The TD Aeroplan Visa Infinite Card: Should You Keep It?

The TD Aeroplan Visa Infinite Review

First Published Date : October 14, 2015

The TD Aeroplan Visa Infinite card is a travel rewards credit card that lets you earn Aeroplan miles for everyday purchases that can be used towards Air Canada (and 26 other Star Alliance flights) and various other rewards such as hotels, vacations, car rentals, entertainment, merchandise, and so on offered by Aeroplan.

The Cost

Annual Fee = $120 Additional cards = $50

Minimum annual income required = $60,000 (Or $100,000 household income)

Rewards Points Snapshot

– Earn 1.5 miles for every $1 spent at eligible gas stations, grocery, drugstore, and on eligible aircanada.com purchases, excluding Air Canada vacation packages.

– Earn 1 point for every $1 spent on everything else.

First Time Bonus

A 15,000 miles welcome bonus when you make your first purchase. Another 10,000 miles bonus is usually offered when you spend $1,000 within 3 months (check the TD website for details as TD is always changing these bonus terms and conditions). Also, the annual fee is NOT waived for the first year.

Anniversary Bonus

None.

Features & Benefits

– Complimentary first checked bag when you travel on an Aeroplan reward flight operated by Air Canada.

– Priority check-in and boarding when you travel on an Aeroplan reward flight operated by Air Canada

– Access to Maple Leaf Lounge when you travel on an Aeroplan reward flight operated by Air Canada.

– Access to Visa Infinite 24/7 concierge service.

– Emergency Medical Insurance (15 days<65, 4 days>65 or older, Amount: 1 M/per person).

– Travel Accident Insurance (Up to $500,000 CAD).

– Auto Rental Theft and Collision/Loss Damage Insurance (Amount not provided by TD)

– Trip Cancellation Insurance ($1,000 each, maximum $5,000).

– Trip Interruption Insurance ($5,000 each, maximum $25,000).

– Flight Delay Insurance (After 4 hours, maximum $500 per occurrence).

– Lost and Delayed Luggage (maximum $1,000).

– Extended Warranty Insurance (1 additional year).

– Purchase Security (90 days).

What’s Missing

– Hotel/Motel Burglary Insurance

– Price Protection Insurance

My Take

Although on the surface it looks like the TD Aeroplan Visa Infinite is showering you with many Air Canada benefits such as lounge access, priority boarding, free checked baggage, etc., you will not be able to use any of them. Let’s put is this way: You don’t want to use them, as the condition is you have to fly Air Canada and you should avoid Air Canada at any cost when you are flying on Aeroplan miles.

This is because Air Canada charges hefty fuel surcharges on Aeroplan flights and if you are an Aeroplan member your objective should be to not fly Air Canada, as there are other Star Alliance airlines that will not charge you fuel surcharges.

For example, let’s take Turkish Airlines, which is one of the Star Alliance members that does not impose fuel surcharges. If you book a one-way flight from Toronto to Istanbul, your total fees would be about $54. However, if you book the same trip using Air Canada, you will be paying $536 because Air Canada is charging you fuel surcharges.

So what does this mean at the end of the day? The TD Aeroplan Visa Infinite card basically provides no benefits, except insurance benefits and a Visa Concierge benefit. And even the insurance benefits are flawed, as the Trip Cancellation Insurance is only $1,000, whereas many other travel rewards cards provide $2,000 to $2,500.

Another point worth mentioning is that TD Aeroplan Visa Infinite card only provides 1 mile on travel purchases, although it is a travel rewards credit card.

As of this writing, I hold this card. I picked up the TD offer to receive 25,000 bonus Aeroplan miles and the waiving of the first year annual fee. In the future, I am planning to discontinue this card unless I can make TD continually waive the annual fee.

Disclosure: Information provided here may not be accurate and no longer valid. The mentioned card provider is not related to A Dawn Journal and neither monitor this site nor responsible for any inaccurate information. Contact the card company directly for accurate and updated information. A Dawn Journal or my YouTube Channel are not compensated by or affiliated with any credit card companies. All credit card articles are 100% unbiased and honest.

Real Estate in Malaysia

Malaysia Real Estate

First Published Date: Apr 2010

One of the fastest growing and most dynamic countries on Earth is Malaysia. Once thought of as a country that was nothing more than developing, this country is becoming a financial force to be reckoned with. The capital, Kuala Lumpur, is close to some of the most important cities in the world, including Singapore, and the city itself boasts 6.9 million within its region, giving it plenty of opportunities for investment, and as a place to move to.

In fact, many individuals in the Western World are looking at Malaysia and Kuala Lumpur as a place for retirement residential property. The coastal area of Malaysia to the west of the country boasts some excellent coastal resorts and properties that are quite affordable.

In addition, Malaysia is very open for tourists and if you want to visit somewhere beautiful in your very own condo or house, then you should look to this country as a place to own property.

Thankfully, Malaysia makes this very easy thanks to the My Second Home Program (MM2H). This program allows foreigners to own residential property within Malaysia, with a limit of two properties. This program tests an applicant to make sure that only serious buyers come to the country and those who own property through the MM2H program are not allowed to work within Malaysia, but they are more than welcome to take their vacations there. That doesn’t mean you can’t own property and work in Malaysia. To that, all you need is to get a loan from a bank.

In order to put down money on property there are two stages that must be followed. First, three percent of the worth of the property must go with the letter of offer. After this, another seven percent of the purchase price must be presented with when the full sale agreement is signed. Some other benefits to living in Malaysia also include the fact that there is no capital gains tax on property deals as of April 2007. At one point the tax was as high as 30 percent, but it does not exist anymore.

It should also be pointed out that Malaysia has a very benign taxing structure. This means that you do not pay much for taxes when you live in Malaysia. This helps you save more money that you can use to put towards buying a home in Malaysia.

Currently, homes and condos are cheaper in Malaysia than ever before due to the financial meltdown that has been experienced all over the world. As a result, you can save a lot of money by buying in Malaysia right now. You will typically pay more within Kuala Lumpur than you will outside the city. No different than in the United States, Canada or Europe, some homes will be more expensive than others depending on where they are. Make sure you do your research before buying a condo or house within Malaysia to ensure you get what you want, where you want, for the price that you want.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the realestateexpedition.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on Apr 11, 2010.

Meet Canada's New 1.5% Foreign Transaction Fee Credit Card

Tangerine Launches New Money Back Credit Card

First Published Date : October 21, 2015

Tangerine (owned by Scotiabank) has recently announced launching its new no fee cash back credit card for the Canadian market. The new credit card will be available for everyone starting next year, but it’s immediately available to selected Tangerine customers.

This new credit card offers 2 percent cash back on 2 selected categories and 1 percent cash on all other transactions. Tangerine’s new cash back MasterCard is unique in the sense that it gives you the flexibility to pick any two categories out of 10 categories such as grocery, furniture, eating places, hotel-motel, gas, recurring bills, drug store, home improvement, entertainment, and public transportation & parking.

Cash back rewards can be applied towards your credit card balance or deposited into a Tangerine savings account. There is no limit on how much cash back you can earn and the 2 percent categories can be changed every 90 days if you need to.

The Tangerine Money Back Credit Card has 2 other features that make it a good credit card to travel with outside Canada. The foreign transaction fee is only 1.5 percent, while most other Canadian credit card charges 2.5 percent (except the Rogers Bank, Chase Marriott Visa, and Chase Amazon Visa that do not charge any foreign currency fee). Also, the foreign cash advance fee is only a flat $5. Most other banks charge a lot more on foreign cash advances. So while you are travelling, The Tangerine Money Back Credit Card can save you money.

For those who want plain vanilla cash back rewards paying no fee, the Tangerine Money Back Credit Card is something you can look at. The card also offers Purchase Assurance and Extended Warranty insurance with a lifetime maximum of $60,000.

Brand Names Not Worth The Money?

Is Brand Name Losing Its Cool?

First Published Date: Aug 25, 2009

That brand names cost more than own-brand or budget ranges is not news to anyone. That this discrepancy can sometimes be quite marked is no more of a shock to anyone who is paying attention. And yet there still seems to be a thirst for the big names among shoppers. However it seems that in the new world which has been born out of the global financial crisis, the numbers of people voting with their wallets and choosing the cheaper option are increasing. Are we finally coming to terms with the idea that all those brand names amount to very little in terms of tangible quality? Or are people simply deciding to tighten their belts temporarily?

Go to any supermarket today and you will see that people are spending longer in the aisles looking for the extra few cents’ saving than ever before. These same people two years ago may well have instantly picked up the recognisable brand name and dropped it in their trolley without so much as looking. What is going on? Obviously we are in a recession, but this time it feels very different. Almost without noticing, we have suddenly become thrifty. It seems strange to say it, but it has almost become cool to be careful.

It must be said that there are some cases where compromising on quality for the sake of price is less well-advised than in others. We can all think of a few ourselves, but suffice it to say that thrifty shopping can become a false economy when we buy the cheapest line possible and end up throwing it out because it was inedible or made us need to go to the bathroom non-stop for a day. Such a strategy is almost doomed to fail and can sour a person on the whole concept of economising. However, there are cases where dropping from top-of-the-range to mid-range constitutes very little difference.

It is no myth that in blind taste tests we will often see a mid-price item out-performing its more illustrious rivals. Perhaps more often the big name will win out, but this is to be expected. After all, reputations are built over time. The better ingredients cost more, and in cases where the mid price item is more or less copied from the bigger name, they can never get it absolutely right. As a result, the consumer will often pay for the name.

If, however, you are making a concerted effort to leave aside the added expense of buying brand names all the time, it cannot have escaped your attention that sometimes the supposed “lesser brands” can be a bargain. Sometimes too, there is so little difference between the big brand and the little one in terms of taste that it is only social conditioning making us buy the big names. It may not be for everyone, but next time you are at the supermarket throwing in the brands you have always bought, why not go downmarket? You might find that sometimes the bargain buys are very much to your taste.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the Canadapersonalfinancewebsite.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on Aug 25, 2009.

How to Pick the Best Rewards Credit Cards in Canada

Understand Different Kinds of Credit Card Rewards

First Published Date: October 29, 2015

Long gone are those days when credit cards were a luxury, not a necessity. We live in a time now where credit cards are intertwined from waking up to going to sleep at night – at every stage of modern lives. And why not? The protection, benefits, and rewards credit cards offer you are hard to ignore. If we are to use credit cards on a daily basis anyway, why not take advantage of it by maximizing our credit card rewards?

To get the most out of your credit cards, you need to understand how different kinds of rewards work. Today, I will go over the rewards basics you need to know before making your rewards selections. One important note I would like to point out is that this article is not about How to Pick Travel Rewards Credit Cards. I will write a separate article on travel rewards cards, as you need to understand first how different kinds of rewards work before moving to picking a travel rewards credit card.

Three Types of Rewards Cards

There might be 100s of different rewards credit cards, but if you break them down into categories, all of them will fall within these three categories:

Cash-Back Rewards Credit Cards

Travel Rewards Credit Cards

Other Rewards Credit Cards

Let’s decipher these three one by one.

Cash-Back Rewards Credit Cards

As simple as it sounds, you will receive cash back for each dollar you spend on your credit card. Credit card companies will give you direct cash amount or points (that represents cash amount) for your spending. The rate of return is usually 1 to 2 percent. However, there are credit cards that offer 3 to 4 percent cash back on selected categories such as grocery, drug store purchases, etc. Example: Scotia Momentum Visa Infinite card.

Cash-Back rewards are easy to understand and unlike travel rewards cards, you don’t need to master the ins and outs of various airline or hotel loyalty programs. Pick Cash-Back rewards if you don’t travel or don’t want to deal with travel rewards. However, keep in mind that Cash-Back rewards do not offer the most value you can get out of your credit cards like travel rewards credit cards do and one type of travel rewards card does offer simple rewards that are easy to understand (and can still provide more value than cash rewards) – which I will discuss below.

Travel Rewards Credit Cards

The travel rewards category is where you can get maximum return for your dollars that you spend on credit cards, but it can be quite complicated based on what kind of travel rewards you are dealing with. Let’s talk about the simplest travel rewards cards first.

Proprietary Rewards Points – These cards offer points (that offer fixed value, usually 1 cent =1 point) which can be redeemed through the credit card company for any flights, hotels, or travel-related matters. The beauty of proprietary rewards points is that you don’t need to spend time mastering various loyalty programs. However, your returns are usually the lowest among other types of travel rewards because you are always getting a fixed value for each point. Still, proprietary rewards points are a good option for those who want to avoid cash-back rewards cards and want a simple travel rewards credit card. Example: BMO World Elite MasterCard.

Cobranded or Loyalty Program Rewards Points – Credit cards that offer these kinds of rewards points are hotel travel credit cards, airline travel credit cards, etc. These types of cards can be cobranded with specific hotels, airlines, or their loyalty or frequent-flier programs. As these cards offer a variety of programs you can pick from, this is where you can make the most money. If you are knowledgeable about the loyalty program rewards credit cards offering, your return can be easily 2-4 percent. If you are extremely knowledgeable about the loyalty program rewards points, you can make lucrative returns such 4 to 8 percent return on your credit card spending. Example: TD Aeroplan Visa Infinite Card, Starwood Preferred Guest Card.

Hybrid Rewards Points – This is a combination of the two types of travel rewards discussed above. Credit cards offering hybrid points offer tremendous flexibility because you can use these rewards points to offset your travel costs through credit card company or you can transfer your points to various other hotel or flight points if you require. So these types of credit cards can work for both novice and expert users. Keep in mind that you will get more value for your dollar when you transfer to loyalty programs, rather than using points to offset travel expenses through a credit card company. Example: American Express Gold Rewards Card.

Other Rewards Credit Cards

Coffee shop and supermarket cards, gas station and automaker cards, and any other bizarre credit cards you can possibly think of that do not fall under cash and travel category fall under the other rewards category. These credit cards are only good when you want to shop and use your rewards at specific stores or for specific reasons. The rewards are not that great and options and features are limited for these types of cards. Example: Tim Hortons Double Double Visa Card.

Conclusions

So now you know the basics of different types of rewards credit cards. I will summarize everything in brief.

Cash-Back Rewards: Easy and simple to understand, but returns may not be that great. Go with this if you don’t travel and want hassle-free rewards from credit cards.

Travel Rewards: Can be complicated, but offers excellent returns. Go with this if you travel and want to get maximum rewards out of your credit cards.

Other Rewards: If you want to stick to specific stores or products and don’t mind whatever returns you get, this is for you.

What’s Next

After reading this article, if you would like to know more on Travel Rewards Credit Cards, you can read my next article How to Pick a Travel Rewards Credit Card. I will elaborate further on how to pick travel credit cards. I am still working on this article and will provide a link once completed.