PC optimum is lower than the scotibank card for you.
PC = 3% return in PC points
Scotia = 4% return cash
(When shopping in grocery stores)
Replying to this thread because it aligns more closely with my strategy the past few years -- go for cash value, instead of travel points, then look for travel discounts and pay cash if / when we want. (we don't travel a lot).
I have had the Scotia Bank card, with 4% groceries, and switched to an MBNA World Elite card with 2% back on everything, and recently picked up the PC groceries with 3% for Esso and Loblaws chains.
I found that paying and setting up the
Scotia Momentum card was a bit tough (had to go sign in person at the bank). They are not quite as easy on waiving late charges, and paying them from another bank took a couple of days longer to register than any of the others, so it tripped me up a couple of times. After a few years, only getting 1% back on the misc. spend was not enough, and the annual fee was too high for just a grocery card spend amount. Note that with Scotia, you get your credit close to the date that your new annual fee kicks in, so you are locked in to another year's fee if you stay to get the cash back. Not a great cycle for us.
The
2% cash back MBNA World Elite has been good, and the annual fee is not that high. 2% on EVERYTHING. It adds up as groceries / gas are not that large for my budget. They did recently raise the annual fee (waived first year) and reduce the % back, so I shopped for an alternative... then they gave me a $50 credit to stay. So I will keep it another year. MBNA also lets you get cashback as soon as you can claim $50, not just annually like Scotia.
The
PC Optimium card with 3% groceries back is terrific. I have an Esso with good fuel rates close to me so switched to there for added savings, and I have been shopping at Superstore, No Frills and Shoppers almost exclusively for a few years before getting it. The Shopper's points deals are the best, even without a PC credit card, if you only buy things that you know the best prices for. There is often $50 worth of milk, eggs, frozen pizza, crackers, tuna, etc. that I can pick up there, for net cheaper, about 15% net lower than the lowest sales price in my area. I only use this card for groceries and Esso.
I will miss getting my grocery cash back annually as one lump sum, but that's life. I use up my points as I go... and I still get the cash back in lumps from the MBNA card.
Another cash back card was the
AMEX business with a huge AMEX travel points bonus sign up offer. It was free for one year and the AMEX points converted to cash back exceptionally easily, I did not need to convert them to Aeroplan even though that was what they advertised it for. I think I received $350 and they give the cash back at full rate for any sort of travel (I had an AirBNB and a car ferry ride for part of it and that was valid). This one had to go when the annual fee came up as I found too many places that would not accept it and it had dimishing returns.
With this number of cards already, I passed on the
Triangle / Canadian Tire card for now. My 2% back trumps it, I think, and I should be spending less there anyway because it is full of all my hobbies and triggers for spending. I will keep my eye on it, when I give up the MBNA card, maybe this is the one to use.