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Old 07-26-2017, 11:34 PM   #461
curves2000
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Originally Posted by calgarygeologist View Post
I wasn't able to easily find a thread on lines of credit so I figure I'll just post my question in here instead of starting a new thread. What is a good current rate for a secured line of credit? I spoke with a manager at a bank that my company is affiliated with and they are offering us employees prime plus 0.5%. Is this a good rate? Should I shop around for better?

If we are talking about a homeowners line of credit, a secured , revolving credit line, than a rate of prime shouldn't be too hard to negotiate depending on credit history and your existing relationship with the bank.

Prime I believe is currently 2.95%. If your willing to transfer over additional business to the bank in the form of credit cards, investments, accounts etc than they would sometimes offer a deal on the lending products in the hope of attracting the additional business. Please keep in mind though that they are prohibited from approving/declining your lending application on the basis of you transferring over business. They are only able to negotiate the rate.

Depending on your actual lending needs and the repayment terms/timeframe , you may want to go with a hybrid product that some lenders offer where there's a mortgage portion and a line of credit portion. The benefit of having the mortgage portion is that you can save on interest costs with a locked in lower rate, actually pay off the balance every payment.

Let me know if you have any additional questions with a PM. Good luck!
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Old 09-01-2017, 11:11 PM   #462
Wormius
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Does anybody know why some companies' monthly automatic payments don't count as recurring charges for the Momentum Infinite Visa?

I have had 6 months of Enmax paid automatically, and they haven't been counted towards the 2% cash back. I tried to clarify with Scotiabank and their response was this:

Quote:
Good Afternoon,

Thank you for writing to us about your cash back inquiry.

Recurring payments are defined as payments made on a monthly or regular basis
automatically billed by the merchant to your Scotia Momentum Visa Infinite
card. Recurring payments are typically telecommunication, insurance,
membership, subscriptions etc. purchases. Not all merchants offer recurring
payments. (Please check with your merchant to see if they offer recurring
payments on Visa cards.) Some merchants may sell these products/services or are
separate merchants who are located on the premises of these merchants, but are
classified by Visa in another manner, in which case this added benefit would
not apply.

I do apologize for any inconvenience.
I didn't think it was something that a merchant had to set up specifically, since I have a few bill payments to small local companies and it counts as a recurring bill on my statements.
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Old 09-02-2017, 07:21 AM   #463
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I feel your pain.

We have two Enmax accounts, both billed to the Momentum VISA, and neither come up as recurring payments. Drives me crazy.....it's a good $50 a year we're missing out on.

The infuriating part is that nobody seems to know how to make the change!
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Old 09-05-2017, 08:02 AM   #464
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Not the same issue but similar. I was at a restaurant and didn't get my 2% cash back on my Tangerine card. Called in and Tangerine said that it's the way the business registers with Mastercard, apparently that restaurant was registered as a hotel.
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Old 09-05-2017, 08:25 AM   #465
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I think recurring payments need to be the same amount each time.
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Old 09-05-2017, 08:31 AM   #466
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Quote:
Originally Posted by bob-loblaw View Post
I think recurring payments need to be the same amount each time.
My Rogers statement varies from month to month; I also changed my internet provider plan, so it went up slightly, but it was still considered recurring in the first month that it changed.
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Old 09-05-2017, 08:35 AM   #467
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Pro-tip - buy things like bus passes, stamps, etc. at gas station convenience stores for the 4% rewards.
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Old 09-11-2017, 04:42 PM   #468
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I'm thinking about switching from the CIBC Visa Aerogold to RBC Avion... Aeroplan sucks, since all the flights I actually want to take are never available, from the limited selections that you get offered in the first place. You also have to pay all taxes and fees in addition to the points. Aside from the travel insurance, I've had just about enough of this extremely immobile rewards program. Did I mention Aeroplan sucks?

Does someone use Avion and what's been your experience having it?
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Old 09-11-2017, 04:56 PM   #469
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Originally Posted by Wormius View Post
Pro-tip - buy things like bus passes, stamps, etc. at gas station convenience stores for the 4% rewards.
Also, for places like Starbucks that have in-app payment, buy gift cards at the grocery store and load their value onto their app to pay for your purchases.

Same thing if you're planning to make a big purchase at a normal store. Check to see if they sell gift cards for that store at your grocery store first.
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Old 09-11-2017, 04:59 PM   #470
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I'm thinking about switching from the CIBC Visa Aerogold to RBC Avion... Aeroplan sucks, since all the flights I actually want to take are never available, from the limited selections that you get offered in the first place. You also have to pay all taxes and fees in addition to the points. Aside from the travel insurance, I've had just about enough of this extremely immobile rewards program. Did I mention Aeroplan sucks?

Does someone use Avion and what's been your experience having it?
Had that card for 6+ years, highly recommend. I funnel essentially all my spending through it, the points add up pretty quickly that way.
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Old 09-11-2017, 09:41 PM   #471
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I have the west jet card and it has pretty good perks for travel, you get a yearly buddy pass and west jet dollars
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Old 09-14-2017, 10:40 PM   #472
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Amex Personal Gold Card is no longer first year free from today! It has been 7 years....
The Amex Gold Business Plat is still first year free and 40k bonus:
https://idap-e3.americanexpress.com/...CPID=100188662
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Old 09-29-2017, 01:20 PM   #473
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Originally Posted by caff View Post
Amex Personal Gold Card is no longer first year free from today! It has been 7 years....
The Amex Gold Business Plat is still first year free and 40k bonus:
https://idap-e3.americanexpress.com/...CPID=100188662
I have the business Plat now, but considering to switch to this one.
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Old 10-10-2017, 09:22 PM   #474
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I have the business Plat now, but considering to switch to this one.
You should do it now before the first year free is gone.
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Old 11-17-2017, 04:53 PM   #475
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TD First Class Visa Infinite card promo: 50k bouns points ($200):

https://www.td.com/ca/en/personal-ba...infinite-card/
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Old 12-15-2017, 04:59 PM   #476
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The Amex Cobalt Card is a very interesting card. If you can use it for groceries and restaurants, you are getting more than 5% return:

https://idap-e3.americanexpress.com/...CPID=100301341
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Old 12-15-2017, 07:27 PM   #477
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I'm thinking about switching from the CIBC Visa Aerogold to RBC Avion
I'm not that impressed with it. You may be able to generate points fairly quickly but the conversion sucks. Based on what the brief description on RBC's website, having 100k+ of points should get you a long haul ticket to Asia. However, each time I try to book a trip just to see what the bill would come out to, it keeps telling my I don't have enough points to do what I want.

As far as I can tell, the WestJet World Elite MC is the better choice.
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Old 12-16-2017, 11:36 AM   #478
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Quote:
Originally Posted by caff View Post
The Amex Cobalt Card is a very interesting card. If you can use it for groceries and restaurants, you are getting more than 5% return:

https://idap-e3.americanexpress.com/...CPID=100301341
Amex could offer 10% and it still wouldn't matter until they become accepted everywhere for groceries and restaurants. Maybe this has changed in recent years since Costco stopped using them, but it was hit and miss (mostly miss) when trying to use it at a restaurant. I will still be using the Scotiabank one for the 4% until something better comes along.

edit: It also has a $120 annual fee versus $99 for the Scotiabank Visa.

Last edited by Wormius; 12-16-2017 at 11:40 AM.
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Old 12-16-2017, 09:06 PM   #479
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Originally Posted by getbak View Post
Also, for places like Starbucks that have in-app payment, buy gift cards at the grocery store and load their value onto their app to pay for your purchases.

Same thing if you're planning to make a big purchase at a normal store. Check to see if they sell gift cards for that store at your grocery store first.
Oh, going back to this thread made me remember this question I had - can you use iTunes gift cards to make purchases like loading up money on your Starbucks app? I have been trying to figure out if there is a worthwhile purpose of getting those discounted iTunes gift cards that go on sale very so often. If I could use them for something besides the iTunes store, they would be a good deal.
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Old 12-17-2017, 09:05 AM   #480
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I have the west jet card and it has pretty good perks for travel, you get a yearly buddy pass and west jet dollars
And now you can spend WestJet dollars on KLM, Air France and I think Delta or one of the big US carriers with more to follow.
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