Personal Finance

Best way currently to get cash back on payments like tuition

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  • Jul 23rd, 2020 2:23 am
[OP]
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Aug 7, 2019
736 posts
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Best way currently to get cash back on payments like tuition

I recently came across this older thread where people paid their tuition using a Canadian Tire Mastercard to pay their tuition for cashback: pay-your-bills-online-using-canadian-ti ... t-1149989/

But then I also came across other posts about options like Plastiq and PayTM:paytm-pay-house-bills-any-mc-no-referra ... 87891/610/

I'm not super financially literate so I was hoping someone would be able to let me know what is the best option right now for paying these sorts of things and getting cashback. The main things I can see myself using it for is my tuition and Rogers bills but if anyone has any other suggestions, they would be greatly appreciated.
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Aug 9, 2017
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I haven't used plastiq or Paytm but from what I understand a few years back there was no fee in using the service. Now that they implemented the fee, unless your credit card offers a high cash back, like 3% back, the Canadian Tire card is better, hence why the title of that post says "Officially USELESS". There is no fee when you pay your bills, and you will get 0.5% back in points (1% if you have the world elite). It's a great card to pay your tuition (if your school is listed on the spreadsheet). Although, you can probably use a different card that provides a higher cash back to pay your rogers bill since they allow payments from any credit cards.
[OP]
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Aug 7, 2019
736 posts
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ashven288 wrote: I haven't used plastiq or Paytm but from what I understand a few years back there was no fee in using the service. Now that they implemented the fee, unless your credit card offers a high cash back, like 3% back, the Canadian Tire card is better, hence why the title of that post says "Officially USELESS". There is no fee when you pay your bills, and you will get 0.5% back in points (1% if you have the world elite). It's a great card to pay your tuition (if your school is listed on the spreadsheet). Although, you can probably use a different card that provides a higher cash back to pay your rogers bill since they allow payments from any credit cards.
Thanks! It seems York is the only one in that case. Was hoping UofT might have something.
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DrDoomsday wrote: Thanks! It seems York is the only one in that case. Was hoping UofT might have something.
They do have UofT. It's listed as "U OF T 90011918" with spaces in between. :)
The account number will be your the first 5 letters of your utorid + your student number. Ex. XXXX##########.
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ashven288 wrote: I haven't used plastiq or Paytm but from what I understand a few years back there was no fee in using the service. Now that they implemented the fee, unless your credit card offers a high cash back, like 3% back, the Canadian Tire card is better, hence why the title of that post says "Officially USELESS". There is no fee when you pay your bills, and you will get 0.5% back in points (1% if you have the world elite). It's a great card to pay your tuition (if your school is listed on the spreadsheet). Although, you can probably use a different card that provides a higher cash back to pay your rogers bill since they allow payments from any credit cards.
CTFS Cash Advantage. 0.25-1.5% cashback and no fee. Same issuer, but OP wants CASHBACK.
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[OP]
Sr. Member
Aug 7, 2019
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Thanks!

I see now that all the universities (except for York) are listed as U of _____

Are there any other options besides Plastiq, PayTM, and Canadian Tire Mastercard?

From a quick google search, it seems like Plastiq charges 2.5% and PayTM charges 1.75% so I would need at least a 2.5% cashback card to even make it worthwhile (doesn't seem like there are any that could get approved on my mom's 20ish K salary)
[OP]
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Aug 7, 2019
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Another question for anyone that might be able to answer. My current credit limit on my CIBC student card for the past few years has only been $500. I don't imagine Canadian Tire would give me more than $1000 while a student. Would I still be able to pay off my ~8K tuition using this by overloading the card first or are there any limits to how much you can pay each month?
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DrDoomsday wrote: Another question for anyone that might be able to answer. My current credit limit on my CIBC student card for the past few years has only been $500. I don't imagine Canadian Tire would give me more than $1000 while a student. Would I still be able to pay off my ~8K tuition using this by overloading the card first or are there any limits to how much you can pay each month?
You can make installments up to your CL, then pay it off immediately online or in store.
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[OP]
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titaniumtux wrote: You can make installments up to your CL, then pay it off immediately online or in store.
Oh. So let's say I get approved for $500. Can I pay 500 with the card. Pay off the balance, Pay another 500 and repeat 16 times until I reach 8K? If so, is there any waiting period that I should be aware of?

Also, what is the process of actually funding/paying the card? Does it link up with my bank account and I can make transfers without fees?

Thanks in advance!
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DrDoomsday wrote: Oh. So let's say I get approved for $500. Can I pay 500 with the card. Pay off the balance, Pay another 500 and repeat 16 times until I reach 8K? If so, is there any waiting period that I should be aware of?

Also, what is the process of actually funding/paying the card? Does it link up with my bank account and I can make transfers without fees?

Thanks in advance!
You bet. You'll probably be able to BP up to CL every 1-2 days. Pay in store with debit or cash, online with VISA/MC debit or e-transfer. Linked bank account takes longer.
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If you also apply to OSAP, you will need to pay your tuition before they do since they will pay the school on your behalf.
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Sep 14, 2012
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Not sure how tuition works with the other universities in the rest of Canada but in Quebec (at least with the 2 English universities that I've taken courses at which would be McGill University and Concordia University and the one French university that I've taken courses at which was Universite de Montreal), I was able to pay my tuition fee using any Visa/Mastercard (and sometimes AMEX) so I would just use the one which gives the highest cashback benefit (which is either 1% or 1.5% depending on what I wanted whether it was points (loyalty dollars) or actual cashback rebate without going thru some sort of elaborate system.
[OP]
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lmcjipo wrote: Not sure how tuition works with the other universities in the rest of Canada but in Quebec (at least with the 2 English universities that I've taken courses at which would be McGill University and Concordia University and the one French university that I've taken courses at which was Universite de Montreal), I was able to pay my tuition fee using any Visa/Mastercard (and sometimes AMEX) so I would just use the one which gives the highest cashback benefit (which is either 1% or 1.5% depending on what I wanted whether it was points (loyalty dollars) or actual cashback rebate without going thru some sort of elaborate system.
Thanks for sharing!

Some Universities allow that in Ontario but with a fee for using credit card. For example, UofT charges 1.75%
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Sep 14, 2012
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DrDoomsday wrote: Thanks for sharing!

Some Universities allow that in Ontario but with a fee for using credit card. For example, UofT charges 1.75%
What I mentioned for the province of Quebec has changed from when I did this or it might depend on what course you take since at least one of the universities that I did this with (McGill University) mentions on their website that they don't accept credit cards. However, I remember when I took my course there which was awhile ago (it was also via their Continuing Education branch/department), credit card payment were allowed.

https://www.mcgill.ca/student-accounts/ ... yment/faqs

However, that being said, McGill University (outside their Continuing Education courses) does accept something called "HigherEd Points" which is apparently some loyalty rewards program with some credit card companies (I don't know anything about it but their link is https://www.higheredpoints.com/). McGill University's link is: https://www.mcgill.ca/student-accounts/ ... hin-canada

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