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You should do an updated version for this for 2023. Cobalt is a given but the other cards could have moved around with some changes in the industry that have happened.
I've literally just binged on 20-30 of our videos and have compilex an extense word document of notes. Thank you so much for all your content. Myself, as a Canadian who wants to get into this game of travelling using points, your channel has been monumental in my learning process. Thank you!
Just moved from US to Canada. Your videos are super helpful for someone trying to switch mindsets and learn all the new best credit card options. Keep up the great work!
I have none of those cards. 😂 Curently using CIBC Aéro gold visa infinite and focusing exclusively on Aeroplan. Also want to start earning in the Marriott Bonvoy court so my next credit cards would be Amex Mariott and Amex Gold. :) That was a very useful video, I will definitely consider RBC Avion once I get more comfortable with my current goals (Aeroplan business trip to Japan with bf). Love your videos Ricky! I get super excited every time there is a new one ! JF from Montreal
Aeroplan is probably the single best program to focus exclusively on. With Amex MR points though, you'll get to transfer to Aeroplan at a 1:1 ratio while earning bigger signup bonuses. Bonvoy points are also important for hotels so you're on the right track :)
Very good video! I have been a "credit card minimalist" but after watching some of your and other youtubers travel hacking videos I'm considering getting more cards. Initially, I college, I signed up for a single RBC Signature Visa where I got the annual fee waved as a student. I upgraded ro the avion after college and now have two other cash back cards. Tangerine Moneyback Mastercard and the American Express simply cash. I like the relative simplicity. By the way: I really like that you are a Canadian youtuber sharing your expertise on this topic!
Can you refresh this list for current day??? And add a 4 card category 😁 my current plan is… Amex platinum Amex cobalt Cibc aeroplan infinite privilege
I think this video could use a revamp. Despite the flexibility of the Avion program to transfer points, other banks have come out with much more competitive cards such as the BMO Eclipse Visa Infinite and Scotia Passport Visa Infinite or Scotia Gold Amex with much higher earn rates and no FX fee. RBC seems content to sit on its laurels and unless you can get the Avion Visa Infinite at $0 AF by already being an RBC client and having the VIP banking package, the Avion cards just aren't worth having in your wallet. Now that I think about, almost none of the RBC cards are worth having since the rewards/cashback structure is quite outdated when you compare it with the competition.
only a bit, and only for a while. The reason the score drops is because you're utilization increases, but if you've paid off your cards and your utilization isn't high, it wont really matter'
I must be nuts to have like 4 credit cards for different purposes lol. I use the simplii cashback card for restaurants (4% cashback for restaurants, bars, no annual fee). The BMO cashback card for groceries (3% cashback on groceries, no annual fee) and just recently got the RBC Visa infinite card for gas and everything. Best part is I just add all of my cards on my iPhone Apple Pay so I don’t carry a wallet around with me.
I hadn't really thought about the Cobalt. I have been more into just AP. But since the Rocketman offer I got the RBC Avion. I also have the Biz Edge for the big WB of MRS.
Focusing heavily on Aeroplan is not a bad move at all, but if you're only gonna carry a few cards around, I think the 5x points has an undeniable appeal.
I saw people talking about * Cardermanager2* on telegram, I don’t believe it until I tried it and he’s legit and good, got my dumps as fullz immediately bank logs after payment
I love your videos! Can you make a video for College students who have part-time jobs and cheaper spending habits? What cards should be the most optimal for those who also want to travel but do not spend nearly as much in their everyday spending habits thanks!
I'll visit this topic one day! For these individuals, it may be in their long-term best interests to figure out how to meet minimum spending requirements creatively :)
Most cards ask for $1500 in the first three months. I would put my rent and my phone bill on these cards. Another big expense is grocery and car insurance
That's a big weakness that Canadian banks have yet to address properly. Scotiabank has taken the lead on this recently, so hopefully the rest of the Big 5 will follow.
Prince of Travel yes！transfer to Marriott then Alasika airline=1$per 2.5points and 50000points can redeem a business ticket，way faster than aeroplan earning and 75000redeem. You are my hero.
Thanks Ricky, as. a minimalist, I certainly appreciate the information you share. I recently became a Marriott Vacation Club Owner and you mentioned the Amex Cobalt card points can be converted to Marriott Bonvoy... so it seems. I should look at acquiring that card? KramdP (Ottawa)
Like Mike says, the Cobalt card is great for earning Bonvoy points on regular spending (on the 5x categories) but the Bonvoy cards themselves are very good as well.
What do you think of combining a high end AmEx with a PC Financial World Elite MC? The Loblaws owned grocery stores are one of the biggest holes in AmEx acceptance and getting 3X points with a no fee card seems like a pretty effecient way to plug that hole. I was emailed a sign-up offer for 125000 points ($125) recently to make this combo even more tempting.
What would you consider to be the best no fee credit card to compliment my Amex Platinum for those instances where they don't accept Amex? I only want to have 2 credit cards. Ideally a mastercard suggestion since that is all they take at Costco.
What is the difference between 2x the points and 2 points? I thought those where the same thing which would mean the Cobalt is the only choice. Unless the cobalt earns a 0.5 point and 2x that is just 1 point? Can someone clarify this for me?
Your combo is lousy. Here's my recommendation for most Canadians: Slot 1. AmEx Cobalt. Else a 4% grocery VISA. Only skip slot one if doing groceries and gas exclusively at Costco in Canada Slot 2. CTFS 🔻 WE (roadside assistance, partner stores & gas bars, no AmEx grocery, bill pay). Those who exclusively shop at Costco Canada for grocery and gas can turn to Rogers WE, Brim WE, Collabria MC World Slot 3. If doing cross-border, then TD Cash VISA. If not, then either Brim MC, or if Brim WE in slot 2, then HomeTrust Preferred for roadside assistance. Or just get CTFS 🔻 WE and Brim WE for slots 2 & 3 Slot 4. Many will throw Simplii VISA for 4% resto. I suggest AmEx BBP for USD travel and online shopping. Both are good picks. Slot four is optional and less minimalistic, but can really give a boost on earning and/or boosting rewards. I say most Canadians are okay with one CC with annual fee in a keeper deck. Very few have enough organic spend to justify multiple keeper annual fee cards.
Don't know if I would agree with this Joel. I'm not sure what I'd use Canadian Tire money for even if it's 3%. I suppose it depends on your priorities - if travel potential is your goal, you want transferrable points rather than a bunch of cash back equivalent cards. You're probably right that I should've been more mindful of annual fees in my analysis. The upside to paying annual fees is that they allow you to access the most valuable transferrable points for booking travel, and you'd definitely have to maximize the potential of those points to justify the annual fees. The CTFS card is probably worth it for its cheap FX possibilities too - but that's a topic for another video.
@@PrinceofTravel ideally, slot one card (for most of us...Cobalt) should sweep up most spend. CTFS 3% grocery to redeem on household stuff (and for some travellers...camping gear) and redemption minimum is 1¢... it's not all bad. Can also be redeemed at SportsCheck and Marks. It's basically to fill a small void. Given that Instacart gives 5x on Cobalt and allows shopping at Loblaws banner stores, I'm able to funnel all grocery on AmEx (perhaps after this pandemic settles) aside ethnic & micro supermarkets, where I'll gladly whip out the CTFS card. Slot two, three and maybe four are really just to fill some voids that can't be met with slot one card, not to compete on rotation which card gets to pick up the most spend for a while. Most of my spend on CTFS is primarily utility bills, anyway. For the volume, fee and rewards structure, etc. I can't justify the AmEx+Plastiq setup in lieu of CTFS for now. I think this speaks for most Canadian consumers. I think my proposed combo is a better fit for most people (minimize annual fees, still maximize net rewards, still travel, still enjoy discounts, etc.). For your proposed combo to work... 1. Justify Cobalt (I proposed alternatives...4% cashback VISA cards for anyone who can't justify AmEx as lead card) 2. Have heavy no-AmEx (but yes VISA) non-grocery spend to go on the RBC Avion Infinite (since 1 pt/$1 spent on Avion is arguably no better than 1 MR select on Cobalt per $1 spent uncategorized) and obviously minimum redemption will be quite high to get anything north of 1cpp on Avion 3. AmEx Plat or AmEx Gold...they're great cards...but for heavy spenders 4. What's annual spend going to look like to justify this combo? Min $50k/yr? $100k? You'd probably need min $20k/yr in AmEx friendly grocery and resto just to justify the Cobalt (for most people anyway, versus a 4% grocery VISA which is no hassle to get that annual cashback statement credit), but hey that's fine I still recommend Cobalt as a lead card for most people. RBC Avion? How much spend should land there to justify the card? $20k/yr to get 20k pts? Won't have much of an impact. AmEx Plat or Gold? Aside signup bonuses, spend would have to be mighty high here to justify the annual fee.
I think it still applies today, especially with AMEX Cobalt card starts earning earl MR points that can be transferred to airlines in August 2021. Ricky also did a video comparing the AMEX Platinum vs AMEX Aeroplane Reserve card if you can’t decide which one of the high end AMEX to get as your 3rd card.
Man so many businesses so little time during COVID As a fintech disruptor bringing fully integrated delivery solutions to consumers, I must state it's a good thing to have multiple platforms and products from issuers with which to execute my continued transactions through these troubling times. Better make sure my portfolio of cards are paid and ensure my insurances are in order!
I've had the Avion Visa Infinite for 3 years and I just got the Amex Cobalt a month ago. Having already accumulated 10k points with SUB on the AMEX (around 7.5k without), I can tell you that it's taken me much longer to accumulate 7k points on my Avion card because the earn rate is 1:1. When I worked it out based on my spending, it would take me one year of spending on the AMEX card without SUB to accumulate enough MRS points using the 5x category for one flight to Mexico per year. On my Avion card, to accumulate enough points for the same flight would take 4 years without SUB. The current SUB for the Avion card might be worth it if you plan to transfer the points to one of their airline partners though, so weigh that into your decision on whether or not to sign up, but I don't believe year 2 value won't be there. Truthfully, I've been thinking about cancelling the Avion card and applying for the Scotia Passport Visa Infinite because the perks are better for what I want out of the card. I just don't think RBC's cards are staying competitive as the credit card landscape is rapidly changing with Scotia, TD and BMO revamping their cards. I don't think CIBC is far behind but I think RBC is arrogant enough that they won't feel the need to make changes anytime soon, but I could be wrong there. Also, I think that having 2 cards that add up to $120 AF each can eat a good chunk of money out of your livable budget, so holding the Avion for multiple years may only make sense if you can get the annual fee waived by having multiple RBC products which is the case for me since my effective fee on the Avion is $0 by having their VIP banking package.
During entire video you were talking about traveling. Okay! A travel CC when it's not coming with No Foreign Transaction Conversation Fee (Currently 2.5%) and Lounge Access (Priority Pass) will be useless. You've tried to convince your audience that Cobalt card is a right choice. Based on Simple Math, SCOTIA GOLD AMEX CARD is slightly better choice compared to Cobalt AMEX. SCOTIA PASSPORT VISA INFINITE card is a great choice as well. Both above mentioned cards come with no FX conversion Fee, Great Insurance Packages, and 6 Lounge visits (PP) comes with Visa Passport. Moreover, Annual Fee will be waived at least for one card with an unlimited package checking account. Looking forward to watching upcoming videos. Cheers!
Thanks for your feedback! I'm of the mind that while the 0% FX fee is nice to have, it isn't necessarily better than the ability to earn more valuable points currencies through RBC and Amex, which Scotia doesn't offer through their own points (it's fixed at 1 cent per point). Lounge access will be available through the Amex Platinum or Business Platinum cards too, which I mentioned was more oriented towards frequent travellers. If someone were open to getting a 4th or 5th card, then the Scotia cards would certainly make the cut. But I always appreciate the feedback, and will make an effort to mention a few more edge-cases that may apply to different people in future videos.
Rickey, love your videos. I am a real estate investor, declare very little income but my CC expenditures are more than 100k a year. What kind of strategy would you recommend for someone like me who may not qualify for an AMEX platinum.. I only use Aeroplan at the moment.
The Amex Platinum (or any of the other Amex cards, for that matter) has no minimum income requirement, so you should still qualify! If you used the Business Platinum for example you'd earn at least 125,000 MR points per year (at 1.25x on spending) which you can still transfer to Aeroplan if you want, but can also transfer to a host of other currencies for their flexibility and sweet spots as well.
HSBC World Elite MC would be a great "one card" minimalist solution: 3% on travel/1.5% on everything else, 31 day medical, $49 effective annual fee, no FX fee, MC acceptance.
Nope, the current promotional offer (which has actually been extended to April 30) is only available on the Infinite. The Visa Platinum still earns very valuable RBC Avion points though!
I found that once I started thinking about the insurance policies (such as RBC Avion mobile device insurance or the Amex Platinum 120 purchase protection) it became challenging to weigh whether the points were more valuable or the insurance benefits. What do you do?
Good question. Admittedly I pay less attention to insurance than I probably should, since I heavily value the points & travel. Many people choose to have 1 or 2 cards around just for their insurance benefits though, if they value it (such as the BMO World Elite's travel insurance which applies to award tickets as well as paid tickets). If you're gonna use a card for insurance, make sure you have a fairly long time horizon for keeping the card around, since the card always needs to be active if you're gonna make a claim. I'll try to do a video on the best credit card insurances sometime soon.
@@MaZoukaDance Nope, don't use Manulife. If you put your Aeroplan taxes and fees on your TD or CIBC Aeroplan-branded credit card, then the credit card insurance will apply to the Aeroplan booking too. For other types of redemptions, the BMO World Elite (or the Air Miles version) is your best bet, because you can just charge the taxes and fees of any redemption to that card and the insurance will kick in.
Hello just discover your channel I am a college student and I want to travel. My issue is do I go for student credit card like bmo with no fees and the student benefits or go for rbc one be a sign up bonus but I won’t have the benefit of a student card. When I say benefit I don’t mean cinema but rather stuff like no annual fee, free transfer etc...
You'll probably want to get started with a student card first to build your credit before moving on to the higher-end travel cards (and only if you can justify the annual fees). Some more tips for students can be found here: princeoftravel.com/blog/back-to-school-credit-card-rewards-for-students
I saw people talking about * Cardermanager2* on telegram, I don’t believe it until I tried it and he’s legit and good, got my dumps as fullz immediately bank logs after payment
Remember by using your RBC card at Rexall Drugs you get good bonuses on their point programme. Could be as lucrative as other cards in other categories!
I should've mentioned a MasterCard in the video as well. The MBNA Alaska is the best option f you want to fly business class at a good value; otherwise, I think the HSBC World Elite also offers a solid 1.5% return, and its points can also be transferred to British Airways, Cathay Pacific, and Singapore Airlines too.
Interested in learning all about how to travel the world on points? Join us at The Travel Summit Toronto 2022: The #1 event for elevating your travel! thetravelsummit.com
Yo Rick, Do a new video 2023 portfolio..
You should do an updated version for this for 2023. Cobalt is a given but the other cards could have moved around with some changes in the industry that have happened.
I've literally just binged on 20-30 of our videos and have compilex an extense word document of notes. Thank you so much for all your content. Myself, as a Canadian who wants to get into this game of travelling using points, your channel has been monumental in my learning process. Thank you!
Just moved from US to Canada. Your videos are super helpful for someone trying to switch mindsets and learn all the new best credit card options. Keep up the great work!
Thanks Tyler!
Ricky, the beacon of light on the Avion Visa is brilliant. Love it.
Thanks! It's always my goal to try out new editing techniques with every video, glad you like them 😁😁
I have none of those cards. 😂 Curently using CIBC Aéro gold visa infinite and focusing exclusively on Aeroplan. Also want to start earning in the Marriott Bonvoy court so my next credit cards would be Amex Mariott and Amex Gold. :) That was a very useful video, I will definitely consider RBC Avion once I get more comfortable with my current goals (Aeroplan business trip to Japan with bf). Love your videos Ricky! I get super excited every time there is a new one ! JF from Montreal
Aeroplan is probably the single best program to focus exclusively on. With Amex MR points though, you'll get to transfer to Aeroplan at a 1:1 ratio while earning bigger signup bonuses. Bonvoy points are also important for hotels so you're on the right track :)
Wow, I've been hearing a lot of praise on RBC Avion! Really considering to add it to my collection. Great video Ricky!
Glad I rewatched this.
Me, too! It’s now making even more sense to me with AMEX Cobalt card earning MR points starting August 2021!
Very good video! I have been a "credit card minimalist" but after watching some of your and other youtubers travel hacking videos I'm considering getting more cards. Initially, I college, I signed up for a single RBC Signature Visa where I got the annual fee waved as a student. I upgraded ro the avion after college and now have two other cash back cards. Tangerine Moneyback Mastercard and the American Express simply cash. I like the relative simplicity.
By the way: I really like that you are a Canadian youtuber sharing your expertise on this topic!
Can you refresh this list for current day??? And add a 4 card category 😁 my current plan is…
Amex platinum
Amex cobalt
Cibc aeroplan infinite privilege
It’d be nice if Ricky tried doing this video again for this year
I think this video could use a revamp. Despite the flexibility of the Avion program to transfer points, other banks have come out with much more competitive cards such as the BMO Eclipse Visa Infinite and Scotia Passport Visa Infinite or Scotia Gold Amex with much higher earn rates and no FX fee. RBC seems content to sit on its laurels and unless you can get the Avion Visa Infinite at $0 AF by already being an RBC client and having the VIP banking package, the Avion cards just aren't worth having in your wallet. Now that I think about, almost none of the RBC cards are worth having since the rewards/cashback structure is quite outdated when you compare it with the competition.
Please do a minimalist travel credit portfolio for Americans with 3-4 cards
Costco only takes MC so I’d go 3rd card MC before 2 Amex makes accumulation sense. Stay safe 😊👍🏻
I think you can use Visa online for costco gift cards
great, exactly what i needed as a cobalt and mastercard holder, getting the plat
Would be great to see an updated one and your take on the revamped Scotia+ and aeroplan systems!
I have the Amex Cobalt. Went to refuel at Shell for gas and I earned 5x the points there
Ricky! Love your editing style. You always keep it new and fresh. Can you please do one for the US side also? I know you got lots US fans too! Haha
It's on the cards :)
I would love to see an updated version of this video
when you "cycle" through credit cards, wouldn't cancelling your card affect your credit score?
only a bit, and only for a while. The reason the score drops is because you're utilization increases, but if you've paid off your cards and your utilization isn't high, it wont really matter'
If you watch some of his other videos, he recommends downgrading to a no fee card if possible to park your points and avoid a credit hit.
I must be nuts to have like 4 credit cards for different purposes lol. I use the simplii cashback card for restaurants (4% cashback for restaurants, bars, no annual fee). The BMO cashback card for groceries (3% cashback on groceries, no annual fee) and just recently got the RBC Visa infinite card for gas and everything. Best part is I just add all of my cards on my iPhone Apple Pay so I don’t carry a wallet around with me.
I hadn't really thought about the Cobalt. I have been more into just AP. But since the Rocketman offer I got the RBC Avion. I also have the Biz Edge for the big WB of MRS.
Focusing heavily on Aeroplan is not a bad move at all, but if you're only gonna carry a few cards around, I think the 5x points has an undeniable appeal.
@@PrinceofTravel I got an offer recently for my birthday. But Amazon has so many restrictions now.
The best Mastercard should be included as a 3rd card option. I've occasionally found businesses that will only take ONE of the top 3.
you need to make another video on this topic again!
Costco Canada is ruining visa and AMEX now by only accepting master credit in their warehouse, which forces me use rogers WE the most. LOL
I saw people talking about * Cardermanager2* on telegram, I don’t believe it until I tried it and he’s legit and good, got my dumps as fullz immediately bank logs after payment
Can you make an updated version of this for 2022? Thanks for the great content
Can you make a 2021 version of this video? I currently have the AMEX cobalt card. I was wondering what the best visa/mastercard to get is.
Tbh the Rogers MC Welite is 100% the move. Even the Tangerine WE is worth it. If your looking for cash back nothing beats the Scotia bank momentum 4%
I turn 18 in 11 days. This video really helps
Dude same 😂
You have an exciting future ahead :)
I love your videos! Can you make a video for College students who have part-time jobs and cheaper spending habits? What cards should be the most optimal for those who also want to travel but do not spend nearly as much in their everyday spending habits thanks!
I'll visit this topic one day! For these individuals, it may be in their long-term best interests to figure out how to meet minimum spending requirements creatively :)
Most cards ask for $1500 in the first three months. I would put my rent and my phone bill on these cards. Another big expense is grocery and car insurance
RBC Avion 2.5% FX :( Gotta love travel cards with FX fees.
That's a big weakness that Canadian banks have yet to address properly. Scotiabank has taken the lead on this recently, so hopefully the rest of the Big 5 will follow.
@@PrinceofTravel Unbelievable that even Amex Platinum with 700 AF has FX fee
Whats with minimum income requirements in Canada? You can get amex platinum on the power of a good credit score alone.
Hey man! Do you have an updated version of this 'minimalist credit card portfolio'?
I almost cancel my cobalt card before your video, cuz the cobalt card didn't have that hotel transfer. Thx bro.
That 1:1.2 transfer to Marriott Bonvoy is one of its most valuable uses!
Prince of Travel yes！transfer to Marriott then Alasika airline=1$per 2.5points and 50000points can redeem a business ticket，way faster than aeroplan earning and 75000redeem. You are my hero.
Great breakdowns, Ricky. Thanks for another informative video!
Thanks TMc :)
Thanks Ricky, as. a minimalist, I certainly appreciate the information you share. I recently became a Marriott Vacation Club Owner and you mentioned the Amex Cobalt card points can be converted to Marriott Bonvoy... so it seems. I should look at acquiring that card?
KramdP (Ottawa)
Or the Amex Bonvoy
Like Mike says, the Cobalt card is great for earning Bonvoy points on regular spending (on the 5x categories) but the Bonvoy cards themselves are very good as well.
Can you make a comparison video between the updated Amex cobalt card and the Scotiabank Amex Gold card?
What do you think of combining a high end AmEx with a PC Financial World Elite MC? The Loblaws owned grocery stores are one of the biggest holes in AmEx acceptance and getting 3X points with a no fee card seems like a pretty effecient way to plug that hole. I was emailed a sign-up offer for 125000 points ($125) recently to make this combo even more tempting.
Cobalt+Avian is still a good combo for 2022?
What would you consider to be the best no fee credit card to compliment my Amex Platinum for those instances where they don't accept Amex? I only want to have 2 credit cards. Ideally a mastercard suggestion since that is all they take at Costco.
Are you able to make a video like this in 2022?
Keep the content coming !
Yessir!
Thank you for all that you do!!! Very helpful and informative :)
My pleasure Gail 😊
What is the difference between 2x the points and 2 points? I thought those where the same thing which would mean the Cobalt is the only choice. Unless the cobalt earns a 0.5 point and 2x that is just 1 point? Can someone clarify this for me?
Your combo is lousy. Here's my recommendation for most Canadians:
Slot 1. AmEx Cobalt. Else a 4% grocery VISA. Only skip slot one if doing groceries and gas exclusively at Costco in Canada
Slot 2. CTFS 🔻 WE (roadside assistance, partner stores & gas bars, no AmEx grocery, bill pay). Those who exclusively shop at Costco Canada for grocery and gas can turn to Rogers WE, Brim WE, Collabria MC World
Slot 3. If doing cross-border, then TD Cash VISA. If not, then either Brim MC, or if Brim WE in slot 2, then HomeTrust Preferred for roadside assistance. Or just get CTFS 🔻 WE and Brim WE for slots 2 & 3
Slot 4. Many will throw Simplii VISA for 4% resto. I suggest AmEx BBP for USD travel and online shopping. Both are good picks. Slot four is optional and less minimalistic, but can really give a boost on earning and/or boosting rewards.
I say most Canadians are okay with one CC with annual fee in a keeper deck. Very few have enough organic spend to justify multiple keeper annual fee cards.
Don't know if I would agree with this Joel. I'm not sure what I'd use Canadian Tire money for even if it's 3%. I suppose it depends on your priorities - if travel potential is your goal, you want transferrable points rather than a bunch of cash back equivalent cards.
You're probably right that I should've been more mindful of annual fees in my analysis. The upside to paying annual fees is that they allow you to access the most valuable transferrable points for booking travel, and you'd definitely have to maximize the potential of those points to justify the annual fees.
The CTFS card is probably worth it for its cheap FX possibilities too - but that's a topic for another video.
@@PrinceofTravel ideally, slot one card (for most of us...Cobalt) should sweep up most spend. CTFS 3% grocery to redeem on household stuff (and for some travellers...camping gear) and redemption minimum is 1¢... it's not all bad. Can also be redeemed at SportsCheck and Marks. It's basically to fill a small void. Given that Instacart gives 5x on Cobalt and allows shopping at Loblaws banner stores, I'm able to funnel all grocery on AmEx (perhaps after this pandemic settles) aside ethnic & micro supermarkets, where I'll gladly whip out the CTFS card. Slot two, three and maybe four are really just to fill some voids that can't be met with slot one card, not to compete on rotation which card gets to pick up the most spend for a while. Most of my spend on CTFS is primarily utility bills, anyway. For the volume, fee and rewards structure, etc. I can't justify the AmEx+Plastiq setup in lieu of CTFS for now. I think this speaks for most Canadian consumers.
I think my proposed combo is a better fit for most people (minimize annual fees, still maximize net rewards, still travel, still enjoy discounts, etc.). For your proposed combo to work...
1. Justify Cobalt (I proposed alternatives...4% cashback VISA cards for anyone who can't justify AmEx as lead card)
2. Have heavy no-AmEx (but yes VISA) non-grocery spend to go on the RBC Avion Infinite (since 1 pt/$1 spent on Avion is arguably no better than 1 MR select on Cobalt per $1 spent uncategorized) and obviously minimum redemption will be quite high to get anything north of 1cpp on Avion
3. AmEx Plat or AmEx Gold...they're great cards...but for heavy spenders
4. What's annual spend going to look like to justify this combo? Min $50k/yr? $100k? You'd probably need min $20k/yr in AmEx friendly grocery and resto just to justify the Cobalt (for most people anyway, versus a 4% grocery VISA which is no hassle to get that annual cashback statement credit), but hey that's fine I still recommend Cobalt as a lead card for most people. RBC Avion? How much spend should land there to justify the card? $20k/yr to get 20k pts? Won't have much of an impact. AmEx Plat or Gold? Aside signup bonuses, spend would have to be mighty high here to justify the annual fee.
Are those CAD Platinum cards that you have? I compared it with USD and USD card is worth going through every cross border trouble to get it.
There's definitely significant value to be had in getting US cards - and it's something I highly recommend for Canadians!
@@PrinceofTravel How do you make use of the Uber and Saks Crefit though?
@@ishangodboleee When I'm travelling in the States.
Great video! Super informative! Does this still apply today or is there an update? Thanks in advance. 🙏
I think it still applies today, especially with AMEX Cobalt card starts earning earl MR points that can be transferred to airlines in August 2021. Ricky also did a video comparing the AMEX Platinum vs AMEX Aeroplane Reserve card if you can’t decide which one of the high end AMEX to get as your 3rd card.
Man so many businesses so little time during COVID
As a fintech disruptor bringing fully integrated delivery solutions to consumers, I must state it's a good thing to have multiple platforms and products from issuers with which to execute my continued transactions through these troubling times. Better make sure my portfolio of cards are paid and ensure my insurances are in order!
Maybe if you were to do the video again… HSBC WE might make the cut.
Nice content, but may want to address that only the AMEX business platinum is $499 annually while the personal platinum is $699 annually.
Ivan Kong He clarifies its “net” annual fee - the Personal Platinum has a $200 travel credit.
As Rachel said -- $499 net annual fee for the Platinum based on the $699 minus the $200 annual travel credit.
Does Canadian Amex Platinum give PP and the hotel statuses as per your site? I can’t find any info on it on Amex’s own site
Yes: Unlimited Priority Pass, Marriott Gold, Hilton Gold, Radisson Gold, and Shangri-La Jade (until March 31, 2021).
Would you still recommend that RBC card over the revamped TD aeroplan visa infinite?
I've had the Avion Visa Infinite for 3 years and I just got the Amex Cobalt a month ago. Having already accumulated 10k points with SUB on the AMEX (around 7.5k without), I can tell you that it's taken me much longer to accumulate 7k points on my Avion card because the earn rate is 1:1. When I worked it out based on my spending, it would take me one year of spending on the AMEX card without SUB to accumulate enough MRS points using the 5x category for one flight to Mexico per year. On my Avion card, to accumulate enough points for the same flight would take 4 years without SUB. The current SUB for the Avion card might be worth it if you plan to transfer the points to one of their airline partners though, so weigh that into your decision on whether or not to sign up, but I don't believe year 2 value won't be there. Truthfully, I've been thinking about cancelling the Avion card and applying for the Scotia Passport Visa Infinite because the perks are better for what I want out of the card. I just don't think RBC's cards are staying competitive as the credit card landscape is rapidly changing with Scotia, TD and BMO revamping their cards. I don't think CIBC is far behind but I think RBC is arrogant enough that they won't feel the need to make changes anytime soon, but I could be wrong there. Also, I think that having 2 cards that add up to $120 AF each can eat a good chunk of money out of your livable budget, so holding the Avion for multiple years may only make sense if you can get the annual fee waived by having multiple RBC products which is the case for me since my effective fee on the Avion is $0 by having their VIP banking package.
what about scotiabank amex credit card?
During entire video you were talking about traveling. Okay! A travel CC when it's not coming with No Foreign Transaction Conversation Fee (Currently 2.5%) and Lounge Access (Priority Pass) will be useless.
You've tried to convince your audience that Cobalt card is a right choice. Based on Simple Math, SCOTIA GOLD AMEX CARD is slightly better choice compared to Cobalt AMEX. SCOTIA PASSPORT VISA INFINITE card is a great choice as well. Both above mentioned cards come with no FX conversion Fee, Great Insurance Packages, and 6 Lounge visits (PP) comes with Visa Passport. Moreover, Annual Fee will be waived at least for one card with an unlimited package checking account.
Looking forward to watching upcoming videos. Cheers!
Thanks for your feedback! I'm of the mind that while the 0% FX fee is nice to have, it isn't necessarily better than the ability to earn more valuable points currencies through RBC and Amex, which Scotia doesn't offer through their own points (it's fixed at 1 cent per point). Lounge access will be available through the Amex Platinum or Business Platinum cards too, which I mentioned was more oriented towards frequent travellers.
If someone were open to getting a 4th or 5th card, then the Scotia cards would certainly make the cut. But I always appreciate the feedback, and will make an effort to mention a few more edge-cases that may apply to different people in future videos.
Rickey, love your videos. I am a real estate investor, declare very little income but my CC expenditures are more than 100k a year. What kind of strategy would you recommend for someone like me who may not qualify for an AMEX platinum.. I only use Aeroplan at the moment.
The Amex Platinum (or any of the other Amex cards, for that matter) has no minimum income requirement, so you should still qualify! If you used the Business Platinum for example you'd earn at least 125,000 MR points per year (at 1.25x on spending) which you can still transfer to Aeroplan if you want, but can also transfer to a host of other currencies for their flexibility and sweet spots as well.
@@PrinceofTravel Thanks for the tip. Will give it a try and let you know. Stay safe.
HSBC World Elite MC would be a great "one card" minimalist solution: 3% on travel/1.5% on everything else, 31 day medical, $49 effective annual fee, no FX fee, MC acceptance.
Wow, Canadian AMEX cards are so much different from American ones
It's why we Canadians get the best of both worlds :)
@@PrinceofTravel does the Chase 5/24 rule affect your applications for US credit cards? I noticed you didn't have any UR point earning cards.
@@getsugatenshoFTW We dont have Chase.
@@ishangodboleee ik, but Canadians can access Chase cards via a mailing service that Ricky mentioned in a previous video
@@getsugatenshoFTW I'd imagine 5/24 rule would apply to our applications as well
Does RBC Avion Visa Platinum offer 35,000 pts?
I think I'm only qualify for Platinum for income requirements.
Nope, the current promotional offer (which has actually been extended to April 30) is only available on the Infinite. The Visa Platinum still earns very valuable RBC Avion points though!
If one has a cobalt and racks up points , can they transfer all those points to a platinum card later on?
Nope, you can't merge MR Select points into MR points - only the other way around, but that might be a bit of a waste.
Instant like.
I found that once I started thinking about the insurance policies (such as RBC Avion mobile device insurance or the Amex Platinum 120 purchase protection) it became challenging to weigh whether the points were more valuable or the insurance benefits. What do you do?
Good question. Admittedly I pay less attention to insurance than I probably should, since I heavily value the points & travel. Many people choose to have 1 or 2 cards around just for their insurance benefits though, if they value it (such as the BMO World Elite's travel insurance which applies to award tickets as well as paid tickets).
If you're gonna use a card for insurance, make sure you have a fairly long time horizon for keeping the card around, since the card always needs to be active if you're gonna make a claim.
I'll try to do a video on the best credit card insurances sometime soon.
Prince of Travel so how do you take care of your insurance? Aeroplan pushes for manulife.. though I’ve never tried them.
@@MaZoukaDance Nope, don't use Manulife. If you put your Aeroplan taxes and fees on your TD or CIBC Aeroplan-branded credit card, then the credit card insurance will apply to the Aeroplan booking too. For other types of redemptions, the BMO World Elite (or the Air Miles version) is your best bet, because you can just charge the taxes and fees of any redemption to that card and the insurance will kick in.
Prince of Travel gotcha thank you ☺️ so I’m guessing then that you hold onto the BMO Air Miles and TD Aeroplan as keeper cards?
Hello just discover your channel I am a college student and I want to travel. My issue is do I go for student credit card like bmo with no fees and the student benefits or go for rbc one be a sign up bonus but I won’t have the benefit of a student card. When I say benefit I don’t mean cinema but rather stuff like no annual fee, free transfer etc...
You'll probably want to get started with a student card first to build your credit before moving on to the higher-end travel cards (and only if you can justify the annual fees). Some more tips for students can be found here: princeoftravel.com/blog/back-to-school-credit-card-rewards-for-students
Prince of Travel thank you so much
Which type of bank account do you have with RBC for the Visa Avion?
I've got a business bank account with them, but you don't need a bank account to sign up for one of their credit cards.
Can you transfer Amex points from Platinum to Cobalt?
Yessir!
Are any of them metallic or are they all plastic.
I saw people talking about * Cardermanager2* on telegram, I don’t believe it until I tried it and he’s legit and good, got my dumps as fullz immediately bank logs after payment
Remember by using your RBC card at Rexall Drugs you get good bonuses on their point programme. Could be as lucrative as other cards in other categories!
does the points on these cards expire at the end of the year?
Not if you continue to hold the card. If you must cancel, transfer out the points to a partner program first before cancelling.
I have all those cards 👍🏻. What would be the best earning Mastercard for places like Costco?
Brogatta MBNA Alaska
I should've mentioned a MasterCard in the video as well. The MBNA Alaska is the best option f you want to fly business class at a good value; otherwise, I think the HSBC World Elite also offers a solid 1.5% return, and its points can also be transferred to British Airways, Cathay Pacific, and Singapore Airlines too.
Prince of Travel Thanks!
The fee for the AMEX Platinum is $699 BTW. In Canada.
$499 when netted against the $200 travel credit
Okay cool now I just need to figure out how to get 200k income 😂
as a 3rd card, why not a no AF card like Brim MC
13:14 For AMEX and RBC, does card switching allow you to collect the sign up bonuses?
Amex no, RBC yes.
Nice hickey lol
video starts at 2:03