Rewards

The Best Credit Cards In Canada 2016

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Can there really be one single BEST credit card?

Honestly, nailing that down is pretty hard because everyone's preferences are different. Credit cards offer so many types of rewards, features, insurance, and perks that comparing them against each in an apples to apples way seems nearly impossible...

But, I was foolish enough to try.

5 years ago I made my first attempt at ranking Canadian credit cards. That first attempt was good but not great - I held back from naming THE best card. I continued to track more cards and improve the system year over year. Thousands of hours have been invested...

Today, 124 cards of all types are tracked and ranked using 40+ unique ranking factors to determine which are really best. Finally, there can be one true champion that is best for most Canadians.

Of course, the decision of whether the winner meets your needs is all yours ... but you won't find a better starting point than this: Keep reading » about The Best Credit Cards In Canada 2016

Which Aeroplan Credit Card is REALLY Best?

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Aeroplan is the most popular airline rewards program in Canada and any serious collector should have a matching credit card to earn the most miles. Figuring out which Aeroplan credit card is best though isn't an easy task.

I've done all the work for you by comparing each card across 40+ different ranking factors including Aeroplan mile earning rates, sign up bonuses, annual fees, bonus spending categories, 15 types of insurance coverage, exclusive Air Canada benefits, and a long list of other perks that these cards offer.

After the dust settles, each card is left with a single unbiased score out of 5 proving which card really is top dog. A single easy number to help you make the right decision.

Aeroplan Credit Cards Compared and Ranked for 2016

You might think this is just a comparison between Aeroplan branded American Express and CIBC cards. You'd be wrong. TD recently launched 3 brand new Aeroplan branded choices into the fray and cards that earn points that can be easily converted to Aeroplan miles shouldn't be left out either. In all 14 different Aeroplan credit cards have been compared and ranked in the table below from best to worst. Keep reading » about Which Aeroplan Credit Card is REALLY Best?

Which AIR MILES Credit Card Is Best For 2016?

bestairmilescreditcards.jpgTwo out of every three Canadians collects AIR MILES and, if you want to maximize your rewards, having an AIR MILES credit card just makes sense!

But why settle for any old card, when you could be earning a lot more miles and experiencing a lot more perks by getting the best one?

Figuring out which one is best is easier said than done though ... that's why I analyze every single detail of these cards and then rank them using a comprehensive system I personally developed over the last five years.

No more comparing feature by feature trying to weigh the pros and the cons - you can rest assured that the top card on my list is the best fit for most Canadians. My rankings are also continually updated so you can be sure you aren't getting stale information.

AIR MILES Credit Cards Compared And Ranked

The cards in the table are ordered from best to worst. Please note that the table scrolls horizontally by using the slider at the bottom.

  Credit Card
Apply BMO AIR MILES World Elite MasterCard
Apply American Express AIR MILES Platinum Credit Card
(low min. income!)
Apply BMO AIR MILES World MasterCard
Apply Hudson's Bay MasterCard
Apply BMO Sobeys AIR MILES MasterCard
Apply American Express AIR MILES Reserve Credit Card
Apply American Express AIR MILES Credit Card
Apply BMO AIR MILES MasterCard
Score Miles Per $100 Spent Bonus Miles Annual Fee First Year Free? Extra Cards $25,000 Spend Score $100,000 Spend Score Insurance Score Perks Score
5.0 10.0 1,000 $120 No $50 4.6 5.0 5.0 2.9
3.3 8.0 2,000 $65 Yes Free 4.6 3.2 1.0 2.8
3.0 6.9 0 $99 No $35 3.4 1.4 4.2 1.6
2.6 6.3 0 $0 Yes Free 5.0 1.7 0.0 2.2
2.4 5.5 400
500*
$0 Yes Free 4.6 0.8 0.8 2.2
2.2 8.0 2,400 $299 No $50 0.0 0.4 2.7 5.0
2.1 5.2 500 $0 Yes Free 4.4 0.4 0.2 2.4
2.0 4.8 0
2x*
$0 Yes Free 4.2 0.0 0.8 1.9
* Limited time promotion ending soon.
Keep reading » about Which AIR MILES Credit Card Is Best For 2016?

10 Best Travel Credit Cards in Canada for 2016

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Travel credit cards give you both the highest reward return on your spending and the best insurance and perks of any type of credit card.

The catch?

Their rewards programs can be confusing and comparing apples to apples can seem impossible when every rewards program is completely different.

I've taken all the hassle out of finding the best card and compared every travel card available on the Canadian market. My comprehensive ranking system developed over the past 5 years uses more than 40 factors to rank cards from best to worst comparing only apples to apples. You just need to look at one simple score to know which card will give you the best overall value.

You will be flying off to your next vacation hotspot much sooner than you think! With the #1 ranked card you can earn $1,763 worth of free flights in the first year if you spend $2,083 per month on the card on stuff you would be buying anyway. That number factors in points earned both from spending and the 25,000 point sign up bonus you automatically qualify for. The best part? It's all at no cost to you because the $150 annual fee is waived for the first year.

2016 Travel Rewards Credit Card Rankings

Keep reading » about 10 Best Travel Credit Cards in Canada for 2016

10 Best No Fee Travel Credit Cards in Canada for 2016

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Finding no fee travel credit cards is kind of like looking for Bigfoot - sightings are pretty rare indeed...

Reason being that annual fees are needed to allow for the increased rewards, insurance coverage, and perks that these cards typically offer.

While you are unlikely to find Bigfoot no matter how hard you look, fortunately there is still some Canadian no fee travel plastic in the wild. If points and miles are completely new to you, then this is a great starting point for you to figure out how everything works without any risk.

Once you've got it all figured out, you'll probably want to graduate to a top tier travel credit card that will rack up rewards faster and give you many additional perks.

2016 No Fee Travel Rewards Credit Card Rankings

Keep reading » about 10 Best No Fee Travel Credit Cards in Canada for 2016

Free Gift Card Offers (Up To $100 To Popular Stores)

free_gift_card_offers_up_to_100_to_popular_stores2.jpgI've been touting free gift card offers on this site for a long time now: see here, here, and here. Most of them have been a free $100 gift card to Amazon.ca or another popular Canadian store in return for applying for an awesome credit card that earns you even more free money in cash back or travel rewards.

These credit cards usually also come with no annual fee (at least for the first year) and sometimes a hefty points sign up bonus to boot. Then, after the first year, there is no obligation to continue with the card if you decide it isn't for you. It's really a fantastic deal and one I've taken advantage of several times myself.

Since this has become a pretty regular thing, I thought I should make a permanent page that lists legitimate free gift card offers that I am aware of and will continue to update at the beginning of every month.

Proof That It Works

Keep reading » about Free Gift Card Offers (Up To $100 To Popular Stores)

Couples: Stop Fighting And Save Money With Planshare

couplesstopfightingandsavemoneywiththissimplesolution.jpgThis article is sponsored by BMO.

Managing your own money can be a stress inducing endeavour.

Throw in another person with a completely different personality, wants, and ideas and soon emotions can fly and tempers erupt.

In fact 17% of survey respondents in a recent BMO survey stated that they argue with their partner about their finances on a weekly basis. Turn those weeks into months and years, and you can bet that percentage rises substantially.

I’ve been there - and maybe you have too...

...You’re now living with the person you love and, at the bare minimum, you have to figure out how to split your expenses.

Or, you can dive in deep and merge your money together completely. Let’s be honest, it’s a little lot scary.

BMO PlanShare Provides Flexible Banking For Couples

Keep reading » about Couples: Stop Fighting And Save Money With Planshare

Collecting AIR MILES At Shell: Still Worth It?

collectingairmilesatshellstillworthit.jpgRoyal Dutch Shell, the second largest Big Oil company in the world, operates about 1,300 Shell branded retail stations in Canada.

Rather than offer their own rewards program like Petro-Canada’s Petro-Points or Esso Extra, Shell is a sponsor of the AIR MILES Reward Program. Customers that fill up at Shell can earn AIR MILES on eligible purchases at participating stations in addition to the miles that can be earned with other retail partners.

Shell recently changed their rewards structure yet again. It used to be that you earned 1 mile for every $20 spent on gas. Then, it became 1 mile on the first $30 and 1 mile per $20 spent in the same transaction thereafter.

Now, getting that first mile is much easier with only a 15L purchase required, but chances are it will be the only mile you earn on a single fill up. Have they gone too far with the changes this time?

Read on to see exactly how earning miles at Shell works and how you can maximize your rewards.

Earning AIR MILES with Shell

Keep reading » about Collecting AIR MILES At Shell: Still Worth It?

The Best Use Of Petro Points

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Petro-Canada offers the Petro-Points loyalty program. Members can collect points and exchange them for fuel, car repair and store purchases at any of the 1,500 Suncor branded gas stations.

There is no annual membership fee associated with the Petro-Points program. Sign up at a station to receive a card immediately. Signing up online gives the option to print a temporary card until one arrives in the mail. In each instance, an online account will need to be created and the card number registered. Rewards are redeemed using the online account.

Here’s everything you need to know about collecting Petro-points with Petro-Canada.

Earning Petro-Points

Keep reading » about The Best Use Of Petro Points

The Best Bang For Your Esso Extra Points

thebestbangforyouressoextrapoints.jpgEsso Extra is a loyalty program offered by Esso, one of the largest gas retailers in Canada. It offers everyday rewards like car washes, gift cards and fuel to entice drivers to fill up at one of the 1,700 Imperial Oil branded gas stations.

The Esso Extra program is free to join and there are no annual membership fees. You can join online or become a member at any station with your name, a valid email and Canadian address. Once the Esso Extra card has been received, you will need to create an online account to register the card number. The online account is also used for redeeming rewards.

With the current price of regular running about $1.05/L, an average Canadian family that drives 20,000 KM/year in a vehicle with a combined city/hwy fuel economy of 9L/100 KM would pay $1,890 for a year’s worth of fuel. How many points would be accumulated and what would be the best way to use those points? Here’s what you need to know.

Earning Esso Extra Points

Keep reading » about The Best Bang For Your Esso Extra Points

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