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Discussion Groups: Finances and Investing


Topic: Best Credit Card
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Rafter D

4/20/2011 12:58:17 PM
Member since:
Mar 2010
Total posts:126
Best Credit Card

I'm trying to find us a new credit card that will give us airmiles, we want our credit limit to be between $500 and $1000. We do not carry a balance and we have excellent credit. There are so many different cards out there it's crazy. We just want to accumulate airmiles quickly and have a low credit limit. Prefer mastercard but visa would be ok. What do you guys use and the pro's and con's.

Tagged as: credit,  card,  finance,  air miles,  
 
 
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Sargon

4/20/2011 1:09:31 PM
Member since:
Oct 2010
Total posts:359
Air miles

Are you looking for Air Miles, specifically, or just some sort of travel rewards card?  
 
 
For Air Miles proper, there's only BMO (Gold, Silver, Bronze var. or American Express )  
 
They vary on the annual fees and number of dollars needed per mile.

Rafter D

4/20/2011 1:21:59 PM
Member since:
Mar 2010
Total posts:126
...

Air Miles specific

Puffwad

4/20/2011 2:08:59 PM
Member since:
Dec 2007
Total posts:1265
Check this out

NA

4/20/2011 2:38:50 PM
Member since:
Apr 2013
Total posts:0
I have...

an american express airmiles. Really love it, I get lots of miles with it

BarneyRemple

4/20/2011 3:36:54 PM
Member since:
Mar 2011
Total posts:442
not

worth your time.The best airmile makers come with a yearly fee and if that's all the limit your going to use it won't be worth it.

One-percenter

4/20/2011 3:39:33 PM
Member since:
Aug 2010
Total posts:560
I use...

I have an AmEx Gold in my wallet, that racks up Aeroplan points, as my primary. The Visa is "just in case", but offers 1% cash back every Jan.  
 
Thinking about moving to CostCo's 2% cashback AmEx, as the points aren't really being used, and if you translate points to $, the prices are pretty ridiculous on the aeroplan site.  
 
In general, avoid as many fees as possible and get the lowest interest rate you can find if there is even a possibility you will carry a balance.

Beej226

4/20/2011 4:42:06 PM
Member since:
Feb 2006
Total posts:848
Agreed

  
*Mittens* said "an american express airmiles. Really love it, I get lots of miles with it "

Amex is the way to go. Wonderful people to deal with unlike the other top credit card companies and you get Air Miles as well. Highly recommend. The slight problem is that not everyone takes American Express but most do.

bigmoe

4/20/2011 4:42:31 PM
Member since:
Jul 2006
Total posts:1651
.

Avoid the "gold" cards. They may pay high dividends but they are offset by high fees. The only people who benefit with these are people,like business owners, who charge very high amounts. I use a CIBC Dividend card that pays back 1% annually. Take the credit and buy whatever you want.

Michelle Budiwski

4/20/2011 4:50:07 PM
Member since:
Apr 2009
Total posts:8115
Yep

  
BarneyRemple said "worth your time.The best airmile makers come with a yearly fee and if that's all the limit your going to use it won't be worth it. "

I agree.

Ma5

4/20/2011 4:50:48 PM
Member since:
Sep 2009
Total posts:512
airmiles mastercard

You can get an airmiles mastercard without paying the yearly fee but it does make your interest rate higher, but if you don't plan on carrying a balance then that won't matter!

krunch

4/20/2011 6:38:30 PM
Member since:
Dec 2005
Total posts:2243
.

  
Butterflymbca said "
  
BarneyRemple said "worth your time.The best airmile makers come with a yearly fee and if that's all the limit your going to use it won't be worth it. "

I agree. "

I disagree  
 
There are two BMO Air Miles cards. The gold one has an annual fee of $99 and receives 1 Air Mile for every $15 dollars spent and entitles you to a 25% discount on the actual Air Miles you SPEND when booking a flight, worldwide. Also, most "Gold" cards give you collision damage waiver coverage for car rentals.  
 
The second option is the plain BMO Air Miles MasterCard which collects 1 Air Mile for every $20 you spend and has NO annual fee. Since you said you do not carry a balance, interest rates are irrelevant.  
 
Walk into BMO and ask to speak to someone about getting one. They very well MIGHT try to sell you the Gold one, but in all honesty, I think the no annual fee option is best for you.  
 
"http://www.bmo.com"  
 
Click "Personal", "Credit Cards", then "Air Miles"  
 
(Tried to post direct link but doesn't work)  
 
I have the Gold one, and it's likley justified as we fly somewhere at least once every year so the flight discounts are great, and we pass virtually everything we can through our MasterCard just to collect the Air Miles. In January, we collected 230 Air Miles on the Gold MasterCard ALONE, not including using the actual points card itself at places like Safeway, etc.  
 
Krunch  
 
 
 
 
 
 
 
Edited by krunch, 2011-04-20 18:46:10

Cant wait for summer

4/20/2011 8:37:52 PM
Member since:
Nov 2009
Total posts:290
I have

a BMO Airmiles Mastercard, the one with No Annual Fee. (I figure they get you with interest anyway so I don't want to pay them anymore than I have to!)  
 
But let me tell you, the airmiles sure do add up quickly.  
 
I try to use my card for bigger expenses, such as car insurance, house insurance, etc.  
 
I also have an airmiles gold card

Michelle Budiwski

4/20/2011 8:46:01 PM
Member since:
Apr 2009
Total posts:8115
Limit

  
krunch said "
  
Butterflymbca said "
  
BarneyRemple said "worth your time.The best airmile makers come with a yearly fee and if that's all the limit your going to use it won't be worth it. "

I agree. "

I disagree  
 
There are two BMO Air Miles cards. The gold one has an annual fee of $99 and receives 1 Air Mile for every $15 dollars spent and entitles you to a 25% discount on the actual Air Miles you SPEND when booking a flight, worldwide. Also, most "Gold" cards give you collision damage waiver coverage for car rentals.  
 
The second option is the plain BMO Air Miles MasterCard which collects 1 Air Mile for every $20 you spend and has NO annual fee. Since you said you do not carry a balance, interest rates are irrelevant.  
 
Walk into BMO and ask to speak to someone about getting one. They very well MIGHT try to sell you the Gold one, but in all honesty, I think the no annual fee option is best for you.  
 
"http://www.bmo.com"  
 
Click "Personal", "Credit Cards", then "Air Miles"  
 
(Tried to post direct link but doesn't work)  
 
I have the Gold one, and it's likley justified as we fly somewhere at least once every year so the flight discounts are great, and we pass virtually everything we can through our MasterCard just to collect the Air Miles. In January, we collected 230 Air Miles on the Gold MasterCard ALONE, not including using the actual points card itself at places like Safeway, etc.  
 
Krunch  
 
 
 
 
 
 
 
Edited by krunch, 2011-04-20 18:46:10"

I doubt that you can get an airmiles collecting card with a limit of only $500 or $1000.

kjean

4/20/2011 11:15:39 PM
Member since:
Apr 2009
Total posts:18
BMO

offers the only options as far as credit cards go that give you airmiles specifically. Previous posts are correct with the gold or silver no annual rate cards. As far as limits go what ever you are approved for you can always call and ask them to reduce the limit just as you can ask for an increase (credit score dependant)  
 
Also I know for a fact if airmiles is what you are concerned about BMO also offers airmiles with their debit cards on a couple plans they have. You could check into setting up an account where you can collect airmiles every day by just using your debit card and avoid interest rates all together, even though you don't carry a balance.  
 
Good luck!

KIARK

4/20/2011 11:44:46 PM
Member since:
Dec 2009
Total posts:123
MADD bmo mastercard

I have the BMO mastercard as well and not only do I collect the airmiles with it, mine has the MADD logo on it and for every $1 spent they make a small donation. So its good all thw way around

Jaim

4/21/2011 8:47:21 AM
Member since:
Aug 2008
Total posts:723
I made the switch

to a BMO Mastercard with Airmiles and no addition fees and they really do add up quickly. I also pay the balance off every month though and often use it instead of a debit card to collect the miles, paying it off right away.  
 
I'm sure you can ask for a lower balance.

Ted

4/21/2011 12:15:36 PM
Member since:
Apr 2005
Total posts:198
Best credit card

I use BMO airmiles card. I pay all major purchases, i.e. car insurance. house insurance etc. then pay it off at the end of the month with no penalty. The miles add up quickly. If you shop at Safeway for groceries you can double did.


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