These credit cards provide cash back, savings or rewards. Generally, cash is the best value incentive.

Updated: August 18, 2014 at 3:18 PM

Pivot Card

Pivot card by Petro Canada is a prepaid mastercard saves you 5 cents in gas for every dollar you load in which is equivalent to 5% cash back. When I first started using this card, it was actually quite a struggle. Calling their support centre, you get a out of country workers that have very, very, very strong accents to the point where I could not even understand them.

Also, because this is a prepaid card and you have to load the card, be aware if there is a mistake such as there was a withdrawal error, you will have to wait a week before you can use the card because the withdrawal error to take a week to rectify and your allotted spending amount accordingly to the amount on the error during that time.

Another concern is the no refund or exchanges on their vouchers. To load money into your prepaid Pivot credit card, you have to purchase these vouchers that can be valued up $250. These vouchers have to no refund or exchanges. So what happens when you purchase defective one? I have not run into this problem, but I have always wondered. One may argue why I just do not buy the less expensive vouchers. For every time you load a voucher, there is a charge. So to minimized your cost, it is best to load the maximum amount.

Having said all this, I have yet to run into a problem where Petro Canada has not resolved. With 5% savings, is it worth the risk. So far, all issues seem to have resolved. So I am still going to recommend this card until I run into an unresolved issue.

The key idea behind maximizing your return and minimizing cost is to load the largest $250 and spend it all at once because there is a charge for every transaction.

Verdict: Recommended
Updated: March 19, 2014 at 8:40 PM

Capital One Aspire Mastercard

Capital One appears to be downsizing. In the past, they had credit cards with 1% cash back plus an additional 0.5% annual cash back. Then, it slid down to an additional 0.25% annual cash back. 

Now, they have removed the additional annual cash backs and only offer 1% hassle free cash back. Still, their hassle free cash back means you can get the cash back any time you want. Unlike other cash credit cards that require you to reach a certain spending amount or wait a year. Their hassle free reward program is the best one out there!

Verdict: Recommended
Updated: March 20, 2014 at 11:04 AM

Amazon Visa

No annual and no foreign transaction fee and a 1% cash back reward. That means, currency conversion is calculated using VISA international rates. Other credit cards charge 2.5% foreign transaction fee.

Simply put, use this card to pay for expense from a different currency and you won't have to pay the 2.5% fee!

Verdict: Recommended
Updated: March 20, 2014 at 3:27 AM

Ultramar NBC Mastercard

Although this card advertises itself as a gas card, it actually has a better cash back value than most other cards. If you spend more than $9000 per year, this card offers a FULL 1.25% cash back. Other bank cash back credit cards are frequently tiered.

http://nbc.ca/bnc/cda/productfamilymc/0,6326,divId-2_langId-1_navCode-15959,00.html

Verdict: Recommended only if you spend more than $9000 a year on places that accept Mastercard
Updated: March 20, 2014 at 3:26 AM

ScotiaBank Momentum Infinite Visa

This card  offers 4% cash back on gas and groceries, and 1% on everything else. It also has an annual fee of $99. Compared to the MBNA Smart Cash, you would need to spend $5000 a year on gas and groceries to break even. That's a $100 a week. If you spend more than $5000 on gas a groceries that accept VISA a year, then this card is the better choice. Note that No Frills, a popular grocery store, does not accept VISA. 

For me, personally, I do shop at No Frills and do no fill up $100 a week on gas.

http://www.scotiabank.com/ca/en/0,,86,00.html

Verdict: Recommended only for those who spend more than $5000 on gas and groceries on stores that accept VISA
Updated: April 1, 2014 at 6:02 AM

MBNA Smart Cash Back

2% on groceries and gas. 1% everything else. No Annual fee. Don't think there is another card that provides more cash back with no annual fee than this one.

Personally, I don't like their advertisement claiming it is 5% cash back. Their 5% cask back is only for the first 6 months and their ads makes it deceptively look like it is forever.

https://www.applyonlinenow.com/CACCapp/Ctl/entry?sc=COMP&lc=en_CA


Verdict: Recommended