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Wed, Nov 22nd, 2017, 12:29 PM #31
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As a caveat for anyone who might want to consider getting a card that has an annual fee, remember that it's much more important to look at the incremental savings than at the total cashback amount. As a simplified example, if I pay $100 and get $150 cashback, I realise a $50 gain. But if I can get $75 back on the exact same mix of purchases by using a no-fee card even though it has a lower cashback %, I come out $75 ahead.
Of course, we can substitute different numbers so that the fee card produces the greater net gain. The key point is that each person should consider which type of (fee or no-fee) and which specific card will provide the most net savings based on his or her particular spending amounts / pattern.
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Wed, Nov 22nd, 2017, 12:56 PM #32
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Got the e-mail yesterday. Responded and told them- No. But also make some suggestions on how to promote the PC points program that might work for them. For example, back in the day, they had 2X, 3X or even 10X PC points on President’s Choice products. The points turned out to be a good thing at the time. I remember then offering bonus points for buying their recycled bags or bins. Hope they rethink this pilot. Not too impressed.
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Wed, Nov 22nd, 2017, 04:44 PM #33
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Wed, Nov 22nd, 2017, 08:31 PM #34
paying for loyalty??? call me selfish, but no thanks
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Thu, Nov 23rd, 2017, 12:00 PM #35
Too expensive for a loyalty program
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Thu, Nov 23rd, 2017, 12:23 PM #36
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If your decision is only for this particular program and is based on having considered the amount you'd save vs. the cost, that's selfish - and not in a bad way. If you're arbitrarily saying you won't pay for any similar program regardless of the costs and benefits, that's potentially being counter-productive.
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Thu, Nov 23rd, 2017, 04:33 PM #37
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Mon, Nov 27th, 2017, 06:12 AM #38
- Join Date
- Jan 2009
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- anywhere along southern NB
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True that. I certainly buy enough gas to make the $100/yr card worth while. but if you're the type who is only JUST eking by getting that 4% card to pay for itself, it's worth re-considering. While on paper it SEEMS worth it (a break-even is better than losing, to be sure)...
$2500 purchases/yr @ 4% = $100 reward - $100 fee = $0 (break even)
$2500 purchases/yr @ 1% = $ 25 reward - $0 fee = $25 (gain) **
Arjon is right that the no-fee 1% card versus the $100 4% card is still better in that case because you're at least putting SOME cash in your pocket than nothing.
However, if you (like myself) purchase a LARGE amount of the high-reward purchases (and you'd need to do your own math) the 4% CAN quickly work out to be more beneficial.
A 4% card (at $100) versus a 1% card ($0) compare out that you need to spend about 34% more than the break-even point of the 4% for the two cards to equate their reward.
$3350 purchases/yr @ 4% = $134 reward - $100 fee = $34 (gain)*
$3350 purchases/yr @ 1% = $33.50 reward - $0 fee = $33.50 (gain)
At that point, any purchase over $3350 (in the same year/cycle) that gains a 4% reward is gravy because you've now surpassed the reward of your no-fee card on the same purchases.
Of course, we can substitute different numbers so that the fee card produces the greater net gain. The key point is that each person should consider which type of (fee or no-fee) and which specific card will provide the most net savings based on his or her particular spending amounts / pattern.
(For those of you who were interested in the math... I just did this for friend of mine who was reading this post and couldnt figure how to compare the two cards to determine the equilibrium -- so I figured I'd share the data -- but your card(s) reward(s) may be different.)
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Tue, Nov 28th, 2017, 07:50 AM #39
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also a Big NO for me on paying Loblaws $99 for a few "perks" to PCOptimum program. I'll stick with the basics, based on the examples given above.
Re Momentum Visa card... very interesting, especially the GROCERY 4% part. Could someone who has this card expand on that a bit. RCSS was mentioned... what about Sobeys, Zehrs, SDM, NoFrills, etc ? for the average family of 4, I would think $10,000 annually on groceries at least?
That's $400 Cashback right there, if I understand it correctly. thanks
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Tue, Nov 28th, 2017, 09:10 AM #40Built Bars 15% off sitewide, free shipping when you spend $25. User the code LOUISE2020 to get another 10%
PC Insiders please use my code LR1507 you get $25 and I get $10 in points
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Thu, Nov 30th, 2017, 11:28 AM #41
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Basically any store that's primary business classification is groceries... (speaking from my experience, includes the following)
RCSS & ACSS, Sobeys, No Frills, all yes...
IGA, Foodland, Loblaws, Safe-way, all yes...
Zehrs - I think so, but we dont have those here in NB
I would question where Bulk Barn falls here.
The following I can speak from experience are NOT classified as grocery, regardless if they have a grocery dept:
Shoppers - no they're a drugstore
Lawton's - no also a drugstore
Walmart - no, they're a dept/discount store
Additonally: I've also used the card at merchants in the US and both grocery and gas are classified correctly there as well and count toward my 4% reward.
From the leaglese fine print of the card terms: You will earn 4% cash back on the first $25,000 you spend annually at gas stations and grocery stores. 4% cash back applies at merchants which are classified in the Visa Inc. (Visa) network as Grocery Stores & Supermarkets, Service Stations (with or without ancillary services), and Automated Fuel Dispensers (Merchant Codes: 5411, 5541 & 5542). Some merchants may sell these products/services or are separate merchants who are located on the premises of these merchants, but are classified by Visa in another manner, in which case this added benefit would not apply.Last edited by bhlombardy; Thu, Nov 30th, 2017 at 11:31 AM.
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Thu, Nov 30th, 2017, 12:44 PM #42
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I still prefer my tangerine MasterCard....2% on three categories and .5% for the rest, no annual fee and the amount earned goes into my bank account each month. Unfortunately I would not qualify for the income requirements for the 4% back and have a deep adversion to paying service fees for anything.
Curious to know how many have signed up for this reward? I think it's another cash cow for the chain, just like the 5cent fee for bags that are thinner and can't be reused because they tear easily.
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Thu, Nov 30th, 2017, 12:47 PM #43
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First I got an email and today I got mail from them about this. I noticed it is $9.99 a month or $99 a year, so if you pay monthly it adds up to can extra $20 for them.....grrrr.
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Thu, Nov 30th, 2017, 01:25 PM #44
I have a 6 month old baby and order often from beauty boutique.
I honestly like this and will more than likely join. It will pay for itself in points back from diapers and not having a minimum on beauty boutique for shipping + free samples when I order is a bonus
Oh and free click and collect is great since I wont have to go in to the store with the baby during those cold winter months.Last edited by tmlskk01; Thu, Nov 30th, 2017 at 01:26 PM.
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Thu, Nov 30th, 2017, 02:06 PM #45
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I dont know if I commented or not before, but if I'm paying $100 a year for anything, I want something show for it other than points... points that may or may not hold their value in the end... points that may or may not be restricted at the will of Mr Weston.
With my above mentioned credit card, I know what I'm getting... cashback, and it's clearly defined how much I'll get and when I'm going to get it.
With Amazon, I know it's paying for my unlimited 2-day shipping, and their media services (Prime video and now Prime music).
I wouldnt pay to be a member of AirMiles... or Scene... or Aeroplan... I'm paying for those with my CUSTOMER LOYALTY -- not purely with my pocketbook. Loblaws should maybe take another look at it from that angle.
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