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I stick with cards that give me cash back. That way, I can make my own purchase choices in an infinite number of ways.
 

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I found that rewards cards are too restrictive, meaning great if you want the specific things they offer. With cash back you can invest that bonus or pay off your card faster, etc.
 

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well, which

A quick little survey for the members here; Which do you prefer in a credit card?

Straight money back from a card like this:
http://www.scotiabank.com/ca/en/0,,86,00.html
You will earn 4% cash back on the first $25,000 you spend annually at gas stations and grocery stores. 4% cash back applies at merchants which are classified in the Visa Inc. (VISA) network as Grocery Stores & Supermarkets, Service Stations (with or without ancillary services), and Automated Fuel Dispensers (Merchant Codes: 5411, 5541 & 5542). Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by VISA in another manner, in which case this added benefit would not apply.
or

points that you can use to redeem for flights and merchandise like this:
http://www.tdcanadatrust.com/produc...l-cards/td-first-class-visa-infinite-card.jsp

I'm trying to decide myself.
Read the quoted part of the fine print. Where do we get 4%? Do you know, I don't. All things equal, gimme da money.
 

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CTC MasterCard - I spend my 'rewards' on things I have to buy anyways , so no upsell to claim the points. Things like dish wash detergent, laundry detergent, Kleenex, toilet paper, garbage bags, cleaning and yard maintenance products.
 

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Cash back for me. Those reward cards are brutal. Absolute top retail value on everything and then some. Air miles are a rip-off too IMO. My wife and I saved them for years so we could get a really worthwhile trip/vacation, then, when we check they have disappeared. They timed out but we can buy them back, what a joke. I hate being taken advantage of.
 

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Discussion Starter · #13 ·
I figured it would be a landslide towards cash-back. My family swears by the TD rewards program for flights saying they save 800$ a year despite the horrible service offered by Expedia. On a 2000$ spending month with 1% back that's 20$; with TD rewards you would receive 6000 points which could be redeemed for 15$.
 

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Cash back for me too. I donate my cash-back rewards to charities that save/improve lives in developing countries. That generates a tax rebate, which I use to increase my donations in the following year. It's a painless way for me to do a little more good than I already do via my regular donations, and even a few hundred dollars can make a big difference to people who live on less than $1.25/day.
 

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I do cashback cards only, as I don't spend enough to make those travel reward points worthwhile. In many cases, those travel reward offers better percentage of return than the 1% cash back. But you'd have to plan ahead to spend those points and most of them have annual fees which, for me, wipes out the saving.

E.g. Assume an Aeroplan card that pays 1 point per dollar spend and cost $120/year. You can get a Toronto-Vancouver flight with 25000 Aeroplan points which normally cost $600+. $600/$25000 = 2.4% saving rate. If you can spend $25k in 1 year, then saving rate after fee is 1.92%. $25k in 2 years -> 1.44%. More than that you might as well use no-fee cashback card.

The Amazon.ca card does 1% cash back (Or 2% on amazon.ca) and rebates in statement credits when it reaches $20. No application or time lag to claim the rewards so I'm happy with it. Plus no foreign exchange fee (I do a lot of eBay shopping which many transactions were done in USD) so that's instant 2.5% rebate over all other cards
 

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I like getting a surprise $50 check in the mail every few months!
 

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MBNA cash back ... I too like that $50 "surprise contribution" to my account every now and then ... nice.
 

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LBCfan - here's the list of merchants where you'll receive 4% and 2% - http://www.scotiabank.com/ca/common/pdf/credit_card/visa_infinite_popular_merchants.pdf
One vote for this card. 4% gas and groceries is impossible to beat. Add 2% for recurring bill payments and 1% on everything else, it's gravy. Looking at easily over a $1000 this year.

Here are some exceptions to merchants not participating in the 4% gas/groceries:
No Frills
Oceans/Seasons
Costco
XTR gas
(also: City of Brampton does not allow Visa for property tax payments...would be a nice recurring 2% item)
 
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