What credit cards have the best rewards?

[blankall]

Originally Posted by albertGQ

There is no annual fee & you get double points back if you use the card at Superstore & you get 7 cents in superbucks (instead of 3.5 cents) when you pay for your gas with this card.

What other cards offer a better cashback that has no annual fee?
I know ATB has a good no fee cash back card. But I don't really like to deal with ATB since they screwed up on my mortgage payout

If that's the case, you are obviously better off having the card and doing all of your PC shopping with the card. Whether or not it's worth the hassle of having the extra card depends on how much shopping you do at PC.

[DownhillGoat]

Originally Posted by blankall

I beleive this is wrong. You get a slight advantage to your credit rating by having a credit card open but not using it, as it increasees your credit to debt ratio.

Your credit rating may get a boost, but increasing your credit/debt ratio isn't a good thing when trying to get credit. When applying for loans/mortgages I've had the bank look at my available credit and take it into account as cash I already have access to, and counted it against me for getting the loan.

[Old Yeller]

Thought this was an interesting read related to the MBNA discussion:

http://www.boomerandecho.com/why-i-c...ed-to-keep-me/

They recommend the 'Scotia Momentum Visa Infinite' as the "king" for cash back rewards now:

http://www.boomerandecho.com/scotia-...ing-in-canada/

I'm not sure I'm interested in it as it's got an annual fee and I don't spend a lot on groceries and gas anymore but it might be something some of you guys with larger families might be interested in.

[Cheese]

The best CC is the one with the lowest interest rate.

[DownhillGoat]

Originally Posted by Cheese

The best CC is the one with the lowest interest rate.

Only if you're paying interest on it...

[GP_Matt]

I prefer the 2% cash back cards over the cards that have a low normal rate and an increase for certain categories.

[blankall]

Ugghhh, my aeroplan points are so useless. The only saving grace is that I keep getting new cards with new bonuses. I've racked up 130k miles, but the travel is so restrictive, it's difficult to use them. On top of that, the miles don't cover taxes and fees on air travel, which has become 50%+ of the cost for many flights.

[Aleks]

Originally Posted by kunkstyle

Only if you're paying interest on it...

Exactly, who carries a balance??

[chemgear]

Originally Posted by Aleks

Exactly, who carries a balance??

A third of us. And when I say "us", I certainly don't mean CP members who we all know are the 1%ers.

http://www.cba.ca/en/media-room/50-b...3-credit-cards

[DuffMan]

I like this thread. thanks for starting it OP as I've had thoughts in the back of my head to look into my card, amongst many other thoughts.

I tried the money sense calculator and it suggested this

thoughts? right now I have a RBC low interest, zero rewards card. RBC low interest is around 10-% and the MNBA is 6% for the first 3 years

[Old Yeller]

Originally Posted by Aleks

Exactly, who carries a balance??

People who don't understand what compound interest means.

[squiggs96]

Originally Posted by Old Yeller

People who don't understand what compound interest means.

Luckily it's not debt if you paid for your house with your credit card.

[Cowperson]

Originally Posted by blankall

Ugghhh, my aeroplan points are so useless. The only saving grace is that I keep getting new cards with new bonuses. I've racked up 130k miles, but the travel is so restrictive, it's difficult to use them. On top of that, the miles don't cover taxes and fees on air travel, which has become 50%+ of the cost for many flights.

An RBC Avion card doesn't seem to have any flight restrictions and you can cover fees with points.

You can also search for and book your own flights right on the Avion Rewards site, including multiple destinations, or you can get help from a rep.

Cowperson

[blankall]

Originally Posted by Cowperson

An RBC Avion card doesn't seem to have any flight restrictions and you can cover fees with points.

You can also search for and book your own flights right on the Avion Rewards site, including multiple destinations, or you can get help from a rep.

Cowperson

Very interesting. Do they allow transfers of cards?

The only saving grace for Aeroplan is the gift cards. Last year they had a 50% off all gift cards sale. They have yet to have the same sale this year though

[Cowperson]

Originally Posted by blankall

Very interesting. Do they allow transfers of cards?

The only saving grace for Aeroplan is the gift cards. Last year they had a 50% off all gift cards sale. They have yet to have the same sale this year though

I doubt you can transfer points from Aeroplan.

Avion isn't a card you would carry a balance on and you should use it a lot to rack up points. I don't use cash or debit a lot except for very minor things.

http://www.rbcroyalbank.com/credit-c...num-avion.html

Note there can be some restrictions on the total compensated cost of a flight on certain distances, but I haven't found that to be a problem yet.

You can use their points for other things, including hotels and rental cars.

It might be for you or it might not be.

Cowperson

[Calgary '89]

Originally Posted by DownInFlames

I've said it before, but don't brag about the rewards you get with a card when you're using it to pay me. I pay higher merchant fees so you can get those rewards, and while I appreciate the business, you're just reminding me how much I have to pay someone for the privilege.

Who do you use for your payment processing? Your setup has a lot to do with how much you end up paying.

[FlamesAllTheWay]

Originally Posted by albertGQ

There is no annual fee & you get double points back if you use the card at Superstore & you get 7 cents in superbucks (instead of 3.5 cents) when you pay for your gas with this card.

What other cards offer a better cashback that has no annual fee?
I know ATB has a good no fee cash back card. But I don't really like to deal with ATB since they screwed up on my mortgage payout

Yes they have a Gold cashback MC. No annual fee, 1% cash back across the board. No limit on cash back either.

They also have a Platinum card. Has a 120 dollar fee, which seems pretty steep, but it's 3% cash back on gas, groceries, home improvement and pharmacy. Factoring all that in and you can almost get the 3% back on everything and without really restricting yourself to too many specific stores. For example, Superstore is considered a grocery store but they obviously sell more than just groceries. The liquor store counts as well I believe! Limit of 1500 cash back annually though.

Guess it would depend on how big of a CC spender you are to make sure you get enough cash back to off set the fee vs. no fee but less cash back.