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Canadian Rewards Credit Cards Comparison

Neat comparison table: http://www.rewardscanada.ca/cccompare.html

It doesn’t list all the rewards cards out there. We’re using a Credit Union Mastercard http://www.cuets.ca/products/index.html and it’s been really great. We charge all expenses imaginable to it, including business, even though it’s in my personal name. The annual fee is $24, you get travel cancellation insurance and you earn a point for every dollar you spend. The free card offers the same but you get 1 point for every 2 dollars. The points never expire.

I used to spend our Rewards Points on junk, but I should’ve been more patient: every 10,000 buys you $100 in travel money and it’s a MUCH better deal than any products they have in their catalog.

The year before we took a trip to Montreal for 3 days that was nearly free thanks to $350 of MasterCard travel rewards that paid for our hotel stay. This obviously offsets the $24 annual fee. This year we’ve again accumulated about $300 in travel money and since we’re planning a trip to the Caribbean later this year, we’ll see if we can use this free money to our advantage (to spend the travel rewards you have to book with their travel agent.) While they offer comparable rates and service, I’ll be comparing the cost to online booking sites. My favorite are TraveloCity.ca, LMDeals.com and Nolitours.com. Expedia.ca is also alright.