CWB World Elite Mastercard - First year free; 2% cashback ($25K/yr cap)

"Expects to spend $25,000 on the card annually"

yikes

When I was filling out form didn't see anything about annual fee being waived first year

How is this better then Rogers no annual fee world elite card? It gives 1.5% cash back with no annual fee. You’d have to spend > 24,000 to make up the difference, and if you do the cap on 2% cash back where it drops to 1% kills the deal.

Just checking in case I’m missing something.

c3uo wrote: ↑ How is this better then Rogers no annual fee world elite card? It gives 1.5% cash back with no annual fee. You’d have to spend > 24,000 to make up the difference, and if you do the cap on 2% cash back where it drops to 1% kills the deal.

Just checking in case I’m missing something.

You're missing that you can cancel after your first year.

c3uo wrote: ↑How is this better then Rogers no annual fee world elite card? It gives 1.5% cash back with no annual fee. You’d have to spend > 24,000 to make up the difference, and if you do the cap on 2% cash back where it drops to 1% kills the deal.

Just checking in case I’m missing something.

I though

Rogers world elite requires :
“ To maintain eligibility, you must have an annual spend of $15,000 each year.”

Not available in Quebec.

nicolascon wrote: ↑ "Expects to spend $25,000 on the card annually"

yikes

Yes I got this few years ago..They downgraded me to the basic card for not spending 25000k .I wont be using it anymore ..Not sure its better to cancel it or just keep it for my credit rating...

just got this card to replace my nerfed cap one aspire world and so far it's a great replacement for people that want one card for the bulk of their purchases.

Slapshot747 wrote: ↑ Yes I got this few years ago..They downgraded me to the basic card for not spending 25000k .I wont be using it anymore ..Not sure its better to cancel it or just keep it for my credit rating...

Keeping the card will help your credit score. I don't know about this card but many banks will allow you to move your "Limit" to another card. (Either No Fee or one with better perks)

Here's a few tips that might help some:

You should use all your cards 1X every 3 months to keep them current at the credit bureau, or else they won't help your credit score as much.
(My Bank manager once told me to hold a Negative Balance (Over pay by a few $) on my Credit Cards to keep them active and it seems to work)

You should call every 6 months to increase your limits, whether you need it or not. Banks can no longer increase you automatically, you have to call in.

If you are good with money (IE: You never pay Credit Card interest) then you should apply for a lot of credit cards. When you go for that Big Mortgage, having hundreds of thousands available credit will be useful.

If you are considering a bankruptcy, payment plan or other difficult situation. Think hard but MOVE FAST. What ever you choose will affect your Credit Rating for 7 years to the day. Some people try a payment plan for a couple of years and they ultimately go bankrupt. Bankruptcy is an option to get a fresh start and 7 years can go by very quickly

If you are building or rebuilding credit, start with a secured loan (IE: Borrow for a GIC)

Also you can ask a family member/friend to give you a secondary card on their account. This secondary card is useless for Your credit bureau but if you apply for instant credit at the Bay or Petro Canada (at the cash register) they will ask if you have an existing Credit Card (as a reference), you can use your friend's card and it will help get you accepted.

SCOPster wrote: ↑ When I was filling out form didn't see anything about annual fee being waived first year

It's listed under the Cost heading

c3uo wrote: ↑ How is this better then Rogers no annual fee world elite card? It gives 1.5% cash back with no annual fee. You’d have to spend > 24,000 to make up the difference, and if you do the cap on 2% cash back where it drops to 1% kills the deal.

Just checking in case I’m missing something.

The bonus CWB Rewards rates for some retailers are pretty good if you are a frequent customer, but they aren't as good as Brim. These are on top of the 2% (World Elite)/1% (No Fee Mastercard) cash back. Partners include Apple.ca and Walmart.ca.

Is this any better than the Brim mastercard right now?

Should be the same product as this one here: (discussed on RFD for over a month now in another thread / in another forum section / sub-section)


cwb-world-elite-mastercard-2-cash-back- ... g-2457522/


Should be Powered by BRIM

blu3xtc wrote: ↑ Is this any better than the Brim mastercard right now?

Brim is better ... but regular annual fee for Brim is 200 dollars vs 120 dollars here.

This card IS (or should be) powered by Brim by the way.