Canadian Credit Cards - Best Perks
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Thread: Canadian Credit Cards - Best Perks

  1. #1
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    Canadian Credit Cards - Best Perks

    Sorry if there's already a similar thread, but I couldn't find it, hence this one.

    As mentioned elsewhere, both here and on other forums, Tangerine is making disappointing changes to its MasterCard. In addition, Chase's Amazon.ca Visa is no longer open to new applicants causing some to believe this card is going the way of the dodo.

    Since these are currently my primary cards, I'm now looking at possible replacements--particularly for 0% forex. I came across the Home Trust Preferred Visa on RFD. No one seems to have it, though; just a bunch of talk on the forum of its existence. Also suggested was the Fido MasterCard, but I don't quite care for how they combine their cash back and '0%' forex fee, so I'm leaning towards the Home Trust card, should I qualify.

    Does anyone have any experience with either card, or another to suggest with no annual fee?


  2. #2
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    Does anyone have any experience with either card, or another to suggest with no annual fee?
    I just don't understand why people so scared of annual fees. For example we have CIBC Visa, annual fees is about $90, but we get 4% cash back on groceries and gas, 2% on Tim Hortons and Telus and 1% on everything else, so every year we earn much more than $1,000 in rebates

  3. #3
    Senior Member Mookie's Avatar
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    Have you checked Greedyrates? Whether you're looking for cash back, travel rewards, or no fee credit cards, they've probably got something for you.

    http://www.greedyrates.ca

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    Quote Originally Posted by gibor365 View Post
    I just don't understand why people so scared of annual fees. For example we have CIBC Visa, annual fees is about $90, but we get 4% cash back on groceries and gas, 2% on Tim Hortons and Telus and 1% on everything else, so every year we earn much more than $1,000 in rebates
    I'm a single person who doesn't spend that much on groceries, nor do I have a car, and I don't eat at Tim Horton's. I will likely keep my Tangerine MC as I do my primary banking w/ Tangerine and it's easiest to make payments on that card, but a significant amount of my spending is done in USD, hence the preference for no forex fees.

  6. #5
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    Quote Originally Posted by Mookie View Post
    Have you checked Greedyrates? Whether you're looking for cash back, travel rewards, or no fee credit cards, they've probably got something for you.

    http://www.greedyrates.ca
    Interesting website, ...and got card that I own CIBC Dividend Visa Infinite

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    I use TD infinite Aeroplan Visa. It is free if you have a TD All Inclusive chequing account, which in turn, is free if you maintain a $5K balance. But I travel a lot on business too so the accumulation of aeroplan miles combined, is worthwhile.
    Last edited by Dilbert; 2017-04-14 at 05:08 PM.

  8. #7
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    There is no best card. It depends on what type of rewards you want and how much you spend. In some cases, it's worth it to pay the annual fee.

    I like cashback, and I use a combination of 2 cards to maximize my rewards. I use the Cap One Costco cashback to get 3% on restaurants and 2% on gas. I use the Tangerine to get 2% on recurring bills (this one is awesome), groceries, and public transit. For everything else, I was using the Tangerine, but with the recent changes, I'll move all other spend to my Costco card. This combo works well for me, and there's no annual fees.

  9. #8
    Senior Member My Own Advisor's Avatar
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    I use a grandfathered CapOne cash back card - no annual fee and 1.5% cash back on everything. Good deal.

    I think if you shop at Costco regularly that CapOne Costco card is a good one.
    Last edited by My Own Advisor; 2017-04-14 at 09:39 AM.
    Hidden Content - Working on a $1 million portfolio and $30k per year from it.

  10. #9
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    Thanks for the tip guys, I just signed up for the Costco card as I am close to FIRE and thought it would be a good idea to have both a Visa and an MC.

  11. #10
    Senior Member m3s's Avatar
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    Quote Originally Posted by Dilbert View Post
    I use TD infinite Aeroplan. It is free if you have a TD All Inclusive chequing account, which in turn, is free if you maintain a $5K balance. But I travel a lot on business too so the accumulation of aeroplan miles combined, is worthwhile.
    Same. I also carry Marriott Rewards card for 0% forex fee and some hotel status perks (1 free hotel night/year offsets its annual fee)

    If you aren't travelling a lot for work then Tangerine Mastercard and Amazon Visa make a very good pair sans the annual fees

    I carry the Tangerine as a backup to Visa and leave the Amazon card at home for online purchases

    amat victoria curam

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