Yeah, this is an amazing card!EdisonL299 wrote: ↑ This card is the top card in Canada. First Visa to have 2% flat rate (4% foreign).
It's the only card I've found that has all 3 of the requirements that I need in a card:
1. Travel medical insurance of at least 21 days. 48 days is fabulous and class leading.
2. A class leading all category reward rate of 2% flat.
3. Effectively FX free with a 1.5% foreign spend. (Same as Rogers/Fido MC)
It's a bonus for me that it's a Visa and not an Amex. I personally find Amex is not accepted at many places I spend. It's a very interesting card indeed and I never thought I'd find one card to meet these 3 needs. I'm currently using BMO WE and Rogers MC to meet these 3 needs but I'm seriously thinking of ditching the BMO card with their pathetic devaluation. The lounge passes are just not worth paying that much extra for.
Now I just have to get qualified....I've got recent hard hits from Amex and Simplii. Maybe I should wait 6 months or so.
Here's my interpretation of their Visa Infinite qualification criteria:
1. You don't appear to have to be a customer of Alterna Credit Union. (I have an Alterna Bank account but they are a separate but related entity-Alterna CU owns Alterna Bank).
2. Quebec seems to be OK. Haven't found any language to say otherwise.
3. Min. income of either 60K personal or 100K household qualifies.
4. Or, "Applicant has demonstrated minimum annual spending of $25,000 on the (sic) a current credit card" this language is found on their application under "Meets minimum requirements?" "By checking yes to application Meets minimum Visa Infinite requirements, one the following must be true." (See link) I'm not sure how or if they check if you have spent at least 25K on another credit card. Do they take your word for it or do you have to give them statements? Can it be on all your cards combined or must it only be on one card?
https://www.collabriacreditcards.ca/aff ... plication/
5. Or, "Applicant has declared assets under management of $250,000 CAD". Although this may sound like you need assets of at least 250K with Alterna Savings I think it means that you need 250K in financial assets with ANY financial institution in Canada. Let me explain why. If you take a look at the link for a Meridian Visa Cash Back Infinite that is also issued by Collabria Financial Services (same issuer as the Alterna Visa) it says: "Declared total market value of all investments of at least CAD $250,000 (not including real estate or material goods)". So since these 4 criteria are set by Visa Infinite and not the individual card issuers it sounds to me that if the Meridian application says assets of 250K anywhere is OK that this also applies to Alterna Visa. Any thoughts?
https://www.collabriacreditcards.ca/aff ... 1513927323
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay, AF $0
MBNA RWE 5.4% grocery/resto
Bank: EQ (1.5%)
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay, AF $0
MBNA RWE 5.4% grocery/resto
Bank: EQ (1.5%)