There are hundreds of reasons to use a credit card for purchases whenever you can. Most cards offer incredible amount of benefits for the cardholder, that most people do not even know about. Below are tables of the credit card benefits I have compiled, by going through the footnotes sections of each card. I hope this information can help you deciding which card to get.
|Amex MR Gold||Amex MR Platinum||Scotia Momentum Visa Infinite||TD Aeroplan Visa Infinite||TD First Class Visa Infinite||Capital One World Travel|
|Reward||1MR1/$1||1.25MR1/$1||1point2/$1||1AP3/$1||3 points4/$1||2 points/$15|
|Bonus||2MR/$1 for gas, groceries, drugstore, travel||–||4point/$1 for gas, groceries, dining, entertainment||1.5AP/$1 for gas, groceries, drugstores, and Air Canada||6 points/$1 book Expedia TD by phone
9 points/$1 book Expedia TD online
|Purchase protection (damage/theft)||90 days||90 days||90 days||90 days||90 days||120 days|
|Price Protection||–||–||–||–||–||60 days|
|Other Benefits||25,000 signup MR bonus||60,000 signup MR bonus
Annual $200 travel credit
|15,000 signup bonus||15,000 signup AP bonus
MLL lounge pass and Air Canada benefits for reward flights
|20,000 signup bonus
Discount on Priority Pass
|35,000 signup bonus
10,000 anniversary bonus
The Footnotes That Nobody Reads:
- Membership Reward (MR) points are stored in your American Express account. Membership Rewards points can be redeemed for a statement credit towards travel purchases charged to your Card. There is a minimum redemption requirement of 1,000 points for a $10 credit, the credit will show up immediately as a credit transaction and in your next statement. In addition, MR points can be converted at 1:1 ratio into Aeroplan, Avios, and Hilton HHonors. At a 2:1 ratio into SPG points.
- Scotia points can be redeemed for a statement credit towards travel purchases charged to your card. There is no minimum requirement, the rate is 1 point per 1 cent. The credit will show up immediately as a credit transaction and in your next statement.
- Any Aeroplan points earned through TD Aeroplan Visa will go into your Aeroplan account directly, and they are counted towards your Distinction Status. Aeroplan points stay in your account regardless of your cardholder status.
- TD points must be redeemed through Expedia For TD portal. 10,000 points is worth $50 in credits, and they must be redeemed in 10,000 point increments. TD points do not expire as long as you are a cardholder.
- Points may be redeemed for travel, gift cards, or cash. See chart below for travel redemption, cash can be redeemed with minimum of 10,000 points for $75.