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Best Credit Card Points Program (pg. 5)
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| tvmann |
| quote: | Originally posted by Jayx1
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I refuse to pay someone yearly to use a credit card. They make 3 percent from the retailer everytime you use it not to mention interest if you dont pay it off. |
That retailer fee is why people should not use credit cards. The 3 percent (or whatever) just keeps the cost of goods high, ultimately it is the consumer who pays for the retailer fees by way of higher prices. I literally keep my card frozen in a block of ice and only thaw it out on rare occasions.
And when you have a credit card you will always consume more and spend more money than if you use cash or equivalent.
The points programs are bullcrap, they're just a scheme for the credit card companies to skim a fee from every transaction we make. |
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| *~LiSa-LoO~* |
| TD Gold elite is where it's at! I love TD. I love them even more after the 2 months of retardedness I've just had with bMO. DO NOT get a BMO Mastercard. Their fraud department is awful. |
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| Jem_hadar |
| quote: | Originally posted by *~LiSa-LoO~*
Their fraud department is awful. |
Really, ive had to deal them 2x I think over the years bc of unauthorized charges to my MC.
They were always quick on putting a freeze on my card (before I even realized something was amiss) when anything suspicious occurred and dealing with them to sort out the mess was no problem at all. Was a very painless and hassle free experience for me.
Sorry to hear otherwise for you Lisa habibi.. :( |
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| *~LiSa-LoO~* |
| quote: | Originally posted by Jem_hadar
Really, ive had to deal them 2x I think over the years bc of unauthorized charges to my MC.
They were always quick on putting a freeze on my card (before I even realized something was amiss) when anything suspicious occurred and dealing with them to sort out the mess was no problem at all. Was a very painless and hassle free experience for me.
Sorry to hear otherwise for you Lisa habibi.. :( |
They called my house mid-summer telling me there was potential fraud on my cdn credit card, and left me a couple of msgs. My dad told me (as I was living in Toronto), so I called them and they sent me a new one.
Then they called a month later and spoke to my dad about potential fraud on my u.s. credit card. There were 2 charges to the Uni. Of Detroit Mercy, and my dad told them I went to school there so it was tuition and books, but they wanted to talk to me. I called, and one of the secerity questions was what school do I go to - so they KNEW I went to the Univ. of Detroit Mercy. But, whatever...they were just being safe.
A couple days ago I got my cdn credit card bill - the first statement I got since I got the new card. There were 2 charges totalling 2K at a gas station in BC on the same day my card was used at a Tim Hortons in Toronto in August. Did I get a call from them? No. Are you kidding me? They insist on speaking to me about my U.S. Credit card when they KNOW I live in Windsor and go to school at UDM, plus have charged my tuition and books at the same time every year, but they don't call me re: 2K in purchases while I'm apparently in Toronto and B.C. at the same time, and at a gas station!?
I called immediately, and she said that they can't reverse it right away. So I had to change my payment to the minimum b/c I'm not forking over 2K and wait for them to get it fixed. She said it could take over a month. Bull .
The thing that is even more annoying...I used that new card twicE. Both at Tim Hortons, and then the next thing you know my card is being used in B.C. Seems a bit strange considering Tim Horton's only uses pay pass...they never got my chip, signature, nothing...
One more strike and I'm cancelling my cards with them. |
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| Jayx1 |
| quote: | Originally posted by tvmann
That retailer fee is why people should not use credit cards. The 3 percent (or whatever) just keeps the cost of goods high, ultimately it is the consumer who pays for the retailer fees by way of higher prices. I literally keep my card frozen in a block of ice and only thaw it out on rare occasions.
And when you have a credit card you will always consume more and spend more money than if you use cash or equivalent.
The points programs are bullcrap, they're just a scheme for the credit card companies to skim a fee from every transaction we make. |
having owned a few businesses i can honestly say that 3% was the least of my worries. I found that accepting credit cards INCREASED transactions. Why? because people are more impulsive with them. Also, they are extremely convenient (as is debit) and works much smoother than handling cash.
The real impediment to business and what drives up cost are taxes. Hidden employment tax like CPP and EI was my biggest single expense after cost of materials and basic wages. (even more than the lease!). I would rank credit card expenses somewhere around 20th on the list of expenses and i am betting that the extra revenue they brought far outweighed the cost.
loyalty programs do come with a cost. But we are ALL already paying for it anyways so why not cash in and maximize on them? |
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| Ania_xox |
My man just added me to his account with BMO and this little sucker is literally gold for air miles.
You get one air mile for every $15 vs. the standard $20. Plus at numerous locations, if you go over X amount of dollars, you get X times the air miles.
Example, when I gas up at Shell for <$30 and spend $10 in the store, I get ten times the miles.
Same idea when we shop at various grocery stores, restaurants, etc.
PLUS, you can double dip with your air miles card. So you're getting miles on the credit card AND the miles card.
AND, you get 25% off when you book your flight.
Annual fee is $90, but he pays that :D |
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| geroin |
| quote: | Originally posted by jpistone
http://www.mbna.ca/shopping_cardList.html
Smart Cash Platinum Plus®
1.99% introductory annual interest rate† on balance transfers* and cheque cash advances for 10 months
Get up to 5% cash back on qualifying net retail gas and grocery purchases for the first 6 months††
Get up to 3% cash back on qualifying net retail gas and grocery purchases thereafter‡
Get up to 1% cash back for all other qualifying net retail purchases‡
No annual fee |
stay away from mbna cards, they are the worst for fees. |
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| rT19 |
Capital one Cash Back.
2% cash back on Everything You buy.
- Must Spend over $20000 annually
- $100 fee annually |
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| Jayx1 |
| quote: | Originally posted by rT19
Capital one Cash Back.
2% cash back on Everything You buy.
- Must Spend over $20000 annually
- $100 fee annually |
the $100 fee kills the benefits. And you must spend over 20G?
what a crappy card!
so to even qualify u must spend 20 grand and you then get 400-100=300 IF you qualify.
You are better off with no fee cards with no limits. |
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| KStuff |
I use the TD First Class Visa combined with the Select Service account. I don't mind the $5000 minimum balance since the perks are worth it for me:
- Waive $120 Visa annual fee, and $24.95 account fee
- 1.5% Travel cash back (redeemable any travel way you want)
- 4.5% Travel cash back when booking travel on TD's site (I travel a lot for work, and book my own flights/hotel/car).
- 10% off (IIRC) select Air Canada flights (cheaper than Air Canada site). Not sure what the deal is with that, whether it's a sale or whatever.
For the select service account:
- Free Bank Drafts, cheques
- No ATM fees for international ATMs
All in all a pretty good system. |
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| *~LiSa-LoO~* |
| quote: | Originally posted by KStuff
I use the TD First Class Visa combined with the Select Service account. I don't mind the $5000 minimum balance since the perks are worth it for me:
- Waive $120 Visa annual fee, and $24.95 account fee
- 1.5% Travel cash back (redeemable any travel way you want)
- 4.5% Travel cash back when booking travel on TD's site (I travel a lot for work, and book my own flights/hotel/car).
- 10% off (IIRC) select Air Canada flights (cheaper than Air Canada site). Not sure what the deal is with that, whether it's a sale or whatever.
For the select service account:
- Free Bank Drafts, cheques
- No ATM fees for international ATMs
All in all a pretty good system. |
I feel the same. I have the Gold Elite, with the Select Service account. |
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