Credit Card Recommendations

[Kiran403]

Are there any Amex cards that have $0 fees or low fees? Thinking about getting one just to have on hand when buying tickets for events since a lot of them seem to have the Amex Front of the Line option.

[TSXCman]

Amex gold travel one I grabbed was $0 for first year ($120 I think normal, maybe more).

I got it for the bonus points then will be cutting it up.

Using RBC Visa Avion Platinum, which has 0 fees first year too, but it was a complicated promotion. get travel points as well.

The MBNA Smartcard may be the best for large purchases of Gas and Grocery. First 6 months gives like 5% back on those, then goes down to 2% after.

[nickerjones]

What's your suggestion for people with no credit history ( as in I just got a SIN) ? Just try to get student cards? My wife mentioned that RBC has a newcomers card. Any advice?

[cracher]

This is a heads-up for those considering switching their existing TD cards to the new TD aeroplan card.

Just converted over to the Aeroplan privilege card from my existing TD expedia points card. I was told that my expedia points would convert directly over to aeroplan points at a 4:1 ratio AND that it would count towards distinction. Furthermore, the 1st year fee is waived.

Well, a month later, I find out that converted points DO NOT count towards distinction... and there is NO fee waiver for the privilege card (there are, apparently, two other TD aeroplan cards that waive the fee, but not the one I got).

Ultimately, it's my fault for not reading up and just listening to the teller (who likely makes a commission for selling aeroplan cards)... still quite steamed over this.

[Daliwan]

Originally Posted by caff

There are so many competing offers in the market, so doubt Amex would end this promo.

You are right, the 30k Amex offer is still on.

[caff]

Originally Posted by Daliwan

You are right, the 30k Amex offer is still on.

They changed the SPG offer to 10k.

[Daliwan]

Originally Posted by caff

They changed the SPG offer to 10k.

Too bad, but it will come back.

[killer_carlson]

My business needs a visa for some online purchases we do from time to time. Don't want o use my personal one.

Suggestions as to what the best option or a business? I think there are less options for business than personal, but admit I have done very little to check the options. (hence my question)

[an hero]

Originally Posted by cracher

This is a heads-up for those considering switching their existing TD cards to the new TD aeroplan card.

Just converted over to the Aeroplan privilege card from my existing TD expedia points card. I was told that my expedia points would convert directly over to aeroplan points at a 4:1 ratio AND that it would count towards distinction. Furthermore, the 1st year fee is waived.

Well, a month later, I find out that converted points DO NOT count towards distinction... and there is NO fee waiver for the privilege card (there are, apparently, two other TD aeroplan cards that waive the fee, but not the one I got).

Ultimately, it's my fault for not reading up and just listening to the teller (who likely makes a commission for selling aeroplan cards)... still quite steamed over this.

TD has decent cards, and has a program for newcomers as well.

Personally, I prefer my Scene Visa, but I've already established credit over the last couple years.

[Calgary14]

Originally Posted by nickerjones

What's your suggestion for people with no credit history ( as in I just got a SIN) ? Just try to get student cards? My wife mentioned that RBC has a newcomers card. Any advice?

Most banks have an entry level card that is geared towards those with little or no credit history. I have the BMO air miles mastercard and the qualifications are low. I no longer use it as my main rewards card as I've switched to cash back, but most cash back cards have a bit tighter requirements

[Daliwan]

Originally Posted by killer_carlson

My business needs a visa for some online purchases we do from time to time. Don't want o use my personal one.

Suggestions as to what the best option or a business? I think there are less options for business than personal, but admit I have done very little to check the options. (hence my question)

TD has a new Aeroplan business visa. It offers 20k Aeroplan bonus miles for signing up now.

[Wormius]

Is the consensus still that the Scotiabank Momentum Infinite Visa is still the top for cash rewards cards?

[Daliwan]

Originally Posted by Wormius

Is the consensus still that the Scotiabank Momentum Infinite Visa is still the top for cash rewards cards?

It really depends on your spending pattern. If you do more grocery shopping Smart Cash is the best.

[Wormius]

Originally Posted by Daliwan

It really depends on your spending pattern. If you do more grocery shopping Smart Cash is the best.

Yes. Is there a version that has 5% cash back as a permanent perk? The one I found had a intro. rate of 5% and then 2% after 6 months, whereas the Visa was 4% "forever".

[Daliwan]

Originally Posted by Wormius

Yes. Is there a version that has 5% cash back as a permanent perk? The one I found had a intro. rate of 5% and then 2% after 6 months, whereas the Visa was 4% "forever".

No, there is no 5% cash back as a permanent perk.

[caff]

Originally Posted by Wormius

Yes. Is there a version that has 5% cash back as a permanent perk? The one I found had a intro. rate of 5% and then 2% after 6 months, whereas the Visa was 4% "forever".

I do not think that will ever happen.

[VladtheImpaler]

Another bump. The fanciest cards in Canada seem to be these Visa Infinite Privilege cards (e.g. RBC one: http://www.rbcroyalbank.com/credit-c...privilege.html). But it looks like the Capital One Aspire World is still the best return, especially if you churn a lot of dollars through the card. Has anyone actually sat down and figured out which card gives the most back if you spend, say, $60K per year?
I guess it's not that hard... Aspire costs $120, gives you 10k points every year and gives you 2 points/$. Then you get $1 travel for every 100 points. So, at $60K per year spend you get 130,000 points = $1300-$120 fee = $1,180 return.
The Infinite Privilege gives 1.25 points/$ and costs $399, so 80,000 points per year. What is that worth in flights these days? That's where my comparison breaks down... Is 80,000 points worth $1,500? That would give an annual return of $1,101. Does that seem accurate - can some of you point redemption experts comment?

[I-Hate-Hulse]

Back in the day when I used to travel on business a ton and was able to charge it to my personal card - this would have been worth it.

The 1.25% isn't worth it for $399 - you'd have to get value from the non financial perks, the biggest which is of this:

Air Canada® 5 benefits such as:
Priority Check-in on Air Canada flights (Primary Cardholder)
Priority Boarding on Air Canada flights (Primary Cardholder)
1st Checked Bag Free on Air Canada Flights (Primary Cardholder)
Four (4) annual Maple Leaf Lounge One-Time Guest Passes when travelling on an Aeroplan flight reward operated by Air Canada
One (1) annual 50% Discount on Companion Tickets for eligible Business Class fares on Air Canada Flights

However, I'm more apt to travel with family now and the above benefits have zero appeal to me - can't exactly ditch them to head into the ML Lounge solo. I have the vaunted 2% on everything no limit AMEX / $99 fee so this Visa definately doesn't have any appeal for me.

That said, the TD points are far better and easier to redeem instead of Aeroplan. Redeeming those for actual flights is hopeless. Safeway Airmiles are slightly better but still never have flights when you need them.

[Wormius]

We decided to go with the Scotia Infinite Momentum, and have been pleased so far with the value of it for groceries, gas, and recurring bills. We use it in conjunction with the Amex Tru Earning, which unfortunately not a lot of restaurants take, but the 3% on restaurants and Costco gas is pretty good.

[-TC-]

I have a CIBC Dividend Unlimited card....I like the flexibility of the cash back. I use it for business expenses so I run enough through the account to get a decent dividend every year.