Best merchandise cards 2012

Want to collect points that you can redeem for electronics, groceries and gift cards? Here we tell you which credit cards will get you the most merchandise for free.

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by MoneySense staff
October 3rd, 2012

From the September/October 2012 issue of the magazine.

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If you redeem your credit card rewards for merchandise, your rate of return tends to be lower than you’d get for cash back or travel. But, it’s a good option for people who don’t want to wait years to accumulate enough points for a flight. Buying from credit card merchandise catalogues is also a good way to get a head start on your Christmas shopping.

To find the card that best matches your spending and re-payment patterns, try our Credit Card Selector Tool.

In the meantime, here’s our list of cards that provide the highest rates of return if you’re redeeming for merchandise:

1.


Capital One
Aspire Travel World MasterCard
Annual Fee: $120
Current Interest Rate: 19.8%
Card Details:Requires personal income of $60,000 or household income of $100,000; includes travel medical insurance.

2.


President’s Choice Financial
President’s Choice Financial MasterCard
Annual Fee: $0
Current Interest Rate: 19.77%
Card Details: Includes extended warranty and purchase assurance.

3.


Scotiabank
ScotiaGold Passport VISA
Annual Fee: $110
Current Interest Rate: 19.99%
Card Details: Includes rental car discounts, travel insurance, trip cancellation and interruption insurance.

4.


Canadian Tire
Options MasterCard
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Earns extra rewards at Canadian Tire stores.

5.


MBNA
Rewards MasterCard
Annual Fee: $0
Current Interest Rate: 19.8%
Card Details: Includes extended warranty.

6.


Capital One
Aspire Travel Platinum MasterCard
Annual Fee: $0
Current Interest Rate: 19.8%
Card Details: Includes travel and car rental insurance, extended warranty, purchase protection.

7.


CIBC
Petro-Points MasterCard
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes Petro-Canada fuel discounts.

8.


Scotiabank
Scene VISA
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes rental car discounts, discounts at Cineplex Entertainment theatres.

How much merchandise can you get from your card?

Here we show you the true value of your rewards if you redeem them for merchandise, based on your monthly spending.

Learn how we crunched the numbers for Canada’s Best Credit Cards 2012 by reading our methodology.

Merchandise cards not your thing? Check out our Best cash-back cards 2012Best travel cards 2012, Best low-rate cards 2012, Best student cards 2012 and Best small business cards 2012 lists instead.

4 comments on “Best merchandise cards 2012

  1. CIBC's Drivers Edge Platinum gives you 2% back towards the purchase OR lease of any new OR used vehicle. Doesn't even need to be a car – just any insurable vehicle (I bought a motorcycle with it). On your graph, with $4k spent monthly it would put your Annualized Cash Value at $960 (about 50% better than the Capital One card).

    Reply

    • Jonathan, thanks for saying it; this no-fee card has saved me thousands over the years. That it was NOT at the top of the list was an oversight. Any model, new or used, ca-ching!

      Reply

  2. Just be sure to get the best bonus offer when signing up!

    Reply

  3. I agree with Jonathan. My Driver's Edge card has already paid me over $8200 in rebates over the last nine years (based on average monthly spending of around $3600) and that was with no annual fee. It's a great card for anyone who plans to buy a vehicle (new or used) sometime in the future. However, CIBC is planning to charge a $59 annual fee on this card starting in 2013.

    Reply

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