Keeper Cards

This series makes the case for why specific cards deserve an ongoing spot in your wallet despite any annual fees or alternative options. As always I'm writing for a Canadian market, and at times targetting professionals who may have business expenses and need additional cards in that context.

What Makes a Keeper

There are several things to consider when deciding what makes a keeper card, below is a summary of the current Keeper Card articles, click through to hear the case made why these cards might be worth your time. Note this contrasts to cards you may want to open just for their sign up bonus or "sub hunt"

• Hero card - this is your "when in doubt" default card, it should be broadly accepted and have any insurances you feel are necessary, usually you want one of the following:

  • Bank Travel Cards - while this article is specifically about the TD travel program and contrasting it to the TD Aeroplan Cards, the discussion equally applies to the CIBC Aventura cards and the CIBC Aeroplan Cards

  • Aeroplan

  • RBC Avion

  • Cash Back Cards

  • Amex Platinum - note that while the Platinum provides the relevant insurances, its lack of broad acceptance means it may not make a great hero card and you will likely want to pair it with a visa or mastercard backup

• Earn rate - what cards will earn you the rewards points you want the fastest, with the least change to your current spending patterns

  • Amex cobalt - market leading earn rate on food and the ability to "hack" it to use that earn on other categories

  • Ion+ - likely the best visa earner for people who don't shop at a grocery store that takes the Cobalt, this should be paired with an Avion card

  • Amex business gold - best choice for business owners who spend $80-160k per year, a great long term choice for paying taxes

  • Best cards to combine with Chexy

• Perks and benefits - these cards either have unique features or recurring benefits which offset their cost. They can make sense even if they just sit in your "sock drawer" instead of your wallet

  • Amex Bonvoy - the annual free night credit (and more) makes this card worth holding on to

  • Westjet MC, Porter MC, and BA Visa - annual companion passes, plus free checked bags (WJ and Porter) or discounted fares (BA gets 10% off)

  • Portern MC - annual companion pass, plus free checked bags

  • Canadian Tire Mastercard - Use your credit card for bill payments with no fee and get a reward, although less appealing with the expansion of Chexy

  • Scotiabank Passport Visa Infinite - the only major bank in Canada to provide no foreign exchange fees, and for physicians the annual fee is waived

  • Amex Platinum Cards - for frequent global travellers the included lounge collection and other luxury benefits may justify the hefty card fee

  • National Bank Cards - best in class travel insurance that can be easily applied to rewards flights

Just getting started? I suggest combining a Hero card like the TD AP VI or RBC Avion VI with a high earn rate card like the Amex Cobalt or RBC Ion+. The perk specific cards can be opportunitistically added based on needs such as picking up a Westjet card before a flight with them to get free checked bags or use the companion pass, or during a big sign up bonus period like right now.

Referral links

Check out my new card comparison tool, or if you're on the fence, or wondering about other cards reach out to me for a free consult, and if you sign up for a card through my link, let me know and I will walk you through advanced tricks and personalized advice to help you get the maximum benefit both from earning and redeeming points - getting your travel journey going faster than you ever thought possible. If you're a business owner I recommend talking with me to make the best decision as there are some extra factors to consider.

Disclaimer

These posts are all made in good intentions and are to the best of my ability accurate at the time of writing. That said, the official terms and conditions and current sign up bonuses should be verified and interpreted in the context of your personal financial situation.