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Credit Cards experience - AMEX, TD, Capital One - con't
Originally Posted by JJonahJ
(Post 26056702)
Welcome to FlyerTalk!
The trouble with the Cap 1 card, is that it has the same shortcoming at its core, similar to other cards like the BMO Rewards World elite, where you have to spend a LOT on the cards annually, to get value out of these cards. If you have such a resource to tap into where you can throw $100k/$200K or more onto it each year, then you're laughing. No need to sign up for, or churn CCs to get up to par with the REAL FFs. And then from the redemption side of things, you're getting at most 2 cpm (correct me if I'm wrong), though you do then get the flexibility to book whatever revenue fare offerings are available. However, after giving a couple of these spend-based cards a trial, I came out feeling less than satisfied. It was particularly bad from the BMO front, since they require you to book through the BMO Rewards site, and for me, that loses a lot of possibilities and options. Since I am not a bonafide true frequent flyer, I had never been much of an Aeroplan player until I started churning cards, and even though it has huge holes in it's redemption model, if you can learn how to overcome those obstacles then, at least for our family, it's been the most rewarding program where we are redeeming at 2cpm to +12cpm (mainly long-haul business class). From the input end there have been so many different CC offers in recent years from Amex, TD and CIBC, to earn gobs and gobs of Aeroplan (or convertible 1:1 Amex Membership Rewards) points. And when you have good credit ratings, the churn comes into play and now you're doubling, tripling quadrupling the flow. Sadly, the torrential rainfall of free points has been significantly impacted lately, with several new policies and system enhancements by Amex. Even the TD stream is tightening up, compared to how free flowing they were handing out their cards when the launched into the Aeroplan race. Fortunately CIBC didn't bow out of the race and moved/adjusted their conduit of points flow. So, while the landscape has changed recently, there's still enough open grazing pastures out there, to keep the game alive. So if you want to look at Aeroplan offers, have a look at the Wiki at the top of these web pages (if you're viewing on a browser), if you want to visit the various threads on Amex, CIBC and TD cards. You have to decide what type of 'water' you want to play in, and then whether you want to cruise an ocean in a sail boat, or navigate the rapids with a kayak. Both can be satisfying. Totally get what you mean for Cap1 cards & similar. In that category, however, it still stood out as the best bank for your buck as the perks were simple: • 2 miles / 1$ spent (no condition on where/when/how like many cards do) – most cards still give 1 point/mile per 1$ or even per 1.5$ spent including a bunch of conditions • The 10K anniversary bonus made it worth it as it meant that the card cost 20$ per year (120$ annual fee). Recent changes: now 150$, no anniversary bonus, 40K miles signup bonus. So for new members, they break even after 2.67 years (at the latest of course cause I’m not factoring in expenses) after which, time to churn ☺ • The key perk as you mention is to be able to pick any airline & hotel so capitalizing on deals where Aeroplan isn’t delivering. In an ideal scenario, I can book using Cap1 reward miles with a Star Alliance partner and earn aeroplan rewards… win-win situation… but doesn’t always work & and obviously needs a lot of planning. I think you can benefit a great deal with Aeroplan by churning CCs yes and tracking promotions. I try to always opt for FYF promotions, which requires on point management to not miss cancellation time. So far, I haven’t had trouble to get approved for cards despite applying to multiple ones at a time and I'm accumulating Aeroplan points so quickly!! The big issue with Aeroplan bookings is the taxes, fees & surcharges that often amount to, if not surpass, the price of the ticket. MTL-FLORIDA is a good example where all the fees can amount to 200$+ when the ticket with a low cost carrier can be as low as 100$. The main trick is to pick the right airlines that don’t have fuel surcharges like Brussels AirlinesSwiss, TAM Airlines, Turkish Airlines and United and a few others. Of course, booking early and being flexible with dates is equally important. I'm trying a few CCs & looking into the recent offers to keep improving my cpm on earning & redemption. I'll soon give updates on my findings and experiences. Cheers! |
We used to do heavy duty spend on the Cap1 cards. My #1 problem was the $7,500 limit that required constant attention. Many times we paid the cards off several times during the month. Drove my wife's bookeeper nuts. They never ever increased the limit. I do get why, the interchange fees don't cover the 2% back. Close but Chase/Moneris etc take a cut (no idea how much of one) so Cap1 one is getting somewhere like 1.5%-1.7%?
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Originally Posted by mikeycanuk
(Post 26094754)
We used to do heavy duty spend on the Cap1 cards. My #1 problem was the $7,500 limit that required constant attention. Many times we paid the cards off several times during the month. Drove my wife's bookeeper nuts. They never ever increased the limit. I do get why, the interchange fees don't cover the 2% back. Close but Chase/Moneris etc take a cut (no idea how much of one) so Cap1 one is getting somewhere like 1.5%-1.7%?
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You missed the deal they cut with the Fed's last year (actually 2014) where in exchange for no new regulations they reduced the interchange fee's to 1.5% for 5 years.
http://www.cbc.ca/news/business/visa...ears-1.2822985 |
Originally Posted by mikeycanuk
(Post 26114827)
You missed the deal they cut with the Fed's last year (actually 2014) where in exchange for no new regulations they reduced the interchange fee's to 1.5% for 5 years.
http://www.cbc.ca/news/business/visa...ears-1.2822985 The 1.5% cap is the average rate including all card types (basic, world, and world elite) For world elite, basically the minimum interchange will be around 2% (for large volume merchants, supermarkets, gas stations), and goes up to 2.5% You can Google mastercard interchange canada 2015 to look at the PDF. I do see your point though, as even with what I said, the average C1 world elite interchange probably comes out to only 2.1% to 2.2%. If they're paying out 2% in rewards, their margins will be very thin. That's probably why the updated C1 Travel card is so terrible, and also I expect that terribleness may get even worse. |
Interesting, so that deal is a lot of smoke and mirrors, what a surprise...
Out of curiosity I just went to look at my Moneris statements but it's like hieroglyphics... only worse! Thankfully it's a small part of how I get paid. I do pay more due to most of my usage being manual entered, there is a premium for that. What I am curious about is the cut Moneris/Chase take. In the end we all know it's those who carry a balance that subsize those that spend like mad and pay in full...and the odd churn.. :D |
Capital One upgraded the Aspire World to Aspire World Elite, which meant that even after the drop in interchange fees, they are getting pretty much the same percentage
Old World is ~= new World Elite levels. |
Originally Posted by mikeycanuk
(Post 26116047)
Interesting, so that deal is a lot of smoke and mirrors, what a surprise...
Out of curiosity I just went to look at my Moneris statements but it's like hieroglyphics... only worse! Thankfully it's a small part of how I get paid. I do pay more due to most of my usage being manual entered, there is a premium for that. What I am curious about is the cut Moneris/Chase take. In the end we all know it's those who carry a balance that subsize those that spend like mad and pay in full...and the odd churn.. :D |
Didn't realize the Capital IHG card is gone. Was planning to sign up for it sometime this year :(
Any rumours if Canada will be getting a new one anytime soon? |
HHonors Gold - Coming to Amex Canada Platinum
Not sure where to post this.
HHonors Gold - was announced for the US Platinum Card some time ago. Was wondering if it was going to be added to the Amex Canadian Platinum card. Never saw an announcement - but when I logged into my account this week - I noticed an announcement for it on the "Travel/Hotels" page. It says: "Coming Soon: Complimentary HHGonors Gold Status" That is good news. It will allow me to maintain status with Hilton after Diamond status match expires. Also a little insurance against greatly reduced Hotel status on this card after the Marriott/Starwood and Accor/Fairmont mergers. Although, its probably the status I value the least. |
Originally Posted by codesinvan
(Post 26126407)
Not sure where to post this.
HHonors Gold - was announced for the US Platinum Card some time ago. Was wondering if it was going to be added to the Amex Canadian Platinum card. Never saw an announcement - but when I logged into my account this week - I noticed an announcement for it on the "Travel/Hotels" page. It says: "Coming Soon: Complimentary HHGonors Gold Status" That is good news. It will allow me to maintain status with Hilton after Diamond status match expires. Also a little insurance against greatly reduced Hotel status on this card after the Marriott/Starwood and Accor/Fairmont mergers. Although, its probably the status I value the least. I have just logged into the AMEX Canada Platinum website and I can confirm that Hilton HHonors complimentary Gold status will be available to Canadian AMEX Platinum members. |
Originally Posted by codesinvan
(Post 26126407)
Not sure where to post this.
HHonors Gold - was announced for the US Platinum Card some time ago. Was wondering if it was going to be added to the Amex Canadian Platinum card. Never saw an announcement - but when I logged into my account this week - I noticed an announcement for it on the "Travel/Hotels" page. It says: "Coming Soon: Complimentary HHGonors Gold Status" That is good news. It will allow me to maintain status with Hilton after Diamond status match expires. Also a little insurance against greatly reduced Hotel status on this card after the Marriott/Starwood and Accor/Fairmont mergers. Although, its probably the status I value the least. |
I suppose it's a nice thing that Amex added the least valuable hotel status/program but there's a long ways to go in making this thing actually worth keeping.
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Originally Posted by mikeycanuk
(Post 26094754)
We used to do heavy duty spend on the Cap1 cards. My #1 problem was the $7,500 limit that required constant attention. Many times we paid the cards off several times during the month. Drove my wife's bookeeper nuts. They never ever increased the limit. I do get why, the interchange fees don't cover the 2% back. Close but Chase/Moneris etc take a cut (no idea how much of one) so Cap1 one is getting somewhere like 1.5%-1.7%?
The worst is that I had a very complicated situation with a last minute work trip (3 weeks to Australia) for which I had to pay on my personal CC, and to make a long story short, I had a big hotel reservation issue that I could only solve with more credit on my card. You wouldn't believe the trouble I had it was a real nightmare. Cap 1 never increased my limit and couldn't even offer me a temp solution. I have never seen such lack of flexibility in my life. Thankfully, the Accor hotel in Australia showed amazing hospitality & service or I was not going to have a place to stay for the first few days in Australia. |
Originally Posted by Bonaventure
(Post 26130849)
I suppose it's a nice thing that Amex added the least valuable hotel status/program but there's a long ways to go in making this thing actually worth keeping.
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Originally Posted by Nathalie.OroLoyalty
(Post 26133056)
Oh I totally get what you mean. When I first got this card, my limit was at $5,000 even though both my credit score & my income warranted way more than that. It took 3 years to get Cap 1 to increase my credit limit. They are unbelievably strict on that.
The worst is that I had a very complicated situation with a last minute work trip (3 weeks to Australia) for which I had to pay on my personal CC, and to make a long story short, I had a big hotel reservation issue that I could only solve with more credit on my card. You wouldn't believe the trouble I had it was a real nightmare. Cap 1 never increased my limit and couldn't even offer me a temp solution. I have never seen such lack of flexibility in my life. Thankfully, the Accor hotel in Australia showed amazing hospitality & service or I was not going to have a place to stay for the first few days in Australia. or... say an AMEX that has "no limit" within your financial means? |
Originally Posted by loun80
(Post 26127295)
I have just logged into the AMEX Canada Platinum website and I can confirm that Hilton HHonors complimentary Gold status will be available to Canadian AMEX Platinum members.
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https://www.nbc.ca/en/personal/credi...ws.html#travel
No more welcome bonus points. It now comes with $250 "annual travel reimbursements" though. $100 Airport parking reimbursements $50 seat selection reimbursements $100 Airline baggage fees reimbusements This benefit is "per year".... calendar year? If so, $500 of these very specific travel credits isn't horrible for a Canadian card, if you have a use for them. |
Originally Posted by zer0k1
(Post 26138846)
https://www.nbc.ca/en/personal/credi...ws.html#travel
No more welcome bonus points. It now comes with $250 "annual travel reimbursements" though. $100 Airport parking reimbursements $50 seat selection reimbursements $100 Airline baggage fees reimbusements This benefit is "per year".... calendar year? If so, $500 of these very specific travel credits isn't horrible for a Canadian card, if you have a use for them. :cool: |
So unless I am missing something the RBC Westjet card is only as good as its sign up perk;
99$ annual fee traded for a 250$ westjet dollars and a 99$ + tax companion trip; So when it is all said and done sign up for the card gets you basically a 2for1 domestic / transborder flight (250$ westjet traded to cover the annual fee, companion fee and part of the taxes (Depending on your trip and origin)). The 1% Westjet dollar cash back is a joke in terms of value so this is really a burn and churn sort of card... |
Originally Posted by hearna
(Post 26151596)
So unless I am missing something the RBC Westjet card is only as good as its sign up perk;
99$ annual fee traded for a 250$ westjet dollars and a 99$ + tax companion trip; So when it is all said and done sign up for the card gets you basically a 2for1 domestic / transborder flight (250$ westjet traded to cover the annual fee, companion fee and part of the taxes (Depending on your trip and origin)). The 1% Westjet dollar cash back is a joke in terms of value so this is really a burn and churn sort of card... Also, keep in mind, WestJet dollars can only be used towards the base fare of the ticket. One more little perk is the free checked bags |
Originally Posted by hearna
(Post 26151596)
So unless I am missing something the RBC Westjet card is only as good as its sign up perk;
99$ annual fee traded for a 250$ westjet dollars and a 99$ + tax companion trip; So when it is all said and done sign up for the card gets you basically a 2for1 domestic / transborder flight (250$ westjet traded to cover the annual fee, companion fee and part of the taxes (Depending on your trip and origin)). The 1% Westjet dollar cash back is a joke in terms of value so this is really a burn and churn sort of card... If you get a mortgage with RBC they give you 3 free months of vip banking so a good time to sign up for premium cards and order cheques. |
Originally Posted by Cruban
(Post 26162588)
FYI fee is waived for those that have RBC VIP banking.
If you get a mortgage with RBC they give you 3 free months of vip banking so a good time to sign up for premium cards and order cheques. |
Originally Posted by zer0k1
(Post 26164323)
Would they waive prestige avion?
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Originally Posted by BenSenise
(Post 26165212)
i asked them that last year and they said no. from memory, they said they would give a rebate but i don't remember how much. might have been the fee of the Infinite Avion applied to the prestige.
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Has anyone based in Canada given the IHG surprises promo a go? I'm off to the US this week so I banged out some index cards in my spare time (pretending to be a US resident, of course...)
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Originally Posted by flyer05
(Post 26165248)
Has anyone based in Canada given the IHG surprises promo a go? I'm off to the US this week so I banged out some index cards in my spare time (pretending to be a US resident, of course...)
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Canadian addresses are ineligible to be registered, I tried
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Originally Posted by flyer05
(Post 26165248)
Has anyone based in Canada given the IHG surprises promo a go? I'm off to the US this week so I banged out some index cards in my spare time (pretending to be a US resident, of course...)
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Originally Posted by BenSenise
(Post 26165212)
i asked them that last year and they said no. from memory, they said they would give a rebate but i don't remember how much. might have been the fee of the Infinite Avion applied to the prestige.
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Originally Posted by prmetime
(Post 26165382)
Does your IHG account have a Cdn address? I'd be interested if it works. Promos like this which are U.S. only really irritate me when they don't offer the same, or something equivalent, to those customers in Canada.
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I do apologize if this has been asked before, but I did a search here and on Google and couldn't find it easily. A recently approved CIBC Aerogold Business cc requires pick-up at a local branch. Is there any way around this? If not, is there a period of time the cards needs to be picked up by? (e.g. can be it be picked up 3 months after card approval). Thanks in advance!
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Originally Posted by msfrugalista
(Post 26202790)
I do apologize if this has been asked before, but I did a search here and on Google and couldn't find it easily. A recently approved CIBC Aerogold Business cc requires pick-up at a local branch. Is there any way around this? If not, is there a period of time the cards needs to be picked up by? (e.g. can be it be picked up 3 months after card approval). Thanks in advance!
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anyone else still have the IHG C1 card, that just got Elite Spire status and 25K points to go along with it?
It seems like the old card grants Spire instead of Platinum now. I was thinking of cancelling ours and cleaning out the IHG points, but $120 AF for 25K annual IHG points is not too bad... |
Originally Posted by Cerenity
(Post 26202989)
anyone else still have the IHG C1 card, that just got Elite Spire status and 25K points to go along with it?
It seems like the old card grants Spire instead of Platinum now. I was thinking of cancelling ours and cleaning out the IHG points, but $120 AF for 25K annual IHG points is not too bad... |
Originally Posted by Cerenity
(Post 26202989)
anyone else still have the IHG C1 card, that just got Elite Spire status and 25K points to go along with it?
It seems like the old card grants Spire instead of Platinum now. I was thinking of cancelling ours and cleaning out the IHG points, but $120 AF for 25K annual IHG points is not too bad... That's nice. Nothing here Is it your renewal date? did you actually see the 25K on Cap1 website/statement first, and then transferred? |
Originally Posted by Cerenity
(Post 26202989)
anyone else still have the IHG C1 card, that just got Elite Spire status and 25K points to go along with it?
It seems like the old card grants Spire instead of Platinum now. I was thinking of cancelling ours and cleaning out the IHG points, but $120 AF for 25K annual IHG points is not too bad... |
I actually got this card back in August, so the 25K is not related to the 60K at all. The 25K is part of the annual benefit of being Spire Elite (choice between 25K or gift platinum to someone else). I just got the email yesterday congratulating me on new Spire Elite status, went to the IHG website, clicked on the benefit links, and the 25K showed up instantly in my account.
No idea if it is a mistake, or if C1 is changing this card's benefit to Spire Elite instead of Platinum. Thus I wanted to see if anyone else is in the same boat. I actually just cleared out the account and booked some reward nights, and was not planning to continue with IHG... hahaha. Guess I will have to at least re-think that |
Originally Posted by Cerenity
(Post 26204598)
I actually got this card back in August, so the 25K is not related to the 60K at all. The 25K is part of the annual benefit of being Spire Elite (choice between 25K or gift platinum to someone else). I just got the email yesterday congratulating me on new Spire Elite status, went to the IHG website, clicked on the benefit links, and the 25K showed up instantly in my account.
No idea if it is a mistake, or if C1 is changing this card's benefit to Spire Elite instead of Platinum. Thus I wanted to see if anyone else is in the same boat. I actually just cleared out the account and booked some reward nights, and was not planning to continue with IHG... hahaha. Guess I will have to at least re-think that |
Originally Posted by Cerenity
(Post 26204598)
I actually got this card back in August, so the 25K is not related to the 60K at all. The 25K is part of the annual benefit of being Spire Elite (choice between 25K or gift platinum to someone else). I just got the email yesterday congratulating me on new Spire Elite status, went to the IHG website, clicked on the benefit links, and the 25K showed up instantly in my account.
No idea if it is a mistake, or if C1 is changing this card's benefit to Spire Elite instead of Platinum. Thus I wanted to see if anyone else is in the same boat. I actually just cleared out the account and booked some reward nights, and was not planning to continue with IHG... hahaha. Guess I will have to at least re-think that |
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