Personal Finance

Rewards / Cash back credit card

  • Last Updated:
  • Jan 21st, 2014 11:44 pm
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[OP]
Newbie
Jan 18, 2014
32 posts
1 upvote

Rewards / Cash back credit card

Hi All,

I'm new to the forum. I'm looking to sign up for a credit card, which offers best rewards / cash back. My primary spending will be on grocery, gas and car rentals (I travel every week for work). Can you please suggest the best credit cards which give maximum reward for car rentals? I'm willing to pay an annual fee.

Thanks.
12 replies
Deal Addict
Nov 9, 2011
1067 posts
434 upvotes
Toronto, ON
Scotiabank AMEX Gold - or - AMEX Gold Card.

Both have large threads in this forum. Have a look!
Deal Addict
User avatar
Oct 23, 2006
4321 posts
1226 upvotes
Winnipeg
eds1275 wrote:
Jan 19th, 2014 5:22 pm
Hi All,

I'm new to the forum. I'm looking to sign up for a credit card, which offers best rewards / cash back. My primary spending will be on grocery, gas and car rentals (I travel every week for work). Can you please suggest the best credit cards which give maximum reward for car rentals? I'm willing to pay an annual fee.

Thanks.
Welcome to RFD!

There are really a lot of good cards out there. Lots of great bonuses, and first year free too.

IMO:

One of the best cash back cards is the MBNA Rewards Platinum. 2% Cash back on all purchases, credit to your bill or cheque mailed to you. First year is free (FYF) and $89 afterwards.

Travel Cards are a little more subjective to what you want for rewards:

The Amex Aeroplan Card has FYF and 30,000 pt aeroplan bonus with referral.

The Amex Gold Rewards card has FYF and 25,000 pts w or w/o referral. (See Link in my signature) This card is similar to the Aeroplan Gold but earns double pts on gas, groceries, travel and drug store purchases. Can also use the points for straight $ towards your statement on travel purchases (instead of transferring to Aeroplan)

The BMO World Elite is also a great choice, FYF and $300 in bonus sign up, and 2% rewards on purchases, to be used towards travel. Also free priority pass lounge access. Kind of like a cash back/travel card hybrid.

There is also the Capital One World Aspire Travel Card.

All of these cards have separate threads, do a search and see if any of your answers can be found there, or google each of these cards and see the benefits of each.

There are not any cards targeting car rental rewards, but besides the Aeroplan Gold, they can all be used to pay and redeem for car rental purchases. (I guess you could use Aeroplan points to redeem for car rentals, but its a terrible value.)
Member
Mar 15, 2009
309 posts
107 upvotes
Toronto
FWIW BMO World Elite gets 4% cash back on National and Alamo rentals...
[OP]
Newbie
Jan 18, 2014
32 posts
1 upvote
Thanks for all the responses. I checked all the credit cards that you provided above. BMO world elite seems to give me the best rewards, however, my salary is not in that range. I'm comparing Scotiabank and Amex - still unsure which one to go for.

Btw, I know that TD waives fee for a premium credit card if you hold Select service account. Any other bank has this offer?
Sr. Member
User avatar
Aug 3, 2006
729 posts
124 upvotes
Toronto
scoper wrote:
Jan 19th, 2014 6:33 pm
Scotia Visa Infinite

http://forums.redflagdeals.com/merged-s ... d-1061129/
+1 if you meet the income requirement of $60K. 4% pure cash back on Gas and Groceries. $99 annual fee waived first year. See it's thread at the above link.

Otherwise Scotia AMEX is very good: 4% back on Gas/Groceries/Restaurants/Entertainment and redeemable towards travel purchases made on the card without any tiers, has lower income requirement along with sign up bonus. Just confirm that your preferred grocery store accepts AMEX before choosing any AMEX card.
Sr. Member
May 13, 2007
545 posts
128 upvotes
Mississauga
I suggest you to use american express aeroplan card to max your aeroplan collection. Some car rental companies provide bonus aeroplan miles. You can use these points for a long trip.
Jr. Member
Jan 14, 2009
172 posts
9 upvotes
for business - AMEX Platinum
for personal - Visa momentum infinite
[OP]
Newbie
Jan 18, 2014
32 posts
1 upvote
Guys,

Doing some more research before I zero in. I want to make sure that places I shop frequently are classified as grocery / gas stations / drug stores.

Walmart, RCSS, No frills, Metro - Are these classified as grocery stores.
ESSO, PetroCanada - Are these classified as gas stations
Shoppers Drug mart - Is this classified as drug store.

Thanks !
Sr. Member
User avatar
Aug 3, 2006
729 posts
124 upvotes
Toronto
eds1275 wrote:
Jan 21st, 2014 8:37 pm
Guys,

Doing some more research before I zero in. I want to make sure that places I shop frequently are classified as grocery / gas stations / drug stores.

Walmart, RCSS, No frills, Metro - Are these classified as grocery stores.
ESSO, PetroCanada - Are these classified as gas stations
Shoppers Drug mart - Is this classified as drug store.

Thanks !
Walmart Supercentres are considered "grocery" only on MasterCard network. Regular Walmart are not considered grocery by any card.
No Frills only accepts MasterCard (i think) - If you want to use Visa at No frills, buy a PC gift card at RCCS.
RCCS accepts Visa and MasterCard and is considered grocery.
ESSO and PetroCanada are considered Gas stations
SDM - On my Capital One M/C shows as Pharmacy. Scotia also considers this as Pharmacy. See this list from Scotia.

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