Can.Tire CASH ADVANTAGE MC is going to the dogs!

[Jexy]

Today I got a letter from Canadian Tire Bank to inform me that my 3% Cashback MC will no longer offer a 3 % cashback and is converting it to the following tier.

$0-249.99 =0.25% Cashback (not worth the trouble!)
$250-999.99 = 0.5% cashback (not worth it either)
$1000+ =1% cashback.... with this kind of restriction I think I will take my business elsewhere!

I know many of you poor souls on RDF have also got this card. If you are as dissapointed about this deal change which we did not sign up for, I hope you voice your disagreement to Canadian Tire Bank and let them know that this is a poor deal and not worth it to an educated consumer who knows of better deals out there:mad:

I certainly hope you will all voice it to CT. I for one thing.. certainly WILL!:mad: :mad: :mad: :mad: ....:evil: :evil: ...:twisted:

[gman]

It was kind of expected since day 1. The question was just when.

[Firestorm ZERO]

Yeah just got the letter too :(

How about the plantium people? Also getting a reduce rate?

[gman]

Yeah just got the letter too :(

How about the plantium people? Also getting a reduce rate?

Yes. Also drop to 1%.

[jerryhung]

REPOST :)

5% is getting cut too

[SuperCM]

$0-249.99 =0.25% Cashback (not worth the trouble!)
$250-999.99 = 0.5% cashback (not worth it either)
$1000+ =1% cashback.... with this kind of restriction I think I will take my business elsewhere!

Those tiers look a lot better than CIBC's Dividend Visa where to get 1% you need to surpass $3500.

[Firestorm ZERO]

So what is the advantage of the Platinum line now if it is also 1%?

[gman]

So what is the advantage of the Platinum line now if it is also 1%?

Other features that non Platinum does not have.

[Dynomite2910]

So what is the advantage of the Platinum line now if it is also 1%?

There will be no Platinum card anymore....

Quote from my letter....

"In addition, the inclusive insurance benefits on the card will be discontinued effective June 9, 2007. As a result, the platinum card will be discontinued and we will be replacing your card with our no annual fee Cash Advantage MC in mid-May provided your account is in good standing."

And elsewhere...

"No Annual Fee - we are going to pro-rate and give you credit for your previous $99 annual fee, if applicable. This credit will appear on your June statment"

The death of this card is sad news indeed - glad to have gotten ~$2K out of them in under year at least !

need to pick the next best option now....
d!

[Jexy]

Personally I think I will be switching to a different card. This one is just not worth the bother anymore.

Shame. It was a good card.

Also... please keep this debacle in mind when contemplating their bank account! I sense another bait and switch!:!: ;) :!:

[boyoflondon]

How about the normal Canadian Tire Options card? I now have 1% cashback regardless of how much I spend ...

[max88]

Anyone shopped at Canadian Tire recently? I think it pays 3% CT cashback for cash purchase.:twisted:

[BBJAP]

So what's the consensus pick for the replacement card???

STARWOOD?
BMO WESTJET?
SOME type of airline card?

who ever has the best plan's going to see a big BUMP in business

[gman]

How about the normal Canadian Tire Options card? I now have 1% cashback regardless of how much I spend ...

No. You get 1% if you spend >= $1000 in that month.

[gman]

Anyone shopped at Canadian Tire recently? I think it pays 3% CT cashback for cash purchase.:twisted:

Cash purchase does not give you cash back. Do you mean CT money? I don't think you get 3% CT money either.

[max88]

Personally I would steer clear of "points" cards ("points" can easily be inflated), and stick with another cashback card... and pay cash if you shop at Canadian Tire.

[max88]

Cash purchase does not give you cash back. Do you mean CT money? I don't think you get 3% CT money either.

Yeah I mean CT money. The last time I paid cash at CT was a few years ago I think I got 3%.

[gman]

Personally I would steer clear of "points" cards ("points" can easily be inflated), and stick with another cashback card... and pay cash if you shop at Canadian Tire.

You don't pay cash if you shop in Canadian Tire.
You use your 'best' credit card to buy gift card and then use that to shop in Canadian Tire.

Anyway, CT stuff is less and less attractive. They cut their CT money reward in Gas. Now, they cut reward of this credit card.

[max88]

Very true and that's market forces at work both at micro and macro scale. Cashback and other rewards cards help gain market share but they are costly to maintain. As soon as the rewards are reduced we run for the exit like there is a bomb in the building.

[bellboy26]

1% reward on a free card isn't bad. Do you still get an extra bonus at CT and CT gas bars? If so I may keep using the card.

and ya, this day was bound to happen.

[gman]

1% reward on a free card isn't bad. Do you still get an extra bonus at CT and CT gas bars? If so I may keep using the card.

and ya, this day was bound to happen.

You don't get 1% unless you spend over $1000 in that month.
Spending in CT and its gas bar is considered as double value. That is spending $500 in CT means $1000 in counting how much you spend on the card.

[rheostaticsfan]

Yeah I"ll likely cancel. Probably back to my CIBC Dividends Platinum. Tiered rewards up to 2% for up to 50K annual spending. My PC mastercard with 1% rebate at Loblaws is my backup card.

I looked at the article comparing cards but it seems to be rather out of date. Does anyone know a card offering 2% or better rewards? I'm most interested in cash back, or groceries at a Loblaws affiliate. I might consider aeroplan or non-airline specific air travel. I might consider hotels. No other rewards really suit me that I can think of. Well, maybe HBC points.

[Smoothie]

Wow, I guess it was too good to be true! I've had my CT Cash Advantage card since it was introduced and have been loving the cash back.

As others have stated, whats the next best one out there? The card comparison site seems to be a bit out of date.

[jmalias]

No longer can I triple dip.
CT MC purchase Athome GC, buy gas = 3%+20%+2%=25% off gas:D

But I will buy a few hundred extra CT GC's at the beginning of May to get the 6% as a last huuuuuuurah:twisted:

I guess I will switch back to Citibank Driver's Edge Mastercard , back to saving 2% towards my next used motorcycle\ATV purchase. :idea:

Unless someone has a better idea??

[majesus]

No longer can I triple dip.
CT MC purchase Athome GC, buy gas = 3%+20%+2%=25% off gas:D

But I will buy a few hundred extra CT GC's at the beginning of May to get the 6% as a last huuuuuuurah:twisted:

I guess I will switch back to Citibank Driver's Edge Mastercard , back to saving 2% towards my next used motorcycle\ATV purchase. :idea:

Unless someone has a better idea??

TOO late, the GC has also been discontinued from MW. I was in the same boat as you. 25% off gas was awesome while it lasted...

[joflynn]

No longer can I triple dip.
CT MC purchase Athome GC, buy gas = 3%+20%+2%=25% off gas:D

But I will buy a few hundred extra CT GC's at the beginning of May to get the 6% as a last huuuuuuurah:twisted:

I guess I will switch back to Citibank Driver's Edge Mastercard , back to saving 2% towards my next used motorcycle\ATV purchase. :idea:

Unless someone has a better idea??

Drivers Edge Platinum Card @ 2% if you plan on buying a vehicle in the near future (5 year roll-over period, max $1,000 per year for 5 years ($50k in spending), platinum features) or a Capital One No Hassle Rewards (1% non-tiered, no fee, no limit, platinum features, paid back on request to your credit card account or via cheque once you hit $15 or more). If you like Starbucks, RBC Starbucks Duetto VISA 1% back for use at Starbucks, no fee, $10 starting bonus, 3% when you reload Duetto points, occasional promotional certificates.

[iExcel]

Drivers Edge Card @ 2% if you plan on buying a vehicle in the near future (7 year roll-over period) Just checked citibank web site, the cash rebates expire five years from the end of the calendar year in which they were earned.

[madknife]

I know many of you poor souls on RDF have also got this card

what's RDF ? :P

[malbadon]

Well that's saddening but at least we were able to use it for our kitchen remodelling before they lower it. Wasn't going to be getting much back per month after that anyway.

[Jexy]

Wow, I guess it was too good to be true! I've had my CT Cash Advantage card since it was introduced and have been loving the cash back.

As others have stated, whats the next best one out there? The card comparison site seems to be a bit out of date.

:idea: maybe someone keen and in the know would be willing to write a review on cashback credits cards only??:)

[Jexy]

what's RDF ? :P

:blush: new and slightly dislexic... please forgive :)

[Prospero]

:idea: maybe someone keen and in the know would be willing to write a review on cashback credits cards only??:)

There is not much to compare these days, I think. Cashback cards are pretty non-competitive in Canada at the moment, with Capital One's card probably being tops since it is just a straight 1% with no cap on payouts. PC Mastercard is also not bad provided you shop at the right stores for your groceries, and a few of the gas cards out there can give decent returns if you spend enough and actually buy gas. But didn't Ultramar slash its cashback payout recently as well?

Personally, I now use a TD Gold Elite with no-fee, 1% no-cap cashback, an excellent Gold Card insurance package, and best of all free TD Deluxe Auto Club membership. The extras of this card beyond the 1% cashback make it fantastic value, provided that you can get it without a fee (either through Select Service or by being a good enough customer or by being a very smooth talker.) Currently TD is offering 2% cashback up to the end of July for new applicants. If obtained without an annual fee, I'd vote for this card (during its 2% phase) as the top cashback card right now.

[vanriver]

I got my letter yesterday. Stupid Crappy Tire!

I think I'm going to "Streamline" my spending at their stores too. Like no $$ at all any more.

But I'm not bitter.:cry:

[ynchu]

Personally, I now use a TD Gold Elite with no-fee, 1% no-cap cashback, an excellent Gold Card insurance package, and best of all free TD Deluxe Auto Club membership. The extras of this card beyond the 1% cashback make it fantastic value, provided that you can get it without a fee (either through Select Service or by being a good enough customer or by being a very smooth talker.) Currently TD is offering 2% cashback up to the end of July for new applicants. If obtained without an annual fee, I'd vote for this card (during its 2% phase) as the top cashback card right now.

Doesn't Gold Elite cost you $99 annually?

[tkyoshi]

Doesn't Gold Elite cost you $99 annually?

It's not a bad deal if you already use their select service account (the annual fee is then waived).

[doberman_baby]

I got my letter yesterday. Stupid Crappy Tire!

I think I'm going to "Streamline" my spending at their stores too. Like no $$ at all any more.

But I'm not bitter.:cry:

RFDers will just move to a better deal. I read in other threads about the CITI M/C which pays 1% WITHOUT tier system (though the limit on reward is $250 per year).

[recordman]

Citi Petropoints MC pays 1% on any amount, plus (at least in BC) you get an extra 2c off at the PetroCan station. You also get PetroPoints too of course. So, for $1/L, you pay $0.98/L at the pump, you get a cash back of $0.0098, and 9 PetroPoints (about ~$0.01). Effectively, you're paying about $0.96/L.

RFDers will just move to a better deal. I read in other threads about the CITI M/C which pays 1% WITHOUT tier system (though the limit on reward is $250 per year).

[bellboy26]

Cash Advantage still might be the best free card out there. If you hit $1000 every month and buy all your gas at CT gas bars.