Life is simple, we make choices and don't look back~ (maybe..)

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Top Cash Back Credit Cards In Canada

If you have the discipline pay off your balance in full each month, using a credit card for your day-to-day spending can be a great way to earn rewards.  Collecting travel rewards isn’t a priority since we don’t travel much as a young family.  Instead, I like to use a top cash back credit card and get cold-hard cash back in my wallet every month to help supplement my everyday spending.

Cash back credit cards are increasing in popularity these days as Canadians become frustrated with the restrictions and declining value for travel rewards programs like Aeroplan and Air Miles.

Top Cash Back Credit Cards

I looked into the top cash back credit cards in Canada, including annual fee cards and no fee cards.  I calculated the cash back rewards based on spending $2,500 per month, which includes $650 on groceries and $150 on gas.

Related: How to boost your credit card rewards

Here are the top cash back credit cards:

Scotia Momentum Visa Infinite

  • 4% cash back on all eligible gas station and grocery store purchases
  • 2% cash back on recurring payments and drug store purchases
  • 1% cash back on all other eligible purchases.
  • $99 annual fee
  • 1.99% introductory interest rate on cash advances and balance transfers for the first six months.
  • Dedicated Visa Infinite website to help you easily track your cash back rewards.
  • Purchase protection and extended warranty

With the Scotia Momentum Visa Infinite, I can earn cash back rewards of $684 per year.  However, when you subtract the $99 annual fee I’m left with $585 cash back each year.

Sign up for the Scotia Momentum Visa Infinite here – (link)

Capital One Aspire World MasterCard

  • 2 reward miles for every $1 spent
  • 35,000 bonus reward miles on your first purchase
  • 10,000 anniversary bonus reward miles every year
  • $120 annual fee
  • Redeem points for travel, cash back or merchandise
  • Trip interruption or cancellation insurance
  • Purchase protection and extended warranty

The Capital One Aspire World MasterCard is marketed as a travel rewards credit card, however with flexible redemption options you can redeem your points for cash; easily making this one of the top cash back credit cards in Canada.

Calculating points with the Capital One Aspire World MasterCard is straightforward:  10,000 points = $75

2 miles for every $1 in purchases – 60,000 points
35,000 bonus miles with first purchase – 35,000 points
10,000 bonus anniversary miles – 10,000 points

With this card, I can earn cash back rewards of $787.50 in the first year.  After subtracting the $120 annual fee I’m still left with $667.50 cash back.  However, without the 35,000 bonus miles in subsequent years my annual cash back rewards drops to $525.

Sign up for the Capital One Aspire World MasterCard here – (link)

MBNA Smart Cash MasterCard

  • 5% cash back on gas and groceries for the first 6 months
  • 3% cash back afterwards
  • 1% cash back on all other purchases
  • No annual fee
  • 1.99% introductory balance transfer rate for the first 10 months
  • Receive a cheque automatically once your cash back totals at least $50 per month
  • Purchase protection and extended warranty

With the MBNA Smart Cash MasterCard, I can earn cash back rewards of $588 in the first year, and there is no annual fee.  However, after the first year the annual cash back drops down to $492.

Sign up for the MBNA Smart Cash MasterCard here – (link)

Final Thoughts

The main factor to consider when choosing a rewards credit card is the amount of money you spend each month on your card.  Annual fee credit cards don’t make sense until you have a good income and are spending at least $2,500 per month on your card.

These top cash back credit cards all have their own unique benefits.  Some rewards cards promote major incentives during the first year to draw in customers, but don’t offer the best rewards over the long term.

I personally use the MBNA Smart Cash MasterCard and I enjoy this card because it’s easy to use and the cash back rewards are automatically sent to me once I reach the $50 threshold.  5% cash back on groceries and gas for the first 6 months is a pretty nice bonus.

At first glance, with the incredible first year earnings offered by the Capital One Aspire World MasterCard, this card should be the top cash back credit card in Canada.  Receiving $667.50 cash back in the first year is amazing, but the cash back rewards drop down to $525 in subsequent years.

It looks like the Scotia Momentum Visa Infinite credit card is the top cash back card based on my spending levels.  Here’s how the three cards stack up over three years:

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How to send Free Text Messages to Rogers, Fido, Telus, Bell & Virgin Canada Cell Phones

There are 2 ways of sending your friends free SMS Text Messages to their cell phones. Note that some providers charge the receiver while others don’t. I know that if you use Rogers website to send the text message no one gets charged. i.e. it’s 100% free.

I was going to blog this as part of my Christmas countdown since it would be nice to be able to send all your friends a free text message wishing them a Merry Christmas but I figured it’s too generic and not just limited to that occasion.

Method 1: From the wireless carrier’s website

Each wireless company has a website from which you can send free Text Messages:

Method 2: By email. Yes email!

you can easily send emails to your friends’ cell phones directly from your email. You just need to know the number and the carrier of the recipient to start emailing them to their cell phone. Here is a list of the emails of different carriers. You need to replace the part before the “@” with your friend’s number.

  • Rogers Wireless: [10-digit phone number]@pcs.rogers.com
  • Fido: [10-digit phone number]@fido.ca
  • Telus: [10-digit phone number]@msg.telus.com
  • Bell Mobility: [10-digit phone number]@txt.bell.ca
  • Kudo Mobile: [10-digit phone number]@msg.koodomobile.com
  • MTS: [10-digit phone number]@text.mtsmobility.com
  • President’s Choice: [10-digit phone number]@txt.bell.ca
  • Sasktel: [10-digit phone number]@sms.sasktel.com
  • Solo: [10-digit phone number]@txt.bell.ca
  • Virgin: [10-digit phone number]@vmobile.ca

You need to replace the [10-digit phone number] with your friend’s number. For example, If your friend’s number was 613-123-4567 and their carrier was Rogers, you’d send an email to 6131234567@pcs.rogers.com

 

what it takes to come alive..

 

Yellow diamonds in the light
And we’re standing side by side
As your shadow crosses mine
What it takes to come alive

It’s the way I’m feeling I just can’t deny
But I’ve gotta let it go

We found love in a hopeless place
We found love in a hopeless place
We found love in a hopeless place
We found love in a hopeless place

Shine a light through an open door
Love and life I will divide
Turn away cause I need you more
Feel the heartbeat in my mind

It’s the way I’m feeling I just can’t deny
But I’ve gotta let it go

We found love in a hopeless place
We found love in a hopeless place
We found love in a hopeless place
We found love in a hopeless place

Yellow diamonds in the light
And we’re standing side by side
As your shadow crosses mine
What it takes to come alive

baby’s wedding dress

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looking good with pink ~ 

silence.

 

7 second memory..

its never bored as fishes swimming around in fish tanks… because they have a new memory every 7 seconds…
who you met, what you did … could be forgotten after 7 seconds…
too bad ppl can’t turn into fishes… can’t forget the person one loves, can’t stop missing the person one loves, can’t…

If two people are meant to be together, eventually they’ll find their way back.

nice quote from <Gossip Girl>, to add my 2cents:
On their way back, every tiny bit of effort counts towards their final destiny.. God arranges us together and it is upon our hands to tell God he made the right chocie..

Wish 0.2+0.8 = 1 soons to be a balanced equation