What credit card are you using that's working for you?

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nfq said:
http://www.rewardscanada.ca/topcc2012/

I looked into a few points cards, and it just feels like it takes forever to build up the points to get anything worthwhile unless you're dumping your mortgage payment on your card every month.

Thoughts?
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Someone correct me if im wrong but i tried this and apparently you can't pay debt with debt therefore no bank I know off allows you to put your mortgage payments on your credit card, only way would be to do a cash advance from your visa to you bank account in order to pay your mortgage but cash advances on your visa are bad for your credit and i dont think you collect reward points on cash advances anyways (only exception I know of debt to pay debt is using your credit line to pay your visa not sure why the banks make this exception)

As for me I have both an Amex platinum airmiles (double dip on the miles at shell in conjunction with air miles card) and an RBC Avion Infinite Visa...I have enough airmiles saved up for a flight anywhere in the world, and I flew to Vancouver for free on my Avion last year and have already almost enough for another flight to Vancouver...I just run everything through my credit cards and pay off the balance in full every months that way I get the rewards without the drawbacks.
 
Trainman said:
Someone correct me if im wrong but i tried this and apparently you can't pay debt with debt therefore no bank I know off allows you to put your mortgage payments on your credit card, only way would be to do a cash advance from your visa to you bank account in order to pay your mortgage but cash advances on your visa are bad for your credit and i dont think you collect reward points on cash advances anyways (only exception I know of debt to pay debt is using your credit line to pay your visa not sure why the banks make this exception)
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You, sir, are correct!

I guess credit lines are a safer means of credit, therefore they accept it as a method of payment. Helps consolidate debt also!
 
I use the "italian Visa".

Its great, I never have to worry about a balance or interest rates. If I don't have it, I don't spend it.
 
bboySushi said:
Is there a fee on this card?

I've been using MBNA Smartcard for a while now, 1% on all purchases and 3% on groceries and gas IIRC
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Yea it's a $79 anual fee.. but I get a lot more then $79 cash back from it every year, so I consider it no fee.

I just like that it's 2% on everything, and not 1% on this.. 2% on that etc etc.. though you have to work up to the 2% every year like all of them I think.. either way, I pay 79 bucks and get around a thousand back.. I'm happy with it.
 
I've been using a Citibank (now CIBC as they bought Citi's Canadian portfolio) Drivers Edge mastercard as my primary card for years, you accumulate 2% on all purchases that you redeem when you buy a vehicle, any vehicle, doesn't even have to be your purchase. I try to put all my purchases on the card, big and small, and have a fair bit accumulated. Just paid off another year's bike insurance on the card yesterday. I pay it off every month so interest isn't a concern.

Once I redeem my balance, I'll probably cancel the card as they went from a no fee to a fee now that it's CIBC.

Any suggestions on an aeroplan/airmiles type card? Fee doesn't matter if the rewards are worth it. How much would you have to spend on it to get a free north american flight?
 
The problem with the airmiles /aeroplan cards is that the reward miles expire in 5 / 7 years respectively.. if you want a free blender or something every few years that's fine.. but it's pretty difficult to save up enough miles for a family vacation or something in that time IMO.

The cash back cards are credited to you yearly.. you can then choose to save that money indefinitely or use it right away.. but it never gets taken away, and nobody ever says sorry you don't have enough to redeem so you forfeit them..
 
just_luc said:
The problem with the airmiles /aeroplan cards is that the reward miles expire in 5 / 7 years respectively.. if you want a free blender or something every few years that's fine.. but it's pretty difficult to save up enough miles for a family vacation or something in that time IMO.

The cash back cards are credited to you yearly.. you can then choose to save that money indefinitely or use it right away.. but it never gets taken away, and nobody ever says sorry you don't have enough to redeem so you forfeit them..
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Thats true! Rbc rewards on the other hand dont expire until you close you credit card account.
 
I have a gold Amex. it kinda sucks, the rewards are great and the card looks nice but it doesn't get accepted in lots of places and the annual fee is dumb ($150).

I got it for free but they'll want me to pay next year. So i plan to cancel before then. TD offered me a first class for free. So I'll try that.

I have a Scotia Momentum for recurring payments and groceries (2% back)
 
For all of our day to day purchases we use PC MasterCard. No fees and 1% back in groceries.

For business I mostly use the TD Gold Select VISA, esp for car rentals to get the insurance. No fees on this card either. Did use the TD Business Travel VISA in my last job in which I had a lot of recurring and travel expenses. Annual fee but earned lots of $$$ in free travel (you don't have to book through their agency, just apply the reward money against any travel you put on your card).
 
just_luc said:
The problem with the airmiles /aeroplan cards is that the reward miles expire in 5 / 7 years respectively.. if you want a free blender or something every few years that's fine.. but it's pretty difficult to save up enough miles for a family vacation or something in that time IMO.

The cash back cards are credited to you yearly.. you can then choose to save that money indefinitely or use it right away.. but it never gets taken away, and nobody ever says sorry you don't have enough to redeem so you forfeit them..
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I thought they only expired if the account had no activity on it after that amount of years?
 
I use MBNA smart cash world and get 2 $50 cheques every month. I dump all my business expenses on there. If I wanted travel rewards I would've gone for Avion. Otherwise, if I qualified I would've gotten Scotia momentum infinite visa which is 4% for gas and groceries. I would suggest you ask rfd about credit cards. Lots of people there do hardcore calculations etc...
 
Joe250 said:
I thought they only expired if the account had no activity on it after that amount of years?
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Nope.. they expire no matter what now. Redeem by a certain date... not enough to redeem for what you want before the expiry date? sorry about your luck! Guess you should have spent more!

Incredibly annoying seeing as each and every mile is bought and paid for when they were issued to you, and no refund is given when they are yanked from your account.
 
LiNK666 said:
I use MBNA smart cash world and get 2 $50 cheques every month. I dump all my business expenses on there. If I wanted travel rewards I would've gone for Avion. Otherwise, if I qualified I would've gotten Scotia momentum infinite visa which is 4% for gas and groceries. I would suggest you ask rfd about credit cards. Lots of people there do hardcore calculations etc...
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I believe unless you are spending more than 800 on groceries and gas per month, the Smart Cash > Scotia Momentum Visa Infinite.
 
OpenGambit said:
I believe unless you are spending more than 800 on groceries and gas per month, the Smart Cash > Scotia Momentum Visa Infinite.
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One of my suppliers gets counted as a grocery store for some reason... Usually ordering 1K+/week from this supplier so yes. Gas is around 1k/mo also
 
LiNK666 said:
One of my suppliers gets counted as a grocery store for some reason... Usually ordering 1K+/week from this supplier so yes. Gas is around 1k/mo also
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then why wouldn't you qualify...?
 
daisoman said:
Td visa gold auto. $99 annual fee but comes with caa-like membership with unlimited tows. Plus 1% cash back with 19% interest

Capital one MasterCard no annual with 5.99% interest
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I have the td gold but don't pay the fee because of the bank account I have.
 
Surprised nobody's mentioned TD Drivers Rewards VISA. You accumulate points that you can use towards any automotive related purchase (new car, parts, or service).
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