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Canadian Tire Cash Advantage MasterCard - 1.5% Cashback Any Drawbacks?

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  • Mar 5th, 2012 11:18 am
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Deal Addict
Sep 11, 2006
1359 posts
259 upvotes

Canadian Tire Cash Advantage MasterCard - 1.5% Cashback Any Drawbacks?

Anyone see any drawbacks in this card? Seems like no fee, 1.5% cashback. Seems like it would be a good complement to SmartCash for those non-gas/grocery purchases.

https://www.ctfs.com/Products/CreditCar ... asterCard/

Get valuable benefits as a cardholder:
Earn up to 1.5% cash back on all your eligible purchases
Earn up to 3% cash back at Canadian Tire stores, Canadian Tire gas bars and Mark’s Work Wearhouse/L’Équipeur stores
Get unlimited cash back with no annual fee
Get your cash back automatically applied to your account every year*
PayPassTM

Plus, enjoy these card benefits:
Worldwide acceptance at millions of merchants across the globe.
Cash advances† at any Automated Bank Machine (ABM) that displays the MasterCard® or Cirrus® logos.
FREE online account inquiry
FREE supplementary cards by calling 1-800-459-6415.
24-hour customer service for lost or stolen cards. Just call 1-800-459-6415 (outside Canada or the U.S., call collect 905-735-7256).
4 ways to pay your bill: at Canadian Tire stores, at your bank, by mail or by pre-authorised payment plan. See your Benefits Booklet or statement back for details.
Guard your card online with MasterCard® SecureCodeTM
19 replies
Member
Apr 13, 2005
257 posts
20 upvotes
Kitchener
Sounds good on the surface, but of course further reading discovers...

"You'll earn 0.25% on the first $1,500 in purchases, 0.5% on purchases above $1,500 and up to $3,000, a full 1% on purchases above $3,000 and 1.5% on purchases above $24,000."

Just another tiered card. And very heavily tiered at that. :facepalm:
Deal Addict
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Apr 9, 2005
2693 posts
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It's a little deceiving.
Earn up to 1.5% cash back everywhere you shop1
Rewards will be earned based on your net new eligible purchases during a program year.†

You'll earn

0.25% on the first $1,500 in purchases,
0.5% on purchases above $1,500 and up to $3,000, a full
1% on purchases above $3,000 and
1.5% on purchases above $24,000.
Last edited by titaniumtux on Jun 11th, 2018 2:27 pm, edited 1 time in total.
Reason: Tag fix
Deal Addict
Feb 17, 2007
3190 posts
198 upvotes
a_1_a wrote:
Feb 26th, 2012 4:23 pm
There is a little secret that not too many people knows about. You can use any CT M/C to pay bills online and earn cash back or CT money, just like a normal purchases. Normally if you use other credit card to pay bills online, it is treated as cash advances and interest will be charged and you don't earn rewards like a normal purchases. CT M/C are the only ones I know that offering this benefit.
https://www.ctfspayments.com/CTFS_Consu ... BillPay.do

you serious?
someone confirm plz.

I pay a lot of utility bulls and property taxes this way.
Deal Addict
Jul 23, 2007
3479 posts
1266 upvotes
a_1_a wrote:
Feb 26th, 2012 4:23 pm
There is a little secret that not too many people knows about. You can use any CT M/C to pay bills online and earn cash back or CT money, just like a normal purchases. Normally if you use other credit card to pay bills online, it is treated as cash advances and interest will be charged and you don't earn rewards like a normal purchases. CT M/C are the only ones I know that offering this benefit.
https://www.ctfspayments.com/CTFS_Consu ... BillPay.do
Canadian Tire may soon start phasing out their CT money, and if their trial runs are successful in Nova Scotia, then that will be one option eliminated.
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Dec 26, 2010
1690 posts
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Calgary
ACC-Major wrote:
Feb 26th, 2012 4:31 pm
you serious?
someone confirm plz.

I pay a lot of utility bulls and property taxes this way.

It's not true. I've been paying my cable and cell phone on my MBNA card ever since I got it. I have yet to pay a penny of interest on the card.
Deal Fanatic
Mar 12, 2010
5991 posts
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SW Ontario
wm009 wrote:
Feb 26th, 2012 9:14 pm
It's not true. I've been paying my cable and cell phone on my MBNA card ever since I got it. I have yet to pay a penny of interest on the card.

Yeah. Pay Rogers automatically on my PCMC, it's just like any other 'purchase'. You are just purchasing a service.
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Dec 26, 2009
2086 posts
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Shadow Rider wrote:
Feb 26th, 2012 2:46 am
Anyone see any drawbacks in this card? Seems like no fee, 1.5% cashback. Seems like it would be a good complement to SmartCash for those non-gas/grocery purchases.

If you plan to reach the 1.5% level (over $24,000 spending), you may be better off with the CT Options card. With Options (normally 1% flat rate), you can get Elite status by spending >$15,000 on the card in the previous year. Elite memebers get I believe 1.25% on all purchases. Which would make it a much better card unless you spend well in excess of $24,000/yr on the card. https://www.ctfs.com/Products/CreditCar ... ionsElite/
Sr. Member
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Jun 6, 2009
792 posts
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Montréal
RubberCheese wrote:
Feb 26th, 2012 8:47 pm
What?! This is insane... both capital one and MBNA are listed as payees. If what you say is true, we can get an additional 1% (Options card) and extra grace period on ALL CC Purchases???!!!

Are there other banks listed?

This means you could earn cash back while paying back a low interest balance transfer.
Deal Addict
Feb 24, 2007
1371 posts
54 upvotes
RubberCheese wrote:
Feb 26th, 2012 9:35 pm
If you plan to reach the 1.5% level (over $24,000 spending), you may be better off with the CT Options card. With Options (normally 1% flat rate), you can get Elite status by spending >$15,000 on the card in the previous year. Elite memebers get I believe 1.25% on all purchases. Which would make it a much better card unless you spend well in excess of $24,000/yr on the card. https://www.ctfs.com/Products/CreditCar ... ionsElite/
All CT cards are a piece of crap when it comes to rewards. Except for maybe a small minority of people who are very high CT/Mark's buyers, way better cards out there to choose. Only thing CT has for it is the decent product insurance that you can sign up for and possibly get free, which may make up for lost rewards for certain purchases.
RubberCheese wrote:
Feb 26th, 2012 10:56 pm
Yup, the list seems almost identical to the one shown at my bank. I only checked Capital One, MBNA, and Scotiabank Visa, but imagine others are on there too.

Cities (property tax), Union Gas, Hydro One (and a few local utilities I checked) are also on there.

The only thing I couldn't find were universities (though I didn't check many)
I highly doubt you could earn rewards on paying off CC bills. Are you sure they won't actually treat that transaction as a balance transfer rather then a purchase. Because you could infinitely loop bill payments and make some mad cash. Write cc cheque, deposit in bank, pay off cc with CT, earn rewards, pay off CT with cash in bank. Repeat until multi-millionaire. If that is for real, it will change very quickly once I have my way with it, or anyone else on RFD for that matter.
Member
Mar 21, 2008
312 posts
36 upvotes
Calgary
Now that is a heavily tiered card for sure!
Deal Addict
Dec 31, 2009
1568 posts
140 upvotes
Holy crap. This thread is a jam-packed all-star game of misinformation.
CalgaryMan wrote:
Feb 27th, 2012 10:01 am
Now that is a heavily tiered card for sure!
That's about the only true thing I've read in this thread.
Member
Aug 16, 2004
365 posts
78 upvotes
The info on the links RubberCheese posted sure seems to indicate that online bill payments will earn points, and if we can pay to other credit cards that's pretty crazy. As HalfLife pointed out, this could mean earning 1.5% of my Capital One card's credit limit for every purchase cheque they give me. Somewhere around $250 - $300 per month in CT dollars. That actually creates a problem of having no way to use that much CT money, even if I were to fill up with gas at a CT gas bar (nearest one is 13km away). But I may still be interested... if this really does work.

Can somebody who has a CT card and another card confirm that you are able to make bill payments to the other card, earn CT dollars for it, and not pay any cash-advance fees?
Member
Dec 29, 2004
294 posts
12 upvotes
a_1_a wrote:
Feb 29th, 2012 5:30 pm
I called CT M/C to confirm & I tried it. Even though the bill payment option is only available when selecting the Options M/C, you can enter the CASH ADVANTAGE MASTERCARD # to use the bill payment service after selecting Options M/C & bill payment. I have both Options M/C & CASH ADVANTAGE MASTERCARD M/C and both work for me. Yes, I tried to pay my BMO & MBNA M/C and both receive the payments with no cash advance fee and cash rebate is earned. So if you use CASH ADVANTAGE MASTERCARD to pay, then you will get cash rebate, not CT money and you won't have problem spending the cash rebate. The only problem is you have to wait for the year is over before you will get the cash rebate because cash rebate only pays once a year.

Thank you for the details- just wondering if you (or anyone else) are using this method of payment for utility bills in BC (FortisBC/Terasen and BC Hydro, or even Property Taxes?). As these are fairly certain cost for most of us, being able to recoup 1% of Cash or CT Credit would be paramount.

Would my understand be that this can be done regularly? (what's in it for CT to do this, won't the Utility companies not pay them anything extra, and we would be getting money/CT money back)?

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