The Five Credit Cards You Have to Have in Canada
There are some amazing credit card offers out there, namely for their sign-up bonus. Every Canadian should have these cards in their wallet (or least somewhere in the house).
Credit Cards
Great deal! Scotiabank AMEX Gold $200 Credit – First Year Free
The Scotiabank American Express Gold first year free offer is back! You'll get 20,000 points after spending $750 in three months, which can be converted directly into $200 worth of cash.
AMEX Canada Introduces “Check Spending Power” Feature
American Express in Canada now allows you to check whether a charge will be approved or declined!
Amazing Deal! US Merrill Lynch Card, $1000 Sign-Up Bonus
Merrill Lynch, Bank of America’s wealth management division, is currently offering their fee-free Visa Signature with a 50,000 sign-up bonus after spending $3000 in three months [this is not a referral link]. This is the first time I’ve heard of this credit card being publicly accessible. Their points system is redeemable on any flight, at the rate of 25,000 points for $500. Strangely, the redemption must be on a round-trip flight departing from the United States (boo!). Further, you can only redeem your points at the above rate if your operating carrier is American, Delta, United, or British Airways; any other airline requires a 30,000 point redemption for the same value. Finally, if you spend $50,000 in a year, you’ll receive a $200 travel credit or a Delta Skyclub membership (I think you can guess which has more value).
Best Sign-Up Bonuses in Canada
If you got all three cards (very easy to do), you’ll 140,000 points fee $399 in fees, which is enough to go almost anywhere in the world in Business, or enough for two round-trips to Europe in Economy (with points remaining).
Does AMEX (Canada) use Equifax now?
Since forever and ever (well, my recent memory, which is admittedly short), American Express Canada has always pulled Transunion when making a credit decision. This kind of sucked, because most other valuable Canadian creditors also pull Transunion, and this made the case of having excessive credit checks all too common.
