Credit Cards

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?

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Two 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
2,000*
$120 No $50 4.6 5.0 5.0 2.9
3.3 8.0 2,000 $65 No 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
500*
$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

10 Best Cash Back Credit Cards in Canada for 2016

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Just walking into your bank and taking whatever cash back credit card they offer you could be a major rip off. If your family spends a reasonable $25,000 annually on credit, you would earn $125 in cash with the worst cards. The top ranked card on my list would earn you $411 - that's more than 3x the cash - big difference, eh?

Travel rewards have become increasingly complicated and less rewarding over time, so Canadians everywhere are starting to embrace the simplicity of cash and their credit card reward of choice.

Simplicity doesn't mean that choosing a cash back card is easy though!

There are still annual fees, different bonus spending categories, insurance coverage, and other perks to consider. Not to mention subtle details like how the cash back is paid to you (statement credit, cheque, direct deposit), caps and tiers, and how often your cash is paid out. I've taken all these things into account with my comprehensive rating system - you won't find that anywhere else.

Canadian Cash Back Credit Card Rankings for 2016

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

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 None
Apply Click here

Positives:

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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

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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

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Capital One Trying To Appease Disgruntled Costco Members

capitalonetryingtoappeasedisgruntledcostcomembers.jpgCapital One’s recent credit card launch into Costco stores was really successful … maybe too successful actually!

Since day one they had an influx of new customers signing up for the Capital One Platinum MasterCard exclusively for Costco Members and it turns out that the volume was a little more than they were prepared to handle.

Shortly after the card was launched, we published a generally favourable review of the card’s features. Not long after, negative comments from disgruntled customers started pouring in quantities never before seen on HTSM.

That’s why when I was at the Canadian Personal Finance Bloggers Conference in October, I decided to approach Laurel Ostfield, the Director of Communications for Capital One Canada when I learned she happened to be attending the conference.

Laurel took the time to go through the reader comments with me one by one and informed me that they were already aware of many of the issues and had been working to resolve them as quickly as they could. She agreed to coordinate an interview for me with a representative of the Costco MasterCard within a few weeks of the conference.

She delivered on that promise and I recently spoke with both her and Simon Maycock (Vice President of Partnerships), who is responsible for the Costco credit card rollout.

I came prepared and went to bat for all the frustrated Costco customers who left those angry comments on the review. In response, Simon and Laurel were equally ready to demonstrate that they were not only taking each and every complaint seriously but they were taking real action to fix the problems.

Related: The Best Cash Back Credit Cards In Canada

What Was Everyone Complaining About Anyway?

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Do You Struggle With Credit Card Debt?

doyoustrugglewithcreditcarddebt.jpgIt’s no secret that I’m a big fan of using credit cards as a tool to positively impact on your finances through increased safety, great rewards, awesome bonuses, free insurance, and tons of other perks.

In an ideal world, each person would pay off their balance every month, not overspend due to the ease of paying with credit, and never put large emergency purchases on their credit card when disaster strikes. That’s the kind of usage I try to teach around here, but we all know that isn’t a reality for many people.

There is a much darker side to credit cards: the cycle of continually growing high interest debt that comes from living above your means and using credit cards to finance it.

Being in credit card debt is nothing to be ashamed of though. You are in good company after all, as anywhere from one third to one half of Canadians have credit card debt that they don’t pay off every month (depending on which report you read). As many as 1 in 20 believe that they may never be able to pay off their credit card debt - now that’s scary.

Debt Is Very Emotional

Keep reading » about Do You Struggle With Credit Card Debt?

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