Best Credit Cards in Canada 2017

Best Credit Cards in Canada 2018

April 1, 2018 20701 171

If you’re looking to bathe yourself in points, miles, cash or simply bask in the glory of 0% interest rates, Greedyrates.ca’s latest picks for Canada’s Best Credit Cards for 2018 should get you lathered-up into a frenzy!

Contents

You can stick with the card you have in your wallet, but do so at your own risk. Click the navigation links below to get to your preferable credit category quicker:

Summary of Best Credit Cards in Canada in 2018

Credit CardSpecial Card FeatureAnnual FeeCard ReviewApply for Card
Scotia Momentum Visa Infinite4% cash back on select categories$39Read MoreApply Now
Tangerine Money Back Credit Card2% cash back on 2 categories of choice$0Read MoreApply Now
American Express Cobalt™ Credit Card5 points per $1 spent on dining$120Read MoreApply Now
American Express Gold Rewards Card25,000 points welcome bonus$150Read MoreApply Now
CTFS Triangle World Elite Mastercard3% back in Canadian Tire money
4% back at selected stores
5 cents/L in Canadian Tire money at Gas+
$0Read MoreApply Now
Starwood Preferred Guest Card$250 in statement credits$120Read MoreApply Now
Rogers Platinum MasterCard3% cashback on foreign currency purchases$0Read MoreApply Now
Home Trust Preferred Visa0% transaction fees$0Read MoreApply Now
Scotiabank Passport Visa Infinite0% transaction fees$139Read MoreApply Now
MBNA Platinum Plus Mastercard0% balance transfer interest for 12 months$0Read MoreApply Now
Refresh Financial Secured VisaGuaranteed Approval
Low security deposit
$48.95Read MoreApply Now
The TD Cash Back Visa Infinite9% cash back on selected purchases$120Read MoreApply Now
The BMO® World Elite™ Mastercard®$2 million-worth medical insurance$150Read MoreApply Now
BMO SPC MastercardEasy approval, 10-15% discounts across Canadian retailers$0Read MoreApply Now

Best Credit Card for People Looking for Cash Back

Scotia Momentum Visa Infinite

Scotia Momentum Visa InfiniteIf you are seeking cash back rewards, the Scotia Momentum Visa Infinite offers some of the most comprehensive cash back accrual rates in Canada.

Cardholders receive 4% cash back on eligible grocery and gas purchases—one of the highest regular rates in Canada for these purchase categories. This is capped at a very high annual spend limit of $25,000 ($1,000 cash back). The card also returns 2% cash back at pharmacies and automated recurring bills. All other purchases generate 1% cash back.

This may seem like enough, but Scotia’s Visa Infinite card also offers entry to fine dining experiences and music performances, and provides perks at luxury hotels. To add even more value, cardholders gain access to an around-the-clock concierge service for all their planning and reservation needs. Finally, the Scotia Momentum card offers excellent travel benefits including several kinds of travel insurance like medical, trip interruption, flight delay, and more.

All of this is sweetened by the fact that the card waives its annual fee for the first 12 months (only for new accounts opened by June 30th, 2018).

For more cash back categories, visit our page of the Best Cash Back Credit Card Rankings in Canada for 2018.

Click Here To Apply For The Scotia Momentum Visa Infinite

Best Credit Card for Flexible Cash Back

Tangerine Money-Back Card

Cash back is a pretty straightforward perk, but even a straightforward perk should ideally be tailored to a cardholder’s interests. With the Tangerine Money-Back card, it’s easy for cardholders to choose two purchase categories where they’ll earn 2.00% cash back. The card breaks up purchases into different groups: grocery, furniture, restaurants, hotel-motel, gas, recurring bills, drug store, home improvement, entertainment, and public transit and parking. Cardholders simply need to do an analysis of where they spend the most each month before picking the relevant cash back categories to begin earning.

By choosing to send all or a portion of their cash back to a Tangerine Savings Account, cardholders will earn the right to choose a third cash back category. On purchases not from a chosen category, cash back accrues at 0.50%. The way that cash back is redeemed is also flexible: you’re given your cash back monthly and can decide to apply it to your balance or send it to a savings account.

As an additional perk, other authorized users on your account can receive supplementary cards for free and enjoy earning cash back alongside you. You’ll also enjoy protection for new items purchased with the card and extended manufacturer’s warranties where applicable.

Click here to apply for the Tangerine Money-Back card

Best Credit Card for Going Out

The American Express Cobalt™ Credit Card

American Express CobaltA night out on the town in Canada is rarely cheap. But with the new Cobalt card from American Express, cardholders can earn accelerated reward points on all their restaurant spend, and then redeem these points on travel and entertainment.

The card’s standout feature is its massive earning rate on food: 5 points per $1 spent on dining out (and in!). This includes restaurants, bars, takeout, and even groceries. Points are also earned on travel in all its forms, with 2 points accrued per $1 spent on taxis, ridesharing, rail, gas, and airfare.

A great system for earning rewards on what you spend is complemented by Amex’s generous bonus offer. The introductory promotion allows new cardholders to get up to 30,000 points in their first year – just for spending $500 per month. 1 rewards point is equal to $0.01, giving the first-year bonus a potential value of $300. Cardholders can redeem their rewards by treating themselves to concerts, sport events, theatre, or any other Ticketmaster event they like. Or, if they prefer to get out of town, they cash in the rewards for a long-haul flight to virtually anywhere in Canada or the continental United States.

Click Here To Apply For The American Express Cobalt™ Card

Best Credit Card for People Looking For Free Travel

American Express Gold Rewards Card

American Express Gold Rewards CardThis 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, it comes with a 25,000-point welcome bonus (as long as you spend $1500 on the card in the first 3 months). 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 Rewards 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 25,000 points that can be converted into a $250 travel credit or 25,000 Aeroplan miles, you can redeem for a 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 Household Expenses

CTFS Triangle World Elite Mastercard

ctsf_Triangle_World_Elite_MasterCardFamilies that spend significant amounts monthly on groceries, gas, home and garden maintenance, and other household bills will benefit immensely from the huge earn rate of 3% in Canadian Tire Money on purchases in participating grocery stores. There’s also 4% back on transactions in Canadian Tire, Mark’s, Prok Chek, and Atmosphere, and 5 cents back per litre in Canadian Tire Money at Gas+ locations. The advantage of earning Canadian Tire Money, as opposed to other rewards cards, is that you can spend it like cash at the participating stores. So, first you earn Canadian Tire Money on your groceries, then you use it to pay the bill.

On top of this saving on your household expenses, you’ll pay $0 in annual fees, get contactless payments for small purchases, and 24/7 online account management. Canadian Tire Money doesn’t expire as long as your account is open.

It’s important to note that once you reach $12,000 in qualifying purchases, your earn rate will drop to 1%. Additionally, certain stores including Wal-Mart, Costco, and Wal-Mart Superstore aren’t included as ‘grocery’ stores for the purposes of your 3% earn rate.

Apply for the CTFS Triangle World Elite Mastercard

Best Credit Card for Family Travel

Starwood Preferred Guest Card

The Starwood Preferred Guest Credit Card from American Express

Earning points on the Starwood Preferred Guest Card is easy. You’ll get a $250 in statement credits for charging $1,500 during the first three months of card ownership, and $200 on Starwood or Mariott properties purchases which isn’t hard for families! There are no blackout dates for booking rooms with your Starpoints.

What’s more, cardholders who spend $40,000 or more per year using their Starwood Preferred Guest Card get a free weekend night in any hotel up to category 4. It’s a nice reward for a romantic getaway without the kids.

The regular earnings rate of 2 Starpoints for every $1 spent at participating Starwood hotels helps your Starpoints accumulate quickly, as long as you choose lodgings wisely when you travel. Starwood is owned by Marriott, so the network of hotels that earn double points is very wide: Marriott, Westin, Sheraton, W Hotels, St. Regis, etc.

APR for the Starwood Preferred Guest Card is 19.99%, the annual fee is $120, and there’s no minimum income requirement to be eligible, although you do need good to excellent credit. There are no fees for supplementary cards.

For more travel categories, visit our Best Travel Credit Card Rankings in Canada page.

Popular Cards

Best Credit Card for No Foreign Transaction Fees

Rogers Platinum MasterCard

Rogers™ Platinum Mastercard®

While some savvy travellers save money with credit cards that earn air miles, points, and free hotel stays, others save by avoiding the bane of every Canadian traveller’s existence: the Foreign Transaction Fee. Foreign transaction fees are the extra charges that credit cards place on every purchase made in a foreign currency. The fees are typically around 2.5% of each transaction, which add up to quite a bundle over the course of a vacation or business trip.

Although the Rogers Platinum Mastercard does charge foreign transaction fees, it’s still worth a mention in this category thanks to its unusual 3% cashback rewards offer on purchases in a foreign currency. So, yes, you’ll have to pay foreign transaction fees on your travel purchases, but you will also earn more than those fees in cashback rewards. 3% cashback rewards – 2.5% foreign transaction fee = 0.5% net cashback rewards.

Home Trust Preferred Card

Home Trust Preferred VISA Light

At the moment, the Home Trust Preferred Card is one of the select few cards in the Canadian market that waives foreign transaction fees altogether. Canadians used to have the choice of Chase’s Amazon and Marriott cards too, but those were recently cancelled. The Home Trust Preferred is an attractive card for anyone with a minimum personal income of $15,000 and a fair to good credit score. As well as zero foreign transaction fees, it has no annual fee, 1% unlimited cashback (including on purchases overseas), free roadside assistance, purchase protection, and rental car damage and collision insurance. Average APR is 19.99%.

Though the net cash back on foreign currency purchases is higher with the Home Trust Preferred card than it it is with the Rogers Platinum, the Home Trust Preferred does have some notable limitations. Home Trust currently limits cardholders to 10 transactions per day and the card is not available to Quebec residents.

In addition to the above two no annual fee cards which either waive or subsidize foreign transaction fees, we also would like to highlight a more premium travel card that waives foreign transaction fees as well.

Scotiabank Passport Visa Infinite Card

Scotia Passport Visa InfiniteFrequent travellers will appreciate the Scotiabank Passport Visa Infinite‘s complete exemption from any foreign currency transaction fees. Paying no fees on purchases saves a lot of money during a trip, but the card’s benefits also extend to travel amenities. The Passport Visa Infinite grants travellers a Priority Pass to airport lounges worldwide, which gives access at around half the price that non-members pay (around $14 per person). Cardholders often end up paying nothing, given that the card also provides 6 free lounge passes each year.

Though the annual fee is $139, which is more expensive than the free Rogers Platinum Mastercard and Home Trust Preferred card, the Scotia Passport’s features outperform each as well. For $139, you gain complete exemption from foreign transaction fees (not merely cash back like with Rogers), the ability to earn Scotia Rewards (2 per $1 spent on grocery, dining, and entertainment) and the VIP airport lounge status and passes. You’ll also gain great insurance benefits like travel medical, trip interruption and cancellation, and rental car coverage. The icing on the cake is an introductory bonus of 25,000 points for spending just $1,000 during your first 3 months as a cardholder.

Click here to learn more about Foreign Transaction Fees and how to avoid them.

Best Credit Card for People With Credit Card Debt

MBNA Platinum Plus Mastercard

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 loan.

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.

You can learn more about reducing credit card debt with balance transfer cards via our Best 0% Balance Transfer Credit Card Offers in Canada page

Best Credit Card to Repair or Establish Credit

The Refresh Financial Secured Visa

refresh financial visaAs one of the best credit cards for bad credit in Canada, Refresh Financial’s Secured Visa offers purchasing power and the ability to improve one’s credit score, no matter how deeply it has fallen. Those with bad credit, no credit, or a history of bankruptcy and consumer proposals are all eligible to sign up and receive approval. The only requirement is a security deposit, which also matches the credit limit assigned to you by Refresh.

A nice part about the Refresh Financial Secured card is that its minimum security deposit is lower than most other secured cards. At just $200, it’s easy to afford, thereby lowering the barrier to entry even further. The maximum deposit is $10,000. With a secured card, cardholders can rebuild or establish a good credit score faster, because their repayment behavior is reported more frequently to credit bureaus like Equifax and TransUnion.

Once your credit score is improved, be sure to pay off the card in full to receive your security deposit back.

Visit our Best Credit Cards for Bad Credit page and find more options to repair your credit.

Best Promotional Offer

TD Cash Back Visa Infinite
NEW OFFER!

TD Cash Back Visa InfiniteThe TD Cash Back Visa Infinite card is a relatively new offering that has managed to fly under the radar until now. But its new introductory bonus might make it very popular: customers who sign up by June 3rd, 2018 accrue an industry-leading 9% cash back on selected purchases (on up to $3,500 of total spend).

After the promotional period ends, 1% is earned on all purchases made with the card. That figure jumps to 3% on eligible gas, groceries, and recurring payments set up with your account (like bills). TD offers a flexible way to redeem the cash back. Instead of waiting a full year to access the cash back they collected, cardholders can redeem their rewards at any time to pay down existing balances.

TD’s Cash Back Visa Infinite card also includes free around-the-clock concierge and roadside assistance services, access to Food and Wine Experiences, as well as perks at over 900 top hotels around the world.

*Minimal income requirement: $60,000 personal or $100,000 household annual income.

Best Credit Card for Insurance Coverage

The BMO® World Elite™ Mastercard®

BMO World Elite Cash Back CardThe 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 cardholders are also exempt from the first year’s annual fee (limited time offer), receive a welcome bonus of 35,000 points, earn rewards at a lucrative 2 points per $1 on all eligible purchases, 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®

Read more on Best Travel Insurance Credit Cards.

Best Credit Card If You’re A Student

BMO SPC Mastercard

BMO SPC CashBack MastercardGetting your 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 great perks,  like 10-15% discounts at hundreds of retailers across Canada 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 4% cash back on all eligible purchases in the first 4 months, and the no fee Air Miles card comes with a 500 Air Miles welcome bonus!

Picking the Right Companion for Your Wallet

Identifying your spending habits and unique credit card needs is crucial to narrowing down a final choice. If you’re still scratching your head, use the GreedyRates Best Credit Cards Canada Comparison Tool. After you input your unique criteria and preferences, as well as your common purchasing patterns, the tool will curate a list of cards which are suited to you personally.

Getting the best credit card is a simple matter, regardless of which card perks you desire most. Cash back, travel rewards, accelerated credit improvement and other benefits are only as powerful as their relevance to any single cardholder. Thankfully, it’s easier than ever to find the best options available on GreedyRates. If you need any further assistance when making an ultimate decision, feel free to contact us by email and we’ll give you a helping hand.

Learn more about Canada’s Best Student Credit Cards for 2018.

Article comments

171 comments
Jasmine says:

Hi! I wonder if you guys would be able to help me out: I’m a 22 y/o making 40K, with minimal fixed expenses (live with roommates, take the bus kind of deal) and my current “starter” credit card is the RBC Cashback Mastercard. I don’t often carry a balance. I’m hoping to find the right travel rewards card for my situation, any recommendations?

GreedyRates says:

Hi Jasmine! Thanks for your request for a credit card recommendation—we’d be happy to help. If you’re interested in travel rewards and don’t often carry a balance (nice job by the way!) then we have a couple suggestions. Ideally, these would replace the RBC Cash Back card you currently have.

Our first recommendation is the BMO Air Miles Mastercard. You’re already qualified based on your annual income, and what we assume is good credit. With this card you automatically get 500 Miles just for making an initial purchase. Then, you’ll earn 1 Mile for every $20 you spend with the card, with Miles redeemable for flights from the most popular travel rewards program in Canada. Also appreciated is purchase protection, extended warranty benefits, and accelerated rewards with Air Miles sponsors in Canada, like Shell. You can learn more about the card by reading our full BMO Air Miles Mastercard review.

Another card we like is the American Express Gold Rewards card. If you spend $1,500 in your first three months, you’ll get 25,000 points, and in the meantime will earn 2 points for every $1 spent on travel and 1 point per $1 spent elsewhere. It is an Amex and a charge card, but also the most flexible tool for travel on the market. You can book whatever travel arrangements you want, and then once they show up on your statement, pay for them retroactively with the points you’ve collected. Learn more about the card by reading our full American Express Gold Rewards card review.

GreedyRates Staff

S B says:

Hi guys, great website. Looking for a new everyday credit card and hesitating between the Scotia Momentum VISA or BMO World Elite Mastercard. Help?!

GreedyRates says:

Hey SB, thanks for the request to compare cards. We’ll happily highlight the pros and cons of each to help you make a decision. To begin, you’ll have to determine which categories you spend the most money on, because the Scotia card earns on gas and groceries and the BMO World Elite on travel, dining, and entertainment. Most people will find that they spend more on groceries, but if you eat out a lot and like to spend money at movie theaters, the BMO card might be better. It also earns money back on travel expenses, which aligns well with the card’s reward and redemption model.

New cardholders will get their annual fee rebated by Scotia and by BMO, though after the first year, Scotia’s $99 fee will be easier to pay than BMO’s $150. However, BMO sweetens the deal by offering an introductory bonus of 35,000 points, whereas Scotia has no promotion. Also different between the cards is the kind of rewards you’ll earn. Scotia rewards you cash back, which can be used against your balance, while World Elite cards provide travel-related rewards, so it’s pretty subjective.

Both cards offer some excellent travel insurance perks, so there are almost no differences on this front. In our opinion BMO squeaks ahead, however, due to the inclusion of 4 free VIP airport lounge passes each year. In the end, it’s up to you, but you can’t go wrong either way. We recommend you read both our Scotia Momentum Visa card review and BMO World Elite Mastercard review to compare the cards directly before making a final decision.

GreedyRates Staff

Carlos says:

Hello I have a poor credit my score is very low I have a credit card with a caliyal one I want to apply for another card which could be for me

GreedyRates says:

Hi Carlos, thanks for coming to GreedyRates with your question. We’d be happy to make some suggestions that don’t require a very high credit score. If you’ve already been approved for an unsecured card from Capital One (or is it secured? Please let us know) then your chances are much higher for getting one from another bank.

If your credit isn’t good, then you might want to improve it before trying for a second credit card. In pursuit of this goal, get a secured credit card (or a second one if your Capital One card is secured) and begin using it responsibly each month. If you’d like to let us know via email what your credit score is, we’d be happy to make more precise suggestions.

GreedyRates Staff

johnny b says:

Hi…just to let you know of the major changes for the SPG amex for Canadians…First as of today it is now offering a 100$ credit for 1500$ spent in the first 3 months and a 150$ credit at Marriott/spg properties in the first 6 months..no spg bonus points now of upt to 25k spg points bonus so in essence more than half of the bonus value is gone…on top this spg will only offer 1.1 rating with Marriott merger as of august 1st instead of the 1spg/3MR until july 31st so in essence a devalue of 66% after august 1st 2018.There is no other benefits and the yearly fee has stayed the same with no other added perks..I think this card is not a top card anymore…worst us Canadians have just lost the Marriott rewards visa which was a lot better than this amex spg card which half businesses don’t accept as a payment option..

GreedyRates says:

Hey Johnny, thanks for the comment. We’re also aware of the changes that Starwood Preferred Guest made to their card program recently, and have outlined all of the changes in the article linked below. While the immediate alterations to point redemption, status tiers, introductory bonus and more are disappointing, we’ve already been assured by Marriott that it’s temporary.

In anticipation of SPG, Marriott, and Ritz-Carlton Rewards merging into one loyalty rewards program, the group has reduced its benefits. However, we fully expect them to make updates that boost the card past its current position. Things like the welcome bonus will likely change, we just need to wait for these entities to sort it out. Keep an eye on the card as the year progresses, as we are, to see what further changes arrive and how it impacts the card’s value proposition. We’re excited! Thanks.

https://www.greedyrates.ca/blog/starwood-preferred-guest-marriott-rewards-merging-means/

GreedyRates Staff

Chrissy says:

We are looking for travel insurance of up to 48 or 60 days on a credit card if possible or the choice to purchase top up . We are a couple aged 61 and 62 most cards stop this coverage at 60 and the most we can find is 31 days. Any suggestions would be most helpful thank you .

GreedyRates says:

Hi Chrissy, thanks for coming to GreedyRates. We’re happy that you and your partner will be travelling soon, and understand your need for comprehensive travel insurance coverage. Unfortunately, for a couple aged 60+, the best you’ll find as a default is 31 days of consecutive coverage. Two cards that we love offer this–the National Bank World Elite card and the Desjardins Visa Odyssey Gold card. With both of these credit cards, it’s possible to call ahead of time and purchase coverage extensions for your trip. It will cost extra, obviously, but one cannot put a price on their health. Make sure you leave enough time before your departure when ordering additional insurance.

We can’t compare the price of insurance extensions between National Bank and Desjardins, but they’re likely similar. If it makes a difference, the perks between the two cards also vary, so you can take a look at the chart we’ve linked below for a closer look. For instance, the Desjardins card has unlimited travel interruption insurance, which could be useful in certain circumstances. It also has travel accident coverage, whereas the National Bank World Elite card does not. Take a look and let us know what you think!

https://www.greedyrates.ca/blog/best-travel-credit-card-canada/

GreedyRates Staff

Robert Scalamogna says:

Amex Gold Rewards vs TD First Class Infinite Which one???
Td offers trip cancelation, interuption and travel medical insurance and the Amex doesn’t. So why is the Gold Amex rated better??

GreedyRates says:

Hey Robert, thanks for coming to GreedyRates with your question. We can happily compare the two cards you’ve mentioned, and can explain why we’ve ranked the Amex Gold the higher of the two. The TD First Class Infinite card is great for those who like to use Expedia for booking their travel arrangements, but the Amex card is much more flexible. In fact, an Amex Gold cardholder can book hotels, cruises, flights and other travel arrangements anywhere, and then pay for them with points later. Those who want a greater choice of airlines, destinations, or seat availability will appreciate it for this purpose. Additionally, it has a low personal income requirement, whereas TD requires applicants to show at least $60,000 annually.

It seems like your criteria place more emphasis on travel insurance rather than other perks, which is totally fine. If you want the same relative degree of redemption flexibility but better insurance, we’d agree with you: the TD card is better than Amex.

If you want to do a deep dive comparison of the two cards, we encourage you to check out both our American Express Gold Rewards card review and our TD First Class Travel Visa Infinite card review. Good luck!

GreedyRates Staff

H R says:

Thanks for the great article.

For the last few years, I used to rely on the American Express Platinum card; primarilyfor travel insurance and some perks. Last year in May, I swtiched to the Desjardins Odyssey Infinite Privilege Visa. The Desjardins card seemed more valuable to me as it gave me a 2.4% return on first 50K spend (and 2% after) and had much better insurance. I had to give up the lounge access (Desjardins has 6 visits vs. Amex unlimited), but the additional benefit i get from lower fees ($295) and additional cashback made it an easy decision.

My question is that is there any other options in Canada that i should be comparing this to? I would value the no foreign exchange fee and some more lounge visits.

Thanks,

GreedyRates says:

Hi H R, we appreciate your comments. The Amex Platinum card is usually considered one of the best cards to travel with due to its flexible point redemption and luxurious perks, but if you focus more on insurance and fees you can do better. We’re glad you found the Desjardins card and believe that you shouldn’t get rid of it because the all-in-one credit card that you’re searching for doesn’t exist. To our knowledge there isn’t a Canadian card that has both lounge visits and foreign transaction fee exemption, so you’ll need to supplement your Desjardins card with one or the other.

For escaping foreign transaction fees, we recommend that you check out the Home Trust Preferred card. It doesn’t impose any foreign transaction fees or annual fee, and also provides 1.00% cash back on all purchases. The Rogers Platinum Mastercard is also recommended for using while abroad, as you will incur foreign fees but also get 3.00% cash back on top (a net gain of 0.50%). Keep in mind that currently Home Trust has a huge inundation of card applications and is taking a very long time to administer cards. If you’re in a rush you might want to go with the Rogers card instead. You can learn more by reading both our Home Trust Preferred card review and our Rogers Platinum Mastercard review.

If you only want two credit cards and can live with foreign transaction fees, then you might enjoy the BMO World Elite Mastercard. Though it does have an annual fee of $150, it gives you 4 free airport lounge passes every year, which have a $200 total value. Let us know what you’re thinking and feel free to request additional suggestions! Thanks.

GreedyRates Staff

Nancy says:

I could use some advice in considering a new credit card for someone with a reasonable income but limited spending. I have an $89K salary and travel internationally about 2X per year, but my biggest expense is typically the flight and often a group tour. I travel frugally and don’t stay in luxury hotels or rent vehicles. I have travel (medical) insurance through work, but I don’t believe that covers cancellation or baggage (I have never needed them). My domestic expenses are about $1,500 per month. My inclination has always been to go for no-fee or low-fee cards since I don’t spend enough to accumulate many points, but should I reconsider, knowing that my income allows me to apply for cards with higher returns?

GreedyRates says:

Hi Nancy, thanks for the descriptive comment! We’d be happy to make some suggestions based on your spending and travel habits. If international flights are your biggest expense, but you also spend $1,500 per month when home, you’ll want a card that benefits both categories. The best cards are those with relatively hefty annual fees. We know you want to avoid paying them, but cards like these often help you boost your annual savings beyond even the steepest fee.

However, our first suggestion is already fee-less, at least for the first year. The BMO World Elite Mastercard exempts new members from paying its $150 annual fee for the first year they have the card, and then gives them the ability to earn points on their most common expenses. You specifically will like the fact that your earnings rate is accelerated to 3 points per $1 on travel, dining, and entertainment, meaning that you’ll earn more points for those multiple annual flights. Additionally, you receive 2 points per $1 spent everywhere else, and can also choose any airline you like when redeeming points–which is useful for your international trips. To cap it all off, you can enjoy 4 free airport lounge visits per year (both ways on your two trips!) and are qualified to apply given that your annual income exceeds $80,000. You can learn more about the card by reading our full BMO World Elite Mastercard review.

You might also want to consider a credit card that eliminates or subsidizes foreign transaction fees, especially if you travel internationally multiple times each year. Your expenses abroad add up faster when 2.50% fees are tacked on, so to avoid these, pick up a card like the Rogers Platinum Mastercard. If you want info on either of these options, leave another comment or read up about them on our site. Thanks again!

GreedyRates Staff

Nancy says:

I appreciate your recommendation! One question about my main concern with points cards – is there any flexibility with how you book your flights? My current card with RBC offers me any flights, but they are so much more expensive than through other booking sites it’s not worth to spend my points that way.

Katy says:

This is a great question, I am looking into travel cards and work for a bank as well, so I have the advantage of no fees for all cards within my bank (National Bank) however, I would hate to be stuck with a travel card that forces you to choose between hiked flight prices, as a means to using your points. Looking forward to seeing this question answered.

GreedyRates says:

Hi Nancy, welcome back! You’re right, credit card companies could do a lot more to make airfare cheaper when redeeming rewards points. Imagine if there was a credit card that accrued points that were each worth the equivalent of a dollar, instead of one-tenth of a dollar, for example. Then imagine that they offered a booking tool where plane flights were the same price as on major aggregate websites like Kayak, Expedia, or even the airline’s own site. You’d be able to get what are essentially free flights every month, just through your everyday purchases. It would be like a cash back card that offers 50.00% cash back, or something equally unfeasible.

These don’t exist simply because it would bankrupt even the largest, wealthiest international banks in the world. Instead, credit cards allow you to slowly save up for perhaps one or two flights per year, or get a reasonable percentage of your money back, depending on your spending habits and which card you choose. When you say that this model isn’t worth your time, you might be right, but you won’t find the redemption rate any better when you spend your points on gift cards, hotels, or merchandise.

Our suggestion: if you don’t like the RBC card, choose something that doesn’t make you purchase through a specific booking portal. The Gold Amex Rewards card, for example, accrues points everywhere and allows you to redeem them retroactively after you’ve already booked your travel arrangements (wherever you want).

You can learn more about that card by reading our full American Express Gold Rewards card review.

GreedyRates Staff

Dave says:

I have a regular Amex card which I got after refinancing and consolidating my debt 7 years ago. It was the only one I was eligible for after paying off my card debt via home refinancing. I’m glad I did that, but I’d like to get rid of it because Amex is a huge pain to deal with, and their card is not accepted everywhere. I’d like to get a unsecured Mastercard instead for emergencies. Annual household income is $110k, but my credit scores are still not great. Equifax is 656 (‘Below Average) and TU is 652 (‘Good’). I pay my bills on time now, and have done for several years. What’s my best option?

GreedyRates says:

Hi Dave. Congratulations on getting your debt under control. If you want an unsecured Mastercard to replace the Amex with, we’d be happy to recommend some great choices. Also, note that your credit score isn’t bad, and is enough to make you eligible for most cards.

For a more travel-centric credit card, check out the BMO World Elite Mastercard. This will welcome you with a large 35,000-point bonus for spending $3,000 during the first three months and then grant you an accelerated earn rate of 3 points per $1 spent on travel, dining, and entertainment. You’ll receive 2 points per $1 spent everywhere else, and will be able to redeem them on any airfare you like. Moreover, you’re exempt from the first year’s annual fee of $150 and will receive 4 free passes to luxury airport lounges each year, which is a $200 value. You can learn more about the card by reading our full BMO World Elite Mastercard review.

Another suggestion we have for you helps earn cash back primarily, though it’s not a Mastercard. The TD Cash Back Visa Infinite card has a credit score requirement ranging in the 600s, an income requirement of just $60,000, and offers you an introductory cash back rate of 9.00% for 3 months on gas, groceries, and recurring bills (you just need to apply by June 3rd to get that deal). Afterwards, you’ll permanently earn 3.00% on these purchase categories, and 1.00% on everything else. You’ll be able to redeem the cash back whenever you like, and also have some beneficial auxiliary perks like emergency road services and travel medical insurance. You can learn more about the card by reading our full TD Cash Back Visa Infinite card review.

Let us know your thoughts and thanks for reading!

GreedyRates Staff

LvH says:

Hi, I am just finishing my education degree and planning to move to London, England in a teaching job this fall; currently have a student credit card and will be looking to get a new one this summer… looking to do some travel while living in London….. what card do you recommend….

GreedyRates says:

Hey LvH, we appreciate your great question. London is a great hub for travelling the rest of Europe, but it’s also an expensive city, so you’ll want a credit card that can reduce your costs and pay for some of your travels abroad. However, you should realize that all your purchases over there will incur 2.50% foreign transaction fees if they’re made with a Canadian dollar-denominated credit card. This would erase most of the benefits you would’ve had otherwise, so might we suggest a card that negates these fees?

The Home Trust Preferred card is the best for the job, as it charges 0.00% on foreign transactions and then applies 1.00% cash back on top, which you can credit to your card statement. There’s also no annual fee. There are a few downsides to that card though: currently Home Trust is inundated with card applications, and they’re taking a really long time to process applications and send cards to approved applicants. Also, the Home Trust Preferred card has a limit of 10 transactions per day.

An alternative to the Home Trust Preferred card is the Rogers Platinum Mastercard. It doesn’t waive foreign transaction fees per se, but it does subsidize them by providing 3% cash back on all purchases in a foreign currency. This covers the 2.5% foreign transaction fee and then some. Unlike the Home Trust card, the Rogers card does not limit the number of daily transactions. You can learn more by comparing the two cards side by side: read both our Home Trust Preferred card review and Rogers Platinum Mastercard review.

Alternatively, you could opt for a card like the Amex Air Miles credit card, but you’ll take a hit on foreign fees, there’s no guarantee that flights will be available from London, and it costs an annual fee. Think about it and let us know what you decide. Good luck and safe travels!

GreedyRates Staff

LvH says:

Thanks, will do

Jam B says:

Great article but as many on here I feel like my situation’s a little unique. I’m an independent contractor and I’ve been using my personal rbc silver visa for every purchase. I supply specialty ingredients to various other small businesses. I am also on the road 24/7 and pay for my cellphone, internet, insurance, any anything else to do with the business. I don’t have a business banking account since I’m not incorporated and most of my fees come as consulting and margins on supplies. What do you folks suggest?
Thanks!

GreedyRates says:

Hi Jam, thanks for your interesting comment. If you’re a consultant with no business accreditation, you can still benefit from many great business-centric credit cards. While those like the American Express for Business card won’t be suitable due to its requirement that you buy from Amex partner merchants, a card like the BMO Rewards Business Mastercard would work well. It’s available to sole proprietorships and also unincorporated ventures like yourself.

With the BMO card, you’ll earn 3 BMO points per $1 spent on the expenses you mentioned were common–gas, cell phone, and internet bills. You’ll also receive 35,000 points as an introductory bonus if you can spend $5,000 within the first 3 months. On all other expenses, you’ll be awarded 1.5 points per $1. While the annual fee is $120, if you spend just $475 per month on the card, you’ll easily offset it.

You can learn more about the card by reading our complete BMO Rewards Business Mastercard review.

GreedyRates Staff

LJ says:

Am in process of rebuilding my credit after several bad years,my score with transunion shows good. I have a capital one gold card,I would like to get a card that offers more benefits. I earn 55k and so does my wife. We usually take two trips a year.we buy everything else with our debit card, but would use a credit card, if the rewards were good,any suggestions.thanks

GreedyRates says:

Hi LJ, thanks for your great comment. We’re impressed with the work that you and your wife have put in, and are happy to provide a couple of rewards card suggestions. With a good credit score and combined income of $110,000, you two are eligible for some solid credit cards, all of which are a step above the secured Capital One card you have now. The first one we’ll suggest is the Starwood Preferred Guest card, which earns Starpoints that are redeemable on nice hotel rooms around the world. You can also transfer the points to Marriott or to over 150 airline rewards programs. After spending just $1,500 in the first three months, you’ll receive 20,000 Starpoints as a bonus, and have the chance to upgrade your status (and perks) to Gold and then Platinum depending on your yearly expenditures with the card. You can learn more about the card by reading our full Starwood Preferred Guest Card review.

The BMO Air Miles World Elite card is also one of the best if you like to travel. Instead of hotel upgrades with some air travel benefits, this card is more concerned with flying than the SPG card above. You’ll earn 1 mile for every $10 spent, a bonus of up to 3,000 miles, and then an extra 15% off all Air Miles flights in North America. Additionally, you and your wife will love visiting VIP airport lounges during your travels. You can learn more details by reading our full BMO Air Miles World Elite card review.

If you want to provide some extra criteria to help focus our suggestions, let us know!

GreedyRates Staff

LJ says:

Thanks for your reply. The travel rewards are great,but what about everyday purchases like food,gas,etc.I pay all my bills through my bank with their online banking. I am thinking if I use a credit card, I would earn rewards,what’s your thoughts on this. Thanks

JOHN says:

what is it with those credit cards asking for a minimum salary of $60,000 single / $ 120,000 married.
do they think that retired people with income under $ 120,000 (married ) are a bad risk specially
when their credit scores runs around 800 and can show sizeable assets… this is DISCRIMINATION !!!

GreedyRates says:

Hi John, thanks for leaving your comment. We understand your frustration. If you’re retired and don’t have salaries, then high income requirements for a credit card might seem unfair. However, when considering an applicant, the bank takes a flexible look at their whole financial situation and not just income. For retirees, they’ll account for total asset value and net worth, pensions, investments and dividends, and social benefits as well. Most card issuers understand that retirees don’t need a steady income to be able to pay their balance. With an excellent credit score like yours, we think you have a good chance at skirting the income requirements for most credit cards, but advise you to call customer service and inquire before your application. Thanks for reading!

GreedyRates Staff

Steve S. says:

Thanks for putting together such a great website and saving me a lot of time trying to figure out what card best suited my needs. I have had the Canadian Tire Card Mastercard for seven years now but they’ve pulled some sneaky tricks on me lately (which I can prove–it’s not just an emotional reaction) and knew that our relationship had come to an end but wanted a new card first. Hometrust here I go!

GreedyRates says:

Hi Steve, thanks for leaving a comment, and for your appreciation as well. We’re happy to help! If you’re not a fan of the Canadian Tire Mastercard, tell us why and we’d be happy to confirm and incorporate it into our reviews.

We’re glad you’re going for the Home Trust card, though you should know that they’re currently being bombarded with applications and might take longer than normal to respond. Have you considered the Rogers Platinum Mastercard? Home Trust offers a great card, but it does have its drawbacks. If you’re looking for a card that defrays foreign transaction fees, the Rogers card provides 3% cash back on purchases in a foreign currency, which more than makes up for its 2.5% foreign transaction fee. And unlike the Home Trust card it doesn’t limit the number of daily transactions.
Just making a suggestion–don’t let us stop you from choosing the card that’s best for you.

If you want to learn more about those two cards you can read our complete Home Trust Preferred Card review and our Rogers Platinum Mastercard review. Good luck!

GreedyRates Staff

chaya says:

hi greedy,
thanks for all the great info. you really helped me out with getting a new “no foreign transaction fee” now that chase is pulling out.
I have a question regarding cards (not necc for foreign transactions)
I will be making a big purchase in coming months to pay for professional fees and last year i did it on my basic card but i am thinking ahead this time and want to get a card that has a “minimum amount to spend to get welcome points”. I looked at the American Express Gold Rewards Card, but considering that aeroplan is running out in 2 years, i dont want to stock up on aeroplan miles….
is there any other good option that gives bonus points with purchases in first 3 months etc?
i make about 40$, not a student, i already paid for out of province medical insurance for the year and have an american cc for my flights that have travel insurance. and i live in quebec…
Thanks so much

GreedyRates says:

Hey Chaya, thanks for showing us some love! We’re glad to have helped you find a suitable card. You’ll enjoy travelling without those pesky foreign transaction fees. To address your inquiry about a credit card that requires a certain amount of spending to receive a bonus, there are a couple options we’ll float by you. To complement your travels, one suitable card might be the Starwood Preferred Guest card, which requires you to spend $1,500 in the first three months. The bonus for doing so is 20,000 Starpoints, which can be used to book nights at nice hotels around the world. You can also transfer the points to almost any other travel rewards program. You can learn more about the card by reading our full Starwood Preferred Guest card review.

Another ideal card for you may be the American Express Cobalt card, which collects up to 30,000 points in the first year for reaching monthly spending of at least $500. Though it doesn’t frontload rewards as well as some other cards, it has a high rate of rewards on a broad variety of purchase categories. Eating and drinking out, entertainment and events, and many other lifestyle expenses are covered. Let us know if you’d like more suggestions–otherwise, check out the page below. The top two cards (BMO Air Miles World Elite and Scotiabank Gold Amex) both have large introductory bonuses with conditional spending, but only the latter has an annual income requirement that matches your situation.

https://www.greedyrates.ca/cards/rewards-credit-cards/

Nick says:

Hi Greedy,
How about NationalBank World Elite Mastercard. It looks to me the insurance coverage is better than BMO World Elite Mastercard? For example, NationalBank has trip cancellation coverage of up to $2,500 per person with no cap amount per account and even though BMO has the same coverage up to $2,500 per person but it has a cap of $5,000 per account. Trip interruption, up to $5,000 per person vs $2,000. Flight delay, over 4 hours for up to $500 per person vs over 6 hours for up to $500. Baggage insurance in case of theft/loss, up to $1,000 per person vs up to $750 and up to $2,000 per account.

GreedyRates says:

Hi Nick! We’d be happy to do a brief comparison of these two cards’ insurance benefits for you. Categories where the benefits are the exact same are left out.

To begin, let’s look at the BMO World Elite’s travel insurance specifics:
– 21 days of medical coverage
– $2,000/$5,000 of personal/group trip cancellation coverage
– $2,000 of personal trip interruption coverage
– $750/$2,000 of personal/group lost luggage coverage
– $500,000 of travel accident coverage
– 3,000-point sign up bonus

Now, the National Bank World Elite Mastercard:
– 60 days of medical coverage
– $2,500 of personal trip cancellation coverage
– $5,000 of personal trip interruption coverage
– $1,000 of personal lost luggage coverage, with no group maximum
– $0 travel accident coverage
– 0 point sign up bonus

Essentially, in terms of medical coverage length, trip cancellation, trip interruption, and lost luggage coverage, the National Bank card is better. However, it has no travel accident coverage and no sign-up bonus. If insurance is what you value most, then National Bank card is probably the way to go, leading us to agree with your original assessment. You can do a better comparison of different cards’ travel insurance benefits on the page below. Good luck!

https://www.greedyrates.ca/blog/free-travel-insurance-credit-card/

Nick says:

Hi Greedy,
You are correct, insurance is what I value most so National Bank is the way to go for me, the problem is: it required $80K minimal income which makes me not qualified. It look like Desjardins Oddysey Gold is my best choice? Can you suggest any other card? Preferably Mastercard so I can use it at Costco but at the end of the day, insurance is what I value more than whether it is Mastercard.

Al says:

Hi Greedy,

After the recent changes to the BMO World Elite card (pts structure), I no longer think it is the best card for me. I spend around 5million annually on my card. I was looking at the AMEX Platinum but there has to be better option for larger spenders. I do not want a cashback card. Travel rewards are the best for me. Any thoughts?

GreedyRates says:

Hey Al. If you’re spending that kind of money on your card every year, you’re eligible for some of the best cards that any issuer has to offer. While the Platinum Amex is usually the height of convenience for travelers like yourself, you’ve already said you’d prefer something else. Remember, however, that if you demonstrate the kind of spending you’ve mentioned in your comment, Amex will likely invite you to their Centurion Club and offer you a Black card to replace the Platinum with. Another option you may appreciate is the TD Aeroplan Visa Infinite Privilege Card. You’ll be able to get 50,000 points right off the bat, plus 1.5 miles per dollar on gas, groceries and drugstores. Points also accrue at a rate of 1.25 per dollar everywhere else, and you’ll also get free checked bags, priority check-in and boarding, free passes to the Maple Leaf Lounge, a discounted yearly companion ticket, and double miles when shopping at the hundreds of various Aeroplan partner stores.

GreedyRates Staff

AM says:

How do you get the discounted yearly companion ticket for the TD Aeroplan card? I don’t see anything on the Aeroplan website that mentions this.

GreedyRates says:

Hi AM, thanks for your comment! We assume you’re referring to the TD Aeroplan Visa Infinite Privilege credit card. When you buy two eligible business class fares from Air Canada, you’ll get 50% off a companion ticket. This is only available once per year. To be eligible for this discount, you’ll need to buy three business fare tickets from Air Canada (booking classes J, C, and D only). Then, the primary cardholder will get 50% off the third fare. Stipulations include that the flight cannot be operated by another airline, even if the airline has a codesharing program with Air Canada. Additionally, you must book the tickets online at aircanada.com using the yearly promotional code, and then redeem the tickets before December 31st of the following year.

Keep an eye on your email and the post for word on what the yearly promotional code is. It might also be on your online Air Canada account, but you can always call customer service and ask for it, if all else fails. It might seem like quite a few hoops to jump through, but 50% off a business fare is a lot of potential savings. Thanks again.

GreedyRates Staff

iris cyr says:

i am with tangerine master card and i cant see that anywhere on the list to compare .

GreedyRates says:

Hi Iris. Thanks for coming to GreedyRates with your request. We’ve left the Tangerine card off this list after determining that it isn’t as strong as its peers, but we’d be happy to suggest an alternative for you. If the Tangerine card’s $0 annual fee and multiple 2.00% cash back categories seem beneficial to you, we’d suggest the Scotia Momentum Visa Infinite card instead. This one lets you earn 4.00% on gas and groceries, 2.00% on drugstore purchases and recurring bills, and then 1.00% everywhere else. It’s a big step up from the Tangerine card and it doesn’t impose an annual fee in the first year. The annual fee after that is $99, but its cash back rates can easily make up for that if gas and groceries are two of your primary expenditures.

The Scotia Momentum card also offers a 5.00% cash back introductory rate (up to $3,000 spending), thus sweetening the deal in our opinion. You can learn more by checking out our complete Scotia Momentum Infinite card review.

GreedyRates Staff

Irene says:

Hello, I’m looking for a cash back card and a card that has a great rate for travel and purchases in other countries. I currently have AMEX Air Miles and BMO Air Miles and have no use for Air Miles any longer. I spend around $17,000 and $20, 000 on the card yearly, each month paying off the balance. Expenses are about 80% grocery, gas, restaurant, shopping (both in Canada and USA(5%)) and the rest on travel (air, cruises, hotel). I don’t to pay yearly renewals if poss. or low renewal.

GreedyRates says:

Hey Irene, thanks for the descriptive question! We’d be glad to help. Since the majority of your expenses are for gas and groceries, you should probably get a card that maximizes your rewards for this category. The best to our knowledge is the TD Cash Back Visa Infinite card, which has a best-in-class introductory bonus of 6% cash back for 3 months, and then an equally impressive 3% on gas and groceries after. You also can enjoy 1% cash back on everything else, plus a rebate for your first year’s annual fee. It pretty much covers all your bases, even travel. The travel insurance on the card will be useful while you’re on the road. If you spend $15,000 on groceries yearly, that’s already a minimum of $450 cash back, not including the bonus or the fee savings.

You can get more details by reading our full TD Cash Back Visa Infinite Card review. Enjoy!

GreedyRates Staff

Melissa Gravelle says:

Hello, my Visa has just expired and I am wondering if you can help me by recommending the best choice for myself. Income of 50,000 or over 100,000 with hubby. Spend mostly on gas and grocery per year but also like to travel once per year. Thank you.

GreedyRates says:

Hi Melissa, thanks for coming to GreedyRates. We’ve done a little digging on your behalf and have come up with a couple suggestions that we think you’ll like. Generally, you want to go for the best credit card you can get with your annual household income, and because you’ve said that gas and groceries are a big expense, this all points to the TD Cash Back Visa Infinite card as highly relevant. You’ll earn 6.00% cash back on everything for the first three months (up to a maximum of $3,500), and then an impressive 3.00% on gas and groceries forever (plus 1.00% on everything else). It’ll allow you to save a lot of money on your frequent purchases, but also comes with excellent travel medical insurance for when you guys travel. You can learn more by reading our full TD Cash Back Visa Infinite card review.

For a card with a stronger value proposition for travelers, check out the RBC WestJet World Elite card. You’ll earn 1.50% rewards on all purchases, 2.00% on WestJet travel expenses, and have other awesome perks like a yearly companion voucher, free checked bags, premium insurance coverage and a nice $250 bonus. Check them both out and let us know if we can help in any other way. Thank you!

GreedyRates Staff

Veronica says:

Hello, I currently have the Amazon rewards Visa card. I got this card for U.S. shopping. Besides the rewards the card offered, this particular card did not charge the 2.5% conversion fee. As of March 2018, they will be closing this card. Very disappointed by this. Can you please suggest a Visa like this. Are there any other Visa cards that don’t charge the 2.5% conversion fee?

GreedyRates says:

Hey Veronica, thanks for coming to GreedyRates with your question. We’re glad you were able to enjoy the Amazon card while it was active, but like you we’re also bummed that it’s soon being discontinued. If you need a Visa card, the only one we know of that negates these foreign transaction fees is the Home Trust Preferred Visa. You can learn more by checking out our full Home Trust Preferred Visa review, or you can apply for the card directly via this link.

GreedyRates Staff

E says:

Actually there is a brand new Scotiabank Passport Visa Infinite card that you should look into. It’s very very new.

Perchy says:

If I get a MBNA 0% transfer card do I have to use transferred funds only for credit cards? I would like to pay line of credit or other debt.

Michael says:

Hi Perchy, thanks for your question. The MBNA Platinum Plus card wouldn’t be so great if it could only take on credit card debt, would it? Thankfully, lines of credit and other types of loans are eligible for the balance transfer bonus, so there’s nothing stopping you from getting the best deal out there. Good luck with your application!

Johnny says:

So if I had a LOC of 20,000 currently at 2.96% but it jumps to 6.5% in April, Could I transfer that balance to this CC and only pay 1% for the year instead of paying 6.5%?

GreedyRates says:

Hi Johnny, thanks for your great question. Most balance transfer cards don’t draw any lines between types of debt, so regardless of whether or not it’s a loan, line of credit or another credit card’s balance, you’re good to go. We think it’s smart given that your interest will soon be at 6.50%, and you can avoid this entirely by consolidating the whole balance under a different deal. The card you mentioned is great. The MBNA Platinum Plus is widely considered the best, though, as it offers 0.00% interest for a year instead of 1.00%. Good luck with your application!

GreedyRates Staff

AD says:

Hi Perchy, I’m a MBNA customer and what you can do as part of low interest offers is in addition to doing a funds balance transfer you are also able to transfer funds directly into your back account at the same low interest offers and that way you can use the funds the way you want.

Dave says:

I use my TD Visa Aeroplan a lot. Like $35000 per month. What would be the best card for me. I think most of these have reward caps on the cash back.

Michael says:

Hi Dave, thanks for your comment. We have a single suggestion in mind that will allow you to get the most rewards for your monthly spending and redeem them in the most flexible manner. The MBNA Rewards World Elite Mastercard has a higher annual income requirement ($80,000 individual or $150,000 household), but earns 2.0% cash back with no limits on what you purchase, nor on how much cash back can be accrued. These earnings don’t expire either, and can be redeemed in any way you like, even if you want MBNA to simply send you a check. You can learn more about the card by reading our full MBNA Rewards World Elite Mastercard review, or you can apply directly via this link. Check it out and let us know what you think.

GreedyRates Staff

Sean says:

Hi!
MBNA has a 0% Mastercard right now – transfer a balance and get 0% interest for 12 months with only a 1% fee.

I transferred from MBNA MC to BMO MC and now back to MBNA, so I’ll have had 0% interest on my balance transfers for 2.5 years when this deal expires.

With a little luck, BMO will have their 6 months, no interest on balance transfers back again next year, and I’ll keep saving. 🙂

RRRR says:

This is helpful. Thank you.

Wanted to get your views. I have a Scotia infinite momentum which I use for all groceries and gas (roughly $700 cash back a year) and I used to carry the amex platinum (1.25% return on an average 50k spend each year). I recently ditched the amex platinum as I didn’t see the return on the high annual fee. I decided to go for the Desjardins visa infinite privilege as I liked that it had slightly better insurance and coverage compared to other infinite privilege cards. Do you have input on another card that may have been better to replace the amex platinum with. Switching to the Desjardins was easy as I’m a Desjardins account holder so ultimately get 2.40% return on everything upto $50k spend and 2% after

GreedyRates says:

Hi RRRR, thanks for your comment.

We think you’ve illustrated real skill when it comes to pairing the best credit cards together, as we likely would have suggested a Desjardins card without further prompting. As a Desjardins customer it’s a suitable, yet expensive option, saving you just $100 off the $395 annual fee. While you’ll accrue a competitive 2.40% cash back and get some extra insurance coverage, the VIP lounge pass limits you to the Desjardins Lounge at the Montréal–Pierre Elliott Trudeau International Airport.

We might suggest a cheaper, more flexible travel card, so that purchases outside of gas and groceries can contribute to your savings as well. For starters, consider the BMO AIR MILES World Elite Mastercard. This Mastercard complements your current Visa and will award travel reward points on all purchases. You’ll receive a 3,000-point welcome bonus, free companion flight voucher annually, great insurance, and it has a price tag of just $120 (with the first year for free).

While we won’t wax poetic about it, another great suggestion is the Amex Starwood Preferred Guest card, aimed at those who love luxurious hotel stays.

Thanks again for dropping a line.

GreedyRates Staff

Pierre Conti says:

Actually, Desjardins Visa Infinite Privilège gives access to worldwide lounges, I used it in Seoul (South Korea) and ALL purchases gives 2% cash back + an additional 20% since I am a member (I became member to get there additional cash back 😉

Breanne says:

I am interested in switching credit cards in the near future. I have my eye on either the Scotia Bank Momentum Infinite Cash Back Visa ($99 annual fee) and their Scotia Momentum Cash Back Visa ($39 annual fee).
With regards to the categories for earning cash back (ie. Grocery, gas, etc) do you have to shop at certain vendors? Or only purchase specific products?
For example: If I shop at Superstore and I purchase a TV, clothes, etc as well as my groceries. Would I get cash back for the entire purchase or just the groceries?
I look forward to your insight – Thanks!

GreedyRates says:

Hi Breanne, thanks for coming to us with your questions.

We applaud your choice of Scotiabank and their nice selection of cards for gas and grocery benefits. To get these benefits when purchasing with either card, you must visit a “merchant which is classified in the Visa Inc. (Visa) network as Grocery Stores & Supermarkets, Service Stations (with or without ancillary services), and Automated Fuel Dispensers. Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by Visa in another manner, in which case this added benefit would not apply.”

This is what the fine print says, but we did a little extra research for you. The list of stores and stations that Visa includes in its network is enormous, and leaves you countless options for these purchases. You can see the full list here.

In just the grocery category alone, there are well over 50 stores you can shop at, including the biggest ones like Loblaw, Fresh St., Sobeys, Quality Foods and more. The products you buy here are usually not restricted by Visa classifications in practice, but a grocery store selling TVs may be another matter. In this case, we’d recommend calling a customer support person and asking before you buy. Best of luck!

GreedyRates Staff

Chris says:

Hi Greedy.

I recently signed up for and received a CIBC Visa infinite Aventura. Te itro. offer was 15,000 points which i received and first year fee of $120 rebated. However I didnt read the fine print which stated that if i had had this card before then i was not in line for the rebate. (I did have the card before and cancelled it about 15 months ago). I’m going to call and argue to see if i can still get the fee rebated..i have a lot of expense coming up so that i will be charging so that might help.

Any suggestions as potential strategy when i call?

GreedyRates says:

Thanks for reaching out, Chris! That does seem like a tricky situation, and one which only CIBC will be able to give you a definitive answer. While you could try to switch your CIBC-issued card, in this case the offer extends to all of their credit cards. You could mention the large volume of expenses you have coming up, which may help, but ultimately, it seems as though the decision will come down to the issuer. In any case, let us know the results so we can help you better in the future!

GreedyRates Staff

Ramez says:

Hi There,

My Income is 62k Im looking for a card with cash back reward I was interested by the Scotia Momentum Visa Infinite but I need a Master card so I can use it at Costco.
Do you have any suggestion for a Master card with the same rewards as the Scotia one, because it’s really good for me except that its a visa.

Its the first time for me here, so I dont know can you send me the answer on my email as well.

Thanks a lot

Hey Ramez, thanks for your comment! For cash back cards at your level of income, we can highly recommend the Rogers Platinum card as a suitable Mastercard for you. Those who shop at Costco will earn the card’s all-purpose cash back rate of 1.75%. This applies wherever you shop, actually, but is a very competitive rewards rate among other Canadian cards. As a bonus, you’ll also earn 4.00% on purchases made abroad, in places where your purchases are in a foreign currency, like America or Europe. Take a look at it here: https://www.greedyrates.ca/blog/rogers-platinum-mastercard-credit-card-review/

Let us know what you think. We’re happy to make other suggestions if you like. Thanks again!

Stephen says:

Hey
I’m hoping for your input.
I’ve currently got a RBC infinite avion Visa card. It’s up for renewal and I would like to find something better, considering it’s costing me 130$ a year.
I do travel and like the travel insurance the card gives me.
I make 200k so I’m wondering if there’s a better card for me, and will give me more bang for my buck, especially one that gives me better travel perks.
Thank you
Stephen

GreedyRates says:

Hey Stephen, thanks for your comment. It’s true, the RBC Visa Infinite Avion is a premium card, aimed largely at those with your level of yearly income. Generally, though the annual fee is higher, rewards cards like the Avion enable members to earn and save at a more advanced rate. This notion works in the opposite direction as well, so those looking for the best travel perks will often have trouble finding them in low-fee cards. However, we’d be happy to suggest some.

If you like robust travel insurance and the flexibility to redeem points with any travel provider, check out the Scotiabank Gold Amex card. It’s a bit cheaper at $99 per year (with the first year’s fee waived), and offers you a high rate of rewards when buying gas, groceries, dining out or on entertainment expenses. You’ll also get Scotia’s generous bonus of 30,000 points when you sign up, but be aware that you’ll need to sign up before October 31st, 2017.

You might also check out the RBC WestJet World Elite MasterCard, if AmEx isn’t your thing. The card has some excellent travel perks like a free companion voucher, $250 bonus, free checked bags and more – but you’ll be more restricted when redeeming points on travel.

GreedyRates Staff

tee says:

Hello! I am currently looking for a new cc for my purchases! I currently have the coast capital Modulo Gold that I use for food, gas, shopping and when I travel I use this card. It pretty much is used for everything. Last year I made $47K after taxes while I was a student and now I am working but looking for a job that will earn to more in the future.

I am wondering what cc is best for me in regards to travelling and receiving points! My current cc does not offer much can you compare my current one with one that is best suited for me? THANKS!

GreedyRates says:

Hi Tee! It’s great that you’re looking for a solid travel rewards card now that you’re going to be joining the workforce. While we don’t know much about the Modulo Gold card, it does sound like it isn’t the best for travel. In contrast, we are happy to recommend the Starwood Preferred Guest card to you as a replacement. This is one of the best travel deals out there currently, offering a huge bonus of 25,000 points and a solid earn rate on hotels and other purchases. You’ll be able to stay in nice hotels across the country (and world), or just as easily transfer your points to over 150 airline rewards programs. Alongside some other premium perks like a free night in any Starwood hotel once per year (even a 5-star hotel), there’s no reason not to at least look into this card.

GreedyRates Staff

nicole says:

Hello GreedyRates,

We are just starting the process of building our own house, which means a lot of money is going to come out of our pockets, and well i figured i would research the best rewards cards to help put some of that money back into my pocket. I see you have done all that research for me :).

We do have the visa avion, as well as a costco membership (without the master card).

We are simply interested in the most return per dollar spent, whether that comes at a cash return or travel rewards.

does the costco master card and membershio compare to others you have researched in regards to cash back?

is it worth it to get airmiles on top of a master card as well?

thanks
nicole

GreedyRates says:

Hi Nicole! Great questions! First off, congratulations on breaking ground on your new home. An exciting time like this is also an expensive one, so you’re correct in looking for cards that will save on some of these costs. Usually in these times we recommend cards with strong introductory bonuses, so you can get accepted and then frontload all of your biggest expenses into the initial bonus period. The New SimplyCash Preferred card from AmEx could do the trick: it offers 5% cash back during the first 6 months (though it caps earnings at this rate to $300), but then decreases to 2% cash back indefinitely. This 2% is nothing to scoff at, and actually represents one of the best cash back rates around.

Another suggestion, though it might be an unexpected one, is the Scotiabank GM Visa Infinite card. It’s particularly relevant if you and your partner are saving up for a new car to go with your new house. You’ll earn 5% on all spending up to $10,000 annually, and then 2% afterwards. These rewards have no limit, and do not expire, so you can save a ton of them over the years. Eventually, each point represents $1 off the sticker price on a leased or purchased GM car (Chevrolet, Buick, Cadillac, or GMC). If you two think you’ll be in need of wheels, and want to use your upcoming homebuilding expenses to get a huge discount, check it out.

GreedyRates Staff

Bernard says:

Hi Greedy rates,
last year I took advantage of your proposals. I got an American Express gold reward card (free 25000 aeroplan) + TD Visa Aeroplan (+15000 aeroplan).
Now I have to pay AMEX 150$ and TD 120$ per year. I can afford both of them but I want for goodies!!!

I am thinking changing my AMEX for either Scotia gold Amex (free 300$) or SPG Amex (free 25000 starpoints).
I could also change Visa for MC. My wife has MC. We spent around 3000-4000$ a month.

Any suggestion for the best deal, both this year and second and thereafter years?

thank you

GreedyRates says:

Hi Bernard! Great questions – we appreciate you being so thorough, and think we can make some smart suggestions. If you no longer want to pay the annual fee on your credit cards, that’s OK. Just understand that with diligent use, the annual fees are negligible because of how much these two cards can save. If you’re set on switching to another card, we recommend getting rid of the Amex and replacing it with the Starwood Preferred Guest card. You were right to consider this card as your replacement, because it’s currently one of the best deals in the country, and complements other air travel cards well. The points you earn with the SPG card can be transferred to almost any airline rewards program, or used to pamper yourselves in hotels around the world. It also has an extremely generous introductory bonus of 25,000 points (but only until October 18th).

This is the best way to go because having two AmEx cards can be redundant, and it may be hard to consistently find places to shop that accept AmEx. Visa or Mastercard usually doesn’t matter, as both are accepted in equal measure, and very commonly. Best of luck!

GreedyRates Staff

Cliff says:

Lets say a guy spends about 200,000.00 per month on visa paying of each month and likes to travel for periods of 3 to 4 weeks. And do have a RBC Avion visa and a RBC USA visa they use when traveling. Would you stay the course or do you know, of a better game plan.

GreedyRates says:

Hey Cliff, thanks for the great questions! If you’re spending that kind of cash and travel frequently, you chose very well. The RBC Avion Visa is a great card, allowing non-stop rewards accrual and flexible spending. You also have a card with exemption from foreign transaction fees, which is smart. Either you already know what you’re doing – or you’re a frequent visitor to our site! Either way, there are a couple suggestions we can make:

You have a solid pair of cards for traveling, but if you want to start reducing your hotel expenses as well, the Starwood Preferred Guest card is a good choice. With your rate of spending, it’s likely that you can also stay many free nights in some quality 5-star hotels around the world. Another option is a card that grants you access into VIP airport lounges, which is a relaxing way for a frequent traveler to spend time on their many connecting flights. If that interests you, check out the BMO Rewards World Elite card, which will earn rewards for any airline, earn cash back, grant you a generous bonus, and access airport lounges around the world.

GreedyRates Staff

niki says:

Hi, Iam looking for a good Business Credit Card with NO annual fee. Cash back is best however Iam open to other better offers.
Happy to switch after 12 months which is the time when most promotions end.
Thanks

GreedyRates says:

Hey Niki, thanks for inquiring about suitable business cards. We think the first credit card you should look at is the American Express Business Gold Rewards card. It offers you 30,000 rewards points (which translates to $300 in statement credits or other rewards) after spending $5,000, and enables you to earn 1 point for every dollar spent. You’ll also earn 1 point per dollar at your primary merchants and vendors in Canada. Points can be used flexibly, either to pay specific business costs when you get your statement, or to transfer to an Aeroplan, Avios, or other frequent flier rewards programs at a 1:1 ratio.

Many of the best business credit cards are from American Express, including the one above, the Business Platinum card and the AIR MILES for Business card. If you’d like a Mastercard however, check out the Platinum Mastercard for Business, which earns 1.5 points for every dollar spent, saves 2.5% at Ultramar gas stations across Canada, and protects you with a comprehensive insurance package for disability, dental care, travel, and more. If we can be of further assistance, let us know!

GreedyRates Staff

Michael says:

I have heard of a strategy where you sign up for a high initial reward credit card. Then when you get the sign-up bonus you switch cards. Doing this you would go through 4-6 new cards a year. Would this have a negative impact on your credit ratings?

GreedyRates says:

Hey Michael, thanks for your question. The process of signing up for, and then cancelling rewards cards is called “churning”. Some people do this to receive the lucrative introductory bonuses, like frequent flier miles, hotel stays, and points. To churn successfully, you must find cards that have low requirements to receive these promotional rewards, something like “an initial purchase” or “adding a second verified user”. Accordingly, it’s easy to collect the bonus, cancel, and move on to the next card. If you’re attempting this, be careful to read the fine print and also be wary of the negative impact of consecutive card cancellations on your credit. We haven’t published much on churning, because it’s a delicate and not-always-reliable process, but if your heart is set – then good luck!

GreedyRates Staff

Jason says:

Hi

I spend about $4000 a month with $3000 on our Visa Avion (we have about 260K points for travel) and the remaining $1000 on the now cancelled Petro Canada MasterCard (with the majority of that spend being at Costco which only accepts MasterCard). I am looking for a new MasterCard and prefer cash back, but travel rewards are also an option if it complements well.

As an aside – I do travel extensively throughout the USA and have a lot of Hilton points and United rewards but am not seeing that complementing any current Canadian cards.

Thanks for your help.

GreedyRates says:

Hey Jason, thanks for your question. We understand your need for a Mastercard to complement the Visa Avion. If you like the idea of cash back and getting some travel benefits as well, you might be interested in the Rogers Platinum Mastercard. It’s not a traditional travel rewards card, but it offers 4% cash back on foreign transactions, and we think the Avion you hold is enough to get you where you need to go. Once you arrive, you can begin earning on each purchase you make (if it’s in a foreign currency like USD, Euro etc.). When you get back home, you can go to Costco and earn 1.75% cash back as well. It is definitely worthwhile to explore and consider this option.

Another card we can suggest is the Starwood Preferred Guest card, which might suit your traveling lifestyle in the US. You could use your remaining Hilton points and switch to staying at the Starwood line of hotels, which has many brands and locations in the US. You’ll immediately get 5 free nights and build up more fast, or you can transfer points to any airline rewards program as well. We hope we helped – best of luck!

GreedyRates Staff

Tman says:

Hi, I currently make $35k . I am looking for a credit card with travel rewards and something to help me save and/or earn for gas purchases and other shopping. Preferably a not-so-expensive annual fee.
I currently have Amex Simply Cash and RBC rewards but I really just want one card for now to put all my purchases on and also receive benefits of travelling on any airline, insurances, and rewards for purchasing.

Please advise on any card as I am open. Thanks 🙂

GreedyRates says:

Hey Tman, thanks for leaving your comment! If you’re looking for a great travel rewards card that you are eligible for with a $35,000 income, try the TD Aeroplan Visa Platinum card. The requirements aren’t strict, and it suits your need to earn on gas and groceries (at 1 mile per $1 spent). For an $89 annual fee, you’ll also get a welcome bonus of 10,000 Aeroplan miles, a $1500 minimum credit limit, and the ability to earn double miles at Aeroplan.

For the most flexible and powerful travel credit cards, like the RBC Visa Infinite Avion or the CIBC Aerogold Infinite, issuers require at least $60,000 annual income and also impose higher annual fees. Most are over $100, though they satisfy all the requirements of the card you’re looking for. There are many options for you in the Aeroplan and Air Miles lines, and others that may surprise you here: https://www.greedyrates.ca/cards/Travel-Credit-Cards

Let us know if we can be of further assistance. Thanks again!

GreedyRates Staff

Max Xavier says:

Hello, I’m new in Canada, my credit score 742(though I’m not familiar with credit score),my yearly income $20K, in shortly I spent approximately $5000 on groceries (or something) yearly, $2500 on Travel (including Air fare & Hotel &foreign Transaction) yearly, carry $1500 every month. Can you please suggest me one or two best credit card for long time ? Thanks
(interested- sign up bonus / good travel insurance / no OR low annual income)
(not interested- air miles at all, Cause I got some free air tickets every year)
Again Thanks.

GreedyRates says:

Hi Max, thanks for coming to Greedyrates with your question. We appreciate that you posted what you’re looking for in a credit card, and also what you don’t want. It sounds like you could use a good cash back card with a sign up bonus, and priority for gas and groceries, which are your biggest expenses. The MBNA Smart Cash Mastercard could be the one you’re looking for. It offers a great bonus of 5% cash back for the first 6 months on groceries, and then 2% afterward without limits. For all other areas of expenses, you are entitled to 1% cash back. MBNA requires just $15,000 annual income, which fits your needs well, and the absence of any annual fees makes this card an easy one to own. The only area where it fails your requirements is in travel insurance. Generally, the cards aimed at travel offer the best insurance, but you said that a travel card would be somewhat redundant. This, and also your annual income, might be barriers to valuable travel insurance, especially with a card that isn’t for travel specifically. We can make other suggestions if you like. Best of luck on your search!

GreedyRates Staff

Debbie says:

I am looking into getting a new credit card for upcoming purchases.

I have never had a card with reward points, cash back or air miles. I always pay off my balance every month.

Which credit card would you recommend? I am looking at purchasing equipment from the US and doing trade shows in Canada. I am not interested in air miles, more the cash back option. I am finding restrictions for the cash back option on different credit cards.

GreedyRates says:

Hey Debbie, thanks for coming to GreedyRates. Wow, welcome to the world of rewards credit cards! You don’t know what you’ve been missing – but we’re here to help you catch up. We know of a great cash back card that will work wonders for your plan to purchase in the US and travel in Canada. The Rogers Platinum Mastercard will earn you 4% on all purchases you make in the US, as you plan to do, which covers the foreign transaction fees and then adds 1.50% on top. In Canada, you’ll earn cash back at 1.75%. For your purposes, we think this one is suitable, but there are a plethora of other options as well. You mentioned that you kept running into restrictions on other cash back cards. Could you enlighten us as to what these restrictions are? We’d be happy to offer recommendations that fit your exact specifications. Looking forward to hearing back from you. Good luck!

GreedyRates Staff

David says:

My wife has a TD Visa infinite Aeroplan card (with me as a second card holder). Next year we have a year off, so will be traveling throughout the year.
We already have travel/medical insurance through our jobs, which will continue during out year off. So we are looking for a card that has good cashback rather than reward miles. Also one that has good anti fraud & theft cover and maybe one that doesn’t have foreign exchange fees.
Any ideas?

GreedyRates says:

Hi David (and David’s wife)! It’s great to hear that you two are going on an adventure soon, and we’d be happy to provide you some suggestions as to which card companions are most suitable. If you want great cash back and no foreign transaction fees, we recommend the Rogers Platinum Mastercard. For purchases you make in Canada you’ll earn 1.75% cash back, and all purchases in a foreign currency earn an impressive 4.00%. This is designed to offset the 2.50% transaction fee and reward you simultaneously.

Another card from Rogers that could be of interest to you is the Fido Mastercard. Like the Platinum Mastercard its foreign transaction fees are offset by a 4% cash back rate on purchases made abroad. Carholders don’t need to pay an annual fee, and they can get $50 cash back as a welcome bonus.

GreedyRates Staff

ReasonableReview says:

Home Trust Preferred Visa:
• No annual fee
• 1% CashBack with no limits to your total rewards
• No restrictions on where you earn your rewards
• Roadside Assist membership at no extra charge
• No foreign currency conversion surcharges (i.e. 0% currency exchange)

Anne Marie Barakat says:

Good morning!

I am looking for a credit card that offers:
– complete car rental insurance and road assistance;
– a maximum of aeroplan miles;
– if possible, fee waiver for the first year.

Can you help me? Would be much appreciated!

GreedyRates says:

Hi Anne Marie! Thanks for your question. You should definitely look into TD’s line of Aeroplan cards if you’re a fan of this airline rewards program and need auto rental protection. Their Visa Infinite is one of our most popular cards, and offers a 15,000 mile bonus for new customers and extends auto rental collision and loss insurance to drivers. While you missed the promotion that waives the first year’s annual fee, we still recommend this card highly. Look into it and let us know if you’d like us to make any other suggestions. Thanks!

GreedyRates Staff

Tiffany says:

Hi there,

I love and appreciate your reviews. My husband and I are looking for a card to use for business purchase likely between 15000-25000 per month. It will be used mostly to pay bills for the business. Our gross income combined is approx 150k – could you recommend one for us? I see on a few reviews you say for large amounts of spend – choose differently. We would like rewards with travel and gifts (like air miles)
Thanks in advance

GreedyRates says:

Hi Tiffany. Thanks so much for showing your appreciation! We really enjoy hearing from our loyal readers. Thankfully, this is one area where we can prove that we’re the best in the business (get the pun?). For business purposes at your level of spending there are a couple recommendations we can provide. The first is the American Express Business Gold Rewards card. It lets you earn rewards on your purchases and then redeem points on business expenses (or travel), and you’ll earn double the normal rate with the suppliers you select beforehand. You’ll also love the 30,000-point bonus. Additionally, there is no annual fee, a 55-day period of no interest, and easy quarterly and annual reports.

As for travel-specific business credit cards, you should check out the BMO Gold AIR MILES Mastercard for Business. It allows you and your employees to accrue air miles at a fast rate, and get automatic rebates from certain suppliers. For a more thorough list, you should check out the article here: https://www.greedyrates.ca/blog/best-business-credit-cards-canada/

Best of luck!

GreedyRates Staff

Mike says:

Hello,

Two months ago I got accepted for the American express gold card from Scotia bank. I also have the cash back Mastercard from RBC. I am a full-time student and I also work. I have an income of 23000$. I want to keep the American express for now but it is not accepted everywhere and it only has the 4% in certain categories, so I was wondering what credit card do you recommend me to pair it? I usually like the travel credit cards but considering my spendings I am not sure if a high fee credit card would be the best choice right now so I am looking for something with a lower fee or no fee at all. Do you have any suggestions?

Thank you!

GreedyRates says:

Hi Mike, thanks for your questions!

We can definitely find you a card that works for your situation. You want a low-fee, high-power and travel-centric credit card that is not an American Express.

There are three suggestions we can provide. The first is the FIDO Mastercard, which has no annual fee and can be used to purchase smarter when traveling. It rewards 4% for all purchases made in a foreign currency, like its cousin the Rogers Mastercard, plus 1.5% cash back for other purchases.

Our second recommendation is the Tangerine Cash Back credit card, which is a unique and flexible card that is great for students. You’ll get 2% cash back in three different purchase categories of your choice, plus 0.5% everywhere else – and with no annual fee as requested.

Finally, we think you should also check out the MBNA Rewards Mastercard. This is a more well-rounded contender, with no annual fee and 1% overall cash back. While this might seem low initially, points can be redeemed on travel, cash, or merchandise at any time. Check out all three and tell us what you think! Thanks again for visiting.

GreedyRates Staff

Susan says:

I’ve recently become a member at FirstOntario Credit Union. They offer ‘Choice Rewards’ Mastercards. I am not familiar with this program. What can you tell me about it? Thanks in advance.

GreedyRates says:

Hey Susan,

Thanks for your question, and congratulations on your recent membership to FirstOntario! The cards series called the ‘Choice Rewards’ are named as such because of the access that cardholders have to the plentiful rewards catalogue, where they can spend their accrued points.

It also offers a limited-time 3.99% interest rate balance transfer benefit for 10 months, as well as 1,000 rewards points to start off. During daily use, you’ll earn 1 point for every dollar spent. It’s a relatively good deal for the the low annual fee, but only you can determine if it’s suitable or not. So far, we like what we see. Thanks for commenting!

GreedyRates Staff

Marie says:

Like others I’m searching for the best value in a travel credit card. I currently have an Aeroplan Visa but have been reading about the West Jet Elite MC . I travel often and prefer to fly West Jet when possible . Any advise would be greatly appreciated.

GreedyRates says:

Hey Marie,

Thanks for coming to us with your questions, there’s nothing we love to do more than provide recommendations for savvy credit card users 🙂

You said that the Aeroplan card isn’t for you, and that’s fine. Your other choice, the WestJet World Elite MasterCard, is also great. If you fly often with WestJet, you’ll love the ability to earn points on your daily purchases, the free travel vouchers and checked bags.

We have another recommendation for you as well: check out the American Express Gold Rewards card. It’s arguably one of the most flexible travel reward cards out there. With it, one earns travel rewards with daily purchases, and can proactively apply them to any travel-related charge on their statement. This removes any restrictions on airline, car rental service, hotels and more from consideration. Let us know which you choose!

GreedyRates Staff

Garuda says:

Hi, Spending approx 20-25k a month not carrying a balance on purchases for my business. Most places do not take Amex that I deal with. Currently only get 1% cash back, which isn’t helpful as it gets credited to the card. I’d prefer points but find aeroplan has been almost unusable over the years. Never has flights, or the redemption sucks. I don’t mind paying for a very high fee card, just really want usable travel benefits, and even privilege no waiting in line feature at airport. Hope you can help!

GreedyRates says:

Hey Garuda,

Thanks for your question. We’re sorry to hear that you aren’t satisfied with the Amex you have, but from the sounds of it, we can offer a much better alternative.

You want a better earn rate, a card that isn’t an American Express, and some of the best travel perks around. We can easily recommend the BMO World Elite Mastercard, which fulfills all of your requirements. It earns 2% rewards on all your spending, and immediately gives a bonus of 20,000 points.

You mentioned that you were disappointed with the Aeroplan redemption system, and BMO’s works differently. Instead of booking through BMO, you do so through any travel provider and rebate it with rewards later. In fact, you can do this for any travel expense. Cardholders also get 4 free airport lounge passes per year. If this doesn’t sound good to you, take a look at the other travel cards we’ve reviewed.

Evan says:

Capital One MasterCard is the same card with a 40,000 point or $400 bonus.

Jay says:

I’d recommend taking a look at the MBNA World Elite card. You get 2 points/$1 equivalent to 2% cash back on all purchases which you can redeem as a statement credit whenever you’d like or for travel or other rewards.

The BMO World Elite card locks you in on their points system that you can only use on their own travel website which is a huge downside in my opinion.

The MBNA World Elite is my primary card – cash is king. I also have the BMO World Elite as my secondary card, but I use it only for travel expenses because its insurance benefits give me some additional peace of mind and it’s nice to get the 4 priority pass lounge passes every year.

Suji says:

Hi, I am a student graduating next year. I am looking to get a new credit card that is for 100% airmiles since I fly to Korea regularly with Air Canada. Currently I am using Credit Conexus Union No Fee Choice Rewards Master card.
I am working as a summer student for next 3 months and I will have no income from November till the end of next year. Which credit card would you recommend for me?

GreedyRates says:

Hi Suji,

Thanks for asking this question – we’re sure others may be wondering the same. Which credit card is suitable for someone like yourself, who will not have an income in the near future? If you fly Air Canada, our first recommendation is the BMO Air Miles Mastercard, which doesn’t charge any annual fees and grants 500 Air Miles points on signup (that’s about $75 worth of travel fare!). This is an immediate money-saver, and for the first three months you can earn air miles at 3x the normal rate. This should give you time to accrue enough for your next flight, as you say you will not have an income starting in November. It also earns miles at a 2x rate at certain locations, and doesn’t impose any minimum spending rules.

Another option, if your student status makes you eligible, is the BMO SPC Student Air Miles Mastercard. In addition to perks like that of the previous card, students can get 10-15% off at a multitude of stores, which is a perk that stays with you no matter your income. In truth, the array of Air Miles cards out there make the choice different for everyone. For more information, you can check out the chart on this Air Miles cards comparison page.

Good luck with your decision!

GreedyRates Staff

Matt says:

I don’t hear much about the CIBC Visa Infinite Cash Back card. What are your thoughts about that card? How does it compare to the Scotiabank Momentum Infinite Visa with respect to cash back?

GreedyRates says:

Hey Matt, thanks for your request.

It’s our job to compare cards, so we can definitely help you out! There is no card called the CIBC Visa Infinite Cash Back, but you might have meant the CIBC Dividend Visa Infinite. This card rebates the first year’s $99 fee and offers 4% cash back on gas and grocery purchases, and 1% on everything else. It also has some out-of-province medical coverage.

Similarly but slightly better, the Scotiabank Momentum Visa also offers 4% on gas and grocery, but also 2% on pharmacy and recurring bills, and 1% everywhere else. Scotia rebates the first year’s annual fee, like CIBC. Also like CIBC, the card has travel medical, as well as trip interruption, travel accident, purchase protection, lost baggage, flight delay insurance and more. We think you can determine which is best. Let us know what you choose!

GreedyRates Staff

Santino says:

Hello,

I am in need of A MasterCard mainly for grocery shopping. Costco only accepts MasterCard. I had the Petro MC to save money on gas but CIBC has discontinued it. I am looking at the BMO world elite card. Would this be a good option or would you recommend something else

GreedyRates says:

Hi Santino,

Thanks for your question – and we’re sorry that your favourite card was discontinued. Costco’s requirement that customers use a Mastercard to make purchases on credit makes your request one that we hear often.

Regarding the BMO CashBack World Elite card, this is a great option that offers a limited time offer of 4% cashback on every purchase (up to $250 cash back) in your first 4 months,
and 1.5% Cashback on ALL card purchases subsequently.

Because you’re a Costco shopper, we guess that you might benefit from a card that earns rewards on these purchases. Accordingly, the MBNA Smart Cash Mastercard is another solution. You can get 5% back on gas and groceries for the first 6 months, and 2% thereafter. If a balance transfer offer is relevant to you, it might also be important to note that for a limited time, MBNA is offering just 1.99% interest on new customer transfers. Let us know how your search goes – we’ll be here!

GreedyRates Staff

Lisa says:

Good afternoon,

Great post!

I currently have a CIBC Aerogold Visa Infinite card but I don’t really find it’s doing much for me. My husband and I are not big travellers so the travel points/miles are not that important to us. As for the points we currently have now, we think we are going to redeem them on merchandise and/or gift cards. We then want to cancel this card.

At one point we heard there was a home rebate credit card (I think a CITI Visa) where a certain percentage went towards your mortgage principal. Have you ever heard of this? I can’t seem to find such a card online so that may no longer exist.

I have been doing some research and I think the cash back credit cards are most appealing to us. What cash back card would you recommend? There are so many to choose from.

Thank you!
Lisa

GreedyRates says:

Thanks Lisa 🙂

The CIBC Aerogold Visa brings the most benefits when in the hands of a frequent flier, and many who only fly for the rare vacation often find it unnecessary. You can spend your points and cancel it afterward, but beware that this might lower your credit a bit and affect your chances at approval for another card.

We have not reviewed any cards that allow one to pay their mortgage principal, and there are not many relevant cards that we know. Cash back is a great alternative, and many issuers make receiving the cash you’ve earned a flexible experience. You can use it to pay balances, get it as a cheque, keep it in your account or use it for merchandise.

We’ve replied to your other post with some suggestions, namely the MBNA World Elite Mastercard, and AmEx’s SimplyCash card. Check these out, and if you need further ideas, you can respond to us here or reference our article here: https://www.greedyrates.ca/cards/cash-back-credit-cards

Thanks for commenting,

GreedyRates Staff

Ali says:

We are looking for a no-fee credit card that would pay decent cash rewards – say 2% and not charge the 2.5% foreign exchange fee when using the card outside Canada. Any suggestions

GreedyRates says:

Hi Ali, thanks for your question.

This specific mix of benefits – exemption from foreign fees, cash back, and no annual price tag – is not a common one. There was a similar deal that Tangerine provided, but it was reformed and is no longer available. We do not believe Tangerine took this decision lightly. However, if they were losing money, and we believe they were, the decision was inevitable. Fortunately for cardholders it’s a no annual fee product. That said, its offering can still be very attractive. There are no other no fee cash back credit cards in Canada that give 2% unlimited cashback rewards in 2-3 categories.

However, Tangerine’s 0.5% on all other spend is not very attractive when you compare it to other cards like Amex’s SimplyCash card that offers 1.25% on ALL spend, BMO’s no fee cashback card at 1% on all spend or the Rogers Mastercard offering 1.75% on all purchases and 4% on foreign purchases.

We hope that helps,

GreedyRates Staff

Dollar Saver says:

Look into the Rogers mastercard

ReasonableReview says:

This one is good for foreign purchases and still gives 1% cash back on everything:
Home Trust Preferred Visa:
• No annual fee
• 1% CashBack with no limits to your total rewards
• No restrictions on where you earn your rewards
• Roadside Assist membership at no extra charge
• No foreign currency conversion surcharges (i.e. 0% currency exchange)

Mike says:

I would am looking for 2 different alternatives. Either a travel rewards card or a rewards card that allows apple product purchases (non airmiles)

I put through about $25,000-$35,000 per month on supply charges and never carry a balance month to month. I currently have the BMO MC gold but find I want to get away from Airmiles.

Thanks For your reply.
Mike

GreedyRates says:

Hi Mike,

Thanks for coming to us with your credit card questions! While the BMO Gold MasterCard is not a bad card to have, it can be improved upon, especially given the requirements you have for a different travel card.

Since you do not want Air Miles, we recommend you take a look at the Starwood Preferred Guest card from American Express. It is possibly one of the most flexible cards for travel around, given its great 25,000-point introductory reward and the fact that these points can be spent on hotels all over the globe, or transferred to over 150 different airline rewards programs. It also grants rolling status upgrades the more you spend, which is ideal for your situation. You can easily acquire Gold and then Platinum Preferred status, which increases your earning rate and gives all kinds of complimentary perks when you stay at an SPG location.

Alternatively, for Apple products, we currently know of no cards that benefit these kinds of purchases. Apple products are in many of the online rewards catalogues of major credit cards, such as BMO and RBC, but one must save up for a significant time before being able to buy an iPhone, for example, with their rewards points. Good luck!

GreedyRates Staff

Eli says:

Hi, I would like to get the new Amex simple cash preferred card. Is it possible to get them to waive the annual fee, even if just for the first year?

GreedyRates says:

Hey Eli!

Thanks for your question. While we’re not confident that Amex will refund your annual fee, it’s worth your time to call and inquire with a representative. Sometimes, issuers will make exceptions for those with excellent credit or other qualifications, and a quick phone call will not take long. Please let us know how it goes so we have case study to share with our readers 🙂 Good luck!

GreedyRates Staff

John says:

I am looking for a VISA card with no annual fee and (world wide) rental car collision damage insurance. I have a TD VISA card for that purpose but TD is not going to continue the rental car insurance after September. What is the best alternative?

GreedyRates says:

Hey John!

So you’re looking for a VISA with no annual fee and thorough rental car collision coverage. Well, you’re in luck. Scotiabank’s GM VISA Infinite card is one that our team has recently researched, though we’ve yet to publish our official review on Greedyrates. Find more details about the card below:

The GM VISA Infinite is best for those who want auto-centric rewards. It earns a generous 5% in GM Earnings on the first $10,000 spent annually, and then 2% afterwards. Each GM Earnings point represents $1 off the sticker price or lease down payment of a new GM vehicle – Cadillac, GMC, Buick, or Chevrolet. The best part is that earnings do not ever expire, so one can feasibly use this card for years and get an enormous discount on their next new car.

Additionally, the card has the other automotive perks that you desire, like protection for your rental car, alongside travel medical insurance, trip interruption insurance, and various purchase protections. We highly recommend it as a niche rewards card, and you can look forward to reading about it soon on our site. For now, simply check it out here.

We hope that helps,

GreedyRates Staff

John says:

Thanks guys, but I fear you missed one detail. The GM VISA Infinite card has an annual fee of $79, which is only waived for the first year. The only cards that appear to give me what I am looking for (no annual fee but including rental car collision insurance) are No fee ScotiaGold VISA, RBC VISA Platinum, CIBC Platinum Visa, and CIBC Aventura Visa. But what is most advantageous is unclear to me, any idea or are they all pretty much the same?

GreedyRates says:

Hey John,

We appreciate your continuing correspondence. We understand now exactly what you prefer, and the cards you mentioned in your comment helped to enlighten us. These are all very similar, bare-bones credit cards with the benefits you want almost exclusively. No fees, rental car coverage, and not much else. However, the last one on the list (the Aventura Visa) does have an annual fee after the first year, which you mentioned is not preferable.

In other terms, go for any of the other three you’ve picked. Regardless, let us know which one you end up with. Best of luck!

GreedyRates Staff

Kelly says:

currently just paid off my CIBC Visa Select; my husband has a CIBC Dividend card. We are interested in a travel card as well as another rewards card that would give us the best band for our buck. We would like to pay for mortgage, groceries, gas etc. and then at the end of the month pay of the balance. I am not really interested in the AMEX because I find where I live in Yellowknife NT not a lot of vendors offers the choice. What do you recommend?

GreedyRates says:

Hey Kelly!

It’s great that you and your husband are looking for a new set of cards to earn rewards with. We’d be glad to make some suggestions and will stay away from Amex if that’s what you want.

You say you’d prefer a card that you can use for groceries, gas, mortgage payments and more, so let’s begin with a travel card that rewards you for these types of purchases. Since you already have a CIBC card, the issuer will be familiar with you and likely offer a better credit limit, so the CIBC Aventura Visa Infinite is a great option. By spending on gas and groceries you will earn points that can be redeemed for airfare on any airline, and you’ll also receive a 15,000-point introductory bonus.

For simple cash back, you’re already a cardholder with one of the best available – the CIBC Dividend card. You and your husband should be getting 4% back on your gas and groceries, so for these expenses you’re covered.

We hope that helps,

GreedyRates Staff

Prax says:

I have Amex Gold from USA. I will be moving to Canada soon where I don’t have any credit history. What is your recommendation? Should I keep the card issued in USA or should I reapply here in Canada or Should I ask them to convert it to use it Canada?
Please suggest.

GreedyRates says:

Hey Prax,

Interesting questions for sure! Also, great choice in the AmEx Gold card, however, we think that you’ll be better off reapplying in Canada. This is largely because the cardholder is only eligible to earn points at Canadian groceries, drugstores and gas stations – so you will miss out on all those points without the Canadian version. Having said that, do not cancel your American card, because it benefits from no transaction fees, meaning for purchases you’d like to make from that account, using the card works perfectly.

However, depending on how long you’ll be in Canada, you may want to get a Canadian credit card to establish credit in the country anyway. This is very important, as no credit is as bad, or worse, than poor credit. If your credit is good in the United States, know that some Canadian issuers will use it to determine your creditworthiness if given permission. There are credit bureaus that overlap between the two countries (Equifax), so this is worth a try.

Good luck and happy moving!

GreedyRates Staff

Jennifer says:

I am going to school in Copenhagen for two years. I’d like to get a MasterCard with no foreign transaction fees. Could you recommend?

GreedyRates says:

Hi Jennifer!

Wow, that is very exciting news – congratulations! We’re glad you asked us about your purchasing needs while abroad. Those who are not properly financially equipped are at a disadvantage, but thankfully we know of two great credit cards that suit your needs perfectly. Which you prefer is up to you of course. It is important to know that with both of these cards, you will not have to worry about foreign transaction fees.

First, there’s the Rogers Platinum Mastercard. This card doesn’t explicitly cancel the 2.5% foreign transaction fee charged on purchases but rather grants 4% cash back. This means that in Copenhagen, all your purchases made will earn 1.5% for you. It also will earn 1.75% on purchases in Canadian dollars. It’s hard to argue with cash back.

The other card is the Chase Marriott Rewards Visa. We recommend this one if you find yourself staying often in hotels, especially the network of Marriott Hotels worldwide. This card accumulates points (also eligible to be spent at Starwood Preferred Guest and Ritz Carlton hotels) that grant priority status at these luxury establishments and a free night at any location annually.

We hope that helps,

GreedyRates Staff

Eve says:

In need of a new credit card prefer cash back and don`t like AmEx because I have found some places don`t take it. I don`t want to deal with Capital one. I pay for all most every thing with a credit card and pay it off every month. I don`t want to pay a fee. What would you recommend.

GreedyRates says:

Hi Eve!

Thanks for coming to Greedyrates with your questions, we will try our best to answer them to your satisfaction.

You say that you prefer not to deal with AmEx or Capital One, which is completely fine. There are a wealth of other options available for someone like you, who pays their balance completely and wants a favorable cash back rate.

We recommend checking out the Scotia Momentum Visa Infinite Cash Back card. The card enables you to get 4% cash back on groceries and gas, 2% on drug store purchases and recurring payments, and then a solid 1% everywhere else. The annual fee is waived for the first year (beware that it will be rebated a couple months after you’ve activated it), and then afterward the high cash back rate will more than compensate for it.

We hope that helps,

GreedyRates Staff

Christine says:

Hi

I will be furnishing a house, getting new carpet, flooring, etc. I am thinking I could probably take advantage of all these expenses and put them on credit card and rack up some rewards. I currently have 2 low interest – no frills cards, both currently paid off. Because I pay my card in full each month I was thinking I could change to a higher interest card with some awesome points. We do go on holidays once a year, usually a cruise so I am wondering if a travel rewards card would be good. I don’t currently collect airmiles. Also, can I put these expenses on my card and then pay it right away and still qualify for the rewards or do I have to wait for the statement.

Thank You so much for your time and this wonderful column

GreedyRates says:

Hey Christine, thanks for getting in touch with us.

Congratulations on your home purchase! It is very exciting, and we think that you’re totally correct: With the right card, all these purchases coming your way are an amazing opportunity to earn big rewards. There are many great cards that offer travel rewards, and two of the best for your situation are the Starwood Preferred Guest Card from American Express, or the RBC WestJet World Elite MasterCard, depending on which rewards you like more.

With the former card, Starwood offers customers the ability to save big on nice hotel stays during their trips. By spending $1,500 during the first three months of membership, which should be easy for you with all the impending expenses, you can get 20,000 Starpoints and 1 Starpoint on every dollar spent elsewhere. With increasing yearly spending on the card, you also unlock free hotel stays (even at 5-star branches) and other rewards. You could surely use it to get a lot of value from your coming purchases.

The other option is the RBC WestJet World Elite card, which is preferable for those who like to save on flights. You’ll get a bonus voucher of $250 immediately, annual companion voucher, free checked bags, and the ability to earn 1.5% on all your upcoming purchases. It also provides great insurance for trips abroad.

Additionally, you can pay these expenses right away with the card and be instantly eligible for the rewards in most cases.

Bon voyage!

GreedyRates Staff

Paul says:

Hi,

I currently have the TD Aeroplan Infinite Visa travel card and the American Express Gold Rewards card. For the first year for both those cards I received a good welcome bonus and waived annual fee, but now the year is coming up and I do not want to pay a fee for both these cards ($120 for TD and $150 for AMEX). Another issue I’m having is that many places I shop don’t accept AMEX. I really like the card and would prefer to keep it, but companies not accepting it has really become a hassle. Do you have any suggesting as to what other options I may have to switch the cards, exempt the fees, or ultimately cancel one/both while minimizing the damage on my credit score? (I understand cancelling credit cards and applying for new ones can have a negative impact on my credit score).

I was thinking maybe I should have 1 visa and 1 mastercard to cover my bases as both have the widest variety of acceptance among merchants. I don’t carry a balance and pay off in full every month. I would prefer to have one card as my primary and another as secondary if a merchant does not accept the primary (for ex. Costco only takes mastercard).

Any suggestions would be greatly appreciated, thanks!

GreedyRates says:

Hi Paul, thanks for your questions.

We understand that getting the welcome bonuses and exemption from annual fees when you have just opened an account is great, but these cards specifically are also some of the best for everyday use. The longevity of the Amex and the TD Aeroplan Infinite Visa is one of their best features.
Over time, both of these cards can bring enormous value for those who like to travel, and we recommend them to customers often. However, we do agree that perhaps one annual fee is enough and that a Visa might be a better choice if you’re having issues finding places that accept American Express.

Additionally, because your travel rewards scheme is currently a bit redundant, it may be time to look for a different kind of bonus. We like the Scotia Momentum No-Fee Visa, which rewards cash back, is a Visa and has no annual fee.

Keep in mind that if you don’t have an issue paying your balances but do not like the concept of an annual fee, you may not like how much issuers charge for their best cards, and frequent cancellations and applications may affect your credit negatively.

We hope that helps,

GreedyRates Staff

Joey says:

i have quite a few credit cards including the Gold American Express, RBC Avion and MBNA World Elite, but I’m want to just just one card to accumulate points and not a few or else I will not build up enough points to use on one card. MBNA has horrible customer service but their point system is 2 points for ever $1 and same as American Express Gold but for groceries and gas only. Except for the American Express which I pay when the bill comes, I want to pay off the balance on my MBNA and RBC and close one of them, most likely MBNA. RBC has been kind to me in the sense that they keep raising my limit even though I am no where close to even getting that high.

My question is are the points on all three cards equal the same? 1 cent per 1 point? Which would you recommend for the best rewards and availability? Thank you in advance.

GreedyRates says:

Hey Joey, thanks for your detailed questions.

You are right that it is easier to use one or two complementing credit cards in order to build rewards faster. Having multiple credit cards is not difficult to handle, and helps a credit score, but also fractures the bonuses you receive unless carefully planned. We’re very sorry to hear that you had a bad experience with MBNA’s customer service, and side with you – if you’re going to cancel one card let it be the MBNA.

The bonuses it earned were somewhat redundant with that of the American Express anyway. By focusing more of your credit usage on the RBC and Amex cards, rewards points will collect faster. We think the travel rewards from the RBC Avion card complement the American Express’ services well. The points system that each issuer uses to quantify their rewards does not differ much, usually 1 cent is the same as 1 point or 1 mile per $1. Generally better cards will bump this up to 2 or even 3 per $1.

We hope that helps,

GreedyRates Staff

Danielle says:

Wow – what really great feedback you give to each person asking questions. I’m learning so much just from reading them. Thanks GreedyRates!

Here is my situation:
I use my Visa card for everything – except I had to get a MasterCard when my grocery store stopped taking all other card types. I have an American Express Gold Card but don’t use it much at all.
My bank is discontinuing their MasterCard as of May 1 so I am shopping for a new MasterCard. Which do you recommend? I think I’ve also learned from reading above that perhaps I should be using my Amex Gold instead of my Visa Infinite to earn more travel rewards? We spend about $5000 a month on our Visa and always pay it off, and prefer travel rewards.
Thanks in advance for your recommendation…

GreedyRates says:

Hey Danielle!

We’re so happy to hear that you enjoy GreedyRates, and we look forward to helping you with your situation.

As you might know, your American Express Gold Card rewards double points on grocery, gas, pharmacy and travel purchases, and these points transfer to Aeroplan miles at a ratio of 1:1. Because you are able to use these points on flights, and also to pay off all travel-related expenses, it’s really one of the best travel rewards ecosystems out there. We highly recommend using it more to cover purchases that would have otherwise been made with your Visa.

For groceries however, because your store does not accept anything other than MasterCard, there are a few options to explore.

Your current cards’ travel rewards revolve around Aeroplan miles, so ideally you would want a MasterCard that can earn the same when buying groceries. While there are no MasterCard cards that directly add Aeroplan miles, the BMO CashBack World Elite MasterCard comes close. The points that accrue with this card can be used on any Canadian airline (including Air Canada’s Aeroplan), and the bonuses match what you’re looking for perfectly. Cardholders get an immediate 20,000 points, VIP airport lounge access and excellent travel insurance. If this interests you, check it out!

GreedyRates Staff

Katie says:

Hello,

I am looking to change my current BMO student price card MC to a regular credit card. I am worried about this reflecting negatively on my credit report (changing credit cards). I currently have an excellent credit score and want to keep it that way. Also I usually pay off the card every month and if I don’t I always have less than 1/4 of the limit. I am looking for something I can optimize benefits weather that is cash return or travel return. I typically spend (and usually pay off) anywhere from 500 – 1500 a month. I am leaning towards the Westjet MC however would this be my best option?

Thank you for your input,
Katie

GreedyRates says:

Hello Katie!

Great questions. It sounds like you have excellent creditworthiness, and switching to a better credit card will not only have a negligible impact on your score, most banks expect it. If you’re looking for cash back and aren’t worried about carrying a balance, go for the Scotia Momentum Visa Infinite Cash Back card, which has a plethora of cash back bonuses designed to benefit you no matter what you purchase. 4% on gas and groceries, 2% on recurring bills and drugstore expenses, and 1% on all else (just to be safe) could net you hundreds in cash back every year.

If travel rewards are more your style, the card you’re considering isn’t a bad choice! The Westjet MasterCard is one of the most comprehensive travel cards out there, granting a unique bonus of one very inexpensive round-trip companion voucher every single year. With free checked bags for you and your friends, 1.5% point accrual rate on all purchases and a $250 welcome bonus, you will soon be travelling in style without breaking the bank.

Hope that helps,

GreedyRates Staff

Chad says:

I’m thinking about applying for a fee new credit cards. I live in Ontario, and intend on paying my mortgage, car payment, groceries and everything else with whatever credit card gives me the most back. My family and I travel a couple times yearly, and I would like travel rewards or even cash back. Which cards would you recommend that I combine. I was leaning towards amex gold and TD infinite aeroplan. My credit is good.

GreedyRates says:

Hey Chad!

Awesome questions. We’re confident we can find you a great pair of cards that work together to provide excellent bonuses.

You mentioned that cash back and travel rewards were your top choice. It is logical that you were drawn to the TD Aeroplan Infinite Visa first, as this is one of the most powerful travel rewards cards that we have encountered recently. The 30,000 bonus miles are hard to beat, and when you pay for gas and groceries with the card you earn Aeroplan points at a rate of 1.5 per dollar spent. You’ll also enjoy other travel perks that you can pass on to your family, like a free checked bag, priority check-in and far-reaching travel insurance benefits.

For your second card, you can go one of two ways (as we see it): pick the American Express Gold Rewards, like you mentioned, or go for a cash back card to cover your other bills. The Amex card would complement the TD Infinite card very well, as accrued points are transferable at a 1:1 ratio to Aeroplan points, and the immediate bonus is 25,000 points. When added to the TD Infinite’s bonus of 30,000, you’re looking at a hefty head start. You can also use the Amex card abroad for double the normal accrual rate and then pay for purchases with these points.

Another option for the second card is the Scotia Momentum Infinite Visa, if you desire cash back. With an annual fee waiver on the first year, and if you’d like to use it for gas and groceries instead of the TD Infinite, which rewards Aeroplan miles, you can get 4%(!) cash back. Recurring bills (mortgage and car payment may be eligible) reward 2% cash back, giving you a bonus on almost any expense you and your family may encounter.

We hope this helps,

GreedyRates Staff

Paul B says:

I have the Capital One Aspire World Travel Mastecard, and I feel that it is the best card I have in my wallet. It accrues 2 points per $1 spent, it is an annual fee of $120, but on my anniversary date of the card, I receive 10,000 bonus points = $100, so the card actually costs me $20 per year. I can scrub any travel expense to the $, (example airfare of $1030 could be scrubbed with 103,000 points). I don’t think new cardholders get the 10,000 bonus points on the anniversary date of the card however.

Jesse says:

Hi,

I’m a small business owner putting about $10k a month on my RBC Avion. I just got an upgrade offer to their Privilege card and it made me realize that with my current spend, there may be a better card for my needs than the Avion. I like the travel benefits I get from RBC. Would love to know any recommendations you have. Thanks for your help.

J

GreedyRates says:

Hi Jesse!

Thanks for the comments. Glad to hear that you’ve been inspired to upgrade, and you’re completely right – you could be getting much better benefits elsewhere. It’s helpful that you mentioned you like travel benefits, and it happens that there’s a bonus-heavy card that fits your needs well. Based on your monthly travel needs, a card like The Business Platinum Card® from American Express® could hit the mark with a 40,000-point welcome bonus, 25 points per $1 spent, worldwide airport lounge access and other benefits that are tailored for business owners.

We suggest you go over to our 2017 list of the best business cards in Canada for a detailed review of other cards that could fit your needs.

We hope that helps,

GreedyRates Staff

John says:

What is the credit score needed for MBNA card?
i have 5 years of credit history
no late payments
recently cleared my outstanding balances.

current stats: equifax score 730
trans union score : 710
utilisation: 28%

in total i have 5 cards 15000 limit altogether
what are my chances
Thank you

GreedyRates says:

Hey John – thanks for your excellent question! You seem to have a great credit history and a score that reflects a responsible outlook on debt.

The article you reference has two MBNA cards mentioned: the MBNA Platinum Plus and the MBNA Rewards World Elite, and due to the differences between them, MBNA will appraise your creditworthiness differently depending on which you apply for.

That said, a 5 year history of good credit like yours plus utilization under 30% means that you have a good chance of being accepted. Regardless, it comes as little risk to you or your credit report just to apply, so we say go right ahead.

We hope that helps,

GreedyRates Staff

Allison says:

Hi,
I am looking for the best credit card, whether it be rewards or cash back or travel – it doesn’t matter. I spend approximately $1500 a month and always pay it off at the end of every month. Suggestions on which card would be the best for me?
Thanks, Allie

GreedyRates says:

Hey Allison! Let us help you on your search.

Considering that you spend around $1500 each month and always pay your balance, we highly recommend the Scotiabank Momentum Visa Infinite credit card. This is one of the most powerful cash back deals available, but you might want to hurry! They are currently running a promotion until April 30th, that gives 5% cash back on ALL purchases made for the first three months. For you, this promo alone would equal $225 cash back from standard monthly use. Also, the card provides an impressive 4% back on gas and groceries, 2% on pharmacies and recurring bills and then 1% on everything else (even on top of gas, groceries, bills etc.). For raw cash back, this card is hard to beat.

For travel, the American Express Gold Rewards card is great. Amex offers new customers that spend $1500 within the first three months 25,000 reward points, and then points accrue at a rate of 2 points for every $1 spent. This favorable rate is made better by the fact that these points transfer 1:1 with Aeroplan and Avios programs, and can also apply to a range of other programs from Delta, Etihad, Starwood, and others. It’s an extremely flexible travel card and there are few situations where it will not benefit you in some way. Also, there is no annual fee. Which card you go with is up to you, but there are some extremely solid choices that will suit your needs wonderfully.

We suggest you go through our full list of the best credit cards in Canada in 2017 for more insights.

Good luck and happy travels!

GreedyRates Staff

Karan says:

Hi I needed information on which credit catd should o go through.

GreedyRates says:

Hi Karan,

We’d be happy to help guide you to the right card, but we need to know a little more info about the type of card you’re looking for. Do you want cash back? Travel rewards? Are you looking for a low-interest card, or are you looking to transfer an existing debt onto a 0% interest card?

Let us know and we can point you in the right direction.

GreedyRates Staff

Kim says:

I currently have a MBNA platinum plus card (zero balance), am I eligible to apply for another same card so that I can get 12 month of 0% interest free? In the past, MBNA offers existing card holders for 0.99% interest free for 12-18 months but I haven’t see any offer yet in 2017.

GreedyRates says:

Hi Kim,

Yes you can apply for another MBNA Platinum Plus MasterCard. In order to pay down the first MBNA Platinum Plus MasterCard you’ll have to use a simple workaround, since no banks allow you to do a balance transfer from one of their own credit cards to another of their own credit cards.

Simply ask MBNA to do a “deposit Transfer” from your new MBNA Platinum Plus credit card to any Canadian checking account. You’ll get the requested amount deposited in your checking account at the same 0% rate for 12 months. It’s kind of like a cash advance, except it’s deposited into your checking account at 0% for 12 months. Then use the cash from your checking account to pay down the balance on your first MBNA Platinum Plus MasterCard – or for any other purpose.

We do not recommend you take a balance transfer from MBNA on one of your existing accounts, since they typically charge a 3% balance transfer fee on those cards, as opposed to only a 1% balance transfer on new balance transfer credit cards.

Hope that helps,

GreedyRates Staff

Joey says:

No the balance but the credit, so for MBNA and RBC for example if you have two different cards with them and you want to transfer the credit to the other card you can as long as it’s at a zero balance and then close that card you transferred the card from.

Cathy says:

Last summer I opened and mbna platinum plus card and transferred $7500 cash to my checking account, which I use it to pay down my line of credit and credit cards. I just finished paying the balance last week. I called mbna today and asked if I could open a new card so that I could once again get 0% and 1% transfer fee, and I was advised that as of the end of May they no longer allow this, as too many people were taking advantage of this. So I was told that 0% is only available to new card holders, and that you can’t have had their card and cancel that. do you have any suggestions? I would like to have access to approx. $10,000 to pay down my line of credit, then pay it off in 3 to 4 months.

GreedyRates says:

Hi Cathy, thanks for your inquiry.

It’s a bit of a disappointment that repeat MBNA account holders cannot get the Platinum Plus twice, as it might take more than a year to clear one’s debt.

However, there is something you could try. We’ve seen other customers find success when asking MBNA for an extension on their original promotion, instead of an entirely new card. With a clean history of repayment, you might be able to get approved for a low rate for another 6 or so months.

Alternatively, there are other low-rate balance transfer promotions out there from issuers like Mastercard, who offer their Cash Back card with a limited time 1.9% for 10 months. Best of luck! If you need more clarification, you know where to go!

GreedyRates Staff

Craison says:

Hey guys, I have a couple very large purchases to make shortly (~$20K) and have been comparing cards for this. They will mostly be on accommodations but also thigns that do not fall into typical categories. I think the Amex preferred cash back makes the most sense (5% back on purchases (no restrictions that I can see) up to $8000 then 1.5% thereafter).

I travel a lot so travel points are fine too but I think this is the best value for large but infrequent purchases? My spend will drop to very little following these purchases. Have I missed anything??

GreedyRates says:

Craison,

Great question! If you were to only get one cash back card for your situation, the Amex Simply Cash Preferred card would be it. Essentially you would get 5% on the first $8K and 1.5% on the next $12K for a total of $580 cash back.

However, if you’re willing to get two cards, you can get the MBNA Rewards World Elite MasterCard as well, which gives you 2% on all purchases (comes with an $89 annual fee which is off-set by the $100 welcome bonus). You would then get 5% on the first $8K using the Amex Preferred and the 2% on the next $12K for a total of $640 cash back.

If you want to think outside cash back, you could consider something like the Amex Gold Rewards card, which gives you 2 Amex points (2%) on travel expenses – which your accommodations may fall under. However, you can then transfer those Amex points to Aeroplan 1:1. With each Aeroplan mile worth 1.27 to 1.4 cents per mile, you’d be getting 2.54% to 2.8% in value – giving you even more than the MBNA Rewards world elite card. Then again, cash is king!

Hope that helps!

GreedyRates Staff

Barbara says:

I went to the american express gold rewards card site and did not see any mention of the annual fees being waved the first year. Is this perk still valid?

GreedyRates says:

Hi Barbara,

The Amex Gold Rewards card absolutely continues to waive the first year annual fee and says so right at the top of its landing page, third line below the image “Annual Fee:Your first year’s on us! That’s a value of $150”

Hope that helps,

GreedyRates Staff

Langley says:

Trying to decide what to switch my credit card off to, I’m currently on the TD Emerald Visa, I know this gives me a lower credit rate but I don’t think I’m getting anything out of it other than just less interest.

I have about 3000$ on it so I don’t know if I should go with something with a 0% transfer rate for balance or a rewards card. Thinking need a MasterCard as one card since my groceries are all done at No Frills really.

GreedyRates says:

Hi Langley,

We would suggest you do 2 things. First, you should definitely transfer your $3,000 balance to the MBNA Platinum Plus MasterCard at 0% for 12 months. Because TD owns MBNA, you won’t be able to do a direct balance transfer – you’ll have to do a “deposit “transfer” from your MBNA Plat Plus MasterCard to any Canadian checking account of your choice, then pay-off your TD Emerald Visa card from their. The deposit transfer will also be at MBNA’s 0% for 12 month term with a 1% transfer fee – best offer in Canada right now.

If you’re not going to keep a balance on future spend, you should get a rewards card and earn something in return for your spend. Use our calculator to determine which is best for you. However, if you’re going to keep a balance from time to time, you’re probably better off sticking with your low rate card.

Hope that helps,

GreedyRates Staff

Bern says:

It might be worth mentioning that there is a min. $25 cash back balance required before applying any payments towards the card balance.

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