What Credit Card(s) do you use? | Page 3 | Credit card reward programs | Discussion forum

I also prefer the cards with travel rewards. For many years, I was loyal to CIBC Aeroplan, but found that: 1. it was almost impossible to get a flight at a day/time that you want 2. the taxes cost more than a regular ticket. So, I ditched the CIBC and switch to BMO world elite--but not the cashback. I got a bonus when i registered for the card. You can book any airline/anytime but you need to do it through their designated phone number--you can't book online yourself. You also get 2 airport lounge passes per year with the BMO world elite.
I also used to like the TD infinite (you can use the points for anything travel related, including taxes, and simply apply online to apply your points towards cash on your visa card to offset your travel booking) but they devalued the value of the points, so I ditched it for a new TD aeroplan--also getting a welcome 25,000 points, and there was a contest in the branch and i got an additional 25,000 points. Aeroplan has improved so I don't mind having this card as a secondary--and I get it for free from TD since I have a savings account and chequing account with them. I guess it's personal preference--cashback or travel rewards. I feel like this forces me to take vacations, and it's fun to feel like you're travelling for free! And, of coure, I pay for everything on my cards to get as many points as possible!

If anyone is looking at a Scotiabank credit card, check out ratesupermarket.ca https://www.ratesupermarket.ca/deals to pick up an additional $50 to $75 bonus.

I currently use Tangerine MasterCard, AMEX Simple cash back card, and Costco Card mostly. Amazon Visa for fx fee avoidance.

I'm getting the Rogers card soon in the mail.

I might make it my main (1.75% on everything) and have one other card for backup (probably Amex, 1.25% for insurances or if Rogers card doesn't work for some reason). If I really love it.

If I don't. I'll go Tangerine grocery (2%), Canadian Tire (2%) and transit (for tolls, 2%). Costco Master card gas (2%), Restaurants (3%). Amex Simply Cash for anything that needs insurance (1.25%). Rogers for everything else (1.75%) and fx fee avoidance effectively (1.5%).

I don't use travel perks so cards that are full of travel perks aren't interesting. You know the world elite stuff. They give a range between 1 and 4%. But if I was interested in just percent than I'd go with the no annual fee GMC Visa at 5% to a limit and than 2% after.

So, that left me with Rogers. Close to 2% at 1.75% and good for avoiding fx fees. I don't need to worry about hitting a 0.5% category. Don't need to worry about a high yearly fee. If it's got a good website and CS. I'm set 😀

User230 said
I currently use Tangerine MasterCard, AMEX Simple cash back card, and Costco Card mostly. Amazon Visa for fx fee avoidance.

I'm getting the Rogers card soon in the mail.

I might make it my main (1.75% on everything) and have one other card for backup (probably Amex, 1.25% for insurances or if Rogers card doesn't work for some reason). If I really love it.

If I don't. I'll go Tangerine grocery (2%), Canadian Tire (2%) and transit (for tolls, 2%). Costco Master card gas (2%), Restaurants (3%). Amex Simply Cash for anything that needs insurance (1.25%). Rogers for everything else (1.75%) and fx fee avoidance effectively (1.5%).

I don't use travel perks so cards that are full of travel perks aren't interesting. You know the world elite stuff. They give a range between 1 and 4%. But if I was interested in just percent than I'd go with the no annual fee GMC Visa at 5% to a limit and than 2% after.

So, that left me with Rogers. Close to 2% at 1.75% and good for avoiding fx fees. I don't need to worry about hitting a 0.5% category. Don't need to worry about a high yearly fee. If it's got a good website and CS. I'm set 😀  

Unless you're a Rogers customer, I would rather get the FIDO master card only because there is no annual fee. They both are 4% on Foreign transactions, which gives you a net 1.5% cash back after paying the 2.5% Fx fee. The Rogers offers 1.75% all Canadian purchases, but considering the annual free, unless you're a Rogers customer, I'd rather have the FIDO card instead.

I heard BMO will introduce new rewards on its BMO rewards world elite MC on July 5th so if your looking at this card (or another travel rewards card) you may wish to wait for the new offer details.

BW hotels is one of the few chains that still has a no expiry policy for points, and means it. It may even be the only one. Recently lost all of ours from IHG (Holiday Inn etc) system which famously said Points Never Expire for years. No, they didn't exactly expire, I suppose. They simply dropped the old name, Priority Club, and now it's IHG Rewards. All the old points are gone, but the member number and password are still exactly the same. Very sleazy. On the other hand, I recently redeemed BW points for a free hotel night - those points were accumulate over 10 years ago.

Loonie said
… Recently lost all of ours from IHG (Holiday Inn etc) system which famously said Points Never Expire for years. No, they didn't exactly expire, I suppose. They simply dropped the old name, Priority Club, and now it's IHG Rewards. All the old points are gone, but the member number and password are still exactly the same. Very sleazy. …

I think IHG switched to an Aeroplan-like approach for their reward program around May 2016. The points themselves don't have expiry date. But, the point balance is zeroed now after the reward account has no activity for 12 months. This is from their FAQ:

Do IHG® Rewards Club Points expire?

To reward our guests who choose to stay with us more often, we focus more programme benefits toward members who earn and redeem on a regular basis. All points will expire after 12 months if there's no account activity. But it's easy to maintain your points balance. Just earn or redeem once a year through any of our IHG hotels or partners.

Norman1 said

MBNA may also have an alternate spending qualification like PC Financial does.

PC Financial's World Elite MasterCard now requires a "minimum annual personal income of $80,000 or household income of $150,000 or a minimum spend of $25,000 per year" to qualify.

I think these changes are coming from MasterCard Canada to address merchant complaints. "Premium cards" have higher interchange supposedly for higher spending customers. For example, 1.89% (+21.9%) or 2.49% (+60.6%) instead of 1.55%. Because the definition of "premium card" used to be quite loose, merchants discovered that card issuers were quietly upgrading their customer's standard cards to "premium cards" arbitrarily just to collect the higher interchange.

In the past, no-one was surprised that the $99/year BMO Gold MasterCard was a "premium card". I think merchants were surprised that the no-fee BMO AIR MILES MasterCard was also a "premium card"!

It's not to address merchant complaints but to address the possibility of government restrictions caused by merchant complaints. For arguments sake it could be considered the same thing I guess.

They changed it for the government. In a, round about way it was because of merchants being angry and lobbying. CC companies didn't care. Merchants went to the government. Government basically forced CC companies to care.

Anyways. The government wants 1.5% fee average. MasterCard has been giving out these higher end cards to much. They are over the 1.5% fee average (or project this) and so are increasing income requirement to try and prevent people from applying. Or at least look like they are....

But seriously they are because they want below 1.5% (or the government might take action, which they don't want). They know higher income requirements will ward off more people and scare more people from lying (bigger lies are more likely to be caught and removed).