Laurentian Bank Credit Cards -- up to $750 SUB on Infinite card

they now allow online apply? before it was not working at all only option was to call in

Solid offer!
MSR = $5,000
To maximize earnings on MSR, spend all in grocery, gas, travel, and transportation. 12x points on those = 60,000 points = $600
Spend in the "other" category, 2x points = 10,000 points = only $100.
Extra $100 for setting up recurring payment
Extra $50 for setting up payment installment plan

I probably wouldn't bother with the last one, so easy $700.

The welcome offer for the regular (non-Infinite) Visa is solid as well.
6% on grocery, gas, recutting payment during MSR period, up to $5k = $120
$50 for adding authorized user
$100 for setting up recurring payment
AF = $65, waived first year

That's a $270 welcome bonus already, add another $50 for setting up a payment instalment plan, so up to $320.
This is the the highest welcome bonus I have ever seen on a Visa or Mastercard that was available to people with income < $60k.

The WB on the no-AF Rewards Me card is solid as well. Also available to those with incomes < $60k.
$50 on first purchase
$50 when adding authorized user
$50 for setting up recurring payment

That's an easy $150 with no MSR.
Add $3k spending on grocery, gas, recurring payment and earn 3% or $90
Total = $240 for $3k MSR

Kiraly wrote: ↑
This is the highest welcome bonus I have ever seen on a Visa or Mastercard that was available to people with income < $60k.

Do you mean for cashback? Because Aventura Gold is well above $270 if you RHT. And was as high as $562 until recently. Avion Platinum is 35K Avion points. Both are below $60K.

Good offer. But it’s a bit difficult to spend $5000 on gas, grocery, recurring, travel and transit in a short amount of time. Any suggestions?

EdisonL299 wrote: ↑ Good offer. But it’s a bit difficult to spend $5000 on gas, grocery, recurring, travel and transit in a short amount of time. Any suggestions?

Gift cards or prepaid Visa/MC at the grocery store.

hubbabubba73 wrote: ↑ Do you mean for cashback? Because Aventura Gold is well above $270 if you RHT. And was as high as $562 until recently. Avion Platinum is 35K Avion points. Both are below $60K.

Good point. But I'm a little bitter about that card based on my recent experience lol.

Kiraly wrote: ↑ I can't BELIEVE these clowns.

• Nov 6: Applied online for Gold card. Crickets after that for two months.
• Jan 10: Called in after receiving email that they needed more info. They said they'd approve my application if I moved some CL over from my Costco MC. I said yes and moved $15k. She said the welcome package would be in the mail.
• Jan 28: Called in after nothing received and Costco MC CL still showing the same amount. They had no record of the Jan 10th conversation and request. Went through the same thing again.
• Feb 10: Called in after STILL nothing received and Costco MC CL STILL showing the same amount. They said my application was now expired because it had been made more than 90 days ago! Asked for manager. Manager said that the only thing they could do would be to start a NEW application, with a NEW credit file inquiry. I hung up.

Unbelievable!

efrant wrote: ↑ https://www.laurentianbank.ca/en/personal/credit-cards

I'm assuming these are quite new, as I saw an article on Feb 13 calling them out. They are all cashback cards, with SUBs (for minimum spend, adding supplementary users, setting up pre-authorized payments, and setting up an instalment plan) ranging from as much as $750 on the Infinite card to a net $60 on their low rate card.

Here are the details on the Infinite card and SUB:

AF: $130, FYF
Supplementary card fee: $50, waived first year for up to two cards
Earn rates: 2% on gas, grocery, recurring, travel and transit, 1% on everything else.

MSR: $5k
SUB earn rate: 6x the standard rate up to the MSR, so 12% on gas, grocery, recurring, travel and transit, 6% on everything else. (Max cashback of $600, i.e., 12% on $5k.)
Other bonuses: $100 for adding a PAP within the first three months, and $50 for setting up an instalment on one purchase within the first three months.

I looked at the site and could not find that MSR was $5,000? ( Maybe I'm blind ) I see that the welcome bonus is only up to 5K in spending for the first 3 month. I did apply and it went to manual review.

takodakoko wrote: ↑ I looked at the site and could not find that MSR was $5,000? ( Maybe I'm blind ) I see that the welcome bonus is only up to 5K in spending for the first 3 month. I did apply and it went to manual review.

In the first 3 months, you’ll get 6x the points equal to 12% in cash back on gas, grocery, travel, transportation and recurring payments. You’ll also earn 3x the points equal to 3% in cash back on all other eligible purchases up to a total combined spend of $5,000.

takodakoko wrote: ↑ I looked at the site and could not find that MSR was $5,000? ( Maybe I'm blind ) I see that the welcome bonus is only up to 5K in spending for the first 3 month.

I guess it's poor wording on my part. There is no MSR, as it's a cashback card. But in order to hit the full SUB, you need to spend $5k.

efrant wrote: ↑ I guess it's poor wording on my part. There is no MSR, as it's a cashback card. But in order to hit the full SUB, you need to spend $5k.

Thanks for clarification

The SUB is kinda misleading in that the MSR is lumped together with the SUB. The SUB is only 10% if the MSR is spent entirely on 2% cat. IMHO this an average churner CC. After first year, even the TD first class travel is better with effectively a $39 AF not even including the anniversary bonus.

LOL808 wrote: ↑[snip]
The SUB is kinda misleading in that the MSR is lumped together with the SUB. The SUB is only 10% if the MSR is spent entirely on 2% cat.

I've never really applied for any cashback cards. Is the SUB not set up similarly for other cashback cards?

LOL808 wrote: ↑ IMHO this an average churner CC. After first year, even the TD first class travel is better with effectively a $39 AF not even including the anniversary bonus.

Definitely not a keeper after the first year. But in terms of a cashback churn card, it's pretty good IMO. $750 is great. Yes, it takes more spend that the $563 that you can get from an Aventura card (if that's even still available), but plenty of folks here have more spend than they can use on MSRs anyway, and that spend needs to go on a card somewhere. What would you rather do: spend $1 on an Aventura and get $563, and spend the remaining $4,999 on a non-churn card, or spend $5k on this card and get $750? If your spend is limited, definitely the former. But if your spend exceeds possible MSRs, then definitely the latter.

At the end of the day, it could be misleading to look at "percentage returns" rather than "dollar returns". (Finance guys will obviously recognize the whole IRR vs. NPV logic.) There are a lot of assumptions that need to hold true for a higher percentage return to give you more economic value.

10000000000000000000000000000000000000% agree. They added so much constraints and fluff into the wording, and no doubt some people will get caught up in the 'welcome bonus'. This is rubbish offer and nothing to see here. As the saying goes, "you can put lipstick on a pig" and all that. LMAO

LOL808 wrote: ↑ The SUB is kinda misleading in that the MSR is lumped together with the SUB. The SUB is only 10% if the MSR is spent entirely on 2% cat. IMHO this an average churner CC. After first year, even the TD first class travel is better with effectively a $39 AF not even including the anniversary bonus.

The card is a keeper for me because of the travel insurance, especially the:


Hospital, medical and paramedical care

Up to a $5 million out-of-province coverage, for you and your family:

Maximum of 15 days for clients aged 66 to 75

Maximum of 31 days for clients aged 65 and under

The Cashback is a bonus for me.

efrant wrote: ↑ I've never really applied for any cashback cards. Is the SUB not set up similarly for other cashback cards?


Definitely not a keeper after the first year. But in terms of a cashback churn card, it's pretty good IMO. $750 is great. Yes, it takes more spend that the $563 that you can get from an Aventura card (if that's even still available), but plenty of folks here have more spend than they can use on MSRs anyway, and that spend needs to go on a card somewhere. What would you rather do: spend $1 on an Aventura and get $563, and spend the remaining $4,999 on a non-churn card, or spend $5k on this card and get $750? If your spend is limited, definitely the former. But if your spend exceeds possible MSRs, then definitely the latter.

At the end of the day, it could be misleading to look at "percentage returns" rather than "dollar returns". (Finance guys will obviously recognize the whole IRR vs. NPV logic.) There are a lot of assumptions that need to hold true for a higher percentage return to give you more economic value.

Yes similarly but not the same.
If we compare this to the TD cashback, the 10% (now 6%?) cashback is on the first $2k, but it can be spent on anything.

However, it make more sense to compare this CC to the TD First Class as both earn points which could be redeemed differently. For the TD FCT, the MSR is also $5k in 6 months. But, it could be spent on anything and the points thus earned are in addition to the SUB which is currently 145k pts which could be worth $725. If you spend the $5k on the 4% cat, then you will net an extra $200.

takodakoko wrote: ↑ The card is a keeper for me because of the travel insurance, especially the:


Hospital, medical and paramedical care

Up to a $5 million out-of-province coverage, for you and your family:

Maximum of 15 days for clients aged 66 to 75

Maximum of 31 days for clients aged 65 and under

The Cashback is a bonus for me.

If insurance is what you are looking for, you should consider the NBC WE MC: https://www.nbc.ca/personal/mastercard- ... elite.html The card is essentially free ($150 AF offset by $150 travel credit).

Emergency Medical Care (EMC) Outside of the Province of Residence

(Warning: Covers only the primary cardholder, a spouse travelling with the primary cardholder on a trip and any accompanying dependent child. The spouse who travels without the primary cardholder is covered only if he is also a cardholder; in which case the dependent children who travel with him are also covered.)

Up to $5,000,000 per person Covers any trip up to (depending on age):
> Age 54 and under: 60 days
> Age 55 to 64: 31 days
> Age 65 to 75: 15 days
> 76 and over: no coverage

If the length of the trip exceeds the maximum number of days, no coverage is offered for that trip

LOL808 wrote: ↑ Yes similarly but not the same.
If we compare this to the TD cashback, the 10% (now 6%?) cashback is on the first $2k, but it can be spent on anything.

However, it make more sense to compare this CC to the TD First Class as both earn points which could be redeemed differently. For the TD FCT, the MSR is also $5k in 6 months. But, it could be spent on anything and the points thus earned are in addition to the SUB which is currently 145k pts which could be worth $725. If you spend the $5k on the 4% cat, then you will net an extra $200.

Not sure what you mean by "both earn points which could be redeemed differently".

But yes, I agree that the TD card SUB is better IMO, though one thing to keep in mind is that, unlike you or I, not everyone wants to go through the required trickery to get the full 0.5cpp value. The Laurentian card is cashback.