GreedyRates http://www.greedyrates.ca/ en-us GreedyRates http://www.greedyrates.ca/ http://www.greedyrates.ca/images/logo.png Clear off your Credit Debt With 0% Balance Transfer Cards http://www.greedyrates.ca/blog/clear-off-your-credit-debt-with-0-balance-transfer-cards-v2-med Thu, 27 Jul 2017 13:02:50 -0400 At the same time, you don’t want a short promotional period that won’t give you the time to pay off your debts, before the regular interest rate comes into effect.
This is an opportunity to anyone who has financial concerns of any kind to put an end to them, and save some money in the process.  Here's a list of the best zero percent balance transfer cards in Canada;

 1. MBNA Platinum Plus® MasterCard® - 
Click here to apply for the MBNA Platinum Plus® MasterCard®
MBNA Canada continues to lead the market by offering the country's lowest and longest 0% balance transfer credit card for a market-leading 12 months. There is no annual fee for this card. No other balance transfer credit card in Canada offers a 0% rate with a promotional term as long as 12 months.

Another unique feature of this card is that MBNA will transfer cash into your bank account at 0% for 12 months as well. You can then use that cash to pay down other debts or for ANY other purpose - just like a cash advance, only MBNA calls it a "deposit".

There is a $7.50 or 1% balance transfer fee (whichever is greater), which is also on the low end. We also like the Platinum perks the card offers, including car rental insurance, trip interruption, extended warranty protection and price protection. 
[button color="red" size="medium" link="http://trk.aztechint.com/process?destination=1416717campaign=671954traffic_source={{traffic_source}}adid={{adid}}adtitle={{adtitle}}publishername={{publishername}}sid={{sid}}sourcename={{sourcename}}vurtid={{vurtid}}linkindex=COYC-PP-ApplyNowclick_id={{click_id}}" ]Apply Now[/button]
2. Best Western MasterCard® -
Click here to apply for the Best Western MasterCard
This is another card from MBNA that offers a 1.99% APR for 10 months on balance transfers and no annual fee. After that, the interest rate (APR) on transferred balances will be 21.99%. Instead of a pure balance transfer credit card, the Best Western MasterCard is a hotel rewards card, with no annual fee and a 20,000 point sign-up bonus with your first purchase - enough for a free nights stay.  Might as well get a free hotel night while transferring your balance!

There is a $7.50 or 1% balance transfer fee. This is a good card for those looking for a very strong balance transfer offer - 10 months is the second longest one out their, but also value a free hotel night stay welcome bonus!
[button color="red" size="medium" link="http://trk.aztechint.com/process?destination=1416722campaign=671954traffic_source={{traffic_source}}adid={{adid}}adtitle={{adtitle}}publishername={{publishername}}sid={{sid}}sourcename={{sourcename}}vurtid={{vurtid}}linkindex=COYC-BW-ApplyNowclick_id={{click_id}}" ]Apply Now[/button]
3. Scotiabank Value Visa Card - 
Click here to apply for the Scotiabank Value Visa Card
This balance transfer credit card offers a 1.99 % interest rate on balance transfers for the first 6 months on accounts opened by July 31, 2017 . There is a $29 annual fee. The advantage of this card is that at the end of the 6 month introductory period, the go to interest rate will be 11.99% on your transferred balance and new purchases. We always recommend trying to pay down your balance during the promotional period. If you haven't, we would recommend transferring your balance to another low balance transfer credit card offer (balance surfing), 1 month prior to the promotional rate expiring. That way you will be sure to beat even a low rate of 11.99%.
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Conclusion

A 0% balance transfer credit card is not easy to come by in Canada. As you can see, there are only two 0% offers in the country right now. Regardless, a 0% balance transfer rate for 12 months is better than any line of credit rate available, so are some of the .99% and 1.99% offers.

While you can't transfer a balance from one MBNA/TD card to another, what you can do is balance surf from your MBNA card, to a Scotia card, back to an MBNA card, to an Amex card, back to an MBNA card, etc. Some folks even have multiple Platinum Plus cards, to cycle in and out of the 0% offer.

We continue to recommend balance transfers as the best strategy to pay off any high interest credit cards, store cards or fixed payment loans you may have. No other products offer interest rates as low. You could save hundreds if not thousands in one year alone. It's one of the best bank beating strategies out there - We recommend to apply for the MBNA Platinum Plus® MasterCard® - Good luck!

]]>
marc@greedyrates.ca
TD vs. AmEx Aeroplan Cards Face-Off http://www.greedyrates.ca/blog/td-vs-amex-aeroplan-cards-face-off Wed, 26 Jul 2017 14:27:55 -0400
Some of the most lucrative Aeroplan cards are offered by TD and American Express. How are you to choose between them? We’ve done the hard work of laying out the important features, benefits, and costs of each Aeroplan charge card.

*Note: We've included the American Express Gold card detailed below even though it's not a dedicated Amex Aeroplan card, because its points can be transferred to Aeroplan on a 1:1 basis.

So here we go...
The Best Rewards Tier: Amex Gold Rewards vs. TD Aeroplan Platinum



Card


American Express® Gold Rewards Card



TD® Aeroplan® Visa Platinum* Credit Card



Annual Fee

1st year FREE, $150 after


$89



Signup Bonus Points

25,000


10,000



Basic Rewards

1 point per $1


1 mile per $1.5



Accelerated Rewards

2 points per $1 spent at selected gas stations, drugstores, and grocery stores


1 mile per $1 spent in eligible grocery stores, drugstores, and gas stations; double miles on presenting Aeroplan membership card at participating retailers



Insurance

Emergency medical, car rental theft and damage, trip interruption, lost/stolen baggage, flight delay, hotel/motel burglary, travel accident


Delayed and lost baggage, flight/trip delay, common carrier travel accident, car rental collision/loss damage



Annual Income Requirement

None


None



Credit Limit

No pre-set credit limit


$1,500+



Extra Benefits

Transfer your points to frequent flyer programs, or one-to-one to Aeroplan® and Avios


10% off Avis and Budget rent-a-car in the US and Canada




The Premium Cards: Amex Platinum vs. TD Privilege



 Card


American Express® AeroplanPlus® Platinum Card



TD Aeroplan Visa Infinite Privilege* Card



Annual Fee
$499
$399


Signup Bonus Points
40,000
25,000


Basic Rewards
1.25 miles per $1
1.25 miles per $1


Accelerated Rewards
1.5 points per $1 spent annually over $25k
1.5 miles per $1 in eligible grocery stores, drugstores, and gas stations and on aircanada.com; double miles on presenting Aeroplan membership card at participating retailers


Insurance
Trip interruption, travel accident, travel emergency, trip cancellation, flight delay, baggage delay, lost/stolen baggage, hotel/motel burglary
Travel medical, trip cancellation, trip interruption, flight/trip delay, common carrier travel accident, car rental collision/loss damage, delayed/lost baggage


Annual Income Requirement
None
$200,000 household


Credit Limit
No pre-set credit limit
$10,000+


Extra Benefits
Referral bonus of 15,000 Aeroplan Miles for each approved referral.
10% off Avis and Budget rent-a-car in the US and Canada



The 2nd Tier Cards: Amex Aeroplan Gold vs. TD Aeroplan Infinite



Card

American Express® AeroplanPlus® Gold Card


TD® Aeroplan®Visa Infinite* Credit Card



Annual Fee

$120


$120



Signup Bonus Points

15,000


15,000



Basic Rewards

1 mile per $1


1 mile per $1



Accelerated Rewards

1.25 points per $1 spent annually over $10

1.5 miles per $1 in eligible grocery stores, drugstores, and gas stations and on aircanada.com; double miles on presenting Aeroplan membership card at participating retailers


Insurance
Flight delay, baggage delay, lost/stolen baggage, hotel/motel burglary, travel accident, car rental theft and damage
Travel medical, trip cancellation, trip interruption, delayed/lost baggage, flight/trip delay, common carrier travel accident, car rental collision/loss damage


Annual Income Requirement

None


$60,000 personal or $100,000 household



Credit Limit

No pre-set credit limit


$5,000+



Extra Benefits
Two free supplementary cards to earn points faster
Use Aeroplan miles to pay for flight fees, taxes, and surcharges




Which Card Wins?
From the TD Aeroplan cards and Amex cards listed above, which reigns supreme? We can’t help but lean towards the flexible American Express Gold Rewards card. Even though it’s not an Aeroplan card, its points can be exchanged on a like for like basis for Aeroplan miles. Also, its rewards rate of 2 miles per dollar at eligible stores and gas stations is the highest of the bunch. With 25,000 bonus miles just for signing up, no minimum income requirements, and no annual fee for the first year (plus a free supplementary card), this card can help you rack up several flights for free, just by making your regular purchases.]]>
marc@greedyrates.ca
Put Your Money to Work with These Scotiabank Savings Accounts http://www.greedyrates.ca/blog/money-to-work-soctiabank-savings-accounts-med Wed, 26 Jul 2017 13:04:25 -0400

The Scotiabank Momentum Savings Account


Those who want to earn interest at an accelerated rate and get rewarded for infrequent withdrawals will find an ideal solution in the Momentum savings account by Scotiabank. The bank currently offers new customers 2.15% interest until August 31st, 2017 – so signing up now is recommended. Customers can earn extra interest every 90 days by holding a balance of over $5,000 and not withdrawing, and they pay no monthly fee for the privilege.



05% interest rate for any balance
7% interest on balances of $5,000 or more, when no money is withdrawn every 90 days
Promotional offer of 2.15% interest until August 31st, 2017
No monthly fees


Scotiabank Savings Accelerator


For freedom from taxes and the ability to easily move money between Scotiabank accounts, the Scotiabank Savings Accelerator account is one of the best options available. Customers pay no monthly fees while benefiting from a way to save and avoid taxes when the time comes to withdraw funds from tax free and other registered plans. Moving funds in and out of the Savings Accelerator account is free, enabling customers to adjust their financial portfolios on an as-needed basis.



Can be opened in conjunction with other applicable registered and non-registered accounts such as Tax Free Savings Accounts
Unlimited free transfers between Scotiabank accounts
$0.00 monthly fees



[H2] The Money Master Savings Account by Scotiabank



Instead of using a charge card or keeping money in cash, the Money Master account allows free and easy access to funds, with no monthly fee and steady interest accumulation over time. For those who want a straightforward way to save, this savings account by Scotiabank represents one of the best options.



Earn 0.02% interest no matter the account total
$0.00 monthly fees
Unrestricted access to account funds
Unlimited, free transfers between Scotia accounts



[H2] More Flexibility. More Savings.



The perks of better interest rates, rewards and free transfers add up over time and should sway you to consider switching accounts, no matter how long you’ve been with your current bank. With Scotiabank, savers now have many options that enable them to save and earn at the same time alongside the ability to manage their hard-earned money with increased dexterity.]]>
marc@greedyrates.ca
Get Rewarded for Everyday Purchases with Scotiabank http://www.greedyrates.ca/blog/get-rewarded-for-everyday-purchases-with-scotiabank-med Wed, 26 Jul 2017 11:19:08 -0400
[caption id="attachment_7912" align="alignright" width="300"] James D. Lancaster - Financial Editor; Savings and Checking Accounts[/caption]

We believe our readers can apply their bargain-hunting mindset to other aspects of their financial well-being, and we plan to expand our focus to include other opportunities where Canadians can save, starting with the chequing and savings accounts offered by various Canadian banks.

Too many Canadians hold the same chequing account with the same bank for years and years, without looking for more competitive offers. Scotiabank can help you increase the flexibility of your chequing account, while maybe even accumulating rewards simultaneously.


1. The Scotiabank Momentum Chequing Account - Apply Now
Get frequent earnings and flexible access to account funds with the Scotiabank Momentum Chequing account. Moving money from one account to another is simple and inexpensive with two free Interac e-transfers every month.  Moreover, those who want to be rewarded for spending will enjoy 1% cash back in the first year. New account holders will also appreciate the $100 that Scotia gives to those who applied online.

Your Benefits

Get 1% cash back on debit purchases
$100 bonus for opening an account online
Unlimited self-service transactions monthly
2 free withdrawals from non-Scotia ATMs per month
1 free teller transaction per month
$15.95 monthly fee, $11.95 for seniors



[button color="red" size="big" link="http://" target="blank" ]Apply Now[/button]


2. The Scotiabank One Chequing Account - Apply Now
Customers who keep a large balance in their chequing account will pay no monthly fee for being a Scotiabank One member, and have expansive access to their money with unlimited teller and self-serve transactions. For transferring money between accounts, account holders are also eligible to receive 2 free Interac e-transfers per month. Customers who do not maintain the $4,000minimum daily balance will be charged $13.95 per month.

Your Benefits

Unlimited teller and self-serve transactions
Pay no monthly fee if you keep a $4,000 balance or higher
Receive 2 free Interac e-transfers each month
$13.95 monthly fee, $9.95 for seniors

[button color="red" size="big" link="http://" target="blank" ]Apply Now[/button]
3. Scotiabank’s Basic Banking Plan - Apply Now
For modest banking needs, the Scotiabank Basic Banking Plan is a great solution. Customers that keep a daily minimum of $3,000 in their account pay no monthly fees, and otherwise pay just $10.95 per month. Seniors get a discount on this charge, as they do with most Scotia accounts. Account holders will also appreciate the relatively high degree of freedom they have with their money -  up to 25 transactions per month, applicable to teller or self-service terminals.

Your Benefits

25 self-serve or teller transactions monthly
Keep a $3,000 daily minimum balance and pay no monthly fees
Receive 2 free Interac e-transfers monthly
Monthly fee of $10.95 or just $6.95 for seniors

[button color="red" size="big" link="http://" target="blank" ]Apply Now[/button]
4. The Basic Banking Account by Scotia - Apply Now
The aptly named Basic Banking Account is Scotiabank’s best offer for beginners, and charges low monthly fees to match its value proposition. Account holders will pay just $3.95 each month to receive 12 monthly transactions – four of which can be with the assistance of a teller. Seniors pay no fees at all. Like the other chequing accounts in Scotia’s lineup, customers also benefit from 2 free e-transfers that enable them to quickly and inexpensively transfer funds from account to account.

Your Benefits

12 monthly transactions, including 4 transactions with a teller
Low $3.95 monthly fee, $0.00 for seniors
Two free Interac e-transfers every month
Great low-cost banking for beginners

[button color="red" size="big" link="http://" target="blank" ]Apply Now[/button]
Shop Around. It’s Worth It.
It might be comfortable to keep the same chequing account you’ve always used, but those who don’t shop around will miss out on the increased flexibility, greater rewards, and lower fees available. Scotiabank offers a full range of chequing accounts that suit any individual well, whether they are opening a new account or considering the switch from another bank.

]]>
marc@greedyrates.ca
Best Chequing and Savings Accounts at Scotiabank http://www.greedyrates.ca/blog/best-chequing-savings-accounts-scotiabank Mon, 24 Jul 2017 12:01:35 -0400
That said, we believe our readers can apply their bargain-hunting mindset to other aspects of their financial well-being, and we plan to expand our focus to include other opportunities where Canadians can save, starting with the chequing and savings accounts offered by various Canadian banks.

Too many of us perceive a bank as a place to merely put our money, rather than a place to watch it grow. Follow along as we show you which bank accounts offer the best deals to help your money work for you. First up, we will be looking at the various options you can find at Scotiabank.
Scotiabank Momentum Chequing Account
The Momentum Chequing Account is perfect for those looking to make money off their spending. For a monthly fee of $15.95 you receive 1% cash back on debit purchases ($300 yearly cap). Also included are unlimited self-serve transactions, 2 free monthly withdrawals from non-Scotiabank machines within Canada, 2 free Interac transactions each month, and 1 free teller transaction per month.
Scotia One Chequing Account
The Scotia One account is great if you love movies and require unlimited transactions per month. The monthly $13.95 fee covers an unlimited amount of both self-serve and teller transactions, includes 2 free Interac transfers per month, and allows you to collect SCENE points which can be redeemed for free movies at Cineplex. Even better—the monthly fee is waived entirely if your daily closing balance exceeds $4,000.
Basic Banking Plan
The Basic plan is perfect if your transaction needs are moderate. For $10.95 a month you are given 25 total transactions split between self-serve and teller. It also includes 2 free Interac transactions a month, and allows you to collect SCENE points. Also, if your daily balance stays above $3,000 they waive that annoying monthly fee.
Basic Banking Account
While many of us have switched over to no-fee online banking, it is always a good idea to keep an account open with one of the brick-and-mortar banks just in case you run into a situation where you need to talk to a banker face to face. That’s what this account is perfect for. For just $3.95 a month, 12 transactions are included (with up to 4 of them being teller transactions). It also has the standard 2 free Interac transactions and the option to collect SCENE points. This account is also FREE for seniors. Keep in mind though—if you exceed those 12 transactions you will be charged $1.25 per transaction.
Savings Accelerator Account
As the name implies, this tax-free savings account is great for those focused on increasing their savings. For no annual fee, it allows you to put away tax-free optional savings at a rate of 0.050 percent for $4,999 and under, 0.800 percent for savings of $5000 to $249,999, and 0.900 for $250,000 and up. It also includes unlimited no-fee self-serve transfers to your other Scotiabank accounts if and when you want to use those savings on a big purchase you’ve been saving up for. It is also eligible for CDIC Deposit Insurance. Keep in mind though, if you are moving that money to a non-Scotiabank account there will be a $5.00 fee per transaction.
Scotiabank Momentum Savings Account
If you have $5000 or more saved, this high-interest savings account allows you to generate quite a bit of money. While amounts below $5000 earn their standard 0.050 percent interest rate, if you exceed that amount without withdrawing anything for 90 days, the rate jumps up to 1.300 percent--and right now (until August 31st 2017) they have a special promotion that raises that rate to a crazy-high 2.15 percent. This account is free and is also eligible for CDIC Deposit Insurance.
Scotia Power Savings Account
The Power savings account interest rate is only a good deal if you know you will always have $5,000 or more in there every month, as it pays out a 0.100 percent interest rate if you do. Go under that amount by even one penny and you will not earn any interest on your balance. Like their other savings offerings, it is a free account that allows free transfers to other Scotiabank accounts, and is eligible for CDIC Deposit Insurance.
Money Master Savings Account
The Money Master savings account is best for those who are new to saving, and want to earn interest right away, even on a smaller amount. It gives 0.020 percent savings on any amount—but that means if you exceed $5,000 you are still only earning that 0.020 percent. It is also a free account, offering no-fee free self-serve transfers to your other Scotiabank accounts, along with the CDIC Deposit Insurance option. But beware, transfers to non-Scotia accounts will be charged a $5.00 fee.

If you liked this breakdown of the account offerings from Scotiabank, let us know so we can continue to bring you a more thorough understanding and comparison of the rest of the banking options in banks across Canada. There is money to be made in Canadian banks — you just have to know where to put it.]]>
marc@greedyrates.ca
The Scotiabank American Express Card Review http://www.greedyrates.ca/blog/the-scotiabank-american-express-card-review Mon, 17 Jul 2017 14:01:22 -0400 At a Glance

No annual fees for first year (until July 31st)
Earn 1 Scotia Rewards point for every $1 spent on all eligible purchases
Double Rewards earnings per $1 spent at participating businesses
Redeem points for travel arrangements without restrictions
Book trips with Scotia Rewards Travel Service
Feel secure when travelling with available travel insurance options

[button color="red" size="small" link="http://shareresults.com/t/url.php/cid/23274/sid/25021/affid/21932/acid/SBAmexreview" target="blank" ]Apply Now![/button]
Why We Like It

Save During First Year: New signees (by July 31st)with the Scotiabank American Express Card enjoy not paying an annual fee for the first year. Cardholders pay $39 per year after the first year elapses, a competitive price in the travel rewards ecosystem.


Double the Earnings: Customers can easily accumulate Scotia Rewards points by using their card for routine purchases. Cardholders will earn 1 Scotia Rewards point for every $1 spent on most purchases, or they can double their earnings when making purchases at participating gas stations, restaurants, movie theatres, and other establishments within the American Express network.


Redeem Without Restrictions: Cardholders can redeem their Scotia Rewards points with the help of travel agents in the Scotia Rewards Travel Service. Customers can book trips anywhere with no restrictions or blackout periods that accompany many competing cards. Furthermore, members can rest assure knowing they are receiving the best available price for whatever they purchase. The company’s best price guarantee gives cardholders the ability to earn back the difference in price if they find a cheaper alternative for the same itinerary within 24 hours, adding to the advantages of booking travel with the service.


Enjoy Special Offers: American Express Members receive special privileges whether traveling or shopping at home. The company will notify cardholders of special offers and experiences available, including table booking at fine dining establishments, theatre engagements, film screenings and more. In addition, Scotia Rewards invites customers to take advantage of exclusive offers such as discounts and amenities when travelling.


Added Protections on Purchases: The Scotiabank American Express Card includes an automatic 90-day purchase protection on eligible items against theft, loss or damage. An automatic extended warranty also doubles the manufacturer’s warranty term by up to an extra year. While most cards stop their purchase protections here, the Scotiabank American Express Card includes Price Protection, reimbursing customers up to $100 in the case of a drop in an item’s price within the first 60 days of purchase.


Stay Covered: The Scotiabank American Express Card insures travelers with a variety of protections, including insurance for medical emergencies, accidents, trip interruptions, and rental car damage. These protections extend to the cardholder’s spouse and dependents as well.

Is It Worth It?
Those individuals who want to quickly redeem points on travel and save money on insurance and purchase protections will find this card particularly useful. However, annual interest rates charged for balance transfers, purchases and cash advances are comparable to industry standard rates, indicating the availability of better options if a potential member is considering transferring a balance.
In Conclusion
The Scotiabank American Express Card is a flexible and rewarding travel card, giving customers the ability to double their earnings to 2 points per $1 spent at participating businesses. Points can be redeemed flexibly without travel restrictions, and on a variety of brand name merchandise.  Customers who travel frequently will enjoy extra purchase protections and travel insurance coverage included with the card.

[button color="red" size="small" link="http://shareresults.com/t/url.php/cid/23274/sid/25021/affid/21932/acid/SBAmexreview" ]Apply Now![/button]]]>
marc@greedyrates.ca
Best Credit Cards in Canada 2017 http://www.greedyrates.ca/blog/best-credit-cards-canada-2017 Tue, 11 Jul 2017 07:18:52 -0400
You can stick with the card you have in your wallet, but do so at your own risk. Some of the biggest deals out there are only offered to new cardholders. Why pay 19.9% interest when you can pay 0%? Why collect 2 miles per dollar spent when you can get 25,000 miles just for switching cards?

With hundreds of the best credit cards in Canada reviewed, dissected, analyzed, and put to the test, this is a great starting point in your hunt for the best credit card deals and offers in the country.
GreedyRates' Best Credit Cards in Canada
Best Credit Card Offer For July 2017
Scotiabank Gold American Express Card

This card doesn't get nearly the credit it deserves. But with it's limited time offer until July 31, 2017, which waives the first year annual fee, and gives a $300 travel credit, it's almost too good to pass up, especially when there's no cost to give it a try.

Here's what makes the card so special for the long run. You can get a 4% earn rate on gas, grocery, dining and entertainment spend, 1% everywhere else.

What makes this card so flexible is that you can then apply your travel rewards against any travel expenses on your credit card statement. Accumulate $200 worth of points, and simply apply them against your $300 hotel charge on your credit card statement.

There's no grid, chart, black-outs, travel centre, or availability issues. Book how and where you want, and simply redeem the dollar value of your points against any travel charge.

With no annual fee in the first year, there's zero risk to getting the card and a free $300 incentive. That's free money. Why wouldn't you get it?
Click Here To Apply For The Scotiabank Gold American Express Card
Best Credit Card For People Looking For CashBack
MBNA Rewards World Elite

The MBNA Rewards World Elite is not only the best cashback credit card in Canada, it's also the best rewards card. It offers 2 points per $1 dollar spent, with each point worth 1 cent. As a result, you earn $2 for every $100 spent on your credit card, or 2% on ALL purchases with no limits, caps or tiers.

But this card sets itself apart with its flexibility and transparency. Spend $10,000, get $200 cash back. At any time, you can then request that the cash back be credited to your account as a statement credit or you can even request MBNA deposit the $200 into any Canadian checking account!

Many cash back credit cards only offer cash back as a statement credit at the end of each year. So if you wanted to use your cash back earlier you'd be out of luck. That's why MBNA's redemption policy is so refreshing - it's user friendly - a novel concept for many credit card issuers.

The MBNA Rewards World Elite MasterCard comes with a $100 welcome bonus, which off-sets the $89 annual fee in the first year. Essentially, you're getting to try a premium credit card, with premium rewards, on the house, for a full year.
Click Here To Apply For The MBNA Rewards World Elite MasterCard
Best Credit Card For People Looking For Free Travel
American Express Gold Rewards Card

This card is phenomenal if you're looking for a rich sign-up bonus,  redemption flexibility, insurance and a great rewards rate.

The card comes with a great welcome bonus. First, the annual fee of $150 is waived for the first year. Second it comes with a 25,000 point welcome bonus. The annual fee waiver makes the 25,000 point bonus completely free. The great thing about the welcome bonus is that you can either use it as a $250 credit against any travel expense on your credit card statement. Or, you can convert it to Aeroplan miles 1:1 at no extra cost, meaning it effectively becomes a 25,000 bonus Aeroplan miles!

The Amex Gold Rewrds card also happens to be a great rewards earner, but more than that, the highest earning Aeroplan credit card in the country. You get 2 points per dollar spent in grocery, gas, pharmacy and all travel purchases and 1 point everywhere else. Remember, if you convert your points to Aeroplan that's 2 Aeroplan miles in gas, grocery, pharmacy and all travel! The best any other Aeroplan credit card does is offer 1.5 miles per dollar spent!

With no annual fee in the first year, and 25,000 points that can be converted into a $250 travel credit or 25,000 Aeroplan miles, you can redeem for a free return flight to anywhere in North America from any Canadian city!
Click Here To Apply For The American Express Gold Rewards Card
Best Credit Card For People With Credit Card Debt
MBNA Platinum Plus MasterCard

If you have credit card debt and you're paying interest, there's hope. The truth is, if your credit is fine, you can avoid paying any interest. That's right, you can pay 0% interest for an entire year. It's cheaper than a home equity line of credit or a personal lone.

The MBNA Platinum Plus MasterCard comes with no annual fee and offers a 0% interest rate for 12 months. The only cost is a 1% balance transfer fee.

The potential savings with this card are huge. If you owe $5,500 in credit card debt at an interest rate of 19.9% you'd save over $965 in interest costs in one year alone!!! All your monthly payments will go towards paying down your debt, not interest. It's also a great way to consolidate all of your credit card and store card debts, so that you end-up with one simple payment per month.
Click Here To Apply For The MBNA Platinum Plus MasterCard
Best Credit Card For Insurance Coverage
The BMO® World Elite™ Mastercard®

The benefits of credit card membership are not limited to merchandise rewards or airfare; another advantage offered by select cards is protection during life’s unexpected and unfortunate incidents. The BMO World Elite Mastercard is ideal for those who value these perks, as the card comes with a broad variety of travel insurance features that keep cardholders safe while they are away from home.

The BMO World Elite card includes one of the most sought after travel features for Canadians: out-of-province emergency medical insurance. Those who experience a medical emergency during their travels have $2 million-worth of coverage at their disposal designed to defray hospital and other care costs.

But medical emergencies are just one of many complications that may arise during travel, and this Mastercard extends its protective advantages to other areas of necessity. Members will enjoy insurance for rental cars, trip cancellation, trip interruption, flight delay, and baggage. The card also comes with a wealth of additional trip assistance services including emergency cash advance, lost document replacement and more. Coverage is unlimited, meaning that each of these features applies to every trip, no matter how frequent.

For an extra fee, cardholders can access balance protection as well, an insurance feature which guarantees that their balance is paid in the event of disability, job loss, loss of life or limb, and critical or terminal illness. Considering that cardmembers are also exempt from the first year’s annual fee (limited time offer), receive a welcome bonus of 20,000 points, earn rewards at a lucrative 2% rate, and gain VIP access to airport lounges, the BMO World Elite has set the bar very high for travel cards.
Click Here To Apply For The BMO® World Elite™Mastercard®
Best Credit Card If You're A Student
BMO SPC MasterCard

Getting you're first credit card when you're a student should be a simple task. You want a card that offers easy approval, does not require income or proof of income and offers great rewards!


Unfortunately, not all Canadian student credit cards fit the bill. In fact, some require that you hold a part-time job and show proof of income. Not exactly friendly to the full-time student. Others require you pay an annual fee, which makes no sense.

That's why we love the BMO SPC Student MasterCard. It comes with no annual fee, no income required, and has 2 amazing rewards programs built into one card. First, you get automatic membership into the SPC Card student program - a savings of $10 on the membership fee each and every year you're in school. Second, you get 10-15% discounts at hundreds of retailers across Cananda through SPC.

Lastly, you can either get the cash back or Air Miles no fee student credit card. The BMO SPC Cash back card offers a welcome bonus of $60 and 1% cash back on all purchases, and the no fee Air Miles card comes with a 500 Air Miles welcome bonus!
Click Here To Apply For The BMO SPC MasterCard
Best Credit Card For Family Travel
WestJet RBC World Elite MasterCard

If you're looking for a credit card that can help lighten the cost of travelling with your spouse and kids, there's no better card than the WestJet RBC World Elite MasterCard.

To start, the WestJet World Elite MasterCard comes with a $250 WestJet Dollar sign-up bonus travel credit, in addition to an annual companion voucher. Both the bonus and voucher can be used on the same itinerary. For example, you can use the $250 on your ticket, and for the same trip buy your spouses ticket (plus taxes and fees) for $99 to any destination in North America.

But what also makes this card really stand-out, is that it offers first checked bag free for the primary cardholder and up to 8 travelling companions! With checked baggage now costing up to $30 each way, for a family of 4 that could be equal to a savings of $240 return per trip! Not only that, you get your first checked bag free whether it's a rewards flight or not.

Lastly, the WestJet World Elite MasterCard offers solid protection, with Travel Medical Insurance for you and the entire family while your out of country or out of province. In fact, you don't even have to fly to get covered, you can drive down to the U.S. and your families still protected.

For more travel categories, visit our Best Travel Credit Card Rankings in Canada page.]]>
marc@greedyrates.ca
Which Credit Cards Are Still Amazing After the 1-Year Promotions End? http://www.greedyrates.ca/blog/credit-cards-still-amazing-1-year-promotions-end Mon, 03 Jul 2017 15:56:08 -0400 One year is a common cutoff point for good deals, and after that, many cardholders are hit with major fees, disappearing benefits, and policy changes that amount to big losses at the end of the day. So which credit cards are still worth holding onto after their initial buzz wears off?
Travel Category: Chase Marriott Rewards Premier Visa Card
The Chase Marriott Rewards Premier Visa card is possibly the best travel credit card a Canadian can own. That’s because this card doesn’t believe in one-night stands; it’s in it for the long haul. Even after the initial benefits run out, cardholders still  enjoy loads of perks including:

A yearly anniversary bonus of a free night’s hotel stay for all cardholders
Absolutely no Foreign Currency Transaction Charges on international purchases. This is a big perk for travelers because foreign transaction fees can amount to gargantuan expenses by the end of a vacation abroad.
Additionally, reward points are constantly accumulating after the first year, so cardholders can cash in on some great rewards as they reach new tiers in the points scheme

This Visa Card has a $120 annual fee that’s a bit higher than other cards, but there’s no annual fee for additional cards, making it more attractive for couples, businesses, or anyone who intends to share the account with someone else.
Click here to apply for the Chase Marriot Rewards Premier Visa Card
Cash Back Category: New SimplyCash Preferred American Express Card
American Express has a lot of great cards, and their SimplyCash Preferred card has been voted the best cash back credit card available. That's because of fabulous details like: 

Their 2% cash back on *everything* policy. That means ALL purchases made using the SimplyCash card automatically earn Canadian cardholders 2% back. In addition to this being a generous amount for cash back rewards, the blanket inclusion of all purchases makes this card stand a head above the rest.
No limit to the amount of cash back earned. Too many cards have a cap on how much cash back you can earn, which hardly seems fair. After all, they aren’t capping how much you can spend! The SimplyCash Preferred card gets that and gives you unlimited cash back rewards, which is possibly its most attractive feature. It’s free money each and every time you shop.

Click here to apply for the AmEx NEW SimplyCash Preferred Card
Balance Transfer Category: MBNA Platinum Plus MasterCard
When a credit card interest rate or balance gets too high, many opt to transfer the entire balance to another, lower interest rate card. The trick here is to find one that won’t charge you an arm and a leg for the transaction of transferring the debt. The MBNA Platinum Plus MasterCard is a perfect candidate for this transfer, and here’s why:

This is the only card with a 0% interest rate on balance transfers (for the first year). Even generous cards will charge a small percentage for transferring the balance, which is what makes a 0% offer so unusual and appealing. It essentially means that 100% of your payments go toward paying off your debt rather than cutting off a chunk to pay the interest tagged on. That can amount to quite a bit of savings over the first year.
The same attractive 0% rate applies to cash advances that can be deposited directly into your checking account.
Absolutely no annual fee ever. That means you permanently enjoy a perk that most credit cards reserve as a first-year signup bonus.
You’ll also retain all the Platinum benefits such as auto insurance, carrier accident insurance, and more.

Click here to apply for the MBNA Platinum Plus Mastercard

No Annual Fee Category: Tangerine Money-Back
Another great card for annual fee-phobics is the Tangerine Money-Back card. This card also boasts the impressive and almost unheard of no annual fee benefit, and has other perks like:

2% cash back on three categories that you can choose and change at will
Like the SimplyCash card, Tangerine offers unlimited cash back

Click here to apply for the Tangerine Money-Back Card

Low Interest Category: American Express Essential Credit Card
The American Express Essential card really is that: essential. After all, look at the value: 

8.99% fixed interest rate
8.99% cash advance interest rate (very low compared to competitors!)
No annual fee


Click here to apply for the American Express Essential Credit Card
These cards are the ones that keep giving even after the initial sizzle wears off. So, invest in the right credit cards and reap the rewards.

For all the best cards that offer fantastic signup bonuses, we suggest you visit our Best Credit Cards in Canada page.]]>
marc@greedyrates.ca
Best Travel Credit Card Rankings in Canada For 2017 http://www.greedyrates.ca/blog/best-travel-credit-card-canada Sun, 02 Jul 2017 00:03:58 -0400
To help us derive our rankings for the best travel credit card, we first measured the value per point of each rewards program. We checked how many points were required to fly on 15 different flights for each credit card and compared it to the lowest price of each flight, giving us the true cost per point of each rewards program. We did a similar exercise for hotels.

We then evaluated earn rates, credit card bonuses, annual fees, perks, insurance coverage, foreign transaction fees, ease of redemption, and travel opportunities to determine the best travel credit card in Canada for each travel card category.

Here's the summary of the top ranked travel credit cards in Canada (full credit card reviews are below). Visit our Best Credit Cards in Canada page for more categories besides travel.
Best Travel Credit Card Rankings for Canada 2017

Best Flexible Travel Credit Card Winner:

Winner: The American Express® Gold Rewards Card
Runner-Up: RBC Visa Infinite Avion


Best Airline Travel Credit Card Winner:

Winner: WestJet RBC World Elite Mastercard
Runner-Up: TD® Aeroplan® Visa Infinite* Card




Best "Book Anything, Anytime, Anywhere" Travel Credit Card Winner:

Winner: The BMO® World Elite™Mastercard®
Runner-Up: MBNA Rewards World Elite®




Best Foreign Transaction Travel Credit Card Winner: 

Winner: Rogers™ Platinum Mastercard®
Runner-Up: The Marriott Rewards® Premier Visa® Credit Card From Chase




Best Insurance Travel Credit Card Winner:

Winner: Desjardins Visa Odyssey Gold
Runner-Up: National Bank World Elite MasterCard


Best Hotel Travel Credit Card Winner: 

Winner: Marriott Rewards® Premier Visa® Card
Runner-Up: Starwood Preferred Guest Card



A description of each travel card category and a full review of each of the top ranked Canadian travel credit cards are as follows:
Best Flexible Travel Credit Card In Canada:
The American Express® Gold Rewards Card
[caption id="attachment_303" align="alignright" width="125"] Click Here to Apply[/caption]

A flexible travel credit card allows you to make any travel related purchase on your card, then call or go online to pay for it with your points, allowing you to benefit from the best deals or options you can find. Some even allow you to convert your points into an alternative frequent flyer program.




Why It's a Winner: The American Express Gold Rewards card is special because of its phenomenal rewards value and its unparalleled flexibility.  Earn a welcome bonus of 25,000 Membership Rewards points (redeem for $250 against any travel or transfer to Aeroplan 1:1 for 25,000 Aeroplan miles) and get the first year annual fee waived - a value of $150 - making the card virtually free to try for a year and the welcome bonus free as well.
Ongoing value is strong. Earn double points on gas, grocery, drugstore all travel related expenses (air, water, rail and road transport, lodging and tour operator sales). Each Amex point is worth 1 cent. As a result, the base rewards rate is worth 1% and the bonus rewards rate is worth 2%. If you transfer your points to Aeroplan, the base rewards rate is worth 1.28% and 2.56% on bonus categories, which is stellar. The insurance package is phenomenal.
What makes this card the gold standard of flexibility in Canada however, is that you can book any travel related purchase (flight, cruise, train, hotel, or rental car) on the card, and then use your points to pay ANY of the travel expenses that show up on your statement, including taxes fees. You can ALSO choose to transfer your Membership Rewards points to Aeroplan or British Airways AVIOS points 1:1 with no additional charges - secretly making this the most valuable Aeroplan card on the market. Pair this card with the TD Aeroplan Visa Infinite card below and you'll have 50,000 bonus points to start - without even paying an annual fee!
The Amex Gold Rewards card beats RBC's Visa Infinite Avion card for four reasons. First, it has a higher sign-up bonus. Second, Amex waives the first year annual fee. Third, you can earn double points on travel expenses (in addition to gas groceries). Fourth, Amex allows you to redeem for any travel expense on your statement at full value, while if you redeem with RBC's Payback with Points feature, you'll get closer to half a penny per point.
In the end, Amex gives the cardholder additional flexibility to take advantage of promotions and cost saving opportunities in both the Aeroplan and Avios programs, without sacrificing any value if you decide to redeem for any travel purchase.




Runner Up: RBC Visa Infinite Avion Card








Best Airline Travel Credit Card In Canada:
The WestJet RBC World Elite Mastercard
[caption id="attachment_303" align="alignright" width="125"] Click Here to Apply[/caption]

An airline travel card puts miles directly into your airline frequent flyer account. Airline credit cards have their perks – waived bag fees, lounge access, priority boarding check-in, and so on – while a more general travel credit card might offer higher earning potential and greater flexibility.





Why It's a Winner: RBC and WestJet teamed up to provide frequent travelers with a powerful system for earning WestJet dollars thanks to the World Elite Mastercard. Apart from the accompanying WestJet dollars, some valuable benefits and protective features help to solidify this option as Canada’s top airline rewards card. New cardholders will appreciate RBC’s generous gift of 250 WestJet dollars - an introductory bonus that represents a sizeable discount on an upcoming flight, or head start when planning their next vacation.
While the bonus is appealing, the consistent advantages that members will enjoy are just as valuable. Each year, customers receive one free companion voucher that allows them to purchase a seat for their friend or relative on the same itinerary, but at a significantly lower price. Within Canada or the United States, this round-trip companion flight costs just $99 when using the voucher. Those traveling to Hawaii, Mexico, the Caribbean or Central America will pay $299, and for trips to Europe the price increases to $399. To sweeten the deal, the cardholder and up to 8 companions can check their bags for free. Applicable to all WestJet’s international and domestic locations, the voucher plus baggage benefits alone save hundreds every year for cardholders who frequently travel.
Additionally, cardholders will earn WestJet dollars quickly and reliably when purchasing with the RBC World Elite Mastercard. On all expenses, points accrue at a rate of 1.5%, ensuring that members do not have to discriminate when it comes to shopping. For travel-related purchases through WestJet, the card accrues WestJet dollars at a 2% rate, and cardholders get 5% of their rewards back when redeeming them for airfare. To cap it all off, RBC protects members with an impressively broad set of insurance features, including trip interruption, travel medical, auto rental collision, purchase security and extended warranties as well. While it may cost $99 per year and requires an applicant to have good credit and personal income above $70,000, these hoops are worth jumping through. There are few credit cards available today that apply such a variety of benefits directly to travelers, and even fewer that save money so efficiently.


Runner Up: TD® Aeroplan® Visa Infinite Card






Best "Book Anything, Anytime, Anywhere" Travel Credit Card In Canada:
The BMO® World Elite™Mastercard®
[caption id="attachment_5087" align="alignright" width="125"] Click Here To Apply[/caption]

A "Book Anything, Anytime, Anywhere" travel credit card allows you to redeem for any travel related expense on your credit card. You purchase travel on your card from any travel provider (airline, hotel, cruise, resort, theme park, car rental, etc...) then call or go online to redeem your points for the travel purchase.






Why It's a Winner: The BMO World Elite Mastercard offers cardholders unparalleled scope in how they can take advantage of the rewards they have earned. Additionally, for a limited time, BMO provides new applicants with a voucher that rebates the first annual fee of $150. These instant savings will help members to reduce their expenses even more in their first year, and make this World Elite card a contender for best travel card in Canada.
For a single initial purchase, cardholders will receive a bonus of 20,000 rewards points. This sum carries a value equivalent to $200, which they can immediately use to discount an upcoming hotel, rental car, flight or other travel expense. Saving points for the future is also a good idea, as they do not expire and can be spent at members’ leisure via the BMO online travel center. One can find a seat on any airline and to any destination, with no blackout dates or other limitations, and even redeem points for taxes and fees – a unique benefit that many travel cards do not have.
Customers also have the freedom to shop around for the best price, as BMO will price-match any travel purchase that is found to be cheaper elsewhere. Finally, if one does not have enough points to purchase the reward they want most, they can use whatever they have and simply pay the difference with their World Elite card – with no penalties.
During their travels and daily life, cardholders will earn rewards at a steady 2% rate on all their purchases. Additional benefits, like a priority pass to airport lounges worldwide and four extra guest passes for one’s companions, bring added value to the card. This alone is worth hundreds and allows the cardholder and their friends or family the opportunity to travel in luxury.

They will travel safely as well, given the impressive range of insurance features that come with the BMO World Elite Mastercard. Included are insurance for out-of-province travel medical, trip cancellation and interruption, trip delay, flight delay, car rental collision and loss, baggage, purchase security and extended warranties on new items. Overall, even considering that one will continue to pay their annual fee the second year, the benefits brought by the BMO World Elite card are more than worthwhile.












Runner Up: MBNA Rewards World Elite® 






Best Foreign Transaction Travel Credit Card In Canada:
Rogers™ Platinum Mastercard® 
[caption id="attachment_4387" align="alignright" width="125"] Click Here To Apply[/caption]
Most banks charge a foreign transaction fee of 2.5% on top of the near spot market currency conversion rate charged by Visa or Mastercard. A foreign transaction card charges no fees above the conversion rate, or provides extra rewards to subsidize the rate, meaning you're getting pretty close to the spot rate when using the card to make a purchase in a foreign currency!







Why It's a Winner: While not a travel card per se, the Rogers Platinum Mastercard is one of only 3 credit cards in Canada that subsidize foreign transaction fees. It won the category because it offers 4% cashback on ALL foreign purchases, comes with no annual fee, a 1.75% rewards rate on all other spend you can redeem against any expense - not just Rogers.Although Rogers subsidizes foreign transactions a little differently, it remains the best way to make purchases in a foreign currency. Most credit cards offer 2% or less rewards per dollar spent and charge 2.5% in foreign transaction fees, for a net loss of .5%. Others offer 1% cashback and no foreign transaction fees, for a net gain of 1%. Rogers offers 4% cashback on foreign purchases, with a 2.5% foreign transaction fee, for a net cashback gain of 1.5% - the highest of all. You're making money on each dollar you spend in a foreign currency!
You can redeem your cash rewards as a statement credit once per year, for any balance owing on your credit card, including travel expenses. Alternatively, you can redeem your cash back any time for Rogers, FIDO, or Chatr services or products.
Rogers offers a $25 welcome bonus in cash back rewards when you make your first purchase within 90 days of receiving your card, no annual fee in the first year (savings of $29), and no annual fee ever if you set up your Rogers bill as a pre-authorized payment. This card does not have a very strong travel insurance package. It's best to use abroad or for foreign internet purchases, but not to book your flight, if you want trip cancellation coverage.
The Rogers Platinum Mastercard beats out the Marriott Rewards Visa card for three reasons. First, Rogers comes with a higher net rewards rate on foreign transaction of 1.5% versus 1% for the Marriott card. Second, it comes with a richer rewards rate of 1.75% on all spend, compared to about 1% for Marriott. Third, you can redeem your points as cashback against any expense, including travel, not just Marriott hotels - making it more flexible.














Runner Up: Marriott Rewards® Premier Visa® Card







Best Insurance Travel Credit Card In Canada:
Desjardins Visa Odyssey Gold
[caption id="" align="alignright" width="128"] Click Here To Apply[/caption]

Whether you're a snowbird, jaunt across the border, or go away for the annual family holiday, you can save big money and protect yourself and your savings with free travel insurance included on your credit card. It's convenient, free, and exceptionally valuable.






Why It's a Winner: The Desjardins Visa Odyssey Gold is available to every Canadian. Its inclusive credit card travel insurance is a tour de force that stands head and shoulders above the competition.
First, its travel medical insurance covers you and your family for 60 consecutive days, while out of province or country. Most other travel cards cover you for 15-25 days. Second, it offers travel medical coverage up to the age of 75 ( 60 days for ages up to 59, 31 days for ages between 60-64, and 15 days for ages 65-75)! Third, it covers you for up to $5 million in claims, most cover you between $1M to $2M.
Lastly, while the Odyssey covers you for trip cancellation up to $2,500 per person, if you have an unexpected return home it offers unlimited trip interruption insurance!
Desjardins' Odyssey Gold comes with every major travel insurance coverage you'll need, including out-of-province / out-of-country travel medical insurance, trip cancellation, trip interruption, trip delay, baggage, car rental, travel accident, purchase protection, extended warranty mobile device insurance.
Unfortunately, it comes with a $110 annual fee (pretty reasonable given the coverage), and only gets you a 1% earn rate on your spend. A great card for the coverage itself, but we'd probably recommend using another card to accumulate your rewards.
The Desjardins Odyssey Gold Visa card beats National Bank's World Elite travel card for a few reasons. It offers more coverage to older ages. It offers unlimited trip interruption coverage and it has mobile device insurance, which National Bank does not.














Runner Up: National Bank World Elite MasterCard







Best Hotel Travel Credit Card In Canada:
Marriott Rewards® Premier Visa® Card
[caption id="attachment_1049" align="alignright" width="125"] Click Here to Apply[/caption]
Hotel travel cards put your points directly into your frequent guest program accounts. Cardholders will discover benefits that both cut your travel costs and add another dimension of luxury and convenience to your hotel experience. 







Why It's a Winner: Earn 30,000 bonus points with your first purchase! That's up to 4 free nights, with no minimum spend requirements - and it comes with no annual fee in the first year. Plus, get an additional free nights stay on your account anniversary date EVERY year at a category 1-5 hotel! To top it off, it doesn't charge any foreign transactions fees on purchases outside of Canada. That's a savings of 2.5% on non-Canadian purchases alone.
Not to be overlooked, Marriott Rewards ranks highest among hotel loyalty/rewards programs as ranked by J.D. Powers. Also Marriott Hotel's has recently acquired Delta Hotels Starwood. Their hotels can now be found worldwide with a brand for every price point - Delta, Sheraton, W, AC Hotels by Marriott, Autograph Collection Hotels, Courtyard, Edition, Fairfield Inn, Gaylord Hotels, JW Marriott, Marriott Executive Apartments, Marriott Hotels Resorts, Marriott Vacation Club, Renaissance Hotels, Residence Inn, SpringHill Suites, The Ritz-Carlton and TownePlace Suites.
Marriott has indicated it has no plans to merge the Marriott and SPG credit card programs until at least 2018. However, members can now link their loyalty accounts and transfer points between each program freely. We think that's a great opportunity for Canadians to get both credit cards and merge the bonus points from each. You could end up with 90,000 Marriott Rewards or 30,000 SPG Starpoints by doing so!

Runner Up: Starwood Preferred Guest Card From American Express







Summary of Best Travel Credit Card Rankings in Canada




Welcome Bonus
Annual Fee
Min Income


American Express Gold Rewards
25,000
1st Yr Free, $150 thereafter
$20K


WestJet RBC World Elite Mastercard
$250 WestJet dollars
$99
$70K


BMO World Elite Mastercard
20,000
1st Yr Free, $150 thereafter
$80K


Marriott Rewards Visa
30,000
1st Yr Free, $120 thereafter
$30K


Rogers Platinum MasterCard
$25
$0
$15K


Desjardins Visa Odyssey Gold
$0
$110
$15K



Last Leg of The Journey
The best travel credit card for you will depend on your travel needs and spending habits. You'll get the most from your card if you start-off with a great bonus offer, like the rewards program offered by the card, pay your balance in full each month, and consider which fees can best be balanced with bonuses, perks, and rewards.

Canadians are in a great position to try new travel cards that earn them more points, provide more benefits and better flexibility than the card in their wallet today. Take advantage and get more bang for your buck starting now.]]>
marc@greedyrates.ca
Comparing Aeroplan Credit Cards - TD, CIBC, American Express - Which is Best? http://www.greedyrates.ca/blog/aeroplan-credit-card-comparison-2014 Sun, 02 Jul 2017 00:01:11 -0400
Below is a quick comparison of the sign-up bonus, annual fee, point accumulation and insurance coverages offered by each Aeroplan credit card currently in the market. Although not officially an Aeroplan credit card, we included the Amex Gold rewards card because you're able to transfer its Amex points 1:1 to Aeroplan, giving cardholders significant flexiblity to book through Aeroplan or Amex at their option.



Aeroplan Credit card
American Express Gold Rewards
(Hybrid)
American Express Aeroplan Plus
CIBC Aero
Platinum
CIBC Aerogold Infinite
TD Aeroplan Visa Infinite
American Express AeroplanPlus Gold
TD Aeroplan Visa Platinum
TD Aeroplan Visa Infinite Privilege
American Express AeroplanPlus Platinum


Annual Fee
$0 1st Yr   $150 After
$60
$39
$120
$120
$120
$89
$399
$499


Supplementary Card
$0
$20
$50
$50
$50
$0
$35
$99
$99-$199


Signing Bonus Points
25,000
5,000
5,000
15,000
15,000
15,000
10,000
25,000
40,000


Basic Rewards
1 pt : $1
1 pt : $1
1 pt : $1.5
1 pt : $1
1 pt : $1
1 pt : $1
.66 pt : $1
1.25 pt : $1
1.25 pt : $1


Accelerated Rewards
2 pt : $1 (gas, grocery, drugstore travel)
1 pt : $1
1 pt : $1.5
1.5 pt : $1 (gas, grocery, drugstore)
1.5 pt : $1 (gas, grocery, drugstore Air Canada)
1.25 pt : $1 on spend > $10K
1 pt : $1 (gas, grocery, drugstore)
1.5 pt : $1 (gas, grocery, drugstore)
1.5 pt : $1 on spend > $25K


Insurance
Auto Rental, Travel Accident, Flight Delay, Baggage, Trip Interruption, Out of Province Travel Medical, Hotel/Motel Burglary
Travel Accident
Auto Rental,
Travel Accident
Auto Rental, Travel Accident, Flight Delay, Baggage, Trip Interruption, Out of Province Travel Medical
Auto Rental,
Travel Accident,
Flight Delay,
Baggage,
Trip Interruption
Out of Province Travel Medical
Trip Cancellation



Auto Rental, Travel Accident, Flight Delay, Baggage, Hotel/Motel Burglary
Auto Rental
Auto Rental, Trip Cancellation, Travel Accident,
Flight Delay,
Trip Interruption,
Out of Province Travel Medical

Auto Rental, Trip Cancellation, Travel Accident, Flight Delay, Baggage, Trip Interruption, Out of Province Travel Medical, Hotel Motel Burglary



 Apply Now
 Apply Now
 Apply Now
Apply Now
 Apply Now
 Apply Now
 Apply Now
 Apply Now
 Apply Now



What the above chart clearly shows, is that the Amex Gold Rewards card (transfer Amex points to Aeroplan 1:1 for free) has the heftiest up-front bonus of 25,000 Aeroplan points among the infinite cards, and is the only one to offer an attractive first year annual fee waiver.

TD's current Aeroplan Infinite Privilege offer gives you 25,000 Aeroplan miles as well, but the annual fee of $399 can be a little off-putting. Nevertheless, if you're looking for first-class treatment at luxury hotels and royal airport lounges (just read about their Visa Infinite Privilege Benefits here) - this card is definitely worth the seed money.

We think the combination of a high welcome bonus with no minimum spend requirement and no cost in the first year (at least with the Amex Gold Rewards in the mix) make great opportunities to jump start your Aeroplan miles at virtually no cost. You're getting a round-trip, coach class ticket to anywhere within North America for free. That's a great opportunity. Get both cards and you have two free tickets.

The American Express Gold Rewards card is the richest Aeroplan credit card in Canada. Here's why: Because the American Express Gold Rewards card allows users to transfer its points 1:1 to Aeroplan miles, it effectively offers 2 Aeroplan miles per $1 spent on gas, groceries, drugstore and travel, and 1 point per $1 spent everywhere else. CIBC only offers 1.5 points on gas, groceries and drugstore, which is 25% less than the Gold Rewards earn rate, and they only offer 1 point per $1 spent on travel (TD offers 1.5 points on online Air Canada bookings). The Gold Rewards card gives 2 points per $1 spent on all travel expenses (flights, hotels, cruises, car rental, taxis, etc...), which not only makes it a great travel redemption card, but also a great travel earn card!

The TD Aeroplan Visa Infinite and Amex Gold Rewards cards also offer the highest welcome bonuses of 25,000 points to start, while the CIBC card only offers 15,000 points currently. The Amex Gold Rewards card also waives the first year annual fee, a value of $150, making it virtually risk free to try-out. It also makes the 25,000 point sign-up bonus free. CIBC is now charging the first year annual fee, although they have been making annual fee waiver offers to select applicants. Lastly, with an insurance package that is as good or better than the competition, we think the Amex Gold Rewards Card has the best value among any Aeroplan credit cards currently being offered in Canada.

Aside from the economic value of the Gold Rewards card, what really distinguishes it from the other Aeroplan cards, is that if you can't find the flight you're looking for with Air Canada, you can transfer your Amex points to Avios 1:1, or use them as Amex points for ANY travel expense, making it the most flexible option among the Aeroplan credit cards. CIBC used to allow cardholders to transfer points from Aventura to Aeroplan, but has discontinued that point exchange program unfortunately. We love the flexibility, and with Aeroplan's black-out dates, we think it's a very valuable one.

There are several nice value added features on the TD Aeroplan cards as well: free checked bag, priority check-in, priority boarding and 1 free Maple Lounge pass per year on Aeroplan flights operated by Air Canada. Plus, up to 35% fewer miles needed for Market Fare Flight Rewards as an Aeroplan Distinction member. Also, get faster access to Distinction status, Aeroplan’s recognition program that offers a range of Distinction benefits such as exclusive flight rewards, bonus mile offers and privileges.
Summary of Best Aeroplan Credit Card Offers in Canada



Aeroplan Credit Card
Welcome Bonus
Annual Fee
Min Income


American Express Gold Rewards
25,000 miles
1st year free, $150 thereafter
$0


American Express AeroplanPlus Gold
15,000 miles
$120
$0


CIBC Aerogold Infinite
15,000 miles
$120
$60K


TD Aeroplan Visa Infinite
15,000 miles
$120
$60K


American Express Aeroplan Platinum
50,000 miles
$499
$0


TD Aeroplan Privilege
25,000 miles
$399
$200K



All in all, we think the American Express Gold Rewards Card is the best Aeroplan credit card offer in Canada right now. It comes with a 25,000 mile sign-up bonus and no annual fee in the first year. Given the no annual fee promo, we recommend giving the Amex card a try, and jump starting your Aeroplan Miles with 25,000 points - enough for a round-trip ticket to anywhere in North America!

Brought to you by GreedyRates.ca





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marc@greedyrates.ca
How to Celebrate Canada’s 150th Birthday And Spend Wisely With Your Credit Card http://www.greedyrates.ca/blog/celebrate-canadas-150th-birthday-using-credit-cards Thu, 29 Jun 2017 16:25:23 -0400


There are many ways to proudly celebrate the sesquicentennial, but here are some of our favourite ideas to get you in the spirit of the occasion.
Attend the biggest party in Canada’s capital
If you’re serious about celebrating Canada’s birthday, you are probably already planning on heading to Ottawa for the party that has likely taken the biggest chunk out of that $500 million budget. Not only will our Prime Minister Justin Trudeau be on hand alongside many notable Canadian artists and musicians, such as Gordon Lightfoot, Alessia Cara, Mother Mother and Serena Ryder, but Canada’s own… err, rather, Ireland’s own Bono and The Edge of U2 fame will be stopping by to perform a song. We’re still not quite sure how U2 fits into the birth of Canada, but if you’re a fan, it’s an opportunity to see the Irish legends for free—even if it is just for one song. The largest ever “pyromusical” fireworks display to happen in the city will cap off the evening. We’re confident that attending this mega-event will be well worth whatever you spend in the process, but in the interest of saving as much as you can wherever you can, use your SimplyCash Preferred Card from American Express. It’s one of the best credit cards in Canada, offering an incredible 5% cash back on all purchases for the first 6 months. That includes the travel fare to Ottawa and throwing back some beers with Bono and The Edge after the show.
Participate in the Red Couch Tour
In one of the stranger ways to celebrate, a red couch will be travelling 21,000 miles across Canada, where Canadians are invited to tell their stories of what being Canadian means to them. Making 42 stops across Canada all summer long, you can stay home and still participate in this one.
Bring Canadian culture to the rest of the world
Some of you might be on holiday on the 1st of July, or living abroad exploring somewhere new. While this could lead to feelings of being left out of all the excitement, it actually provides you with the perfect opportunity to educate your foreign friends about all the great things Canada has to offer. Throw a little bash introducing them to everything they don’t know about Canada. Forgo the clichés—no beavers or poutine or Justin Bieber—stick to the things they don’t know about. Introduce them to the music of the Tragically Hip, throw on a few episodes of Kids in the Hall and discuss the considerable perks of free, reliable healthcare. The FIDO MasterCard Credit Card has Canadian travelers’ backs, giving cardholders 4% cash back on all foreign purchases.
See the $200,000 rubber duck making headlines
While some have expressed outrage at the money spent to bring a massive duck on a tour across Canada, you can bet the rest of us are going to be taking selfies with this giant piece of floating plastic. It is not particularly Canadian, but this one of a kind photo op is going to attract Canadians and tourists alike. Complain all you want, but don’t forget to take a selfie.
Head to Toronto
While Ottawa might have U2, Toronto has Toronto. Head to Canada’s largest city for a non-stop party all weekend long at Nathan Phillips Square featuring Buffy Sainte-Marie, Barenaked Ladies, Ron Sexsmith, the Toronto Symphony Orchestra and more. And if you’re looking for fireworks, the Square will end every evening with a pyro display. There will also be an epic fireworks and light show surrounding the CN Tower on July 1st that will be all over your Instagram feed the following day. If you’re not already in the area, Tangerine’s Money Back Credit Card will help you get there. The card allows unlimited 2% cash back on purchases in three different spending categories, so you can choose the options you spend in the most frequently.
Run a marathon
Over in Manitoba, athletes will be testing their physical limits with a 150 mile run beginning on Canada Day at the Winnipeg River. Participants have 60 hours to complete the marathon. If the idea of 150 miles sounds like a living nightmare (and it does), you also have the option to participate in teams of three, with each person taking on 50 miles.
Throw your own party
BBQ season is in full swing, and celebrating in the backyard with all your friends and family might be the best bet if you have young children to worry about. Avoid having to leave the celebration early by hosting your own event—so you can put the kids to bed and get back to the party. You’ll need to stock up on beer and meat for the grill, which makes for the perfect opportunity to whip out the Scotia Momentum Visa Infinite card, with its generous 4% cash back applied to groceries (and gas—if you do end up going on a road trip for the weekend).
Wake up at dawn in St. John’s
Newfoundlanders have a tradition of waking up at sunrise to be among the first to celebrate the day, with a sunrise ceremony that happens every year at the top of the city’s Signal Hill. The fun starts at 6am, meaning the rest of the country will still be asleep.
Visit a part of the country you have yet to explore
Canada is huge, and unless you are a frequent traveler who is fond of the wilderness and nature, it is highly likely that there are still provinces and territories you have yet to step foot in. The best way to celebrate the birth of your home nation is to explore it. Choose a city or town you have never even considered visiting, and book a ticket. If you have been using your MBNA Rewards World Elite Credit Card often enough, you probably have enough points saved up to fly yourself and your entire family to even the most remote, pricey location. Yukon, anyone?
Take advantage of the free parks pass
In honour of this momentous birthday, Parks Canada has offered up free passes to get you and your family into any park in the country. Hit the road and take this opportunity to see some of the most beautiful parks in the world for free while you still can. Few things in life are free, so this is a deal worth making a trip for. And we all know camping is the greatest Canadian pastime of all time, so pack a tent and spend some time in nature before heading back to the grind.

While it’s impossible to do everything on this list, you can also use it as a guide for how to enjoy your summer and the rest of the year as the celebrations continue. Happy Canada Day!]]>
marc@greedyrates.ca
June 2017 Roundup: New Promotions and Card Updates http://www.greedyrates.ca/blog/best-credit-card-offers-june-2017 Tue, 20 Jun 2017 14:15:44 -0400
*Dear GreedyRates readers: An earlier version of this article included an exclusive deal with WestJet for June. Unfortunately, we at GreedyRates misunderstood our partners at WestJet, for which we apologize to both our readers and our partner. For those GreedyRates readers that signed up with the understanding that the deal was in place we will take it upon ourselves to make things right.
For those who applied for a card through GreedyRates June 22 – 24, 2017 and were approved, WestJet will honor the offer as originally posted. If you meet that description, please send us your WestJet Rewards details via the contact form on our contact page. We will then pass that information on to WestJet.
American Express
One of the biggest issues Canadian cardholders have traditionally taken with American Express is its limited usability, since many locations don't accept this form of payment. Well, Amex has listened to the public’s longstanding complaints, and they’ve made some significant policy changes this month that will make their cards far more accessible to the average Joe and could dramatically broaden their reach.

Policy changes include:

American Express has removed the minimum income requirement for new card applicants. In the past, you needed to have at least a $40,000 personal income to be eligible. Now, any Canadian can apply. This opens the door to students, low-income citizens, or those who work off the books.
They’ve also loosened up their bankruptcy-free policy for new applicants. Formerly, new applicants had to be bankruptcy free for at least 7 years prior to application. That period has now been reduced to only 2 years, a major game changer for Canadians who had a rough spot but have worked their way out of it.

And regarding the fun stuff, each type of card that American Express offers has an updated and improved membership rewards points status.

American Express Business Platinum Card: Receive 40,000 Membership Rewards Points!
American Express Business Gold Card: Receive 30,000 Membership Rewards Points!
American Express Gold Rewards Card: Receive 25,000 Membership Rewards Points!
American Express SimplyCash Preferred™ Card: 5% Cash Back on ALL Purchases For First 6 months (up to $300 cash back), 2% After!

There's also a first-year annual fee waiver (save $99) for the Gold Rewards card, making it even more appealing, and the Platinum card is a must-have for frequent flyers with a lot of travel perks like lounge access and elite status.
National Bank World Elite Mastercard
Sign up anytime before August 15th, 2017, and get 25,000 bonus points in return (up to $250 in value). This promo is coming as part of National Bank’s bold move toward the travel sector. They’ve previously not been very active in this industry, so it should be a good chance for Canadian cardholders to reap more benefits from the healthy competition that this card will generate. Click here to apply for it now.
Capital One
Last but not least, Capital One cards have finally been reviewed by our GreedyRates' staff! Check back for more updated Capital One card reviews for the best deals and promotions around. In the meantime, enjoy the Capital One Guaranteed Secured MasterCard, a perfect choice for those in need of some credit score repairing!]]>
marc@greedyrates.ca
The Canadian Tire Options® MasterCard® http://www.greedyrates.ca/blog/the-canadian-tire-options-mastercard Wed, 14 Jun 2017 16:16:07 -0400
No annual fee
0% APR financing on purchases of $200 or more at Canadian Tire
Earn Canadian Tire Money at a flat 2x rate on all purchases
Earn Canadian Tire Money at a 10x rate at Canadian Tire and partner stores
Redeem Canadian Tire Money at the pump, or in the store
24/7 customer service
Optional identity theft deterrence features

[button color="red" size="medium" link="https://customer.ctfs.com/ApplyNow/OptionsMasterCardApply/?_ga=1.196426220.1352230459.1492780790" target="blank" ]Apply Now![/button]

For the millions of Canadians who rely on their local Canadian Tire to fill up their vehicles, buy necessities for the family and more, the Canadian Tire Options® MasterCard® has the potential to save hundreds if not thousands of dollars on these types of purchases each year. Cardholders earn Canadian Tire Money everywhere, participating in a valuable rewards points system redeemable directly at the gas pump, or for food, toys, and lifestyle products in Canadian Tire locations across the country.

When purchasing in Canadian Tire locations across Canada, members earn Canadian Tire Money at 10x the normal rate – the equivalent of 4% cash back. There is also a broad network of partner stores that help members earn at the same 10x rate, including Sport Chek, Mark’s, PartSource and more. Everywhere else, these earnings slow to a 2x rate but are not restricted by purchase. This rewards ecosystem helps Canadians simultaneously save and earn on some of their biggest bills.

Other than an advanced rewards rate, a new draw to the Canadian Tire Options MasterCard is a limited time promotion run by the bank, which grants every cardholder the ability to get 0% APR financing on any purchase over $200 from Canadian Tire. With no fees for this financial advantage nor annual membership costs, there are few reasons not to apply for this unique credit card.
Why We Like It:

No Annual Fee: Whereas other rewards cards burden cardholders with fees in the form of an annual membership charge, the Canadian Tire Options MasterCard has the potential to save as much or more than its peer cards, and comes at absolutely no cost. Similar cards charge as much as $60 for just the annual fee, and lack some of the secondary benefits.


Interest-Free Financing: For no fees and a 0% interest rate, cardholders can pay for purchases at Canadian Tire totaling $200 or more in monthly installments, with terms up to two years. For those who are protective of their balance or who need increased cash flow, this limited-time bonus is a great option.


Flexible Canadian Tire Money: Earn with any purchase, anywhere when holding the Canadian Tire Options MasterCard. Aptly named, members with this credit card have many options when it comes to accruing points, but for purchases made at Canadian Tire stores or partner brands, they earn at a significantly increased rate. Ten times the normal pace of accrual equals 4% cash back – a highly competitive offer.


The Value of Rewards: Canadian Tire Money can be spent at the gas pump or at the register in Canadian Tire stores across Canada. A combination of gas and items from the store, such as lifestyle products, food and snacks, could represent a large portion of monthly bills. The Canadian Tire Options MasterCard can help reduce household expenses in a big way.


Customer Service: Canadian Tire representatives are known as some of the most friendly and helpful around, and are all based in the country, so customers know there is a fellow Canadian on the other end of the line. Phone support is available 24/7 for customers with inquiries, comments or concerns.


Protect Your Identity: Cardholders have the choice to pay a bit extra for some identity theft deterrent features, like credit monitoring and added protection when traveling. They can also opt in for life, disability and critical or terminal illness insurance to protect against unforeseen life events that may threaten financial stability.

Is It Worth It?
One of the most relevant factors in determining if the Canadian Tire Options MasterCard is worthwhile for any potential customer, is how often they shop at Canadian Tire. Given the many branches across the country and plethora of products available, there is a good chance that many Canadian citizens may find the card frequently beneficial when it comes to completing day-to-day errands.
Conclusion
For no annual fee, those who incur heavy expenses from Canadian Tire and its partner stores can gain relief in the form of steady savings. For what it is, the card is a strong contender among similar-level rewards cards, and is aimed more towards customers spending heavily on gas. Customers for whom a long commute is a normal occurrence will find a handy companion in the Canadian Tire Options MasterCard.

[button color="red" size="small" link="https://customer.ctfs.com/ApplyNow/OptionsMasterCardApply/?_ga=1.196426220.1352230459.1492780790" target="blank" ]Apply Now![/button]]]>
marc@greedyrates.ca
It’s Not You, It’s Me: The Air Canada-Aeroplan Breakup and How It Affects Aeroplan Members http://www.greedyrates.ca/blog/how-air-canada-aeroplan-breakup-affects-aeroplan-members Tue, 30 May 2017 08:51:53 -0400
Ironically it was Air Canada that actually created the Aeroplan program in 1984 in an effort to grow its base of frequent flyers. Initially begun as a flight-oriented rewards program, Aeroplan evolved into a massive rewards behemoth with more than 75 partners representing over 150 different brands, spanning the spectrum of travel, retail and financial industries. In 2002 Aeroplan was sold to Aimia, a marketing and loyalty rewards company based in Montreal. Notable partners include 27 airlines from the Star Alliance network, as well as retailers like Gap, Esso, Chapters, Home Hardware and more. Aeroplan also has partnerships with credit cards, such as TD Bank, CIBC and American Express, that allow cardmembers to gain additional rewards points for purchases. Aeroplan’s affiliation with Star Alliance and the multi-faceted (and continuously expanding) accrual and redemption options played a large part in the program’s success and steady growth, such that today it now has over 5 million members.

Unfortunately for Aimia, Aeroplan’s market share is a major part of its success, which is why the corporation’s stock fell more than 60 percent after the dissolution of its partnership with Air Canada was announced. It should come as no surprise then that Aimia seems the more eager of the two parties to reconcile their differences and salvage the relationship. GreedyRates spoke with Christa Poole, Aimia’s Senior Manager of External Communications, who said, “We continue to believe that a new deal with Air Canada is still the best option for our five million members of Aeroplan, as this has been a very successful partnership over the years for our members, pairing one of the best global airlines with one of the world’s leading loyalty providers.”

As to Air Canada’s side of the story, in a classic it’s-not-you-it’s-me move, the Canadian air travel giant has avoided making a statement about any concrete issues it took with Aimia’s running of Aeroplan. Rather, Air Canada indicated that it wishes to widen the reach of its rewards program and take on an even larger share of the loyalty rewards market. Air Canada says that the new rewards program (which has yet to be named) "…will offer additional earning and redemption opportunities, more personalized service and a better digital experience for Air Canada customers."
What Does the Split Mean for Aeroplan Members?
According to both Air Canada and Aimia, the Aeroplan-Air Canada partnership will continue to operate as normal until June 2020. Furthermore, Air Canada notes that Aeroplan miles accrued before June 2020 will be redeemable for Air Canada flights after the breakup date, though the miles themselves will not be transferable to Air Canada’s newfangled rewards program.

For its part, Aimia is dealing with the split by emphasizing Aeroplan’s non-flight related rewards, like retail and hotel partners. “In addition to flights, Aeroplan members redeemed more than 700,000 non-air rewards last year, through more than 1,000 specialty, merchandise, hotel, car rental and experiential rewards. Since launching the merchandise, hotel, car rental and experiential rewards in 2004, more than 144 billion Aeroplan Miles have been redeemed for non-air rewards.” Aimia also noted in an email to members that, “We know how much you care about this program, and we're working to secure great new redemption options for you after June 2020.”

Some of our whip-smart and slightly sarcastic GreedyRates readers emailed us noting the irony of Aeroplan’s name in light of the Air Canada breakup. When asked if Aeroplan is considering a rebranding, Poole responded with a one-word, “No.”
Should You Stay or Should You Go?
Until the dust settles and Air Canada’s new rewards program is more fully fleshed out, it’s difficult to know whether it will be worth staying with Aeroplan. Certainly, if you’re not a frequent flyer and find that you often redeem your Aeroplan points for things like hotels, rental cars and merchandise, you may well decide to stick with Aeroplan.

If, however, you’re an avid traveler and always redeemed your Aeroplan miles for free flights, it might be a good idea to start investigating new rewards programs now rather than wait to see how Aeroplan will adapt and what Air Canada will eventually offer. Here’s a brief overview of some frequent flyer-friendly cards that are worth considering.
Scotiabank Gold American Express
This is one of our favorite travel rewards cards as it has the most generous reward categories in Canada. Cardholders earn 4x Scotia Rewards points for every $1 spent on gas, groceries, dining and entertainment. You earn 1x points on all other purchases. Presently the card is offering a generous sign-up bonus of 30,000 points (worth $300), with no annual fee in the first year when you spend $750 in the first three months. There’s also a bevy of other travel-oriented perks like airport lounge access, travel insurance and concierge service. Click here for the full review
American Express Gold Rewards Card
This card is one of Canada’s unsung reward-earning heroes. It offers new cardmembers a bonus of 25,000 Membership Rewards when you charge $1,500 in your first 3 months. You’ll also earn 2x points for every $1 in eligible purchases. It offers awesome flexibility with the ability to transfer your points to other frequent flyer programs like Aeroplan or Avios. The card is also waiving its annual $150 fee for the first year. Click here for the full review
Rogers Platinum Mastercard
Even if you’re not a Rogers customer, this card packs a lot of punch with the country’s best cashback rate of 1.75% in all categories. Not only is Rogers waiving the fee in the first year, but it’s also offering a cashback bonus of $25 when you make your first purchase within the first 90 days. All that cash back could add up to a nice bundle for an upcoming vacation, and frequent travelers will really appreciate the 4% cash back you receive on purchases made in foreign currency. Click here for the full review
RBC Visa Infinite Avion
This card nets 1 point per $1 spent on any general purchase and 1.25 points per $1 spent on travel. You’ll also receive a welcome bonus of 15,000 points which can be redeemed for travel on any airline with no blackout dates. For the yearly fee of $120 you also receive additional benefits like trip cancellation insurance, emergency medical insurance and purchase protection. Click here for more details on the RBC Visa Infinite Avion card
CIBC Aventura Visa Infinite
Enjoy a welcome package of 15,000 bonus points (worth $300) when you make your first purchase. You’ll earn 2 points per $1 when you purchase travel through the CIBC Rewards Centre portal and 1.5 points for every $1 you spend on gas, groceries and at drug stores. All other purchases earn you 1 point per dollar. You can use your points to book travel on any airline with no blackout dates. The annual $150 fee is waived in the first year.
Last but definitely not least – The WestJet RBC World Elite Mastercard
Another favorite among globetrotters is the WestJet RBC World Elite Mastercard. Signing up currently earns 250 WestJet dollars, with no minimum spending requirement. The card earns 2% in WestJet dollars when used to buy WestJet flights or WestJet Vacations packages, and earns 1.5% in WestJet dollars for all other purchases. For the annual fee of $99, you also get your first checked bag at no cost. Where this card really shines is if you have friends or family who love to travel, as cardholders receive an annual companion voucher to wherever WestJet flies. Click here for the full review
Final Thoughts
Whether or not you decide to look for a new rewards program, it’s certain that in the meantime, much like parents competing for a child’s affections after a divorce, Aimia will work hard to retain members’ loyalty with the promise of bigger and better rewards. As Poole notes, “What’s important for us is that our members will continue to be at the centre of our program. We know flight rewards are a member favorite. We’re committed to preserving a high value redemption proposition for Aeroplan members, including travel and flight rewards with industry leaders. We are hopeful for our members to be able to redeem for flight rewards on Air Canada and other airlines long past 2020 and we look forward to providing more details at the earliest possible time.”]]>
marc@greedyrates.ca
Face Off: Nordstrom Canadian Visa Card vs. American Express Gold Rewards Card vs. Scotia Momentum Visa Infinite Cash Back Card http://www.greedyrates.ca/blog/nordstrom-canadian-visa-card-vs-american-express-gold-rewards-card-vs-scotia-momentum-visa-infinite-cash-back-card Thu, 25 May 2017 08:57:43 -0400 Nordstrom Canadian VISA Card Benefits
You might be thinking if you are already a member of the Nordstrom Rewards program, the VISA card is not necessary. But this isn't the case at all. In fact, Nordstrom cardholders have a lot more benefits. While both members can convert 2,000 points into $20 bonus notes, here are some of the benefits that cardholders enjoy while Canadians who are simply part of the Rewards program do not.

Reward Members earn one point per dollar spent at any Nordstrom Canada store. This is true regardless of how you pay for your purchase (meaning purchases paid for in cash or non-Nordstrom credit cards help you accrue points). Conversely, Nordstrom Rewards cardholders earn twice that much (two points per dollar spent) in any Nordstrom or Nordstrom Rack store in the US or Canada, Nordstrom.com, NordstromRack.com, Trunk Club, and HauteLook whenever they use their card.

Using your Visa card anywhere else will award 1 point per dollar spent. Additionally, Canadian cardholders gain other benefits such as:

A $20 bonus note upon first purchase with their cards at participating locations
Early access to anniversary sale items
Exclusive bonus point events
Triple Points day throughout the year (up to four per year)
Other random points days that reward cardholders with up to ten times the normal amount of points awarded
Alteration reimbursements
Competitively low APR rates
Roadside assistance and travel insurance

*Cardholders should bear in mind that points earned as a Nordstrom Rewards Member cannot be combined with Nordstrom Canadian VISA Card points.
Nordstrom Canadian VISA Card Drawbacks
Of course, the Nordstrom Canadian Visa card isn’t flawless. The drawbacks to this card include:

Notes expire one year after date of issuance. This isn't a huge drawback though since cardholders can easily spend the notes online before they expire.
There are no in-store discounts on additional purchases as is the case with many retail credit cards.

Scotia Momentum Visa Infinite Cash Back Card Benefits
Next, we'll discuss the Scotia Momentum Visa Infinite cash back card. This is one of the top cash back cards Canadians can own. It offers .4% back on gas and groceries, 2% on pharmaceuticals and frequent bills, and 1% on anything else. Scotia is easily the best cash back card on offer, and Canadians who shop anywhere will benefit greatly from things like:

Annual waiver of first year’s fee
Highest cash back rate of all Canadian credit cards for gas and groceries category
Access to Visa Infinite Enhancements
Discount on car rentals from Avis

Scotia Momentum Visa Infinite Cash Back Card Drawbacks
There aren’t many, but the drawbacks of the Scotia Momentum Visa Infinite cash back card are:

The earn rate is capped at $25,000, at which point all purchases earn 1%
The necessary income level is a little high, and you need an excellent credit score rating
Interest rates climb high if you aren’t on top of payments

American Express Gold Rewards Card Benefits
American Express has many credit cards on offer, but the Gold Rewards card is a relative unknown in comparison to some of the more publicly recognized options. According to the stats, however, this is one card not to be missed. It offers tremendous benefits to Canadian cardholders with one of the biggest signup bonuses around, an annual fee waiver for first time users, and a solid earn rate for purchases, making it one of the most lucrative Aeroplan cards available to date. Here is a closer look:

Earn 25,000 points just for signing up (enough for a cross country flight within the US)
Earn 2 points per dollar spent
Book flights on any airline around the world
Upgrades in hotels and airfare
Annual airline credit
Choose from a wide range of airline loyalty programs to cash out points

American Express Gold Rewards Card Drawbacks
The American Express Gold Rewards card is limited in that it has:

High annual fee after the first year’s waiver
Not internationally accepted

Conclusion
The Nordstrom Canadian VISA card is a great option for those who enjoy this retail chain. There are no annual fees, several stores, and the benefits are spread across Canada, the US, and even online. Additionally, with a $20 gift note, this card offers Canadians one of the most impressive signup bonuses (percentage-wise) around. Finally, the debit card option makes Nordstrom’s Visa something unique, manageable, and smart for shoppers in the area.

The Scotia Momentum Visa Infinite cash back card is the best cash back credit card on offer to Canadian citizens, with 4% back and an annual fee waiver for the first year. Since this isn’t a cash back card, Nordstrom isn’t in direct competition of the Scotia card, and with no annual fees, there’s nothing to hold you back from keeping both cards in your wallet.

Finally, the American Express Gold Rewards card has the largest signup bonus of any of this type on offer to Canadians. Cardholders earn either $250 in cash or a free return flight with the 1:1 trade off in Aeroplan miles. Like the Scotia card, the annual fee waiver is a nice touch, and the double point earnings in the widest range of categories puts the American Express Gold Rewards card at the top of the list. For frequent flyers, it’s a great choice.]]>
marc@greedyrates.ca
May 2017 Roundup: Hot New Offers & An Update (Tangerine's) http://www.greedyrates.ca/blog/best-credit-card-offers-updates-may Tue, 16 May 2017 15:51:54 -0400 Tangerine MasterCard: Still a Solid Choice
The Tangerine cashback card came onto the scene with a real splash, offering no annual fees, unlimited cashback, 2% on two categories of your choice (three if you have your cash back earnings deposited into a Tangerine Savings Account) and 1% on all other categories. With not even a year under its belt, Tangerine has changed its policy, making some Canadians reconsider their choice. Although the 2% cashback on three selected categories remains intact, all other categories will have a 0.5% cashback reward instead. Additionally, the card is raising its foreign transaction fee from 1.5% to 2.5%.

Granted, the bait and switch isn’t good business practice, but the Tangerine credit card is still one of the best on offer in Canada today. With no fees, it literally doesn’t cost you a thing to keep the card in your wallet. For the promo categories, 2% is a great deal, and there’s still unlimited cashback, an advantage most credit cards won’t provide. So even with the changes made, the Tangerine money-back credit card is still a competitive choice for shoppers.
Scotiabank: Continuing Its Reputation for Excellence
Scotiabank has plenty of cards on offer including the Scotiabank Momentum MasterCard, which is still one of the most popular options among the Canadian public to date. A few changes among Scotiabank cards worth noting include: 

Scotiabank®* Gold American Express® Card is actually raising the signup bonus from 25,000 points to 30,000. That’s a tremendous offer worth $300 (instead of $250), so travelers can really take advantage of this upgrade.


The Scotia Momentum® VISA Infinite card’s signup bonus is being changed. Instead of giving 5% cashback for the first three months and an introductory 1.99% on balance transfers for the first six months, now cardholders simply get to waive the annual fee for the first year.
Scotiabank®* American Express® Card is extending the annual fee waiver of $39 to July 31st from April 30th.

Bottom line, Scotiabank is looking for ways to keep customers happy, and Canadian cardholders should make the most out of these offers.
The American Express NEW SimplyCash™ Preferred: More Cash Back
The American Express cashback card continues to live up to its name. While the annual fee is being raised from $79 to $99, the 5% cash back granted for the first six months is now being extended to ALL purchases. Additionally, the cash back offer has no category limitations, so you can get rewards points for purchases on anything like grocery, gas, dining, pharmaceutical, and more. In case that wasn’t enough for the American Express SimplyCash™ Preferred card, the $100K cap on cashback rewards has been lifted, so now Canadians can earn 2% cash back after the six months with no cap.
Canadian Tire Options® MasterCard®: Plenty of Options
Canadian Tire MasterCard is a relatively new face to GreedyRates, but it's looking like it may become an attractive option for Canadian cardholders. CTFS is the financial service arm of the Canadian Tire retail chain that recently began its foray into the credit card market.

The Options card is currently the most benefit-laden CTFS card, but the financial institution also offers other Canadian Tire credit cards including their well-known Gas Advantage® MasterCard® and Cash Advantage® MasterCard®. Here’s a quick breakdown of the three:

Canadian Tire Options MasterCard®: Easily the fastest and best way to collect Canadian Tire Money, the Canadian Tire Options MasterCard® has a lot to offer. Cardholders can earn up to 4% (or 10x) at participating Canadian Tire stores, Mark’s branches, Sport Chek locations, and Driver’s Academy. There’s also a unique multiplier for purchases at the Canadian Tire Gas Bars. Best of all, you will receive 2x reward points on all other purchases made with this card. Canadian Tire Points are good for purchases at any Canadian Tire store, and members will receive bonuses and exclusive offers just for signing up. Tech-ready consumers will appreciate the web app for faster payment, along with Apple Pay compatibility that lets you pay anywhere you go for contactless and headache-free purchasing.
Gas Advantage® MasterCard®: This CTFS card offers a tiered discount system based on your previous month’s spending. Canadians can earn up to $.10 off per litre of gas, a big benefit considering the rising petrol prices. Discounts are used for gasoline/diesel purchases at all Canadian Tire Gas Bars. Rewards are accrued by making purchases at any Canadian Tire Stores, online, or Mark’s. All purchases will be doubled during the promotional period. There is a $500 cap on the highest level of discount per litre, though and after $500, your discount is lowered to $.02/litre. Another benefit to this card is that there’s no annual fee, and CTFS offers financing plans for in-store purchases.
Cash Advantage® MasterCard®: The Cash Advantage card really makes an inviting offer. Now cardholders can get up to 1.5% cash back on all purchases anywhere and a whopping 3% cash back at Canadian Tire stores. How much you earn depends on the extent of your purchases and your annual credit balance/record. The 3% cashback offer is good for all Canadian Tire stores (online, in person, or catalogue purchases), as well as Canadian Gas Bars and Mark's purchases. As with their other cards, the Canadian Tire Cash Advantage® MasterCard® has no annual fees and an easy online signup process.

It’s a great month to go shopping, so grab one of these reward-rich credit cards and start earning points today.]]>
marc@greedyrates.ca
When It Comes to Credit Cards, One Bank Isn’t Enough – Canadian Banks in Review http://www.greedyrates.ca/blog/best-banks-in-canada Sun, 07 May 2017 15:57:22 -0400
These days, banks and credit cards are commonly mentioned in the same breath, and many know that a bank is only as good as its best card. Besides providing customers with a way to access and easily use their funds – whether at home or across the world – the best credit cards now come with a plethora of bonuses and benefits meant to bring extra value to the cardholder.

Here we consider the best banks in Canada, and the cards their customers love. There will be a few familiar names, but also some unique nominees that may surprise. Whether for travel bonuses, cash back or another enticing bonus category, all the best Canadian banks and their credit cards are here to square off.

Keep in mind, the best bank in Canada is tough to qualify, so this list does not put them in any particular order. You can quickly navigate to your bank of choice by clicking on any of the following names:

Scotiabank
RBC Royal Bank
Rogers Bank
BMO Bank of Montreal
National Bank of Canada
PC Financial
Canadian Tire Bank
TD Canada Trust Bank


Scotiabank

Scotiabank brings an array of unique credit cards to the table, many of which do not stick to a single bonus niche but rather add value in multiple ways. They are the third largest bank in Canada, and one of the best, rising quickly through the ranks in recent years by constantly releasing innovative and exciting offers, much like the card mentioned below. 
Scotiabank’s Best Credit Card:
The Scotiabank Gold American Express Card
Combining a worthwhile instant bonus and point accrual rate, this double-edged card is a strong addition to any wallet. For no annual fee and an instant travel credit of $250, it saves hundreds right from signup. However, its strengths are in its everyday use: even before customers spend $750 in the first three months and receive their lump-sum credit, points accrue at a rate of 4 per $1 spent on gas, groceries, dining and even entertainment. Then, these expenses can be paid off with the very same points!

30,000 Scotia rewards points (offer expires July 31, 2017)
First year annual fee waived
4% earn rate on gas, groceries, dining, and entertainment
Pay off purchases with points

Click here to apply for the Scotiabank Gold American Express Card

RBC Royal Bank

The Royal Bank of Canada, or RBC, is the largest financial establishment in the country. They place a high importance on community, and this value reveals itself in many of their offerings. One of the quality products that has become a first choice amongst RBC clientele with families is the one covered below. 
RBC’s Best Credit Card: The WestJet RBC World Elite MasterCard
MasterCard and WestJet have teamed up with the Royal Bank of Canada to produce one of the most useful travel tools we have encountered - the World Elite credit card. Many of the hassles and obstacles inherent in traveling with family are addressed by this feature-heavy card, including the extremely valuable annual companion flight voucher. This lets cardholders purchase a round-trip companion flight ticket for just $99 to anywhere within North America. Other excellent benefits are an immediate $250 travel voucher (useable with the same companion flight!) and a free checked bag for the primary cardholder and up to eight companions. This alone has the potential to save up to $240 in baggage fees, assuming it costs $30 per bag. The addition of travel medical insurance for the family wraps up one of the best credit card deals seen lately in Canada.

$250 travel voucher
$99 companion flight voucher
Free travel medical insurance
Free checked bag for you and up to 8 companions


Rogers Bank

A relatively new player on the scene, Rogers was founded in 2013 and quickly became a popular domestic bank for Canadian citizens. Like other banks, it offers rewards cards with appealing bonuses, but their best offering suits those customers who do business internationally. 
Rogers Bank’s Best Credit Card:
The Rogers™ Platinum MasterCard® 
This unique cash back card is a true powerhouse when used by prolific shoppers, which is one reason why it has garnered the number one spot on our list. The other reasons concern the magnitude of the bonuses provided, including a competitive 1.75% cash back on all purchases made in Canadian dollars. The better bonus, however, is a remarkable 4% unlimited cash back on all purchases made in a foreign currency. This could mean travel expenses from your business trip or your latest online shopping spree. On top of exemption from the first year’s annual fee, there are few reasons not to apply for this great card.

$54 in instant savings ($29 annual fee waiver, $25 first purchase bonus)
75% cash back on purchases in CAD
4% cash back on purchases in foreign currencies

Click here to apply for the Rogers™ Platinum MasterCard®

BMO Bank of Montreal

Like many banks, BMO understands that technology and new innovations are driving their industry in a different direction, and they have decided to go with the flow. An institution that puts special focus on the personal side of a digital world, much of what BMO offers is aimed at the next generation. 
BMO’s Best Credit Card: The BMO SPC MasterCard
The credit card we have chosen as BMO’s best may not be as exclusive as its peers, but a unique combination of easy approval and great bonuses provides those who may be getting their first card a taste of what bigger competitors offer. Targeted primarily at students, there is no minimum annual income or annual fee, giving young cardholders access to a line of credit for virtually nothing. It also grants 10-15% off at hundreds of retailers across Canada (on top of existing student discounts that they may offer), plus one of two other benefits chosen at the cardholder’s discretion. They can either receive a $60 welcome bonus and 1% cash back or a welcome bonus of 500 Air Miles with no additional fees.

No minimum income
No annual fee
Save 10-15% in eligible retailers
Get 1% cash back and $60 or no fees and 500 Air Miles

Click here to apply for the BMO SPC MasterCard

National Bank of Canada

Headquartered in Montreal, the National Bank of Canada serves millions of Canadians in a socially responsible and beneficial manner. The great bonuses featured on many of their cards focus on protecting customer to the utmost, and it so happens that the card we have chosen as their best is cut from the same cloth. 
National Bank of Canada’s Best Credit Card: The National Bank World Elite MasterCard
Providing peace of mind for cardholders is the modus operandi of this powerful piece of plastic. Customers enjoy a two-pronged bonus that entails a high earnings rate on points and almost every kind of insurance under the sun. Those who travel abroad with their families will appreciate the airtight protection brought by the National Bank World Elite MasterCard, which provides free out-of-province medical and hospital insurance, trip cancellation, trip interruption, flight delay, baggage insurance and even insurance on a rental vehicle. Moreover, customers earn points at an impressive rate of 2.5 per $1 spent alongside a rebate worth $250.

5 points per $1 spent
$250 rebate on travel fees
Travel medical insurance
Trip and flight protection
Rental vehicle coverage

Click here to apply for the National Bank World Elite MasterCard

PC Financial

PC, or President’s Choice bank, is brought to customers by Loblaw Companies, a giant in the Canadian food and pharmacy industries. Accordingly, rewards offered by PC credit cards are firmly cemented in these sectors, but are handed out at a much better rate than the competition. One of the best examples is the number one PC Financial card that we have included on this list. 
PC Financial’s Best Credit Card:
The PC Financial World Elite MasterCard
The sheer amount of rewards accrued for using this great credit card puts it leagues ahead of the competition, specifically on some of the biggest monthly bills of any household. Customers who shop at eligible grocery stores such as Loblaw or Shopper’s Mart get 3% of their purchases back as rewards points, which can then be used to pay for groceries right at the checkout counter. Cardholders also receive a 3% earn rate on eligible travel purchases, 3 cents back per litre at eligible gas stations and 1% back on everything else. Besides the fact that almost all purchases enjoy these rewards, free travel medical and car rental insurance seals the deal – especially considering that there is no annual fee!

No annual fee
00% back at Loblaw and Shopper’s Drug Marts
00% back on eligible travel purchases
3 cents per litre at eligible gas stations
00% back on all other purchases
Pay grocery bills directly with points
Free travel medical, car rental insurance and more

Click here to apply for the PC Financial World Elite MasterCard

Canadian Tire Bank

Operated by the Canadian Tire retailer, one of the biggest and most commonly found franchises in Canada, rewards from Canadian Tire cards are redeemable for the daily life necessities of most customers. They say that no Canadian lives further than 15 minutes from a Canadian Tire, so you do not have far to look when searching for a way to spend those points. 
Canadian Tire Bank’s Best Credit Card:
The Canadian Tire Options MasterCard
Remarkable for its high rate of bonus accrual, customers who use this MasterCard at their local Canadian Tire earn Canadian Tire ‘Money’ at a significant 10x rate every day. They also collect these rewards points elsewhere at a lower rate, redeemable for purchases at any Canadian Tire franchise in the country. The many locations and wide range of products sold at Canadian Tire makes this bonus ecosystem highly valuable for its members, who can purchase automotive, sports, leisure, home, toys and food products with their points (and earn at the same time). The integral function that Canadian Tire serves in providing for many Canadian families, plus the bonus program that is designed to save hundreds or thousands of dollars each year, makes the Canadian Tire Options MasterCard a perfect addition to any family’s financial toolset.

Earn 10x rewards points at Canadian Tire every day
Collect rewards points elsewhere as well
Redeem points for a wide range of necessities
No annual fee

Click here to apply for the Canadian Tire Options MasterCard

TD Canada Trust Bank

TD Canada Trust is a customer-focused bank headquartered in Toronto that provides financial services to thousands of small businesses and individuals across the country. It has become a trusted name among customers who enjoy its plethora of credit cards with advantageous travel benefits. 
TD Canada Trust’s Best Card:
The TD Aeroplan Visa Infinite Credit Card
The TD Aeroplan Visa Infinite is designed for those who love to travel, and accordingly it brings a healthy number of relevant bonuses. These include a healthy introductory bonus of 30,000 Aeroplan miles: the first 15,000 just for making a single purchase (it could be a pack of gum), then 10,000 for keeping an account in good standing and 5,000 for authorizing a second user. Alongside the $120 rebate on the annual fee (offer expired on May 16th, 2017), the immediate savings brought to customers who fly, whether for business or pleasure, are immense. Do note, however, that a prospective customer with a weaker credit score may not be eligible.

30,000 bonus Aeroplan miles
Extensive travel insurance
1.5 miles per $1 spent on gas and groceries

Click here to apply for the TD Aeroplan Visa Infinite credit card]]>
marc@greedyrates.ca
Transfer a Balance and Get Cash Back with the SimplyCash Preferred Card from American Express http://www.greedyrates.ca/blog/simplycash-preferred-americanexpress-cashback-card-review Sun, 30 Apr 2017 15:24:53 -0400 Get a head start on paying your balance and receive cash back in the process with the SimplyCash Preferred card from American Express. This double-edged bonus of 5% cash back and an interest rate of 1.99% gives customers who are transferring a balance from one card to another an extra boost to pay off their bills.

[button color="red" size="small" link="https://www.americanexpress.com/canada/en/cash-back-credit-cards/compare/?CPID=100275657GR_AMEX_simplycashPreferred" ]Apply Now![/button]

The SimplyCash Preferred At a Glance

5% cash back in the first 6 months
1.99% interest rate for 6 months on balance transfers
2% cash back after welcome rate ends, no limits
$99 annual fee

Why We Like It

5% Cash Back Bonus: For the first 6 months after the card’s activation, the customer will enjoy an impressive 5% cashback on purchases, up to a maximum value of $300. This means that cardholders who spend $6,000 a month for the first six months will get the cash back on every dollar.
Competitive Post-Bonus Cash Back: After the initial bonus period of six months, customers receive 2% cash back for the life of their account, applicable with absolutely no limits on spending.
Balance Transfer Bonus: Approved applicants who transfer their balance from one card to the American Express SimplyCash Preferred card pay only 1.99% interest for 6 months after activation. This bonus allows for a maximum of $7,500 or 50% of the customer’s existing credit limit to be transferred and paid off monthly at a near-zero rate, saving hundreds of dollars in interest payments.

Extra Benefits of the SimplyCash Preferred Card from American Express
American Express offers customers some truly advantageous benefits on top of the already great balance transfer and cash back rates. One that stuck out was the refer-a-friend bonus, which rewards customers with up to $3,000 for referring friends to sign up for the same valuable card. A cash payment of $200 for each referral is a nice incentive to get others the same benefits that you enjoy.

If you apply for and receive another American Express card after the SimplyCash Preferred card, you are qualified for an exemption from any annual fees as well, potentially saving hundreds of dollars for those who need supplementary cards for themselves or family.

These additional features also apply:

American Express Front of the Line Service: Special invites, e-updates, a reservation system and advanced access to some of the best shows and events.
Insurance:

Insurance against damage and theft of a rental car
Travel accident insurance value of $100,000
Foreign medical insurance
Theft of baggage and lost item insurance


For Shoppers:

Products that are bought with the American Express SimplyCash card have their manufacturer’s warranty doubled, extending protection for expensive purchases.
Insurance against theft or accidental damage on eligible new purchases made with the card.



Conclusion
For those who want an advantage when paying off their balance and need a reason to keep the card once they have repaid their outstanding amounts, the American Express SimplyCash Preferred card is especially suitable. An initial 6 months of beneficial bonuses on balance transfers, a competitive cash back rate with no limits, plus an array of nice features courtesy of American Express make this card very worthwhile for many individuals with outstanding credit card balances.

[button color="red" size="small" link="https://www.americanexpress.com/canada/en/cash-back-credit-cards/compare/?CPID=100275657GR_AMEX_simplycashPreferred" ]Apply Now![/button]]]>
marc@greedyrates.ca
The Best Business Credit Cards in Canada http://www.greedyrates.ca/blog/best-business-credit-cards-canada Thu, 20 Apr 2017 13:36:46 -0400
No matter how you run your business, the best business credit card grants the benefits you will find most valuable – whether in the form of rental car and airport lounge access for frequent travelers, cash back for those with large expenses, or low interest rates for protecting the bottom line. Take a glance at the list below to discover which of Canada’s best business credit cards can contribute the most to your livelihood.
For Small Businesses
Small businesses are particularly sensitive to fluctuating markets, and small business owners need a card they can rely on during challenging times. While a small business is usually an on-site endeavor, flexible travel benefits are much appreciated for time spent on the road, and the ability to accrue points for use on business expenses is an absolute must. Accordingly, there is one clear winner among the best small business credit cards in Canada.

[highlight]Winner[/highlight]: American Express® Business Gold Rewards Card

The American Express Business Gold credit card awards an impressive 30,000 points as a welcome bonus to those who spend $5,000 within the first three months of ownership – an easy hurdle to jump for most businesses that have expenses and overhead. The generous
welcome bonus is worth $300, but the best part is that it can be used to pay the same costs that generated the points in the first place.

Additionally, the beneficial ‘Your 3 Suppliers’ program awards points at double the standard rate of 1 per $1 spent when buying from any of the three suppliers specified to American Express beforehand. This powerful bonus allows business owners to accrue points at a boosted rate when paying for the vital supplies that keep the company afloat, and to pay off those purchases with the points themselves.

For no annual fee, the American Express® Business Gold card also comes with some useful travel benefits as well. The ability to transfer points to some of the most popular frequent flier programs helps reduce travel costs, and the many protections afforded to travelers make it a worthy companion on the road.

No annual fee
30,000-point welcome bonus
Use points to pay business expenses
Double bonus rate at your key suppliers
Travel insurance on baggage and flight delays, stolen items, accidents and emergencies, etc.
Use points with loyalty programs and frequent flier clubs
55 interest-free days
Quarterly and annual reporting simplify financial reporting

Click here to apply for the American Express® Business Gold Rewards Card


Runner Up: BMO Commercial MasterCard


Consolidate business expenses from purchasing, travel, entertainment and more into one program
Choose your reward: 1% cash back, air miles, low annual fee, US dollar compatibility, or nonprofit benefits
Purchase protection and extended warranty
Centralized data and reporting on expenditures in all areas of a business

Click here to apply for the BMO Commercial MasterCard
For Travel
Not all businesses are brick and mortar. Many high-flying businessmen and women are just that: flying - or traveling in general. Whether it is a big discount on a rental car, access to an exclusive airport lounge, or use of bonus points on frequent flier programs, travel-centric credit cards save money and pamper their owners at the same time.

While traveler bonuses are one of the more common rewards systems in place over a wide array of issuers and cards, it’s easy to spot the best of the bunch.

[highlight]Winner[/highlight]: The Business Platinum Card® from American Express®

With a strong focus on the convenience necessary for a smooth trip, the American Express Platinum Business card lets those who hold it travel in comfort and style. One of the main draws is free access to airport lounges in over 600 destinations around the world, as well as service from a personal concierge team that can arrange delivery and pickup of packages for you on the go. 

Additionally, members who spend at least $5,000 within the first three months of ownership get a massive 40,000-point bonus automatically. These points can be spent on business expenses, travel, gifts from the lofty first tier of the Membership Rewards program, and other eligible purchases with no limit. Points accrue at a favorable 1.25 point-per-dollar rate and can be transferred to many popular frequent flier and hotel groups.

The benefits covered by the Gold AmEx card like flight, travel, and baggage insurance are doubled, and Premium cardholders also get emergency medical coverage, phone access to an emergency physician 24/7, trip interruption and cancellation insurance, and the option to deduct the annual fee from your tax bill.

40,000-point welcome bonus
25 points per $1 spent
Worldwide airport lounge access
Dedicated concierge assistance
Points transferable to frequent flier and hotel programs
55 interest-free days
Thorough travel protection features

Click here to apply for the Business Platinum Card® from American Express


Runner Up: BMO Gold AIR MILES MasterCard for Business


1,000 bonus miles after initial purchase
1 mile per $10 spent in the first three months
1 mile per $15 spent after introductory rate
Easily and inexpensively add employee cards
Automatic rebates when purchasing from eligible merchants

Click here to apply for the BMO Gold AIR MILES MasterCard for Business
For Low Interest Rates
At the end of the day, the bottom line is critical to any business’s health. Protect the longevity of your company by receiving a discount on the amount you pay in interest on the business credit card. Owners who carry a balance from month to month will gravitate toward cards that grant the lowest interest rates possible. After all, saving money is a simple, yet powerful proposition.

When searching for the best card that has low interest rates, look not only at the rate you can attain, but also the extra bonuses that can make an appearance in certain cases.

[highlight]Winner[/highlight]: RBC Visa CreditLine for Small Business

With an interest rate of prime plus anywhere from 0.9% to 6.9%, customers who want to bring cut-and-dry financial benefits to their business are in luck. As of April 2017, the prime rate in Canada is just 2.7%, meaning rates with the RBC CreditLine Visa card run from 3.6% to 9.6% maximum. 

The card provides a valuable line of credit, doesn’t punish business for taking advantage of it, and comes with a rewards program as well. Employers can use the points that accrue - 1 point per $2 spent - on gift cards, merchandise and other gifts from the RBC catalog to incentivize employees.

Besides a competitive interest rate, rewards points can be spent on travel using the handy booking tool right from the RBC rewards site. While other cards can offer similarly low interest rates to business owners, RBC goes above and beyond with their extra features.

Rates as low as prime + 0.9% (3.6%)
Flexible line of credit for your business
Accrue rewards points at a rate of 1 per $2 spent
Use points on gifts, travel rewards, and other incentives

Click here to apply for the RBC Visa CreditLine for Small Business


Runner Up: BMO Preferred Rate MasterCard for Business


5% interest rate
$0 annual fee
Pay $25 and enjoy a 12.9% yearly rate instead
Add employee cards for just $5

Click here to apply for the BMO Preferred Rate MasterCard for Business
For Cash Back


[highlight]Winner[/highlight]: BMO Premium Cash Back MasterCard for Business

The exemption from an annual fee provides customers an immediate cash savings of $69, and for 6 months after activation, BMO Premium Cash Back MasterCard cardholders get an impressive 2% cash back on all their purchases. Additionally, 3% cash back on all purchases made at Shell stations, National Car Rental or Alamo Rent a Car branches across the country is a hefty bonus on what is sure to be one of the biggest monthly expenses. 

Though it is aimed for business travelers who find themselves on the road often, the BMO Premium Cash Back Business card can benefit anyone with free coverage from the BMO Roadside Assistance program.

Another noteworthy bonus is access to up to 25% off at the same National and Alamo car rental agencies that customers already get 3% cash back from. These well-thought-out features and solid terms make the BMO Premium Cash Back MasterCard for Business the clear choice for those who want the most worthwhile cash back credit card in Canada.

$0 annual fee
2% cash back for the first 6 months
1% cash back afterwards
3% cash back at Shell stations, Alamo or National rental car agencies
Free BMO roadside assistance

Click here to apply for BMO Premium Cash Back MasterCard for Business


Runner Up: National Bank Platinum MasterCard Business Card

5 points for every $1 spent on all purchases
Up to 2.5% off purchases made at any Ultramar location
Link a commercial account and enjoy overdraft protection
Platinum business insurance from Blue Cross
Enjoy zero liability with MasterCard

Click here to apply for National Bank's Platinum MasterCard Business Card
Conclusion
The best Canadian business credit card is not a single elusive option – there are several choices available for customers of varying needs. Before settling on a business credit card, decide which bonuses are most relevant to how your business operates.

Is frequent travel a necessity? If so, a card that awards flier miles, hotel stays or airport lounge access may be best. Is the bottom line your most important consideration? Then perhaps you should go with whichever card offers the lowest rates or awards the biggest cash back bonus. The decision is ultimately subjective, but any of the winning cards on the list above present very strong options.]]>
marc@greedyrates.ca
Best Credit Card Tips for April 2017 http://www.greedyrates.ca/blog/best-credit-card-tips-for-april-2017 Sun, 02 Apr 2017 14:07:25 -0400
When it comes to cashing in on credit cards rewards systems, timing is everything. Using the wrong card for the right purchase won’t give you the benefits you could receive if you were playing the system properly. If you want to make the most of your credit card rewards points programs, check out these top credit card tips for April. You'll be glad you did.
Tip #1: Look for Signup Bonuses
The majority of credit cards today will offer a sizable signup bonus, so don’t skip this freebie. Depending on the terms and conditions of the specific credit card deal, you can use the bonus in various ways during this month. For example, the TD Aeroplan Visa Infinite card offers a tremendous 30,000 bonus points, 15,000 upon your first purchase, 10,000 more after 90 days, and another 5,000 for an additional authorized user. Those points can be used for flights, taxes, and surcharges to more than 1,300 locations around the world. This offer ends in May though, so get on it now.
Tip #2: Don’t Pay for the First Year
Waving the first year’s annual fee is becoming a common practice, especially among the best points credit cards out there. Card holders should take advantage of this deal, and use their credit cards wisely. If you are systematic about it, you can theoretically get away with never paying an annual fee. Simply switch from one great credit card deal that offers no annual fee for the first year to the next, so you never have to deal with those pesky yearly charges. Rogers™ Platinum MasterCard® is an example of a card that waives that first year’s annual fee.
Tip #3: Get Travel Benefits
If you’re planning on taking a holiday this month, be sure to cash in on your rewards points. While vacations can be quite pricey, credit card plans can help you save quite a lot on your travels. Look for cards that have affiliate programs with airlines, hotels, and car rentals so you can trade in points for tickets, free nights, and rentals. While abroad, use credit cards with no foreign transaction fees or no currency exchange fees like the Marriott Rewards® Premier Visa® Card to save that expense as well.
Tip #4: Think About the Future
While spending now, don’t forget to consider the future. When purchasing new home decor, travel expenses, or even daily items, use credit cards with low interest rates to cut down on the extra burden of a large debt to pay off later. MBNA TrueLine MasterCard® credit card and American Express Essential Credit Card are some of the best low interest credit cards you’ll find. MBNA TrueLine MasterCard® credit card also has no annual fees, an additional saving, while the American Express Essential Credit Card allows cardholders to pay out their debt either gradually or all at once.

Playing the credit card circuit is not difficult once you know the tricks. No matter who you are or what your financial situation, you can get a good deal on a card and benefit from the many rewards programs available. There are even credit cards for people with bad credit, so don’t be discouraged by a low credit score. Find out your options today.]]>
marc@greedyrates.ca