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Pay Your Bills Online Using CANADIAN TIRE MASTER CARD & Earn Cash Back/CT $$$ !!!

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Aug 7, 2019
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bizee-bee wrote: Sorry, but my inbox is full, and I don't know how to archive my messages. I can't receive new PM's unless I delete some older ones. I'm rather fond of my past banters with several NOFs that I've developed a rapport with over the years.

It appears you're seeing how this card works. Let me try to explain. Apologies if I didn't read you correctly. Here goes.

You don't use a CT MC to pay at the UofT payment portal page. You login to http://www.ctfs.com/ with your MC info and then you search for payees, much like you would do with a regular bank with its bill payment options, and then you look for payees to add to your profile. Then you submit a payment to that payee, in your case it'd be "U OF T", and then probably your student ID as your account number. You make a payment, and as far as UofT is concerned, it's like a payment from your bank as a direct debit payment (sorry if I'm incorrect with the terminology). So it's not a regular merchant purchase, with associated merchant fees.

You can't pay more than whatever credit limit you have available though, so don't go bananas with the card, and don't be surprised if they start you with a small limit to begin with. There are ways to get around this issue, if you just go back a page or 2 or 3, it was discussed.

The cool thing is that after Big Brother CTFS pays your payee, with 0% fee to you, they then turn around to ask you for the money, and since you have a CT MC, they add it to your MC's online balance, as if you made a purchase....and these amounts earn whatever rewards (points, cash back) that your card product reels in. I've got the Cash Advantage version, so I earn Cash Back. Most people would likely find it more worthwhile to open a Triangle MC instead, and if possible the World Elite version, to get free roadside assistance baked in.

In addition to TD's CBVI, there's also the CIBC Dividend Platinum Visa with FYF and 10% on first $2,000 on everything-spending, but you have to use a special link to crack open that offer. Someone posted it at the CIBC thread.

There's also the BMO World Elite Cash Back MC, which requires $80K personal income. Also FYF and 10% for first $2K on anything.

More zany ideas would be to open multiple concurrent cards, but I'm not going to push you into that rabbit hole.

Bee, who took the red pill many years ago, and is still in the recovery ward. :lol:

Ha ha. Thanks! I can't afford to go down that rabbit hole just yet. I need to keep my credit strong until I apply for a student loan next September.

I did some research and in terms of cashback cards without limits/churns, it seems like there isn't anything better than Amex Simply Cash's flat 2% (https://www.ratehub.ca/credit-cards/cash-back) at which point Canadian Tire MasterCard is the better option.

Unless I churn, I may just have to settle for getting $40 back on 8K of tuition Neutral Face
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DaVibe wrote: This is my first time around at all of this ... doing a $1 test with Toronto Hydro ...

I have to pay my entire statement PRIOR to it posting a statement or I can let the statement be created and THEN pay it in full? I saw some discussions about that recently and I don't see anything like that on the first page, so I wanted to clarify. Thanks.

Example, my next statement will be June 21 to July 20. So I have a few more days before it's "created."
No need to pay your balance before the statement state if you're worried about getting charged interest on the hydro payment -- that charge will just go on your CT CC bill like any other regular purchase, and will be interest free as long as you pay your statement balance within the 21-day grace period.

You may have become confused because some people say they choose to pay their expected CC balance before their statement is issued as a way of gaming their credit utilization ratio, not because of whether or not they'll be charged interest
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titaniumtux wrote: W00t, just exceeded $24k MSR, now my Cash Advantage is a 1.5% earner until June next year :lol:

Rogers Killa :twisted:
Tux, isn’t it better to open the BMO WE Cash Back MC as FYF, 10% on first $2000, and then 1.5% on everything else?

For the same $24K spend you’d get $530 CB with the BMO card, whereas with the CT Cash Advantage you’re at $221.25. After the $24K both cards are earning the same 1.5% after that point, but the BMO card is already $300+ ahead in the race.

Dumb it down for me. What amn’t I seeing?
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bizee-bee wrote: Tux, isn’t it better to open the BMO WE Cash Back MC as FYF, 10% on first $2000, and then 1.5% on everything else?

For the same $24K spend you’d get $530 CB with the BMO card, whereas with the CT Cash Advantage you’re at $221.25. After the $24K both cards are earning the same 1.5% after that point, but the BMO card is already $300+ ahead in the race.

Dumb it down for me. What amn’t I seeing?
@bizee-bee you already know the answer...CTFS Bill Pay :lol:

Using a payee that won't even work on Plastiq or PayTM.

Need I say more?
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titaniumtux wrote: @bizee-bee you already know the answer.

<questionable stuff snipped>

Need I say more?
Ah right.. Not my cup of tea though. Too much effort. You keep being you though, crazy Guino bird.
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Tux has large tuition fees, with his PhD in Avian Research.
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banker8 wrote: Tux has large tuition fees, with his PhD in Avian Research.
And seemingly tireless flappy wings, for a Guino bird. :|
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Username77 wrote: This is an interesting point. Do they charge interest right away as a cash advance or something? or are they truly losing money on this and counting on people who carry a balance?
With CTFS, it's not a cash advance (although if you did the same BP from a Scotia or RBC CC, it would be). It's treated as a purchase. There's no interest charge, provided you pay your full statement balance by the due date.

CTFS aren't necessarily eating the MC charges (or at least not all of them). They may pass some or all of the charges onto the bill payees, with the B2B arrangements they have with them.

Of course, they'd rather you "also" use your card for regular 1% spend at traditional brick & mortar merchants. And to persuade you to undertake some discretionary shopping at CT, through the goodwill and name recognition they generate for themselves within your mind. This no doubt works better on the general population than with RFD'ers.
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Username77 wrote: Any idea if it works on the WE too?
Yes, it works.
Last edited by banker8 on Jul 16th, 2020 9:31 pm, edited 1 time in total.
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DaVibe wrote: This is my first time around at all of this ... doing a $1 test with Toronto Hydro ...

I have to pay my entire statement PRIOR to it posting a statement or I can let the statement be created and THEN pay it in full? I saw some discussions about that recently and I don't see anything like that on the first page, so I wanted to clarify. Thanks.

Example, my next statement will be June 21 to July 20. So I have a few more days before it's "created."
DV, the first timer! You're too busy with your beloved PC Optimum points.

You may have seen a bunch of rambling keystrokes about pre-paying into the card balance to free up some limit to allow another payee payment to go through with a limted-credit account, maybe?

No need to prepay to lower the limit before it cycles. In my earlier years, I let my card cycle on my CT MC with full limit balances, when I had limits of $2K, $4K, $7K, but then I started to notice that if continued to allow it to cut a statement with 100% utilization ratio on this one tradeline, and NOT pre-pay the balance to about 25% of the limit, then my credit score would go south a little. Not much, and not a big deal, but in any event it got me into the habit of never letting my cards cycle with a seemingly 100% utilization ratio. Minor want, really. In fact, maybe it's better to show CTFS that you're continually max'd out on your card limits, and they may offer you automatic limit increases more quickly, like every few months....I think that's the reason why I kept getting the offers every 3-4 months, till I reached $18K.
DrDoomsday wrote: Ha ha. Thanks! I can't afford to go down that rabbit hole just yet. I need to keep my credit strong until I apply for a student loan next September.

I did some research and in terms of cashback cards without limits/churns, it seems like there isn't anything better than Amex Simply Cash's flat 2% (https://www.ratehub.ca/credit-cards/cash-back) at which point Canadian Tire MasterCard is the better option.

Unless I churn, I may just have to settle for getting $40 back on 8K of tuition Neutral Face
Nyet. That Amex Preferred Simply Cash card is $99/yr, unless you can find a FYF offer on it. And if you're going to open that card for a year, then why not get one of the 10%/FYF cashback cards instead?
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banker8 wrote: With CTFS, it's not a cash advance (although if you did the same BP from a Scotia or RBC CC, it would be). It's treated as a purchase. There's no interest charge, provided you pay your full statement balance by the due date.

CTFS aren't necessarily eating the MC charges (or at least not all of them). They may pass some or all of the charges onto the bill payees, with the B2B arrangements they have with them.

Of course, they'd rather you "also" use your card for regular 1% spend at traditional brick & mortar merchants. And to persuade you to undertake some discretionary shopping at CT, through the goodwill and name recognition they generate for themselves within your mind. This no doubt works better on the general population than with RFD'ers.
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Yes, it works.
I doubt they can pass the cost to payees. Like those utilities, property tax, they have no motivation to give a discount to whoever
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smartie wrote: I doubt they can pass the cost to payees. Like those utilities, property tax, they have no motivation to give a discount to whoever
CTFS does not invoice the payees. The payees incur small fees afaik from central banking whenever they receive a bill pay.
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smartie wrote: I doubt they can pass the cost to payees. Like those utilities, property tax, they have no motivation to give a discount to whoever
They don't allow CRA payments.

Remember these are long-standing arrangements that have been in place since pre-2012, in a biller list they inherited from RBC.

Those B2B arrangements weren't drawn up yesterday. And when it comes to re-visiting them, government entities (as many of the payees are) move at a glacier-like pace.
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titaniumtux wrote: CTFS does not invoice the payees. The payees incur small fees afaik from central banking whenever they receive a bill pay.
But if they could charge payment as cash advance as other companies but decided not to, doesn't they actually "lose " something(say revenue)

I guess what i am not clear is regardless, those transactions process has cost and they could charge money but they don't, don't they actually eat those cost by themselves?
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smartie wrote: But if they could charge payment as cash advance as other companies but decided not to, doesn't they actually "lose " something(say revenue)

I guess what i am not clear is regardless, those transactions process has cost and they could charge money but they don't, don't they actually eat those cost by themselves?
CTFS loses money on their bill pay feature.
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bizee-bee wrote:
Nyet. That Amex Preferred Simply Cash card is $99/yr, unless you can find a FYF offer on it. And if you're going to open that card for a year, then why not get one of the 10%/FYF cashback cards instead?
minimum income requirements Disappointed But Relieved Face
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I saw a few pages back someone mentioned $75 eCTM as a welcome bonus for world elite. What is eCTM? Any welcome bonuses for the regular one (non-world elite)?
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DrDoomsday wrote: I saw a few pages back someone mentioned $75 eCTM as a welcome bonus for world elite. What is eCTM? Any welcome bonuses for the regular one (non-world elite)?
I think it's $75 for both the WE and the basic Triangle MC. Don,t think it'd be possible to get $75 for the World card since it's by invitation only. Mind you, unless the plan is to upgrade to the WE, the basic Triangle card is nothing special...you'd rather grab the Cash Advantage.
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DrDoomsday wrote: minimum income requirements Disappointed But Relieved Face
The CIBC Dividend Platinum Visa is 10% on $2K-everything / FYF. Requires $15,000 annual income. It's not a vanilla offer (going to the CIBC site directly to apply), at the moment. But you can get it through some affiliated channels, such as GreatCanadianRebates.ca, and then being redirected to the CIBC site to apply. However, there is currently $0 cash back rebate for this card at the GCR site. Keep an eye open for this as usually they have $40-$75, and occasionally $100-$120 GCR rebates for CCs signed up through their site.

The GCR cash back program has been around for years and is legitimate. You'll need to register for a (free) membership and then ensure you apply while logged in (ad-blockers turned off). My wife and I have signed up for so many CCs over the years, to the tune of $1200 and $800 respectively. Most of these were during what we might consider the Golden Days of churning for points (~2013 to ~2016). Days, gone by.

At the CIBC Div Visa thread, you can also find a special link to apply for this card's 10% promo, but without knowing the source I couldn't recommend you to go this route. I've also seen it offered for 10% at CreditKarma.ca, which btw, you should use to get your Transunion credit bureau score & report for free.
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