Author Topic: Credit Card Advice (for Canadians)  (Read 2390 times)


  • Stubble
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  • Posts: 167
  • Location: Ontario, Canada
Credit Card Advice (for Canadians)
« on: August 01, 2013, 10:26:15 AM »
Well it finally happened. After a few years of having a TD Gold Visa credit card, TD is removing the collision insurance feature on their gold card as of September. For us this means we need to find a new alternative. We currently use the gold card for:

  • Auto Rental Collision/Loss Damage Insurance, to cover our collision for the car sharing service we use (sooo much cheaper than owning!). This saves us $6/month
  • not requiring us to take out the insanely expensive collision insurance option when we rent a car (for longer trips - this tends to cut the cost in half or about $20-$25/day rented.
  • Foreign currency transactions. There is no "fee" for foreign currency transactions (many charge 2.5% of the cost) and it converts the purchase from xxx dollars (or whatever currency) into CAD, whereas most card go from xxx dollars to USD then USD to CAD - resulting in a horrible currency exchange rate

The other nice part of this card is that it doesn't have an annual fee :) But alas, it seems we need to look for a new one.

Can anyone recommend a card that offers the auto insurance option and good foreign currency exchange? We would prefer without a fee, but even at normal fee costs, we would still be ahead. Cash back and other niceties are nice to haves, but not needed.


  • Magnum Stache
  • ******
  • Posts: 3962
  • Location: France
Re: Credit Card Advice (for Canadians)
« Reply #1 on: August 01, 2013, 12:59:29 PM »
You might need to get more than one, to tick all those boxes.

FX: Chase card. It's 0%, no fee, and you get $15 off an Amazon order too.

TD has this page, maybe another of their cards: would do?

It looks like the Capital One Aspire cards offer collision stuff, so maybe one of those?

I'm going to mention Great Canadian Rebates again - you can potentially get $100 cashback for applying via them for a new card. This is my refer-a-friend link - if you just want to go straight to the site just lop off the /Register... bit.

Good luck!


Wow, a phone plan for fifteen bucks!