Comments on: Top No Fee Rewards Credit Cards in Canada http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm Building Wealth through Saving and Investing Sun, 14 Mar 2010 19:45:44 -0400 http://wordpress.org/?v=abc hourly 1 By: Brian http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-111399 Brian Sun, 07 Mar 2010 07:02:22 +0000 http://www.milliondollarjourney.com/?p=535#comment-111399 In response to #14Cannon_fodder, Canadain banks can issue both mastercard and Visa. Goto RBC Visa, they issue Visa and also WestJet Mastercard reward card. In response to #14Cannon_fodder, Canadain banks can issue both mastercard and Visa. Goto RBC Visa, they issue Visa and also WestJet Mastercard reward card.

]]> By: FrugalTrader http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-111332 FrugalTrader Wed, 03 Mar 2010 16:30:57 +0000 http://www.milliondollarjourney.com/?p=535#comment-111332 Steve, the full details of the travel rewards card hasn't not been released. I will write something when it comes available though. Steve, the full details of the travel rewards card hasn’t not been released. I will write something when it comes available though.

]]> By: Steve http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-111325 Steve Wed, 03 Mar 2010 12:17:44 +0000 http://www.milliondollarjourney.com/?p=535#comment-111325 Can you comment on the new MBNA Travel Rewards card? It looks to me like the redemption rate is around the 2% range! Can you comment on the new MBNA Travel Rewards card? It looks to me like the redemption rate is around the 2% range!

]]> By: Mo http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-111283 Mo Sun, 28 Feb 2010 17:15:13 +0000 http://www.milliondollarjourney.com/?p=535#comment-111283 According to their website, point on Miles Platinum MasterCard® can only be used for flights, not hotels, etc. I was just in touch with Capital One via their chat feature (which I am convinced was a bot and not a human, as advertised) and they told me the same thing: airlines, cash, merchandise. According to their website, point on Miles Platinum MasterCard® can only be used for flights, not hotels, etc. I was just in touch with Capital One via their chat feature (which I am convinced was a bot and not a human, as advertised) and they told me the same thing: airlines, cash, merchandise.

]]> By: Elbyron http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-110821 Elbyron Tue, 16 Feb 2010 17:51:45 +0000 http://www.milliondollarjourney.com/?p=535#comment-110821 Al, The Driver's Edge card now has a $59 annual fee. Perhaps you buy 3 cars per decade, but not everyone upgrades so frequently. One drawback to this card is that your earned points expire 7 years from the calendar year in which they were earned (I think it used to be only 5 years). Most people will probably buy a vehicle in the next 7 years, but if you're not planning to, then this isn't the card for you. Also, I think they have now eliminated the $500 max, which was a big drawback for those who spend over $25,000/year. It is definately one of the best annual fee rewards cards out there. I rank it #2 behind the Capital One Miles Plus card (same as above but with 2% return; the additional 1% pays for the $99 fee if you spend over $9900). The only reason I like the Capital One card more is that I travel a lot more frequently than I buy cars, and I don't like waiting several years to redeem the rewards of my card. Al,
The Driver’s Edge card now has a $59 annual fee. Perhaps you buy 3 cars per decade, but not everyone upgrades so frequently. One drawback to this card is that your earned points expire 7 years from the calendar year in which they were earned (I think it used to be only 5 years). Most people will probably buy a vehicle in the next 7 years, but if you’re not planning to, then this isn’t the card for you. Also, I think they have now eliminated the $500 max, which was a big drawback for those who spend over $25,000/year.
It is definately one of the best annual fee rewards cards out there. I rank it #2 behind the Capital One Miles Plus card (same as above but with 2% return; the additional 1% pays for the $99 fee if you spend over $9900). The only reason I like the Capital One card more is that I travel a lot more frequently than I buy cars, and I don’t like waiting several years to redeem the rewards of my card.

]]> By: Al http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-110731 Al Sat, 13 Feb 2010 18:32:32 +0000 http://www.milliondollarjourney.com/?p=535#comment-110731 I've got to go with the Citibank Drivers Edge card. 2% on all of your purchases on any car, new or used. I've cashed in almost $5000 on three cars over the decade. There is a max of $500 a year I think. Everyone buys cars. It was free for the last 10+ years but they may have added a fee recently. Still blows the rest away. I’ve got to go with the Citibank Drivers Edge card. 2% on all of your purchases on any car, new or used. I’ve cashed in almost $5000 on three cars over the decade. There is a max of $500 a year I think. Everyone buys cars. It was free for the last 10+ years but they may have added a fee recently. Still blows the rest away.

]]> By: FrugalTrader http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-110729 FrugalTrader Sat, 13 Feb 2010 16:13:59 +0000 http://www.milliondollarjourney.com/?p=535#comment-110729 Hey BK, this is the rewards credit card post, the smart cash is cash back only. Here is my post on the <a href="http://www.milliondollarjourney.com/mbna-smart-cash-credit-card-the-new-cash-back-king.htm" rel="nofollow">smart cash card</a>. Hey BK, this is the rewards credit card post, the smart cash is cash back only. Here is my post on the smart cash card.

]]> By: Mike http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-110717 Mike Fri, 12 Feb 2010 20:47:39 +0000 http://www.milliondollarjourney.com/?p=535#comment-110717 I just signed up for the Best Buy Rewards Visa which gives a min 1.25% on all purchases and 2.5% on all purchases at Best Buy. I still like my PC Financial and Costco but my everyday card will be the Best Buy for now. They are also giving $10 Best Buy gift card for opening an account. Regarding the Air Miles card, I had a card a few years ago and the points value at 1 airmile for $20 is really poor. I decided the best value was in gift cards through airmiles and at the time buying a $50 card cost 350 airmiles. You would have to spend a lot of monthly spending to get that one gift card and the flights are expensive when using points unless you use lots of bonus deals at Safeway. I used to be an Air Miles loyalist but saw that there was better programs out there. I just signed up for the Best Buy Rewards Visa which gives a min 1.25% on all purchases and 2.5% on all purchases at Best Buy. I still like my PC Financial and Costco but my everyday card will be the Best Buy for now. They are also giving $10 Best Buy gift card for opening an account.

Regarding the Air Miles card, I had a card a few years ago and the points value at 1 airmile for $20 is really poor. I decided the best value was in gift cards through airmiles and at the time buying a $50 card cost 350 airmiles. You would have to spend a lot of monthly spending to get that one gift card and the flights are expensive when using points unless you use lots of bonus deals at Safeway. I used to be an Air Miles loyalist but saw that there was better programs out there.

]]> By: f http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-110713 f Fri, 12 Feb 2010 16:37:59 +0000 http://www.milliondollarjourney.com/?p=535#comment-110713 i like the TD package. you get pretty much everything free with select account (infinite visa with 3-9 points per $). and e-series funds. long hours. can not be beat. i like the TD package. you get pretty much everything free with select account (infinite visa with 3-9 points per $). and e-series funds. long hours. can not be beat.

]]> By: BK http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-110710 BK Fri, 12 Feb 2010 16:07:44 +0000 http://www.milliondollarjourney.com/?p=535#comment-110710 Hey MDJ, checkout the MBNA Smart Cash card. 3% cashback on grocery / gas, 1% cashback on everything else. You can apply online, though the card isn't listed on MBNA's website. Checkout this thread on RFD for details: http://www.redflagdeals.com/forums/mbna-new-smart-cash-mc-722828/ Hey MDJ, checkout the MBNA Smart Cash card.

3% cashback on grocery / gas, 1% cashback on everything else.

You can apply online, though the card isn’t listed on MBNA’s website. Checkout this thread on RFD for details: http://www.redflagdeals.com/forums/mbna-new-smart-cash-mc-722828/

]]> By: FrugalTrader http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-110438 FrugalTrader Fri, 05 Feb 2010 19:06:02 +0000 http://www.milliondollarjourney.com/?p=535#comment-110438 Guys, just a heads up that I have updated this article to include more recent offerings. The old article had 2 expired cards as the top 2 picks. Guys, just a heads up that I have updated this article to include more recent offerings. The old article had 2 expired cards as the top 2 picks.

]]> By: FrugalTrader http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-2#comment-110364 FrugalTrader Wed, 03 Feb 2010 23:34:06 +0000 http://www.milliondollarjourney.com/?p=535#comment-110364 Tracy, when you say East Coast Canada, do you mean Halifax? Tracy, when you say East Coast Canada, do you mean Halifax?

]]> By: Tracy http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-1#comment-110353 Tracy Wed, 03 Feb 2010 19:47:11 +0000 http://www.milliondollarjourney.com/?p=535#comment-110353 BMO Mosaik Mastercard has been 1 air mile for every $20 for a while now. With no annual fee. I am really surprised no one has ever mentioned the RBC Avion Platinum. It does come with a hefty annual fee ($120), but if you use the card for a lot of purchases you get back soooo much more in flights! -1 point for every $1 spent -Every few months they have a special, convert your RBC points to BA miles at a rate of 1.5% -Extended warantee -Travel insurance -Car rental insurance etc etc. I forget all the rest. Basically 35,000 BA miles will fly me from East coast Canada all the way to Hawaii round ticket. To get 35,000 BA miles, you need 23,500 RBC points. So basically it comes down to this, every year I pay $120 and receive a $1500 round trip flight. It's worked out like this for a long time. I've been to Hawaii three times with this card. Every two years I get enough points to fly my boyfriend and I to Hawaii. That's spending $240 and receiving $3000 in flights. My mom and dad also have this card (they spend way more than me) and every 2 years they have enough tickets to fly 5 people round ticket to Hawaii. Yeah I know, we like Hawaii too much. lol But you get the idea. I have other credit cards, but most, if not all my purchases are put on this card. I looooove it. Oh and for anyone who's looking to start building credit or fixing your credit, I highly recommend Capital One for Newcomers. It's a secured mastercard, everyone is accepted, and one time fee of $59. This is how I first started out. BMO Mosaik Mastercard has been 1 air mile for every $20 for a while now. With no annual fee.

I am really surprised no one has ever mentioned the RBC Avion Platinum. It does come with a hefty annual fee ($120), but if you use the card for a lot of purchases you get back soooo much more in flights!
-1 point for every $1 spent
-Every few months they have a special, convert your RBC points to BA miles at a rate of 1.5%
-Extended warantee
-Travel insurance
-Car rental insurance
etc etc. I forget all the rest.

Basically 35,000 BA miles will fly me from East coast Canada all the way to Hawaii round ticket. To get 35,000 BA miles, you need 23,500 RBC points. So basically it comes down to this, every year I pay $120 and receive a $1500 round trip flight. It’s worked out like this for a long time. I’ve been to Hawaii three times with this card. Every two years I get enough points to fly my boyfriend and I to Hawaii. That’s spending $240 and receiving $3000 in flights.
My mom and dad also have this card (they spend way more than me) and every 2 years they have enough tickets to fly 5 people round ticket to Hawaii.

Yeah I know, we like Hawaii too much. lol But you get the idea. I have other credit cards, but most, if not all my purchases are put on this card. I looooove it.

Oh and for anyone who’s looking to start building credit or fixing your credit, I highly recommend Capital One for Newcomers. It’s a secured mastercard, everyone is accepted, and one time fee of $59. This is how I first started out.

]]> By: Simon http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-1#comment-110299 Simon Tue, 02 Feb 2010 20:18:09 +0000 http://www.milliondollarjourney.com/?p=535#comment-110299 PC Financial Mastercard sucks. Its extended warranty is a lie & a joke, for it excludes the most useful & important purchases on which extended warranty can be useful - auto, computers or any related hardware, software. Almost all other credit card's extended warranty doesn't exclude computers. PC Financial Mastercard sucks. Its extended warranty is a lie & a joke, for it excludes the most useful & important purchases on which extended warranty can be useful – auto, computers or any related hardware, software. Almost all other credit card’s extended warranty doesn’t exclude computers.

]]> By: FrugalTrader http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-1#comment-109119 FrugalTrader Wed, 06 Jan 2010 02:21:22 +0000 http://www.milliondollarjourney.com/?p=535#comment-109119 Rebecca, I believe that only AMEX and BMO offer Airmiles credit cards with no annual fee. Rebecca, I believe that only AMEX and BMO offer Airmiles credit cards with no annual fee.

]]> By: Rebecca http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-1#comment-109118 Rebecca Wed, 06 Jan 2010 02:15:18 +0000 http://www.milliondollarjourney.com/?p=535#comment-109118 I have recently graduated from university and have just started a full-time job. I am looking for a credit card with no annual fee that will allow me to collect airmiles. Any suggestions? I have recently graduated from university and have just started a full-time job. I am looking for a credit card with no annual fee that will allow me to collect airmiles. Any suggestions?

]]> By: James http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-1#comment-107783 James Wed, 02 Dec 2009 06:19:44 +0000 http://www.milliondollarjourney.com/?p=535#comment-107783 SPG is being discontinued by Mastercard / Starwood Resorts. Unreal and looking for an alternative with comparable rewards. SPG is being discontinued by Mastercard / Starwood Resorts. Unreal and looking for an alternative with comparable rewards.

]]> By: robz http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-1#comment-107684 robz Sun, 29 Nov 2009 07:27:26 +0000 http://www.milliondollarjourney.com/?p=535#comment-107684 Annual Interest Rate 19.99% on card purchases 21.99% on cash advances, balance transfers and Scotia® VISA cheques.¹ Minimum Credit Limit $500 Annual Fee¹ $39 Additional Cards Scotia Momentum Cash Back Program Annual Fee¹ $15 Grace Period Interest-free up to 21 days2 A full 2% cash back on all eligible gas, groceries, recurring payments and drug store purchases3. A full 1% cash back on all other eligible purchases4. Purchase Security and Extended Warranty protection on most purchases. Annual Interest Rate
19.99% on card purchases
21.99% on cash advances, balance transfers and Scotia® VISA cheques.¹

Minimum Credit Limit
$500

Annual Fee¹ $39
Additional Cards
Scotia Momentum Cash Back Program

Annual Fee¹ $15
Grace Period Interest-free up to 21 days2

A full 2% cash back on all eligible gas, groceries, recurring payments and drug store purchases3.
A full 1% cash back on all other eligible purchases4.
Purchase Security and Extended Warranty protection on most purchases.

]]> By: FrugalTrader http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-1#comment-98397 FrugalTrader Tue, 11 Aug 2009 18:16:59 +0000 http://www.milliondollarjourney.com/?p=535#comment-98397 The platinum MBNA cards cover the Collision insurance (CDW) but not liability. As well, they only cover certain vehicles so best to call MBNA before booking your car rental. The platinum MBNA cards cover the Collision insurance (CDW) but not liability. As well, they only cover certain vehicles so best to call MBNA before booking your car rental.

]]> By: Carl http://www.milliondollarjourney.com/top-no-fee-rewards-credit-cards-in-canada.htm/comment-page-1#comment-98392 Carl Tue, 11 Aug 2009 17:53:40 +0000 http://www.milliondollarjourney.com/?p=535#comment-98392 Anyone know how comprehensive the insurance coverage is for a card like the MBNA SPG Mastercard? I thought that in general terms, "free" insurance coverage on these cards often isn't as good as insurance you'd otherwise pay for when you rented a car or went on holiday, for example. Anyone know how comprehensive the insurance coverage is for a card like the MBNA SPG Mastercard? I thought that in general terms, “free” insurance coverage on these cards often isn’t as good as insurance you’d otherwise pay for when you rented a car or went on holiday, for example.

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