Free Canadian Credit Check
Has anyone taken the time to compare the Credit card promotions we have
in canada, and what would offer the most value?
I currently use a Airmiles Mastercard from Bank of Montreal. But at 1
airmile per $40, it doesn't really offer me much in value.
I have a canadian tire store credit card, that i use also, and it gives
me back a fair amount of canadian tire money. A week ago, they sent me
some mail telling me that they are going to automatically upgrading all
the store card users to the their Canadian Tire Mastercard. Same amount
of canadian tire money back, but now I'll be able to use it everywhere.
I've looked around, and so far this card seems to offer the most
'money' back for using it. Has anyone else found something better?
the only airmiles type card that seems to offer 1 airmile for $1 spent
are the aeroplan cards...but all of them that I am aware of charge an
annual fee.
I'm looking for the a no annual fee card that gives me something back.
Has anyone found something better then the canadian tire mastercard?
I've shopped around, and I found the CIBC Dividend Platinum Visa to be the
best one for me. After the first $5000 that you spend on the card per year,
you earn a rebate of 2% on the next $45,000 that you spend in that year.
The first $5000 is on a sliding scale, in which you will earn a rebate of
$37.50. Therefore the maximum rebate that you will earn in a year is
$937.50. The annual fee on the card is $79, with $30 charged for additional
cards.
I would reccomend that you look at your credit card bills for a year, and
see if it is worth it for you to pay the annual fee for the 2% rebate. I
used to travel a lot for my employer, and had travel expenses that I would
charge to my credit card of about $40,000 per year. For two years in a row,
the card put an additional $800 in my pocket. Even though I no longer
charge as much to my credit card, it is still worth my while to use it as my
primary credit card.
The best offer that I have seen elsewhere gives about 1% back without an
annual fee. For this to be a better deal than a card that gives you 1% back
without a fee, you have to spend more than $12,900 per year on your credit
card. Add another $3000 to that if you require a joint credit card.
Also keep in mind that if you travel to the US, that you should factor the
2% rebate into the exchange rate, which makes this card an even better deal.