Within a single tier differences between the various cards are marginal. If you qualify for a premium card those are obviously the "best", but it also depends on your travel patterns. Will you make the $599 annual fee back in benefits? One thing to consider too is where you do your banking. For example, if you bank with CIBC or TD it makes senses to get a card there as they could waive the annual fees (up to $139) if you own other products. For example, if you have their better banking package they waive the annual fee, or with CIBC they waive it too if you have $100k+ invested with them.
Originally Posted by
Robyyz
I'm new to Canada (from here but was abroad for a long time). I see the three premium individual CC's (CIBC, TD priv, Amex reserve). First time signing up.
Thanks!
If you meet the income requirements for the premium cards then go for it!
I know a couple of permanent residents (very new to Canada, no job here yet, no established credit history, etc.) and they have been approved for the no-fee CIBC Aeroplan card. It doesn't have all the bells & whistles of the better cards (no lounge access, no free bag, etc.) but you still earn 1 Aeroplan point per dollar spent. It's also a great option for students. It's certainly not the "best" card, but it's still a pretty good card to get started.