No need to have to, but useful to keep all true spent on a higher earning card while still getting sign up bonuses with spend requirements.

I get that. I just think that if you're taking advantage of these offers you should have the income to support a minimum spend legitimately. If one has scheme to these levels, I don't want them messing it up for the rest of us.

I wish we had better hotel credit cards in Canada. The AMEX SPG is the best one we have and only 1 starpoint per $ on non-hotel purchases, plus annual fee.

Depending on your usage it's actually a better card then Amex Gold Rewards in certain instances, gives you 5K extra when converting 20K, that's 1.25 miles/points for all purchases that Gold only gives you 1/$.

Same here. I am hoping to see more hotel co-branded credit cards as well in Canada. The AMEX SPG is decent, except that we only earn 1 Starpoint for all purchases, there is no bonus category. Definitely hoping to see the first year annual fee waived at some point.

Definitely how you leverage your points does play a role. Though I would say, if you can, just get both.

Well, I'm looking for a card for hotel stays, so I wouldn't be looking to convert to miles... For flights, I am already using/churning the Aeroplan /Amex Gold (regular and Business) cards.

Also, don't know why there are no good cards that give extra points for restaurant spending.I have the Scotia Amex Gold, which does give 4%, but of course, the restaurant I frequent doesn't accept AMEX.There is also the Costco Mastercard which gives 3%, but I would love to have a hotel/flight rewards card that gave extra points on dining, rather than a cashback card.

Any one manage to get a retention for the Amex SPG?

Yeah, I got 7000 points retention in November for the Canadian SPG Amex. Spend was between 20K and 30K.

I agree

Only card I know of is Chase Marriott VISA card
Double Marriott points on Restaurants

RBC BA card now offers 30k Avios - 15k upon enrollment, another 15k after $5k spend within 2 months. $165 AF. Offer ends June 30.

Last time this came around the same time as the 50% Avion:Avios bonus. Hoping to see it June 1st.

RBC's website still shows the 15k offer, but you can get the 30k from BA's website:
http://www.britishairways.com/en-ca/...s/credit-cards

Might be a good time to product switch.

I use my Marriott Visa exclusively at restaurants and for my foreign currency purchases...that's what it's best for!

Might only be good for new apps...not a product switch...

What makes you say that?

From experience...but every bank/card differs. Sometimes the application link is required to post an extra sign-up bonus OR there is a rule that extra bonuses only apply to new applications. A product switch may only post the 'regular' sign-up bonus. Best to check...

I have switched RBC products numerous times now and always got whatever bonus was advertised. I've have maintained BA for about 5 years for the first/business class companion pass and also rotate between Avion(15000), WestJet($250 westjet dollars + companion pass, and Shoppers(free but comes with optimum points)). In my opinion the value of BA has really decreased and am going to focus on Avion due to transfer bonuses to American who has way lower taxes than BA, or to BA if you want. I would actually cancel my BA but I have trips booked and the terms state that you must have a card in good standing at time of travel. Depends what you are redeeming for I guess, but at $165.00/yr the taxes are brutal, availability is terrible unless you book a year out that it is less and less attractive. 30000 points is way easier to get with a free Amex gold card for 25000 and an Avion which will give at least 15000 for $120/yr plus a 50% transfer bonus regularly. Looks like you would get 47500 for $120 with more flexibility.

Thanks for the data points and info.

Btw, you can have the Avion FYF by calling in, but I would assume that would only be on new applications. If it were physically possible to get more MR points, I would, trust me :p

I value Avios @ 2cpp even given the taxes. Obviously I would never fly on BA metal. The key with BA is short haul redemptions on partner airlines. Namely AA/US. You can fly LGA/JFK-MIA for 15k + $11 tax. Great deal. You can also fly YYZ-LGA/JFK for 9k + $65 tax. Also a great deal.

The main factor with the BA card is that there would be no impact to my credit score. So it is effectively buying 30k @ 0.55cpp. I agree that there are many cards out there that provide much better than that (i.e. Amex Gold 25k @ FREEcpp) however, you can't compare this to that as that requires a new inquiry/tradeline and this does not.

so even tho its only available on BA website right now, RBC may match it on a product switch if we call in?

I would think so. I'm sure RBC will have their website updated within a few days. I remember after the deal ended it wasn't removed immediately either.

What do you mean no impact on credit score? There is no inquiry for applying for this card?

I was referring to "product switching", which RBC allows you to do. You must already have an existing RBC card, no additional pull is required for switching and it does not effect how it is reported to the CB.

Sounds great. Which other banks/cards allowing product switching with no pull?

I think that BMO does. MBNA claims they will in the future, although I am not sure if they also pull or not.

TD does not do a pull for product transfer (or didn't for me), when i switched from a normal visa to their aeroplan visa infinite (i think it helped that i was preapproved for the required credit limit increase that the card needed).

i had a pull from TD despite doing a product switch to the infinite aeroplan and being preapproved. was not happy.

I had a pull from TD for opening a checking account with no overdraft protection. Was very upset.

Were you pre-approved for the credit limit increase as well? or just for the card? I'm wondering because i did the same thing and didn't have a pull.

I thought it was standard for a credit pull when opening a chequing account with a new bank?

Yeah, when you read on various forums online, seems TD got the better part of screwing up lately.

No, unless you request a credit product, or want cheques deposited into the account immediately available during the first month of account opening instead of waiting 7 days, banks have no reason to do a pull other then hitting your score.

Watch it when you sign the papers you tick the box you do not want credit pulled and do not want any credit products (having a cheque immediately available upon deposit is considered a credit product believe it or not).

Bankers think it is good to hard pull you on account opening, and don't mention it is hidden deep in their T&C.

If you want to make 100% sure, don't give your social insurance number. Yes, they can open an account without your number ... you're just limited in your movements during the first month.

Legally they can not force you to accept the hard pull, but they can refuse you to open an account.

Just argue your way and point them to the bad consequences of their action, you're just opening to park money kind of thing (and do it) and don't need credit products. The after opening, ask for the credit card, or wait 6-9 months parking a steady amount every month to get a pre-approval. Usually works.

Hmm interesting, never knew that. I guess it makes sense, if you don't want a credit product they shouldn't care what your credit report is like. Thanks for the info.

The $100 bonus from Coast Capital chequing account requires a hard pull through the online application. Took a 2 point hit to EQ score

They pay you for the score drop :cool:

Probably going off-topic here.

Seriously, first hand experience, if you're not happy with it, file a complaint with the ombudsman saying this was forced upon you under duress (without leaving another option) and you would not have accepted the hard pull should the financial institution have been upfront it was doing a hard pull, including a statement you did not request any credit from them (provided that is the case) and therefore refute the pulls.

Do not contest through equifax or put a consumer statement that you didn't request credit from them, that's "guaranteed" trouble for your score.

The ombudsman takes some time (count ± 6 months), and you won't see a score jump back overnight, but it is the only way to get financial institutions to behave towards credit files, and that financial institution to know you're not to mess with.

Should be like in the US, maximum 30 days complaint resolution, or else removed from the file forever after (I read that somewhere, don't know first had if that is true).

I've done a fair number of product switches with TD, CIBC, BMO and MBNA. I don't believe any of them resulted in a HP, at least I don't see them in my EQ report. They are the same asset/account/trade line in your credit file, even though it may be a new CC number, so the switch should have no affect on your score. I would try to get a verbal confirmation that there would be no affect to my credit score when I request the product change, but as per other people's reports, you could still get a pull...in this case I would call back and get them to re-play the conversation that assured there would be no credit pull, and have the FI submit a request to cancel/nullify the HP.

As for pre-approved offers, not all of them come with a guarantee that you will not get a HP, so again it's best to ask for confirmation. Personally, I've avoided several pulls with my pre-approves, but then when the new accounts are reported to the bureaus, then the score will eventually drop.

This is good info, thanks for posting!

My score has gone up by 2 points since (possibly due to other reasons), so I'm back to where I was. It's really not a big deal.

The upgrade/downgrade card transfer trick is a great way to churn cards with the credit card accounts you already hold, to avoid pulls but also ensure you get a sign-up bonus! I have done this successfully with BMO, CIBC and now RBC. I know sometimes that certain sign-up bonuses are only good for new applicants/banking customers (CIBC, in particular, seems to have a lot of these deals to draw new customers), which is why it's always good to call to do the transfer (although, RBC appears to be the only bank that allows the online transfers).

FWIW, I get AMAZING value with my Avios, so I churn ANY card that I can get Avios out of! If I hadn't already upgraded to the Avion card with RBC, I may have gone back to the BA Visa! When I originally opened my RBC CC account in 2012, it was with a BA Visa when they had a 50,000 sign up bonus! That was quite the score! Paid for two tickets to Hawaii! :)

i can't remember but the agent made no mention that they were going to do a credit check at any point during the call. i only applied through the phone because the application (via GCR) fails if you select existing customer and tell you to visit a branch. had i knew they were going to do a hard pull, i would've just chose new applicant instead and save myself from the headache of trying to get the rebate later

I can't find the RBC page that does the online transfers, could you please send a link/advise?

Disappointed with RBC
 

Pokee: Can you elaborate on the up/down-grade issue, and receiving a bonus? I downgraded from RBC Avion to Gold Rewards last year, after being assured that I would not lose the use of my points. I then found out that it's NOT possible to transfer points to AA or BA under the Gold card. I called RBC back to ask for resolution, and despite a lengthy conversation they were willing to do nothing other than inviting me to upgrade back to the Avion -- with no bonus and no AF waiver. They wouldn't even waive the AF.

People not caring enough is why FI get away with it in the first place...

The key in your upgrade/downgrade is to always transfer out all of your points first, before downgrading your card (if you cannot keep your points account active in another way - like with Aeroplan, for example). I think in your case, you got bad advice as I think Gold Rewards is RBC Rewards points, NOT Avion points. Different programs.

These were my RBC upgrades/downgrades:

2012/2013-Applied for new BA Visa. $165 annual fee; 50,000 bonus Avios
2014-Downgraded to an RBC Target Redcard Mastercard (no AF)
2015-Upgraded to an RBC Avion Visa. $120 Annual fee; 15,000 bonus Avion Points.

Plan to downgrade in 2016 to a no fee card I've never held; and then upgrade in 2017 to a BA Visa. This leaves at least 4 years in between each card with bonuses which improves my chances of getting the bonus points each time.

If you are logged into your credit card account, you should see "Account Details" and underneath that "Switch a Credit Card" in the top, left corner.