Since we no longer use cash for anything I can easily see where all the money goes at the end of the month. Before I found if I had paid cash it was like the expense was completely forgotten about. When I use a card I’ve got the written reminder that I can’t forget about.
I know now some people find cash easier to track by putting it into envelopes or jars (like Gail Vaz Oxlade method) but for me I’m not type A enough (if at all) to write down every single transaction as it is happening or to not lose the receipts before I’ve added it all up.
Lately, I’ve been comparing credit card rewards and today I signed up for a tangerine MasterCard that’s supposed to pay 2% on three of your chosen categories and an additional percent when you deposit the funds into your tangerine account (which seems like a no brainer).
For us- groceries is the one I’m looking forward to pocketing the extra 3% mostly and I’ll have to look at our spending closely to pick the other two that would give us the most ROI.
Currently, I have an rbc avion which I’ll likely keep but since we’re not doing any major travelling in the near future and we already have a good amount of points in reserve for when we do want to use them to go somewhere or to fly family here I think it makes sense to try and optimize our rewards to receive some real cash. I like that tangerine MasterCard has no annual fee and no fee for an additional authorized user.
Also, with the current avion card I’m able to purchase gift cards but the cost is 35,000 points (earning a point per dollar) – the kick back is not even close to 2% so the best bang for your buck with avion is generally for a flight
I applied online and I’ve already been approved so just waiting for the cards to show up in the mail so we can put them to use at the grocery store.
I’m hoping having the two cards linked to the one account should also help simplify our monthly expense tracking and depositing the money directly into tangerine savings means we can save it towards the next stock purchase.
what credit card have you found with the best rewards?