Credit Cards

Best card for upcoming large purchases

  • Last Updated:
  • Aug 15th, 2021 8:59 pm
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[OP]
Newbie
Dec 10, 2009
52 posts
6 upvotes

Best card for upcoming large purchases

We are closing on a new build house next month and will have approximately $25k in credit card purchases within the next three months.

I’m looking for some advice on which credit card will be able to provide me with purchase protection, as well as maximizing the points (or cash back) possible. I would love to be able to get a trip or something out of it.
7 replies
Member
Dec 10, 2012
334 posts
439 upvotes
MARKHAM
AMEX Biz Plat x 2 (75K pts for 7K spend each, or 100K pts for 10K spend if through referral)

AMEX SCP x 2 (10% CB on 4K spend)

P1 gets Biz Plat via GCR (75K on 7K spend + CB)
P1 refers P2 for Biz Plat (100K on 10K spend)

P1 and P2 get SCP via GCR (and statement credit bonus, ymmv)

25K spend
175K MR pts
350 CB from GCR
800 CB from SCP (+200 CB)
Less AF
Plus referral bonus
Sr. Member
Dec 22, 2004
564 posts
697 upvotes
Toronto
Someone downvoted this?? I am planning on making some large purchases this year as well and will be doing it on a TD aeroplan infinite privilege. I find that a great card for the “everything else” category. 1.25X points. Has great insurance protection as well.
Newbie
Dec 29, 2005
15 posts
6 upvotes
my_sir wrote: Someone downvoted this?? I am planning on making some large purchases this year as well and will be doing it on a TD aeroplan infinite privilege. I find that a great card for the “everything else” category. 1.25X points. Has great insurance protection as well.
Amex aeroplan is 1.25 as well isn’t it?
Sr. Member
Dec 22, 2004
564 posts
697 upvotes
Toronto
reccoso wrote: Amex aeroplan is 1.25 as well isn’t it?
Yes, it is, but I find that a lot of places don’t accept AMEX. In my wallet, I have two AMEX (Colbalt & Platinum) which I use depending on what I am buying, but if I cannot use them, I will use the TD Aeroplan.
Sr. Member
Dec 22, 2004
564 posts
697 upvotes
Toronto
batcave wrote: I think both these cards are good as well as the CIBC infinite Privilege Aeroplan card is 1.25 for everything else. The welcome bonus is 20k points on the first purchase, 25k points for $3k spend in four months and 2500 points per month for a year when one spends $2k in a billing period. If one spends $25k in a year, they will get a companion flight pass (Max $600).
I think TD is better than CIBC. The 2k/month spend is annoying. For example, this month I spent ~$10k on my TD and will get all of my welcome bonus points. If i got CIBC, I would only get 2500 points and will need to spend $22K over then next 11 months. For me this is an everything else card, so depending on what I buy, I may not spend $2k. All my food is put on AMEX. Also, my spending is going to be lumpy as I have some big purchases (like invisalign and dental work) for just a few months, which I think will be the case for OP and his new house.
Deal Fanatic
User avatar
Nov 14, 2003
5736 posts
4217 upvotes
LaLaLand
my_sir wrote: I think TD is better than CIBC. The 2k/month spend is annoying. For example, this month I spent ~$10k on my TD and will get all of my welcome bonus points. If i got CIBC, I would only get 2500 points and will need to spend $22K over then next 11 months. For me this is an everything else card, so depending on what I buy, I may not spend $2k. All my food is put on AMEX. Also, my spending is going to be lumpy as I have some big purchases (like invisalign and dental work) for just a few months, which I think will be the case for OP and his new house.
I would have assumed anybody with this card would have a high rate of spend and wouldn't have to worry about trying to spend $2,000 a month. You have a similar card and can't spend $2,000 per month? Personally, I would have no problems spending $2k month but I guess everyone has different spending patterns.

If OP had this card and they spent $3k in the first month, they would get over 50k points on the first statement. That matches the TD card of 50k points approximately. The rest of the 20k points from monthly spend are gravy. But they are approximately the same card. 🤷‍♂️
Sr. Member
Dec 22, 2004
564 posts
697 upvotes
Toronto
batcave wrote: I would have assumed anybody with this card would have a high rate of spend and wouldn't have to worry about trying to spend $2,000 a month. You have a similar card and can't spend $2,000 per month? Personally, I would have no problems spending $2k month but I guess everyone has different spending patterns.

If OP had this card and they spent $3k in the first month, they would get over 50k points on the first statement. That matches the TD card of 50k points approximately. The rest of the 20k points from monthly spend are gravy. But they are approximately the same card. 🤷‍♂️
Well, not me. In fact, I also have the RBC Infinite Avion Privilege as well and I spend almost nothing on it. I will be closing that once I figure out what to do with all of the points I have accumulated. Anyway, I expect to spend ~$60k-$70k this year but most are one off purchases that will happen in a span of 3 months. My normal monthly spend is ~$2500 for mostly food and that all either goes on Amex Platinum or Colbalt for points. I am just looking forward to travelling again but until that day happens, my spending will be minimal. Therefore, CIBC version of the card totally did not work for me. Doesn’t matter, because I am not a big fan of CIBC anyway.

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