Globe journalists answered your questions on travel cards, rewards points, and what’s next for the guide
. The guide compiled credit cards according to the value of the rewards they provide, and organized them in categories based on cash-back rewards, travel perks, and ease of balance transfer.Why did The Globe decide to put the guide together? How easy is it to find comparable information on available credit cards?One year ago, our personal finance editor noticed that no one in Canada was producing an unbiased, unsponsored guide to credit cards, so The Globe set out to create this resource.
If you frequently travel to the U.S. or make purchases there, U.S. dollar credit cards are also worth considering. For example, the CIBC U.S. Dollar Aventura Gold Visa Card has no currency conversion fees when paying in USD. Which points programs have the best value in points for day-to-day purchases? Any strategies for making the most of these programs? With grocery prices so high, I’ve been using Scene points to redeem at Safeway & Home Hardware and PC Optimum to redeem at No Frills.Your best earnings rates will often come from cards that are associated with the businesses you shop at. If Safeway, Home Hardware and No Frills are where you usually shop, you’re probably earning great rates already.
What I can say is that, at that spending level, you should be taking advantage of the higher points earning rates for cards with an annual fee. For example, you’d earn thousands more points with an Aeroplan Visa Infinite card than with some of the basic no-fee Aeroplan cards. The points earnings alone would offset your annual fee, not to mention some of the benefits you get with the fee cards .
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