What credit cards have the best rewards?

[Wormius]

Originally Posted by shermanator

Yup, but I don't mind paying $20 a year to get $120 back. I guess it depends on how much people use their credit card. I don't like racking up huge credit bills either way.

The MBNA card is $89 annually with 2% cash back on everything. The RBC card is $20 annually with 1% cash back on everything.

For me, this works. For others, it probably doesn't.

Sidenote, does anyone pay their bills via credit? For example, if I pay Enmax / Rogers / Shaw through Visa, then immediately pay off the Visa, would this get me cash back?

You can pay Enmax with a credit card? When did that become an option?

Or were you thinking of paying via a cash advance and then paying that off right away before the 25% daily interest starts kicking in.

[shermanator]

Originally Posted by Wormius

You can pay Enmax with a credit card? When did that become an option?

Or were you thinking of paying via a cash advance and then paying that off right away before the 25% daily interest starts kicking in.

I've never done this before to be honest, just curious. What I was thinking of doing, is instead of paying my bills online using my bank account, I pay them using my credit card, then pay my credit card using my bank account.

I'm pretty sure that doesn't get cash back.

Regarding the MBNA World Points World, I was taking the $89 quote from this thread. If it's free, it's definitely a better deal! Unfortunately, not everyone makes 70k a year and up.

[getbak]

Originally Posted by shermanator

I've never done this before to be honest, just curious. What I was thinking of doing, is instead of paying my bills online using my bank account, I pay them using my credit card, then pay my credit card using my bank account.

I'm pretty sure that doesn't get cash back.

That will get you cash back if the company accepts credit card payments (which Shaw does, but Enmax doesn't).

You don't get cash back on cash advances from your card and you don't get an interest-free grace period either, so there's no benefit to paying your bills will cash advances.

[VladtheImpaler]

Originally Posted by getbak

That will get you cash back if the company accepts credit card payments (which Shaw does, but Enmax doesn't).

You don't get cash back on cash advances from your card and you don't get an interest-free grace period either, so there's no benefit to paying your bills will cash advances.

Telus does too in case anyone is with them.

[getbak]

Originally Posted by VladtheImpaler

Telus does too in case anyone is with them.

As does Virgin Mobile (which, I assume also means Bell does).

Currently, I pay my monthly bills from Virgin, Shaw, and my Flames Season Tickets with my credit card, and receive points for all three.

[DownhillGoat]

Originally Posted by VladtheImpaler

Telus does too in case anyone is with them.

As does Bell.
Frustrating that more companies don't.

[bizaro86]

I definitely see the preference here is for straight cashback cards, but I have to put in a word for Starwood's SPG American Express. You get one SPG point per dollar spend, and the points are good for hotel stays at Sheraton, Westin, Le Meridien, etc hotels, or you can trade them for airline miles (aeroplan etc).

I use them for hotels at peak periods, and get easily 5% back on all my purchases. The 5 nights free at the Le Meridien Khao Lak over new years was even better than that.

The card has a $120 annual fee, but if you call and say you're upset about the feel they'll give you bonus points and/or gift cards. (Last year my wife got $100 GC to Future shop). It can be a great deal if you have hotel stays you'd otherwise pay cash for...

[kevman]

I'm a fan of the Capital one Aspire card previously mentioned. If you use it on travel it works out to 2% back (1.5% back if you take the cash reward) and the annual fee of $120 comes with 10,000 anniversary reward miles so in reality it's only costing you $20/year. Finally the 35,000 bonus award is not a bad gig. It's also incredibly painless to claim your miles - just select a qualifying transaction online and click apply!

I compared it to the MBNA smart cash card but that only gives 3% on gas and grocery (after the 5% period) and I believe 1% on everything else. If you're like me and spend most of your money on frivolous purchases the 1% on everything else simply doesn't cut it!

[VladtheImpaler]

Originally Posted by kevman

I'm a fan of the Capital one Aspire card previously mentioned. If you use it on travel it works out to 2% back (1.5% back if you take the cash reward) and the annual fee of $120 comes with 10,000 anniversary reward miles so in reality it's only costing you $20/year. Finally the 35,000 bonus award is not a bad gig. It's also incredibly painless to claim your miles - just select a qualifying transaction online and click apply!

I compared it to the MBNA smart cash card but that only gives 3% on gas and grocery (after the 5% period) and I believe 1% on everything else. If you're like me and spend most of your money on frivolous purchases the 1% on everything else simply doesn't cut it!

I use the MBNA for gas/groceries and Aspire for everything else.

[kevman]

Originally Posted by VladtheImpaler

I use the MBNA for gas/groceries and Aspire for everything else.

Yeah as far as I can tell that's the best combo around. The only problem is both cards are MC and sometimes, although rarely, you need a VISA. So I use a VISA, although less lucrative, equivalent to the MBNA smart cash. I guess you could always get a 3rd card but I don't have a Costanza wallet...

[flamesflames444]

Originally Posted by bizaro86

I definitely see the preference here is for straight cashback cards, but I have to put in a word for Starwood's SPG American Express. You get one SPG point per dollar spend, and the points are good for hotel stays at Sheraton, Westin, Le Meridien, etc hotels, or you can trade them for airline miles (aeroplan etc).

I use them for hotels at peak periods, and get easily 5% back on all my purchases. The 5 nights free at the Le Meridien Khao Lak over new years was even better than that.

The card has a $120 annual fee, but if you call and say you're upset about the feel they'll give you bonus points and/or gift cards. (Last year my wife got $100 GC to Future shop). It can be a great deal if you have hotel stays you'd otherwise pay cash for...

+1 on the SPG Amex. I did have this car when it first came out as they were offering the first year free + 20K in SPG points. I think the current promo now is 15K in SPG points, but you have to pay the $120 fee. The return on the points in North America is a little lower than in Europe where it saved me a ton of cash last summer. For example, the Westin in Rome and Florence were at the time 12k per night, but the rooms paying in cash would be $4-500 EURO per night. Same thing with the Sheraton resort in the Algarve, Portugal which was only 10K per night but a whopping $600 EURO during peak summer holidays.

Bang for the buck in Calgary isnt' so great as I think the Sheraton Eau Claire and Westin are 12k/night, but that is also in line with the Westin Times Square which I booked for 12k/night for this upcoming May long weekend as opposed to paying $400+/night.

Once my free year was over, I switched to the Amex Gold Travel Rewards Card which is decent if you sign up during a decent promo, but imo, if one likes to travel and stay at nicer hotels, the SPG Amex is the best bang for the buck relative to the annual fee.

[aaronck]

Originally Posted by Old Yeller

Interesting, I'm glad I came into this thread. Right now my wife and I both have an Airmiles Gold Mastercard which gives 1 airmile for every $15 spent, but it's got a $99 annual fee.

My wife has always been keen on collecting airmiles, but I'm starting to think it's somewhat gimmicky and especially with the annual fee tacked on.

I had that as well, you can cancel the premium service, and get 1 airmile for $20 spent for free. Seems a much better deal.

[Notorious Honey Badger]

Airmiles are bogus. Cashback is really the way to go. Spend your money how you want. RBC westjet has to be the worst deal out there... 1 dollar for every 100 spent... so ya, you're always getting 1% and you HAVE to spend it on westjet. with no annual bonus. ummm wheres the value??? get a freaking scotabank card and get 3% or better cashback on gas and grocery.

the big banks have terrible travel cards in comparison to aspire.

[FlameOn]

Probably not the best deal but I'm on a blue skies AMEX right now with 1.25% back on travel and no fees. Travel expenses are reimbursed back to you no matter where/when you booked and with who as just a deduction on your AMEX balance. I've liked the card so far since there are no fees and the card is transparent.

Are premium fee cards a much better deal that's worth the extra fees?

[red sky]

Originally Posted by aaronck

I had that as well, you can cancel the premium service, and get 1 airmile for $20 spent for free. Seems a much better deal.

But the gold card allows you to use 25% less airmiles when booking flights.

[Notorious Honey Badger]

I cancelled my gold card 7 months ago and airmiles.ca stlil thinks im a gold member

[Crazy Bacon Legs]

I applied for the Aspire One World Mastercard last night. I was reminded to do that here. So thanks.

It was kind of hard. I have always been a VISA guy. But I want a quality points program. MasterCard sounds vaguely authoritarian, and VISA sounds like freedom. But I have never been one to let philosophy trump practicality. You are my new Master, Card.

On the plus side, I will have enough RBC points to get two $250 FutureShop Gift certificates before I quit using that card. I will probably get 32 hand-crank flashlights for $15 each. It will give me exercise and I will have almost no electricity bill for lighting up my house at night. Thanks RBC Rewards!

[Larry MacDonald]

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.

Yet you're allowing customers to use those high end premier credit cards at your business.

so as a consumer, that is not my problem

[DownInFlames]

Originally Posted by Larry MacDonald

Yet you're allowing customers to use those high end premier credit cards at your business.

so as a consumer, that is not my problem

There's no problem on my end either. I happily take rewards cards, and use them myself. I just want people to be cognizant of the fact that the money you get back isn't the result of the credit card companies being generous. It's surprising how many people don't know how they actually work.

[Notorious Honey Badger]

Originally Posted by Crazy Bacon Legs

I applied for the Aspire One World Mastercard last night. I was reminded to do that here. So thanks.

It was kind of hard. I have always been a VISA guy. But I want a quality points program. MasterCard sounds vaguely authoritarian, and VISA sounds like freedom. But I have never been one to let philosophy trump practicality. You are my new Master, Card.

On the plus side, I will have enough RBC points to get two $250 FutureShop Gift certificates before I quit using that card. I will probably get 32 hand-crank flashlights for $15 each. It will give me exercise and I will have almost no electricity bill for lighting up my house at night. Thanks RBC Rewards!

Doing the same thing. Switching from Avion to Aspire, now I have to get rid of 56,000 RBC rewards. I wish I transferred them to AAdvantage a couple months ago and didn't miss the 1.3 bonus.

That being said, 56k will get me to Nashville or the deep south twice for 128 dollars total. So it's well worth it I suppose.