SirCranksalot Posted December 20, 2015 Report Share Posted December 20, 2015 .Why hand over any more of your hard earned money..I just dont get it.. Most of the cards mentioned on here have no annual fee, so we are not handing over any money. Link to comment Share on other sites More sharing options...
crappieperchhunter Posted December 20, 2015 Report Share Posted December 20, 2015 I dont use credit cards at all..Air-miles at shell and a Costco card..Costco is nice for gas if the lineup is-int to long and the propane is an amazing deal..Cost me $4.50 the other day to fill up mybbq tank. If you guys are buying lots of propane throughout the year its worth the membership yearly..that's only 50 bucks. I filled up my 100 pounder at the Peterborough Costco for $50 bucks the trailer is all set for another 2 years! The only ones that make money on credit cards are the banks..Not for this guy..This is what we have debit cards..Why hand over any more of your hard earned money..I just dont get it.. The credit card I mentioned has no fee. And we pay it off every month. On top of that as I mentioned it earns me $250+ a year in free groceries. So essentially it is the same as your banking card you use to purchase your gas at Costco, except I earn free stuff when I use it. I don't see any down side to this at all. Link to comment Share on other sites More sharing options...
chris.brock Posted December 20, 2015 Report Share Posted December 20, 2015 The kicker is you have to pay it off every month. The interest rates are retarded. That's how they make money. Free stuff for me DeWalt table saw, 2 BBQs, vacuum, hunting blind........... etc Link to comment Share on other sites More sharing options...
aplumma Posted December 20, 2015 Report Share Posted December 20, 2015 If you carry a 0 balance month to month you will not pay any interest. With careful shopping and a good credit score no fees is very possible from all of the major credit card companies. I can run 8-10 thousand thru my credit card from the business and personal purchases a month and reap the rewards from it. Using credit is not a crime it in fact is beneficial in this world we live in. The abuse of credit can ruin your life quickly though. When you are making a major purchase IE a car,boat or house the stronger your credit is the cheaper the rate is to borrow money. This in itself can save you more than most credit card give backs you can find. Art Link to comment Share on other sites More sharing options...
Raf Posted December 20, 2015 Report Share Posted December 20, 2015 like chris and art said paying off your card month to month is key -- never pay interest sometimes the fee based cards make more sense than the free ones if you spend enough to reap the rewards and cover the annual fee. Link to comment Share on other sites More sharing options...
fisherman7 Posted December 21, 2015 Report Share Posted December 21, 2015 The key with the CT Options Master Card is buying gas in 20 litre increments. Best bonus come from 60l and up. Link to comment Share on other sites More sharing options...
SirCranksalot Posted December 21, 2015 Report Share Posted December 21, 2015 The key with the CT Options Master Card is buying gas in 20 litre increments. Best bonus come from 60l and up. Really--I thought it was just a percentage on the volume. You mean NOT buy 20 l at a time? Link to comment Share on other sites More sharing options...
G.mech Posted December 21, 2015 Report Share Posted December 21, 2015 (edited) There is one down side to credit cards; that is that the banks are making a killing off them even if you pay down your balance every month. The banks charge retailers between 1.5-3% of every purchase and although you won't see it on your bill, it is tacked on the price of the products in the stores. They offer you points and rewards so you keep filling their pockets without you seeing it. Hypothetically, if everyone stopped using cards and retailers actually passed along the savings, you would be far better off in the long run and the banks record profits may take a minor hit but we all know this will never happen. Edited December 21, 2015 by G.mech Link to comment Share on other sites More sharing options...
bare foot wader Posted December 21, 2015 Report Share Posted December 21, 2015 I'm a big fan of the crappy tire mastercard, get points at marks work wearhouse too....between my personal and work truck I rack up minimum 35 up to 50 a month on the card if you price match something, you get an extra 10% in points on the lower price, and you can price match a lot of things there, especially in the fishing aisle Link to comment Share on other sites More sharing options...
Oggie Posted December 21, 2015 Report Share Posted December 21, 2015 (edited) I dont use credit cards at all..Air-miles at shell and a Costco card..Costco is nice for gas if the lineup is-int to long and the propane is an amazing deal..Cost me $4.50 the other day to fill up mybbq tank. If you guys are buying lots of propane throughout the year its worth the membership yearly..that's only 50 bucks. I filled up my 100 pounder at the Peterborough Costco for $50 bucks the trailer is all set for another 2 years! The only ones that make money on credit cards are the banks..Not for this guy..This is what we have debit cards..Why hand over any more of your hard earned money..I just dont get it.. You're right in a way. Somebody in the food chain is paying for these reward programs, likely the card user that carries a monthly balance. If you're using reward cards and not carrying a balance then YOU are money up at the end of the year. Not using them won't discourage the companies that offer them but the retailers like you because they pay a % of the purchase everytime you use the card. Do the Retailers offer a discount for cash payment???? Not many do. Edited December 21, 2015 by Oggie Link to comment Share on other sites More sharing options...
Garnet Posted December 21, 2015 Report Share Posted December 21, 2015 I just refuse more plastic cards in my wallet. And if more people demand 1 card fits 10 stores it will happen. My wallet is full. Link to comment Share on other sites More sharing options...
fisherman7 Posted December 21, 2015 Report Share Posted December 21, 2015 Really--I thought it was just a percentage on the volume. You mean NOT buy 20 l at a time? No, buy either 20, 40, 60, 80, etc. You don't get much for 45 for example. Link to comment Share on other sites More sharing options...
John Bacon Posted December 21, 2015 Report Share Posted December 21, 2015 I just refuse more plastic cards in my wallet. And if more people demand 1 card fits 10 stores it will happen. My wallet is full. Most of these cards can be used in any store. E.g. Cdn Tire Options and Gas Advantage are MasterCards and can be used anywhere MasterCard is accepted. This seems to be the trend with most store cards now. You usually get some better benefits when used at the 'host' store; but almost any card can be used at almost any store. I agree that you don't want to get too carried away with all of the different reward cards. It is usually better to pick one or two that you like best and stick to them. Link to comment Share on other sites More sharing options...
Cast-Away Posted December 21, 2015 Report Share Posted December 21, 2015 The other thing you get from Costco is a 2% rebate cheque in January for all purchases including the gas if you use their Mastercard. Oh and 20# of propane is $11.49! Link to comment Share on other sites More sharing options...
bare foot wader Posted December 21, 2015 Report Share Posted December 21, 2015 No, buy either 20, 40, 60, 80, etc. You don't get much for 45 for example. that's old info, it changed a few year ago, it's bracketed every 5L now starting at 15 Link to comment Share on other sites More sharing options...
tb4me Posted December 22, 2015 Report Share Posted December 22, 2015 The other thing you get from Costco is a 2% rebate cheque in January for all purchases including the gas if you use their Mastercard. Oh and 20# of propane is $11.49! Not at the Ancaster store// They go by the liter..The Peterborough one is flat rate..depends on what system the store uses Link to comment Share on other sites More sharing options...
Old Ironmaker Posted December 22, 2015 Report Share Posted December 22, 2015 (edited) And the guys that are not and never will be online wonder why I spend time on OFC. The Ontario Financial Community. Always something to learn here. I have never bought into using a credit card for anything or a points card. I tried but would loose the tag for Pioneer and just go where gas was cheapest. I was taught old school, cash only and when I did years ago use Visa I got myself in trouble after my divorce, it's easy to do. My wife has always used her Shoppers Optimum points since it came out since she is employed there. She gets big points for signing people up and it's her job. A good deal. Since being bought out by Loblaws the card can be used at the grocery stores like Zehrs now. I am a believer now as a month or so ago she showed me a dozen bags of food and dry goods and said she cashed out and the total load was around 30 bucks, wow. I'm not going to feel guilty that I get all of our gas at the Rez for around 15 cents less per lt. than town which is always 4 or more cents more than Hamilton, should I? Supply and demand rip off. rural always pays more for everything. But I have bought into this points thing. Now all I need to do is go shopping. Edited December 22, 2015 by Old Ironmaker Link to comment Share on other sites More sharing options...
wormdunker Posted December 22, 2015 Report Share Posted December 22, 2015 Wow! Lottsa good info here! I have several cards but the one I like the most is my TD Gold Elite Visa. Lottsa goodies such as free roadside assistance, 1% cash redemption on all purchases, free safety deposit box. But I'm definitely going to investigate my benefits of using my CTC Options MasterCard for gas purchases. Thanx for your info guys. Merry Christmas to all! Link to comment Share on other sites More sharing options...
dave524 Posted December 22, 2015 Report Share Posted December 22, 2015 When it first came out in the 50's you got 5% of the purchase price in CTC money , some stores in Quebec mostly I recall were 3%. Now it is maybe a tenth of that. Link to comment Share on other sites More sharing options...
ch312 Posted December 23, 2015 Report Share Posted December 23, 2015 I've had the Options card for a few years and was upgraded to a higher level where I earn a ton more points on all purchases. Use the card for everything from a single coffee to gas to utility bills and the free money for CT just racks up. 10+ years since I got the card and I haven't paid $0.01 in interest while they've paid for plenty of free stuff. Link to comment Share on other sites More sharing options...
fishindevil Posted December 23, 2015 Report Share Posted December 23, 2015 By just using my can tire gas card witch is not a credit card just a can tire money card I get about 2.50-4.00 every fill up in my truck after a few months I have $30-$60 in Canadian tire money to spend in the store so I need gas all the time so might as well use them I still have $200 in can tire money at home so it mostly goes towards fishing stuff like the other day it was 15x can tire money at the gas pump and I got $4 in can tire money back Link to comment Share on other sites More sharing options...
dave524 Posted December 23, 2015 Report Share Posted December 23, 2015 Loblaws/ Superstore here in town has a "Refuel" gas bar that advertises up to 4 cents a litre in grocery credits, everybody has to eat. Link to comment Share on other sites More sharing options...
Oggie Posted December 23, 2015 Report Share Posted December 23, 2015 My only complaint is the lack of CT gas bars. The highway 11 from Barrie to North Bay has no CT gas bars on the highway. You're forced to go into small towns to use the discount. My local gas bar in Deep River only sells regular gas so I don't use the discount for outboards, chainsaws etc. Link to comment Share on other sites More sharing options...
SirCranksalot Posted December 23, 2015 Report Share Posted December 23, 2015 My only complaint is the lack of CT gas bars. Ok, but you can collect CT points at any gas bar when you use the CTC card. Link to comment Share on other sites More sharing options...
pics Posted December 24, 2015 Report Share Posted December 24, 2015 Use your card on boxing day and you get 12% back in Canadian tire money on the card... not bad Link to comment Share on other sites More sharing options...
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