Credit Cards

BMO World Elite Mastercard

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  • May 24th, 2018 7:57 am
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Deal Addict
Apr 20, 2006
1851 posts
401 upvotes
Toronto
@MMMM thanks, that theft happened last summer but I want to be aware of my rights and benefits going forward since I now have a few of these premium cards with all sorts of insurance.
Sr. Member
Dec 25, 2004
590 posts
22 upvotes
So I get the devaluation and future points earning at a lesser rate than currently, but am I in a rush to use my points before next week? I thought they were topping us all up by 40% so current points didn’t lose value, or do I have that wrong? I’m just not sure if I should be rushing to redeem.
Deal Addict
Jul 20, 2010
2034 posts
429 upvotes
Vancouver
Toronto Gamblers wrote:
Jan 7th, 2018 2:30 pm
So I get the devaluation and future points earning at a lesser rate than currently, but am I in a rush to use my points before next week? I thought they were topping us all up by 40% so current points didn’t lose value, or do I have that wrong? I’m just not sure if I should be rushing to redeem.
No need to rush if you plan on keeping the card
Sr. Member
Aug 22, 2001
738 posts
243 upvotes
Vancouver
Do any of the experts here have a suggestion for a better setup after January 15 than this:

Scotiabank Gold AMEX: Gas, restaurants, entertainment, groceries (4%) - FYF
Capital One Costco MC: Restaurants that don't take AMEX (3%) - no annual fee
PC Financial WE MC: Loblaws stores (3%)
BMO WE MC: Travel purchases and anything that might need purchase insurance (2.14%), and for the PP passes - annual fee waived with BMO account
Rogers Bank Platinum MC: Everything else (1.75%) - annual fee waived with Rogers Wireless account

(Edited to include groceries for Scotiabank Gold AMEX)
Last edited by AEmgee on Jan 7th, 2018 7:08 pm, edited 2 times in total.
Deal Fanatic
Aug 27, 2004
6479 posts
130 upvotes
Toronto, ON
AEmgee wrote:
Jan 7th, 2018 7:08 pm
Do any of the experts here have a suggestion for a better setup after January 15 than this:

Scotiabank Gold AMEX: Gas, restaurants, entertainment (4%) - FYF
Capital One Costco MC: Restaurants that don't take AMEX (3%) - no annual fee
PC Financial WE MC: Loblaws stores (3%)
BMO WE MC: Travel purchases and anything that might need purchase insurance (2.14%), and for the PP passes - annual fee waived with BMO account
Rogers Bank Platinum MC: Everything else (1.75%) - annual fee waived with Rogers Wireless account
Possibly a card with higher than 1.75% for recurring payments (e.g. Tangerine MC)? (Also, I presume you'd use the Scotia card for non-Loblaws groceries if they take Amex?)

My big question about this strategy, though, is two-fold:
1) Aren't you accumulating a lot of points on programs that are difficult to convert to ca$h?
2) What do you do next year with the Scotia card?
Member
Nov 9, 2015
354 posts
103 upvotes
Toronto, ON
AEmgee wrote:
Jan 7th, 2018 7:08 pm
Do any of the experts here have a suggestion for a better setup after January 15 than this:

Scotiabank Gold AMEX: Gas, restaurants, entertainment (4%) - FYF
Capital One Costco MC: Restaurants that don't take AMEX (3%) - no annual fee
PC Financial WE MC: Loblaws stores (3%)
BMO WE MC: Travel purchases and anything that might need purchase insurance (2.14%), and for the PP passes - annual fee waived with BMO account
Rogers Bank Platinum MC: Everything else (1.75%) - annual fee waived with Rogers Wireless account
Why do you need both Scotia Amex and PC WE unless you are churning? I have all those , except for Costco MC. I churned Scotia Amex twice.

Some may recommend Amex Cobalt for for 5X point at grocery/ dining which gives 2.5 SPG points, which is pretty good.
[OP]
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User avatar
Mar 23, 2004
36871 posts
3523 upvotes
Markham
Toronto Gamblers wrote:
Jan 7th, 2018 2:30 pm
So I get the devaluation and future points earning at a lesser rate than currently, but am I in a rush to use my points before next week? I thought they were topping us all up by 40% so current points didn’t lose value, or do I have that wrong?
That's correct, all points earned before jan 15th will be top out to ensure you get 2% travel cb out of them.
「もし、奇跡を起こせたら……」
Sr. Member
Aug 22, 2001
738 posts
243 upvotes
Vancouver
VivienM wrote:
Jan 7th, 2018 7:27 pm
Possibly a card with higher than 1.75% for recurring payments (e.g. Tangerine MC)? (Also, I presume you'd use the Scotia card for non-Loblaws groceries if they take Amex?)

My big question about this strategy, though, is two-fold:
1) Aren't you accumulating a lot of points on programs that are difficult to convert to ca$h?
2) What do you do next year with the Scotia card?
I only have two recurring payments and one is Rogers which goes to waive the Rogers Bank Platinum MC.
Unfortunately, almost none of the grocery stores I frequent will accept AMEX.

I travel frequently, shop at Loblaws stores and Costco frequently, and have a Rogers wireless plan so I never have issues redeeming the points. My issue is that I can't accumulate the points fast enough without breaking the bank! Smiling Face With Open Mouth
The Scotiabank Gold AMEX has been churned between my spouse and I.
sundawner1 wrote:
Jan 7th, 2018 7:29 pm
Why do you need both Scotia Amex and PC WE unless you are churning? I have all those , except for Costco MC. I churned Scotia Amex twice.

Some may recommend Amex Cobalt for for 5X point at grocery/ dining which gives 2.5 SPG points, which is pretty good.
Scotiabank AMEX is for churning. I actually quite like the card for the additional 1% for gas and restaurants (that will accept AMEX). It is difficult to get the annual fee after the first year waived though.
As mentioned above, I find AMEX very difficult to use as many grocery stores (where I shop) and many restaurants won't accept it, so I don't think the Cobalt would be a good choice for me.
Member
Nov 9, 2015
354 posts
103 upvotes
Toronto, ON
AEmgee wrote:
Jan 7th, 2018 9:48 pm
I only have two recurring payments and one is Rogers which goes to waive the Rogers Bank Platinum MC.
Unfortunately, almost none of the grocery stores I frequent will accept AMEX.

I travel frequently, shop at Loblaws stores and Costco frequently, and have a Rogers wireless plan so I never have issues redeeming the points. My issue is that I can't accumulate the points fast enough without breaking the bank! Smiling Face With Open Mouth
The Scotiabank Gold AMEX has been churned between my spouse and I.


Scotiabank AMEX is for churning. I actually quite like the card for the additional 1% for gas and restaurants (that will accept AMEX). It is difficult to get the annual fee after the first year waived though.
As mentioned above, I find AMEX very difficult to use as many grocery stores (where I shop) and many restaurants won't accept it, so I don't think the Cobalt would be a good choice for me.

You can use ebates shop to buy giftcards.

You can get Loblaws gift card for 1.5 % cashback + 1.75 % on your Rogers MC which is higher than your PC WE.

Same with Shoppers.

3 % on Shoppers + 1.75 % on Rogers Mc = 4.75 % return

Edit: Also, note that you can use PC WE travel for 3 % return, since you travel frequently. Their insurance coverage is less than BMO WE, though.
Jr. Member
Oct 1, 2008
122 posts
59 upvotes
So basically this thread boils down to two things. If your annual fee is waived through your banking plan....then this card is worth keeping for the PP, insurance benefits, and use for restaurants. If not, there are far better options.
[OP]
Moderator
User avatar
Mar 23, 2004
36871 posts
3523 upvotes
Markham
forexnut wrote:
Jan 8th, 2018 11:48 am
So basically this thread boils down to two things. If your annual fee is waived through your banking plan....then this card is worth keeping for the PP, insurance benefits, and use for restaurants. If not, there are far better options.
Nicely said, or if you can get the fee waived by calling BMO MC.
「もし、奇跡を起こせたら……」
Deal Addict
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Aug 24, 2016
3688 posts
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Where am I? That is …
sundawner1 wrote:
Jan 7th, 2018 10:51 pm
You can use ebates shop to buy giftcards.

You can get Loblaws gift card for 1.5 % cashback + 1.75 % on your Rogers MC which is higher than your PC WE.

Same with Shoppers.

3 % on Shoppers + 1.75 % on Rogers Mc = 4.75 % return

Edit: Also, note that you can use PC WE travel for 3 % return, since you travel frequently. Their insurance coverage is less than BMO WE, though.
Well this is very interesting.
Makes you wonder what kind of $$ they make from the retailer, if they can afford to ship for free, eat the cost of paying with credit card, and still give cashback on the gift card purchase.
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Aug 24, 2016
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sundawner1 wrote:
Jan 7th, 2018 10:51 pm
You can use ebates shop to buy giftcards.

You can get Loblaws gift card for 1.5 % cashback + 1.75 % on your Rogers MC which is higher than your PC WE.

Same with Shoppers.

3 % on Shoppers + 1.75 % on Rogers Mc = 4.75 % return

Edit: Also, note that you can use PC WE travel for 3 % return, since you travel frequently. Their insurance coverage is less than BMO WE, though.
Do you happen to know if they accept prepaid MC as payment?
How sweet would it be to buy prepaid MC at 7-11 with Scotia Amex for effective 2.5% return after activation fee, then use that prepaid to purchase say a Superstore gift card at ebates for another 1.5%, bringing your return to 4%. Or 5% if using Amex Cobalt.
I use Superstore as an example because they don’t accept Amex.
Of course if you have PCWE this would be a bit pointless for an extra 1%.
Member
Nov 9, 2015
354 posts
103 upvotes
Toronto, ON
coolintheshade wrote:
Jan 8th, 2018 2:09 pm
Do you happen to know if they accept prepaid MC as payment?
How sweet would it be to buy prepaid MC at 7-11 with Scotia Amex for effective 2.5% return after activation fee, then use that prepaid to purchase say a Superstore gift card at ebates for another 1.5%, bringing your return to 4%. Or 5% if using Amex Cobalt.
I use Superstore as an example because they don’t accept Amex.
Of course if you have PCWE this would be a bit pointless for an extra 1%.

I emailed Ebates yesterday. I will get back on that.

I don’t know if some places have hidden processing fees. Some declare it.
I remember paying on Amazon with a prepaid MC and there was a fee. I couldn’t find what it was.
Jr. Member
Oct 1, 2008
122 posts
59 upvotes
sundawner1 wrote:
Jan 8th, 2018 2:25 pm
I emailed Ebates yesterday. I will get back on that.

I don’t know if some places have hidden processing fees. Some declare it.
I remember paying on Amazon with a prepaid MC and there was a fee. I couldn’t find what it was.
I think there is a charge during a pending transaction, but then revoked once the charge is finalized....with amazon anyway.

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