Credit Card decisions.

[xcfzm94]

Ive been debating on which credit card to get.

I live in Canada, and im going to get a secured credit card and I have two choices,

One that gives 2% back on grocery, and 0.5% back for 6000 and 1% after 6000 in purchases. But this will be credited to my January statement like most cashback cards (at least credit wise)

But there is a rewards card, that give one point for one dollar. But in comparison- its 3000 points for a 25 dollar gift card at most places.

Or I can go with another bank's credit card, that gives 0.25 on the first 500, 0.5 on the next, and 1% on the next 1000 and over. I dont know if thats monthly or annually though, i havent talked with a FA at this bank about it yet.

These are the sites - well since i cant post them card names maybe you acn do a quick scan.

RBC Cashback Mastercard
RBC Signature Rewards
Scotiabank L'earn Visa

[bjl584]

I guess it depends how much you charge on a credit card annually.

[xcfzm94]

I guess it depends how much you charge on a credit card annually.

Not much really like maybe 5k?

[Jerry91]

Unless you have all the required information about the credit card of the other bank which offers 1% on the next 1000, you won’t be able to take the right decision. You should clarify that with the FA of the bank and then choose the best among the two.

[snafu]

Welcome to SA. None of the Canadian CC cash back programs are very good but even minuscule rewards are helpful. If you can put the items you pay every month like utilities [phone/heating/electric], auto & home insurance, food on CC they bump usage and you pay those anyway. If you shop Loblaws we found their PC program slightly better.

[EddyWillard]

Welcome to SA. None of the Canadian CC cash back programs are very good but even minuscule rewards are helpful.

How about the MBNA Smart Cash Mastercard? 5% cash back on gas and groceries for the first 6 months. It's a bummer that the deal doesn't last longer (like similar AmEx card, which cap purchases at $6k per year), but even once the deal expires you still get 2% cash back on G & G up to $400 a month. Not too shabby at all.