Credit Card Recommendations

[lazy_programmer]

Originally Posted by rohara66

Anyone know if the $100 gift card is still available?

Amazon is giving a $75 gift card and first year fee waived.

http://www.amazon.ca/gp/product/B005...d_i=1000744301

[GP_Matt]

Are there any cards that give you Air Canada Altitude status or allow your points to count towards said status?

[DatSOOKin]

I'm guessing there is some sort of penalty in place for this (like maybe a credit score hit?), but what's stopping somebody from signing up for all these different credit cards to get the bonus ~$100 gift cards, and then just cancelling or not actively using the account?

[Regorium]

Originally Posted by DatSOOKin

I'm guessing there is some sort of penalty in place for this (like maybe a credit score hit?), but what's stopping somebody from signing up for all these different credit cards to get the bonus ~$100 gift cards, and then just cancelling or not actively using the account?

Nothing.

It's called churning. They're hoping that people that do this is in the minority, and the vast majority of people are going to be using their cards.

It kind of works - Like the double cashback promo for 3 months on my costco card means that I've put about $2000 a month on it for 3 months that I wouldn't have in the first place, and it's become a go-to card. However, I applied for both a scotiabank momentum and a scotiabank amex and just took the $100 gift card and canceled the cards without using it.

You are right that it may affect your credit score, but if you have the income to get these type of cards (the ones with 60-70k minimums), it's not going to affect you enough to really matter.

[caff]

Originally Posted by Calgary14

The $100 gift card offer has ended but there is a new offer of $70 cash back for anyone signing up for the Scotiabank Momentum Visa Infinite. They also waive the $99 annual fee for the first year. This means you'd get $169 in value for the first year plus all the cash back. This offer ends May 31.

Again, can't get the link to work for some reason so if anyone wants it PM me and I'll send it

Should it be $200 for travel + rebate?

[caff]

Originally Posted by Calgary14

The $100 gift card offer has ended but there is a new offer of $70 cash back for anyone signing up for the Scotiabank Momentum Visa Infinite. They also waive the $99 annual fee for the first year. This means you'd get $169 in value for the first year plus all the cash back. This offer ends May 31.

Again, can't get the link to work for some reason so if anyone wants it PM me and I'll send it

The $100 gift card offer is back again.

[Calgary14]

The $100 gift card promo for the Scotiabank Momentum Visa Infinite card is back. This time the gift card choices are Best Buy, Starbucks, Amazon or the Ultimate Dining Card (Swiss Chalet, Montanas, Kelseys, Harveys or Milestones). The annual fee for the first year ($99) is also waived. PM me if you want the link.

[Acey]

<3 my Scotiabank card, 4% cashback on groceries/gas are you kidding me. Every other card in Canada go home

[coaster]

You got me all excited for the Scotia card. So I phoned to apply and now that I am retired I don't meet the minimum annual income of $60,000.

[GP_Matt]

http://www.mbna.ca/credit-cards/over...ards/index.jsp
I think the MBNA Rewards World Elite is the best card on the market.
$89 annual fee
2% cash back on every dollar spent
$100 in points for signing up
Travel protection
Theft insurance and doubles the warranty period on most purchases (My brothers new bike was stolen, all he had to do was submit the police report and they refunded him the purchase price)

[VladtheImpaler]

Scotiabank momentum for gas/groceries
Capital one costco m/c for restaurants
Aspire m/c for everything else

4, 3 and 2% return respectively.

[Acey]

No fee and 5% back on the MBNA Smart Cash for the first six months, then ditch it and go back to an Infinite card which is $99 (first year) waived and 4% grocery/gas, 2% recurring payments, 1% all other purchases.

They're all kinda in the same ballpark.

[Acey]

Originally Posted by coaster

You got me all excited for the Scotia card. So I phoned to apply and now that I am retired I don't meet the minimum annual income of $60,000.

If you're willing to deal with the potential lack of usage of American Express, the Scotiabank Gold Amex card has potential for huge returns with no required annual income as far as I know. 4% back on the following, beating every card so far:

Gas Service Stations and Automated Fuel Dispensers; Grocery Stores and Supermarkets; Eating Places and Restaurants, Drinking Places, Fast Food Restaurants; and Entertainment including Motion Picture Theaters, Theatrical Producers, Ticket Agencies, Bands, Orchestras and Miscellaneous Entertainers.

Of course the true limitation is Amex merchants, listed here.

[Calgary14]

Here's the list of top cash back cards for 2014: http://www.moneysense.ca/debt/credit...-cards-of-2014

I can't find a list for 2015 but I assume it would be same/similar

[Daliwan]

The $100 gift card deal is not as good as this one if your are a big spender:

Originally Posted by caff

40k bonus miles and First Year Free for the Amex business gold card!

https://www.americanexpress.com/cana...gBHRcTCw%3D%3D

Earn 40,000 bonus Membership Rewards® points through this referral offer when you charge $5,000 in purchases to your Card in the first 3 months of Cardmembership8. Offer subject to change at any time plus, the first year’s on us! That’s a value of $250*!

I could not believe it when I saw this. It is too generous. Amex is really trying hard to gain customers.

[Calgary14]

Is the Amex Business Gold card a cash back card? Looks like you'd need to spend a ton to justify the $250 annual fee

[Acey]

Originally Posted by Calgary14

Is the Amex Business Gold card a cash back card? Looks like you'd need to spend a ton to justify the $250 annual fee

It earns points that you can redeem for cash back at 0.8%, significantly less than the good cards recently mentioned here. Better to redeem it for travel rewards at 1%, but it obviously isn't meant to be a personal card.

[Daliwan]

Originally Posted by Acey

It earns points that you can redeem for cash back at 0.8%, significantly less than the good cards recently mentioned here. Better to redeem it for travel rewards at 1%, but it obviously isn't meant to be a personal card.

Now Amex has transfer promo to BA Avios: 100 amex reward point = 125 BA Avios.

[Calgary14]

Capital One is offering 10,000 reward miles and a $75 gift card for their Capital One Aspire Travel World Elite Mastercard. I have the old version of the card and it pays 2% on all purchases, only drawback is the $120 annual fee

[Tyler]

I've never talked to someone who got rich on reward miles. Just credit card companies - Dave Ramsey