Credit Cards

There are far too many options.  I spent a good couple of hours last night perusing the internet in search of the best card for us - but I'm getting a tad bit overwhelmed.  I thought it might help if I right out the though process I'm going through and get any feedback you might have.

Step One.  Identify what we want out of a card
  1. Low Interest Rate
  2. Rewards
  3. Cash Back
  4. No Annual Fee
Jordan likes no annual fee, but he also likes free stuff (his words).  I'm comfortable with an average interest rate (which seems to be around the 19% mark) because we're not planning on carrying a balance.  We don't spend enough money to make cash back seem like a valuable option. 

Step Two. Identify Rewards Programs we are already involved in/interested in
  1. AIR MILES (we shop at Safeway and Shell b/c of the airmiles)
  2. Areoplan (but we so don't use this)
  3. Petropoints (I collect them but don't do anything with them)
Step Three. List All Airmiles reward cards that have no annual fee

*there may be others, but I can't find them if they exist

Step Four. Choose a card

Okay - this is where it gets a bit tricky.  My brain hurts, and I'm really not sure which card would be the best one.  I don't like the looks of the BMO Gold card b/c if it's nasty annual fee - but it feels like a toss up between the other three.

Which would you choose, or is there something we're not thinking of?


The BMO Gold Mastercard is now offering 1000 bonus reward air miles for signing up.  That's the one with the $99/annual fee. 

I also just found a calculator that shows how many AIR MILES you would earn with each card on an annual basis. If we spent $1,000 on the card (realistic) and $100 with the card each at shell each month we would get 864 AIR MILES with the Gold BMO card and 630 with the regular BMO card for the year The difference of 234 miles -might be worth something, but I'm not sure it's worth $99/year fee.

Considering redeeming miles for Cineplex movie passes - you get two for 175 miles and that is worth about $25.  The extra value in the reward miles is only about $35.  That said, the 1000 bonus miles would be worth about $125.  



  1. Don't ask me! lol I have the BMO gold and I have the AMEX no fee card. The BMO gold is totally worth it to me because we spend quite a bit on the credit card (always pay it off of course) and that results in buckets of airmiles. buckets I tell you.

    When we first got a joint card though we got the no fee card and only after a year or two did we take the plunge and pay a fee. I know alot of people think that paying the fee is for suckers but I feel like we get so many extra airmiles out of it that it's worth it.

    So, I recommend you get a no fee card to start and then after a while (6 months maybe?) you look to see how many more airmiles you have earned if you had the gold card. If you think it would be worth it at that point...you switch

  2. I just applied for the BMO airmiles mastercard. I chose it because 1) no annual fee 2) we get all our gas at Shell so the 1.5x airmiles is a nice bonus.

    We are THISCLOSE to having enough airmiles to get a KitchenAid mixer (!!!) so I want to push it over the edge. I never carry a balance either -- which is also why I'm opposed to the annual fee cards. Being charged $99/yr is the same as paying $8.25/mo on a non-existent balance. NO THANKS!

  3. I used to have the gold BMO airmiles and paid the fee but I really wasn't spending enough on the card to make it worthwhile. I downgraded to the regular BMO airmiles mastercard and am very happy with that.

    I have used the points three times (during seatsales) to fly my godchild (niece) home from university. She's done now so I guess the points are mine again LOL

  4. I have a BMO gold airmiles and use it for everything. And pay it off every month (haven't carried a balance in at least 8 years). The $99 is a price I'm willing to pay to get airmiles... I just bought a KitchenAid mixer with a part of my Airmiles balance and enough miles left over for 3 trips to NY, Boston or Montreal (shorter flights).

    They do add up really fast! I wouldn't trade my card...

  5. I also have the BMO airmiles card, standard not gold. Basically, if the amount of airmiles you earn over the year is worth more than $99 then the annual fee would be worth it.

  6. I used to have the no-fee Amex and recently upgraded to the Platinum as the extra miles were worth it. I put every single thing on the card and have got a ton of miles!

    One con about Amex though is it isn't accepted everywhere, for example Loblaws doesn't take it.

  7. I have had a standard BMO airmiles card for a few years now. I also have a no-fee Amex that I use only for Costco purchases. I have both cards because I've found fewer and fewer retailers accept Amex cards. You might want to check where you shop and make sure they accept Amex if you choose that card!

  8. Depends on how much you shop at Costco. I like having an AMEX for that. But it would get really annoying if you couldn't use your joint card somewhere and still had to deal with who owed who what.

  9. thanks for all the reply's.. its helping... I like Airmiles


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