Personal Finance

Which credit card is best to apply for now?

  • Last Updated:
  • May 22nd, 2015 1:30 pm
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[OP]
Member
Jan 3, 2011
274 posts
85 upvotes
Welland

Which credit card is best to apply for now?

Would like to get in on some of the offers currently on the market.

Currently have the following CC - MBNA Smart Cash 1% cash back no fee (daily use)
CIBC Double Double (don't use) but get the free coffee every Friday
Scotia 1% cash back. (never used unless I have to preload it for transactions over 10K where I can use a CC with no issues)

Take one trip a year and one other trip within driving distance requiring hotel stay.
My income is >70k and credit score of 750+.

Thoughts?

Thanks
5 replies
Deal Fanatic
Aug 25, 2005
5403 posts
2639 upvotes
Going to need more details than that to see if it makes sense for you to get a creditcard with annual fee.

Would add the Chase Amazon VISA to your repitoire for any foregin currency purchases. Otherwise, you're probably good with continuing to use MBNA SC.

edit: if you're looking to take advantage of first year free cards and cancel them afterwards, there's a bunch of decents ones.
-MBNA RWE, 2% Cash Back, $100 bonus.
-BMO World Elite, ~2% Travel Pts, ~$300 in travel pts bonus.
-TD First Class, 1.5% Travel Pts, $200 in travel pts bonus, $60 rebate from GCR.
Sr. Member
User avatar
Jan 29, 2005
795 posts
190 upvotes
Winnipeg
If you use Aeroplan, then the TD Aeroplan Infinite card is a good choice right now 15k welcome bonus, FYF, travel insurance, priority boarding and first bag free on AC flights, 1 Maple Leaf Lounge pass. 1.5% back on gas and groceries 1% everywhere else. If you don't have Aeroplan the TD First Class Infinite is similar but with 40k points welcome ($200 travel credit)

The BMO World Elite Mastercard is a good choice if you don't use Aeroplan. 30k welcome bonus ($300 worth of travel) FYF, travel insurance, Priority Pass membership with 4 free visits. Points can be used on the BMO rewards site to book any travel (flight, car, hotel, cruise) use points (or points and cash) to pay. 2% back on travel 1% everywhere else

Scotia Gold Amex has one of the highest earn rates at 4% on gas/grocery/entertainment/dining 15k bonus ($150 travel), FYF, travel insurance, Priority Pass membership. Book the best travel deal you can find and pay with your Scotia Amex. Then use the points to pay it off afterwards

If you use GCR some of these cards have sign up bonuses also.
Check this thread on RFD for some details and help: list-credit-cards-great-welcome-bonuses ... d-1685293/
[OP]
Member
Jan 3, 2011
274 posts
85 upvotes
Welland
Thanks, I have read that thread and wanted to make sure I wasn't missing any. I do tend to make a lot of US purchases and was thinking of keeping one that is good for FX rates as I see some where you only pay the posted rate and no spread if I understand.

Also, was thinking of getting one with low initial balance transfer as 0.99% is cheap financing.
Deal Addict
Oct 12, 2006
1450 posts
301 upvotes
Markham
Gryphon25 wrote: Thanks, I have read that thread and wanted to make sure I wasn't missing any. I do tend to make a lot of US purchases and was thinking of keeping one that is good for FX rates as I see some where you only pay the posted rate and no spread if I understand.

Also, was thinking of getting one with low initial balance transfer as 0.99% is cheap financing.

If you're going to be making a lot of US purchases, then consider the Amazon visa card. It has ok cashback. But the real selling point for it is the lack of any foreign currency exchange fee. and it's a no-fee card.

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