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Email this8:35 pm
December 4, 2016
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I think it is:
Rogers MC WE MasterCard and Tangerine Mastercard.
Covers most things at 2% return as tangerine can get 3 categories and 6 if you're a couple. With a fall back of 1.75%.
Rogers WE has good benefits also and Tangerine has okay benefits.
If merchants start charging more for people that use WE cards soon than one can fall back on Tangerine (a non-WE card).
I'm not the first to suggest this combo. I would like others thoughts about it, compared to other combos.
This combo does lack diversity. If one is looking from two different brands than I'd go with Simply cash by AMEX and Rogers WE.
If I were a heavy shopper at superstore I'd pair Rogers WE with the PC Mastercard.
If I didn't meet the requirements of the PC WE and Rogers world elite. I would just replace the above with there lower counter part. Except I wouldn't include PC Master card as it's a basic 1% card. It's a good 1% card though.
If I were into GMC vehicles I'd get the GMC Visa. As overall this is the best card among fee and no fee cards. One has to use the points on a GMC vehicle purchase though.
Best fee based card combo has to be a base 2% card with a card that has high percent back in different categories.
So, I'd go with
Meridian Visa Infinite (over the Scotia Momentum VISA Infinite Card) and the
Simply Cash Preferred Card from American Express.
As they give the best return for most high spenders.
If I did a lot of shopping overseas I'd probably get the Scotia passport cc.
If I went to hotels a lot SPG.
If carrying a balance Amex Essentials.
There is of course better CCs for different situations. I'm just speaking generally. If you are finding yourself using a certain brands product they probably have a CC that makes more sense to get than these generally good selections.
Also, these cards might devalue.
We are seeing more and more devalue and there might be a cascade soon. They are likely not going to absorb the 0.1 drop that is basically being forced on them. They will likely pass it onto us. More 1% or 1.5% earn rates. Less benefits. More gimmicky points systems that hide the true value of points and or devalue them later. More barriers to retrieving points. More fees and the ones that exist will get higher. When CC companies get squeezed they won’t go to the moon for you. They are going to ramp up their profits and blame it on the interchange fees going down.
One thing they may increase is the initial sign up bonus to trick us to going with them even if they reduce there earn rates. As it's a big carrot that people like. More first year free. More balance transfers. These are all things they will do more in the absence of good earn rates. See more catagory based rates.
What do you people think of the combos and what would be your combos? Or is your combo?
What do you think about the lower interchange fees and how CC companies will react?
Do you go with 1,2,3,4 credit cards? I suggest a combo because I think that is all a typical person should have to reduce hassle.
I like CC quite a bit so I roll with 4. I do suggest always having a test CC. Especially if you don’t like one of the CCs you have. I might reduce to two though and never look back if two of the CC companies blow me away with there cards.
The 4 cards i currently go with are:
Rogers, Tangerine,PC and AMEX SC
So, I might be bias on why i like certain combos. One reason I'm brining up this topic. Want to hear what others think about the above.
6:54 am
December 20, 2016
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I'd go with
Meridian Visa Infinite (over the Scotia Momentum VISA Infinite Card)
Though the Meridian Visa Infinite card has an annual fee, I am including my unfavorable experience with this Meridian credit card as a caution for anyone considering any Meridian card.
I gave the Meridian Visa Infinite a try this Spring, taking advantage of the first year's fee being waived and to determine if the 4% cashback on gas and groceries would justify the expense of the fee.
First surprise was the clumsy clumsy payment process. The banner on the card site says:
Payment of your Meridian Visa Credit Card by cheque is no longer available. You may make your payment at most financial institutions in Canada either through a teller, by online banking, telephone banking, or ATM banking (payee Meridian Visa).
Pre-authorized debit is also not available, so every month requires manual payment of the credit card...no automatic payment option.
Next surprise was outrageous cashback redemption process. Not only is redemption only available for amounts over $50, which is tolerable, but the credit is only applied after two billing cycles or 45 days after a redemption claim is made. Rewards are not credited automatically as with other cards, but rather require a specific request for redemption.
Cambria is the third party administrator of Meridian credit cards, and rewards are then administered by another third party located in the U.S.
The implication of the 45 day wait for rewards is that waiting for rewards to be credited will force the card owner to pay the annual fee if the rewards claim is made close to the card's renewal date.
Once the initial rewards are credited, I will be canceling the Meridian card in favor of my no fee Rogers World Elite card combined with my MBNA no fee Visa.
Stephen
7:08 am
October 21, 2013
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I have little tolerance for cards which don't offer pre-authorized debit. Meridian does offer travel health insurance to age 75 on some of its cards, which can be hard to get as a freebie. Of course, you'd have to be perfectly healthy, I'm sure, but could be handy if you forget to enrol somewhere.
Why don't these FIs get everything in order before they start? We had to wait quite a while for Rogers to get their pre-authorized debit going. In the meanwhile, customers get frustrated and leave.
12:25 pm
July 10, 2011
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Tangerine MC / Amex SC. I don't use fee based cards at all. Hubert MC isn't bad looking etiher with mobile phone coverage..
12:37 pm
December 1, 2016
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I like this Post because I've often wondered how people combo-up their different cards and why.
Myself, I currently have the following cards:
1) RBC VISA
2) Home Trust Preferred VISA
The RBC VISA was my first credit ever that I got when I started University, so I didn't get it for points, benefits or anything specific, I just wanted to get a card to start building credit. The reason I still keep it, is so that I don't pay a monthly RBC fee for my accounts (multi-product rebate).
I recently gotten the Home Trust VISA, because of the no foreign fees when traveling and it has no fee.
I had the AMEX Aimiles Platinum CC , but after the whole airmiles debacle which left a bad taste in my mouth, I cancelled this card and have been meaning to find my next everyday go to card.
I am thinking of getting the Tangerine credit and using this as my next go to card for everyday shopping, specifically for the 3 categories offered, since I am a Tangerine client.
I also have to say, I am a fan of Amex cards, and wanted to get another good card with good benefits, whether it be benefits for traveling like medical insurance or extended warranties, etc. but I am at a loss as to which card to get.
After consulting all available websites that compare cards annually I am still torn as what to get. I was thinking of getting the Amex Gold card, but since aeroplan is leaving at 2020, not sure its worth it.
I want a good card for traveling (meaning when buying, not to use WHILE traveling as that's what I have the Home Trust card for) and other good benefits, like insurance or cash back.
Any thoughts?
9:42 pm
November 7, 2014
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First of all, although I do have an old Amex Airmiles card stashed away somewhere, I never use it because a lot of vendors don't take Amex cards. (I also hate the Airmiles program) The vendors have too many issues with Amex fees and rules. Also, the really good Amex rewards cards annual fees cost too much.
I have an MBNA World Elite Mastercard which has been great, until the fees go up this fall and the rewards are devalued in February. So, that one will go away.
My feeling is that one should have a Mastercard and a Visa card, just in case one is not accepted (Costco and No Frills don't accept Visa) or if one fails for any reason. I have found that although we regularly spend money on gas and groceries, the really big spends are on other household purchases and repairs, car repairs, dental expenses etc., so getting an overall good cash back on everything is more important than a focused cashback of 2% on some items and 1% or less on others.
For these reasons I am going to go with the new, no fee Rogers World Elite Mastercard with 1.75% cash back on most items, 2% on Rogers items and the 4% on foreign purchases (less the 2.5% forex fee) plus other extended warranty and purchase perks. This will be my primary card. My Visa card will be the no fee Home Trust Preferred Visa, which has numerous perks including 1% cash back, no forex fees, auto club coverage and a number of other price protection benefits.
Having said that, this arrangement will only be temporary as I am sure the rules applying to these cards will change at some point, as they have for my soon to be cancelled MBNA card and my formerly cancelled Tangerine card before that.
3:33 pm
March 30, 2017
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PCO world elite and the new Cantire triangle elite card. Both no annual fee and the perks are respectable.
My no.1 criteria to consider using a credit card is it must be no fee.
They r earning 2% from merchant already, they should pay me to use their cards.
8:20 pm
January 3, 2013
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I am happy with my Rogers MC World Elite & MBNA Smart cash Platinum plus. This was free when I got it and was never charged a fee till now.
Rogers is great for Foreign transactions plus anything none gas & grocery 1.75%.
MBNA is %2 for gas & grocery.
But if MBNA starts charging me after the renewal, I'll have to shop for a new card!
8:37 pm
December 4, 2016
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At Nehpets,
That's good insight. I don't go for fee cards although I did consider this one (Meridian). I phoned them and they told me about he points system and I decided to avoid. What you're saying about the points system was one of my worries.
The no Pre-authorized payment (PAP) is also a down side. On the face of it, it's a better card in terms of benefits (I.e. Scotia Momentum VISA Infinite Card) and it's not a AMEX (reason I didn't choose Cobalt) which are pluses. I would trust Meridian over Scotia as well. Even though I don't know much about Meridian. Personally, I would go with Meridian if I was forced to pick up a fee based cc.
Loonie,
I don't think I could trust these CC insurances either. If I had a health issue and used it. They might hold it against me.
If I phoned the CC company they wouldn't really defend me / wouldn't really care compared to an insurance provider which probably care more about keeping my business.
I see the insurances on CC as a possible back up to other insurances. Not to be relied on. I've never used it and I likely will never use it. When considering a card, it's low on my list of things to look for.
I can tolerate no PAP if it's a good enough card. It has to be my primary and I will check the bill each month and pay online. I like the backup of having PAP though / not needing to check that box each month.
Yatti420,
Yeah Tangerine works well with a AMEX. It's a strong combo. Biggest issue is AMEX acceptance which is somewhat minor.
The world version of the Hubert card is a bit crazy at 199 dollars. Not really for me. The basic card is alright. It lacks a true cash back model. It's a points system. Which I try to avoid.
moneyhelp,
If you have a relationship with a bank I'd keep going with that card. Most of the time. The stronger the relationship the better for both of you usually. For example, if you're looking for your first card the bank you bank with is usually very open to giving a CC to you. Where other CC issuers are more likely to decline due to lack of history. They might value you more as a customer and help you out a bit more than someone off the street. Although many say that relationships with banks are overrated (which I side a bit more on this side).
HT has a lot of good and bad. It's a mix bag. I'm avoiding because it's new and also lacks many things I like in the CCs I have. It's still a good card though. It's really offers things other cards are just picking up on.
Tangerine is a great card. Major draw back is you sort of need a Tangerine Chequing or Savings account. As you need one to have a PAP. I tend to use this card the most even though it lacks a good fall back to it's 2% categories. I find that 3 categories cover most of my regular spending.
I hear good things about AMEX Gold. I avoid it because the annual fee. I know someone that has it and they like it. The aero plane stuff is so confusing. Sort of why I avoid points based systems.
Probably the best card would be the simply cash preferred. It's 2% cash. Plus, no requirements for income. It's got an annual fee though. Has some travel insurances. Pretty good. Most really great insurance packages are associated with high annual fee cards.
gicjunkie,
Yeah, I think things are about to change quickly in the industry. With the new lower interchange fees.
I would prefer to have a visa but most are non-competitive in Canada (they have relationships with large banks and don’t need to compete as much). In absence of a great no fee visa. AMEX is an alright alternative. HT is probably the best no-fee visa but it's riddled with issues to go with it's great perks (no FX FEE, and Tow away service mostly).
I avoided MBNA based on reputation. The downgrade makes it a non-player to me. More so than it was before.
savemoresaveoften,
That's also a good combo. I just don't buy anything at Canadiantire. I'd use it for it's Tow away service and that's it. To me it's not worth my time for just that one feature. If you shop there it's a great card. PC is great also.
Most merchants do factor 2 percent or possibly more. It's a bit sad. I wish they would lower their prices and didn't need to factor it in. It would mean lower rewards but I'd accept it. Some people think they wouldn't pass on the savings though. Some merchants probably wouldn't.
Yeah, to me it has to be no fee or the most outstanding card ever. Mostly because I save some years and spend others. Meaning sometimes an annual fee wouldn't make sense. I don’t want to worry about crunching the numbers all the time either. Just more care free when it comes to CCs.
11:56 pm
October 21, 2013
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save2retire, Thanks for responding to all of us!
I agree, the insurances are potentially problematic, but a port in a storm perhaps, especially border-hoppers who may forget to insure.
I would have no confidence, however, that a regular insurance company would care enough about your business to be more responsive than a credit card company in paying out for an insured problem.
Insurance companies have armies of lawyers and so on who are dedicated to minimizing their costs. Your business doesn't matter unless you're a corporate client.
I met someone once several years ago who worked in the legal department of the insurance industry and was truly startled at what he told me about the lengths they would go to. The individual doesn't stand a chance without hiring their own legal team. They only really pay attention when lawyers contact them. just repeating what I was told. The only sure thing is life insurance, the kind with no health conditions clause that you buy usually when you're younger. A death certificate will suffice, but you personally will never benefit from it even though you pay the premiums!
I think you get what you pay for, in essence. The credit card insurance is free or cheap, compared to regular insurance. Accordingly, the fine print will be more restrictive.
For those who want free-only and who visit restaurants a lot, the Costco card looks good. I don't have one, but it gives 3% on restaurants and costs nothing. It's not much use at Costco though; you can do better with another card.
8:34 am
March 17, 2018
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savemoresaveoften said
PCO world elite and the new Cantire triangle elite card. Both no annual fee and the perks are respectable.
My no.1 criteria to consider using a credit card is it must be no fee.
They r earning 2% from merchant already, they should pay me to use their cards.
If you check list of gas stations that use top tier gas you will see Canadian Tire not on list, which takes away the advantage of being able to use the Cantire car for a discount for gas. ( Also Ultramar and 7-11 not on list )
11:32 am
October 21, 2013
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What list?
Please provide link.
2:32 pm
March 30, 2017
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Briguy said
If you check list of gas stations that use top tier gas you will see Canadian Tire not on list, which takes away the advantage of being able to use the Cantire car for a discount for gas. ( Also Ultramar and 7-11 not on list )
Briguy said
If you check list of gas stations that use top tier gas you will see Canadian Tire not on list, which takes away the advantage of being able to use the Cantire car for a discount for gas. ( Also Ultramar and 7-11 not on list )
My understanding is cantire sources their gas from Shell. Recalled some RFD forum talked about it.
Also my belief is gas that are advertised as having cleaning additives added are a marketing gimmick, unless you put 50k+ a year. Then maybe there is a benefit.
7:34 pm
March 17, 2018
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Loonie said
What list?
Please provide link.
This is the link to top tier brands
https://www.toptiergas.com/licensedbrands/
Top tier gas was developed by the major car manufacturers and they RECOMMEND you use only top tier gas. Consumer Reports also recommends top tier gas. Although all gas stations buy from the same refineries, when they pick up a load of gas, the refinery or distribution centre adds the top tier package of additives ( about 5% ) to the tank, which is a better package than the base additives added for other stations. This should result in better cleaning of your fuel injection system.
7:37 pm
March 17, 2018
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So although Canadian Tire may buy from Esso refinery, that doesn't mean they are buying Esso's package of additives to be added to the fuel tanker, otherwise Canadian Tire ( and Husky, Ultramar, 7/11. Loblaws etc. ) would advertise they meet top tier program. Costco does participate in the top tier program.
8:59 pm
October 21, 2013
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Interesting.
I drove for 45 years, never had an accident, bought gas anywhere and everywhere, drove cars into the ground, and never had a problem with fuel injection.
Spouse now does all the driving.
4:32 am
March 17, 2018
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I'd rather buy most of my gas at a top tier gas station but I am not saying that everyone has to feel the same way. If you stick with top tier you don't need to buy any extra fuel additives.
This is what it claims on the top tier gasoline website:
Since the minimum additive performance standards were first established by the EPA in 1995, most gasoline marketers have actually reduced the concentration level of detergent additive in their gasoline by up to 50%.
The intention of the TOP TIER™ Detergent Gasoline standards is to create a winning situation for gasoline retailers, auto manufacturers and drivers. Currently, many gasoline retailers provide fuels with lower-quality additive packages that can build up deposits on fuel injectors and on intake valves. Others can build up deposits in combustion chambers and may lead to intake valve sticking. These lower levels of additives can have negative impacts on engine performance and vehicle responsiveness.
5:59 am
March 17, 2018
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The Canadian Tire Triangle World Elite is still worth getting, since there's no annual fee, and has gold roadside assistance, but I would only use it for groceries (reward is 3% in Canadian Tire money, no rewards earned at Walmart or Costco ) and when shopping at Canadian Tire.
Correction to one of my previous posts- Ultramar is top tier gasoline, since it's actually listed as Valero on the top tier gasoline website.
Another factor to consider- ethanol free gasoline gives you slightly better performance and gas mileage, and is less damaging to older vehicles, boats, ATVs, motorcycles and outdoor power equipment (eg. lawn mowers). You can buy ethanol free gasoline with these: Costco 91 octane; Canadian Tire 91; Ultramar 91;Shell V-Power 91; some Esso 91 stations.
https://www.pure-gas.org/index.jsp?stateprov=ON
5:59 am
December 17, 2016
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One of the disadvantages of burning regular or mid-grade fuel is the mandated addition of ethanol as an additive - premium grade fuels are exempt from that mandate. While ethanol is a "cleaner" burning fuel the downside is that you get poorer gas mileage on your vehicle HENCE you burn more fuel to get to your destination.
6:06 am
March 17, 2018
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Not all premium grade fuels are ethanol free, see my previous post, eg. this is off PetroCan website:
Does Ultra 94 contain ethanol? Does Petro-Canada still offer an ethanol-free gasoline?
Ultra 94 contains ethanol. Due to the fact that various fuel grades are blended at the point of sale, most grades of Petro-Canada fuel may now contain up to 10% ethanol. This represents a change from the previous state, where premium fuel was ethanol-free at Petro-Canada.
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