Inquire the Readers: Preferred Rewards Credit card?

I wrote about my favorite credit card, The MBNA SPG Credit card, a while back and now I’m questioningwhat your preferred credit card is?

I’m a fan of the no fee, high reward type cards. The reason why I like the MBNA SPG credit card a lot is because of the possibly high return in your bucks spend through the card. From my reward redemptions so far, I have returned around 3-5%. Of course, this is suited best for people who prefer to remain at hotels when they take a trip.

One specific redemption that they offer that I like is the flights and nights award. For 70,000 points (approximately two yrs. of investing for us), you can fly two individuals with their airline partners anywhere in North America, and get 5 nights in one of their four star hotels. Their 4 star hotels can cost anywhere from $200-$500USD/night and a flight for 2 across the nation would cost us a minimum of $1800. Assuming the hotel value is really worth about $1,500CAD (five nights x $300/night) + $1,800 = $3300. Since the SPG credit card is a 1:1 point system following bonuses, my return is: $3300/$70,000 = 4.7%.

I’ve recently been asked by a reader about decent VISA credit cards in Canada. In my opinion, there are not numerous decent NO Charge VISA cards in Canada. The only exception being the CIBC Dividend card which gives 1% cash back after you invest $3000. Other than that, so as to obtain a sensible return on your spending, you need to resort to charge based VISA’s like the CIBC Aerogold , or even the RBC Avion each of which are $120/yr for primary and $50/yr for secondary cards.

See Also

MBNA Starwood Preferred Guest Credit Card

Selecting A Capital One Credit Card

Capital One Rewards Credit Card: Improved for Small Businesses

External Links

RBCroyalbank.com

Credit.about.com

Creditcardapprovalcenter.com