Credit Card Recommendations

[Gundo]

Just wanted to bump this thread looking for an optinions on a general day to day credit card recommendation it won’t see more than $5,000/year in purchasing done on it. Thanks

[Wormius]

Originally Posted by Gundo

Just wanted to bump this thread looking for an optinions on a general day to day credit card recommendation it won’t see more than $5,000/year in purchasing done on it. Thanks

What are you missing from the current set of cards? Do you need a no-foreign-exchange fees or anything? You probably won’t end up using many points or cash back for only $5k a year. There’s is an interesting one from Scotiabank with no currency exchange fees, and some airport lounge accesses, but it has a yearly fee.

[jtfrogger]

Originally Posted by Gundo

Just wanted to bump this thread looking for an optinions on a general day to day credit card recommendation it won’t see more than $5,000/year in purchasing done on it. Thanks

There are a couple no fee cards that give a reasonable amount back.

Off the top of my head, here are a couple you might want to consider:

• Tangerine If most of your spend lands in 2-3 categories, you'll get 2% cash back on those.
• Rogers Platinum MC You get 1.25% back on all categories. For foreign currency transactions, it is a net rebate of 0.5% (3% back, but 2.5% forex fee). Unless you qualify for the World Elite. That one is even better, and also no fee.

[DownhillGoat]

Originally Posted by jtfrogger

Unless you qualify for the World Elite. That one is even better, and also no fee.

That one doesn't look too bad.

I'm tired of dealing with my CIBC card and having it get swiped at least once a year. Looking for some other options. Nice that one doesn't have a fee.

Any other suggestions? I was also looking at TD as they have a year fee rebate, and 6% cashback for the first 3 months, but after that most purchases are only 1% back.

[jtfrogger]

Originally Posted by DownhillGoat

That one doesn't look too bad.

I'm tired of dealing with my CIBC card and having it get swiped at least once a year. Looking for some other options. Nice that one doesn't have a fee.

Any other suggestions? I was also looking at TD as they have a year fee rebate, and 6% cashback for the first 3 months, but after that most purchases are only 1% back.

It really depends on things such as: how much you spend in various categories, how many cards you are willing to carry, what your income/credit score is, how often you are willing to switch cards, how much you spend outside of Canada, how you like your rewards, etc.

I've just finished overhauling the card set that my wife and I have, so I know the current card landscape reasonably well. Maybe one/some of these would work for you.

Here is what we have:

• Amex Cobalt - probably my favourite card. You get 5% back on restaurants, bars, & groceries. If you spend at least $500/month on these categories, it nets you 3% back after the $10 monthly fee. If you spend at least $1000, you are clearing 4%. In addition to these categories, I also pick up Amazon & Netflix gift cards from Coop/Safeway to extend the 5% to other categories. There are plenty of other gift cards you can pick up to extend the categories. There is also a promo for the first year, where you get $25 worth of points every month for the first year. To get this full value, you apply the points to travel (hotels & flights) that are charged to your card. You might be able to squeeze more value out of these points, but that takes more effort than I am willing to spend right now. Applying to travel costs is easy. I think you get a slightly bigger welcome bonus if you have a referral link.
• CIBC Dividend Visa Infinite - I have this because I got a promo of 5% back of the first $8k we spend and the first year free. It also has 4% off gas & groceries. So, after the promo, we'll use it for gas & non-Amex groceries. But I'll give it up before the next annual fee is due. If you want a similar card with 4% off gas & grocery, you can get the Scotia Momentum Visa Infinite for $55 cash back promo + first year free + 10% back on the 1st $2000 spend.
• Rogers World Elite Mastercard. The 1.75% back is nice, but with the CIBC promo, I don't use it much. I do use it for foreign currency transactions, since you get 4% back. That nets out to 1.5% after the 2.5% foreign exchange fee. I also use it at Costco, since they only take Mastercard.
• Triangle World Elite Mastercard. 4% back from Canadian Tire, Mark's & Sport Chek. $0.04 cents off a litre from CT/Husky. It also comes with free Roadside Assistance. You can also pay some bills that don't normally take credit cards. So, I use it to get 1% back in CT money for my Enmax bill. It also has 3% back at groceries.
• Costco Capital One Mastercard. You need a Costco membership to have it. I use it solely for the 3% cash back on restaurants for places that don't take Amex.
• Stack prepaid Mastercard. I have this primarily for foreign currency ATM withdrawals. There are no ATM fees nor currency exchange fees. So, it is actually cheaper to use this in a foreign land than it is to exchange the currency at your local bank before you travel. When I signed up, they had a promo for Amazon Prime free for a year. That promo is over, and the only one now is the $20 bonus from getting a referral.
• Koho prepaid Visa. This is really just a backup to the Stack for foreign currency ATM. It only has a 1.5% forex fee. Again, a $20 bonus if you get a referral.

I personally like getting cash back cards or credits that are easy to spend (like the Canadian Tire money). I know you can get great value out of various points cards, but I think that takes lots of work to get substantially more than the cashback value I am getting. If you are willing to try to get the most out of various points, there are plenty of programs out there and they usually have fantastic welcome bonuses. I may pick one of those up once I am through the promo of the CIBC Visa and start churning through cards to build up points.

If you want a referral for any of the ones I have that have a referral bonus, just let me know.

[Gundo]

I can vouch for the Amex Cobalt card, I have had mine for a little over a year and have used it for strictly work expenses and the 5:1 points on eating out and offering to pick up some pretty substantial tabs for work functions combines with the initial bonus credit offers and monthly bonus offer has allowed me to just break the 300,000 point barrier in around 14 months which equates to $3000-$3500 in travel credits which is pretty unbelievable imo.

[jtfrogger]

Originally Posted by Gundo

I can vouch for the Amex Cobalt card, I have had mine for a little over a year and have used it for strictly work expenses and the 5:1 points on eating out and offering to pick up some pretty substantial tabs for work functions combines with the initial bonus credit offers and monthly bonus offer has allowed me to just break the 300,000 point barrier in around 14 months which equates to $3000-$3500 in travel credits which is pretty unbelievable imo.

Yeah, it adds up fast. I already have about $300 in credits, and I have yet to get to the third statement. And I largely only use it for items that get me the 5x rate.

[calgarygeologist]

I received my new Amex Platinum metal card today. That thing is so nice. It is much heavier and stiffer than a regular plastic card and it feels so good to hold. I've never been so impressed with a credit card before.

[caff]

Originally Posted by calgarygeologist

I received my new Amex Platinum metal card today. That thing is so nice. It is much heavier and stiffer than a regular plastic card and it feels so good to hold. I've never been so impressed with a credit card before.

It is time to get a Platinum Card now

There are currently two good offers now. 75k bonus for the Business Platinum card:
https://mgmee.americanexpress.com/re...IREhsWAQ%3D%3D

60k bonus for the regular Platinum card:
https://mgmee.americanexpress.com/re...QPAw4fCw%3D%3D

[Daliwan]

Originally Posted by calgarygeologist

I received my new Amex Platinum metal card today. That thing is so nice. It is much heavier and stiffer than a regular plastic card and it feels so good to hold. I've never been so impressed with a credit card before.

Received my metal card too. I really love it.

[Regorium]

Originally Posted by calgarygeologist

I received my new Amex Platinum metal card today. That thing is so nice. It is much heavier and stiffer than a regular plastic card and it feels so good to hold. I've never been so impressed with a credit card before.

Mine doesn't expire for a few years, did you just request one or were you due for a renewal?

[Bill Bumface]

Any advice on a good backup card?

We have a BMO MC World Elite that is our primary. Looking to hold a Visa with no fees as a backup, especially for travel.

It would get near zero use, unless the lack of Forex made it worth using a no Forex card on trips as opposed to the current MC we have.

Any suggestions?

[jtfrogger]

Originally Posted by Bill Bumface

Any advice on a good backup card?

We have a BMO MC World Elite that is our primary. Looking to hold a Visa with no fees as a backup, especially for travel.

It would get near zero use, unless the lack of Forex made it worth using a no Forex card on trips as opposed to the current MC we have.

Any suggestions?

What about the Home Trust Preferred Visa?

It sounds like it meets your requirements perfectly:

• Visa
• No annual fee
• No forex fee
• 1% cash back

The other option is to pick up a Visa that has a good sign-up bonus with the first year free and cancel within a year. For example, the TD Aeroplan Visa Infinite gives you 35,000 Aeroplan miles when you spend $1k on it. This promo ends on May 17, but there is always something decent out there if you don't mind flipping cards every year. (Or more often if you really feel like racking up a bunch of points).

[caff]

Originally Posted by Bill Bumface

Any advice on a good backup card?

We have a BMO MC World Elite that is our primary. Looking to hold a Visa with no fees as a backup, especially for travel.

It would get near zero use, unless the lack of Forex made it worth using a no Forex card on trips as opposed to the current MC we have.

Any suggestions?

The new Brim Mastercard is getting popular. No Forex, No annual fee.
https://brimfinancial.com/features

[Tron_fdc]

Looking for a recommendation.

I'm currently running the WJ Mastercard and the Amex Aeroplan platinum. My wife is also on the account with an Amex Gold.

I do a lot of flying so I do like the lounge access with the WJ card, but I find I have no access to a lot of the lounges with the Aeroplan card. It's annoying. I get a lot of points which is fine, but it would be nice to have lounge access. I typically hit elite level on star alliance, so I do get the Star Alliance lounge access, but I always find more is better (especially when I don't fly SA).

I probably spend about $2k/mo on the cards in groceries, restaurants, etc. Nothing too crazy.

Looking for a card recommendation here that might encompass lounge access, possibly ties into my aeroplan account, and doesn't have a crazy annual fee. I also liked the sound of a foreign exchange card of some type, seeing as we vacation in the US every few months and spend a ton of time there.

[jwslam]

Originally Posted by caff

The new Brim Mastercard is getting popular. No Forex, No annual fee.
https://brimfinancial.com/features

yea I've been using it for a while now. Spending so much on Amazon and getting the double cashback. The app is pretty good with notifications on each spending too (so it's good for fraud). I also hopped on the train early and got an FYF on Amazon Prime.

I'd love to benefit on the referral bonus if anyone is signing up =)

[STeeLy]

Originally Posted by Tron_fdc

I'm currently running the WJ Mastercard and the Amex Aeroplan platinum. My wife is also on the account with an Amex Gold.

I do a lot of flying so I do like the lounge access with the WJ card, but I find I have no access to a lot of the lounges with the Aeroplan card.

Amex Aeroplan Platinum comes with Priority Pass (Which you have to phone in to do the application). They cover A LOT of lounges worldwide. There are 3 in Calgary that you could get into with Priority Pass (Transborder, International, A Gates domestic), plus the Maple Leaf lounge with your card being Aeroplan Platinum.

[Calgary14]

I just got a letter in the mail notifying me of some changes to the Scotiabank Momentum Visa Infinite card that take effect Aug 1/19; for anyone who doesn't know it's a great card for cash back and I usually earn around $500 per year in cash back.

Here is a quick summary:
- 4% cash back on recurring payments (insurance, utilities, gym memberships, etc). This used to be 1%
- 4% cash back on subscriptions (Netflix, Apple Music, meal kit delivery, etc). This used to be 2%
- 4% cash back on groceries
- 2% cash back on gas (used to be 4%)
- 2% cash back on daily transit
- 1% cash back on everything else (no limit)

The annual fee is $120 (used to be $99). The card also has "mobile device" insurance coverage, which is something I haven't seen very often. Basically it covers the cost of a cell phone if you lose it, break it etc up to $1000 purchase price.

The good:
- anyone who has a lot of recurring payments can now get 4% cash back on them
- the mobile device insurance is a big bonus for anyone who has lost/broken a phone in the past
- you can get 10% cash back for the first 3 months on the first $2,000 in purchases (maximum $200 cash back) AND no annual fee for the first year (using my affiliate link)
- it still has 4% cash back on groceries

The bad:
- the card used to pay 4% cash back on gas but now it's down to 2%
- the annual fee is up to $120 per year
- Enmax doesn't count as a recurring payment. Enmax has a deal with credit card companies that they signed a couple years ago that states Enmax won't be put into the "recurring payment" category so it won't be eligible for 4% cash back
- the most you can get for cash back is $1,000 in the 4% category ($25,000 spend)

If anyone is interested in picking up this card message me and use my affiliate link to get 10% cash back and no annual fee the first year

[Fire]

I have that card, the changes actually benefited me more than hurt me because I work from home and only fill-up on gas at most once a month. Recurring bills increase to 4% will more than make up for the gas % decrease for myself.

[getbak]

Yup, me too. The recurring payments going from 2% to 4% more than makes up for the drop on gas.