Credit cards are a great and powerful tool. If used correctly, you can save a significant portion of money with no additional expense! 🙂
Here are the top Canadian Credit Cards for the average person to save on general daily expenses.
I've focused on credit cards that should earn you cash back or points for every purchase you make. This is a good article if you just want to earn points without worrying about special categories like spending at restaurants, groceries, etc. I will create another blog post for that later.
American Express Green Card
A hidden gem and the lesser known of the AMEX card listing, yet something to surely consider.
Here's why the card is really unique:
- Every dollar spent earns you one reward point.
- These points can be redeemed directly on your credit card statement.
- This works out to getting you 1% cash back on your purchases.
- However, these reward points could be transferred to travel reward partners, the key one being Aeroplan
- An Aeroplan point could be worth up to 2.1 cents, depending on several conditions and they way you book your flight.
- They are surely worth more than 1 cent.
- For these reasons, transferring points to Aeroplan turns this card into a 2% cashback card!
- Unlike most cards, this card does not have any income requirements. You just need to be a Canadian Resident.
- There's no annual fee! 🙂
- There are great offers from AMEX from time to time.
Sign up bonus - Value = $230!
If you use the above link to register with a Great Canadian Rebates, you get the following:
- Value $200!: Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your Card in the first 3 months of card membership.
- Extra $30: Registering and signing up for Great Canadian Rebates gets you an additional $30 via the website themselves, if you proceed to use them to sign up for the Amex Card.
Summary
- This card earns you up to 2% cashback if used via Aeroplan redemption.
- There's no annual fee.
- The sign up bonus is valued up to $230.
American Express SimplyCash Card.
Here's why the card is really good card for day to day use:
- You straight up get 1.25% cash back on your purchases.
- This works well for people who don't travel or want a points based card, its simple cash back.
- The cash back is automatically redeemed to your credit card once a year, simple!
- This card too does not have any income requirements. You just need to be a Canadian Resident.
- There's no annual fee! 🙂
- This card too earns great offers from AMEX from time to time.
Sign up bonus - Value = $130!
If you use the above link to register with a Great Canadian Rebates, you get the following:
- Value $100!: In your first 10 months as a new SimplyCash Card from American Express Card member, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months.
- Extra $30: Registering and signing up for Great Canadian Rebates gets you an additional $30 via the website themselves, if you proceed to use them to sign up for the Amex Card.
Summary
- This card earns you up to 1.25% cashback directly as a credit on your credit card statement.
- There's no annual fee.
- The sign up bonus is valued up to $130.
Rogers World Elite Mastercard
If you meet the income requirement of $80,000 annual personal income or $150,000 annual household income, then this is a really great direct cash back card for you.
Here's why.
- It has a fixed cashback earn rate of 1.5% on all your purchases!
- The earnings can be redeemed for cash, no gotchas, just a credit statement once you earn just enough to get $20 back.
- There's absolutely no need to have a Rogers Phone or Cable account.
- No annual fee, it's a free credit card.
Sign up bonus - Value = $75!
If you use the above link to register with a Great Canadian Rebates, you get the following:
- Value $25: Get $25 for just signing up and getting the card.
- Extra $50: Registering and signing up for Great Canadian Rebates gets you an additional $50 via the website themselves, if you proceed to use them to sign up for the Amex Card.
There are so many credit cards out there, but these are what I think are best. I personally have all of these credit cards above and wanted to write about them since most Canadians are not aware these great card are out there.
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