Time to find a new credit card
Recently at an event in Toronto, I found out that my credit card (Capital One Aspire Travel World Mastercard) is being discontinued. I’m pretty heartbroken because it was the best travel rewards card available to Canadians, and I’ve only had it for 2 years. :| But it has served me well in that time, getting me free hotel stays and free flights to Toronto and Hawaii.
So I’m on the hunt for another rewards card. The only problem is, based on my spending, the best ones for me are American Express. And while I’m not opposed to an American Express card (even though I’ve had some problems with them in the past), so many places don’t take American Express (especially when traveling), so I’d have to get a secondary credit card as a back-up.
Here are my results, using the RateHub.ca credit card tool:
I’m leaning towards getting the ScotiaBank Gold American Express Card, and then getting a no-fee Mastercard or Visa as a back-up.
For those that are wondering, I put every purchase I can on my credit cards, but never carry a balance. I like using credit cards because I can earn points for my spending, and track every purchase I make. But they’re only valuable tools if you can pay off the balance every month. Points don’t mean anything if you’re paying more in interest every month than what the rewards are worth!
For those who also have the Capital One Aspire Travel World Mastercard, have you come up with a replacement card yet?
P.S. if you haven’t used the RateHub credit card tool, it’s really good. There’s so much information there, that it makes comparing cards really easy. :)
Author: Krystal Yee
I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.