Credit Card Recommendations

[Calgary14]

The Scotiabank Momentum Visa Infinite card is tops for cash back.

It pays 4% cash back on gas/groceries, 2% on recurring payments/drug store purchases and 1% on everything else (no limits). The card has an annual fee of $99.

You can now get a $100 gift card for Amazon, Starbucks, Future Shop or the Ultimate Dining Card (Swiss Chalet, Montana's, Kelsey's, Harvey's or Milestones) if you sign up now. With the first year fee waived this means you can get $200 savings.

I have the card and earned almost $600 last year in cash back. My only regret is that they didn't have this offer when I signed up.

PM me if you want the link (I tried to post it but keep getting an error message)

[WilsonFourTwo]

Amazing to see the SB Momentum Visa Infinite now waiving the first fee AND giving away a gift card. The VISA by itself is absolutely incredible, the giveaways make it the ultimate 'No Brainer'.

FWIW, single guy, reasonably disciplined about putting everything I can through the VISA, and last year netted about $800. Just an amazing card. There isn't a points/travel card that rewards you this well, and it's CASH. Do with it as you like!

[JohnnyO]

Originally Posted by Daliwan

Amex increased SPG card sign up bonus from 10k to 20k which is good for 5 free nights:

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

isn't the link is a nice way for you to get 5000 referal points.

It is a good deal for the SPG points.

[White Out 403]

I probably know the answer already but, me and my fiance would be flying to Nova Scotia every year in the summer. With the RBC companion fare for 99 bucks, that makes the RBC WesJet card a no brainer right? Say the flight to Halifax is 750.... that means I save 650 every year? + the rewards?

[Simanium]

Originally Posted by Calgary14

The Scotiabank Momentum Visa Infinite card is tops for cash back.

It pays 4% cash back on gas/groceries, 2% on recurring payments/drug store purchases and 1% on everything else (no limits). The card has an annual fee of $99.

Pro-Tip for the Scotiabank Momemtum Infinite Card: Safeway has many gift cards that you can purchase while earning 4% cashback. If you regularly frequent a restaurant or are making a big purchase from Best Buy or Future Shop or wherever, you can purchase gift cards at Safeway and collect 4% cashback and use the gift cards for your purchases, instead of using your Visa directly at the merchant and earning only 1% cashback.

[Calgary14]

Originally Posted by Simanium

Pro-Tip for the Scotiabank Momemtum Infinite Card: Safeway has many gift cards that you can purchase while earning 4% cashback. If you regularly frequent a restaurant or are making a big purchase from Best Buy or Future Shop or wherever, you can purchase gift cards at Safeway and collect 4% cashback and use the gift cards for your purchases, instead of using your Visa directly at the merchant and earning only 1% cashback.

Good point. I forgot to mention that. Any time I make a large purchase at best buy, clothes shopping, Starbucks etc I always buy the gift cards at Safeway to get the 4% cash back.

[Fire]

Originally Posted by Calgary14

Good point. I forgot to mention that. Any time I make a large purchase at best buy, clothes shopping, Starbucks etc I always buy the gift cards at Safeway to get the 4% cash back.

You also get the 4% cash back for gift cards at Superstore or any grocery store. Note: Walmart is not considered a grocery store.

[Calgary14]

Originally Posted by Fire

You also get the 4% cash back for gift cards at Superstore or any grocery store. Note: Walmart is not considered a grocery store.

Walmart is considered grocery in the US (Walmart Super Center) but unfortunately not here

[WilsonFourTwo]

Originally Posted by Resurrection

I probably know the answer already but, me and my fiance would be flying to Nova Scotia every year in the summer. With the RBC companion fare for 99 bucks, that makes the RBC WesJet card a no brainer right? Say the flight to Halifax is 750.... that means I save 650 every year? + the rewards?

Yes and No. It's a $99 fare, but you still pay the taxes and fees. I make that flight 4 or 5 times a years and the FARE on the summer flights will be in the $400 range.

Definitely a good card (easily the best domestic travel rewards card) and I highly recommend it. Came very, very close to cancelling my SB Momentum Infinite for it.

Play with a couple of calculators (Westjet has one, Scotia has one) and see how they shake out. Given that the SB Visa is waiving the fee, I'd be flabbergasted if it didn't give stronger value overall.

[cupraisedn89]

Great information guys! I'm definitely looking into the Scotiabank Momentum Visa
I've currently been using the capital one aspire card, 1% cash back on everything with 0 annual fees. $50 sign up bonus plus 25% anniversary bonus yearly. I use this for pretty much all expenses (pay off the total amount monthly) and have about $700 in cash back saved up in 2 years.

[cupraisedn89]

Originally Posted by Calgary14

The Scotiabank Momentum Visa Infinite card is tops for cash back.

It pays 4% cash back on gas/groceries, 2% on recurring payments/drug store purchases and 1% on everything else (no limits). The card has an annual fee of $99.

You can now get a $100 gift card for Amazon, Starbucks, Future Shop or the Ultimate Dining Card (Swiss Chalet, Montana's, Kelsey's, Harvey's or Milestones) if you sign up now. With the first year fee waived this means you can get $200 savings.

I have the card and earned almost $600 last year in cash back. My only regret is that they didn't have this offer when I signed up.

PM me if you want the link (I tried to post it but keep getting an error message)

Just got approved for this one, I used my capital one aspire for almost everything and ensured my balances were always payed off by the end of the month so gonna make this ####### work to my advantage. Went for the Amazon gift card as well.

[Wormius]

Originally Posted by WilsonFourTwo

Amazing to see the SB Momentum Visa Infinite now waiving the first fee AND giving away a gift card. The VISA by itself is absolutely incredible, the giveaways make it the ultimate 'No Brainer'.

FWIW, single guy, reasonably disciplined about putting everything I can through the VISA, and last year netted about $800. Just an amazing card. There isn't a points/travel card that rewards you this well, and it's CASH. Do with it as you like!

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.

I switch betwen the Visa for nearly everything, and the Costco Capital One MC for restaurants and Costco gas. Though usually Coop and Superstore are sometimes a wee bit better after factoring in the 4% back and however many cents per litre in Coop / Superbucks coupons..

[I-Hate-Hulse]

Originally Posted by Calgary14

It pays 4% cash back on gas/groceries, 2% on recurring payments/drug store purchases and 1% on everything else (no limits). The card has an annual fee of $99.

While it depends on your spend pattern of course, the measly 1% on the "everything" category makes SB Momentum a card a compete dud IMHO. So much of my spend (including Costco) gets put into the "everything" category - that's where my big ticket expenses get categorized.

An overall return of 2% is the minimum for me which the Capital One Aspire World Travel does (for travel redemption). For cash back requests I believe it's still 1.5%. Throw in the fact that you're given annual points for your annual fees - I gotta say, it's the best card out there overall by a long shot.

[Calgary14]

Originally Posted by I-Hate-Hulse

While it depends on your spend pattern of course, the measly 1% on the "everything" category makes SB Momentum a card a compete dud IMHO. So much of my spend (including Costco) gets put into the "everything" category - that's where my big ticket expenses get categorized.

An overall return of 2% is the minimum for me which the Capital One Aspire World Travel does (for travel redemption). For cash back requests I believe it's still 1.5%. Throw in the fact that you're given annual points for your annual fees - I gotta say, it's the best card out there overall by a long shot.

Is the capital one aspire travel world card cash back? I thought it had restrictive travel rewards only that are tiered

[I-Hate-Hulse]

Originally Posted by Calgary14

Is the capital one aspire travel world card cash back? I thought it had restrictive travel rewards only that are tiered

This blog does a great job of going through why the features of the Capital One Aspire travel. I see so many people on the new Capital One Costco MC - and I don't understand why anyone would pick that over this.

http://www.milliondollarjourney.com/...ard-review.htm

Yes points can be redeemed for cash @ a 1.5% rate. Buy if you travel a decent amount why forego the 2% rate?

For travel, yes it is tiered, but how hard is it to spend $600 travelling nowadays? (the level at which there tiers don't apply).

[Torture]

Originally Posted by I-Hate-Hulse

This blog does a great job of going through why the features of the Capital One Aspire travel. I see so many people on the new Capital One Costco MC - and I don't understand why anyone would pick that over this.

http://www.milliondollarjourney.com/...ard-review.htm

Yes points can be redeemed for cash @ a 1.5% rate. Buy if you travel a decent amount why forego the 2% rate?

For travel, yes it is tiered, but how hard is it to spend $600 travelling nowadays? (the level at which there tiers don't apply).

What he said. I've got one and use it as my primary card. Cashed in some points last summer.
You buy your flights (or whatever else) and then just ask for it be credited. Couldn't be easier.

[Calgary14]

The optimal combination of cards (for most) would be the scotiabank momentum visa infinite for gas/groceries (4%) and the capital one aspire for everything else (2%)

[I-Hate-Hulse]

Originally Posted by Calgary14

The optimal combination of cards (for most) would be the scotiabank momentum visa infinite for gas/groceries (4%) and the capital one aspire for everything else (2%)

That depends... For the incremental 2% on gas groceries, lets assume:

Monthly groceries spend - 500 x 12 x 2% = $120
Monthly gas spend - $500 x 12 x 2% = 120

This is based on a family of 2-3. Is it worth carrying two cards for the extra $120 - I'd say no, but everyone's threshold is different.

EDIT - factor in the loss from only getting 1% (vs 2%) on the SB Momentum for "other" spending - it's a complete wash and possibly a decisive factor in why the Aspire is better.

That said, Capital One's customer service is brutal...

[blueski]

Originally Posted by Calgary14

Walmart is considered grocery in the US (Walmart Super Center) but unfortunately not here

Does anyone know if you can buy Walmart gift cards at Safeway our Superstore?

[blueski]

Originally Posted by blueski

Does anyone know if you can buy Walmart gift cards at Safeway our Superstore?

So looking into this a bit more. Apparently Safeway will let you purchase a pre-paid visa. Here's what I'm thinking:
1) Sign up for scotia bank infinite visa
2) Purchase up to 25k in pre-paid visa cards with it. Just be sure to pay your monthly balance on time!
Here on the safeway.ca site it lists a prepaid visa as one of the cards they sell:
https://www.safeway.ca/giftcard09.asp

3) Use the pre-paid visa every where. Costco, Any gas station and so on. Even pay your typical re-curring charges with it. All at 4% cash back.
4) After the 25k is used up, repeat above but only get 2% back.

So, Has anyone ever tried this?
Can you make mortgage payments with a prepaid visa?

edit:
Apparently merchants are closing this loophole:
http://www.giftcards.com/gcgf/cash-off-giftcards
Just Plain Sneaky. A customer uses their credit card to buy prepaid cards at the grocery store in order to rack up gasoline perks from the store or airline miles from the credit card company (or both). Then, the buyer takes the prepaid card to an ATM to withdraw cash. The cash is then used to pay off the balance of the credit card. With merchants tracking prepaid purchasers, abusers of the system can be found. Also, merchants are increasingly closing this loophole by requiring that prepaid cards be purchased with debit cards instead of credit. Since gift cards can’t be used to obtain cash, the loophole doesn’t work.

Also prepaid visa or visa gift cards have fees which makes it a wash.

Great Thread!