCOUNT,UNLIKE OTHER CASH REBATE CARDS,THE CANADIAN TIRE ALLOWS ONE TO REDEEM THE ACCUMULATED CASH IMMEDIATEDLY.NO MINIMUM REQUIRED NOR DOES ONE HAVE TO WAIT UNTIL THE END OF THE MONTH BEFORE THE MONTH’S CASHBACK IS CREDITED TO THE CARD. IN A SENSE,I AM DISHEARTENED TO HAVE CANCELLED THE CARD,BUT AFTER REALIZING,THE COMPANY WAS TREATING ME LIKE A FOOL,THEN SOMETHING HAD TO BE DONE.
BECAUSE I FEEL THE RBC IS GETTING GREEDY,I WILL BE RETURNING TO THE BANK OF MONTREAL MOSAIK CASH BACK MASTERCARD. NO PROBLEMS WITH THE CARD. KEEP IT SIMPLE!! AS FOR STARBUCKS,I STILL HAVE THEIR COFFEE CARD WHICH IS LINKED TO MY BANK OF MONTREAL MASTERCARD. THE AUTOLOAD FEATURE IS VERY PRACTICAL.

By: NICHOLAS SEAN

NICHOLAS SEAN — Sun, 02 Sep 2007 19:57:06 +0000

I ALSO HAD THE CANADIAN TIRE” MONEY ON THE CARD”
MASTER CARD.CANADIAN TIRE WOULD ALSO PLAY WITH MY STATEMENT DATE.I HAD NEGLECTED TO MENTION,THERE ARE TIMES WHEN I WOULD OVER PAY MY ACCOUNT.FOR INSTANCE ,IF THE BALANCE OWING,WAS $100.00 AND I KNEW I WOULD BE USING THE CARD OVER THE NEXT COUPLE OF DAYS,THEN I WOULD USUALLY MAKE THE PAYMENT FOR $200.00. PAYMENT WAS MADE TWICE A MONTH;USUALLY AFTER THE DAY MY PAYCHEQUE WAS DESPOSITED INTO MY ACCOUNT.I HAVE NEVER WAITED UNTIL THE STATEMENT ARRIVED BEFORE PAYING THE BILL.I THINK THIS COULD BE A REASON FOR THE BANK PLAYING WITH MY STATEMENT DATE. I HAVE READ ABOUT ANOTHER MAJOR BANK PUNISHING THEIR CARDHOLDERS WHO PAY THE BALANCE IN FULL EACH MONTH

By: NICHOLAS SEAN

NICHOLAS SEAN — Sun, 02 Sep 2007 19:47:47 +0000

I HAVE BEEN USING THE RBC STARBUCKS SINCE JUNE,2007.I AM HAPPY WITH THE CARD.HOWEVER,I HAVE NOTICED THE CANADIAN VERSION OF THE CARD DOES NOT HAVE THE COLLISION / DAMAGE WAIVER FEATURE WHEN RENTING A CAR.THE AMERICAN VERSION OF THE CARD ALLOWS ONE TO RENT A CAR AND SAVE A DOLLAR OR TWO ON CAR INSURANCE.ALSO,WHY IS THE AMERICAN CARD, REFERRED TO AS A “PLATINUM CARD?”
AT THE MOMENT,I HAVE A SLIGHT PROBLEM WITH THE ROYAL BANK OF CANADA. UNBEKNOWNST TO ME,THE STATEMENT DATE WAS CHANGED.THE BANK’S REASON FOR DOING SO WAS RELATED TO THE FACT THE USUAL STATEMENT DATE FELL ON A SUNDAY.THE BANK,DECIDED THE STATEMENT DATE WOULD BE ON THE FRIDAY.SINCE
WHEN DOES A BANK CARE WHEN THE STATEMENT DATE ENDS? I THINK I AM BEING PUNISHED FOR PAYING BY ACOUNT IN FULL EACH MONTH.

By: Fazooli

Fazooli — Sat, 18 Aug 2007 00:47:44 +0000

I use the Citibank Driver’s Edge Mastercard. No fee, and you get 2% of all your purchases back when someone in your household buys a car within 5 years of earning your rewards.

I used to use Dividend cards but didn’t like that I had to spend x per year before reaching the maximum % reward level.

By: Nick

Nick — Thu, 09 Aug 2007 12:52:50 +0000

TD Travel Visa – 1.5% return to use for travel. Travel must be booked through the TD Travel site which I would normally see as a downside but the site is actually really well designed (as is TD Easyweb – TD’s online banking) and the flights cost the same as booking direct from the airline (in my experience). Even better, I don’t have to go to each airline site to check all it fares.

Annual cost: $99. Right now you get 15,000 bonus points for signing up which will cover your first two years of fees at $99.

By: Top Cash Back Credit Cards in Canada | Million Dollar Journey

Top Cash Back Credit Cards in Canada | Million Dollar Journey — Thu, 09 Aug 2007 07:34:19 +0000

[...] amAdd comment After you guys gave me your favorite credit cards in my article "Ask the Readers: Favourite Rewards Credit Card?", I did a little research and came up with what I think are the best free cash back cards in [...]