It has been a while since we last updated this list. With the weak Canadian dollar, apparently slowly recovering, I thought I’d update the list of United States affiliated credit cards offered by Canadian financial institutions.
Today, the credit card portfolio that I will be suggested is for people who spend about $2,000 a month on all their credit card bills put together. This is generally for small families of about 4 people, (2 adults and 2 children). The following is an approximate spending breakdown that I will work with:
I have been asked why I do not mention credit card sign up bonuses offers from third party websites. Today, I will give me thoughts on third party sites and also explain why I haven’t mentioned them in all my posts.
Back in 2014, we built a suggested credit card portfolio for people who spend about $500 per month. With all the changes in the industry, I though it’s time to update my suggestion. I will also be updated my suggested portfolios for the $2,000 and $5,000+ monthly spending as well. For this portfolio, it is mostly for people who live at home with their parents, so let’s say they have this approximate spending:
I have written posts ranking each financial institution, but I thought it would be fun to write a post listing the top 1 credit card per institution. I have listed the credit cards based on the most recent financial institution rankings. Maybe one day I will list the top credit cards, but it highly depends on a person’s needs, so it is very subjective.
If churning came to an end tomorrow, because all banks completely shut it down, then we will need to decide which credit cards we would want to retain over the medium and possibly long term.
It has been just over a year since I last updated this list. With a few cancellations and changes since, I thought I’d give this list a nice little update. I find that spending bonuses are very valuable, because it rewards big spenders with a benefit that helps offset an annual fee, which will reduce the urge for churning. Personally, I would actually like to see a lot more of these types of incentives with more credit cards.
We just released a post about the Top Sign Up Bonuses for the month of March. But that list was primarily focused on higher than normal sign up bonus miles and points. To be fair, there are some cash back promotional offers that are worth a look. I am uncertain whether this list is going to be re-posted monthly, but you can at least stay up to date on our Top Cash Back Credit Cards page.
TD Canada Trust is offering a slew of higher than normal Aeroplan sign up bonuses. This is a very competitive move by TD, which is actually very impressive.
It is very slim pickings for co-branded hotel loyalty program credit cards in Canada. These are only 4 credit cards left to choose from. This also means that the market is completely wide open. Unfortunately, the weak Canadian dollar is really not helping the potential for a hotel rewards program to want to enter the Canadian market.