Credit Cards

Options for Mastercard?

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  • Mar 12th, 2019 11:05 am
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[OP]
Sr. Member
Mar 7, 2005
764 posts
228 upvotes

Options for Mastercard?

I know there are a lot of threads about "what credit card is best", and I know that varies a lot. I will try and be specific, as I'm looking around for options to replace my MBNA WE card. MBNA changed up the fees and rewards and it's not as compelling a card as it used to be.

Situation:
Yes, it needs to be a mastercard as I need something to use at Costco
Currently have a TD Visa Infinite Travel card (non-Aeroplan)
A bonus would be trip cancellation insurance
Zero fee preferred, but willing to pay fee if the reward makes sense

So, here's how I see things. Option one is to get a zero fee mastercard just for Costco and use my TD Visa for everything else. Option two is get a good MC I use every day and keep my TD Visa for travel.

I have been hunting around and I'm honestly starting to consider the Rogers WE Mastercard. I know...I know...but 1.75% cashback, 2% on Rogers bills (cell & internet), 4% on forex stuff (not often, but comes in handy when travelling) and I thought I remember this doesn't add the extra forex charge (0.5%) to purchases.

Assume annual spending is $60k (put as much as possible on the card). Honestly, the Rogers card with zero fee comes somewhat close to my MBNA (under old program). TD Visa comes close to MBNA under new regime, assuming zero dollars spent at Costco. Yes, I know Costco has a mastercard, but it's honestly crappy rewards from what I can tell. We don't use gas or restaurants as much, so assume the majority of purchases fall under "all other purchases".

The real question I have is whether I'm missing an interesting card out there. My wife has a Hudson's Bay card which we could use for Costco, but I don't feel like building up points at HBC outside of purchases there.

Still weighing my options, but obviously something has to change. Reason I mention travel cancellation insurance is that I have the option to switch my TD card to a cashback which gives me roadside assistance. Again, trying to see what my options are, but not a deal breaker.

Thanks for anyone who might have some input!
9 replies
Member
Feb 9, 2018
379 posts
277 upvotes
Rogers WE or PC WE mastercard are good options for no-fee cards. PC is good if you shop at Loblaws stores like no-frills, fortinos, canadian super store etc for grocery and esso or fortinos gas stations for gas. Its not a cash back though. You can use optimum points for grocery at those stores. I use both these mastercards.
[OP]
Sr. Member
Mar 7, 2005
764 posts
228 upvotes
Yeah, I looked at the PC card as well. We just don't shop as much at these stores. I'm sure I could build up enough points to make it useful at SDM. Rogers seems to have better rewards for just general shopping. PC is still 1% on "all other purchases" while the Rogers one is 1.75%. Thanks for the reply!
Deal Addict
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Sep 6, 2018
1495 posts
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Halifax, Nova Scotia
I think PCF is only worthwhile for loyal Loblaws/SDM/Mobil customers. If you shop elsewhere, skip this card entirely.

I highly recommend Rogers WE for their no-fee 1.75% base earn.

Otherwise you could combine CTFS+Mogo for 2.5% return (1% as CT$ and 1.5% as a monthly deposit to MogoCard) but this method requires some hoop jumping/card management.
Deal Guru
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May 8, 2009
13667 posts
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Leask
aweawea wrote: I think PCF is only worthwhile for loyal Loblaws/SDM/Mobil customers. If you shop elsewhere, skip this card entirely.

I highly recommend Rogers WE for their no-fee 1.75% base earn.

Otherwise you could combine CTFS+Mogo for 2.5% return (1% as CT$ and 1.5% as a monthly deposit to MogoCard) but this method requires some hoop jumping/card management.
Mogo is not an MC, and OP wants an MC for MC only merchants.
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Sr. Member
Aug 5, 2018
534 posts
749 upvotes
I think it's fairly clear that you want a 1 card solution, or somewhere along those lines.

Then Rogers WE is pretty much the only card you would want, or need.

You mentioned roadside, Canadian tire triangle WE actually has that for no annual fee, so something to consider.

Are you interested in going after a high signup bonus? Typically, getting a good signup bonus earns you much more than getting an extra fraction of a percent.

Look into:

TD Aeroplan infinite (~$350), TD First class travel(~$320) ,BMO Airmiles WE (~$320), BMO (rewards) WE (~$223), Scotia momentum (~$170 + $55 GCR)

The BMO cards are mastercards.
Deal Fanatic
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Jan 9, 2011
9281 posts
10819 upvotes
Vancouver
Collabria has a 2% World Elite cash back Mastercard that is issued by many credit unions. The $120 annual fee might seem high, but if you are spending $60k/year like you say, this will beat the no-fee Rogers WE and has a much better insurance package, including the trip cancellation that you say you are looking for.

Many RFDers like to get a PayPower prepaid Mastercard and load up $500 at a time at a supermarket with Amex Cobalt, to get 5% back in Amex MR points. Then use the PayPower at places like Costco that don't take Amex. Subtract PayPower's loading and monthly fees and you still earn a minimum 3% return if you do this once a month, more if you do it more often. This is not a game for everyone though.

You say you prefer no annual fee, but honestly if you are spending $60k/year then you shouldn't even consider a no-AF card as your primary card. How much do you spend on gas and groceries/month? If it's more than $412.50, then drop another $99 annual fee on a Visa card that earns 4% in those categories.

If you only want one card and it must be a Mastercard then I recommend the 2% Collabria card. If you're willing to juggle a few to maximize your rewards, there are plenty of options.
[OP]
Sr. Member
Mar 7, 2005
764 posts
228 upvotes
Thank you for the responses! Never heard of the Collabria cards, but doing the math, I'm only ~$25 ahead after paying for the fee. If it has the trip cancellation insurance, I don't by the argument that if I spend X per year, I shouldn't consider a no-AF card. If I find something comparable with no fees, there's not much benefit to paying for it. The grocery/gas thing (bonus % for these items) aren't much benefit as groceries are largely bought at Costco (some stuff at the grocery store) and are usually excluded from this bonus.

I appreciate the tip on the CT WE card and roadside, but I called in and it only covers the primary cardholder, so doesn't work as well as I had thought. I'll keep looking around and if I see something off the beaten path, I'll let others know.
Deal Addict
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Sep 6, 2018
1495 posts
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Halifax, Nova Scotia
to_vento wrote: I appreciate the tip on the CT WE card and roadside, but I called in and it only covers the primary cardholder, so doesn't work as well as I had thought. I'll keep looking around and if I see something off the beaten path, I'll let others know.
∆WE roadside should let you choose between covering either 1 driver (regardless of vehicle) OR 1 vehicle (regardless of driver.)
[OP]
Sr. Member
Mar 7, 2005
764 posts
228 upvotes
aweawea wrote: ∆WE roadside should let you choose between covering either 1 driver (regardless of vehicle) OR 1 vehicle (regardless of driver.)
Two car, two driver household, so neither option works. I currently have a TD all-inclusive account with the First Class Infinite Travel. Based on everything I’m seeing and not wanting to carry around a stack of cards, I’m thinking of doing the Rogers WE for every day and switch my TD for the Infinite cash back (includes roadside for all card members). I only book one vacation a year, so still get trip cancellation on the Rogers as well as insurance. Yes, 10 days on Rogers vs 21 days on the TD travel, but rarely have more than a 7 day vacation anyhow.

Thanks all!

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