[sebTeggy]

Hey guys,

So I have been with RBC for a while now and have had the same credit card for years. I am wondering, from a benefit standpoint, what is the BEST credit card you can have in terms of savings or money back in your pocket.

I have seen lots of rewards, points, gas and cash back credit cards. The way that I see it, is that you can take any of these cards and convert them into a universal '% savings' to compare apples to apples.

I never miss a payment and I never pay interest, all of my payments are on time and in full, I have no use for a 'low interest' card. I also am scared shitless of planes so I don't really care about air miles (which are ridiculous anyways) or avion perks.



RBC Cash Back - 1% cash back works out to being a 1% savings (at the end of the year)

RBC Mastercarad - 2% discount BUT 0.5% for the first x thousand dollars, 1% for the next x thousand dollars, and 2% at select locations, works out to being about 0.7% total discount depending on where you shop

RBC Esso Gas Card, Shoppers Card, ANY points card - If you cash ONLY the highest valued item, you are getting about 6 pennies for every 10$ spent, working out to about 0.6% savings. 0.3% for the low-point rewards and if there is a massive promotion, you are getting close to 0.9%. The downside is you are narrowed down to your choices of savings. Keep in mind, although you get a '150$ coffee machine', most of us wouldn't buy this, or we would wait until boxing day, or buy online for half the price, thus reducing the value of your reward

RBC Rewards Cards - very similar structure to the above cards. Usually forces you to spend your money at selected retails to earn points (Orbitz, BestBuy, Joe's Car Rental) with the benefits of gaining some savings. This one is a bit more tricky as you might be paying MORE to gain your rewards which yield you less.

Shoppers Optimum and Air Miles have been fooling people for EONS. Get 10,000 points when you buy a 6$ jug of milk. Well, those 10,000 points, when converted, are worth a few pennies. Sure, if you break it down, free points are free points and when redeemed, is a nice little treat. Here is the problem, some people go OUT of their way to find a shoppers and buy things that are either more expensive, or they don't need, for a sense of 'reward'.

Anyways, wondering what your guys thoughts are. I have had the 1% Cash Back card for about 5 years now. The way I see it, is that I get a 1% discount on ANY purchase (technically) when I use my credit card and I see it at the end of the year. So far I think it is the best bang for my buck and would like to hear what others think? Can this be beaten?

[meme405]

http://www.revscene.net/forums/665574-good-credit-card-apply.html

:whistle:

[yray]

fuck RBC

called to activate my credit card, operator talked nonstop for 5 mins about credit protection plan

[Akinari]

Same with pretty much every bank I've dealt with :badpokerface: they want you to buy the protection plan real bad

[sam0m0]

I'm using RBC cashback mastercard, thought it was 2% for groceries and 1% for everything else.

[yray]

Same with pretty much every bank I've dealt with :badpokerface: they want you to buy the protection plan real bad

American Express

innout within 3 mins :accepted:

[VR6GTI]

I use the RBC Avion card for the past ten years
Ive been on over 7+ trips and never paid for a flight, only the taxes. One trip was to Europe where we flew all over and still didn't pay anything.
Cost $150 a year for me and my wife and have never paid interest.
So far i think its worked in our favor to use this card.

[sdubfid]

I use the RBC Avion card for the past ten years
Ive been on over 7+ trips and never paid for a flight, only the taxes. One trip was to Europe where we flew all over and still didn't pay anything.
Cost $150 a year for me and my wife and have never paid interest.
So far i think its worked in our favor to use this card.

Do you have a breakdown on cost vs returns? Flights in Europe could be $50 and you could spend 20g a month on your avion for all we know.

[sebTeggy]

I use the RBC Avion card for the past ten years
Ive been on over 7+ trips and never paid for a flight, only the taxes. One trip was to Europe where we flew all over and still didn't pay anything.
Cost $150 a year for me and my wife and have never paid interest.
So far i think its worked in our favor to use this card.

Why the hell do you fly for free????? Please elaborate?

[kr4l]

Used to be Amex and TD aeroplan for me. I've flown business class overseas a few times with those.

But since Costco doesn't accept Amex anymore (I have a small business), I switched to capitalone.

Any card with cash back is probably better than a points card if your just the average user

[123654123]

fuck RBC

called to activate my credit card, operator talked nonstop for 5 mins about credit protection plan

meh they're just doing their job. I get that with TD too. all i do is let them read the script for 5 mins while i put them on speaker and afterwards i just say "no" :lawl:. you can hear sigh and the defeat in their voice knowing they just wasted 5 mins.

I have the TD cashback(1%) everything with the auto protection service for free tows/keys locked etc. i haven't use the perks yet but that's a good thing.

[Mike Oxbig]

MBNA smart cash

/thread

[Godzira]

I use BMO airmiles mastercard, It was my first and only.

[winson604]

Why the hell do you fly for free????? Please elaborate?

Because that's a Travel Credit Card and he accumulated enough points/miles to fly for free?

[hotjoint]

MBNA smart cash

/thread

This is what I use as well.

[VR6GTI]

Do you have a breakdown on cost vs returns? Flights in Europe could be $50 and you could spend 20g a month on your avion for all we know.
I spend between $3-$9000 a month. I put everything on it, car insurance, house insurance, cable, phone, property tax every bill possible even if its a $1.
The trip to europe was a bonus because british airways had a special that if you transfered avion points to british airway miles you get 2-3.5x or something cant remember exactly.
If i think about it its got me 3 tickets to and from vegas and 5 trips to Hawaii.
But don't forget ive also paid $1500 for the card over 10 years.

[Hondaracer]

Imo the infinite avion isn't worth it unless your spending $$$$

For me, I had to essentially spend $80,000 to get one $1350 Round trip to Europe plus about half the cost of the second ticket. 122,000 points plus $760 got us two Round trip tickets to paris.

Imo the new costco MasterCard seems realy good, probably going to sign up for it

[quasi]

I use the RBC Avion card for the past ten years
Ive been on over 7+ trips and never paid for a flight, only the taxes. One trip was to Europe where we flew all over and still didn't pay anything.
Cost $150 a year for me and my wife and have never paid interest.
So far i think its worked in our favor to use this card.

I use the same card and I'm happy with it. It also gives you insurance on anything you buy, basically an extra 1 year warranty. I've never used it but my brother law has used it on a bunch of stuff, shirt doesn't fit warranty claim, break new toilet when installing it warranty claim.

[Hondaracer]

Good to know, also their customer service Is excellent

[v_tec]

Imo the new costco MasterCard seems realy good, probably going to sign up for it

In one sense? Besides it being 2-in-1 with your Costco membership attached.
Only advantage is the 3% restaurant. Or else you're better off with just the MBNA smartcash.

[nabs]

American Express

innout within 3 mins :accepted:

AMEX Gold has got to be one of the better ones. I've never had an easier time using a card and not being hassled. Weekly balance updates and such. Friendly non pushy people on customer service that actually act like they give a shit.

[meme405]

Okay. I almost exclusively use a BMO World Elite Mastercard. I collect BMO reward points on it. The card costs $150 a year, although I had the first year waived, and they gave me 40,000 bonus reward points when I signed up. You collect 2 reward points for every $1 you spend on the card.

I load absolutely everything onto the card, like literally everything from my Timmies in the morning to my car insurance, and travel expenses.

It costs 11,000 points to get a $100 gift card to a few of their supported retailers, like home depot, or best buy. So I don't know where this fits in on the scale of rewards, but its not bad for me.

I keep the card more so because their concierge service is actually really good, and because of the card you get a priority pass membership, and 4 free visits a year (which cost $25 each), priority pass for those that don't know is all those airport lounges, where you can eat, drink, shower, sleep all you want while you wait for your flight.

I've used the concierge service to book flights, hotels, etc. And believe it or not they actually do a decent job at getting good rates, and also they are magic at getting into sold out flights, or booked restaurants.

Obviously you pay for the service, but it becomes worth it if you are using it, as I do.

[InvisibleSoul]

Realistically, should just find the equivalent threads on RedFlagDeals. There would be way more details and experienced people there for this kind of stuff.

There's a Capital One card that is effectively 1.5% cash back on everything.

[InvisibleSoul]

MBNA smart cash

/thread

Nope, not so fast. It used to be the best card, but it's gotten worse because there are now limits on the 2% cash back for gas and groceries.

As mentioned, there's a Capital One card that's 1.5% across the board, so depending on how much you spend and on what, you might get more back from that one.

[Marioo1991]

costco mc for eating out and gas
mbna smart cash for groceries

gonna start using mbna alaska airlines for everything else

[Ulic Qel-Droma]

The best credit cards are not free.

the shittiest ones are free.

[heleu]

Capital One Aspire Travel. 2% cashback, for essentially $20/year. Hassle free and has worked very well for me since I got it. Works at costco too!

I used to have RBC Avion, and redeemed lots of free flights (through BA), but they've changed their policies so it's not really worth it anymore.

I also have a Chase Visa Amazon.ca card for international purchases - it has no currency exchange and no annual fees.

[nabs]

^^^
What do you mean no currency exchange? This is intriguing.

[xjc11]

AMEX Gold has got to be one of the better ones. I've never had an easier time using a card and not being hassled. Weekly balance updates and such. Friendly non pushy people on customer service that actually act like they give a shit.

+1. Ive had a good experience using my amex gold for about 6 months now. The only downside is the high annual fee ($150) which is waived in the first year.

[winson604]

Capital One Aspire Travel. 2% cashback, for essentially $20/year. Hassle free and has worked very well for me since I got it. Works at costco too!

I used to have RBC Avion, and redeemed lots of free flights (through BA), but they've changed their policies so it's not really worth it anymore.

I also have a Chase Visa Amazon.ca card for international purchases - it has no currency exchange and no annual fees.

Have had the Capital One Aspire Travel for 1.5 years now but can't comment on whether I like it or not since I haven't redeemed anything yet. I do like the anniversary bonus every year of $100 worth of points essentially making the fee $20 vs $120. Also like how I can use my points to redeem for anything travel related such as flights, hotels etc. Additionally, I like the flexibility of redeeming for cash although you take a bit of a hit with a lower conversion rate vs using it for travel. One thing I definitely don't like is how the conversion is tiered so you can't just use $50 of points for $50 spent. For example the first tier requires you to use at least 15000 points ($150) so if you spend even $5 it'll cost you $150 in points if you choose to redeem.

[wycked]

Capital One Aspire Travel. 2% cashback, for essentially $20/year. Hassle free and has worked very well for me since I got it. Works at costco too!

I used to have RBC Avion, and redeemed lots of free flights (through BA), but they've changed their policies so it's not really worth it anymore.

I also have a Chase Visa Amazon.ca card for international purchases - it has no currency exchange and no annual fees.

Nailed it

+Churn the AMEX cards on the side

[urban.boi]

I also have a Chase Visa Amazon.ca card for international purchases - it has no currency exchange and no annual fees.

^^^
What do you mean no currency exchange? This is intriguing.


What heleu means about no currency exchange fee is they don't add on the 2.5% conversion rate. They only convert that days rate.

Ex. you spend $100 USD in US, normal cards will calculate the exchange rate (say 1.24) + 2.5%=1.271. $100 USD@1.271= $127.1
But with the Chase Visa Amazon card it would $100 USD @ today rate of say 1.24 = $124

[keifun]

I got the AMEX gold card as well. Pretty good card where ever Amex is accepted.

membership points can be transferred to Aeroplan, Asia Miles, SPG points etc.

first year fee ($150) waived. and a $25000pts bonus too

[gars]

I have the Chase Amazon card as well - great for online purchases or when I'm in the states. It's free as well, with 1% cash back - they credit the money onto your card every time you accrue $20.

[InvisibleSoul]

The best credit cards are not free.

the shittiest ones are free.

Depends on how much you spend. You have to take into account the yearly fee to determine which one is most beneficial in the end.

If you have a card that costs $100 a year, but gives 2% cash back, vs a card that's free, but gives you 1% cash back, then that means if you spend more than $10000, the $100 card is better for you.

[PandaDog]

What heleu means about no currency exchange fee is they don't add on the 2.5% conversion rate. They only convert that days rate.

Ex. you spend $100 USD in US, normal cards will calculate the exchange rate (say 1.24) + 2.5%=1.271. $100 USD@1.271= $127.1
But with the Chase Visa Amazon card it would $100 USD @ today rate of say 1.24 = $124

Forget Amazon Chase card's 1% cashback

I feel as if the no currency exchange fee has already saved me hundreds in the first few months :concentrate::fuckyea:

I do a lot of cross border and online shopping. The 2.5% saved REALLY adds up.

[blkgsr]

I use the same card and I'm happy with it. It also gives you insurance on anything you buy, basically an extra 1 year warranty. I've never used it but my brother law has used it on a bunch of stuff, shirt doesn't fit warranty claim, break new toilet when installing it warranty claim.

i've had the platinum avion card for years now....apparently i need to read up on the coverage lol

what sort of travel insurance does it come with?? enough to cover a trip to the states or what?

[Hondaracer]

15 days unlimited no deductable out of country

[Blah_Teggie]

Not sure if it's the "best" but I use my Alaska Airlines MasterCard and have been for 5+ years now. Have flown NY, LA, LV on points and a bit of cash. It charges an annual fee of $75.

[tomatogunk]

I'm surprised no one mentioned the Scotia Momentum Visa Infinite yet.

-$100 annual fee (first year waived)
-4% cash back on all eligible gas station and grocery store purchases
-2% cash back on eligible drug store purchases and recurring bill payments
-1% cash back on all other eligible purchases

Will be cancelling my RBC infinite avion in lieu of this card

[NLY]

I'm using the MBNA Rewards World Elite

2% back on all purchases with zero cap.

Points can be used for direct cash back/travel etc.

MBNA | Credit Cards | Rewards credit cards | MBNA rewards (http://www.mbna.ca/credit-cards/overview/rewards/mbna-rewards/index.jsp)

There is a $89 annual fee but if you upgrade your card from the existing MBNA Rewards Travel Plus then there is zero annual fee.

[HonestTea]

Currently using HSBC Premier World MasterCard and DBS AMEX Black for HK purchases

I'm waiting for another AMEX Gold promotion since I missed the last one :(

[acurael]

BMO world elite. I'm happy. 2% points for travel. Annual fee $150. I like it cause I bank at BMO so everything linked up on my online accounts. I wouldn't switch to anything else.

[blkgsr]

I'm surprised no one mentioned the Scotia Momentum Visa Infinite yet.

-$100 annual fee (first year waived)
-4% cash back on all eligible gas station and grocery store purchases
-2% cash back on eligible drug store purchases and recurring bill payments
-1% cash back on all other eligible purchases

Will be cancelling my RBC infinite avion in lieu of this card

this sounds like a great deal......

[blkgsr]

15 days unlimited no deductable out of country

to any country? including the states?

[urban.boi]

I'm surprised no one mentioned the Scotia Momentum Visa Infinite yet.

-$100 annual fee (first year waived)
-4% cash back on all eligible gas station and grocery store purchases
-2% cash back on eligible drug store purchases and recurring bill payments
-1% cash back on all other eligible purchases

You will earn 4% cash back on the first $25,000 you spend annually at gas stations and grocery stores. 4% cash back applies at merchants which are classified in the Visa Inc. (VISA) network as Grocery Stores & Supermarkets, Service Stations (with or without ancillary services), and Automated Fuel Dispensers (Merchant Codes: 5411, 5541 & 5542). Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by VISA in another manner, in which case this added benefit would not apply.

You will earn 2% cash back on the first $25,000 you spend annually on recurring payments and drug store purchases. 2% cash back applies at merchants which are classified in the VISA network as Drug Stores & Pharmacies (Merchant Code: 5912) and Recurring Payments. Recurring payments are defined as payments made on a monthly or regular basis automatically billed by the merchant to your Scotia Momentum VISA Infinite card. Recurring payments are typically telecommunication, insurance, membership, subscriptions etc. purchases. Not all merchants offer recurring payments. (Please check with your merchant to see if they offer recurring payments on VISA cards.) Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by VISA in another manner, in which case this added benefit would not apply.

You will earn 1% cash back on purchases made after you have reached the 4% and 2% $25,000 annual spend maximum ("overflow") and on all other eligible purchases made with the card. Purchase returns, payments, cash advances, Scotia® Credit Card Cheques, credit vouchers, card fees, interest charges or service/transaction charges do not qualify for Scotia Momentum cash back.

Double check T&C before jumping over.



what sort of travel insurance does it come with?? enough to cover a trip to the states or what?

Trip Cancellation Insurance
Trip Interruption Insurance
Travel Accident Insurance
Auto Rental Collision/Loss Damage Insurance
Emergency Purchases & Flight Delay Insurance
Purchase Security & Extended Warranty Insurance
Hotel/Motel Burglary Insurance

As long as you used the card to book the car rental, air fare, hotel, otherwise it does not apply!

[skiiipi]

I got 3 cards that I use predominantly
RBC Infinite Avion
RBC WestJet World Elite
Amex Platinum Charge Card

The West jet card is beneficial for the free checked luggage on west jet flights, 2 round trip flights and it pretty much covers the annual fee.
The infinite Avion i use for everyday purchases, and I've had this card for about 7 years now, recently I just converted 150K point to BA Avos at the 1.5X promo, and have booked a round trip flight on Cathay First to HK with points left over.
I am thinking of cancelling this card and getting the Amex Gold instead, due to the 2X grocery, gas and travel bonus for MR points.

The Platinum card I use for travel, 10% off all Westjet prices allows me to book the lowest price possible for Westjet, then I use my RBC card for free checked luggage (usually just have to show the check in agent my card).
I also use the FHR benefit quite often when booking hotel travels and the lounge access comes in quite handy as well. The $200 travel credit, lounge access and other perks definitely pays for the annual membership fee for me.

[blkgsr]

Trip Cancellation Insurance
Trip Interruption Insurance
Travel Accident Insurance
Auto Rental Collision/Loss Damage Insurance
Emergency Purchases & Flight Delay Insurance
Purchase Security & Extended Warranty Insurance
Hotel/Motel Burglary Insurance

As long as you used the card to book the car rental, air fare, hotel, otherwise it does not apply!

great thanks

[murmur]

the scotiabank travel amex gold is pretty good.

annual fee = $100 (waived at first year)
15,000 points (that's $150 in travel money --- applicable to any airline/hotel related transaction)
$300 travel credit statement for the first airline/hotel related transaction.

x 4 points for grocery, restaurant, and gas spending
x 1 point for the rest.

not sure if they still offer the above deal..

[bickdutt]

There's guides floating around on RFD and /r/personalfinancecanada. This one is pretty up to date: Best No-Fee Credit Cards for Cash Back & Rewards (Canada) - Forum Vancouver (http://www.forumvancouver.com/threads/best-no-fee-credit-cards-for-cash-back-rewards-canada.7070/)

[bcuzracecarz]

Have had the Capital One Aspire Travel for 1.5 years now but can't comment on whether I like it or not since I haven't redeemed anything yet. I do like the anniversary bonus every year of $100 worth of points essentially making the fee $20 vs $120. Also like how I can use my points to redeem for anything travel related such as flights, hotels etc. Additionally, I like the flexibility of redeeming for cash although you take a bit of a hit with a lower conversion rate vs using it for travel. One thing I definitely don't like is how the conversion is tiered so you can't just use $50 of points for $50 spent. For example the first tier requires you to use at least 15000 points ($150) so if you spend even $5 it'll cost you $150 in points if you choose to redeem.

+1 for this, love it, great travel insurance and points, downside is the tiered point system

[heleu]

Tiered point system isn't an issue if you rack up lots of expenses. I just wait until I have a $700+ travel expense and then reimburse it. That usually happens at least every 3-4 months for me.

[Simplex123]

I use the same card and I'm happy with it. It also gives you insurance on anything you buy, basically an extra 1 year warranty. I've never used it but my brother law has used it on a bunch of stuff, shirt doesn't fit warranty claim, break new toilet when installing it warranty claim.
I thought the cards just double the manufacture warranty. How did he claim it on a shirt that did not originally come with any warranty?

Okay. I almost exclusively use a BMO World Elite Mastercard. I collect BMO reward points on it. The card costs $150 a year, although I had the first year waived, and they gave me 40,000 bonus reward points when I signed up. You collect 2 reward points for every $1 you spend on the card.

It costs 11,000 points to get a $100 gift card to a few of their supported retailers, like home depot, or best buy. So I don't know where this fits in on the scale of rewards, but its not bad for me.
That is quite good if they have stores that you go to since it ends up equating to 1.8% cash back.

^^^
What do you mean no currency exchange? This is intriguing.
You of course have currency exchange, but it's called Foreign Transaction fee. Every time you make a purchase outside of Canada they ding you 2.5% automatically and it just shows up on your bill. You don't notice it, but if you buy a lot of stuff from the states and pay attention to your spending, you'll see that it really adds up. The Amazon card is one of the few cards that don't charge you for foreign transactions.

There's a Capital One card that is effectively 1.5% cash back on everything.
Yeah I was considering that one a few months ago but ended up going with the AMEX SimplyCash Preferred Card. I don't travel much so I'd rather have cash back. It costs $79 but you get 5% back from all purchases for the first 6 months (capped at $400), then it's 1.5% off any. I then have my Amazon for US and MBNA which has been replaced by the AMEX.

[CRS]

There's two Capital One cards. The cashback one (aspire cash) and the travel one (aspire travel).

The Aspire Cash effectively gives 1.5% because they give you an annual 0.5% cashback on all your purchases. So it's 1% immediately then on your anniversary, they give you the 0.5%. No annual fee.

The Aspire Travel does 2% (IIRC) but it can also be used for cashback but again, the whole tiered system. Annual fee of $120 but you get $100 back annually for having the card so really it's $20 annually.

[ntan]

There's two Capital One cards. The cashback one (aspire cash) and the travel one (aspire travel).

The Aspire Cash effectively gives 1.5% because they give you an annual 0.5% cashback on all your purchases. So it's 1% immediately then on your anniversary, they give you the 0.5%. No annual fee.

The Aspire Travel does 2% (IIRC) but it can also be used for cashback but again, the whole tiered system. Annual fee of $120 but you get $100 back annually for having the card so really it's $20 annually.

If I recall correctly, they no longer offer the Aspire Cash card except for those who already have one (myself included). I pair this card with the Amazon Visa (for US purchases).

I think the only limitation with the Capital one card is the $70K annual income requirement

[PeanutButter]

I spend between $3-$9000 a month. I put everything on it, car insurance, house insurance, cable, phone, property tax every bill possible even if its a $1.
The trip to europe was a bonus because british airways had a special that if you transfered avion points to british airway miles you get 2-3.5x or something cant remember exactly.
If i think about it its got me 3 tickets to and from vegas and 5 trips to Hawaii.
But don't forget ive also paid $1500 for the card over 10 years.

How do you pay property tax via credit card???

[Phozy]

Whats the best option for a 19 year old part time worker?

Currently looking at American express, or PC financial.

[v_tec]

Whats the best option for a 19 year old part time worker?

Currently looking at American express, or PC financial.

MBNA SmartCash.

[Durrann]

subscribed
I need a new cc

[GLOW]

bumping this - anyone remember how long it took to receive the amazon.ca card in the mail once they've applied for it online?

[TypeRNammer]

bumping this - anyone remember how long it took to receive the amazon.ca card in the mail once they've applied for it online?

I got mines with in 5 business days?

From I can recall....

[GLOW]

thanks. need it in august so good to know it comes quite quickly

[k3mps]

For those of you that applied for the MBNA smart cash online, how long did it take to receive your card?
I applied online and while I was reading the confirmation page and authorization number and before i could press "print this page", the page was gone and went back to the MBNA home page??
Did this happen to anyone else?
My fingers weren't even on the keyboard or mouse...

Tempted to call customer service to verify..

[!Aznboi128]

Hey guys, I bank with TD. suggestion for card from them? Im still using their old rebate rewards card. Just thinking I have a home now and with all the payments and what not mounting just want to get something back that's worthwhile

[v_tec]

For those of you that applied for the MBNA smart cash online, how long did it take to receive your card?
I applied online and while I was reading the confirmation page and authorization number and before i could press "print this page", the page was gone and went back to the MBNA home page??
Did this happen to anyone else?
My fingers weren't even on the keyboard or mouse...

Tempted to call customer service to verify..

Happened to me once when I was applying for the MBNA Alaska.
Came in 1-1.5 week. Don't remember about the SmartCash as it's been almost 2 years now.

[falcon]

I really like my RBC Avion card. With the amount of money that flows through my card on a yearly basis I basically fly for free when I need to.

[v_tec]

I really like my RBC Avion card. With the amount of money that flows through my card on a yearly basis I basically fly for free when I need to.

What's your spending pattern?

[flagella]

I really like my RBC Avion card. With the amount of money that flows through my card on a yearly basis I basically fly for free when I need to.

That means nothing really unless we know $ to air miles conversion.

[RFlush]

I really value SPG points as all my hotel stays are at starwood properties. In Canada I use the SPG AMEX which is great for me, but maybe not others. If you collect hotel points and value the 25% bonus in the multiple airplane partners that spg transfers to, then this is a great card.

I also have the Marriott visa which does not have any foreign transaction fees, so it's great while shopping abroad.

[jdmfemme]

I just applied/was approved for the Amazon.ca Chase card since I do a big trip to the US at least once a year, maybe twice and do a gross amount of US online shopping. Hopefully I like it since it has mixed reviews on the Amazon site.

[CRS]

I just applied/was approved for the Amazon.ca Chase card since I do a big trip to the US at least once a year, maybe twice and do a gross amount of US online shopping. Hopefully I like it since it has mixed reviews on the Amazon site.

I've recently found out that paypal will almost always give a better conversion rate than the Amazon Visa. So if you can, avoid using the card unless you're shopping specifically on the Amazon website.

You can compare it yourself on the fly using this website to see Visa's conversion for the day:

Exchange Rate Calculator | Visa USA (http://usa.visa.com/personal/card-benefits/travel/exchange-rate-calculator.jsp)

[jdmfemme]

I've recently found out that paypal will almost always give a better conversion rate than the Amazon Visa. So if you can, avoid using the card unless you're shopping specifically on the Amazon website.

You can compare it yourself on the fly using this website to see Visa's conversion for the day:

Exchange Rate Calculator | Visa USA (http://usa.visa.com/personal/card-benefits/travel/exchange-rate-calculator.jsp)

True, but my bank charges $.50 for every auto w/d incl. PayPal, so easier to just use the card I figure.

[F3]

^ pay with a CC through paypal

[TypeRNammer]

MBNA smart cash card is getting nerfed again.

Starting in September, any promotional balance transfers you do, is subject to a 3% transaction fee verses 1% from before.

Was one of my favorite cards due to low rates on balance transfers. But not sure after the rate change this coming September.

[Badhobz]

So i decided to throw up 600 bucks and get the Amex Aeroplan Reserve card. Since i do quite a bit of corporate flying, this seems like a good way to earn miles and get higher elite status.

It was a toss up between this card, the TD infinite privilage card, and the Amex Platinum. People say the amex platinum has more flexibility, but i primarily fly with air canada so the extra earning on air can makes more sense to me.

right now they giving away 80,000 aeroplan points if you sign up which isnt too bad. thats like a return trip to asia 4 free.

[BaoTurbo]

With the Amex plat, biggest perk is getting those AMEX points so that you can also exchange them down the line for Marriott Bonvoy etc once you have enough for a plane ticket.

Both are good cards, I would personally choose the Plat for longevity

[Badhobz]

yeah plat is more flexible as points covert easily to marriot or hilton or aeroplan but i think you earn less aeroplan so thats why i ultimately went with the amex reserve.

[HonestTea]

Currently hold the TD AP Privilege and Plat - I find that not many places take Amex, so the Privilege works wonders with holding e-upgrades/status etc from AP. Will probably cancel the Plat next year, since for $700, we definitely don't get as much benefits compared to our US counterparts, so might get the US Plat or Chase Sapphire Reserve next year.

Edit: Concierge SUCKS now, they use to be able to bend backwards for you pre-COVID and now, they can't do simple things, like buy event/concert tickets on your behalf.

[Badhobz]

which places are not taking amex HonestTea? im curious about that as well since right now im still on the HSBC premier world elite mastercard and its readily accepted everywhere. But since HSBC is dead, im pretty sure their CC will be dead soon too.

Kinda worried this AMEX might be a hinderance more than a help. I dont recall whens the last time i had an AMEX as a primary card (probably when costco used to be amex only).

[HonestTea]

which places are not taking amex HonestTea? im curious about that as well since right now im still on the HSBC premier world elite mastercard and its readily accepted everywhere. But since HSBC is dead, im pretty sure their CC will be dead soon too.

Kinda worried this AMEX might be a hinderance more than a help. I dont recall whens the last time i had an AMEX as a primary card (probably when costco used to be amex only).

Asian places, Costco, Loblaws corporation (No Frills, Superstore, etc) and when we were doing renovations, suppliers/contractors didn't take Amex. There's a lot more places I'm forgetting but if you're just spending your time at luxury stores and fine dining establishments, those all take Amex.

I find that Amex is not as widely accepted here but completely different down south.

[yray]

bruh,

it says MURRICA on it

[Badhobz]

Yeah but what can you do. Ain’t no Canadian express card avalible. That would be a Tim’s card.

[68style]

I know when I worked in retail we didn’t take it because the discount rate was astronomical on Amex… like most cards were 2.5 off the top but Amex was 4 or so

[yray]

Yeah but what can you do. Ain’t no Canadian express card avalible. That would be a Tim’s card.

yea there is

is presidents choice :troll::awwyeah:

superstore, tnt, shoppers seniors days

[Badhobz]

So i applied on tuesday for the amex, while in mexico, and got the card today. holy crap thats fast turn around.

Metal card too, very hefty feeling. i can use as a wind shield scrapper in a pinch or use it to cut up lines of coke

[The Producer]

i don't accept amex. brutal on small business. rates are close to double Visa/MC and funds can take weeks to release.

most people that try to use it are pretty resigned that lots of small business' don't take it. It's pretty rare when I get somebody that's either surprised and or ticked about it.

at the end of the day - there are no "free" points. I'm buying your points as a retailer. It sucks.

[bcrdukes]

I still really like my American Express Cobalt card but I am strategic about where I use it. Places that won't take American Express, I will use either my Visa or Mastercard.

I did a comprehensive review with American Express a month ago and the Cobalt card still comes out top for me in a lot of different ways. I had considered switching to the Platinum Card but the benefits don't truly benefit me since I am not traveling as much as I used to to take advantage of them.

[BaoTurbo]

Here's a list for those that are too lazy/lost to get a compilation of all the credit cards for December. Disclaimer it may vary on what you want to achieve person to person so take his list as a grain of salt and there is a disclaimer on the top as well to outline this list is just based on generic value or dollar value what you get versus what you pay

https://princeoftravel.com/deals/best-credit-card-offers/

Prince of Travel is a good database cuz he just compiles it all together and spreads all the benefits and perks so you don't have to do it yourself. I just use his site as a reference whenever I want a credit card and see what are the new offers, I don't use his services. Pretty sure some of you are aware of PoT but just for new people

Edit: I'll probably pick up the Cobalt this season for regular purchases but we will see

[Badhobz]

My first Amex rejection. Tried it at a bubble tea joint tonight and they wouldn’t take it. MasterCard or visa only.

Not super surprised but it’s a bit of a shame

[mmerz]

Scotia Passport Visa Infinite. No FX fees and fee six lounge passes.

[Hondaracer]

^ that’s what I’m using right now, the no foreign fees is pretty great

The benefits in terms of lounge access are also things that typical come with cards double or triple the annual fee. You can also pay for lounge access after the 6 to lounges you normally wouldn’t be able to pay to get into

[StylinRed]

Really disliking my TD ap infinite card atm, they flagged my online use and so now I can't use uber or order anything online, so here I am in Japan being inconvenienced, I can't call them cuz all the sim cards are data or local calls only

So I call TD collect line from the hotel and no one ever picks up the damn phone waited over an hour on the fraud line and nada

[supafamous]

Scotia Passport Visa Infinite. No FX fees and fee six lounge passes.

When I used to travel a lot I had this card and it's great. The no FX was great as work would always give me 2.5% for my expenses even though I wasn't paying any FX and I was putting through a lot of USD expenses each year. Good value regardless.

[blkgsr]

Really disliking my TD ap infinite card atm, they flagged my online use and so now I can't use uber or order anything online, so here I am in Japan being inconvenienced, I can't call them cuz all the sim cards are data or local calls only

So I call TD collect line from the hotel and no one ever picks up the damn phone waited over an hour on the fraud line and nada

i've got the TD Aeroplan visa, can't even use it at cash stations because they won't ready the card. new design and it sucks

[bcrdukes]

My first Amex rejection. Tried it at a bubble tea joint tonight and they wouldn’t take it. MasterCard or visa only.

Not super surprised but it’s a bit of a shame

Too baller for bubble tea. Wish I had that problem. :pokerface:

[Tr1ll]

My first Amex rejection. Tried it at a bubble tea joint tonight and they wouldn’t take it. MasterCard or visa only.

Not super surprised but it’s a bit of a shame

If you have Apple Pay sometimes using that let's you get around the "no Amex" option. Doesn't work all the time, but worth the try.

[The Producer]

^^ if you're a dick. it's not costco - it's a guy w a small shop, and an expected margin.

when i say no AMEX it doesn't mean try to find a way to do it anyways.

i don't think my system will allow it regardless, but i'd be pissed if somebody bypassed it in this way.

[Badhobz]

Too baller for bubble tea. Wish I had that problem. :pokerface:

Baller had to take out his Costco CIBC mastercard like a lowly peasant !BibleThump

[donk.]

Cashback cards > all other cards

[Badhobz]

i used to think the same, but i did the math and now i cant go back.

This year on my HSBC world premier cash back mastercard i got 470 bucks cash back
I also got another 450 cash back on my CIBC costco mastercard

so roughly 1000 bucks worth of cash back. Thats not bad, but looking at the perks on this new amex. Just getting the companion fair for 599 (to OZ/Asia) would already exceed 1000+ dollars (depending on when you fly, it could even be more than that).
Not to mention the unlimited lounge usage, priority everything for check in/luggage/waitlist/upgrade/etc and the 1.25% earn rate for aeroplan, AND the 85,000 aeroplan bonus (already enough for a round trip to asia).

[Hondaracer]

What’s the annual fee

Also that’s presuming you can spend enough to realize the points required. Do places like Home Depot etc. ecen take Amex?

[bcrdukes]

Most major retailers take AMEX. I am mindful of smaller businesses and proactively try not to use my AMEX there unless they have a Small Shops promo which I can take advantage of. I believe the Platinum annual fee is $699/year but you make it back quickly if you travel a lot. Keep in mind, the Platinum AMEX is a charge cards, and not credit card. (Edited - Thanks roastpuff)

Points I've accumulated on my Cobalt Card have helped me with covering a lot of costs of my wedding back in September. I like that you can cover the cost of your bill using points or to redeem them for travel or merchandise (which I don't really care for.) My only beef with the Cobalt Card is that you earn the most points for food/dining, which I don't do a lot of.

Re: Costco Mastercard - Do they still have an annual cap on cash back? I recall they did which is what I didn't like about them which is why I stuck around with my Rogers Bank Mastercard which has no limits on cash back and is quite generous.

[MG1]

What’s the annual fee

Also that’s presuming you can spend enough to realize the points required. Do places like Home Depot etc. ecen take Amex?

Yes. Also collect Pro Xtra points (up to 5% cash back) on top of Amex.

https://www.homedepot.ca/en/home/pro/proxtra.html

[Hondaracer]

Didn’t think there was a cap on the Costco MC? I’ve frequently gotten 1200-1500 back a year on it. One time when I redeemed for my cash the guy said the most he’s given back was 10k? Lol so that’s somthing absurd like 500k spent on it

[Badhobz]

my amex reserve annual fee is 599. seems steep, but like i said the perks cover that fee easily. they just upped the check bag fee at air canada recently. 2nd bag is now 100 bucks and first bag is 50. just having free bag saves you 150 per trip if you carry 2 checked bags.

so i spend roughly around 80-90k a year on my cc. at 1.25% base rate (not including gas/restaurants which are more) thats already 100,000 aeroplan points. good enough for a round trip fair to Asia on economy. plus with this card you can roll over your mileage/eupgrades to the next year.

Didn’t think there was a cap on the Costco MC? I’ve frequently gotten 1200-1500 back a year on it. One time when I redeemed for my cash the guy said the most he’s given back was 10k? Lol so that’s somthing absurd like 500k spent on it

must be small business shopping. ive seen these guys buy like 20+ bags of flower, 20+ jugs of oil, etc etc. Makes sense.

[Hehe]

Cashback cards > all other cards

It really depends on what you do and how much you spend.

If you travel frequently, I think many point programs yield better value if you can rack up that much expense on the card.

Even the absolute best cashback card gets you about 2% overall if you really work your way around it. But that's not all that great because many of them have limits on how much CB you can get. So, high-spenders would likely get less than 2%.

I know people who between personal and business expenses put 7 figures on their cards annually. Considering a first-class air ticket can easily reach 5 figures, they are much better off with points that they can redeem for travel.

[roastpuff]

Keep in mind, the Platinum and Gold AMEX are charge cards, and not credit cards.


FYI the new Gold card is a CC now.

[bcrdukes]

FYI the new Gold card is a CC now.

Did not know this. (Thanks for that!)

When did this come into effect?

[CivicBlues]

Re: Costco Mastercard - Do they still have an annual cap on cash back? I recall they did which is what I didn't like about them which is why I stuck around with my Rogers Bank Mastercard which has no limits on cash back and is quite generous.

Rogers WE Mastercard:buttrock:

Just wish they kept the 4x bonus for non-US forex FeelsBadMan

[roastpuff]

Did not know this. (Thanks for that!)

When did this come into effect?

Couple of years ago I believe. It also resets the "lifetime" bonus as it counts as a new product so you can get the sign up bonuses again. :concentrate:

[bcrdukes]

Couple of years ago I believe. It also resets the "lifetime" bonus as it counts as a new product so you can get the sign up bonuses again. :concentrate:

Good to know and thanks for that. I had no idea it became a credit card. My spend was huge this year primarily due to expenses for our wedding. Where vendors didn't accept AMEX, we used the Rogers Bank Mastercard or our TD Aeroplan Visa.

The AMEX Gold is something for us to truly consider in the near future.

[HonestTea]

Good to know and thanks for that. I had no idea it became a credit card. My spend was huge this year primarily due to expenses for our wedding. Where vendors didn't accept AMEX, we used the Rogers Bank Mastercard or our TD Aeroplan Visa.

The AMEX Gold is something for us to truly consider in the near future.

It's a good option if there's a good sign-up bonus for the Gold but I wouldn't keep it past the first year (my opinion) since it doesn't pull its weight with the new annual fee ($250). You get much more value with the Cobalt IMO especially when you get get 5X from grocery stores.

[roastpuff]

I got the Gold for the 60 + 15 sign up bonus, will likely cancel it next year once I get the Cobalt spun up to keep the MR points.

[Badhobz]

I think you can just keep bouncing around the different credit cards for their bonuses. The key is to not cancel it and just downgrade it to a no annual fee one and then upgrade when they have a bonus again. Some cc companies like Amex is lifetime (only get one bonus) but others like TD you can reUp every 1-2 years I think.

[bcrdukes]

It's a good option if there's a good sign-up bonus for the Gold but I wouldn't keep it past the first year (my opinion) since it doesn't pull its weight with the new annual fee ($250). You get much more value with the Cobalt IMO especially when you get get 5X from grocery stores.

I got the Gold for the 60 + 15 sign up bonus, will likely cancel it next year once I get the Cobalt spun up to keep the MR points.

Bulk of my AMEX spend is on groceries but I wished they were more generous on other categories.

No more mileage runs for me, at least for work any way. We've cut down significantly on work-related travel for many years and it's getting even more restrictive. Last MR and work-related long haul flight I did was to Amsterdam and India back in 2018. Other than that, just a few trips to Montreal and Vancouver if I'm lucky.

On a personal level, I'd love to do more mileage runs again but travel is just really expensive these days in comparison to the good ol' days. 2019 was the last time I achieved any kind of airline status with United and Delta but haven't been able to take advantage of it. I may need to divorce Marriot for my hotel program seeing as their prices are often very expensive in comparison to Hilton and other related chains. Their corporate discounts are dismal.

[winson604]

I've always been tempted to get a travel specific card with mileages but the thing is I'm not an avid traveler like some are and while the return might be higher (not sure) I may not see the benefit for years.

After my grand fathered capital one card went to the shits I've been using the CIBC Dividend Infinite card for 1.5 years now. $120 annual fee, 4% on gas and groceries (auto 3 cents off if used at chevron), 2% on transportation, dining, and recurring payments, 1% on everything else. Overall not bad it's the main card I use for 99% of my stuff and in my first full year I'm at $1300 cashback right now might finish the year close to $1400 so value wise it has been good. Would it have been better elsewhere, maybe but I'm not unhappy with the results so far.

[Eff-1]

Is the AMEX 85k welcome bonus typical? Or is that a limited time promotion they are running right now?

[Badhobz]

during the pandemic i think they were up to 105k bonus promo (i read that online somewhere) but the 85k is only good till jan next year. then they might shrink it or make it bigger, its hard to say.

i only got it this month because i needed the card to rollover my extra mileage and eupgrades into next year.

If you guys do any traveling with your significant other that companion pass they give you really makes back all the money. literally a second fair to asia or oz/new zealand for 599. plus the free checked bags, plus the lounge access, plus plus plus everything. totally worth it in my opinion.

[EvoFire]

during the pandemic i think they were up to 105k bonus promo (i read that online somewhere) but the 85k is only good till jan next year. then they might shrink it or make it bigger, its hard to say.

i only got it this month because i needed the card to rollover my extra mileage and eupgrades into next year.

If you guys do any traveling with your significant other that companion pass they give you really makes back all the money. literally a second fair to asia or oz/new zealand for 599. plus the free checked bags, plus the lounge access, plus plus plus everything. totally worth it in my opinion.

Can I get two companion fares? We are going to need 4 airfares when we travel soon. Just traveling once a year would make getting the card worth it.

[Hondaracer]

during the pandemic i think they were up to 105k bonus promo (i read that online somewhere) but the 85k is only good till jan next year. then they might shrink it or make it bigger, its hard to say.

i only got it this month because i needed the card to rollover my extra mileage and eupgrades into next year.

If you guys do any traveling with your significant other that companion pass they give you really makes back all the money. literally a second fair to asia or oz/new zealand for 599. plus the free checked bags, plus the lounge access, plus plus plus everything. totally worth it in my opinion.

Round trip companion for 599?

[Badhobz]

Yeah it’s round trip. 599 for companion fare (economy only).

If you need 2 companion passes then you gotta get another credit card for the spouse (ideally a different one than Amex reserve, so you can get different perks, but also has companion pass perk like the TD aeroplan privilege).

[BaoTurbo]

I kept my AMEX Gold personal cuz they changed it to the metal rose gold card.

Maybe I'm retarded lol

[sonick]

I kept my AMEX Gold personal cuz they changed it to the metal rose gold card.

Maybe I'm retarded lol

On the pleb end of the amex spectrum, I just got a replacement Amex Cobalt card, looks like cheap sh*t compared to my original one.

Shiny flat plastic with printed numbers (like a shitty gift card) vs matte embossed of my old one.

[Badhobz]

ever since the pandemic, and even a few years before that, ive realized that almost nobody handles your credit card other than you.

You tap small purchases, you insert for larger purchases. nobody besides maybe the occasional restaurant will take your card and insert it for you.

Only the in the states, you give them the CC and they walk away / come back with the bill. For some reason most restaurants in the states dont have a mobile CC machine and they have to run it at the till.

[bcrdukes]

On the pleb end of the amex spectrum, I just got a replacement Amex Cobalt card, looks like cheap sh*t compared to my original one.

Shiny flat plastic with printed numbers (like a shitty gift card) vs matte embossed of my old one.

Ouch, that sucks. I am pending to receive my new Cobalt card due to upcoming expiry.

I've been asking around who manufactures the Cobalt card and so far, nobody has been open to admitting it. I work very closely with the companies who make/manufacture credit cards, and there are only a small handful of them in the industry.

I would liken that the requirements for the Cobalt card came from AMEX themselves, and not so much a manufacturing problem or quality issue with the vendor who makes them. I am not looking forward to the update as my current one, while is showing wear and tear, is not in the greatest shape.

ever since the pandemic, and even a few years before that, ive realized that almost nobody handles your credit card other than you.

You tap small purchases, you insert for larger purchases. nobody besides maybe the occasional restaurant will take your card and insert it for you.

Only the in the states, you give them the CC and they walk away / come back with the bill. For some reason most restaurants in the states dont have a mobile CC machine and they have to run it at the till.

I hate using credit cards in the US, especially restaurants. They always try to swipe for you or bypass the PIN portion because that process is foreign to them and they screw things up and lock the card. I try to tap whenever I can. And the tipping portion for restaurants is still manual where you write it on a the receipt.

On my recent trip to Los Angeles, I recently came across the mobile machines at some restaurants but very few of them will bring it up to you. They still prefer to take your card to swipe on their machines. Adoption of this practice is slow in the US.

[Badhobz]

Check your amex accounts boys. I just looked on my account today and they had this free offer for disney plus.
well not totally free.. you gotta pay like 20 bucks worth of taxes and fees because it works out to 134 bucks and they only give you back 119.

https://i.postimg.cc/j2r8dMY1/8df28c3b-9827-4029-a6de-8fda4dce790d.jpg

[bcrdukes]

Yes, I got the offer but Disney+ is free for me for 12 months because of my internet package. :)

[l2_narain]

Check your amex accounts boys. I just looked on my account today and they had this free offer for disney plus.
well not totally free.. you gotta pay like 20 bucks worth of taxes and fees because it works out to 134 bucks and they only give you back 119.

https://i.postimg.cc/j2r8dMY1/8df28c3b-9827-4029-a6de-8fda4dce790d.jpg

Damnit, there was an offer a couple of months back for half off Disney plus and I signed up for that.

Here's my lineup for cards:

AMEX - HOTEL - Marriot Bonvoy (annual $120) - 5x points on Marriot properties, 2x on everything else, free hotel night per year (up to 35k), Silver status (somewhat late checkouts, and bonus points/gifts, free WIFI)
VISA - FLIGHTS - Scotiabank Passport Visa Infinite Card (annual $150) - 3x points at Safeway, Sobeys, IGA, 2x points dine in/take out, rideshare, movies, 1x everything else, 6 lounges passes a year, no FX fees
MAST - BACKUP - Rogers World Elite Mastercard (annual $0) - 1.5% unlimited cash-back rewards on all eligible regular purchases, 3% unlimited cash-back rewards on all eligible purchases made in U.S. dollars

[AzNightmare]

If I'm requesting a credit card limit increase through the website, it asks me to put in a number between $100 - 99,900.

Is there a rule of thumb of how much I should put in, or just put in $99,900 and they'll give me the max amount they're willing? Or will that just give me an auto rejection?

[Badhobz]

I wouldn’t put in that much unless you know you’re gonna spend that amount. They might ding your credit and you seem like a “credit seeker”.

[hud 91gt]

Out as much as you need. Taking note that any amount approved will take away from your ability for a loan. It’s a liability. Mortgage etc.

[AzNightmare]

I wouldn’t put in that much unless you know you’re gonna spend that amount. They might ding your credit and you seem like a “credit seeker”.

I was just trying to lower my utilization rate, but it's more of a want, not really a need. So I guess I won't bother with an increase then.

[RiceIntegraRS]

I usually ask for double what my previous limit used to be. But i get what your saying though. If you could get 100k limit then why not right? But i usually forget that the majority of this population have no self control on spending. Which is probably why they ask.

Im gonna say that your credit limit amount doesnt affect your ability to get a loan. If u have money oweing then of course.

[Badhobz]

I was just trying to lower my utilization rate, but it's more of a want, not really a need. So I guess I won't bother with an increase then.

yeah be careful of these credit card companies. some give out insanely high limits (looking at you amex) and then it takes away from your ability to secure higher mortgages later on.

[bcrdukes]

Ditto on which credit card companies you are looking to increase your credit limit to. AMEX is notorious for being overly generous with giving out credit limit increases.

One example of this is last year I got married and managed to put a majority of our expenses onto our AMEX which (for us) was great. We knew what we were going to spend and how to manage the expenses carefully. If it weren't for the wedding, we wouldn't have gotten the credit limit increase. No mortgage or loan-related stuff until a year or two later so this was a pre-calculated decision.

This year, we plan on doing some major renovations to our place so whatever expenses we can put on to our AMEX, we will, while having the ability to pay for it all with cash reserve we've managed to save up for. Assuming the renovations don't go over out budget, there should be no need for us to dip into our line-of-credit / HELOC or request any additional funding for this endeavor to work against our credit.

[Gerbs]

Aventura has a sick churn the last few weeks, it was for 40K-45K points which is roughly $500 to $562.50 in travel credits, aka book flight or expedia + cancel to get cash.

BMO also has $390 for new account within 2 years with GCR, not sure what rules on referrals are but there may be a additional bonus on that too.

Goal is to push an extra $2K in CC/Bank openings this year.

[meme405]

Im gonna say that your credit limit amount doesnt affect your ability to get a loan. If u have money oweing then of course.

This is absolutely incorrect, and dangerous advice to give to someone who doesnt know any better.

If you have a 100k worth of credit on multiple cards, this can absolutely lower how much of a mortgage you can get, as the bank will have to factor your ability to max those cards along with your total mortgage amount. At the end of the day the total calculation revolves around how much damage can you create if you default, and if you have 200 or 300k worth of card limit, along with 1 mil of mortgage and you only make 100 a year, this is going to be a big problem for the bank.

There is a balance with everything, you dont want your credit cards to be maxed all the time because your limit is too low, as a high utilization even if you pay off the card every month can look bad to creditors. at the same time having a 100k limit and only using 1000 of it a month will also have negative problems.

There isn't a perfect balance, but I try to maintain 4-5 times my average month spending. This means that months that come along where I need to pay for Home Insurance or car insurance, or business expenses, that I can do so without worrying. But I dont carry 100k worth of limit needlessly. You can always also pay off portions of your card off throughout the month if you have a time where you need additional capacity.

[Hehe]

This is absolutely incorrect, and dangerous advice to give to someone who doesnt know any better.

If you have a 100k worth of credit on multiple cards, this can absolutely lower how much of a mortgage you can get, as the bank will have to factor your ability to max those cards along with your total mortgage amount. At the end of the day the total calculation revolves around how much damage can you create if you default, and if you have 200 or 300k worth of card limit, along with 1 mil of mortgage and you only make 100 a year, this is going to be a big problem for the bank.

There is a balance with everything, you dont want your credit cards to be maxed all the time because your limit is too low, as a high utilization even if you pay off the card every month can look bad to creditors. at the same time having a 100k limit and only using 1000 of it a month will also have negative problems.

There isn't a perfect balance, but I try to maintain 4-5 times my average month spending. This means that months that come along where I need to pay for Home Insurance or car insurance, or business expenses, that I can do so without worrying. But I dont carry 100k worth of limit needlessly. You can always also pay off portions of your card off throughout the month if you have a time where you need additional capacity.

Second this.

To be honest, I don't know about you guys, but I used fight my ways to lower my CC limits. What I usually do is 2-2.5x of my usual spending, and only 1 card with very high limits that used for those occasions that I need to buy something big and can totally use the perks on that high expense card.

Of course now that me and my wife consolidated everything onto 1 single card, that advise might seem pointless. But that's only because I've grown to have great control on budgeting and expenses and that soft-limit is no longer necessary.

[hud 91gt]

How many cards do you guys have?
My wife and I share one, which we do all our spending. She has a spare, and I don’t. Although I feel I should have a backup.

[Teriyaki]

How many cards do you guys have?
My wife and I share one, which we do all our spending. She has a spare, and I don’t. Although I feel I should have a backup.

Absolutely you should have another. If not for anything else but to help building your credit score.

Although not often, but some places only take Visa or Mastercard or vice versa. Then there are the different levels of cash-back or rewards available on each card. Card for gas you max CB, card for travel to max points and insurance, etc etc.

[EvoFire]

1 MC and 1 Visa that I use regularly.

The Costco MC is our joint expenses card, taken out under my name.
The Visa is TD Infinite cash back.

I think the TD is ~20k limit right now the Costco card $8k

I also have another MC that just sits and doesn't get used. Too much hassle to try and close it and it's got a small limit anyways. When we were doing our mortgage, CC limit was not really a question but rather they cared that we paid off that months CC bill at the time of application. I'm not sure how big of a difference it makes but it was a thing repeatedly.

[HonestTea]

3 Amex (Plat, Biz Gold and Cobalt)
2 MC (MBNA CB to keep credit & MBNA AS until they cancel it)
1 Visa (TD AP Privilege)
2 US cards (Amex Hilton and Chase Sapphire Preferred)

[hud 91gt]

Might have to start calling you Costanza! Lol

[bcrdukes]

Surprised nobody has said they have an AMEX Black card, yet. (Maybe secretly HonesTea does)

[roastpuff]

How did you get the US cards?

[meme405]

I would definitely suggest having 2 cards, as one can become compromised, lost, or i've actually had a card where it just stopped working (like the physical chip/mag strip).

I have a Visa and a MC.

Only other card I have is a basic US dollars MC for if I travel in the states or want to buy something off an american website.

I dont see the need or the want for 9 cards, I know plenty of people who hop around on cards trying to maximize benefits and loyalty points and shit, all I can say is you guys have too much free fucking time.

EDIT: also with the change that is coming with CC processing fees being charged to the customer at some retailers, the loyalty card thing is likely to start becoming less prevalent.

[HonestTea]

How did you get the US cards?

You either need a ITIN or a SSN to apply. https://princeoftravel.com/guides/getting-us-credit-cards-for-canadians/ has some good information on it.

Once you get your first US card, start building credit and after 12-24 months, apply for Chase.

[Gerbs]

I'm currently using

Rogers MC 1.5% Cashback / 3% FX Daily for MC
Avion - Daily for Visa
- Cancelling as soon as my trip to Asia/MontrealF1 is over for travel insurance / flight insurance + transfer points out

Tangerine - 2% Gas/Restaurants - Should cancel too, I think cobalt is everyone's replacement for the optimal cash back for groceries, gas and restaurants?

Aventura - Churning, replacing with westjet MC shortly

[Hondaracer]

If I didn’t hate WJ so much and their garbage planes I’d be tempted to switch

[RiceIntegraRS]

This is absolutely incorrect, and dangerous advice to give to someone who doesnt know any better.

If you have a 100k worth of credit on multiple cards, this can absolutely lower how much of a mortgage you can get, as the bank will have to factor your ability to max those cards along with your total mortgage amount. At the end of the day the total calculation revolves around how much damage can you create if you default, and if you have 200 or 300k worth of card limit, along with 1 mil of mortgage and you only make 100 a year, this is going to be a big problem for the bank.

There is a balance with everything, you dont want your credit cards to be maxed all the time because your limit is too low, as a high utilization even if you pay off the card every month can look bad to creditors. at the same time having a 100k limit and only using 1000 of it a month will also have negative problems.

There isn't a perfect balance, but I try to maintain 4-5 times my average month spending. This means that months that come along where I need to pay for Home Insurance or car insurance, or business expenses, that I can do so without worrying. But I dont carry 100k worth of limit needlessly. You can always also pay off portions of your card off throughout the month if you have a time where you need additional capacity.


So i read this in the morning and decided to msg my mortgage broker who just did my renewal a few weeks ago and another friend who is also a broker. They both said your credit limit doesnt affect your ability to get a loan. In those rare cases where the borrower is basically on the edge of getting approved or not, they will be asked to decrease their credit limit.

You can believe me or not, i think everyone knows a broker or someone that works with a lender that can answer this question for u

[Badhobz]

I spend around 80-120k a year on my CC since thats usually how much my cash rebate is.

Costco MC. Cashback

HSBC world elite MC. Foreign x fee nill (but this is dead or soon to be dead when rbc takes over)

AMEX Aeroplan reserve. For Aeroplan points and travel perks.

I try and spend as much as possible on the Amex, rest goes to Costco MC

[Hondaracer]

We just got $850 back through Costco the other night and then usually get between 300-500 from the CC

When we were doing renovations etc. I think we ended up getting $1500 back from Costco one year

[meme405]

So i read this in the morning and decided to msg my mortgage broker who just did my renewal a few weeks ago and another friend who is also a broker. They both said your credit limit doesnt affect your ability to get a loan. In those rare cases where the borrower is basically on the edge of getting approved or not, they will be asked to decrease their credit limit.

You can believe me or not, i think everyone knows a broker or someone that works with a lender that can answer this question for u

It doesnt affect your ability to get a loan, it can affect the amount you can be pre-approved for.

Your amount of current credit (including CC) is used as a part of the calculation on your stress test. Yes you can easily just reduce that amount by telling your CC to reduce the credit when you are getting a mortgage, or cancel some cards. But that begs the question, why the fuck would you want a CC with a $100k limit anyway?

[Badhobz]

why the fuck would you want a CC with a $100k limit anyway?

Take my wife, please.

[RiceIntegraRS]

Im not gonna try and multi quote this but ill just copy paste for u Meme405

Hud 91gt "Taking note that any amount approved will take away from your ability for a loan"

Me "Im gonna say that your credit limit amount doesnt affect your ability to get a loan. If u have money oweing then of course."

U "This is absolutely incorrect, and dangerous advice to give to someone who doesnt know any better."

Me - i ask 2 brokers than comfirm it does not affect ur ability to get a loan

U "It doesnt affect your ability to get a loan, it can affect the amount you can be pre-approved for"

So now its amount u can be approved for. When was the last time ur broker has asked u about how much ur credit limit was on ur CC? Has anyone been asked this question? I have never been asked.

[meme405]

Im not gonna try and multi quote this but ill just copy paste for u Meme405

Hud 91gt "Taking note that any amount approved will take away from your ability for a loan"

Me "Im gonna say that your credit limit amount doesnt affect your ability to get a loan. If u have money oweing then of course."

U "This is absolutely incorrect, and dangerous advice to give to someone who doesnt know any better."

Me - i ask 2 brokers than comfirm it does not affect ur ability to get a loan

U "It doesnt affect your ability to get a loan, it can affect the amount you can be pre-approved for"

So now its amount u can be approved for. When was the last time ur broker has asked u about how much ur credit limit was on ur CC? Has anyone been asked this question? I have never been asked.

I did state, in my original post:

If you have a 100k worth of credit on multiple cards, this can absolutely lower how much of a mortgage you can get

So this was always about how much you will be approved for.

Literally when I got my mortgage, I had to tell them my open lines of credit and my credit card limits. It also asked me for the monthly payments on them, and the balances owing. But I definitely had to fill in my LOC information even though I had no money pulled from that LOC.

I tried a broker for my mortgage, but ended up being easier just going straight through my bank mortgage advisor. If I recall correctly I dont think the bank asked me for the same information, but at the time I assumed it was just because they had all my banking information and could see what I had going on asset/liability wise.

The question still stands if you are spending 5-10k on your CC's a month, why would you be so horny to get 100k limit? Do you walk around with a printed copy of your statement and your world elite mastercard to show girls or something? Nobody cares big boy.

Take my wife, please.

Woah woah. Dont try to put your mistakes on me... jkjk.

[Badhobz]

ya dont buy any watches or handbags do ya? if so, then you'll know why you need a 100k limit. :okay:

[donk.]

Badhobz just KOd meme405 with a handbag

[Hehe]

I did state, in my original post:

If you have a 100k worth of credit on multiple cards, this can absolutely lower how much of a mortgage you can get

So this was always about how much you will be approved for.

Literally when I got my mortgage, I had to tell them my open lines of credit and my credit card limits. It also asked me for the monthly payments on them, and the balances owing. But I definitely had to fill in my LOC information even though I had no money pulled from that LOC.

I tried a broker for my mortgage, but ended up being easier just going straight through my bank mortgage advisor. If I recall correctly I dont think the bank asked me for the same information, but at the time I assumed it was just because they had all my banking information and could see what I had going on asset/liability wise.

The question still stands if you are spending 5-10k on your CC's a month, why would you be so horny to get 100k limit? Do you walk around with a printed copy of your statement and your world elite mastercard to show girls or something? Nobody cares big boy.



Woah woah. Dont try to put your mistakes on me... jkjk.

I'm just going to say that this is not entirely true. Not for the usual people who can amass a 100k credit limit anyway.

And if you want to know how to break that limit, keyword: private banking.

Many rich folks I know have very little declared personal income as most of their wealth are in C-structure. And yet they have no problem obtaining 8 figure mortgages and high 6 figures CC limit

[AzNightmare]

I only have 2 main CC's I carry, and my wife is also joint with them.
One's a visa, ones a mc, with different perks.

I have another one that's basically a drawer one that I opened when I was 19 or 20. It's my longest active cc that I barely ever use now cause the perks aren't that great.

My wife also similarly has her own drawer one that she opened in her early 20s.

We also have another joint CC but we stopped using that one a couple years ago that's just a drawer one. I don't really cancel cc's I just downgrade to a free one and let them sit.

[PeanutButter]

We just got $850 back through Costco the other night and then usually get between 300-500 from the CC

When we were doing renovations etc. I think we ended up getting $1500 back from Costco one year

Isn't the limit for costco cashback capped at $1,000?

[Gerbs]

Correct $1,000 for the membership. Hit cap this year from a loophole lol

[Hondaracer]

Isn't the limit for costco cashback capped at $1,000?

Not sure, did that just recently happen?

A guy in customer service at the Willingdon one said he’s given 10k cash back on two separate occasions a couple years ago when we redeemed ours

[Badhobz]

^arrghh that avatar sucks hondaracer !!!! Pandemic ain’t over yet

[Hondaracer]

So bumping this thread because all the cards I have seem to have gotten increasingly worthless over the last couple years. Currently use infinite Avion Visa (completely worthless for me) Costco CIBC MC, and Scotia Infinite Passport.

I’m going to dump the avion, it’s completely useless now.

So I’m looking for a new CC, have been leaning towards the Amex aeroplan reserve as a second card… but even they seem to be changing their terms to become less effective.

I’m basically at the point where I want to travel more, and I want the luxury perks of potential upgrades, companion flights, priority boarding, and lounges, etc.

I don’t mind losing out on the cash back + paying for a premium card, but I also want it to make sense that I at least get some value out of the card. Ie. lounge access alone is 60-70 a pop, for 2 people travelling a couple times a year, the Amex kinda pays itself off pretty quickly.

Any thoughts?

[TOS'd]

There is actually an offer right now for the CIBC Aventura Visa

Get a total of up to 40,000 Aventura Points (up to $850 in travel value‡) during your first year:
15,000 Aventura Points when you make your first purchase†
5,000 Aventura Points on first purchase within the first 4 monthly statement periods†
20,000 Aventura Points when you spend $3,000 or more in the first 4 monthly statement periods†
Get 2 annual fee rebates ($278) for you (the primary cardholder) and up to three authorized users ($50 each): over $378 value†.
Elevate your airport experience with 4 complimentary visits at 1,200+ lounges globally through Visa Airport Companion Program2: over $190 value2
Plus, get a NEXUS™ Application Fee rebate♢: a $50 value†

https://forums.redflagdeals.com/cibc-cibc-aventura-visa-infinite-card-1400-value-plus-2-annual-fee-rebates-2660627/

https://www.cibc.com/en/personal-banking/credit-cards/all-credit-cards/aventura-visa-infinite-card.html?utrc=S229:210&&gbraid=0AAAAADttJEf9SsBkXFIw4arw6wU0-3GBz&gclid=CjwKCAiA1MCrBhAoEiwAC2d64cT3Dd6BnMWJDguDSYhy wqy23Cr3gle6eWJMqnbqpnn32ib_JyEPuBoCr3UQAvD_BwE&gclsrc=aw.ds

You can even redeem Aventura Points for 1.25x the usual rate on travel purchaes. Ie. 40,000 Aventura points = $400 statement credit, but its now $500 statement credit until end of March 2024.

I used 80,000 points recently for $1,000 off hotels booked on Expedia.

[G]

Personally I haven't used the Aventura point system enough to know if its really worth it or not. Contrarily, I have seen some redemptions off Aeroplan being pretty good recently (i.e. 35k one way or 55k business class on ANA to Tokyo).

I like the Amex Aeroplan Reserve but I would probably look into other Amex cards that offer better perks like the Amex Plat.

[Badhobz]

Amex reserve gives you more points on aeroplan than platinum. Only take platinum if you’re thinking of using other reward groups like Cathy or whatever. Or Marriott points as they convert 1:1.

Amex reserve also gives you Avis presidential club and companion pass.

Plus a metal card to cut up lines of coke

599 annual fee vs 799 for platinum.

Not accepted at t&t so if you’re a big China fuck who spends a lot of money cooking. This isn’t the card for you

[G]

Amex reserve gives you more points on aeroplan than platinum. Only take platinum if you’re thinking of using other reward groups like Cathy or whatever. Or Marriott points as they convert 1:1.

Amex reserve also gives you Avis presidential club and companion pass.

Plus a metal card to cut up lines of coke

599 annual fee vs 799 for platinum.

Not accepted at t&t so if you’re a big China fuck who spends a lot of money cooking. This isn’t the card for you

I think they changed the sign up point structure for the reserve.

Based on the first year - 45k aeroplan vs 70k Mr on the plat

If you apply to plat early enough you can double dip the dining credit.

[Badhobz]

https://www.americanexpress.com/en-ca/credit-cards/aeroplan-reserve/?cpid=100471966&dsparms=dm_pcrid_666240946956_kword_amex%20aeropla n%20reserve_match_e&gclid=CjwKCAiA-P-rBhBEEiwAQEXhH1nqIW6lanQE4EW12gZaLWiC8XEYKfX7ijRQX GDcGV6vgrBUU3NJ-xoC358QAvD_BwE&gclsrc=aw.ds

Nah still 90,000 aeroplan points if you spend 6k. Easy peasy

[G]

https://www.americanexpress.com/en-ca/credit-cards/aeroplan-reserve/?cpid=100471966&dsparms=dm_pcrid_666240946956_kword_amex%20aeropla n%20reserve_match_e&gclid=CjwKCAiA-P-rBhBEEiwAQEXhH1nqIW6lanQE4EW12gZaLWiC8XEYKfX7ijRQX GDcGV6vgrBUU3NJ-xoC358QAvD_BwE&gclsrc=aw.ds

Nah still 90,000 aeroplan points if you spend 6k. Easy peasy

45k first year, they make you stay and pay annual fee for 2nd year to get the other 35k.

[Badhobz]

Ah yes. But to be honest don’t sweat the annual fee. Most of us will have an existing Amex account due to the old Amex being the only card accepted at Costco. That means you’ll have membership loyalty and you can always tell them to lower to waive the annual fee. I’ve read this is a common thing to ask for on Reddit.

[G]

Ah yes. But to be honest don’t sweat the annual fee. Most of us will have an existing Amex account due to the old Amex being the only card accepted at Costco. That means you’ll have membership loyalty and you can always tell them to lower to waive the annual fee. I’ve read this is a common thing to ask for on Reddit.

Very true, but from personal experience they don’t rebate or give any discounts on their higher tier cards. Usually they only give some Aeroplan points as retention unless you spend an insane amount on the card.

[EvoFire]

I still don't spend enough to justify the $600 annual fee. I am the poors. Most of my grocery shopping is done cash because I go to the real China places for the best deals. No amount of points will make up the savings.

The welcome points over two years equates to 1 round trip ticket to HKG during low season. So $1200 for a ticket which is a few hundo cheaper than paying with cash, but after that it's no longer worth it. With the reserve card being stuck with Air Canada is a bit of a turn off as well. AC old hag air stewardesses are no match for the cute Asian Cathay ones :badpokerface:

Also I don't see the platinum card on the site.

[Hondaracer]

Unless you’re flying 3 times a year you probably don’t get value out of it

My buddy who flies 4-5 times a year for work fucking loves this Amex card, he says the priority boarding, luggage, etc. is worth it alone in busy airports.

Wish it wasn’t just stupid maple leaf lounges though, if this was all star alliance lounges like I originally thought it would be a slam dunk

[Badhobz]

i made 50k status this year so I get access to global Star Alliance lounges. This card also skyrocketed my points from 100k Aeroplan points when I started about a year ago, to 650,000 points in 1 year. The higher your aeroplan status the more multipliers you get on travel points. So at 50k, i get 50% more Aeroplan points for every flight

(remember, with this card every 5k spent = 1000SQM, segment qualifying miles, you need SQM to achieve the higher tiers of status with aeroplan, so basically, I bought my way into 50k status this year)

Okay well 90,000 points was free from the credit card, and the rest was because

4x montreal (premium econ, 2x upgraded to buisness)
1x hong kong (premium econ, upgraded to business)
1x Atlanta (buisness)

and spending. There might be a rolex in that spending so yeah, 400k worth of Aeroplan points in about 1.2years is A SHIT TON OF POINTS.

still didnt cash out on the companion pass yet (you buy a ticket for regular price, your companion gets on the same flight for max 500 bucks, cheaper if its domestic or USA)

and all the regular 50% off vouchers that ive accumulated

p.s. your e upgrades, and SQM also roll over into next year so get an extra year to spend them with these credit card. If you guys do any traveling at all, this is essentially the best card

there's a CIBC aeroplan elite card that does about the same and also TD. So youre not locked into amex, but i think i went with amex because 1) metal card 2) slightly higher earn on points

https://www.cibc.com/en/personal-banking/credit-cards/all-credit-cards/aeroplan-visa-infinite-privilege-card.html
https://www.td.com/ca/en/personal-banking/products/credit-cards/aeroplan/aeroplan-visa-infinite-privilege-card

If you guys want the amex, let me know and ill refer you. we both get additional 10k in aeroplan points

[68style]

this is essentially the best card.............. if you're rich lol

[EvoFire]

I was looking at the TD one as it would be no annual fee for me, but it's still not the most enticing. We kept the First Class travel card a few years ago when TD Aeroplan was being rolled out because TD 1st Class it gave us the flexibility that Aeroplan doesn't. Dislike being stuck with AC and in honestly we typically DO NOT fly them. Flying to Europe is usually with Lufthansa or Air France, flying to Asia is usually with Cathay. Only time I fly AC is domestic.

So at the end of the day, no change for us. And we ain't balling enough and we don't spend company money and get reimbursed for shit


LOL first world problems..... hahaha

[Badhobz]

yeah it doesn't work for a lot of people (lufthansa is also star alliance, so you would grab Aeroplan points on that as well https://www.staralliance.com/en/members), but it works if you combine daily spending with the occasional business trip. Everything I do gives me Aeroplan points, even those avis rentals and Amazon purchases.
https://i.postimg.cc/Yqrq6BS3/IMG-2951.png

its a shit ton of points per month

[bcrdukes]

Most of my domestic travel is on Air Canada so I leverage Star Alliance partners when travelling overseas so the TD Aeroplan Visa's perks have been benefit to us.

I've been traveling on Skyteam airlines, and had good experiences with them, but on credit cards, none of which will that provide any significant gain or advantage. I don't travel on OneWorld airline alliances so nothing of interest for me on their credit card partners.

[G]

this is essentially the best card.............. if you're rich lol

Bingo - If you have high spend, higher tier cards work best. If you can't hit the minimum spend to get the bonus then theres no point getting a higher tier card and forcing yourself. I usually try to time large expenses like insurances and what not so that you can hit the minimum spend without struggling.

If you don't spend much but want to get some sort of benefit, the FYF (first year free) Aeroplan cards from either TD or CIBC are great. If you have an SO, then get them to sign up for one and you sign up for one so you get the bonus twice (as opposed to supplementary cards).

[mikemhg]

There is actually an offer right now for the CIBC Aventura Visa

Get a total of up to 40,000 Aventura Points (up to $850 in travel value‡) during your first year:
15,000 Aventura Points when you make your first purchase†
5,000 Aventura Points on first purchase within the first 4 monthly statement periods†
20,000 Aventura Points when you spend $3,000 or more in the first 4 monthly statement periods†
Get 2 annual fee rebates ($278) for you (the primary cardholder) and up to three authorized users ($50 each): over $378 value†.
Elevate your airport experience with 4 complimentary visits at 1,200+ lounges globally through Visa Airport Companion Program2: over $190 value2
Plus, get a NEXUS™ Application Fee rebate♢: a $50 value†



You can even redeem Aventura Points for 1.25x the usual rate on travel purchaes. Ie. 40,000 Aventura points = $400 statement credit, but its now $500 statement credit until end of March 2024.

I used 80,000 points recently for $1,000 off hotels booked on Expedia.

Not bad, I signed up, receiving the card shortly here.

Currently just rolling with my HSBC World Elite MC, thinking about cancelling it next year.

I'll report back.

[whitev70r]

the best credit card is the one with no annual fee and the highest % cash back you can find. Period.

[Badhobz]

^i used to think that too. I was getting back about 1k a year on average but the savings I made on flights this year alone has way surpassed this figure

That Hong Kong trip that I got upgraded to business class saved me 4k right there. Those Avis presidential club upgrades also saved me hundreds (albeit I’d never pay my own money to rent a nicer vehicle)

So a ticket to New Zealand in Feb is around 50k in aeroplan points for economy. That means if I continue my regular spending I’ll have 2-3x tickets of that calibre a year. Base price of that economy ticket is around 2-3k cad each.

[Hondaracer]

Ended up going with the aeroplan reserve so I can ball like Hobz

[Badhobz]

Remember to link up all the other perks when you get your card

- Journie now gives aeroplan (that chevron shit)
- Uber eats / Uber gives aeroplan
- Avis go link that and then get upgraded to presidents club
- when you shop online go through the aeroplan website to trigger 3x or more points special on websites like Amazon, bestbuy, Apple, etc

They’ll send you a big ole fancy box too. Presentation of the card is really nice

[supafamous]

the best credit card is the one with no annual fee and the highest % cash back you can find. Period.

At the sub $100k income level I'd agree but after that travel points return more value (assuming you travel). I'm about 2 years into a Cobalt card and a few months into a TD Aeroplan card and I've got about 400,000 points now and they are typically valued between 1.5-2 cents per point ($6-8k). The Cobalt and TD card probably only handle about 60-70% of my CC spend too - the cash back equivalent would have been a lot lower for me (I've never had more than $1200 or so in cash back in a single year).

[whitev70r]

Yah, I was definitely speaking for non ballers, <$100K per yr, non 1st class ticket world travellers. Just plain peasants :lol.

[Badhobz]

I don’t think you need to be baller, you just need to fly or have a desire to fly. Amex is more restrictive on where it’s taken but I’d probably go cibc or TD and see if I can get a aeroplan Mastercard. That way you can use it everywhere including Costco.

Value for money is good with aeroplan only because there are so many airlines on star alliance you’re not restricted to just stupid air Canada

[Hondaracer]

That’s really our mentality but also MIGHT spend enough to get status

Have some bigger trips next year where Business class is a priority so while we may have been better off with some cash back card, the potential of the Amex is huge for us. Also the priority boarding, security, and lounge access almost pays for itself and makes a usually unbearable situation somewhat better.

Does your wife have a companion card Hobz? I think we’re gonna have to eat that $199 and get the companion card because wife travels a bit for work and can’t rely on me being there for the perks lol..

Even with the 599 + 199 companion, call it $800. I’m cancelling my avion ($150+ fee) and two Scotia infinite passports ($250 annual fees total)

So really, the companion fare with the Amex basically covers the difference and the rest is gravy

[sonick]

Are there cases where flights booked by aeroplan go 'on sale' and have deals compared to cash price?

Or is it pretty much tied to the cash price (e.g. if its cheap by cash, it'll be cheap by aeroplan, and vice versa)?

Whats the best way to see what deals there are to book by aeroplan?

[Badhobz]

That’s really our mentality but also MIGHT spend enough to get status

Have some bigger trips next year where Business class is a priority so while we may have been better off with some cash back card, the potential of the Amex is huge for us. Also the priority boarding, security, and lounge access almost pays for itself and makes a usually unbearable situation somewhat better.

Does your wife have a companion card Hobz? I think we’re gonna have to eat that $199 and get the companion card because wife travels a bit for work and can’t rely on me being there for the perks lol..

Even with the 599 + 199 companion, call it $800. I’m cancelling my avion ($150+ fee) and two Scotia infinite passports ($250 annual fees total)

So really, the companion fare with the Amex basically covers the difference and the rest is gravy

I got her companion card for free. Call Amex, their customer service is top tier. Once your card comes in, see what they have as a member since XXXX. Mine was 2010 as that’s when I had my Amex Costco card and because of that they were able to throw in her card for free.

Just remember though her card will only boost up your aeroplan account. The way to get around that is to create a aeroplan family pool where all members are shared. Me and the wife are in this aeroplan family pool and she can use my points or vice versa. So every time we fly together we get double the points.

[Badhobz]

Are there cases where flights booked by aeroplan go 'on sale' and have deals compared to cash price?

Or is it pretty much tied to the cash price (e.g. if its cheap by cash, it'll be cheap by aeroplan, and vice versa)?

Whats the best way to see what deals there are to book by aeroplan?

It’s usually tied up to cash. So 10,000 aeroplan is roughly 1000 bucks.

When you hit 25k tier (first tier on aeroplan status) you start getting these 50% off aeroplan vouchers to use within domestic and USA.

As you progress higher, you eventually get these 50% off international vouchers too.

With these vouchers any aeroplan points bookings are halved. So say you go YVR to Oahu. Regular might be 30k worth of points for economy. You apply your voucher and and it’s now 15k of points only.

https://i.postimg.cc/LsSrDCkN/IMG-2956.png

[Hondaracer]

I got her companion card for free. Call Amex, their customer service is top tier. Once your card comes in, see what they have as a member since XXXX. Mine was 2010 as that’s when I had my Amex Costco card and because of that they were able to throw in her card for free.

Just remember though her card will only boost up your aeroplan account. The way to get around that is to create a aeroplan family pool where all members are shared. Me and the wife are in this aeroplan family pool and she can use my points or vice versa. So every time we fly together we get double the points.

Yea fuck never had an Amex before so not sure if they will budge. Worth a shot though

[Badhobz]

You can get her a complimentary secondary card for free too but it lacks some of the perks like lounge access. However it will still go towards your overall accumulation.

As for lounge access, they give out vouchers quite frequently depending on your status so you can throw them around to anyone you want. I’ve accumulated so many of these stupid lounge passes that I never use and now they are expiring.
https://i.postimg.cc/m25LdshV/IMG-2944.png

[sonick]

It’s usually tied up to cash. So 10,000 aeroplan is roughly 1000 bucks.

When you hit 25k tier (first tier on aeroplan status) you start getting these 50% off aeroplan vouchers to use within domestic and USA.

As you progress higher, you eventually get these 50% off international vouchers too.

With these vouchers any aeroplan points bookings are halved. So say you go YVR to Oahu. Regular might be 30k worth of points for economy. You apply your voucher and and it’s now 15k of points only.

Thanks, do you suggest that it would be good to convert any Amex points into Aeroplan to maintain a certain tier?

I don't travel often these days but do plan at least one big trip a year, and I have decent amount of amex points that i dont really use day to day. Is it better off having it sit in Aeroplan for the tier than to have it sit in amex doing nothing?

[Hondaracer]

You can get her a complimentary secondary card for free too but it lacks some of the perks like lounge access. However it will still go towards your overall accumulation.

As for lounge access, they give out vouchers quite frequently depending on your status so you can throw them around to anyone you want. I’ve accumulated so many of these stupid lounge passes that I never use and now they are expiring.
https://i.postimg.cc/m25LdshV/IMG-2944.png

Can you just shoot these between aeroplan accounts? Or how do you transfer them

[Badhobz]

^these are just a QR code. You take a screenshot and send them to whoever you like. They then scan this QR code at the lounge and get in.

[Hondaracer]

Sweet that’s pretty easy then. Are they awarded just randomly or based on spending?

[Badhobz]

Thanks, do you suggest that it would be good to convert any Amex points into Aeroplan to maintain a certain tier?

I don't travel often these days but do plan at least one big trip a year, and I have decent amount of amex points that i dont really use day to day. Is it better off having it sit in Aeroplan for the tier than to have it sit in amex doing nothing?

When you transfer Amex points into aeroplan points you don’t get the status. You only get the aeroplan points. So you can transfer in 50k but you won’t get 50k aeroplan status.

AC status comes from SQM and SQD.

Sqm is miles flown
SQD is dollars spent.

In order to reach a status, you need to spend and achieve a certain amount of miles / dollars. That status is then applied to when you achieve this status and into next year. So let’s say you hit 25k status by March 2024. You then get 25k status till end of 2024 and also in 2025. It rolls into one year.

Regular spending won’t give you status miles unless you have one of these special credit cards like the Amex reserve. Where 5k regular spending yields 1k SQM.

You want the aeroplan status because it unlocks e upgrades. Which is how I got from YVR to Hong Kong on business but only paid premium economy.

[Badhobz]

Sweet that’s pretty easy then. Are they awarded just randomly or based on spending?

Based on aeroplan status. They unlock the more you fly, the more you spend. So as soon as you bit 25k you get a 50% off voucher for domestic and 1 lounge pass I think. Or maybe 2.

[G]

It’s usually tied up to cash. So 10,000 aeroplan is roughly 1000 bucks.

When you hit 25k tier (first tier on aeroplan status) you start getting these 50% off aeroplan vouchers to use within domestic and USA.

As you progress higher, you eventually get these 50% off international vouchers too.

With these vouchers any aeroplan points bookings are halved. So say you go YVR to Oahu. Regular might be 30k worth of points for economy. You apply your voucher and and it’s now 15k of points only.


Man its so hard to hit 25k if you don't fly lol I've been trying for a while, this year I got up to 90k on my EDQ but can never hit the target :alone:

[Badhobz]

That’s why you need the credit card. 5k = 1k Sqm.

50k a year on credit card would yield you 10k Sqm or almost half way there. Then all you need is one trip to Asia or a few domestic trips and you got your 25k

[Badhobz]

Like I might just burn a hundred bucks on a whatever trip just so I can reach the next reward before year end. I’m like 4 dollars away. wtf

https://i.postimg.cc/MpkjHVxy/IMG-2957.jpg
https://i.postimg.cc/RZcJHhV2/IMG-2958.png

[68style]

LOL buy the cheapest flight you can find and don't even get on it!

[roastpuff]

Are there cases where flights booked by aeroplan go 'on sale' and have deals compared to cash price?

Or is it pretty much tied to the cash price (e.g. if its cheap by cash, it'll be cheap by aeroplan, and vice versa)?

Whats the best way to see what deals there are to book by aeroplan?

The best deals on AP are actually the partner flights (Star Alliance airlines + a few non alliance members like Emirates/Etihad) as they are at a fixed price. For example the hot redemption is 55k Business Class ANA to Japan, whereas with AC that price is in the 150k and up range due to dynamic cash pricing.

Aeroplan USA/domestic is mostly tied to cash price but I have gotten some good "deals" before (25k lie-flat YVR-YYZ business) from time to time.

I suggest searching Flyertalk and the Facebook Aeroplan groups for tips and tricks, the partner awards are elusive but you can score them if you plan ahead of time and try to snag them 330 days out (i.e. when they are first released).

Thanks, do you suggest that it would be good to convert any Amex points into Aeroplan to maintain a certain tier?

I don't travel often these days but do plan at least one big trip a year, and I have decent amount of amex points that i dont really use day to day. Is it better off having it sit in Aeroplan for the tier than to have it sit in amex doing nothing?

As said by badhobz, conversion doesn't get you tier, so no point to put it into AP. Better to keep it in Amex, you can also transfer to other airlines like Delta/AA etc which may have better deals depending on destination. Like using Delta into SLC/MSP/ATL other Delta hubs can be a good deal as it can be as low as 7.5K SkyMiles at times.

LOL buy the cheapest flight you can find and don't even get on it!

They'll cancel it if you no-show for boarding lol. Best he do a hop to Victoria or something.

[G]

That’s why you need the credit card. 5k = 1k Sqm.

50k a year on credit card would yield you 10k Sqm or almost half way there. Then all you need is one trip to Asia or a few domestic trips and you got your 25k

I think i'm in a different tax bracket than you :pokerface:

[EvoFire]

I think i'm in a different tax bracket than you :pokerface:

I think most people are. I do not come close to spending 50k on cc. Maybe for the WHOLE family we are around the 40k mark.

[Badhobz]

Yes I know you’re higher, no need to brag bro

[bcrdukes]

Visit me in Toronto, Badhobz. :alone:

[Badhobz]

i booked a flight to san fran. Im going back to stanford and grab some el pollo loco to eat in their manicured lawns. Gonna throw chicken bones everywhere and be totally uncouth about it.

FUCK YOUR LAWNS you rich bastards, go plant another one.

[Bender Unit]

BUMP.

Just realized HSBC is going to cancel the World Elite MC.
That's my MAIN card which I love it very much.

What's the closest alternative

[Hondaracer]

I think most people are. I do not come close to spending 50k on cc. Maybe for the WHOLE family we are around the 40k mark.

That’s what I thought initially, as I thought I wouldn’t be able to make the minimum for the companion fare for the Amex reserve

Fast forward having the card for 2 months.. Jesus lol.. almost half way to status in 2 months lol

[68style]

That’s what I thought initially, as I thought I wouldn’t be able to make the minimum for the companion fare for the Amex reserve

Fast forward having the card for 2 months.. Jesus lol.. almost half way to status in 2 months lol

If you humblebrag any more than this, we're gonna change your name to hehehe

[GLOW]

I think i'm in a different tax bracket than you :pokerface:

like a real G
:awwyeah:KEKW:lawl::D

[Hondaracer]

If you humblebrag any more than this, we're gonna change your name to hehehe

I think it’s moreso how bad I am at saving and prone to frivolous spending than how balling I am lol KEKW

[hud 91gt]

Any advice for hotel stays with CC points?

Building a house so may as well get a mucho returno credit card going with the most rewards for the entire life savings I’m about to spend lol.

[bcuzracecarz]

I’m a huge fan of the Marriott amex, if you are okay with it not working absolutely everywhere (Costco, etc). Get a free room stay a year ($129 annually for the card itself) so pays for itself just with that.

[Hehe]

If you are into points for travel, I think the best card is still Amex. There are some strategies you can employ to really maximize points earnings by just paying a bit of fees.

And for people who say they can’t put over 50k on CC, you are not trying. I put everything. And I do mean everything that’s not cash only on my card. Going as far as using some services to pay for stuff that’s usually cash only by paying a bit of fees. My math is that with everything in, with the points paying for my travels, my actual out of pocket expense is still lower. So those fees are just part of equation.

Same thing with business. We do everything from expenses to property taxes in some cases for our investment properties in the US in one single card. And US Amex has so many coupons and promotions. There are years we get over a million points without having any special one time expenses.

Then we just spend all those points on flying.

[hud 91gt]

Flying is cheap for me, hotels are not ��

[EvoFire]

If you are into points for travel, I think the best card is still Amex. There are some strategies you can employ to really maximize points earnings by just paying a bit of fees.

And for people who say they can’t put over 50k on CC, you are not trying. I put everything. And I do mean everything that’s not cash only on my card. Going as far as using some services to pay for stuff that’s usually cash only by paying a bit of fees. My math is that with everything in, with the points paying for my travels, my actual out of pocket expense is still lower. So those fees are just part of equation.

Same thing with business. We do everything from expenses to property taxes in some cases for our investment properties in the US in one single card. And US Amex has so many coupons and promotions. There are years we get over a million points without having any special one time expenses.

Then we just spend all those points on flying.

I'm way too Chinese and at least half of our groceries and 1/4 of our meals out are cash.

[Hondaracer]

If you are into points for travel, I think the best card is still Amex. There are some strategies you can employ to really maximize points earnings by just paying a bit of fees.

And for people who say they can’t put over 50k on CC, you are not trying. I put everything. And I do mean everything that’s not cash only on my card. Going as far as using some services to pay for stuff that’s usually cash only by paying a bit of fees. My math is that with everything in, with the points paying for my travels, my actual out of pocket expense is still lower. So those fees are just part of equation.

Same thing with business. We do everything from expenses to property taxes in some cases for our investment properties in the US in one single card. And US Amex has so many coupons and promotions. There are years we get over a million points without having any special one time expenses.

Then we just spend all those points on flying.

So I was talking to a family member who owns a business, uses contractors etc. but also has about 10-15 people employed at any one time. He was telling me AMEX used to have a payroll system where you would route your payroll through them

He said he was getting like 200,000+ points a month lol.. I guess Amex cut out that service shortly after he started using it however as they didn’t want to be in the banking service but sounded pretty crazy in terms of corporate accumulation of points

[bcrdukes]

AMEX has a program called BIPS (I forgot what it stands for) but it's exactly that - accelerated payment terms (i.e. Net 10 / Net 15) or something for business users and you can easily rack points up - fast.

hud 91gt - Depending on where you are, and what your future travel plans are, I'm more of a Marriott guy myself and an AMEX user. Sadly, I don't have the Marriott AMEX myself because I don't travel enough anymore to justify it, but if you plan on staying at any Marriott-chain hotel, it can be well worth considering.

[HonestTea]

If you're redeeming Bonvoy points, you also get the 5th consecutive night free.

[whitev70r]

Not to hijack this thread but similar question.

Does anyone have a suggestion for best bank account, by that I mean no monthly fees and free ATM, e-transfers. I know you prob have to keep balance over a certain amount but are there any such accounts?

[AstulzerRZD]

Any advice for hotel stays with CC points?

Building a house so may as well get a mucho returno credit card going with the most rewards for the entire life savings I’m about to spend lol.

Right now, Hyatt is the only hotel rewards program worth a damn; challenge is no Canadian card transfers to em.

If you wanna go full ham, I'd find a way to get an ITIN and get started on some Chase cards

[Hehe]

Not to hijack this thread but similar question.

Does anyone have a suggestion for best bank account, by that I mean no monthly fees and free ATM, e-transfers. I know you prob have to keep balance over a certain amount but are there any such accounts?

IIRC, BMO's all-inclusive account is free with 6k balance.

[danned]

missed HSBC

[supafamous]

IIRC, BMO's all-inclusive account is free with 6k balance.

TD's all inclusive plan is free as well at a $5k monthly balance. If you can maintain a $5k balance then the big banks are all the best bets - just a matter of who has a branch/ATM near you or if you already bank with them in other ways. Most of the big banks will also cover the annual fee on one of their premium cards - I get my TD Aeroplan card for free.

If you can't keep a balance then Tangerine works just fine as a free account especially if you have a Scotia ATM/branch near you.

[bcrdukes]

Not to hijack this thread but similar question.

Does anyone have a suggestion for best bank account, by that I mean no monthly fees and free ATM, e-transfers. I know you prob have to keep balance over a certain amount but are there any such accounts?

EQ Bank - https://www.eqbank.ca/personal-banking/personal-account
No monthly fees
Free ATM anywhere in Canada
Free e-transfers
No minimum balance required

[whitev70r]

So EQ is like Tangerine ... except with the Levy father-son as their face of the bank except with different features.

Here's a comparison chart of the two
https://www.nerdwallet.com/ca/banking/banking-eq-bank-vs-tangerine

[bcrdukes]

Yes, similar but they have their differences. As they say. Pick your poison.

I've been using EQ Bank for a number of years. So far, so good.

[68style]

I flip $ between EQ and Tangerine depending who has better rates at any given time. Works good.

[bcrdukes]

Ballin'! :ahwow:

[Infiniti]

BUMP.

Just realized HSBC is going to cancel the World Elite MC.
That's my MAIN card which I love it very much.

What's the closest alternative

If you are a current holder of the HSBC WE MC, you would've received a transition package to RBC and a new RBC Avion visa (that includes the same terms for 1 year as the HSBC MC) card.

[Hehe]

If you are a current holder of the HSBC WE MC, you would've received a transition package to RBC and a new RBC Avion visa (that includes the same terms for 1 year as the HSBC MC) card.

But you can't use them at Costco Canada! It sucks as that was my Costco card.

[radeonboy]

I ended up with the Rogers Mastercard now that my HSBC card is gone.

World Elite MC (starting on April 9, 2024):
- 3% on purchases in USD.
- 1.5% on everything else if you have no Rogers/Fido/Shaw Services.
- 2% on everything if you have at least one Rogers/Fido/Shaw service.
- 1.5x bonus when you redeem on any Rogers/Fido/Shaw purchase charged to the card. It equals to 4.5% (4.5% - 2.5% FX Fee = net 2% return) on purchases in USD and 3% on everything else when you have at least one Rogers/Fido/Shaw service.
- 5 Roam Like Home days for free every card membership year (Rogers mobile customers only)


Details here:
https://forums.redflagdeals.com/rogers-bank-credit-cards-up-3-cash-back-everything-2292136/

Originally I was going to live with the Avion Visa until realizing I still need a Mastercard for Costco.

[supafamous]

I ended up with the Rogers Mastercard now that my HSBC card is gone.

Details here:
https://forums.redflagdeals.com/rogers-bank-credit-cards-up-3-cash-back-everything-2292136/

Originally I was going to live with the Avion Visa until realizing I still need a Mastercard for Costco.

That's a very solid card as a #2 card (after the Cobalt). If I didn't spend so much on Amazon (I use the MBNA Amazon MC) I'd consider that as my standard MC.

[SSM_DC5]

https://youtu.be/KAHrH06BaVQ?si=mOajYwYPspWT9cD-
The Rogers mastercard made it to this guys top 7 list

[bcrdukes]

Hmm your link went to a BMO card video.

[SSM_DC5]

K, try again. I think it copied the link to the ad after the video finished

[supafamous]

So Amex is raising the monthly fees on its Cobalt card to $15.99/mo and I'm not sure I'm going to stick with it as my bonuses are gone and I just don't eat out as much as I used to and most of my grocery shopping is at Costco/Superstore now.

What's everyone preferred card stack right now?

I'm:

Cobalt: Groceries (Save-On/PriceSmart), Restaurants
Amazon MC: Amazon and Costco
CT MC: Prop tax, utilities.
TD Visa Infinite Aeroplan (free card): Everything else

This used to work great for me when I ate out a lot, bought tonnes on Amazon, and shopped more at Save-On but all three of those are down a lot this year (and will be for the next few years).

Other considerations:
- I'm not with Rogers so the Rogers card isn't that appealing to me (I think).
- I've been mostly collecting points the last 3 years. I have >525k Amex points and >200k Aeroplan.
- I'm self-employed now so that will limit some of my card options (My wife earns over $100k though so we can apply through her).
- We spend over $1k/mo at Costco
- We won't be travelling to the states any time soon but we do plan on international travel in the coming years (Japan!)
- Amex restaurant spending is only around $600/mo now, the rest goes on other cards or is in cash.

[Razor Ramon HG]

Based on what you're saying, I'd just replace the Cobalt with the TD Aeroplan card to continue racking up AP points and keep everything else the way it is.

[Badhobz]

I switched from Amex aeroplan reserve to the TD Infiniti aeroplan prestige reserve douche bag card. Whatever it’s called, it’s the same thing as the Amex card other than it’s a visa and taken everywhere.

The Amex card was okay but nobody wanted to take it in Asia.

[6793026]

i just want the best cash back...

[Badhobz]

Cash back is the worst option to take. Always go with a mileage or rewards card as the perks easily pay for themselves and then some.

For example my td aeroplan blah blah blah 599 annual fee one comes with a companion pass. That means my wife flies whatever class I pick and pays a 300 dollar “fee”. That’s a huge saving by itself. Used it in Australia and saved like 3k right there. Single perk.

Not to mention the amount of aeroplan points I’ve accumulated. If you spend like me, you’ll easily get two business class tickets to Hong Kong round trip every year on points alone. That’s what ? 8-10k a ticket ? So almost 20k of rewards right there.

[bcrdukes]

If you spend like me.

There is you. :accepted:

And there is everyone else. :lol

[68style]

Start typing my name on application for TD Aeroplan and it stopped me like 3 letters in, said not Hobz or Asian enough. Better luck next time.

[Hehe]

If you primarily fly AC, TD Aero or AMEX Aero are the two best cards.

But if you don't fly AC or like me, who avoid AC whenever I have the option, I suggest AMEX Cobalt. The requirement isn't all that bad and the transfer partner flexibility is amazing.

This is especially useful if you want to fly first class on points as most airlines with truly good F now kinda reserve their F for only their own mileage members.

Of course there's AMEX Platinum if you are big business spenders. Unlike Cobalt, which has a usual limit, the Platinum has no hard limit per se unless they suspect a fraud. Works great for businesses (or if you can get reimbursed) since you never want to be in a position where your card gets declined. A buddy of mine racks up anywhere from 200-400k a month on average and up to 800k for his video production business, he's firm AMEX Plat believer as he never has to worry getting to close to the spending limit. It's not a perk for most, but if you are spending for business, it's definitely worth looking into and one that I rarely hear people talking about.

[Gerbs]

Right now, Hyatt is the only hotel rewards program worth a damn; challenge is no Canadian card transfers to em.

If you wanna go full ham, I'd find a way to get an ITIN and get started on some Chase cards

Anyone gotten a ITIN and gotten US Cards?

I heard of Canadians using their friends address in NY to ship cards and also be an Auth user to build credit.