For some points and miles aficionados it’s all about earning as many points and miles as possible. In reality that's the case for most of us but for some they really want to only focus on the earn. All they care about is how they are rewarded for their day to day spending on cards and all the other benefits like insurance, business class lounge access, price protection don’t really matter.
The question then that needs to be asked is "What are the credit cards to look at to strictly maximize the amount of points and miles you earn on your spending?" We have the answer to that!
Here are Rewards Canada’a top 5 picks for just that - earning points and miles - we don’t look at anything else that these cards offer and for some of them there are a lot of other benefits but who cares about that when all you are concerned about is earning the most bang for your buck!
5 points per dollar on eats and drinks, 3 points per dollar on select streaming services, 2 points per dollar travel, transit and gas, 1 point per dollar on all else
Potential Return:
5% - 5 points per dollar translates to a 5% return when redeeming for Use Points for Purchases for Travel
6%+ - 5 points per dollar converted to Air Canada, British Airways, Marriott Bonvoy
Best for:
Restaurants, Coffee shops, Bars, Grocery, other dining, Transit and Ride Sharing
5 points per dollar on Marriott purchases and 2 points per dollar on all other spending
Potential return:
2.0%+ - 2 points per dollar translates to a 2.0% return or higher when redeeming for free nights at Marriott Hotels
5.0%+ - 5 points per dollar translates to a 5% return or higher when redeeming for free nights at Marriott Hotels
Best for:
All purchases that other cards do not have a higher category earn rate or for those stays at Marriott Hotels
Annual Fee: $120
American Express Gold Rewards Card
2 points per dollar on gas, groceries, drug store and travel, 1 point per dollar on all else
Potential return:
2% - 2 points per dollar translates to a 2% return when redeeming for Use Points for Purchases Travel
3%+ - 2 points per dollar coverts to Aeroplan and British Airways Executive Club at a 1:1 ratio - Aeroplan Miles and British Airways Avios are valued at a minimum of 1.5 cents each
Potential return:
2% - 2 points per dollar translates to a 2% return when redeeming for travel only
Best for:
All purchases that other cards do not have a higher category earn rate
or for merchants that don't accept Amex
Annual Fee: $120
The earn rates listed above are everyday earn rates. These are not limited time offers or introductory offers that you may see on some cards. They are the most rewarding cards on a long term, day to day basis. As you can see the ranking is Amex heavy and this is indicative of just how rewarding American Express cards are. They always have been leaders on the earn side, partially due to the fact they can charge merchants more on the interchange rate but it is also about being competitive.
This chart will be updated on an ongoing basis when cards come and go, cards change or any other circumstances that could modify this ranking. You are encouraged to bookmark it and come back often to see if you can earn even more points and miles!
Talk to us!
What do you think of this list? Did we miss a card that provides a better return than these five? Do you have a combination of these cards that you use to maximize you earn? Tell us in the comments section below or on Facebook and Twitter to join the conversation
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