Credit card rewards in Canada

[MrsPB]

We use a credit card for as much as possible and pay off the balance each month.
I have two no fee cards:
1) PC World Elite
2) RBC cashback card

I don't used the RBC one any more, it's just my backup card.
I love the PC one as I get extra points in store (we spend around $200/month at superstore) and total spend per month is around $1500-$2000 on the card.
I've recently moved a bunch of bills on to there also.

I'm wondering if a different card would be better based on my spending rate per month but I'm not interested in travel rewards as we barely travel.
I'm being lazy and asking here if anyone knows the best deals out there right now as things may have changed in the past couple of years!

[Kaspian]

I do the majority of my groceries at Food Basics or Giant Tiger, so the PC card wouldn't help me much.

I use the cashback MBNA Mastercard for all my cc purposes--2% on all groceries/gasoline, 1% on anything else, and 2-5% using their online e-Mall (which I'm not convinced works all the time.)  A few times a year they direct deposit $50 for my card use.  They normally have introductory cashback rates (for the first 6 months) which might be worth investigating.  Anyway, never had a hassle with the card or their services.

[MrsPB]

Just found this article
http://www.moneysense.ca/spend/credit-cards/canadas-best-credit-cards-of-2015/

[swick]

I would say if you are doing ANY spending across the border or in US funds to get the Chase Marriot card. It is one of only two cards in Canada that doesn't charge you foreign transaction fees (usually around3%) there is a 120 annual fee but you get a certificate for a free stay each year that is worth at least that.  Last time I checked they were offering 40,000 points, a free night and waiving the first year fee. The real savings though is the foreign transaction fees. The other card is the Amazon.ca visa, no annual fees for that one.

[johnny847]

I would say if you are doing ANY spending across the border or in US funds to get the Chase Marriot card. It is one of only two cards in Canada that doesn't charge you foreign transaction fees (usually around3%) there is a 120 annual fee but you get a certificate for a free stay each year that is worth at least that.  Last time I checked they were offering 40,000 points, a free night and waiving the first year fee. The real savings though is the foreign transaction fees. The other card is the Amazon.ca visa, no annual fees for that one.

Wow I knew that credit card rewards in other countries are generally not as good as in the US, but there's only 2 cc's in Canada that don't charge a forex fee?? Damn...

[swick]

I would say if you are doing ANY spending across the border or in US funds to get the Chase Marriot card. It is one of only two cards in Canada that doesn't charge you foreign transaction fees (usually around3%) there is a 120 annual fee but you get a certificate for a free stay each year that is worth at least that.  Last time I checked they were offering 40,000 points, a free night and waiving the first year fee. The real savings though is the foreign transaction fees. The other card is the Amazon.ca visa, no annual fees for that one.

Wow I knew that credit card rewards in other countries are generally not as good as in the US, but there's only 2 cc's in Canada that don't charge a forex fee?? Damn...

Yeah, our awards are shitty, same card in the US gives you 80,000 points. It's usually about 1/2 but the real killer in the Foreign transaction fees, that most people don't realize they are paying because it is not broken down per transaction and really only mentioned in the fine print. The two cards that don't have the fees are pretty new, within the last year or two. It was just something we all paid and never thought about, so many people don't know there is an option. We're pretty backward compared to the US for CC options, but hey, we have chip technology!

[nobodyspecial]

The PC world elite also gives you 7c/litre points on gas at RCSS (at least in BC)

[backyardfeast]

Is anyone using the new Costco capital one card?  We haven't bothered with reward cards thus far, but this looked like one that might be worth getting. 

K, I'll stop being lazy and go research it a little too. :)

[backyardfeast]

Ok, that didn't take long...the Costco card wouldn't be particularly worth it for us.  3% cash back on restaurants MIGHT equal about $6/mo; if we bought ALL our gas at Costco (which wouldn't be convenient), we'd earn $4/mo, and then it's .5% on other purchases up to $3000, then 1% after that.  Unfortunately, I'm anticipating our total monthly spending will be about $3000/mo, so that's not helpful!

I mean, I GUESS earning an extra $6-10/mo is nothing to sneeze at over the year, but it seems unlikely we'd get $100.  In fact, I'm remembering that the last time the folks at the til looked at our account, they told us that we would earn our membership cost back.  I GUESS that's something to consider?

Off to look at the moneysense list...

[K-Dogg]

I just got the new Tangerine cash back credit card. It's 2% cash back in two categories of your choice and 1% on everything else. First three months the 2% is doubled to 4%. And... If you get the cash back deposited into your Tangerine savings account instead of going back onto your card, they give you another 2% category. There's like 8-10 to choose from.  It's no fee as well.

[ptgearguy]

I use the MBNA smart cash for 2% gas and grocery (it has a 5% introductory for 6 months) as well as the tangerine. My Tangerine has categories home improvement, recurrent bills and restaurants for 2%. They basically cover all my spending. I am also picking up the AMEX cash back free card that gives 1.25 for everything. This card also has a 5% introductory for gas and grocery. The AMEX card will be used for extra things like paying for car insurance etc. 

[okits]

I would say if you are doing ANY spending across the border or in US funds to get the Chase Marriot card. It is one of only two cards in Canada that doesn't charge you foreign transaction fees (usually around3%) there is a 120 annual fee but you get a certificate for a free stay each year that is worth at least that.  Last time I checked they were offering 40,000 points, a free night and waiving the first year fee. The real savings though is the foreign transaction fees. The other card is the Amazon.ca visa, no annual fees for that one.

Wow I knew that credit card rewards in other countries are generally not as good as in the US, but there's only 2 cc's in Canada that don't charge a forex fee?? Damn...

Yeah, CC incentives here are not anywhere near as enticing as in the U.S.  You all would laugh at the Scotiabank Scene credit card offer I just got. Sign up and get four free movies (regular movies, not 3D or any sort of enhanced experience).  That's up to a $52 value, wow.  /s

I just got the new Tangerine cash back credit card. It's 2% cash back in two categories of your choice and 1% on everything else. First three months the 2% is doubled to 4%. And... If you get the cash back deposited into your Tangerine savings account instead of going back onto your card, they give you another 2% category. There's like 8-10 to choose from.  It's no fee as well.

This sounds half decent!  I have been on the CIBC Dividend Visa for more than a decade. Basic card has no annual fee, 0.5% cash back on the first $6000, 1% back on everything after that, 2% on groceries.  They have a jacked-up version that has an annual fee but I have avoided it due to enduring optimism that my spending will shrink (or isn't certainly high enough to make it worthwhile).

[MrsPB]

The PC world elite also gives you 7c/litre points on gas at RCSS (at least in BC)

I didn't know that, it doesn't mention it on the PC website? We have an RCSS gas station here but it's not on any of my normal routes, it's about 20km away. That's a good deal though! I'll check it out if I'm passing one


Edited for major error!! For some reason I thought ( for no reason other than purely lacking attention to your acronym) it was 7c/l at Canadian Tire! Duh. We do have many RCSS gas stations here, but I've not noticed that deal, I will look though. I also like the gas coupons you get in store every few months. There have been times I've gotten over 20c a litre off with combining coupons, not including the extra points I get from the PC points program by using my credit card to pay.

[MrsPB]

Ok, that didn't take long...the Costco card wouldn't be particularly worth it for us.  3% cash back on restaurants MIGHT equal about $6/mo; if we bought ALL our gas at Costco (which wouldn't be convenient), we'd earn $4/mo, and then it's .5% on other purchases up to $3000, then 1% after that.  Unfortunately, I'm anticipating our total monthly spending will be about $3000/mo, so that's not helpful!

I mean, I GUESS earning an extra $6-10/mo is nothing to sneeze at over the year, but it seems unlikely we'd get $100.  In fact, I'm remembering that the last time the folks at the til looked at our account, they told us that we would earn our membership cost back.  I GUESS that's something to consider?

Off to look at the moneysense list...

I just looked at this one too as we spend around $400 a month at Costco just on groceries plus some big stuff like tires from time to time. You don't get more than 1% at Costco it seems, which seems weird! We rarely eat out so this card would be way less in rewards than I currently get from PC.

[MrsPB]

Thanks for the replies, definitely some cards here I hadn't heard of that I can look in to. Right now the PCWE card send the best for us based on our spending. The Rogers card may be an option too swing as my cellphone provider is Rogers but I'm more limited on how I spend my points there, as with PC I can buy anything in the store and I think you can use points to buy gift cards too but not 100% sure

[okits]

Just found this article
http://www.moneysense.ca/spend/credit-cards/canadas-best-credit-cards-of-2015/

Thanks for the link and for starting this thread, MrsPB and thanks to everyone who commented. The Moneysense article confirms that I haven't been missing much, all these years, sticking to my CIBC card.  That said, we are going to apply for the PC World Elite card.  More and more, our big weekly grocery shop is happening at Loblaws, and we spend a fair bit at Shoppers Drug Mart (maximizing their points program and shopping the sales, the pricing is pretty good.) We don't eat at restaurants much, anymore; a few years back the Tangerine card would have been terrific for us!

[snowball]

Thanks for the link and for starting this thread, MrsPB and thanks to everyone who commented. The Moneysense article confirms that I haven't been missing much, all these years, sticking to my CIBC card.  That said, we are going to apply for the PC World Elite card.  More and more, our big weekly grocery shop is happening at Loblaws, and we spend a fair bit at Shoppers Drug Mart (maximizing their points program and shopping the sales, the pricing is pretty good.) We don't eat at restaurants much, anymore; a few years back the Tangerine card would have been terrific for us!

If you're getting that one, apply through the RateSupermarket site and you can get $50 in bonus PC points.  https://www.ratesupermarket.ca/deals/pc_financial

[daverobev]

You need to check out a spend-reward calculator for Canada.

The MBNA flat 2% card is good if you spend in a lot of categories.

The PCF one you have is flat awesome as it's free and 3%. In Ontario at least, no, you don't get that 7c/l at Loblaw gas stations, just the regular 3% as PC Points. Yes you can buy gift cards with the points or with the card. However, there are usually better deals if you can wait for them (eg, we regularly buy Canadian Tire gift cards with a 10% discount, you just need to watch the flyers for Rexall or Sobeys or...)

If you shop places that take Amex, the Scotia Gold Amex is awesome (though it's travel). Otherwise, the Momentum Infinite VISA is good (4% cash back at gas/groceries, etc).

In terms of forex, Chase Amazon, Chase Marriott, and Rogers are the only 0% ones. Tangerine is only 1%, though - most of the others are 2.5%.

The Tangerine card is great, if you mostly shop in 2-3 different merchant codes (again, buying gift cards means you save).

The MBNA SmartCash is a bad fit because it is bonus only to the first $400 a month, and even the 1% is capped. I used to have one; it's ok but for a family, no.

I had the Marriott card but unless you WILL stay at a Marriott the Amazon one is better (2% on Amazon.ca!)

[MrsPB]

You need to check out a spend-reward calculator for Canada.

The MBNA flat 2% card is good if you spend in a lot of categories.

The PCF one you have is flat awesome as it's free and 3%. In Ontario at least, no, you don't get that 7c/l at Loblaw gas stations, just the regular 3% as PC Points. Yes you can buy gift cards with the points or with the card. However, there are usually better deals if you can wait for them (eg, we regularly buy Canadian Tire gift cards with a 10% discount, you just need to watch the flyers for Rexall or Sobeys or...)

If you shop places that take Amex, the Scotia Gold Amex is awesome (though it's travel). Otherwise, the Momentum Infinite VISA is good (4% cash back at gas/groceries, etc).

In terms of forex, Chase Amazon, Chase Marriott, and Rogers are the only 0% ones. Tangerine is only 1%, though - most of the others are 2.5%.

The Tangerine card is great, if you mostly shop in 2-3 different merchant codes (again, buying gift cards means you save).

The MBNA SmartCash is a bad fit because it is bonus only to the first $400 a month, and even the 1% is capped. I used to have one; it's ok but for a family, no.

I had the Marriott card but unless you WILL stay at a Marriott the Amazon one is better (2% on Amazon.ca!)

Awesome info!! Thanks!!!

[okits]

Thanks for the link and for starting this thread, MrsPB and thanks to everyone who commented. The Moneysense article confirms that I haven't been missing much, all these years, sticking to my CIBC card.  That said, we are going to apply for the PC World Elite card.  More and more, our big weekly grocery shop is happening at Loblaws, and we spend a fair bit at Shoppers Drug Mart (maximizing their points program and shopping the sales, the pricing is pretty good.) We don't eat at restaurants much, anymore; a few years back the Tangerine card would have been terrific for us!

If you're getting that one, apply through the RateSupermarket site and you can get $50 in bonus PC points.  https://www.ratesupermarket.ca/deals/pc_financial

Well this thread just keeps giving and giving!  Thanks, snowball!  (And while I poked fun at the $50-in-free-movies sign up incentive on a different card, I realize that's indicative of our market's retail card offerings and am still glad to get $50 in groceries.)

[rocketpj]

I just got the new Tangerine cash back credit card. It's 2% cash back in two categories of your choice and 1% on everything else. First three months the 2% is doubled to 4%. And... If you get the cash back deposited into your Tangerine savings account instead of going back onto your card, they give you another 2% category. There's like 8-10 to choose from.  It's no fee as well.

I just got the same one.  Groceries, gas and recurring utility bills all go on it and get the 2% kick into an account there.  No extra spending on anything, just a nice little kickback into my account (in our case it goes into the 'saving for a trip to see family in Europe' account).

[snowball]

If you're getting that one, apply through the RateSupermarket site and you can get $50 in bonus PC points.  https://www.ratesupermarket.ca/deals/pc_financial

Well this thread just keeps giving and giving!  Thanks, snowball!  (And while I poked fun at the $50-in-free-movies sign up incentive on a different card, I realize that's indicative of our market's retail card offerings and am still glad to get $50 in groceries.)

Hah, well, $50 in movies wouldn't tempt me much, but groceries, now...:)

The best Cdn site for credit card application bonuses is, I think, GreatCanadianRebates, but they don't have PC cards for some reason, at least not right now.  They do have a $25 bonus for getting the Tangerine card, for anyone who is thinking of getting that;  I really like that card.

[MrsPB]

I really don't know much about Tangerine in general but I'm going to take a look for sure

[MrsPB]

I used to spend a lot more at Superstore/Shoppers so it was a great deal with the WE card getting 3% cashback on in store purchases plus the bonus points but now I spend way less (mainly shop at Costco) so maybe a Tangerine card with 2% on more of my spending categories is better. I'll need to have a look at my category spending breakdown. We don't eat out a lot but for sure groceries and gas, plus recurring bills would be the majority of the balance.

[Cannot Wait!]

I have the Scotiabank Visa cards.  When I signed up through an "advisor"  they waived the fee for the first year.

[snowball]

I used to spend a lot more at Superstore/Shoppers so it was a great deal with the WE card getting 3% cashback on in store purchases plus the bonus points but now I spend way less (mainly shop at Costco) so maybe a Tangerine card with 2% on more of my spending categories is better. I'll need to have a look at my category spending breakdown. We don't eat out a lot but for sure groceries and gas, plus recurring bills would be the majority of the balance.

I just have both!  Though I can understand not wanting to juggle too many cards.

That Scotia Momentum card is nice too, and you can get first year fee waived + a cash or gift card application bonus if you apply either through GreatCanadianRebates or Amazon.ca.  Then call and cancel it before you're charged an annual fee.  I've had it a couple of times, but don't currently.  (Note that it applies your cash rebate only once a year, in Nov, regardless of when you applied, so if you're planning to cancel it before first year is up, no point in continuing to use it after Nov.)

[MrsPB]

I used to spend a lot more at Superstore/Shoppers so it was a great deal with the WE card getting 3% cashback on in store purchases plus the bonus points but now I spend way less (mainly shop at Costco) so maybe a Tangerine card with 2% on more of my spending categories is better. I'll need to have a look at my category spending breakdown. We don't eat out a lot but for sure groceries and gas, plus recurring bills would be the majority of the balance.

I just have both!  Though I can understand not wanting to juggle too many cards.

That Scotia Momentum card is nice too, and you can get first year fee waived + a cash or gift card application bonus if you apply either through GreatCanadianRebates or Amazon.ca.  Then call and cancel it before you're charged an annual fee.  I've had it a couple of times, but don't currently.  (Note that it applies your cash rebate only once a year, in Nov, regardless of when you applied, so if you're planning to cancel it before first year is up, no point in continuing to use it after Nov.)

Ooh this one looks good but it's not really great for me to sign up now if the payout is Nov. I'm going to add up my purchases though, even with the fee, it might be better than a no fee card. So somewhere like Costco would be considered grocery, I assume? Including diapers, formula and some non grocery, we probably spend around $600/mth there and once a year something big like tires.

I'm comparing the Tangerine card to the Scotia one (with and without annual fee which would be $130 as I'd get a second card for DH). Either way, both are better than PC since our grocery shopping changed, and I can still get in store PC points through the PCplus program.

[MrsPB]

I used to spend a lot more at Superstore/Shoppers so it was a great deal with the WE card getting 3% cashback on in store purchases plus the bonus points but now I spend way less (mainly shop at Costco) so maybe a Tangerine card with 2% on more of my spending categories is better. I'll need to have a look at my category spending breakdown. We don't eat out a lot but for sure groceries and gas, plus recurring bills would be the majority of the balance.

I just have both!  Though I can understand not wanting to juggle too many cards.

That Scotia Momentum card is nice too, and you can get first year fee waived + a cash or gift card application bonus if you apply either through GreatCanadianRebates or Amazon.ca.  Then call and cancel it before you're charged an annual fee.  I've had it a couple of times, but don't currently.  (Note that it applies your cash rebate only once a year, in Nov, regardless of when you applied, so if you're planning to cancel it before first year is up, no point in continuing to use it after Nov.)

Ooh this one looks good but it's not really great for me to sign up now if the payout is Nov. I'm going to add up my purchases though, even with the fee, it might be better than a no fee card. So somewhere like Costco would be considered grocery, I assume? Including diapers, formula and some non grocery, we probably spend around $600/mth there and once a year something big like tires.

I'm comparing the Tangerine card to the Scotia one (with and without annual fee which would be $130 as I'd get a second card for DH). Either way, both are better than PC since our grocery shopping changed, and I can still get in store PC points through the PCplus program.

doh! Just remembered Costco only takes MasterCard not Visa.... Hmmm reevaluating again...

[MrsPB]

http://www.rewardscardscanada.com/how-costco-throws-a-wrench-in-your-rewards/

Link in here to a rewards calculator comparison tool. The Costco thing is a PITA.

[MrsPB]

I use the MBNA smart cash for 2% gas and grocery (it has a 5% introductory for 6 months) as well as the tangerine. My Tangerine has categories home improvement, recurrent bills and restaurants for 2%. They basically cover all my spending. I am also picking up the AMEX cash back free card that gives 1.25 for everything. This card also has a 5% introductory for gas and grocery. The AMEX card will be used for extra things like paying for car insurance etc.

Now that I'm getting my head around all the options, this seems like a great plan based on our spending habits. I'm looking at the MBNA cards...do you happen to know if they consider costco to be 'grocery' with the smart cash card?

Edited to add: looks like no one considers costco to be 'grocery' so the most you can get on a no fee card for costco purchases is 1%. There is an MBNA fee card that gives you 2% on everything including Costco but I'm looking for no fee cards.
 After a morning of deliberating and researching, I am going to keep my PC world elite for superstore, shoppers and Esso ( one right by my home) as I get 3% on all those purchases (3c per litre at Esso so about 3%, I still have to look into the RCSS deal too and see if it's here in NS), and then get the Tangerine card and choose two other categories for my 2% (4% bonus rate for first 3 months), likely 'recurring bills' and 'home improvement'. Costco would fall under the 1% for all other purchases on either card and I still get the 2% back via the Costco Exec Membership which covers my annual membership fee so it's worth paying for the upgraded membership like I already do.

This has been an interesting exercise and I've learned a lot since I last reviewed cards a couple of years ago!

[daverobev]

I use the MBNA smart cash for 2% gas and grocery (it has a 5% introductory for 6 months) as well as the tangerine. My Tangerine has categories home improvement, recurrent bills and restaurants for 2%. They basically cover all my spending. I am also picking up the AMEX cash back free card that gives 1.25 for everything. This card also has a 5% introductory for gas and grocery. The AMEX card will be used for extra things like paying for car insurance etc.

Now that I'm getting my head around all the options, this seems like a great plan based on our spending habits. I'm looking at the MBNA cards...do you happen to know if they consider costco to be 'grocery' with the smart cash card?

Edited to add: looks like no one considers costco to be 'grocery' so the most you can get on a no fee card for costco purchases is 1%. There is an MBNA fee card that gives you 2% on everything including Costco but I'm looking for no fee cards.
 After a morning of deliberating and researching, I am going to keep my PC world elite for superstore, shoppers and Esso ( one right by my home) as I get 3% on all those purchases (3c per litre at Esso so about 3%, I still have to look into the RCSS deal too and see if it's here in NS), and then get the Tangerine card and choose two other categories for my 2% (4% bonus rate for first 3 months), likely 'recurring bills' and 'home improvement'. Costco would fall under the 1% for all other purchases on either card and I still get the 2% back via the Costco Exec Membership which covers my annual membership fee so it's worth paying for the upgraded membership like I already do.

This has been an interesting exercise and I've learned a lot since I last reviewed cards a couple of years ago!

The RWE or RTP (2% MBNA cards) are worth it if you spend enough that you make back the fee!

$10k of 2% rather than 1% makes it worth it.

[MrsPB]

I use the MBNA smart cash for 2% gas and grocery (it has a 5% introductory for 6 months) as well as the tangerine. My Tangerine has categories home improvement, recurrent bills and restaurants for 2%. They basically cover all my spending. I am also picking up the AMEX cash back free card that gives 1.25 for everything. This card also has a 5% introductory for gas and grocery. The AMEX card will be used for extra things like paying for car insurance etc.

Now that I'm getting my head around all the options, this seems like a great plan based on our spending habits. I'm looking at the MBNA cards...do you happen to know if they consider costco to be 'grocery' with the smart cash card?

Edited to add: looks like no one considers costco to be 'grocery' so the most you can get on a no fee card for costco purchases is 1%. There is an MBNA fee card that gives you 2% on everything including Costco but I'm looking for no fee cards.
 After a morning of deliberating and researching, I am going to keep my PC world elite for superstore, shoppers and Esso ( one right by my home) as I get 3% on all those purchases (3c per litre at Esso so about 3%, I still have to look into the RCSS deal too and see if it's here in NS), and then get the Tangerine card and choose two other categories for my 2% (4% bonus rate for first 3 months), likely 'recurring bills' and 'home improvement'. Costco would fall under the 1% for all other purchases on either card and I still get the 2% back via the Costco Exec Membership which covers my annual membership fee so it's worth paying for the upgraded membership like I already do.

This has been an interesting exercise and I've learned a lot since I last reviewed cards a couple of years ago!

The RWE or RTP (2% MBNA cards) are worth it if you spend enough that you make back the fee!

$10k of 2% rather than 1% makes it worth it.

I'll look at the numbers on this but I *estimate* I would get 2-3% on at least half of my monthly purchases (especially if I religiously stick to shoppers or SS for pharmacy, Homewares, gift cards, some grocery outside of Costco limitations, gas at Esso etc and get 3% on all those) with the two no fee cards I would have, and 1% on everything else. I'll have to calculate whether the rewards from that with a no fee card is better/worse than a 2% flat rate on all purchases on a card with a fee attached. I'd also want a card for my DH and some of them charge additional fees for secondary cards. I feel like I'm splitting hairs at this point but a good exercise to work through regardless!
Edited to add: if they come out similar after fees, then I might just go to the fee card and save the hassle of managing two cards.

[MrsPB]

Just saw that the MBNA World elite card requires a minimum household income of $120k....so I'm out on that one. I'm reviewing the other fee cards this afternoon.
On thing I like about the PC Card is that you can cash out your cash back anytime or save it up until year end or whatever time you like, so in the past, I've saved it for Christmas expenses including food, gifts etc. With the Tangerine card, although I might make a somewhat similar cash back amount over a set time period, the credit goes back to the card each month. Psychologically, I prefer being able to 'save up' my points for a time I know I'll need them, or an unexpected expense. Anyone with tangerine know if you can save up your cash back until a future date or can you only take it each month?
Just thought I'd point this out for anyone else doing the same deliberating as me.

[daverobev]

Just saw that the MBNA World elite card requires a minimum household income of $120k....so I'm out on that one. I'm reviewing the other fee cards this afternoon.
On thing I like about the PC Card is that you can cash out your cash back anytime or save it up until year end or whatever time you like, so in the past, I've saved it for Christmas expenses including food, gifts etc. With the Tangerine card, although I might make a somewhat similar cash back amount over a set time period, the credit goes back to the card each month. Psychologically, I prefer being able to 'save up' my points for a time I know I'll need them, or an unexpected expense. Anyone with tangerine know if you can save up your cash back until a future date or can you only take it each month?
Just thought I'd point this out for anyone else doing the same deliberating as me.

If you don't qualify for the RWE, they send you the RTP. It's functionally the same, just no concierge. It isn't listed/advertised anywhere. It's just the non-Elite version; normal MasterCard logo not the shiny silver one.

[snowball]

Just saw that the MBNA World elite card requires a minimum household income of $120k....so I'm out on that one. I'm reviewing the other fee cards this afternoon.
On thing I like about the PC Card is that you can cash out your cash back anytime or save it up until year end or whatever time you like, so in the past, I've saved it for Christmas expenses including food, gifts etc. With the Tangerine card, although I might make a somewhat similar cash back amount over a set time period, the credit goes back to the card each month. Psychologically, I prefer being able to 'save up' my points for a time I know I'll need them, or an unexpected expense. Anyone with tangerine know if you can save up your cash back until a future date or can you only take it each month?
Just thought I'd point this out for anyone else doing the same deliberating as me.

With Tangerine, you can set it to auto deposit your cash back in a Tangerine savings account every month (doing that also lets you have three reward categories instead of two).  You could just set up a Tangerine savings account specifically for this use and let the money pile up.  You can set up any number of Tangerine savings accounts attached to your login, and they're all free.  And you'd even earn a little bit of interest while the money sits there, and Tangerine has better interest rates than the big banks (not that that's saying much, but it's something).

BTW some credit cards' minimum income requirements are...less strict than presented.  Possibly depends on your credit score.  I've been approved for 70K-min-income cards while making $60something, so if you're close, I wouldn't let that stop you from applying.