When I usually don’t write about my portfolio updates, dividend portfolio or review stocks and mutual funds, I tend to review other aspects of the financial word and one of them is the credit cards. We all know that the credit cards have huge impact on our personal day-to-day lives and financial impact if we do not use it correctly in our spending’s.
We gotta always know our spending limits or paying that hefty bill at the end of the month can hamper our pockets and finances as well or you end up paying huge interests or 20%.
So here I am listing 3 great Canadian cash back credit cards which offer great cash backs. You can pick the right one for you.
All of us want free cash. Free cash can be in the form of cash backs for the spending’s that we do over our credit cards every day and every month.
The cash back you earn can be used to pay off your credit card bills.
So what are we waiting for. Lets get started.
1. Scotia Momentum Visa infinite card
Pre requisites – Individual earning minimum $60000 or household income of $100000.
Key features & Benefits :
1. 4% cash back on grocery and gas
2. 2% cash back on recurring payments and drug store payments
3. 1% cash back on everything else
4. Travel insurance package
5. Extended warranty
6. Purchase protection
7. Purchase APR – 19.99%
8. Annual fee waved for first year
9. Cash advance/balance transfer APR: 22.99%, balance transfer APR 1.99% for the first six months
10. Ideal for families with large grocery bills as you receive full 4% cash back on grocery and gas bills. Please take a note that there is a cap for 25000 dollars for the higher cash back.
11. As most of the cards these day you get 21 days grace period before interests starts kicking in.
12. You can get 20% off your Avis car rentals.
2. BMO Cash back World Elite MasterCard
Pre requisites – Individual earning $70000 or family income of $120000
Key features & Benefits :
1. 1.75% flat cash back on any purchase. So it’s not limited to your grocery shopping or gas station bills. There is no cap on earning the cash backs.
2. Annual fee of 120 dollars, waved off for the first year.
3. There is special promotion going on right now, you can get up to $150 free cash back. You get $50 after making your first purchase with the credit card and another $100 when you spend $3,000 in the first three months.
3. Tangerine Money-Back Credit Card
Pre requisites – N/A
Key Features & Benefits :
1. 2% cash back of the two categories you choose and third category if you have a Tangerine savings account attached to your credit card account.
2. 1% cash back in all other categories other than the 2 you have selected.
3. 4% cash back on the two categories you have chosen for the first three months. Not a great deal but still you can get some free cash.
4. Low 1.5% foreign currency transaction fee.
5. Cash back is redeemed automatically each back. Now, this is an awesome feature. You get your cash back right at the end of each month.
6. No upper cap limit on spending and cash back money earned. Good one!
7. No annual fee. Yeah you got it right, there is no annual fee.
Please feel free to leave your comments and share if you like this post.