01-31-2015, 08:25 PM
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#301
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Franchise Player
Join Date: Feb 2011
Location: Somewhere down the crazy river.
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Funny story. I used PC Points to buy about $350 in HBC gift cards. Couldn't use 7 $50 gift cards in a single transaction on HBCs website, so could only use 2 gift cards at a time. So I had to buy 3 $100 gift cards and then later a $200 and $150 and then finally my $350 purchase. All the while, I was getting HBC points on purchasing HBC gift cards with HBC gift cards. I imagine this could have gone in forever, but I did have a purpose and didn't want to devote a lot of time to this since each of these purchases took a day to process.
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02-05-2015, 04:34 PM
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#302
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Backup Goalie
Join Date: Apr 2013
Exp: 
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Quote:
Originally Posted by Daliwan
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Got the card, but the $120 annual fee is not waived.
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02-05-2015, 05:51 PM
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#303
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First Line Centre
Join Date: Apr 2009
Location: Calgary.
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Quote:
Originally Posted by Wormius
Technically it's a deduction off your credit card bill. At least that's what happened with my rebate last year. I don't know if that's the norm, but doesn't matter to me since I had to pay the credit card bill off anyway.
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A bit late circling back to this, but can confirm that I got a nice fat deposit of cash into my bank account. Perhaps its because I don't carry a balance, but all the paperwork (when I signed up) said "Cash". Dunno, maybe we signed up at different times with different rules?
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02-05-2015, 05:58 PM
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#304
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First Line Centre
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Quote:
Originally Posted by WilsonFourTwo
A bit late circling back to this, but can confirm that I got a nice fat deposit of cash into my bank account. Perhaps its because I don't carry a balance, but all the paperwork (when I signed up) said "Cash". Dunno, maybe we signed up at different times with different rules?
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When I get my cash back each year (Scotiabank Momentum Visa Infinite) it's just a credit off my current balance, not cash in my bank account. Last year it was almost $600. I don't carry a balance either. But I don't bank with Scotia so maybe if I did it would go to my bank account since they would be linked?
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02-05-2015, 06:29 PM
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#305
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Crash and Bang Winger
Join Date: Mar 2004
Location: Calgary
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Quote:
Originally Posted by Calgary14
When I get my cash back each year (Scotiabank Momentum Visa Infinite) it's just a credit off my current balance, not cash in my bank account. Last year it was almost $600. I don't carry a balance either. But I don't bank with Scotia so maybe if I did it would go to my bank account since they would be linked?
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I bank with Scotia and it gets deposited into my chequing account.
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02-05-2015, 06:44 PM
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#306
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Franchise Player
Join Date: Feb 2011
Location: Somewhere down the crazy river.
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If you have it deposited, as opposed to being a credit on your card statement, is it taxable? This seems like one of the perks of having credits as opposed to actual "cash".
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02-05-2015, 07:23 PM
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#307
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Lifetime Suspension
Join Date: May 2014
Location: Calgary
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I don't bank with ScotiaBank but did apply for their infinity momentum card, Does any one know anything about being able to open up a "dummy client card?" That way the cash could be deposited in there and check transactions online Anyone know if this is a possibility?
Last edited by cupraisedn89; 02-05-2015 at 07:40 PM.
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02-06-2015, 06:48 PM
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#308
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First Line Centre
Join Date: Apr 2009
Location: Calgary.
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Quote:
Originally Posted by Wormius
If you have it deposited, as opposed to being a credit on your card statement, is it taxable? This seems like one of the perks of having credits as opposed to actual "cash".
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That's actually a pretty interesting point!
I'll be sure to claim it on my taxes this year.... 
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02-06-2015, 07:12 PM
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#309
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Franchise Player
Join Date: Oct 2001
Location: Calgary, AB
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Quote:
Originally Posted by cupraisedn89
I don't bank with ScotiaBank but did apply for their infinity momentum card, Does any one know anything about being able to open up a "dummy client card?" That way the cash could be deposited in there and check transactions online Anyone know if this is a possibility?
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No need to have a client card to see your Scotiabank credit card transactions online. They will call you and make it sound like you do, but it's not. You can have your cashback go on your credit card balance.
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02-06-2015, 10:10 PM
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#310
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Franchise Player
Join Date: Feb 2011
Location: Somewhere down the crazy river.
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Quote:
Originally Posted by WilsonFourTwo
That's actually a pretty interesting point!
I'll be sure to claim it on my taxes this year.... |
I didn't know it was a choice. I thought you might get a T5 (?) in the mail like you do with income accrued in savings accounts.
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02-07-2015, 07:45 AM
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#311
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First Line Centre
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Quote:
Originally Posted by Wormius
If you have it deposited, as opposed to being a credit on your card statement, is it taxable? This seems like one of the perks of having credits as opposed to actual "cash".
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Generally reward points (including cash back) are not taxable on a personal level. However they become taxable if you use a company credit card controlled by the company and you get to use the reward points from the card, then they get included in your T4.
Here's more info:
http://www.cra-arc.gc.ca/tx/bsnss/tp.../menu-eng.html
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02-09-2015, 10:24 AM
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#312
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Franchise Player
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Not credit card related, but I got a letter from TD telling me they are raising the interest rate on my line of credit. wtf?! prime just went down.
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02-11-2015, 11:19 AM
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#313
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First Line Centre
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Capital One has discontinued their popular Aspire Travel World Mastercard and replaced it with a not-so-great version:
http://www.capitalone.ca/credit-card...l-world-elite/
The old card gave 2 reward miles for every $1 in spending which essentially worked out to 2% back. It had a $120 annual fee but also gave 10,000 reward miles each year as a bonus and 35,000 reward miles for anyone who signed up (which has since been taken away)
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02-11-2015, 05:16 PM
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#314
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Loves Teh Chat!
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Quote:
Originally Posted by Calgary14
Capital One has discontinued their popular Aspire Travel World Mastercard and replaced it with a not-so-great version:
http://www.capitalone.ca/credit-card...l-world-elite/
The old card gave 2 reward miles for every $1 in spending which essentially worked out to 2% back. It had a $120 annual fee but also gave 10,000 reward miles each year as a bonus and 35,000 reward miles for anyone who signed up (which has since been taken away) |
So the only change is a cut to the annual reward bonus? Still, lame. Made the annual fee work out to only $20.
Looks like they're grandfathering anybody that has the Aspire World, so at least there's that.
http://forums.redflagdeals.com/capit...ed-897409/399/
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02-11-2015, 05:39 PM
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#315
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Franchise Player
Join Date: Jul 2003
Location: Sector 7-G
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Quote:
Originally Posted by Torture
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That's how I'm reading it, the Annual Fee seems to be the only change. Still makes this a good card for the 2% on everything factor (vs 1%), assuming you're spending big amounts on it.
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02-11-2015, 06:03 PM
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#316
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First Line Centre
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Quote:
Originally Posted by Torture
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Two key changes: bonus for new customers dropped from 35,000 to 10,000 reward miles.....and no more 10,000 reward mile annual bonus. The annual fee of $120 stays. I'm glad I got approved last week, I just hope capital one doesn't go back on that.
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02-11-2015, 06:26 PM
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#317
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Crash and Bang Winger
Join Date: Oct 2011
Location: CGY
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I just got a Scotiabank Infinite Visa card, to go along with my Capital One Vibe Mastercard. The Visa will be my primary card. Is there any point to keeping the second card (Vibe) if the first card's limit will satisfy all my financial needs? Will my credit score increase if I buy one thing a month on my Vibe card and pay it off every month?
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02-11-2015, 06:35 PM
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#318
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First Line Centre
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Quote:
Originally Posted by DatSOOKin
I just got a Scotiabank Infinite Visa card, to go along with my Capital One Vibe Mastercard. The Visa will be my primary card. Is there any point to keeping the second card (Vibe) if the first card's limit will satisfy all my financial needs? Will my credit score increase if I buy one thing a month on my Vibe card and pay it off every month?
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I'd keep the Mastercard. It can be handy for places that don't accept Visa (ie. Costco) and yes, if you keep your balances low and pay them off monthly your credit score will eventually go up. Plus, depending on how long you've had the Mastercard it may lower your credit score if you close it because your credit utilization rate will go up.
The Scotiabank Momentum Visa Infinite is a great card and you can still get a free $100 gift card for new customers (PM me if you want the link)
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02-11-2015, 07:22 PM
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#319
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Scoring Winger
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It'll be interesting to see what new card comes out to take the #1 spot the Capital One Aspire MasterCard had for the past 4-5 years.
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02-11-2015, 07:53 PM
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#320
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First Line Centre
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Quote:
Originally Posted by JackJack
It'll be interesting to see what new card comes out to take the #1 spot the Capital One Aspire MasterCard had for the past 4-5 years.
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For overall rewards it's tough to gauge but for cash back Scotiabank Momentum Visa Infinite has won the #1 spot for a couple years now
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