Beware of: Chase Best Buy Reward Zone Visa
Chase Canada credit cards are known for waiving its foreign transaction fees, which can be extremely valuable if you travel abroad a lot However, Chase does actually have one exception, the Chase Best Buy Reward Zone Visa credit card. Yesterday, we wrote about how this credit card is a great choice for a no annual fee credit card. However, we recently learned that it is the only Chase Canada credit card exception that does not actually wave its foreign transaction fees.
My guess is that they do not want Canadians using this credit card to make purchases at the Best Buy Stores in the United States to take advantage of the waived foreign transaction fee. Maybe they have some sort of agreement with Best Buy Canada. Whatever the reason is, I would not even bother with this credit card since it only earns you a 1 points per $1 on all your expenses, but you do get a 2 points per $1 spent on purchases made at Best Buy; however you can only redeem your points at Best Buy. Each point is actually worth more than 1 cent each, so there is some value to be had.
Bottom line is, unless you shop often at Best Buy, there are so many other choices of better of no annual fee credit cards. If I had to pick one Chase Canada credit card, I would go with the Chase Amazon Visa.
I think what you’re doing here is pretty good. But there is a few problems with your argument and I think you should probably rethink it.
Thank you for your feedback! I know I was fairly harsh on this credit card. The point I wanted to emphasis is that there is a general impression that all Chase Canada credit cards waive all their foreign transaction fees, but in fact there is this one exception. So reading the fine lines is crucial when considering a credit card so that you do not get caught. That being said, I think that this credit card actually has some value if the cardholder makes purchases at Best Buy stores. We will be coming up with a post about the Rewards program and how this credit card can be valuable to the program.
What other arguments should we rethink?