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Tag: rewards programs

  • BMO replaces Air Miles with new Blue Rewards program – MoneySense

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    Air Miles program members can continue to use their collector cards, and their miles will automatically convert to “Blue Points” at an equivalent value upon this summer’s launch, with no action required. BMO Air Miles credit and debit card holders can also continue using their cards uninterrupted and will receive more program details in the coming months.

    BMO revamps Blue Rewards with simpler, personalized perks

    The bank said Blue Rewards will feature a simplified booking experience for flights, hotels, and car rentals powered by Expedia Group. It will also build on recent changes, including the ability to earn points on grocery and food deliveries when in-store receipts are scanned using the Blue Rewards app, as well as bonus points at most grocery retailers and wholesale clubs across Canada.

    “Blue Rewards completely reimagines the loyalty experience with the client at the centre,” said Mathew Mehrotra, group head of Canadian personal and business banking at BMO, in a news release. “With a digitally enabled platform, we’re making one of Canada’s most celebrated loyalty programs even better by delivering simpler, flexible, more personalized rewards for collectors and helping them make real financial progress every day.”

    Featured travel credit cards

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    Scotiabank Gold American Express Card

    Earn up to 6 Scene+ points per $1 spent and save on foreign transaction fees.

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    Interest Rates:
    20.99% purchase, 22.99% cash advance, 22.99% balance transfer


    Welcome offer:
    $500 value



    Earn up to $1,050 in welcome offers, first year rewards and savings value, including no annual fee in your first year, and up to 50,000 bonus Scene+ points.

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    American Express Cobalt Card

    Earn up to 5 MR points per $1 spent and transfer them to partner loyalty programs.

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    Interest Rates:
    21.99% purchase, 21.99% cash advance, N/A balance transfer


    Welcome offer:
    $150 value



    Earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.

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    MBNA Rewards World Elite Mastercard

    Get 5 MBNA Rewards points per $1 across five categories, plus an annual bonus of 10% in points.

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    Interest Rates:
    21.99% purchase, 22.99% cash advance, 22.99% balance transfer


    Welcome offer:
    $200 value



    Earn 20,000 bonus points (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days.

    Shell leaves Air Miles for Scene+ loyalty program

    BMO acquired the Air Miles program in 2023 for US$160 million after its U.S. parent company LoyaltyOne Co. filed for bankruptcy. It is one of the oldest and largest loyalty programs in Canada, with around 10 million active users at the time of the acquisition. Collectors earn Air Miles through participating stores, services, and payment cards, which can be redeemed for “aspirational rewards” like merchandise, travel, events, and attractions.

    Meanwhile, Shell Canada announced Monday its long-standing partnership with Air Miles is set to conclude, as the fuel company is instead joining up with the Scene+ loyalty program. Scene+ has more than 15 million members and is owned by Scotiabank, Empire Co. Ltd., and Cineplex Inc.

    By bringing Shell on board, members will be able to earn points when they visit one of the fuel company’s 1,400 gas station and convenience store locations across Canada. The new offering is set to roll out in Alberta on March 3 and expand across Canada on May 26. That partnership will also see Scotiabank and Tangerine clients with eligible payment cards save at participating Shell locations. Shell customers can continue to earn and redeem Air Miles through March 2 in Alberta and May 25 in the rest of Canada. 

    “We listened to our members when they told us they wanted a fuel loyalty partner,” said Tracey Pearce, president of Scene+. “As a leader in the fuel industry, Shell is an ideal partner for our ecosystem.”

    Blue Rewards adds new partners, keeps 400+ brands

    Air Miles had lost a string of other big retailers in Canada during the years leading up to its sale to BMO.

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    BMO said Blue Rewards collectors will continue to earn points at more than 400 brands. It said new Blue Rewards program partners include Porter Airlines and Accor Group hotel brands such as Fairmont Hotels and Resorts. Other new partners include Instacart and MTY Group restaurants, such as Thai Express, Baton Rouge, Pizza Delight, Allo Mon Coco, Sushi Shop, Mr. Sub, Manchu Wok, Mucho Burrito, and Jugo Juice.

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  • Air Transat plans new loyalty program with Desjardins and Visa – MoneySense

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    Questions about the program’s focus

    Barry Choi, who runs the Money We Have personal finance and travel website, said it is not yet clear whether the new loyalty program will be similar to Air Canada’s Aeroplan program, or closer to the previously existing BonBon program that was less consumer-facing and more focused on travel agents. 

    “I think if they go to the consumer-facing route, that’s where things can really start to get interesting,” he said in an interview. “Because I would compare it to other airlines, when you think about WestJet, Porter, and Air Canada, they all have their own credit cards already, where consumers can earn points on everyday purchases, which then can be redeemed for flights, hotels, and car rentals.”  

    Featured travel credit cards

    featured

    Scotiabank Gold American Express Card

    Earn up to 6 Scene+ points per $1 spent and save on foreign transaction fees.

    GO TO SITE


    Interest Rates:
    20.99% purchase, 22.99% cash advance, 22.99% balance transfer


    Welcome offer:
    $500 value



    Earn up to $1,050 in welcome offers, first year rewards and savings value, including no annual fee in your first year, and up to 50,000 bonus Scene+ points.

    featured

    American Express Cobalt Card

    Earn up to 5 MR points per $1 spent and transfer them to partner loyalty programs.

    GO TO SITE


    Interest Rates:
    21.99% purchase, 21.99% cash advance, N/A balance transfer


    Welcome offer:
    $150 value



    Earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.

    featured

    MBNA Rewards World Elite Mastercard

    Get 5 MBNA Rewards points per $1 across five categories, plus an annual bonus of 10% in points.

    GO TO SITE


    Interest Rates:
    21.99% purchase, 22.99% cash advance, 22.99% balance transfer


    Welcome offer:
    $200 value



    Earn 20,000 bonus points (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days.

    Choi said that having a loyalty program generally “makes sense”  and can help the company make use of consumer data. “It’s kind of funny; you’d think that they would have something like this already. Every single brand I know has a loyalty program for this reason, yet they seem to be behind,” Choi said. 

    Consumers can expect more details in coming months

    The program is a fundamental pillar of Transat’s business strategy, said Xavier Szwengler, the vice-president for marketing and distribution at Transat, in a news release on Monday. “It allows us to strengthen ties with our customers while accelerating sustainable value creation for Transat and its investors.”

    More details on the program will be released in the coming months, he said.

    Dan Iwachiw, vice-president and head of product at Visa Canada, said that the organization will introduce a “suite of cards designed to bring more travel opportunities, meaningful rewards, and exceptional payment experiences to Canadians.”

    Air Transat reported its first full-year profit since 2018 in December. For its full fiscal year, Transat earned $241.9 million, thanks to a stellar third quarter, compared with a $114-million loss in fiscal 2024. 

    Air Transat flies mainly to destinations in Mexico, the Caribbean and Europe, and only two destinations in the U.S. As demand for flights to Florida, Las Vegas, and other stateside spots has plummeted, the airline sought out destinations farther afield. 

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    About The Canadian Press


    About The Canadian Press

    The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

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  • PC Financial World Elite Mastercard review – MoneySense

    PC Financial World Elite Mastercard review – MoneySense

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    PC Financial World Elite Mastercard

    VISIT PCFINANCIAL.COM FOR MORE DETAILS

    VISIT PCFINANCIAL.COM FOR MORE DETAILS

    Card details

    Interest rates 21.99% on purchases, 22.97% on cash advances (21.97% for residents of Quebec), 22.97% on balance transfers
    Income required Personal income of $80,000 or household income of $150,000
    Credit score 560 or higher
    Point value 10 PC points = $0.01 at Loblaws grocery network and Shoppers Drug Mart.

    Benefits of the PC Financial World Elite Mastercard

    Earn more PC Optimum points than with a basic membership

    All PC Optimum members earn points on select purchases. And those points can be redeemed for groceries, drugstore items, home essentials, clothing and gas. But with the PC FInancial World Elite Mastercard, you’ll rack points up much faster: You get 30 points per $1 spent at affiliated Loblaw banner grocery stores. Plus, you earn 45 points per $1 at Shoppers Drug Mart and 30 points per litre at Esso and Mobil stations. Beyond that, it’s 10 points per $1 spent on everything else.

    Comes with good insurance benefits

    The PC Financial World Elite Mastercard is a unicorn in the credit card world. Although it has no annual fee, cardholders get the added benefit of insurance coverage. As part of the package, you’ll get car rental collision/loss damage waiver insurance and up to $1 million in travel emergency medical insurance (for up to 10 days from departure). Those are two valuable features that could save serious coin on your next trip if you’re involved in an accident. It’s hard to find a $0 annual fee credit card with these kinds of extras.

    How to earn PC Optimum points

    Earning is easy: simply charge purchases to your PC Financial World Elite Mastercard. You’ll earn the most when you shop at PC-affiliated stores, and fuel up with its gas station partners.

    With the PC Financial World Elite Mastercard, you’ll earn 30 Points per $1 spent at affiliated Loblaw banner grocery stores (such as Loblaws, Fortinos, No Frills and Real Canadian Superstore), making this one of the best no-fee credit cards. The earn rate is a whopping 45 points per $1 spent at Shoppers Drug Mart (as well as Pharmaprix in Quebec) and at least 30 points per litre of gasoline or diesel fuel purchased at Esso and select Mobil stations in Canada. You’ll get 10 points per $1 spent on everything else.

    How to redeem PC Optimum points

    One of the best features of PC Optimum is that redemption is a cinch. As soon as you accumulate 10,000 PC Optimum points, you can redeem them for $10 worth of free groceries or merchandise at any participating stores; or you can save them for fatter savings down the line. Points are calculated based on the purchase price of eligible products, less any applicable discounts and taxes shown on the receipt.

    You can redeem PC Optimum points at about 2,500 participating retail locations, including: 

    • grocery stores such as Loblaws, Fortinos, No Frills and Real Canadian Superstore
    • retail stores such as Zehrs and Joe Fresh
    • drugstores such as Shoppers Drug Mart and Pharmaprix

    Just tell the cashier that you would like to “spend” your points when you scan your PC Optimum card at the checkout counter. Or you can redeem points off your bill while shopping online at the Beauty Boutique, Joe Fresh and PC Express websites. 

    You can see the list of participating retailers here. While the PC Optimum rewards program is very flexible, there are a few limitations you should be aware of. PC Optimum points cannot be earned or redeemed for certain items, including tobacco, alcohol and gift cards. 

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    Lisa Jackson

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  • These credit cards can help you save big on travel to Orlando – MoneySense

    These credit cards can help you save big on travel to Orlando – MoneySense

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    How to use credit cards to save on your stay

    With the right loyalty points, you can stay in Orlando for free (resort and parking charges still apply). I always look at Marriott properties first, since I have a Marriott Bonvoy American Express Card. The card has an annual fee of $120, but it gives me an annual free night’s stay at Marriott properties, worth up to 35,000 Marriott Bonvoy points. (One Marriott Bonvoy point is worth $0.0117 on average when redeemed hotel stays.) Additionally, I can transfer any of my American Express MR Points, which I collect with the American Express Cobalt Card, to Marriott Bonvoy at a 1:1 ratio. This ability to transfer makes it incredibly easy to earn and redeem Marriott Bonvoy points.

    featured

    Marriott Bonvoy American Express

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    Annual fee: $120

    Welcome offer: earn 50,000 Marriott Bonvoy points

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    Card details

    Interest rates 21.99% on purchases, 21.99% on cash advances
    Income required None specified
    Credit score 725 or higher
    Point value 1 Marriott Bonvoy point = $0.0117 on average when redeemed for eligible flights or hotel stays..

    One of my favourite places to stay in Orlando is the Walt Disney World Swan Reserve. It’s part of the Disney Swan and Dolphin complex, so regardless of which property you stay at (the Dolphin Resort, Swan Resort or Swan Reserve), you get access to all the amenities, including multiple pools, kids’ activities, swan paddle boats and more. Best of all, these hotels are considered on-site Disney properties, so you get early access to all the Disney World Parks. That extra half-hour to an hour makes a considerable difference since you get to beat the crowds.

    Admittedly, the Dolphin, Swan and Reserve hotels are some of the more expensive Marriott properties, but I’ve also stayed at Residence Inn and Courtyard hotels (both part of the Marriott family) for as little as 15,000 Marriott Bonvoy points per night. As a bonus, when you book five consecutive nights at the same hotel using Marriott Bonvoy points, you get one night free. 

    Besides Marriott Bonvoy, I’ve also used HotelSavers via Aeroplan. With HotelSavers, you save up to 30% in points on bookings with select partner hotels. Plus, Aeroplan credit card holders get their fourth night free when booking three nights on points. 

    More ways to save in Orlando

    If you can subsidize your flights and hotels with points, theme park tickets will be your biggest expense. Fortunately, there are occasional deals. 

    Universal Orlando Resort has an offers page that lists all the current promotions. For example, at the time of writing, you can get two days free when you purchase a ticket valid for two parks over three days. Alternatively, you can save 20% on four-night stays at a Universal Orlando Hotel. The hotel offer can be lucrative, as Premier Universal Hotels give your entire party a free Universal Express Unlimited pass, allowing you to skip the regular lines at some of the most popular attractions. The passes are worth as much as USD$124.99 per person, per day. You also get early access to the parks.

    Disney World has similar offers throughout the year for both park tickets and accommodations. It also typically has Canadian-exclusive deals about once or twice a year, and these can be a great way to save.

    For non-theme-park savings, check out the offers page on Visit Orlando. Here you’ll find discounts on dining, shopping, attractions and accommodations.

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    Barry Choi

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  • Air Miles expands offerings, including ways to earn and redeem – MoneySense

    Air Miles expands offerings, including ways to earn and redeem – MoneySense

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    As you might recall, BMO Financial Group bought Air Miles in March 2023, after the program’s owner, Loyalty Ventures Inc., filed for bankruptcy. At that time, BMO said the acquisition “would be a made-in-Canada opportunity to enable a reinvigoration for one of Canada’s largest loyalty programs.” 

    Air Miles collectors, that day has come. Let’s look at how the program has changed.

    What’s new about Air Miles?

    In addition to its emphasis on moments (collecting them, winning them, getting to them faster), the new Air Miles brand platform reflects several program enhancements rolled out since April:

    More ways to earn

    Collectors can take advantage of two ways to rack up more Miles: 

    • Air Miles Receipts, introduced in 2023, gives members Miles for buying certain products and scanning the receipts with the Air Miles app within 14 days. Air Miles Receipts initially included grocery stores. It recently expanded to liquor stores, and more categories are coming in September.
    • Card-linked offers give collectors bonus Miles at partner retailers. To access offers, link a Canadian-issued Mastercard to your Air Miles Account. (BMO Air Miles Mastercards are automatically linked.) Two recent examples: 250 bonus Miles for spending $500 at LG Electronics, and 125 bonus Miles for spending $300 at Porter Airlines. 

    More ways to redeem 

    Collectors can redeem Air Miles for eVouchers at several more well-known retailers, including Amazon, Sporting Life, TJX brands (Winners, HomeSense, Marshalls) and more. Redeeming 95 Cash Miles gets you $10 in value (the same as before the relaunch). 

    Gas discounts at Shell 

    If you have a BMO Air Miles–linked credit card or debit card, you’ll save $0.07 per litre on Shell V-Power premium fuel and $0.02 per litre on other Shell fuel—a nice perk given the high cost of gas.

    Other credit card benefits

    BMO Air Miles credit cardholders can now earn double the Miles on purchases at wholesale clubs and liquor retailers in Canada, the same boosted earn rate they get at eligible grocery stores.

    Conversions between Cash Miles and Dream Miles 

    Air Miles requires cardholders to allocate their reward Miles into two buckets: Cash Miles (redeemable for retailer eVouchers and in-store discounts) and Dream Miles (redeemable for merchandise and travel rewards). The ratio is up to you, but you couldn’t convert one to the other—until now. Onyx and Gold collectors (the upper two of Air Miles’ three tiers) now have more flexibility: Onyx collectors get unlimited transfers, and Gold collectors can transfer up to 1,000 Miles each year. (Sorry, Blue collectors, no transfers for you.)

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    Jaclyn Law

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  • 5 credit card habits that earn points faster – MoneySense

    5 credit card habits that earn points faster – MoneySense

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    1. Unlock the earning potential of your everyday spending

    Everyone has expenses. The trick is to figure out how to earn rewards on the purchases you’re already making. Your best bet is to pick a card that offers boosted earn rates in the categories you spend the most in. For many Canadians, the top spending categories are groceries and gas, so paying with a card like the National Bank World Elite Mastercard can reap a lot of points.

    Let’s say your family spends around $1,000 per month on groceries and about $250 on gas. If you paid for these purchases with the National Bank World Elite Mastercard, you could earn up to 5,500 points per month—that’s 66,000 points per year just in those two categories. With 66,000 points, you could redeem for tech merchandise (like a smartwatch or tablet) or pay down your National Bank of Canada mortgage, for example.

    Here’s how it works: The amount of points earned on grocery and restaurant purchases depends on the total gross monthly amount charged to the credit card account, regardless of the purchase category. You will earn five points for every dollar in eligible grocery and restaurant purchases until a total of $2,500 in gross monthly purchases is charged to the account. After that, you’ll earn two points per dollar in eligible grocery and restaurant purchases. (The total gross monthly amount is calculated based on your monthly billing period.)

    Apply for the National Bank World Elite Mastercard between May 13 and August 15, 2024, and you could earn up to 40,000 bonus rewards points in the first year. Minimum purchase and insurance product required. See applicable terms and conditions.

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    National Bank World Elite Mastercard

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    • Annual fee: $150
    • Interest rates: 20.99% on purchases, 22.49% balance transfers and cash advances
    • Earn rate: Up to 5 points per $1 on grocery and restaurant purchases; 2 points per $1 on gas, EV charges, recurring bill payments and travel booked through À La Carte Rewards; and 1 point per $1 on all other purchases.
    • Welcome offer: In the first year, you can earn up to 40,000 rewards points. Must apply by August 15, 2024. Minimum purchase and insurance product required. Learn more about applicable terms and conditions.
    • Annual income requirement: Personal income of $80,000 or household income of $150,000

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    2. Make the most of your optional spending

    There’s more to bills than groceries and gas, of course, so choose a card that rewards more of your other purchases. When you use your National Bank World Elite Mastercard to pay your restaurant bill, you could earn up to five points per dollar. Plus, with a base rate of one point per dollar spent on your card in other categories, your rewards will rack up quickly.

    3. Subscribe to rewards points

    If you’re like most Canadians, you’ve got a bunch of bills that show up each and every month, including services like your phone plan and subscriptions to streaming services. Get something back for your monthly bills by setting up automatic payments with your National Bank World Elite Mastercard. You’ll get two points per dollar for recurring payments, and you’ll never have to worry about missing a payment.

    4. Get the family involved

    When you add a cardholder to your account, all their rewards points add up along with yours in the same account, so you reach your rewards goals faster. This can be a terrific option for spouses, for example. Each person will have their own card with their own PIN, but all transactions are charged to the same account. With the National Bank World Elite Mastercard, the annual fee for each additional card is only $50 per year. 

    5. Earn more on travel

    Using a credit card is a convenient and secure way to pay for travel—and it can also let you earn rewards points. With the National Bank World Elite Mastercard, you’ll get two points per dollar spent on any travel you book through the À la carte Travel portal. Plus, every year you’ll get a travel credit of up to $150 to reimburse eligible expenses charged to your card, including flight upgrades, seat selection, airport parking, extra checked bags and access to airport lounges. And, with the included travel insurance on this card, you’ll be all set for your next journey. (Insurance coverage is limited to specific amounts. Please read the full insurance details.)

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    Keph Senett

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  • How to use your credit card responsibly – MoneySense

    How to use your credit card responsibly – MoneySense

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    What is a credit score?

    A credit score is a three-digit number, usually between 300 and 900, that banks and other lenders use to determine how likely you are to pay back your loans. The higher the number, the more credit-worthy you are to the banks.

    Your score is based on information in your Canadian credit history, such as whether you pay for your phone bill and utilities on time and in full each month. The problem is, for newcomers and others without a Canadian credit history, lenders don’t have any information. This makes it hard for people to get credit.

    Your first credit card in Canada

    If you’re young, or a newcomer, or you haven’t used credit in Canada before, you’ll need to start simply. Credit cards themselves are forms of credit, so the first step is to get an entry-level credit card and prove your credit-worthiness by paying your bills on time. Then you can work your way up.

    Entry-level credit cards usually have fewer perks than more premium cards, but they also typically have lower income requirements and a lower annual fee—in some cases, $0.

    National Bank’s mycredit Mastercard is a great example. There’s no annual minimum income requirement to apply for this card and no annual fee, making it very accessible. And, while the mycredit Mastercard doesn’t come with a full suite of included benefits, it does allow you to earn 1% cash back on recurring bill payments and restaurant spends, and 0.5% back on everything else.

    If you want more features and rewards, National Bank’s Platinum Mastercard is a good option that also has no minimum income requirement. National Bank’s World Elite Mastercard has an annual fee of $150 and comes with more perks—including an annual travel expense refund up to $150.

    4 tips for credit card use

    You already know you should use your credit card responsibly, but what, exactly, does that mean?

    • Stick to your budget
      Most entry-level credit cards come with modest credit limits. Still, it’s important you don’t spend more than you can pay off, no matter your limit. This is sometimes tricky for new credit cardholders, but budgeting is an essential part of your financial health.
    • Pay your card balance in full
      Best practice is to pay off your credit card, in full and on time, every month. Interest rates on credit cards are very high, so debt can balloon quickly if you carry a balance. Stick to your budget and don’t overspend.
    • Pay the minimum amount
      If, for any reason, you can’t pay a bill in full, make sure you pay at least the minimum amount, which appears on your bill. Credit card companies report your payment history to the credit bureaus, and even one missed payment will lower your score. You can avoid that by making the minimum payment (or more) by the due date.
    • Pay your bill on time
      Timeliness is as important as making minimum payments. It shows the credit bureaus that you can meet your financial obligations. If you need help remembering your due date, consider setting up an automatic payment through your online banking. 

    When it comes to credit cards, you should work towards paying in full, on time, every month. Every payment helps you build your credit score buy showing you are responsible with credit, and over time, you can become eligible for upgraded financial products, with more features and perks.

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    Keph Senett

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  • A credit card that deserves to be your everyday card – MoneySense

    A credit card that deserves to be your everyday card – MoneySense

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    This hard-working credit card offers generous earn rates of up to five points per dollar spent on restaurants and groceries, which is a significant spending category for most Canadians. The amount of points earned on these purchases depends on the total gross monthly amount charged to the credit card, regardless of the purchase category. You will earn five points for every dollar in eligible grocery and restaurant purchases until a total of $2,500 in gross monthly purchases is charged to the account. After that, you will earn two points per dollar in eligible grocery and restaurant purchases. (The total gross monthly amount is calculated based on your monthly billing period.)

    Another big expense—gas or EV charging—earns two points per dollar spent, as do recurring bill payments, along with any travel booked through National Bank’s À la carte Travel service. All other purchases earn a base rate of one point per dollar, so nothing goes unrewarded.

    Apply for the National Bank World Elite Mastercard between May 13 and August 15, 2024, and you could earn up to 40,000 bonus rewards points in the first year. Minimum purchase and insurance product required. Learn more about applicable terms and conditions.

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    National Bank World Elite Mastercard

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    • Annual fee: $150
    • Interest rates: 20.99% on purchases, 22.49% balance transfers and cash advances
    • Earn rate: Up to 5 points per $1 on grocery and restaurant purchases; 2 points per $1 on gas, EV charges, recurring bill payments and travel booked through À La Carte Rewards; and 1 point per $1 on all other purchases.
    • Welcome offer: In the first year, you can earn up to 40,000 rewards points. Must apply by August 15, 2024. Minimum purchase and insurance product required. Learn more about applicable terms and conditions.
    • Annual income requirement: Personal income of $80,000 or household income of $150,000

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    Redeeming your rewards points

    Redemptions with the National Bank World Elite Mastercard are easy. You can use your points to shop for whichever rewards best suit you. Visit the online boutique and choose from merchandise, gift cards or travel, or invest your points in your National Bank of Canada TFSA and/or RRSP. You can also apply points to your credit card balance or National Bank of Canada mortgage. It’s quick, easy and all in one place.

    When it comes to perks, the National Bank World Elite Mastercard has the bases covered. Travellers will love the included travel and car rental insurance, and unlimited access to the National Bank Lounge at Montréal-Trudeau Airport for international flights. Plus, there’s an annual travel credit of up to $150 that you can apply to eligible expenses including seat selection, seat upgrades, airport parking, extra checked bags and airport lounge access.

    Other benefits include mobile device insurance and extended manufacturer’s warranty, so you’ll be covered for longer on virtually anything you buy with the card. (See all terms and conditions.)

    The right credit card offers convenience, security and benefits you can use. Consider the National Bank World Elite Mastercard as your everyday card.

    This article is sponsored.

    This is a paid post that is informative but also may feature a client’s product or service. These posts are written, edited and produced by MoneySense with assigned freelancers and approved by the client.

    More about credit cards:

    ® Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank.
    ® National Bank and À la carte rewards are registered trademarks of National Bank of Canada. 

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    Keph Senett

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  • How to become a contractor: The real costs – MoneySense

    How to become a contractor: The real costs – MoneySense

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    What do I need to know about managing my finances as a contractor?

    No matter what type of construction business you launch or buy, it’s important to have a bookkeeping system in place—between material expenses, insurance fees, client payments and more, you’ll have a lot of money going in and out each month. You’ll need a separate bank account and line of credit for your business, and it’s smart to have a credit card that’s solely for professional use.

    Pro tip: Choose a credit card for contractors

    Scotiabank has a small-business credit card that’s great for contractors: the Scotia® Home Hardware PRO Visa† Business Card, which can be used wherever Visa is accepted. Its variable interest rate is tied to Scotiabank’s prime rate, and credit limits of up to $500,000 are available (a limit high enough for larger, or multiple, renovations). The card’s interest rate and credit limit depend on whether the account is secured or unsecured, subject to approval and the security provided. The Scotiabank Prime Rate is the prime lending rate published from time to time by The Bank of Nova Scotia. (See the current Scotiabank Prime Rate.) The card has no annual fee, and it has an interest-free grace period of 21 days on new purchases.

    And then there are the rewards. You’ll earn one Scene+TM point for every dollar spent on eligible business purchases made at Home Hardware, which has more than 1,000 locations across Canada, or online at homehardware.ca.

    For every 10,000 Scene+ points you collect, you can redeem $100 at Home Hardware. If you’re regularly buying construction and renovation materials, you can accumulate points quickly—and get a lot of free stuff. Points can be redeemed for groceries, travel, gift cards and more. Plus, as your contractor business grows, you can add supplementary credit cards at no cost. These are great perks for entrepreneurs who want to minimize spending while getting their home renovation business off the ground.

    The business credit card also includes insurance protection on most newly purchased items charged to the account. Most newly purchased items are covered for 90 days by Purchase Security, and these items may be eligible for replacement, repair or reimbursement if they are stolen, damaged or destroyed by fire.

    Cardholders also have access to optional business loan protection insurance, Scotia Business Loan Protect, which can help cover business loan payments, or provide a lump sum of money, if you or another eligible key person can’t work for health reasons or passes away. Scotia Business Loan Protect is underwritten by The Canada Life Assurance Company (1-800-387-2671, www.canadalife.com) under a group policy issued to the Bank of Nova Scotia. All coverage is subject to the terms and conditions outlined in the Certificate of Insurance, which you will receive upon enrollment.

    You can apply for the Scotia® Home Hardware PRO Visa† Business Card online. Plus, until May 31, 2024, you can earn up to 15,000 bonus Scene+ points in your first year (that’s worth up to $150 in points value) by making at least $1,500 in eligible purchases at participating Home Hardware, Home Building Centre, Home Hardware Building Centre, Home Furniture locations in Canada and online at homehardware.ca in the first three months after opening your account. Cardholders also have access to online tools and services designed just for business owners. See Scotiabank’s website for full card details.

    Building a successful career as a home renovation contractor

    If you have the skills and motivation needed to become a contractor in Canada, you have the potential to build a lasting, rewarding career in home improvement. Over time, you might find that the Scotia® Home Hardware PRO Visa† Business Card is just as important to your contractor business as any other tool in your belt. After all, every dollar matters to your small business—so make them count.

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    Erin Pepler

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  • Why you won’t get Air Miles at Metro anymore – MoneySense

    Why you won’t get Air Miles at Metro anymore – MoneySense

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    In the mid-2000s, Air Miles devalued its points, making it harder for customers to reach their rewards goals. Then, in 2016, the company announced it would add an expiration date to Miles. Though the decision was reversed after an outcry, the move damaged customer relations. Next, the company split Air Miles into Cash Miles (for in-store redemption and e-vouchers) and Dream Miles (for merchandise, travel, events and attractions), further confusing collectors. 

    By 2022, some of Air Miles’ biggest draws had left the program, including Staples, Rexall, the LCBO, Lowe’s and others. Metro stores are the latest mega-partners to sever ties with Air Miles. 

    Earning rewards for groceries

    All of this might be bad news for Air Miles, but consumers can still find ways to earn rewards on their grocery shopping bills. 

    One way is to join the loyalty programs of your grocery chain. Like Metro with its new Moi Rewards program, Loblaws stores give out PC Optimum points, Save-on-Foods and others use More Rewards, and Thrifty Foods uses Scene+ points. 

    Unfortunately, Moi Rewards alone won’t get you the value you’re used to with Air Miles. If it takes 500 Moi Rewards points to redeem for $4, the value per point is $0.008. How does that stack up against Air Miles? While the value of an Air Mile will fluctuate depending on what you redeem it for, the average value is $0.121. Luckily, you can use a different strategy to make your food shopping pay dividends.

    The best grocery credit cards in Canada

    You can earn rewards on your groceries by purchasing them with a rewards credit card. For example, you could use a PC Mastercard to pay for food at Metro, and you’d still earn PC Optimum points—not as many as you’d get shopping at Loblaw banner stores, but you’d still get the base rate. Many other rewards cards are good for groceries, too. The best one for you will depend on where you shop and your shopping habits. 

    Here’s a quick look at some of our top picks.


    What’s replacing Air Miles at Metro?

    So, Air Miles is out and Moi Rewards is in. While it’s true that the advertised Moi Rewards earn rate is underwhelming, the details of the program remain to be seen. In the meantime, Metro shoppers can get their rewards by using a solid rewards credit card at the till.

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    Keph Senett

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  • Simplii and Diljit Dosanjh team up on eve of Dil-Luminati tour – MoneySense

    Simplii and Diljit Dosanjh team up on eve of Dil-Luminati tour – MoneySense

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    Fresh off an appearance at Coachella, the Diljit Dosanjh Canada tour starts in Vancouver on April 27, 2024 at BC Place—a night that’s expected to be the largest Punjabi show ever produced outside of India. The singer will also be the first ever Punjabi artist to perform at the venue. 

    With 8.5 million monthly listeners on Spotify alone, and 24 million followers across all his social media platforms, Simplii felt Dosanjh would be the perfect candidate to be its first-ever brand ambassador.  

    “We both share the same passion for inspiring and supporting new Canadians and helping people live life to the fullest,” said Kam Dhadwar, managing director at CIBC Capital Markets, in a statement. “Nearly a third of Canadian newcomers originate from India and with Diljit’s help, we hope to help them see themselves in the Simplii brand.”

    What the Simplii Dosanjh partnership means for Simplii clients

    As of yet, this partnership doesn’t seem to offer any special perks for Simplii Financial customers looking to grab tickets to the Dosanjh show in Vancouver. “At the moment, our partnership includes social content, ads, contesting, and advice for our clients,” Dhadwar says in his statement, “but we’ll share more on how the partnership evolves over time.” 

    What to know about Simplii and its entertainment perks

    Simplii Financial is one of Canada’s biggest alt-banks, with over 2 million Canadian account holders. It operates as an online-only institution, although clients can go to ATMs at any CIBC location, thanks to an ongoing partnership. Pitching itself as a bank for newcomer Canadians and international students, Simplii allows account enrollment from over 90 countries, same-day no-transfer-fee transactions to more than 130 countries, and foreign currency savings accounts, including for Indian rupees. It also offers high-interest savings accounts, chequing accounts and other products.

    While Simplii is a fairly no-frills banking option, its Simplii Cash Back Visa Card offers a decent 4% reward rate for select restaurants, bars, and coffee shops, although it has an annual cap of $5,000. It also grants 1.5% back on $15,000 worth of eligible gas and pre-authorized payments, and a no-cap, 0.5% back on everything else. This might not do much for a Dosanjh fan looking for exclusive access before the show, but it could help concertgoers save a bit of money on their big night out. MoneySense lists it as one of the best credit cards for newcomers to Canada.

    Are entertainment rewards worth it?

    Plenty of credit cards and financial institutions and banks in Canada offer entertainment rewards. These range from early access to select shows to cash back rewards on ticket purchases, flights, or other entertainment options like restaurants and bars. For someone spending as much as $2,361 on front-row tickets at Dosanjh’s Vancouver show, according to Ticketmaster, entertainment rewards can go a long way. But not all cards are created equal. 

    The Simplii Cash Back Visa Card doesn’t offer entertainment rewards for show tickets, although Simplii’s cardholder agreement says it may give special offers from time to time. These could, presumably, include access to tickets to special events. For example, RBC helped Avion Rewards members snag tickets for Taylor Swift’s Eras Tour.

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    Brennan Doherty

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  • The best RBC credit cards in Canada for 2024 – MoneySense

    The best RBC credit cards in Canada for 2024 – MoneySense

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    Why trust us

    MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

    The best RBC credit cards in Canada by category

    By Sandra MacGregor on February 1, 2024
    Estimated reading time: 7 minutes

    Royal Bank of Canada offers an array of credit cards catering to various preferences and spending habits. Whether you prioritize travel rewards with Avion points, seek the flexibility of cash back, or prefer unique benefits like WestJet dollars, RBC has a card for you. With credit cards spanning the Visa and Mastercard networks, cardholders can tailor their shopping experience to suit their preferences. Let’s explore the standout features of the best RBC credit cards in Canada.

    Best credit card by category Why we love it
    Best RBC travel credit card
    RBC Avion Visa Infinite
    Annual fee: $120    		 At least 1 Avion point per $1 spent on all your purchases, and good redemption flexibility
    Best RBC airline travel credit card
    WestJet RBC World Elite Mastercard
    Annual fee: $119    		 1.5% earn rate paired with an annual round-trip companion voucher on WestJet
    Best RBC no-fee travel rewards credit card
    RBC ION Visa
    Annual fee: $0    		 1.5 Avion points per $1 spent across six spending categories, including streaming, subscriptions and digital gaming
    Best RBC cash back credit card
    RBC Cash Back Preferred World Elite Mastercard
    Annual fee: $99    		 1.5% cash back on your first $25,000 in purchases annually
    Best RBC no-fee cash back credit card
    RBC Cash Back Mastercard
    Annual fee: $99    		 Up to 2% cash back on groceries and up to 1% on all other purchases, with no annual fee
    Best RBC low-interest credit card
    RBC Visa Classic Low Rate Option
    Annual fee: $20    		 12.99% interest rate on both purchases and cash advances

    Best RBC travel credit card

    At a glance: The RBC Avion Visa Infinite is a premium travel credit card that has a flexible rewards program and exclusive benefits. Cardholders earn 1 Avion point per $1 spent, and a boosted 1.25 points on eligible travel expenses (like flights, cruises and car rentals).

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    RBC Avion Visa Infinite

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    • Annual fee: $120
    • Earn rate: 1.25 Avion points per $1 spent on travel (including flights, hotels, taxis and public transit) and 1 point per $1 on all other purchases.
    • Welcome bonus: You can earn 35,000 Welcome Points on approval and 20,000 bonus points when you spend $5,000 in your first 6 months*. Apply by April 30, 2024. Apply online and get a response in as little as 60 seconds.
    • Annual income requirement: Personal income of $60,000 or household income of $100,000

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    Pros

    • RBC Avion points can be worth as much as $0.023 each when redeemed for travel, which is a high value among travel rewards cards.
    • Avion has a lot of travel redemption flexibility. You can redeem your points for travel using RBC’s Air Travel Redemption chart, transfer points to select airlines (including WestJet), and redeem for travel purchases through RBC. 
    • There are no blackout periods or seat restrictions, even during periods of high demand. 
    • Exclusive access to concert tickets, including Taylor Swift. 
    • Impressive travel insurance coverage, including trip cancellation and interruption and emergency medical. It even features mobile device insurance of up to $1,500.

    Cons

    • You’ll pay a foreign transaction fee of 2.5% on all purchases not in Canadian dollars. 
    • The highest earn rate is 1.25%, which is not very high for a premium card; other premium cards feature significantly higher earn rates.
    • The personal annual income requirement of $60,000 (or household income of $100,000) may be too high for some applicants.

    Best RBC airline travel credit card

    At a glance: With perks like a yearly round-trip companion voucher, free checked bags and Boingo Wi-Fi access, the WestJet RBC World Elite Mastercard makes an attractive travel buddy. In fact, it’s the best credit card in Canada for frequent WestJet flyers—full stop. Cardholders earn 2% back in WestJet dollars on purchases of WestJet flights and vacation packages and get 1.5% back on all other spending. One WestJet dollar has a value of one Canadian dollar.

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    WestJet RBC World Elite Mastercard

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    • Annual fee: $119
    • Earn rate: 2% back in WestJet dollars on WestJet flights and vacations packages and 1.5% back on all other purchases
    • Welcome offer: You can earn up to 600 WestJet dollars with the WestJet RBC World Elite Mastercard. Plus a Round-Trip Companion Voucher Every Year.
    • Annual income requirements: Personal income of $80,000 or household income of $150,000

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    Pros

    • Travel perks include complimentary first checked bags for the primary cardholder and up to eight companions.
    • Get an annual round-trip companion voucher for any WestJet destination, starting at $119 (plus taxes, fees and other charges) or opt to exchange it for four lounge vouchers.
    • Extensive travel insurance, including emergency medical, trip interruption and flight delay coverage. 
    • Cardholders can save up to $0.03 on fuel at Petro-Canada and can also earn Rexall’s Be Well points.
    • The card grants access to over 1 million Boingo Wi-Fi hotspots worldwide.

    Cons

    • WestJet dollars can’t be used to pay for taxes and fees.
    • Unlike with Aeroplan, for example, rewards are not flexible as they can only be used for WestJet flights and WestJet vacations. 
    • A minimum personal income of $80,000 (or $150,000 household income) is required to apply.

    Best RBC no-fee travel rewards credit card

    At a glance: The RBC ION Visa is a no-annual-fee rewards credit card that gives you 1.5 Avion points per $1 spent on groceries, rides, gas (and EV charging), streaming, subscriptions and digital gaming. Get 1 point per $1 spent on all other purchases.

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    RBC ION Visa

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    • Annual fee: $0
    • Earn rate: 1.5 Avion points per $1 spent on groceries, rideshares, daily transit, gas, EV charging, streaming, digital gaming and subscriptions; and 1 point per $1 on all other purchases
    • Welcome bonus: You can earn 3,500 Avion points upon approval
    • Annual income requirement: None

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    Pros 

    • Some redemption flexibility. You can redeem your points for travel, statement credits, merchandise, gift cards and more. 
    • Enjoy fuel savings at Petro-Canada, a three-month free DashPass subscription, and Be Well points with purchases at Rexall pharmacies.
    • Good for gamers: The RBC ION Visa is one of the only cards in Canada that lets you earn rewards on gaming subscriptions, digital downloads and in-game purchases.
    • The card features purchase security and extended warranty insurance.

    Cons

    • The RBC Avion rewards program includes three different membership tiers: Avion Select, Avion Premium and Avion Elite. The RBC ION Visa is part of the Avion Premium tier, meaning you can’t redeem your points through RBC’s Air Travel Redemption Schedule—which offers the highest value for your points. That feature is part of Avion Elite, which requires having an RBC Avion card. 
    • The card has limited insurance coverage.

    Best RBC cash back credit card

    At a glance: With the RBC Cash Back Preferred World Elite Mastercard, you’ll earn cash back on all your purchases. You’ll get 1.5% on the first $25,000 charged to the card annually and 1% thereafter. Enjoy additional benefits like instant fuel savings at Petro-Canada, Be Well points at Rexall and $0 delivery fees for 12 months from DoorDash.

    RBC Cash Back Preferred World Elite Mastercard

    Visit rbc.com for more details

    • Annual fee: $99
    • Earn rate: 1.5% back on all your purchases
    • Welcome bonus: You can earn unlimited cash back, no limit to what you can get back
    • Annual income requirement: Personal income of $80,000 or household income of $150,000

    Visit rbc.com for more details

    Pros

    • The annual fee of $99 is lower than many other premium cards.
    • If you link your RBC card to your Petro-Points account, you’ll save $0.03 cents per litre on gas at Petro-Canada and also get a 20% bonus of Petro-Points.
    • You can earn 50 points per $1 spent at Rexall when you link your RBC card and your Rexall Be Well card.
    • Card comes with a 12-month free DashPass subscription.

    Cons

    • Weak insurance offering compared to other premium cards. It only includes rental theft and car damage, purchase protection and extended warranty.
    • The boosted rate of 1.5% is capped at your first $25,000 spent annually.

    Best RBC no-fee cash back credit card

    At a glance: Like some of the best cash back credit cards in Canada, the RBC Cash Back Mastercard offers cash back with no annual fee. Earn up to 2% on groceries and up to 1% on all other purchases. Benefit from instant fuel savings at Petro-Canada, enhanced Be Well points at Rexall and $0 delivery fees for three months from DoorDash.

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    RBC Cash Back Mastercard

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    • Annual fee: $0
    • Earn rate: 2% cash back on groceries and 1% back on all other purchases
    • Welcome bonus: You can
    • Annual income requirement: None

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    Pros 

    • The card comes with purchase security and extended warranty protection.
    • Save $0.03 per litre on fuel at participating Petro-Canada stations and earn 20% more Petro-Points.
    • Get 50 Be Well points per $1 spent at Rexall.
    • Enjoy a complimentary DashPass subscription for the first three months.

    Cons

    • The unusual rewards structure requires cardholders to read the fine print carefully to understand the spending limits at which their rewards will increase or decrease. You’ll get 2% cash back on groceries for the first $6,000 spent, which then drops to 1% per additional dollar spent in the category. For all other purchases, you’ll get 0.5% cash back on the first $6,000 spent—and 1% thereafter. 
    • Very limited insurance offering, with only purchase security and extended warranty.

    Best RBC low-interest credit card

    At a glance: For individuals trying to tackle credit card debt, the RBC Visa Classic Low Rate Option is a valuable card. It offers a consistent 12.99% interest rate for purchases and cash advances—that can’t be said of all low-interest credit cards in Canada. While it may lack extensive perks, it does provide advantages like discounts at Petro-Canada and complimentary delivery services through DoorDash.

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    RBC Visa Classic Low Rate Option

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    • Annual fee: $20
    • Welcome offer: None
    • Annual income requirement: None

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    Pros 

    • With its affordable $20 annual fee and no minimum income requirement, this card is within reach for the majority of Canadians.
    • Additional cards are available at no cost.
    • Enjoy RBC Offers, which gives cardholders access to deals and savings.
    • Earn more Petro-Points and get a discount on fuel at Petro-Canada.
    • The card comes with a three-month complimentary subscription to DashPass.

    Cons

    • This card doesn’t come with any travel insurance.
    • While the low interest rate is a boon to those with credit card debt, it doesn’t feature a balance transfer promotion, so you can’t move debt from a higher-interest card.

    More of Canada’s best credit cards:

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    Sandra MacGregor

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  • Money tips from Jordan Heath-Rawlings: “Make sure you can afford a sudden expense” – MoneySense

    Money tips from Jordan Heath-Rawlings: “Make sure you can afford a sudden expense” – MoneySense

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    Jordan Heath-Rawlings shares your frustration. In November 2023, he launched In This Economy?!, a podcast that helps Canadians tackle financial challenges. Described as “Your guide to understanding an unpredictable economy,” the show explores topics such as inflation, employment, debt, home ownership and repaying CERB.

    Heath-Rawlings, who lives in Toronto, is a long-time Canadian journalist—he was a newspaper reporter, a founding editor of Sportsnet, and director of special projects at Rogers Media, among other roles. In 2018, he started Frequency Podcast Network, along with Canada’s first daily news podcast, The Big Story, which he still hosts (he also oversees 30-plus other shows). Below, Heath-Rawlings shares what he thinks about credit, debt, real estate and more—plus why he’s now a “huge points guy.”

    Check out In This Economy?!, available on these podcast players. New episodes are released on Thursdays.

    Who are your finance heroes?

    So, In This Economy?! is designed to come from a curious person, not someone who has studied the financial industry extensively and has formed opinions about it. I don’t really have a finance hero. Except, I’ll say this: My career as a sports journalist, including a lot of time writing about fantasy sports and gambling, has made me keenly aware of the concept of the “mass market miss”—a player or investment that doesn’t seem to match stereotypical norms, so it’s overlooked compared to others, creating easy value for those willing to value results over aesthetics. So, can I say, like, baseball writer Bill James or baseball executive Billy Beane?

    How do you like to spend your free time?

    I’m a homebody for the most part, so hanging around the house, watching sports, being with family. My partner is a travel junkie, though, so we try to find the time—and money—to take a few trips a year.

    If money were no object, what would you be doing right now?

    Golfing—somewhere warm. With my wife and daughter on the beach waiting for me to meet them afterwards. We’ll be doing this in a few weeks from now, and I’m already dreaming about it.

    What was your first memory about money?

    My first money memory—besides making like 25 cents per row weeding the garden for my grandfather—is my parents wisely not spending $200 to buy me Air Jordans that I would have wrecked in two weeks anyway. I grew up in the burgeoning sneaker era, when they were just becoming big-time status symbols, and I wanted what the cool kids had.

    What’s the first thing you remember buying with your own money?

    Oh, baseball cards. It is absolutely 100% baseball cards. And I still have them in a box in our basement. Sadly, I came of age during the absolute peak popularity for kids collecting cards, so they aren’t worth anything, save for the memories. But in 1988, I—and every other kid I knew—would have told you they’d have made me rich by now.

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    MoneySense Editors

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