RBC Business Cash Back MasterCard Review

No Fee 1% Cash Back Card

First Published Date: February 5, 2017

If you are a small business owner and looking for a no-frills credit card, look no further than the RBC Business Cash Back MasterCard. This card may not provide a lot of benefits, but it’s still good for those who aren’t looking for anything from a plain vanilla business credit card.

Sometimes you just want to have a business credit card to keep an active credit card under your business name. And that’s exactly why I have this credit card, although I don’t really use it. For a No Annual Fee credit card, the RBC Business Cash Back MasterCard offers the following features:

– Promotional 2 percent cash back for the first three months

– 1 percent cash back across the board thereafter

– Get cash back whenever you accumulate $25 or once a year in January

– Purchase security guarantee for 90 days

– Extended warranty for one additional year

As you can see, it’s not really a feature-rich credit card, but for no fee getting 1 percent back on everything is not bad either.

Business owners may need to separate their business transactions on credit cards, hence the need for a separate credit card solely for business. I charge my all business transactions on my regular personal credit cards that offer rich rewards and still keep a couple of no-fee business credit card accounts active for my business credit file.

If you are looking for better rewards on your business transactions, there are other annual fee credit cards you can go for. But for those who are not willing to pay annual fee, the RBC Business Cash Back MasterCard does the job and still provides 1 percent return.

Never Settle for Cash Back Rewards Credit Cards Except for This One Reason

Maximize Rewards with Travel Credit Cards

First Published Date: June 8, 2016

Those who are for cash back credit cards will often tell you that cash back cards are the best rewards credit cards because they are simple to understand and easy to deal with. And you don’t need to spend endless hours mastering hotel points and flight miles. However, what many cash back credit card users don’t realize that even though you don’t want to deal with points and miles, there is no need to shy away from travel rewards credit cards, as they provide the best returns possible among all types of rewards cards.

So how is it possible to enjoy a travel rewards credit card without going into the hassle of miles and points? The answer lies on the types of travel credit cards you are dealing with. Proprietary rewards travel credit cards offer simple rewards points that are proprietary to the credit card company that just work like a cash back credit card. You will receive proprietary points that will offset your travel costs charged by your card. For example, The ScotiaBank Gold American Express travel rewards card provides 4 points per dollar spend on selected categories that translates into 4 percent return. The only difference here from a cash back card is that you have to use these points to offset travel costs, instead of getting cash back.

Cash back credit cards can never beat travel credit cards because of the benefits and rewards travel credit cards can provide. And you can choose a propitiatory travel rewards credit card if you don’t want to go into points and miles. That begs the question: what is the only reason you should not use travel rewards credit cards? The answer is when you do not travel at all and not planning to travel ever.

For most of the population, travel happens often or will happen at one point in our lives. So to get the most out of your credit cards, go with a travel rewards credit card and enjoy the highest return credit cards provide among with other wide array of perks that no other types of cards can provide.

What Are Some of the Best Cash-Back Credit Cards?

Top Cash-Back Credit Cards

First Published Date: August 7, 2016

ou are familiar with A Dawn Journal, you already know my take on cash-back credit cards. I prefer travel rewards credit cards over cash-back cards, as travel cards provide the maximum returns for your dollars. However, for ease and simplicity some of you may want to go with cash-back rewards credit cards.

Today, I will go through briefly some cash-back rewards credit cards that you can consider, so you can pick the one that suits your needs.

MBNA Rewards World Elite MasterCard – Although marketed as a travel rewards credit card, this card provides 2 percent cash back across the board with no strings, no limits, no caps, no tiers, no problems. Annual fee = $89.

Scotia Momentum Visa Infinite – With 4 percent cash back on groceries and gas, 2 percent on recurring bills, and 1 percent on everything else, a perfect card for those who want maximum return on selected categories. Annual fee = $99.

BMO World Elite Cash Back MasterCard – A flat 1.75 percent cash back across the board without any limits. Provides the best insurance benefits among all cash back cards.

Tangerine Money-Back Credit Card – Options to choose up to 3 categories where you can earn 2 percent unlimited cash back. Annual fee = free.

The SimplyCash Card from American Express – A flat 1.25 percent cash back on everything without limits. Annual fee = free.

In the future, I will review some of these cards on A Dawn Journal and on my YouTube channel. There are many other cash-back cards available on the market. However, I believe these I mentioned above offer most value for your dollars spent. Do your thorough research before picking any cards and stay with the one that most suits your needs.

Amazon Canada Rewards MasterCard Fails to Attract Customers

Amazon Canada Rewards Credit Card Review

If you find this review or any other review on AhmedDawn.com or YouTube.com/ADawn different than 99% of other sites online, you got that right. The reason being, those other sites are working for the credit card companies, selling credit cards, and making money off you by providing affiliated links and dishonest, sugarcoated information.

My reviews are non-affiliated, unbiased and honest and I do not accept money or work for credit companies.

Amazon Canada recently launched a credit card issued by MBNA TD bank. There were lots of expectations, but this card failed to meet them. If you remember the old Amazon Chase Canada Visa Credit Card that was discontinued in early 2018, it was everyone’s favourite because of its zero foreign transaction fee feature.

The new Amazon Canada Rewards MasterCard offers 2 different rewards structures. If you are an Amazon Prime member, you get:

- 2.5% return on Amazon online and physical stores, such as Whole Food Markets, and 2.5% on foreign transactions.

- 1.5% return on everything else.

If you are a non-Prime member, you get:

- 1.5% return on Amazon online and physical stores and

- 1% return on everything else.

There are some other benefits, such as 90-day purchase assurance coverage, extended warranty, and trip interruption coverage.

It does not have any annual fee, points caps or expiration for points earned. Every 2,000 points earned will automatically give you a credit on your Amazon account for a $20 Amazon.ca gift card.

As you can see, the Amazon Canada Rewards Credit Card is a mediocre credit card that offers no value and there is no keep to make this card your daily card for any reason.

You can easily get a 4-5% return on Amazon purchases by purchasing gift cards (and using it on Amazon) from grocery stores with one of those cards that offer 4-5% return on groceries.

Although the Amazon Canada Rewards Credit gives 2.5% return on foreign transactions to offset foreign transaction fees for Prime Members, you will end up earning no additional returns on them. There are other credit cards that offer zero foreign transaction fee plus some returns. You can find these cards on my channel in the credit card section. 

Unfortunately, I cannot recommend this card to anyone, even if you are an Amazon Prime Member. Your best option to earn a higher rate on Amazon purchases would be to use a high-earning 4% to 5% card to buy Amazon gift cards from grocery stores and use them on Amazon.

You can watch my video on Amazon Canada Rewards Credit by visiting the link.

MBNA Rewards World Elite MasterCard Devalues

Brutal Devaluation Coming to MBNA Rewards WE

A popular MBNA cash back credit card is going through a two-fold massive devaluation. Not only is the annual fee is increasing, but also its point redemption rates are being axed by TD.

Starting September 6, 2018, MBNA Rewards WE’s annual fee will be $120, up from $89. If that’s not bad enough, MBNA is decreasing the rewards rate of return on this card from a flat 2 percent to 1.67 percent starting February 1, 2019.

Currently each 100 points generates $1 cash back, giving the card a 2 percent flat return on all purchases because it earns 2 points per dollar spent. After the devaluation to generate $1 you would require 120 points.

However, for travel redemptions only, the devaluation does not kick in because you will still get 2 percent return or $1 for in that category.

Most MBNA Rewards cardholders use this card for the cash back feature, so after devaluation MBNA will lose a lot of its clients. MBNA is aware of that because it’s lowering its minimum points requirement to redeem points from 5,000 to 1,000 from September 1, 2018 to January 31, 2019.

Even if you use this card solely for travel redemptions, you should take a hard look after the devaluation because of the annual fee increase and this card has minimal insurances.

There are other cash back credit cards available that can replace MBNA Rewards World Elite MasterCard and even provides better benefits. I have discussed these cards and the MBNA devaluation in this video: Brutal Devaluation | MBNA Rewards World Elite MasterCard |

Since TD took over MBNA, they keep slashing rewards and benefits for most of that MBNA cards one by one, even including TD’s own travel rewards cards.

Because there are better options available, always look for something better to get the most out of your credit cards.