Hot Deals

[BMO] Credit card 4% introductory cashback, $0 annual fee

  • Last Updated:
  • May 20th, 2017 11:52 am
Sr. Member
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Jan 5, 2006
770 posts
115 upvotes
Markham
psommerfeld wrote:
May 19th, 2017 10:07 am
Yes I went through that math.
I spend about $700 on non-gas, $300 on gas.
For easy figuring, that's 300 L of fuel. That gives me equivalent of $24 CB/month. That's 2.4% on $1000, and that doesn't count the 8% savings already priced in.
I just learned that here in ON at least, there are strict rules on gas price competition. Gas stations have less price autonomy than I thought.
I didn't know I can save 2%+ by paying cash/debit at some stations. Where are those?
compare to this CT gas CC

just keep an eye on gift card post, usually you can get 5-10% off gas (CT, Esso, Petro Can, etc) gift card at ebay, shoppers, or some supermarket when they do promotion
plus you can use your reward credit card to buy those gift card (1-3%?)
for CT, if you use gift card (or cash or debit, but not CC), you may get e-CT money which is 3-4% reward extra (depend on how much X bonus), and yes, sometimes they hand out 3 cents off coupon at some CT gas station for next time (or they scan their own 3cents off coupon, give me free chocolate bar or chips at the same transaction directly)
for Esso, can get aeroplan or esso points

CT gas CC, you get 2-10 cents off (depend on how much you spent last bill), without any reward above, need to go CT gas only for tier (cannot go other even they're cheaper), need to count how much you spent (don't go under tier, don't go over tier too much), tier reset to zero every month

it's your choice, just point out the pro and con at CT gc and Gas MC
I stock few k CT gc everytime when it's on sale 10%off
100% ebay rating since 02 ebay :razz:
Heat
Deal Addict
User avatar
Jul 8, 2011
1016 posts
828 upvotes
TORONTO
Does BMO sponsor RFD and have hired employees / hype men / future banking professionals in the threads or something?

This is 2 for 2 when it comes to frigid BMO offerings clogging up Hot Deals - including that atrocious bank account / credit card "package deal" that required next level hoop jumping rivalling world-class money launderers, all to save a measly few hundred dollars a year on fees and get lounge access (big whoop.)

TBH even that thread and its cronies deserved to be moved into the discussion forums ages ago, after it got dozens upon dozens of down votes. Now we've got to hide yet another thread. Geez.
Last edited by PitchyDawg on May 19th, 2017 8:34 pm, edited 1 time in total.
Sr. Member
Jan 9, 2011
510 posts
242 upvotes
Vancouver
psommerfeld wrote:
psommerfeld wrote:
May 19th, 2017 9:36 am
I've been getting credit cards for their introductory offers and then cancel or stop using them.
Paroxetine wrote:
May 19th, 2017 10:20 am
I don't want to see your credit score Face Screaming In Fear
Follow Jerry's List in the Credit Card forum. He's been doing the same thing as psommerfeld for several years now; applying for credit cards for the welcome bonus, cancelling them 6-11 months later, and doing it again with other cards. His credit rating has remained stable throughout.

I'm not a churner like Jerry (too much bother and wife doesn't buy in) but the game is definitely worth a look for many RFDers.
Jr. Member
Oct 11, 2014
191 posts
103 upvotes
North Vancouver, BC
PitchyDawg wrote:
May 19th, 2017 8:34 pm
Does BMO sponsor RFD and have hired employees / hype men / future banking professionals in the threads or something?

This is 2 for 2 when it comes to frigid BMO offerings clogging up Hot Deals - including that atrocious bank account / credit card "package deal" that required next level hoop jumping rivalling world-class money launderers, all to save a measly few hundred dollars a year on fees and get lounge access (big whoop.)

TBH even that thread and its cronies deserved to be moved into the discussion forums ages ago, after it got dozens upon dozens of down votes. Now we've got to hide yet another thread. Geez.
The bank account / credit card package deal awhile back wasn't hard to do...rivalling world class launderers?

This is quite different from that.
Sr. Member
User avatar
Aug 8, 2015
580 posts
417 upvotes
Toronto
Kiraly wrote:
May 19th, 2017 8:35 pm
Follow Jerry's List in the Credit Card forum. He's been doing the same thing as psommerfeld for several years now; applying for credit cards for the welcome bonus, cancelling them 6-11 months later, and doing it again with other cards. His credit rating has remained stable throughout.

I'm not a churner like Jerry (too much bother and wife doesn't buy in) but the game is definitely worth a look for many RFDers.
Each new credit card will definitely drop your credit score.
Applying for credit cards for welcome bonuses should be something to avoid if you're looking to apply for a mortgage or a loan in the future.
Deal Addict
User avatar
Jul 8, 2011
1016 posts
828 upvotes
TORONTO
TimDrake wrote:
May 19th, 2017 9:15 pm
The bank account / credit card package deal awhile back wasn't hard to do...rivalling world class launderers?
If people applied the same resourcefulness, effort and ingenuity into other avenues instead of avoiding $150 in fees they could be making $150 many times over.
scottmg wrote:
May 19th, 2017 9:25 am
People really hate BMO around here.
Utterly transparent big finance motives masquerading as hot deals for consumers tends to leave a bad taste in the mouth.
Member
Apr 23, 2008
274 posts
13 upvotes
Toronto
ChippewaBarr wrote:
May 19th, 2017 10:14 am
If you're referring to the Capital One Aspire Cash World MC, I'm in the same boat...been looking for something that can beat it since like 2013 but have yet to find anything as good!
I didn't get it. What's so special about Capitol One Aspire Cash World MC. Doesn't other cc offer more than 1.5% cash back ?
Deal Fanatic
User avatar
Aug 8, 2012
7958 posts
2789 upvotes
BC
psommerfeld wrote:
May 18th, 2017 7:47 pm
The base case has a $125 incentive, if you purchase $3,125 within first 4 months
It's not a $125 incentive. You can earn 1.5% for free on another card on that $3,125 spending which is $46.88. That makes it a $78.12 incentive.
- If you have a 1.75% card already, then it is $70.31 incentive.
- If you have a 2% card already, then it is only a $62.50 incentive.

Everyone should have AT least a 1% card. Fido MasterCard is free and pays 1.5%. 1.75% is free for first year from Rogers MC, ongoing with waiver with Rogers Communication family services bills.
Lots of people already have 2% on everything cards that they pay for or churn.
POLL: How many credit cards do you CARRY?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Addict
Dec 16, 2005
2330 posts
504 upvotes
ChippewaBarr wrote:
May 19th, 2017 10:14 am
If you're referring to the Capital One Aspire Cash World MC, I'm in the same boat...been looking for something that can beat it since like 2013 but have yet to find anything as good!
The only card better is the cap1 aspire travel WE.

I had the aspire cash and cancelled it. 2% for only $20 per year was a no brainer. $4000 per year in spending is the break even.

Even if you don't travel it is so easy to redeem points.
Jr. Member
Jun 3, 2007
186 posts
14 upvotes
Toronto
Does the Cap 1 Aspire Cash World MC even exist anymore? Can't find it on their website. The Travel WE is only card I can find with 2% back but it's $150/yr.
2x Zoomer $36 plans. PM me if you have any Q's.
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