Good Credit Card to apply for?

[Oleophobic]

Originally Posted by tiger_handheld

if any of you guys do a lot of cross-border/ us$ online shopping Sears Financial Mastercard does not have the 2.5% fee like ALL the other credit cards. Sears will do the conversion at the exchange rate present at the time of transaction. Assuming 1=1 exchange rate, on a $10 transaction, you can save $0.25.


Source: mom works for Sears. Go to her if you want to open a card - sears gives her coffee cards for each card she opens

I just want to mention that the Amazon.ca credit card also does not charge a 2.5% foreign currency fee plus you get 1% cashback on all purchases, 2% cashback on amazon.ca purchases.

https://www.chase.com/online/canada/amazon-ca-home.htm

I'm using this card for all non-CAD purchases and it's great.

[InvisibleSoul]

Originally Posted by tiger_handheld

if any of you guys do a lot of cross-border/ us$ online shopping Sears Financial Mastercard does not have the 2.5% fee like ALL the other credit cards. Sears will do the conversion at the exchange rate present at the time of transaction. Assuming 1=1 exchange rate, on a $10 transaction, you can save $0.25.



Source: mom works for Sears. Go to her if you want to open a card - sears gives her coffee cards for each card she opens

Amazon.ca credit card also doesn't have the foreign exchange fee.

Whoops, didn't see T.T say the same thing before I replied.

[GLOW]

Originally Posted by T.T

I just want to mention that the Amazon.ca credit card also does not charge a 2.5% foreign currency fee plus you get 1% cashback on all purchases, 2% cashback on amazon.ca purchases.

https://www.chase.com/online/canada/amazon-ca-home.htm

I'm using this card for all non-CAD purchases and it's great.

can the 2% cash back apply to amazon.com purchases too or just .ca?

[Oleophobic]

Unfortunately only amazon.ca

[GLOW]

that's a shame. i'd say the ratio is 9:1 for my purchases .com/.ca

[twitchyzero]

anyone figure out how to use a canadian tire card to pay off MBNA world rewards card to effectively get 3% cb on all purchases?

I read about it somewhere...can't find it..need a new card soon

[Nocardia]

I have the MBNA Smart Card and I am pretty sure there is no 2.5% foreign exchange fee. I find the conversions within 0.5% of vbce.ca

[CRS]

Originally Posted by Nocardia

I have the MBNA Smart Card and I am pretty sure there is no 2.5% foreign exchange fee. I find the conversions within 0.5% of vbce.ca

All transactions (including returns) and payments made in a foreign currency will be converted to Canadian dollars. Transactions will be converted at a rate equivalent to MasterCard’s benchmark rate in effect on the date that we process the transactions, plus an amount equal to 2.5% of the transaction amount after it has been converted. Payments will be converted into Canadian dollars at a rate equivalent to the Bank of Canada rate reported at the close of business on the day immediately preceding the date that we process the payment, plus an amount equal to 2.5% of the foreign currency payment amount.

https://www.applyonlinenow.com/CACCa...=CMSF&lc=en_CA

[Sushi604]

Originally Posted by T.T

I just want to mention that the Amazon.ca credit card also does not charge a 2.5% foreign currency fee plus you get 1% cashback on all purchases, 2% cashback on amazon.ca purchases.

https://www.chase.com/online/canada/amazon-ca-home.htm

I'm using this card for all non-CAD purchases and it's great.

Perfect. Now I can supplement my PCMC with a VISA with no Foreign Currency Transaction Fees when I buy my gas in the states.

Seriously though, why are people raving about the MNBC card so much??? The $50 check you get will take forever to build up especially if you don't spend much on the card. The PCMC is so much more flexible in my opinion.

Assuming if you shop at SuperStore (and honestly who doesn't shop at SuperStore from time to time?), being able to redeem $20 when you need it vs waiting for the $50 to come to you every 4-6 months just sounds silly.

[CRS]

Originally Posted by Sushi604

Perfect. Now I can supplement my PCMC with a VISA with no Foreign Currency Transaction Fees when I buy my gas in the states.

Seriously though, why are people raving about the MNBC card so much??? The $50 check you get will take forever to build up especially if you don't spend much on the card. The PCMC is so much more flexible in my opinion.

Assuming if you shop at SuperStore (and honestly who doesn't shop at SuperStore from time to time?), being able to redeem $20 when you need it vs waiting for the $50 to come to you every 4-6 months just sounds silly.

MBNA offers 5% for the first 6 months on gas AND groceries. Then 3% back after that time. 1% on everything else.

Though the PCMC is more flexible for lower purchases, it doesn't do merely as much in terms of giving back.

IMO MBNA>PCMC because it allows me to more % back on everything and doesn't limit me to only one store. Plus a cheque is good to spend anywhere whereas PC only lets you redeem at superstore. So if we're talking about silly, only being able to get bonus % and redeem at only one place seems pretty silly.

[Gumby]

Originally Posted by Sushi604

Perfect. Now I can supplement my PCMC with a VISA with no Foreign Currency Transaction Fees when I buy my gas in the states.

Seriously though, why are people raving about the MNBC card so much??? The $50 check you get will take forever to build up especially if you don't spend much on the card. The PCMC is so much more flexible in my opinion.

Assuming if you shop at SuperStore (and honestly who doesn't shop at SuperStore from time to time?), being able to redeem $20 when you need it vs waiting for the $50 to come to you every 4-6 months just sounds silly.

I took a peek at the PCMC, and it says you get 10 points per dollar spent, and 20,000 points gets you $20. That means you need to spend $2000 to get $20 (excluding any bonuses) - or 1% of your money. You are then forced to spend the $20 at a store that sells PC products.

For MBNA, the worst case is also 1% cash back, with a minimum of $50. They send you a check that you can cash in and spend on ANYTHING and ANYWHERE - not just a store that sells certain items! For gas & groceries, it's actually 3%, so you get your $50 cash much quicker.

(Someone correct me if my math is wrong)

Edit: Ahhh CRS beat me to it.

[InvisibleSoul]

Originally Posted by Sushi604

Perfect. Now I can supplement my PCMC with a VISA with no Foreign Currency Transaction Fees when I buy my gas in the states.

Seriously though, why are people raving about the MNBC card so much??? The $50 check you get will take forever to build up especially if you don't spend much on the card. The PCMC is so much more flexible in my opinion.

Assuming if you shop at SuperStore (and honestly who doesn't shop at SuperStore from time to time?), being able to redeem $20 when you need it vs waiting for the $50 to come to you every 4-6 months just sounds silly.

If anything, it's your argument that's silly.

How can a rebate that can only be used at one chain of stores be more flexible than a rebate that is actually cash?

Secondly, while it's true you only need $20 worth of points to redeem with PC, does it really matter that you have to wait until you accumulate $50 with MBNA? I personally couldn't care less. I'm never in that desperate of a situation to need access to my rebates immediately.

Lastly, if you spend $250 a month on gas and groceries, you get 3% back with MBNA, which adds up to $30 extra per year.

This is coming from someone that used to use the PC card exclusively, but have now switched to the MBNA card.

[Gumby]

Originally Posted by InvisibleSoul

Lastly, if you spend $250 a month on gas and groceries, you get 3% back with MBNA, which adds up to $30 extra per year.

The way you've written it seems to imply that you need to spend $250 per month on gas & groceries in order to get 3% back, which is untrue. There are no intervals at all with the MBNA card.

(I know you know, just don't want others confused!)

[GLOW]

Originally Posted by Sushi604

Seriously though, why are people raving about the MNBC card so much??? The $50 check you get will take forever to build up especially if you don't spend much on the card.

i've had mine for under a year and received 3 $50 checks so far from normal spending (gas & groceries)

[hotjoint]

I average a $50 cheque every 2 months since I signed up with the mbna smart cash card. $300 cash back every year is fine with me

[EX-R]

just received my 4th cheque from MBNA since i had the card last december!

[bartone]

^ only bad thing is each cheque I receive reminds me that I spent somewhere between $3000~$5000 again....

[GLOW]

if it's just the basics: gas, groceries, bills, insurance...doesn't feel too bad....i'd make use of $50 more than airmiles but that's just me

[Oleophobic]

Correct me if i'm wrong as i'm going by memory here but the PCMC is equivalent to 1% cashback. Meanwhile the Mbna gives you 3% on gas and groceries (ignoring the 5% promotional period). Now to get $20 cashback from PCMC you need to spend $2000. Meanwhile for mbna you only need $1666.67 to get the $50 cheque.

I don't see how the PCMC can win here. EVERYTHING you buy at superstore falls under "groceries" so you get 3% cash back (5% during promotional period) on the MBNA card. Even if you exceed the $600 monthly limit you would still be getting 1% which is equivalent to what the PC card gets. Of course, with that said it would probably be better to have a different card for items that fall under "everything else".

Originally Posted by Sushi604

Perfect. Now I can supplement my PCMC with a VISA with no Foreign Currency Transaction Fees when I buy my gas in the states.

Seriously though, why are people raving about the MNBC card so much??? The $50 check you get will take forever to build up especially if you don't spend much on the card. The PCMC is so much more flexible in my opinion.

Assuming if you shop at SuperStore (and honestly who doesn't shop at SuperStore from time to time?), being able to redeem $20 when you need it vs waiting for the $50 to come to you every 4-6 months just sounds silly.

[roastpuff]

Question regarding canceling credit cards - does my credit take a hit if I do so?

Right now, I have too many cards, IMO. I want to consolidate into three cards at maximum, if advisable.

I have the following:
- CIBC Visa Dividend, (my first-ever credit card, upgraded from student classic)
- BMO MasterCard SPC Air Miles (not really used anymore - only at Blenz for the free upgrade lol)
- Amex Costco True Earnings (Costco shopping card)
- Amex Air Miles Platinum (got it for Shell/Safeway shopping, rack up Air Miles, for trip insurance/rental car insurance as well)

I was thinking of going for a CIBC Aventura Mastercard because the Air Miles seem to be crappy, to be honest, and it takes way too long to accumulate. Also, there is a $75 Amazon.ca gift card I can use towards my school textbooks at the moment. The Visa Dividend is not all that useful with only 1% cash back. Basically, I would like to switch or cancel my Visa and get the CIBC Aventura M/C, cancel the Amex Platinum and keep the Costco one, and leave the BMO M/C alone.

Would people recommend having at least one card from each card carrier? The only bad thing I could think of is that Visa is more widely accepted than M/C or Amex, and I will not have a Visa in that case. Or, keep the Visa and get the M/C, cancel the BMO card?

I was also thinking of getting that Amazon.ca card mentioned above for purchases in the US, so I would still have a Visa as well then I guess.

[murmur]

scotia scene visa is actually alright (if you watch movies).
it comes with a scene membership.

- spent $1 = 1 point
- for every movie ticket you buy (combined with scene membership), you get 100 points.
- 10% off for concessions

(note: you can redeem a general admittance ticket with 1000 points)

[BigTrollFace]

scotia scene is stupid lol $1 per point so 1000 to get a free movie ticket

you can just get a scene card and get 100 points per movie ticket anyways and you still get 10% off

[Sushi604]

Originally Posted by InvisibleSoul

If anything, it's your argument that's silly.

How can a rebate that can only be used at one chain of stores be more flexible than a rebate that is actually cash?

Secondly, while it's true you only need $20 worth of points to redeem with PC, does it really matter that you have to wait until you accumulate $50 with MBNA? I personally couldn't care less. I'm never in that desperate of a situation to need access to my rebates immediately.

Lastly, if you spend $250 a month on gas and groceries, you get 3% back with MBNA, which adds up to $30 extra per year.

This is coming from someone that used to use the PC card exclusively, but have now switched to the MBNA card.

Nice! I was hoping to find someone who switched from PCMC to MBNA. The only benefit real benefit from the PC points was the bonus points you get when you shopped at any participating Loblaws consumer store. Considering that I seem to eat out more than I shop, the MBNA is starting to make more sense.

LOL damnit, now I need to apply to 2 cards!

[Meowjin]

I have 180k avion points. I wanted to book a trip once and I found out I had to pay for the taxes still.

What's the point of having a dollar value limit on points if you find a ticket for 1100 but pay the taxes when your limit is 1400.

[Sky_High]

Originally Posted by Meowjin

I have 180k avion points. I wanted to book a trip once and I found out I had to pay for the taxes still.

What's the point of having a dollar value limit on points if you find a ticket for 1100 but pay the taxes when your limit is 1400.

That's perfectly normal.

Even if you have 32423842304 miles with a certain airline's mileage program, and wish to redeem for a free flight.....you still have to pay for the taxes.