Reviews

Wealthsimple Cash Card Review – Pros, Cons, Eligibility, How to Apply, Cashback

If you are a person who loves to spend but has trouble keeping tabs on it, prepaid cash credit cards are for you. Prepaid cash cards are quite different from credit cards. It requires funding in advance from the cardholder to avail the card. It helps to limit your spending money and allows the cardholder to be conscious of the exact amount spent.

As Warren Buffet once said, “Do not save what is left after spending but spend what is left after saving”.

In the current Wealthsimple Cash Card Review, we look at one of the best prepaid cash cards in Canada, Wealthsimple cash card.

Card Name & Card issuer: Wealthsimple Cash Card Review – Wealthsimple

Wealthsimple kept the millennials in mind while establishing this institution. It is an online investment management service that paves a clever way in investing, saving, and spending their clients’ money. The headquarters situated in Toronto, Canada, is headed by CEO Michael Katchen.

Wealthsimple Cash Card Review

Wealthsimple cash is a free peer-to-peer payment app that recently released a physical card for the same. The card is a prepaid Visa cash card through which purchases can be made by the funds paid into your Wealthsimple cash account. 

The card helps in easy paying and receiving funds from various contacts. The refunded money is visible once the process has been completed.

Another advantage of this card is that it has no foreign exchange transaction fees or declined transaction fees. The only fees extracted are the standard ATM withdrawal fees (about$3.00) and currency conversion fees, when purchases are made outside the CAD currency.

The Wealthsimple Cash card has no annual fee. 

Wealthsimple Cash Card Transaction limits

Since it is a prepaid cash card, it requires funding in the account in advance to make any purchases. The transaction limit per day and per transaction is unlimited. The maximum spending limit is 10,000 CAD (per day and transaction). The ATM withdrawal limits are up to 500 CAD per transaction and 1000 CAD per day. The amount balance is visible in the Cash app.

Wealthsimple Cash Card Cashbacks

Wealthsimple cash card applies 5% cashback on purchases from restaurants, bars, and food delivery services. This cashback is only available in a certain period between 12:00 am EST(on Fridays) and 11:59 pm EST(on Sundays). The Cash app allows you to view from where the cashback came in.

How to apply for Wealthsimple Cash Card?

The following are the steps to apply for the Wealthsimple Cash card:

1. Open a Wealthsimple Cash account
2. Download the Wealthsimple Cash app and link it with the Wealthsimple cash account.
3. Add money into your cash account via the app.
4. Request for a physical card, which will arrive via mail within a few days.
5. To activate the physical card and to set the PIN, call +1 877-868-0854
6. Import your contact list into the app to make payments and receive amounts instantly.

Wealthsimple Cash Card Benefits

• The Wealthsimple Cash card has no annual fee.
• No minimum balance required
• No foreign exchange transaction fees or declined transaction fees
• Cash backs up to 5% earned from restaurants, bars, and food delivery services.
• Wealthsimple cash app helps in easy payment and receiving of money instantly.
• Along with your physical card, you receive a virtual card via the Cash app.
• Apple, Samsung, and Google Pay can be linked to this account.
• The physical card can withdraw money from an ATM.

Wealthsimple Cash Card Drawbacks

• Limited cash backs: The cash backs earned are only from restaurants, bars, and food delivery services and not for all purchases.
• Credit score: Prepaid cards are not applicable for a good credit score.

Conclusion – Wealthsimple Cash Card Review

The above-curated information is from meticulous research as I have not earned the opportunity to purchase the Wealthsimple Cash card. The above card is Canada’s first P2P payment app, which recently released a physical card with no annual fees. Thus, the Wealthsimple Cash card is one of the best prepaid credit cards in Canada.

Tangerine Money-Back Credit Card: Review, Eligibility, Cashback, Pros and Cons

Tangerine credit cards are the best no-annual-fee credit card in Canada and Best Student Credit Cards in Canada. As you know how troublesome it is to find the best credit card in Canada that includes all the exciting features and is still able to fulfill our desires. Tangerine Money-Back Credit card makes it easy for you to save money on every purchase and return you with exciting cashback and Money-back rewards.

Although, no-fee credit cards are in high demand nowadays as customers are preferring affordability. And, Tangerine Credit card is one of them that provides maximum satisfaction to their cardholders.

Card Name & Issuer: Tangerine Money-Back Credit Card

Tangerine was established as ING DIRECT CANADA on April 27, 1997. Particularly, they don’t have branches everywhere but it’s more like a website. Its headquarters is situated in Toronto.

Tangerine Money-Back Credit Card Annual Fee

As you are aware of the fact that Tangerine money-back credit card doesn’t require an annual fee. Therefore, you are good to go.

Eligibility Requirements for Tangerine Money-Back Credit Card

• The Gross annual income required for this card is $12,000 or more.
• And you must have attained the majority age in Canada.
• Must be a permanent resident of Canada.
• No history of Bankruptcies.

Tangerine Money-Back Credit Card Rewards/Offers

• You will earn 2% money-back rewards on any two purchase categories and 0.50% Money-back rewards on any other purchase category.
• There is no prior limit on earning money-back rewards.
• You can deposit all your tangerine money-back rewards on Tangerine savings account and get an extra 2% money-back category.
• 2% Money-Back Categories includes:
  • Grocery
  • Furniture
  • Hotels
  • Gas
  • Recurring bill payments
  • Restaurants

How to Apply for Tangerine Money-Back Credit Card?

• Visit the official site of Tangerine Money-back credit card. You need to register an account to apply for it.
• If you already have an account then you can choose to log in.
• Then you will be presented with a form on that particular site.
• Tangerine will be asking you about the employment information, annual salary, mailing addresses, and contact information.
• Read the full statements and fill the respective form and submit it.

Insurance Coverage on Tangerine Money-back Credit Card

• Purchase insurance:
  Purchase assurance is provided to cardholders to cover loss, theft, or any damage on new purchases made anywhere in the world.
  The validity of this insurance is up to 90 days from the date of purchase.
• Extend warranty

Tangerine Money-Back Credit Card Pros

• The crucial pros of this card are that there is no annual fee required.
• You can choose your money-back categories by yourself.
• Your money back category can be increased added with extra benefits.
• You will get various cashback offers along with a welcome offer
• Compatible with mobile payment apps.
• Cashbacks can be easily redeemed and transferred to a savings account.

Tangerine Money-Back Credit Card Cons

• Tangerine Bank doesn’t have any branch anywhere. they are like a web portal bank.
• Regular cashback rewards are not enough alluring for customers.
• Insurance coverage isn’t up to the mark.
• The purchase protection period is very much limited.
• You cannot give cashbacks as cash or cheques.

Editor’s Review on Tangerine Money-back Credit card

Tangerine Money-back credit card is no doubt a top-notch card. And it doesn’t require an annual fee. But at the same time, its money-back returns rate is quite low as compared to any other no annual fee credit card. Tangerine money-back credit card gives you the advantage of choosing your 2% money-back categories for money-back returns and apart from that, you can increase your money-back category too.

However, the Insurance coverage is also not up to the mark and the 2% money-back rate is very modest. At last, I would say the Tangerine Money-back credit card is quite beneficial for those who prefer affordability and don’t want to pay an annual fee but expect satisfying offers. Then this card would be the best option as it’s compatible with mobile Payment apps like Gay. And Redeeming is easier for cardholders because the money-back rate gets transferred to the Tangerine savings account automatically and can be redeemed as per the user’s preference.

Best Student Credit Cards in Canada – Attention! Want to save every penny possible!!!!!! When you are suddenly plunged into independence at the age of 18 (majority age for some provinces), the world of finance could be quite bewildering. Starting to save for the future and being financially responsible from a young age should be a befitting goal. 

Why do you need a Student Credit Card?

On having a student credit card in canada, various personal expenses during your college years like buying a car and others can be readily met even if you don’t draw an honorarium. Best Student credit cards can provide you with rewards and/ or cash-backs. The cardholder needs to be consistent in paying their monthly credit balance for their credit history to be healthy. Having a good credit history is essential to show financial responsibility in repaying the incurred debts, and would serve in the future for receiving larger credit. We recommend you to use the Mogo Free Credit Monitoring tool to monitor your credit score monthly.  

Is it necessary to have a job?

College students aged 18 years or above (legal age varies per province) can apply for student credit cards. The majority of the banks do not imply for the student to have a specific job or income source. In the event they demand, the applicant can consider getting a part-time job or put forward an alternative income source, probably your parents’ income or guarantee, loans, or personal savings.

5 Best Student Credit Cards in Canada 2021

1. Tangerine Money-Back Credit Card

Tangerine Money-back card is one of the Best Student Credit Cards in Canada.

Attractive features are:

• No annual fee
• Interest rate: 19.95
• Rewards up to 2% on everyday purchases and 2% money-back on your category of choice.
• Purchase assurance and extended warranty.
• Eligibility Criteria: Person of majority age as per province with a gross annual income of $12,000 and a resident of Canada without any case of bankruptcy for the past 7 years.

Cash redemption can be done anytime to your savings account or to the credit card balance. For the first 6 months, you only need to pay 1.95% interest on the transferred amount. In the first 2 months, purchasing items worth up to $1,000 from the Tangerine Money-Back Credit Card, 15% (up to $120) is earned as a reward (limited offer).

Click Here To Read Detailed Review of Tangerine Money-Back Credit Card

2. Scotiabank SCENE Visa Card

This Credit Card in Canada is apt for a person who consistently loves going to the movie theatres. The Scotiabank SCENE Visa Card provides:

• No annual fee
• Interest rate: 19.99% for purchases and 22.99% for cash advances
• $500 minimum credit limit
• For every $1 spent on everyday purchases, 1 SCENE point is earned. 
• 5 SCENE points for every $1 spent in Cineplex theatres or at cineplex.com.
• Eligibility Criteria: Person of majority age as per province with a gross income of $12,000 and a resident of Canada without a case of bankruptcy for the past 7 years.

In the first 3 months, 2,500 points can be earned for the first $500 spent. 1,250 SCENE points can be redeemed for a free movie. $10 discount can be earned from restaurants by redeeming 1.000 SCENE points.

3. BMO CashBack Mastercard

BMO Cashback MasterCard is one of the best cash back credit card Canada for college students.

The attractive features of BMO CashBack Mastercard are:

• No annual fee
• Interest rate: 19.99% for purchases and 22.99% for cash advances
• 3% cash-back on groceries, 1% on recurring payments, and 0.5% on others
• Purchase protection and extended warranty
• Add another cardholder for free and earn more cash-backs.
• Eligibility Criteria: Person of majority age as per province with a minimum income requirement and a resident of Canada without a case of bankruptcy for the past 7 years.

Cash redemption can be done anytime. An automatic deposit of cash balance on reaching a specified amount (minimum balance $25) can be established as per choice. In the first 3 months, up to 5% cashback and introductory interest rate to 1.99% on balance transfers for 9 months.

4. BMO AIR MILES Mastercard

For hodophile (travel-loving) students, this card is apt for you as it gives numerous travel rewards.It is considered the Best Travel Credit Card in Canada for students which is having the following features. 

• No annual fee
• Interest rate: 19.99% for purchases and 22.99% for cash advances
• 1 MILE point earned for every $25 spend and extra 2 points for purchasing in stores having a contract with BMO Air MILES Mastercard.
• 1,300 MILES for a Vancouver to Seattle trip
• Eligibility Criteria: Person of majority age as per province and a resident of Canada without a case of bankruptcy for the past 7 years.

Rental car discounts and various travel discounts are also available. On purchasing the card 800 MILES bonus points are earned and a 1.99% introductory interest rate is applicable for the first 9 months.

CONCLUSION:

The above-curated information is from meticulous research as I have not earned the opportunity to purchase the Best Student Credit Cards in Canada. The above 5 credit cards in Canada are the best student credit cards currently available in Canada, as they have no annual fees and you can easily earn rewards or cash backs. Savings is a dominant issue among college students and the above student credit cards can assist to resolve those issues.

Borrowell Review – How Does Borrowell Work?

Borrowell is the largest online lender in Canada with a good credit score since 2014. Borrowell helps thousands of Canadians easily access loans that suit their financial profile. If the user has a minimum credit score, Borrowell will quickly let all loan options that apply. The user can choose the tier on a three or five-year term. The user now needs to upload a notice of assessment from the last two tax returns even a picture of it, is allowed.

In the next step, Borrowell verifies the user’s bank account suing VERSAPAY. To verify, a small deposit will be deposited into the user’s bank account.at this stage, the user will get an email regarding his verification and a final review will be mailed. After his acceptance of the loan, the total amount will be deposited in the user’s account. All these will take about three days without any wasted time.

How to Repay the Loan? – Borrowell Review

Automatic monthly payment from the verified bank account is made to the borrower. An email will be sent to the user before the payment is removed. The user can also pay the total amount at any time in the process without any penalty. If the user doesn’t have enough money in the account to pay, then the user will be charged $25. The interest rate on loans ranges from 5.6% to 29.19%.

Eligibility For Borrowell – Borrowell Review

To get a loan the criteria required:

• One must be a Canadian citizen or resident.
• The age mentioned varies by province.
• A valid account with a Canadian bank.
• Valid email address.
• The credit score of about 660.
• No bankruptcy.
• Minimum credit history of 12 months and a yearly income of at least $20000 before taxes.
  

Is Borrowell Legit & Secure? – Borrowell Review

One of the biggest about online lending, in general, is security. Borrowell states that ‘the security of user’s information is their utmost priority and they spend a lot to assure security. It is legitimate and uses advanced 256-bit data encryption and uses similar technology as a traditional bank.

Borrowell – Free Credit Check

Borrowell provides the user with his Equifax credit score which is free of charge.it also provides recommendations and personalized credit coaching to the best financial products. The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to assess users’ creditworthiness. In addition to the credit score, other information is also considered to evaluate creditworthiness. The score provided is the Equifax risk score, ERS 2.0. Weekly updates on the core, credit score, and tips to increase score will be updated.

Borrowell Benefits (Borrowell Pros)

• Bank-level security with 256-bit encryption.
• checking credit score with Borrowell is free.
• Personalize financial product recommendations.
• Free weekly credit score and improvement tips are recommended.
  

Conclusion – Borrowell Review

As the interest rates charged in Borrowell if fare and free for signing, many Canadians prefer to borrow for their business or personal loans. Though If you have an excellent credit score and own a substantial portion of your house, borrowing money at a cheaper rate than what Borrowell is offering is easy. However, many Canadians don’t have excellent credit or hundreds of thousands of dollars worth of equity built up in their homes. Borrowell allows these Canadians loans quickly and easily. And the security provided is one of the main reasons for its greater impact.

Are you a Shopping lover? And, you are not able to shop every day just because you are afraid of your financial situation? Then, don’t worry Best Store Credit Cards Canada is your best Saviour. As it comes up with exciting offers, rewards, and cashback which makes your life easier and lightens up your burden. Here is the list of Best Store credit cards in Canada.

What is Store Credit Card?

You must be confused that what is the Best Store Credit Cards in Canada after all. Don’t worry we have got your back.

Store Credit cards are credit cards that can be used only at a specific brand or store to get more rewards. Retailer partners with Banks and provide credit cards to customers to encourage them to purchase on credit and pay off later. Whenever a customer purchases through that credit card, they get cashback, points, and various rewards. Those points can be redeemed later on for free purchases and merchandise. Below are the details of the 5 Best Store Credit Cards in Canada. 

5 Best Store Credit Cards in Canada 2021

MogoMoney Review– Do you know to get your loan approved in 3-minute minutes*? Simultaneously, it is also important to learn various diagonals of such financial organization which is granting loans as accurately as possible.

MogoMoney is one such fintech company that provides unsecured loans which are flexible in nature and could get approved within a span of 3 minutes. Following is the article that brings awareness on various benefits and drawbacks of MogoMoney including the special features.

What made Mogo so Unique?

MogoMoney is a financial technology company that evolved in a unique way in terms of money management. It renders services sustainably considering the health & status of society, planet, and finance respectively. It holds around 1.6 M+ Canadians as customers and is counting till the date. MogoMoney is standing as a reference to personal loans as well as credit products. Mogo technology administers various services in the long run such as granting loans, free credit score, bitcoin, mortgage services, wealth development, and many more.

• Grants personal loans
  
• Provides a platform to access free credit score
  
• Enables for Investments in Bitcoin
  
• Renders mortgage services
  
• Supports in savings and developing wealth
  
•  Planet-friendly Mogo card
  
• Facilitates ultimate privacy & protection
  

Why Choose Mogomoney?

Mogo is providing unsecured loans which are flexible in terms of interest rates as well as in advancing loans.

Providing a maximum loan amount of $35000 including pre-approving policy within a span of 3-minutes. Admitting favorable fixed interest rates from a minimum of 9.9% to 47.42%. A minimum loan amount is $500 to $3500. It endures both from a short-term period loan of 6 months to a long-term period loan of 60 months. Appreciatively, Mogo loans are offered with
a NO-Security deposit in exchange.

Mogomini provides availability of credit products in particular to the residents of AB, BC, ON, MB, NB, NL, PE & NS.   

MogoMoney Pros

Loan Flexibility

• Borrowers are owed the potential to repay the loan amount at any period of time.
  

Free- Three’s

• Irrespective of the customer is holding any kind of loan he/she is facilitated with various complimentary such as:
  

1. Auditing credit score
   
2.  Identity protection
   
3. Pre-paid MogoCard
   

100-Day Test Drive

• Borrowers will have the potential to borrow the loan for a trial period of 100 days.
  
• If the borrower is not pleased in any kind, he/she is independent to repay the loan amount only before the trial period. ends.
  
• Also receives the incurred interest amount, taxes, or fees
  

Distinctive Terms & Interest Rates

• Customers can borrow a loan between $300 – $3500
  
• Based on the credit score, the borrower is allocated with the interest rates accordingly.
  
• Interest may vary between 9.9% to 47.42%.
  

MogoMoney Application Criteria

Ahead to apply for a Mogo loan it is mandatory that one user/borrower should be eligible for the following criteria:

Residence:

It is the significant one among the eligibilities that the user must be a resident of Canada. A fact is that even though the people of Saskatchewan and Quebec
are residents of Canada they cannot undertake loans because Mogo loan is not open at previously mentioned locations.

Credit Scores:

The credit scores in MogoMoney play an important in the allocation of interest rates from person to person. Basically, the poorer the score is the higher the rate and vice versa.

Credit Profile:

It is advisable that the credit profile of a borrower should be decent as it acts as the basis for the management in evaluating the rate of interest. 

Subsequently, if you are eligible in all the above categories firstly, create a free account in order to appear for a personal loan. Secondly, the borrower will be encountered with a set of questions to which he/she should be answerable. Accordingly, the borrower will be attested with a response in 3 minutes. Lastly, to complete the application process the following necessities are significant:

• $13000 as minimum net income annually
  
• A minimum of 30 days as of steady employment
  
• Verification of Bank Account
  
• Government-issued ID – Soft copy
  
• Age of the majority under their particular province
  

MogoMoney Downfalls

Mogo lacks effective customer services based on the reviews of customers/users.

• Inaccessibility on third-party loans in respect to the 100-day trial.
  
• Interest rates tend to be irrational as the maximum rate exceeds 40%.
  
• Mogo services are narrowly available at limited locations in Canada.
  

Conclusion – Mogomoney Review

MogoMoney is one such fintech company that provides unsecured loans which are flexible in nature and could get approved within a span of 3 minutes. In addition, to get a loan, you can monitor your credit for free and you can have your Mogo Card.

*Terms & Conditions Apply

Plastic Review: How to Pay Taxes and Mortgage with Credit Card?

Are you eager to encounter the drawbacks before you pay your mortgage and taxes with your credit card? Certainly, this article is for you.

The article shall walk you through a thorough Review of Plastiq as well as significant pros and cons hidden behind the financial “Phrase payment of mortgage and taxes with a credit card”.

Payment of Mortgage & Taxes

Ahead we dive into the actual mechanism, let us understand the basic definitions of few terms.

Mortgage: It is a typical kind of loan that enables you with financial assistance to buy a property or a house. Mortgages pave the way to own a house or property bit by bit until you pay the loan and amount of interest on the mortgages. If failed to do so the lender holds the right to acquire your house in the form of possession.

An individual is entitled to pay taxes on his/her annual income, assets, and profits to the government of their particular country.

Basically, payment of the mortgage and taxes refer to the process of paying the amount of interest on the mortgages and tax on the property or house inherited from mortgage loans.

Payment of Mortgage & Taxes via Credit Card

Irrelevantly, the answer is yes there are various possible ways in order to pay your mortgage and taxes through a credit card. Fortunately, it relies on the type of credit card the user holds(apart from Discover or Mastercard a user cannot use other cards ), the cost for processing the payments, and most importantly involvement of a third party.

• Based on the type of credit card (Discover or Mastercard)
  
• Charges for the processing
  
• Third-Party Involvement (Plastiq)
  

Plastiq Review

Plastiq is a platform that enables one user, especially whose major problem is cash flow to pay his/her bills through a particular credit card or debit card. It was launched in the year 2012 extending a helping hand in the terms of payment and is also holding the history with 2+ million registrations by consumers and businesses, 1,50,000+ payments by various businesses moreover $ billion processed payments and currently, it is still counting.

Plastiq Features (Features of Plastiq)

• Plastiq facilitates cost-free with unlimited bank transfers and is suitable for any kind of enterprise due to its accuracy, security, and organizing nature.
  
• The services could satisfy one consumer holding a rational behavior by providing acquisition of perfect deal under huge competitive exchange rates if he/she making payments abroad 40+ countries in 20+ currencies. As discussed earlier it has no limit restrictions in terms of amounts.
  

• It provides the consumer to sync with the accounts of payments, bills, and vendors by merging QuickBooks online with Plastiq. This syncretization helps in paying automatically with just one click costing the least time.
  

• A consumer can also switch to enable approvals that facilitate the consumer to permit his/her employee or accountant to complete the payment on behalf of the consumer by delegating approval. Plastiq send the customer an approval request via mail especially for a large number of bills.
  

• Plastiq made tracking easy by updating and displaying your processing status at one place itself. Hence the consumer need not put effort nor waste time by surfing around the browser windows.
  

• The software is advantageous as its special feature FFD’s (Fee-Free Dollars) are the rewards provided to the consumers which are useful to eliminate or reduce fee charges.
  

Payments & Pricing – Plastiq (Plastiq fees Canada & US)

Payment through Plastiq is possible by credit & debit cards with 2.85% charges, bank-to-bank ACH transfer, or EFT free of cost and Wire Transfer Payment Delivery with $ 40 to US and $ 60 to international respectively.

A consumer or enterprise may encounter restrictions based on the type of card he/she is holding cards such as VISA, American Express, and personal prepaid debit cards are not supported nor accepted.

Make sure to notice the processing time taken by Plastiq in order to avoid delayed payments. As Plastiq takes 3 business days for bank transfers, EFT’s & ACH as well as 8 business days for cheques especially in the countries like Canada and the USA.

In context to the above conditions of payments and pricing Plastiq made easy cash flows to the following payments:

• Rent
  
• Mortgage
  
• Property Tax
  
• Income Tax
  
• Insurance
  
• Car Installments
  
• Tuition Fee
• Regular utilities
  

If you are the one who had the best experiences with Plastiq, please do share your experiences in the comment section.

In Search of a Credit Card?

• Review: CIBC Dividend Visa Infinite Card
  
• Review: Scotia Bank Amex

Scotiabank American Express Card Review, Eligibility, Benefits, Pros, Cons, Rewards

The Scotiabank American Express Card is one of the best travel cards and the only so influential card which comes without any annual fee in Scotiabank’s AMEX group of cards. This makes it super easy for customers to save money and earn Scotia reward points. This credit card is flexible and comes without any travel restrictions. It provides a number of special offers and merchandise, also the reward points can be redeemed both in day-to-day spending plus in abroad visits too. For customers who like to travel, this card really stands out among its peer cards only because of its variety of insurance protection coverages, so travelers fear no more.

Card Name and Issuer: Scotiabank American Express Card

Scotiabank is a leading bank in Canada and is one of the best international financial services providers in the Americas. It is the 3rd most preferable bank in Canada. Scotiabank credit cards are accepted in more than 200 countries and territories, allowing you to pay for your purchases safely and conveniently.

Scotiabank American Express Card Rewards

When you sign up for Scotiabank’s American Express Card, you become eligible for a welcome offer of 5,000 Scotia Rewards bonus points equalling $50 in value and which can be redeemed with your first $500 everyday purchases in the first 3 months.

In addition to these, you earn 1 Scotia reward point for every 1$ spend on everyday purchases. Moreover, you get access to special offers, merchandise, gift cards, rewards, and more as when they become live. Interest rates are 19.99% on purchases and 22.99% In case of cash advances, balance transfers, and Scotia Credit Card Cheque.

Scotiabank American Express Card Benefits

• No Annual Fee ($ 0) and no fee for each additional supplementary card.
• Enjoy all the benefits that come with being an American Express Cardholder.
• Book Trips without any restrictions or blackout periods by using Scotia Rewards Point with the help of travel agents in the Scotia Rewards Travel Service or at Post Purchase travel redemptions.
• This card comes with automatic 90-day purchase protection on eligible items against theft, loss or damage and an extended warranty term of 1 one year excluding the manufacturer’s warranty. Save on Car Rentals is another service you become eligible for by being a Scotiabank AMEX Cardholder, you can save up to 25% off base rates at participating AVIS locations and at participating Budget locations in Canada and the U.S. when you pay with your Scotiabank American Express card.
• It provides two types of optional insurance coverage bundles, Basic Protection And Comprehensive Protection.
• Provides Purchase Protection, reimbursement up to 100$ if the product price falls within 60 days of its purchase.

Scotiabank American Express Card Eligibility Requirements:

Unlike other credit cards, the eligibility requirements are very straightforward and you wouldn’t need to worry to be eligible for this card if you satisfy –

• Must be 18+ and have a fair credit score of around 650 or more.
• Minimum Income – $ 12000/yr. and no minimum household income is required as such.

How To Apply for Scotiabank American Express Card?

• In Person – by appointment in the branch office.
• By Phone Call – +18007473208 (Takes About 8 Minutes)
• Apply Online: Official Site – https://www.scotiabank.com/ca/en/personal/credit-cards/american-express/no-fee-amex-card.html

Insurance Coverages Offered on Scotia American Express Card

• Travel Accident Insurance – gives you the benefit to charge at least 75% of your ticket cost to your Card.
• Travel Emergency Medical Insurance – This Coverage is provided for eligible persons under age 65 for up to 8 consecutive days and for eligible persons age 65 and older for up to 3 consecutive days.
• Trip interruption – Let’s you charge at least 75% of your trip costs to your Card without any extra charges.
• Rental Car Collision Loss/Damage Insurance
• Purchase Security & Extended Warranty Protection.

Scotiabank American Express Card Advantages / Pros:

• Save time at the checkout – Tap your Scotiabank American Express Card or your smartphone for quick easy payments using Apple pay.
• One Account, Multiple Cards at no extra cost with same benefits.
• Interchangeability – Scotia Rewards points can be converted into SCENE points and SCENE points can be converted into Scotia Rewards points.
• A bunch of Insurance Coverages to let you always feel assured and protected

Scotiabank American Express Card Disadvantages/ Cons:

• The Primary Cardholder on the Scotiabank American Express Card Account (the “Account”) is responsible for all charges to the Account including those made by the additional Supplementary Cardholder.
• You can convert points up to a maximum of 4 times within a 24-hour period. Interchangeability conversions cannot be reversed or canceled once completed.

Conclusion/ Editor’s Review on Scotiabank American Express Card

The Information and references provided above are true to my knowledge and are made available upon thorough research of the Card. I had never before gotten a chance to get a credit card as good as this one and I will surely love to try such a service provider card myself someday. The research I’ve made before writing this article has convinced me that I myself should start making use of cards and card such as this I find worthy of use. And the other thing which I liked the most about this card is the number of insurance coverages it offers which particularly and to a substantial extent is a noteworthy factor while choosing a card for oneself. The advantages of this travel card surely outweigh its cons and that is what I find most comforting.

This card will be most suitable for frequent travelers and is a rewarding travel card when compared with its competitors.

Note: Effective November 22, 2021, changes are coming to the SCENE and Scotia Rewards programs as stated on the official site.

CIBC Dividend Visa Infinite Card: Review, Eligibility, Cashback, Pros, Cons

Cashback credit cards in Canada are one of the best credit cards in Canada today. It helps in reducing daily expenses such as while shopping for groceries, etc. by receiving a rebate of 1-10%, which varies according to the card issuer. Moreover, it can contain insurance coverage and an extended warranty from the bank.

Among all Visa-branded cards, the Visa Infinite card belongs to the highest-level tier that gives maximum benefits to the customer in this brand’s network. For which reason, the cashback infinite cards are only limitedly issued by certain banks.

In the current review, we look at one of the Best Cashback credit cards in Canada, the CIBC Dividend Visa Infinite Card.

Card Name & Issuer: CIBC Dividend Visa Infinite

The Canadian Imperial Bank of Commerce also known as CIBC is a multinational banking and financial services company. Its headquarters is situated in Toronto, Ontario, and is the fifth largest chartered bank in Canada.

CIBC Dividend Visa Infinite Card Review

CIBC Dividend Visa Infinite card has been recognized as the #1 cashback credit card for the year 2020 by Rewards Canada. It yields 4% cashback on daily purchases of groceries and gas. It issues 2% cashback on all CIBC online, mobile banking services, transportation, dining, and other recurring payments. 1% cashback is available on other services. In addition, it provides protection coverage on mobile devices and travels medical insurance.

The interest rate for purchases made is 20.99%. In the case of cash advances, the interest rate is 22.99%, but for Quebec residents, it’s 21.99%.

CIBC Dividend Visa Infinite Card Annual Fee

The card requires an annual fee of $120 which is fully rebated for the first year. In the case of additional cards (up to 3), $30 has to be paid for each card as an annual fee, which is rebated for the first year. A CIBC Smart Plus account holder can enjoy a rebate of the annual fee every year.

Eligibility Requirements for CIBC Dividend Visa Infinite Card:

The minimum annual income is a common eligibility requirement by most credit card issuers. $60,000 is the minimum annual income of an individual who can apply, while $100,000 should be the minimum annual income of the household.

How to apply for CIBC Dividend Visa Infinite Card?

Application for the CIBC Dividend Visa Infinite Card can be done online, by phone, or at a local bank branch. The card applicant must be a resident of Canada and have an eligible age as per the province. If the applicant has a CIBC account the application process would be much easier, or else personal information has to be provided as asked. This process doesn’t usually exceed more than 10 minutes.

CIBC Dividend Visa Infinite Card Cashback

• Consolidating the money transactions on every shopping or purchase, into the cashback card will usher a lot of savings.
  
• Automatic monthly installment schemes can be linked to this card to earn cashback rewards.
  
• Additional 3 cards can be requested by the cardholder. Distributing these cards among the family members or to anyone will bring in a lot of additional cash backs.
  
• Earn 4% cashback on groceries and gas.
  
• Earn 2% cashback on CIBC online, mobile banking services, transportation, dining, and other recurring payments.
  
• Earn 1% cashback on other services or purchases.
  

Insurance Coverage on CIBC Dividend Visa Infinite Card:

• Car Rental Collision/Loss Damage Insurance.
  
• Emergency travel medical expenses: The card provides insurance for up to $5 million per insured person.
  
• Mobile Device Insurance: The card will provide you with repair or replacement coverage up to $1,000 for personal mobile devices.
  
• Purchase Security & Extended Protection Insurance: For the first 90 days on purchase of the personal property you can replace, repair or reimburse the item through the insurance issued by this card.
  
• Common Carrier Accident Insurance: The cardholder’s family will receive up to $500,000 insurance.
  

CIBC Dividend Visa Infinite Card Benefits/Pros

• Owners of CIBC Smart Plus account holders can obtain the CIBC Dividend Visa Infinite Card for free without any annual fee.
  
• Maximum cashback earnings without any limit.
  
• Recent changes in February 2021 have increased the bonus.
  
• Cashback earnings can be redeemed anytime according to the cardholder’s choice.
  
• Insurance coverage and mobile device protection insurance is another advantage.
  

CIBC Dividend Visa Infinite Card Drawbacks/Cons

• The new changes in February 2021 increased the below-average annual fee of $99 to $120.
  
• 3 travel insurance coverages such as trip interruption insurance, flight delay insurance, and baggage insurance have been canceled after the new changes were made.
  

Editor’s Review on CIBC Dividend Visa Infinite Card

All the information given above is written with thorough research on the card. Personally, as an Indian citizen, I have not been able to use the CIBC Dividend Infinite Visa card. If this card is available in India, I would purchase the card as it gives amazing cashback earnings along with automatic insurance coverage. Even though there have been a few changes in this card in February 2021, there has been no downgrading in benefits.

The pros of the cashback card overtake the cons which makes it an apt choice while choosing a cashback card. While researching on the topic, the CIBC Dividend Infinite Visa Card showed up among the Best cashback credit cards in Canada.