Quote:
Originally Posted by I-Hate-Hulse
I've had the mythical Capital One card for what has to be 15 years and put a crazy amount on it during that time. My target has always been to return 2% on cards.
Sadly, I think the decrease in interchange rates from 1.9 to about 1.5% means the days of a 2% return card are numbered. I looked at the Rogers and the MBNA cards closer and it looks like the MBNA needs you to redeem points through their travel site which is overpriced. Rogers looks pretty good, but at a 1.5% rate it's equivalent to the Capital One - the real savings is the no annual fee. Not sure a $100 annual fee is worth dropping cards. The C1 has a great app and is super easy to redeem points - worth considering if you switch cards.
I have the WJ card too as a backup card but as I don't see us flying for the next 2 years I'm loathe to concentrate spend on it and give WJ any more money (as we have a lot of credits with them)
So for now I think I'll stick with the Capital One until a fully featured 2% card comes out.
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HSBC World Elite pays you a $100 annual bonus and you redeem points by erasing balance just like the C1 (no proprietary travel sites with bad point to dollar values), but it pays at 1.5% only for all purchases except travel which is 3%. It's equivalent to the C1 but at a lower rate, unless you do a crap ton of travelling.