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What’s Next for my Credit Card Portfolio?

So it’s been a little over six months since my last batch of credit card sign-ups. The spring is coming and it looks like I need to change up my portfolio a little bit. With all the updates to certain credit cards lately, it was tough going through each one and drawing some proper conclusions. As a student, I was always looking for the credit cards with no annual fees or low interest charges because I was frightened with the thoughts that debt would start building up. However, as you move into the working world (and into the points game), you tend to lean towards your purchasing interests and habits.

After some extensive research, I decided that the following options would boost my accounts to send me off on some summer travelling:

Scotiabank Momentum Infinite Visa Card

I don’t normally find annual fee cards attractive, but recently, Scotiabank decided to waive the first year fee on this card, turning it into a very enticing offer. With it’s 4% cash back on gas and groceries, 2% cash back on drug store purchases and 1% on all other purchases, it brings the card up to one of the top cash back cards in the country. Additionally, with a permanent 4% cash back on gas and groceries, the Scotiabank Momentum Infinite Visa Card takes the lead over Costco’s Capital One MasterCard and the MBNA Smart Cash Platinum MasterCard with its temporary 6% and 5% respectively promotional cash back which expires after 3 months of activation.

Capital One IHG Rewards Club World MasterCard

This is the first time I am signing up for a hotel loyalty program, but with all the different hotel brands out there, the competition gets a little tight. Although the annual fee is $120, the card offers many benefits. Let’s start with the sign-up bonus: a whopping 60,000 IHG points after your first purchase. Secondly, if you book a hotel affiliated with IHG you can earn 5 points per every $1 spent, and 2 points per $1 for all other purchases. With $500 dollars in monthly IHG hotel bookings and $500 in other purchases, you can expect approximately 50,000 points to add up in a year. IHG stays can be redeemed sometimes for as low as 5000 points, giving you approximately ten free nights. I decided on Capital One IHG Rewards Club World MasterCard due to its quick earnings and its flexibility in switching between points and mileage.

TD Aeroplan Infinite Visa Card

Again, the TD Aeroplan Infinite Visa Card did not bring attraction to me until TD decided to waive its annual fee. With a sign-up bonus of 15,000 Aeroplan miles, this sets me off to another trip around the country. I loved the card’s Air Canada benefits, offering a complimentary first checked bag, priority check-in and finally, one annual One-Time Guess Pass to Air Canada’s Maple Leaf Lounge just for having the card. I currently own an Aeroplan card, so having a credit card for daily purchases would add some boost to my miles collecting habits.

RBC WestJet World Elite MasterCard

I am not a frequent WestJet flyer but I would love to try a new loyalty program which gives me a good bang for my bucks. I recently spoke to a client about the benefits of this card, and he was pretty amazed by the annual $99 companion fee, which caught his attention right away. Also, he mentioned that it was pretty quick and easy to get some return with a 2% earning in WestJet dollars with purchases made on WestJet flights. And finally, the RBC WestJet World Elite MasterCard offers a sign-up bonus of $250 WestJet dollars, pretty much sending you off to anywhere in the country. I guess I wouldn’t mind trying to focus some travel attention towards WestJet, I’ve flown with them before and do not find a problem with their services.

Scotiabank Gold American Express Card

A few months ago, I applied for the American Express Gold Rewards Card because they were offering a generous 25,000 sign-up bonus. Without a doubt, in a little time frame (and the help of a few referrals), I managed to book myself a nice trip to visit my family in Hong Kong which will take place this coming Spring. Looking at the Scotiabank Gold American Express card, the odds are looking good again. With a sign-up bonus of 20,000 points and 4 points per $1 spent on gas, groceries, dining and entertainment, doing some world travelling just got a little easier again. One of the benefits which caught my attention were the Access to Priority Pass Lounges Worldwide, the whole Insurance package, and of course, the $99 annual fee rebate.

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