With their high interest rates, credit cards can become a maw of doom for people with credit issues. For everyone else though, they can be a great way to defer your payments by a week or two and earn rewards at the same time. I’ve been looking into my credit cards and figured that it’s time to upgrade my Mastercard. A few years ago I got my BMO no-fee Mozaik card, which gives me 1 air mile for every $40 I spend (an approximate return of about 0.35%), which was a pretty good offer at the time. Now, however, that rate of return is a little lacklustre. Part of the problem is that Air Miles have been devalued in the last year or two (they used to be worth about 16 cents each, and now are just above 14 cents each — based on the number of Air Miles required to get a gift certificate), and part is that other no-fee rewards cards have come out and become competitive. Right now I’m trying to decide between the PC Financial Mastercard, which essentially returns 1% good for groceries at any Loblaws\/Supercenter\/Valu-Mart\/No Frills, and a Canadian Tire Mastercard, which won’t tell me its rate of return but which I believe is also 1%, good for stuff at Canadian Tire. I’m leaning towards the PC card for a number of reasons, mostly because I also have my chequing account there so things will just be easier.<\/p>\n
While I’m not looking for a Visa card, TD has a cash back Visa that can return up to 1%. My RBC Gold Visa also gives a return of about 1% (though it is a fee-based card; of course, I have that card for other perks like free insurance on certain purchases). <\/p>\n
So 1% looks to be the rewards level to shoot for these days. Does anyone know of any cards with even higher rewards? I’d really prefer a no-fee card, but might run the numbers for a card with an annual fee and higher rewards to see if it makes sense. Does anyone have any other recommendations? (I’m not really interested in getting an AmEx card — I haven’t found a single place that would take AmEx but not Visa\/MC, and I’m not interested in a card from MBNA since their telemarketers drove me crazy).<\/p>\n","protected":false},"excerpt":{"rendered":"
With their high interest rates, credit cards can become a maw of doom for people with credit issues. For everyone else though, they can be a great way to defer your payments by a week or two and earn rewards at the same time. I’ve been looking into my credit cards and figured that it’s […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,16],"tags":[],"_links":{"self":[{"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/posts\/415"}],"collection":[{"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=415"}],"version-history":[{"count":0,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=\/wp\/v2\/posts\/415\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.holypotato.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.holypotato.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}