(Assume you have excellent credit ; can get any card you want) What is the best Visa card to have, as of now?

Question

My question refers to "Visa" credit cards that give special rewards and/or other benefits to thier cardholders/users.

Answer 1

The following website has a list of Canadian credit cards that have reward programs, but unfortunately doesn't let you get only Visa cards that have reward programs:

http://www.canadacreditcentral.com/

Personally, I would recommend The GM Card from TD.  It gives 3% cash back on all purchases, but that 3% cash back can only be used towards the purchase of a GM vehicle.

You can see more information on it here:

http://www.canadacreditcentral.com/viewc...

If you don't like GM vehicles, the CIBC Dividend Platinum card gives 2% cash back on all purchases:

http://www.canadacreditcentral.com/viewc...

Answer 2

Visa debit cards work great! One thing I've learned about credit cards (ALL) is that they are a lot like snakes and sharks... the longer you play with them, the more likely you are to get bit!

Your best bet is to not use one. Don't get suckered in to the points, merchandise, miles, money back gimmicks that they use to get you to use their cards. Studies have shown that people don't use the miles, the amount of money you get back couldn't buy a Happy Meal, and the amount of stuff you have to buy to get something free is so huge that you would have been better off just buying it out right.

Another thing... When you pay cash, you can "feel" the money leaving you. This is not true with credit cards. Flipping a credit card up on a counter registers nothing emotionally. If you use credit cards instead of cash you will spend 12-18% more. This is money you could have saved.

Personal finance is 80% behavior. You need to cut out habits that make you spend more. You do not build wealth with credit cards. Use common sense. When you play with a multi-billion dollar industry and you think you're going to win at their game, you are naive. You cannot beat the credit card companies.

Edit: Sorry I really didn't answer your question directly. I do not recommend ANY credit cards! A common misconception about debit cards is that they do not offer the same protection as a credit card. If you hold a debit card from a well-known name like Visa or MasterCard, it will have the same policy about unauthorized charges that credit cards have. It is required by law that the same protection is given.

Hope that helps...debt free is the way to be!

Edit:  Do you really think that credit card companies in other countries are different?  Debt is a universal problem.  Rewards on credit cards in any country are a GIMMICK!  They are not going to give you something for nothing.  They give you those "rewards" to make money off of you, not because they like you or want to help you out!  They are ALL blood sucking parasites.

I hope I wasn't unclear on my view of credit cards. lol ; )