Do you ever feel good looking at your credit card statement? Noooooo...right? Who does?
Here's another interesting question: How often do you check to see if your credit card company is giving you the best deal?
I was happy that I had a "rewards" option on my credit card for the spending. But it came with a limit.I could get up to $ in cash back each year depending upon how much I spend with my card.
This year, I had many expenses - my son's summer camp for 7 weeks, clothes and since my son started school this year, uniforms had to be purchased. So, I was aware that I had used my card for many of the justifiable expenses. But I wouldn't get any cash back as I had already crossed the maximum limit.
I had to re-evaluate what the credit card market had to offer to see if there were cards that gave me more bang for my hard earned buck. Surprisingly, I had a rotten deal and was just going with it. T'was time for a reality check ! So I set out to look for better deals on Canadian credit cards.
Here's my profile:
Based on my spending profile, I wanted a "No Annual Fee" credit card with "Cash Back Rewards".
After sifting through the infinite number of options, I came up with a list of cards that matched my needs. So, here are the nominees !
On carefully comparing the cash back percentage and the fine print that goes with it, I tried to analyse the card that would suit me the most.
Want to see the comparison chart for the top 6 Canadian credit cards with no annual fee ? Click here to see the comparison chart : Credit card comparison. I recommend taking a look at it before reading further.You'll know the traps in which you will fall and loose the cash back. After all we don't keep a tab on when a certain expense reaches $2500 and after that no cash back. So to continue to get cash back, I will have to start using another card that will reward me for spending.Practically,hmmm..no.. very difficult. Well, that's why some cards are popular and some aren't.
.Some of them give 2% cash back on groceries and gas but 1% on everything else.But guess what, in reality I am not going to be carrying 2 different cards and each time think which one I am going to use. When I am at the cashier, I want to pay and get out asap! So I had to choose the one card that gives me the maximum space to spend without constraints on what I am buying.Be it a washer or a sack of potatoes.
Most of the credit cards give you the option of using a cash back calculator to give you an idea of how much cash back you can expect from your spending.
Based on their outstanding features, we have a tie between the 2 nominees who made it to the final !
What credit cards do you carry in your wallet? Are they a winner for you? Do you know any Canadian credit cards that are better than what I have listed?
Here's another interesting question: How often do you check to see if your credit card company is giving you the best deal?
I was happy that I had a "rewards" option on my credit card for the spending. But it came with a limit.I could get up to $ in cash back each year depending upon how much I spend with my card.
This year, I had many expenses - my son's summer camp for 7 weeks, clothes and since my son started school this year, uniforms had to be purchased. So, I was aware that I had used my card for many of the justifiable expenses. But I wouldn't get any cash back as I had already crossed the maximum limit.
I had to re-evaluate what the credit card market had to offer to see if there were cards that gave me more bang for my hard earned buck. Surprisingly, I had a rotten deal and was just going with it. T'was time for a reality check ! So I set out to look for better deals on Canadian credit cards.
Here's my profile:
- We shop at Costco once or twice a month ( gas and groceries) and keep the shopping at other grocery stores to the minimum except for emergencies and some perishables.
- Some bills get charged on my credit card every month.
- We rent a car once or twice a year.( I have to mention this as some credit cards give you points for using Shell gas station or renting a car at Avis / Budget.)
- Dine out once a week. Coffee with friends etc.
- Occasional shopping for clothes, shoes as per need.
- We try to buy good quality "used" whenever possible even if it is expensive and take good care of it. We avoid buying many cheap products which will result in repeated purchases and a waste of money.
- Always pay the credit card amounts and no interests. ALWAYS.No balance transfers or minimum payments as well. Bottom line, I don't spend if I cannot afford it.Or at least I try very hard to stick to this principle.I'll give myself a pat on my back for trying so hard!
Based on my spending profile, I wanted a "No Annual Fee" credit card with "Cash Back Rewards".
After sifting through the infinite number of options, I came up with a list of cards that matched my needs. So, here are the nominees !
On carefully comparing the cash back percentage and the fine print that goes with it, I tried to analyse the card that would suit me the most.
Want to see the comparison chart for the top 6 Canadian credit cards with no annual fee ? Click here to see the comparison chart : Credit card comparison. I recommend taking a look at it before reading further.You'll know the traps in which you will fall and loose the cash back. After all we don't keep a tab on when a certain expense reaches $2500 and after that no cash back. So to continue to get cash back, I will have to start using another card that will reward me for spending.Practically,hmmm..no.. very difficult. Well, that's why some cards are popular and some aren't.
.Some of them give 2% cash back on groceries and gas but 1% on everything else.But guess what, in reality I am not going to be carrying 2 different cards and each time think which one I am going to use. When I am at the cashier, I want to pay and get out asap! So I had to choose the one card that gives me the maximum space to spend without constraints on what I am buying.Be it a washer or a sack of potatoes.
Most of the credit cards give you the option of using a cash back calculator to give you an idea of how much cash back you can expect from your spending.
- Up to 5% cash back on all of your eligible gas and grocery purchases for the first 6 months
- Up to 2% cash back on eligible gas and grocery purchases thereafter
- And, up to 1% cash back on all of your other eligible purchases
What credit cards do you carry in your wallet? Are they a winner for you? Do you know any Canadian credit cards that are better than what I have listed?
