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Sep 16, 2015 | 8:52 am

#2448

jerry305

Join Date: Sep 2010

Location: Canadia

Programs: A loyal Amerisuites customer... oh wait

Posts: 2,037

Quote:

Originally Posted by Hyacinthe

Beyond redeeming for flights and hotel rooms, MBNA is known for its cash-back rewards, and a main feauture of this program is the ability to redeem points for straight cash-back (5000 points= $50).
Source: https://www.ratehub.ca/credit-cards/...rd-point-value

CRA says that rewards that are paid out as cash back is taxable income.
I always go for a statement credit where possible.

http://www.cra-arc.gc.ca/tx/bsnss/tp.../menu-eng.html

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