Looking for a new Visa card
I currently have a CIBC Dividends Visa card, and am looking to replace it with another Visa. Preferrably a travel rewards card, but am happy with cash back too.
I am happy with my Amex and my Mastercard, and feel like they are on-par with the top no-fee rewards cards (Amex gets 1.25% back on travel and Mastercard gets 1% back on groceries, both with no annual fee). And I could just get rid of the Visa altogether, but I like having 1 of each card.
But the CIBC Dividends Visa card is lacking because it’s on a tiered system of up to 1% cash back.
- Tier one – 0.25% rebate for net annual purchases up to $1,500
- Tier two – 0.50% rebate for net annual purchases from $1,500.01 to $3,000
- Tier three – 1% rebate for net annual purchases over $3,000
Boo-urns to that.
So I’ve been searching the internet, using www.rewardscanada.ca and www.creditcardsearch.ca (although it hasn’t been updated since 2008) as resources, and trying to pick the best card for my needs. Red Flag Deals is also a good resource. I’m taking the search very seriously, maybe too seriously. But a good rewards credit card is important! I’d even consider paying an annual fee if the rewards were good enough – since I use my credit cards for 99% of my purchases anyway, I might as well get as much as I can for it. But I would definitely prefer not paying an annual fee, even if it means the rewards are less. I’m looking for a Visa that will give me at least 1% back in either cash or travel rewards.
Paying everything by credit card takes a lot of discipline, especially for someone like me who used to be in credit card debt and lived maxed out for a few years. I wouldn’t recommend paying everything by CC unless you’re confident in your ability to pay the card off without fail, every month. I pay mine off at the end of every week.
How many credit cards do you have?
Also, any Visa card recommendations?
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I used to have that card til I discovered their trickery! Now I use CitiBank Enrich. It gives a full 1% up to $250 annually. There is no annual fee. And the cheque is mailed off every year in February. I love it!
I used to have that card til I discovered their trickery! Now I use CitiBank Enrich. It gives a full 1% up to $250 annually. There is no annual fee. And the cheque is mailed off every year in February. I love it!
Yeah and I also don't like how the Dividends Visa just puts your cash back reward onto the credit card! What if I wanted that money to save it!!! Getting a cheque in the mail sounds like a much better idea.
I'm a bit torn. I have an RBC card that gives RBC points, which I use towards RRSPs (15,000 for the first 100 bucks, and I think 12,000 for any subsequent 100). It's a solid no-fee card.
On the other hand, hubby has the CIBC Aerogold VISA, which although it has a fee, gets us wads and wads and wads of Aeroplan points. We've had a few trips so far, and by December, we should have enough for us to go Ottawa-India return. Plus it has good travel insurance coverage.
Given the amount of travelling we do (and would like to do), I've often considered switching over to the CIBC Aerogold, but the fee is tough to swallow if we BOTH have to pay it. He collects enough on his own for us to travel on.
Could you not just get an additional card for $50 annual fee tacked onto his Aerogold Visa card?
I'm a bit torn. I have an RBC card that gives RBC points, which I use towards RRSPs (15,000 for the first 100 bucks, and I think 12,000 for any subsequent 100). It's a solid no-fee card.
On the other hand, hubby has the CIBC Aerogold VISA, which although it has a fee, gets us wads and wads and wads of Aeroplan points. We've had a few trips so far, and by December, we should have enough for us to go Ottawa-India return. Plus it has good travel insurance coverage.
Given the amount of travelling we do (and would like to do), I've often considered switching over to the CIBC Aerogold, but the fee is tough to swallow if we BOTH have to pay it. He collects enough on his own for us to travel on.
Could you not just get an additional card for $50 annual fee tacked onto his Aerogold Visa card?
I been looking for a good Visa CC as well, they don't seem to have good deals like Mastercard so it's been tough to find a good one. The best one I could find that have their annual fee waived is the TD First Class Travel Visa Infinite Card but you have to be banking with TD and have their highest cost chequing account, which is a huge drawback. I'll be following along with the comments to see what people find as the best cash back Visa.
I been looking for a good Visa CC as well, they don't seem to have good deals like Mastercard so it's been tough to find a good one. The best one I could find that have their annual fee waived is the TD First Class Travel Visa Infinite Card but you have to be banking with TD and have their highest cost chequing account, which is a huge drawback. I'll be following along with the comments to see what people find as the best cash back Visa.
I just have a reular TD visa and an American Express Air Miles card right now. I like getting the air miles but I have also been thinkin of switching to a different VISA that has rewards. I don't really like any of TD's options, but I like having one from where I bank..so im not sure yet. But thanks for posting those rewards sites I am going to check them out!
My recent post Getting New Glasses!
I just have a reular TD visa and an American Express Air Miles card right now. I like getting the air miles but I have also been thinkin of switching to a different VISA that has rewards. I don't really like any of TD's options, but I like having one from where I bank..so im not sure yet. But thanks for posting those rewards sites I am going to check them out!
My recent post Getting New Glasses!
Hey Krystal, I saw your tweet, here is my list of top free cash back credit cards in Canada. I'm big into rewards points, so let me know if you have any questions. http://www.milliondollarjourney.com/top-cash-back…
My recent post Why the Long Term Growth of the Economy is Not Relevant to Investing
Hey Krystal, I saw your tweet, here is my list of top free cash back credit cards in Canada. I'm big into rewards points, so let me know if you have any questions. http://www.milliondollarjourney.com/top-cash-back…
My recent post Why the Long Term Growth of the Economy is Not Relevant to Investing
Rewards programmes here are atrocious. I'm still ahead with mine, but I'd really like to get more out of it. I'm having a bit of a look around but it doesn't seem there are any better deals available that suit me. And I've never encountered one without an annual fee!
I budget weekly, so yeah, I pay mine off every week too. Excepting mystery shopping purchases, which sit on there until I'm reimbursed for the expense at the end of the month.
Rewards programmes here are atrocious. I'm still ahead with mine, but I'd really like to get more out of it. I'm having a bit of a look around but it doesn't seem there are any better deals available that suit me. And I've never encountered one without an annual fee!
I budget weekly, so yeah, I pay mine off every week too. Excepting mystery shopping purchases, which sit on there until I'm reimbursed for the expense at the end of the month.
Have you thought about American Express? To be honest, I haven't used them for a while now, but Back In The Day they gave a sweet points deal. I took a lot of trips (Vancouver – Yellowknife) thanks to them.
My recent post Live Blog- Jack Layton NDP whistlestop in Yellowknife
I actually do have an American Express Blue Sky credit card! :) I love it, but really want to replace my dumb Visa.
Have you thought about American Express? To be honest, I haven't used them for a while now, but Back In The Day they gave a sweet points deal. I took a lot of trips (Vancouver – Yellowknife) thanks to them.
My recent post Live Blog- Jack Layton NDP whistlestop in Yellowknife
I actually do have an American Express Blue Sky credit card! :) I love it, but really want to replace my dumb Visa.
I only have one credit card in my wallet but about to have two. I am getting the scotiabank momentum. It does have an annual fee of $39 but you get 2% cash back on gas (ie. esso, petro) , grocery, drug stores and recurring payments (ie. cell phone etc.) and 1% on everything else. I am sure there are max limits but not sure what they are. Good luck on finding the right card for you.
My recent post Impromptu Family Vacation
I only have one credit card in my wallet but about to have two. I am getting the scotiabank momentum. It does have an annual fee of $39 but you get 2% cash back on gas (ie. esso, petro) , grocery, drug stores and recurring payments (ie. cell phone etc.) and 1% on everything else. I am sure there are max limits but not sure what they are. Good luck on finding the right card for you.
My recent post Impromptu Family Vacation
Another vote for the CIBC Aerogold here. I use the credit card to pay for everything, so the annual fee is offset by the incredible amount of aeroplan miles I earn. You're right, it does take extreme discipline to use a CC for all purchases. It is a slippery slope to credit card debt. I pay mine off every two weeks on payday. They don't get one cent of interest form me, so I can live with the annual fee and my bucket-o-aeroplan miles! I have other credit cards but this one is my go-to card.
Another vote for the CIBC Aerogold here. I use the credit card to pay for everything, so the annual fee is offset by the incredible amount of aeroplan miles I earn. You're right, it does take extreme discipline to use a CC for all purchases. It is a slippery slope to credit card debt. I pay mine off every two weeks on payday. They don't get one cent of interest form me, so I can live with the annual fee and my bucket-o-aeroplan miles! I have other credit cards but this one is my go-to card.
I actually use the Amazon.com Visa (through JP Morgan). I make a lot of my purchases through Amazon, and any purchases through there with that card are 3% back. From their overview:
Earn 3 points on eligible Amazon.com purchases
Earn 2 points on eligible gas, dining, and drugstore purchases
Earn 1 point on purchases everywhere else
So…..1-3%, depending on where you make the purchases. It used to only take 2500 points to redeem for $25, now they made it 5000 for $50. You can choose cash back, travel rewards, gift certificates to certain places, a statement credit, or a couple other things. I like it!
My recent post Weekend Recap
I actually use the Amazon.com Visa (through JP Morgan). I make a lot of my purchases through Amazon, and any purchases through there with that card are 3% back. From their overview:
Earn 3 points on eligible Amazon.com purchases
Earn 2 points on eligible gas, dining, and drugstore purchases
Earn 1 point on purchases everywhere else
So…..1-3%, depending on where you make the purchases. It used to only take 2500 points to redeem for $25, now they made it 5000 for $50. You can choose cash back, travel rewards, gift certificates to certain places, a statement credit, or a couple other things. I like it!
My recent post Weekend Recap
I use CIBC and TD as my visa card (for cash back) but I rarely use them unless the place doesn't take Visa specifically. What I did was applied for a higher rewards for my Mastercard. There's one that is offering 5% cash back on all groceries and gas for the first 6 months and then 3% cash back on all groceries and gas after 6 months. You also get 1% cash back on all other puchases (not tiered). You will get a cheque every time you accumlate $50 in cash back.
I love this credit card and the link is http://www.mbna.ca/smartcash_cardList.html
When I signed up for this card, I signed it up through this website: http://www.greatcanadianrebates.ca/
You will get $40 cash back towards your paypal account if you apply for this credit card!
Check it out! It's pretty awesome!
My recent post Lunch Plans
Thanks for the tip, I'll check it out! :)
I use CIBC and TD as my visa card (for cash back) but I rarely use them unless the place doesn't take Visa specifically. What I did was applied for a higher rewards for my Mastercard. There's one that is offering 5% cash back on all groceries and gas for the first 6 months and then 3% cash back on all groceries and gas after 6 months. You also get 1% cash back on all other puchases (not tiered). You will get a cheque every time you accumlate $50 in cash back.
I love this credit card and the link is http://www.mbna.ca/smartcash_cardList.html
When I signed up for this card, I signed it up through this website: http://www.greatcanadianrebates.ca/
You will get $40 cash back towards your paypal account if you apply for this credit card!
Check it out! It's pretty awesome!
My recent post Lunch Plans
Thanks for the tip, I'll check it out! :)
I have 3 credit cards (RBC Avion, HSBC M/C Dividend Card and RBC Gold USD) but mainly only use the RBC Avion.
I have to pay annual fees for the RBC AVion ($120CAD) and Gold ($65USD), but I did the math and for the amount of money I charge onto the cards, it's worth it for me. I get RBC rewards/points and I redeem for travelling.
I can pretty much redeem for a trip to USA once a year with my RBC Avion Card. I have already redeemed for 2 flights to NY last year and I still have enough points for 2 more flights to NY or somewhere in the US.
You really need to do the math to see if paying annual fee is worth it. If it's not, just stick with the CIBC dividend card.
Plus signing up for RBC Avion and CIBC Aeroplan cards, you get bonus points.
I have 3 credit cards (RBC Avion, HSBC M/C Dividend Card and RBC Gold USD) but mainly only use the RBC Avion.
I have to pay annual fees for the RBC AVion ($120CAD) and Gold ($65USD), but I did the math and for the amount of money I charge onto the cards, it's worth it for me. I get RBC rewards/points and I redeem for travelling.
I can pretty much redeem for a trip to USA once a year with my RBC Avion Card. I have already redeemed for 2 flights to NY last year and I still have enough points for 2 more flights to NY or somewhere in the US.
You really need to do the math to see if paying annual fee is worth it. If it's not, just stick with the CIBC dividend card.
Plus signing up for RBC Avion and CIBC Aeroplan cards, you get bonus points.
I love my credit rewards cards! (Especially the travel ones, I'm not as big into the cash back ones as I am with travel). I did a post on travel rewards cards here: http://youngandthrifty.ca/credit-cards/comparison…
I have an RBC visa for esso (I rarely use it, only when they don't accept anything except for visa), a MBNA Travel Rewards Elite, and an SPG Amex (currently my primary). All are no fees.
I just booked to stay in Oahu at the Westin and Sheraton with my points for seven nights, and took a flight from Australia to Asia return on my points too.
I know you like to travel too! =)
The Petrocanada mastercard is good because you can do 1:1 Asia Miles accumulation- Asia miles are great, except they expire in 3 years time.
My recent post 6 Tips for Buying Organic On the Cheap
I love my credit rewards cards! (Especially the travel ones, I'm not as big into the cash back ones as I am with travel). I did a post on travel rewards cards here: http://youngandthrifty.ca/credit-cards/comparison…
I have an RBC visa for esso (I rarely use it, only when they don't accept anything except for visa), a MBNA Travel Rewards Elite, and an SPG Amex (currently my primary). All are no fees.
I just booked to stay in Oahu at the Westin and Sheraton with my points for seven nights, and took a flight from Australia to Asia return on my points too.
I know you like to travel too! =)
The Petrocanada mastercard is good because you can do 1:1 Asia Miles accumulation- Asia miles are great, except they expire in 3 years time.
My recent post 6 Tips for Buying Organic On the Cheap
Read the fine print on some of the cash back ones. I know of a credit card that you earn 3% back on. But you need to carry a balance the full 26% interest is charged on whatever you charged onto the card. People fall for it all the time.
Read the fine print on some of the cash back ones. I know of a credit card that you earn 3% back on. But you need to carry a balance the full 26% interest is charged on whatever you charged onto the card. People fall for it all the time.
Don't you have the CIBC Mastercard with PC points? If you have that and the Amex and another Visa, how will you choose which one to use?
I have a PC Mastercard with points. I only use my PC Mastercard for grocery shopping. My Amex is my #1 card, and my Visa I use for whenever Amex isn't accepted. If I can find a Visa that is better than Amex, I would use that as my #1 card instead.
Don't you have the CIBC Mastercard with PC points? If you have that and the Amex and another Visa, how will you choose which one to use?
I have a PC Mastercard with points. I only use my PC Mastercard for grocery shopping. My Amex is my #1 card, and my Visa I use for whenever Amex isn't accepted. If I can find a Visa that is better than Amex, I would use that as my #1 card instead.
I'm also looking for a new Visa card with good reward points in the US. Does anyone have any thoughts? Or know a good to site to browse?
I'm also looking for a new Visa card with good reward points in the US. Does anyone have any thoughts? Or know a good to site to browse?
All of the following cash rewards cards( one of each: Visa, MasterCard, American Express) offer Extended warranty protection, Auto rental Insurance etc…, they they have no annual fee and you don't have carry a balance.
Bank of America Cash Rewards Visa Signature Card 1% cash back on all purchases and no limit
Bank of America Accelerated Cash Rewards American Express Card 1.25% cash back on all purchases and no limit
Citi Dividend Platinum Select MasterCard 1% cash Back on most purchases and 2% on rotating categories I believe it is $300 cash back limit per year
All of the following cash rewards cards( one of each: Visa, MasterCard, American Express) offer Extended warranty protection, Auto rental Insurance etc…, they they have no annual fee and you don't have carry a balance.
Bank of America Cash Rewards Visa Signature Card 1% cash back on all purchases and no limit
Bank of America Accelerated Cash Rewards American Express Card 1.25% cash back on all purchases and no limit
Citi Dividend Platinum Select MasterCard 1% cash Back on most purchases and 2% on rotating categories I believe it is $300 cash back limit per year
Scotiabank Momentum Infinite card has 4% cashback on groceries and gas (up to 25000$ annual spending), 2% cashback in a drugstore or recurring payments (Rogers preauthorized charge qualified) (up to another 25000$ annual spending, separate from 4% spending) and 1% cashback on everything else. There seems to be no limit on cashback amount other then $25000 annual, but no limit on 1% cashback after that. There is a 99$ annual fee, but the 4% cashback more then pays off for this.
Numbers:
$25000 @ 4% = $1000
$25000 @ 2% = $500
+ infinite $ @ 1%
so, $1500 maximum total for 4% and 2% more then pays for 99$ fee. Best deal I’ve seen so far!