Canadian Credit Cards - Best Perks
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  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
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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.

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    Quote Originally Posted by cedebe View Post
    and I don't eat at Tim Horton's.
    No one really "eats" at Timmy's...they merely swallow the slop and pretend its edible. I'm with you.

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    Quote Originally Posted by cedebe View Post
    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.
    I think the only way to avoid FX on USD CC purchases is to use Norbert's Gambit to convert money and then transfer to a USD account and have a USD credit card.

  6. #6
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    Quote Originally Posted by TomB16 View Post
    I think the only way to avoid FX on USD CC purchases is to use Norbert's Gambit to convert money and then transfer to a USD account and have a USD credit card.
    No, the other alternative is to get the Home Trust Preferred Visa as mentioned in my original post. I was wondering if anyone here had it, but it seems no one else has even heard of it.

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    My understanding is that existing Chase Amazon cards are fine. Chase is simply not accepting new applications.

    Our Marriott Chase card has turned out to be a real winner for us. Mainly because we have a fair amount of FX transactions and we travel quite a bit.

  8. #8
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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

  9. #9
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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

  10. #10
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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.

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