Reward programs
Discounts on financial products, aircraft or cruises, free goods or cash tickets: you have a choice when it comes to related to a credit card reward programs. In the case of cash-back, from 0.5 to 2.5% of the total amount of your annual purchases returns at the end of the year. Otherwise, most financial institutions offer programs of House points. Only the Bank of Montreal and CIBC, respectively, offer of Air Miles and Aeroplan points. This may be interesting to take a credit card to the extent is already member of one or both of these clubs. |
| Credit Cards Rewards in Quebec |
In all cases, it is estimated the amount of points required by the various financial institutions in exchange for our dream gift. For example, spend a dollar with our credit card reports a point the movement des caisses Desjardins, the Laurentian Bank and the Bank of Nova Scotia. But, in their respective catalogues, a toaster oven is 170 points, 17 points and 21 500 points! To find out if a reward program is worth, "Comparing the costs and interest paid on the value of gifts or received rebates", advises Véronique Milot. If you prefer the travel, we also check whether our points give right to any airline flights and if we can go when we see fit. But be careful not to choose a credit card only for its reward program. "You look as its interest rate, its annual fee and its credit limit", said Johanne Arnould. Be "addicted" to a reward program has perverse effects, added: "It is sometimes tempted to spend a few bucks just to get the points that we are missing to receive a gift or a trip".
