Credit Card Reviews

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?

New Tangerine Credit Card Best For Earning Cash Back

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If you're looking for a no-fee cash back credit card that gives you the most overall cash back, you can STOP looking - you've found it!

The just-launched Tangerine Money-Back Credit Card gives you 1% cash back on all your everyday purchases with no caps or limits. Where it really leaps ahead of the pack is the 2% cash back it gives you on up to 3 bonus spending categories of your choosing. No other card on the market offers this feature, which allows you to select categories that match the places where you spend the most money.

Are you a big foodie and spend a lot at restaurants and the grocery store? Just choose Grocery and Restaurants as 2 of your bonus categories and you'll instantly double your cash back on those purchases. Have lots of medical expenses or love Shoppers Drug Mart like I do? Select Drug Store as a bonus category and you'll be rewarded handsomely.

You can even select Recurring Bill Payments as a bonus category, meaning almost any bill that gets charged automatically to your card on a monthly basis will earn double the money.

Being free to choose the categories you want is much better than being pigeon holed into the typical gas and grocery bonuses that you get with other no fee cash back cards - if you're lucky!

Quick Facts

Annual fee $0
Interest rate 19.95%
Min. income No set minimum
Reward type Cash Back
Reward 1% on ALL purchases with no limits
2% on up to 3 bonus categories of your choosing
HTS reward return 1.3% of spending for a typical person after annual fee deducted
Sign-up bonus 4% cash back on your chosen bonus categories for 3 months with no limit
Apply Click here

Positives:

Keep reading » about New Tangerine Credit Card Best For Earning Cash Back

Review: SimplyCash Preferred From American Express

simplycashpreferredcardfromamericanexpress.jpgI recently reviewed the regular Simply Cash Card from American Express, which is one of the most underrated no-fee cash back credit cards in Canada. This card, the Preferred edition, is like the big brother to no-fee card in that it has higher cash back and more perks, but comes with an annual fee of $79 to account for them.

You’ll get 1.5% cash back on ALL purchases, which is a really good rate, and the annual fee is less than all of its main competitors. Everything else with $79 or less earns less cash back or has a tiered cash back system, which typically also means less overall cash back. Unfortunately, there are a few competitors with slightly higher annual fees in the $90-$120 range that offer more cash back.

However, this card definitely fills a nice niche that you will begin to appreciate as you peruse the pros and cons below. The sign up bonus that is effectively worth $400 is also nothing to sneeze at because none of the other cash back cards come close to this - they typically come in at around $100, if a bonus is offered at all.

Quick Facts

Keep reading » about Review: SimplyCash Preferred From American Express

The Simply Cash Card From American Express Is Very Underrated!

simplycashcardfromamericanexpress.jpgCanadians love their cash back credit cards, be it the Smart Cash, the Momentum, the Aspire, or one of the other cash back offerings from The Big Five Banks. However, there is one card that often gets overlooked when it comes to cash back credit cards, and it is the Simply Cash Card from American Express.

It might be flying under the radar because Amex isn’t known for cash back - most of their cards offer travel rewards. Or, it could be that the market leading 1.25% cash back on ALL purchases is just too simple for most people... it isn’t a round number after all, and that could also be a put off. More realistically, it could be because one particular store they shop at doesn’t accept Amex cards, but my experience has been that most stores will gladly take it. Even Tim Hortons, the last big cash-only hold out in Canada, now takes American Express.

Ultimately, I don’t know why more people aren’t choosing this card, but I hope to help change that with this review because it is definitely a card worth considering. It is especially good if you make a lot of everyday purchases that don’t fall into the bonus spending categories of other cards (which are often very limited anyway, as is the case with the Smart Cash).

Heck, since the card has no annual fee, I’m not sure why more people don’t just apply for it to get the massive 5% cash back on gas and grocery purchases for 6 months. If you spend $800 per month on those, that’s a cool $240 you just earned!

Quick Facts

Annual fee $0
Interest rate 19.75%
Min. income $15,000
Reward type Cash Back
Reward 1.25% on ALL purchases with no limits
HTS reward return 1.25% of spending for a typical person after annual fee deducted
Sign-up bonus 5% cash back on gas & groceries for 6 months - $250 maximum.
Apply Click here

Positives:

Keep reading » about The Simply Cash Card From American Express Is Very Underrated!

Scotia Momentum Visa Infinite Review

scotiamomentumvisainfinitereview.jpgRight now this card is considered the top cash-back card in the country – and for good reason. With 4% cash back on gas and groceries, the rewards can really add up quickly. A typical family that spends $25,000 annually ($2,083 per month) on the card would earn in the vicinity of $625 in cash back during the first year alone!

Quick Facts

Annual Fee $99
Interest Rate 19.99%
Min. Income $60,000 personal, $100,000 household
Reward Type Cash Back
Reward 4% gas and groceries, 2% drugstore and recurring bills, 1% everything else
Reward Return 1-4% of spending
Sign Up Bonus First year free.
Apply Click here

Positives:

  • Highest percentage cash back for gas and groceries of all cash back cards.
  • 2% cash back for recurring bills – the opportunity to move all monthly payments onto the card to maximize the cash back.
  • High annual limits in the gas and groceries cash back category (maximum spend of $25,000 per year).
  • First year annual fee of $99 waived for new applicants (limited time).
  • A very good insurance package for a cash back credit card, including travel insurance.
  • 20% discount on Avis car rentals.

Negatives:

  • High annual fee of $99 compared to some other cards along with a $30 fee for each additional card.
  • High minimum personal or household incomes needed to qualify. They may be somewhat flexible on this depending on your credit history.

Insurance Package:

  • Extended warranty - up to one year.
  • Purchase protection - 90 days.
  • Travel accident - $500,000.
  • Emergency medical - 15 days.
  • Trip interruption - $2,000.
  • Flight delay - $500.
  • Baggage delay - $500.
  • Lost or stolen baggage - $500.
  • Rental car collision insurance.

Cash Back Analysis

Keep reading » about Scotia Momentum Visa Infinite Review

BMO Air Miles World MasterCard Review

bmoairmilesworldmastercardreview.jpgThis card is a good choice for anyone with a high annual spend that wants to collect Air Miles at a faster rate than the regular BMO Air Miles MasterCard, and also flies often to take advantage of the 25% discount on the number of required Air Miles for each flight.

Quick Facts

Annual Fee $99
Interest Rate 19.90%
Min. Income $60,000 personal, $100,000 household
Reward Type Travel Points
Reward 1 mile per $15 spent, 25% bonus at Shell, 100% bonus at Avis and National car rental
Reward Return 0.7-1.25% of spending (depending on how you value Air Miles)
Sign Up Bonus None
Apply Click here

Positives:

  • Exclusive 25% discount when redeeming Air Miles for flights.
  • The highest earning rate of all BMO Air Miles cards.
  • 25% bonus (Air Miles) at Shell locations, 100% bonus (Air Miles) at National and Alamo Car Rental and 25% off regular rental rates.
  • No limit to the amount of Air Miles rewarded.
  • Easy to use, straight forward online account access through BMO.
  • Some extended warranty and travel benefits available.

Negatives:

  • $99 annual fee is high for the accrual rate you get.
  • High minimum personal ($60,000) or household ($100,000) incomes needed to qualify. They may be somewhat flexible on this depending on your credit history.
  • Few good opportunities to earn bonus miles above and beyond the regular rate.
  • The platinum Air Miles card from American Express has similar earning rates and perks for a lower annual fee.
  • No sign up bonus except during promotions.

Insurance Package:

  • Extended warranty - up to one year
  • Purchase protection - 90 days
  • Travel & car insurance coverage

Air Miles Rewards Analysis

Keep reading » about BMO Air Miles World MasterCard Review

Capital One Costco Platinum MasterCard Review

capitalonecostcoplatinummastercardreview.jpgThe Capital One Costco Platinum MasterCard is a strong no annual fee cash back credit card that is geared towards Costco members who eat at restaurants regularly and spend a significant amount each month on fuel.

Its main strengths are that it is one of the few credit cards that gives significantly higher rewards on restaurant purchases and that it integrates your Costco membership and credit card into a single card so you can lighten your wallet. It’s also among the few cards that offers price protection/matching if you find a lower price on any product you’ve purchased using the card.

Quick Facts

Annual Fee $0
Interest Rate 19.75%
Min. Income No minimum
Reward Type Cash Back
Reward 3% restaurants, 2% gas, 1% everything else
Reward Return 0.5%-3% of spending
Sign Up Bonus Double cash back for the first 3 months
Apply Click here

Positives:

  • No annual fee for both primary and secondary cards.
  • 3% cash back on restaurants, 2% on gas, and up to 1% on everything else.
  • No limit to the amount of cash back you can earn.
  • Doubles as your Costco card with your picture on the back.
  • Price protection for items purchased using the card that decrease in price within 60 days (up to $100 per item and $500 per year).
  • Extended warranty coverage on purchases (up to two years) and purchase protection against theft or damage (up to 120 days).

Negatives:

  • Have to be a Costco member to qualify for this card, which costs $55 annually.
  • Although this is a Costco-branded card, there is no additional incentive to shop at Costco.
  • The ‘everything else’ spending category is tiered – you receive 0.50% on the first $3,000 and 1% on everything beyond that. This essentially works out to a hidden annual fee of $15 when compared to other no-fee 1% cash back cards.
  • The ‘cash back’ comes once per year by snail mail as a rebate. The rebate must be redeemed at a Costco store where it can be converted to either actual cash or Costco store credit.
  • There are much better no fee cash back credit cards out there.

Insurance Package:

  • Extended warranty - up to two years.
  • Purchase protection - 120 days.
  • Travel accident insurance - up to $250,000.
  • Car rental coverage - collision / loss damage waiver (LDW).
  • Baggage delay insurance - $300.

Cash Back Analysis

Keep reading » about Capital One Costco Platinum MasterCard Review

BMO Air Miles Mastercard Review

Class Standard
Type MasterCard
Issuer Bank of Montreal
Annual Fee $0
Interest Rate 19.90%
Min. Income N/A
Reward Type Points
Reward 1 mile / $20 spent
Reward Return 0.5% to 0.75% of spending
Sign Up Bonus 400 miles (limited time)
Grace Period 21 days
Apply Sign Up!
The BMO Air Miles Mastercard is a good choice for anyone with low to moderate annual spending on their credit card that wants to collect Air Miles without paying an annual fee.

Positives:

  • No annual fee (no fee for additional cards).
  • 25% bonus (Air Miles) at Shell locations, 50% bonus (Air Miles) at National and Alamo Car Rental.
  • No limit to the amount of Air Miles rewarded.
  • Easy to use, straight forward online account access through BMO.
  • No minimum annual income requirement, great way for those with low credit scores to build their credit history.
  • Extended warranty coverage on purchases (up to one year) and purchase protection against theft or damage (up to 90 days).

Negatives:

Keep reading » about BMO Air Miles Mastercard Review

Best Deal EVER On The Scotia Momentum Visa Infinite 4% Cash Back Credit Card

Scotia Momentum Visa Infinite Credit CardThe Scotia Momentum Visa Infinite has been one of the best cash back credit card available to Canadians for the past couple of years after the MBNA Smart Cash was slightly devalued, but there were two big things stopping many Canadians, including myself, from applying for one.

  1. The $99 annual fee.
  2. No sign up bonus for applying, so why switch?

For the first time ever, and for a limited time, both of those things have changed! The $99 annual fee has been waived for the first year AND RateSupermarket has teamed up with Scotiabank to offer a $100 gift card of your choice to one of over 50 popular Canadian retailers for applying and being approved (gift card offer ended).

Link: Annual fee waived for the first year

Why It's One Of The Best Cash Back Cards In Canada

Keep reading » about Best Deal EVER On The Scotia Momentum Visa Infinite 4% Cash Back Credit Card

Capital One Aspire World MasterCard

Class World
Type MasterCard
Issuer Capital One
Annual Fee $120
Interest Rate 19.8%
Min. Income $70,000
Reward Type Travel Points
Reward 2 points / $1 spent
Reward Return 1.5-2%
Sign Up Bonus 35,000 points
Grace Period 25 days
Apply Sign Up!
 

In the recently stagnant Canadian credit card market, the Capital One Aspire World MasterCard is like a breath of fresh air and is garnering a lot of attention because it breaks the mould of typical travel rewards credit cards in several ways. First, it awards you two points per dollar spent, as opposed to the typical one. Second, it gives you a high sign up bonus of 35,000 points that is worth up to $350 in travel. Third, it has an annual renewal bonus of 10,000 points worth about $100 in travel that nearly pays for the cost of the annual fee before you do any spending on the card. Keep reading » about Capital One Aspire World MasterCard

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