Given that it’s been almost 9 months since I created the first iteration of the credit card comparison graph, I’ve deemed it time for an update. Here are the highlights of what’s been happening in the land of Canadian credit cards since March:
- RBC: Removed welcome point bonuses on Rewards Gold and Rewards Classic cards; removed renewal bonus on both Avion cards; Mike Weir card is no longer offered.
- BMO: Abolished Mosaik brand on MasterCards; removed the ability to have (and pay for) both cash back and Air Miles options on your card; many other changes to card offerings. The No Fee Air Miles card now gives twice as many Air Miles (1/$20 instead of 1/$40). The Gold Air Miles card gives the holder a 25% discount on Air Miles redemptions, making Air Miles 1/3 more valuable and the Gold card look pretty promising for Air Miles collectors. Added student cards, which are the same as the no fee Air Miles or cash back cards, but with additional Student Price Card benefits.
- TD: No changes whatsoever.
- CIBC: Interest rate on Classic Visa and Platinum Visa increased from 18.5% to 19.5% to bring them in line with the rest of their cards. Added Dividend Infinte Visa, which provides the same cashback tiers as the Dividend Platinum and has the same annual fee.
- ScotiaBank: No changes whatsoever.
I’ve updated the graph with the latest set of cards from the Big Five banks. I also removed the student cards to reduce clutter – if you, my loyal reader(s), want them back, let me know and I can re-add them.
The link in my original post will now display the updated graph, as will clicking on the image in this post.
Brendan Tansey 