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Fido or Rogers Master card? Can't decide!
March 21, 2018
11:26 pm
Top It Up
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Loonie said

... as they now have another way of knowing if you've left home. I just can't remember what the new way was.  

The "new" way is just like the "old" way - physically using your card outside of Canada.

CIBC doesn't want to know about your travel plans UNLESS you want to purchase health/travel insurance, then they'd love to hear from you.

March 21, 2018
11:36 pm
Peter
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Note: I've moved this thread to the "Your Stories" forum so discussion can continue as long as it needs to regarding Save2Retire @ 55's choice. General discussion about the Fido and Rogers Mastercards can continue in this other thread.

March 22, 2018
1:29 am
Rick
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Norman1 said

Rick said

…The percentage they take from each transaction isn't enough? Would think that the possibility of bankruptcy and default would have a bigger impact on whether or not to grant credit.

The interchange paid to the Visa card issuer is not that much.

For an electronic card-is-present transaction, it is 1.42% in Canada for the Classic, Gold, and Platinum Visa cards.

There is a special Visa Canada program for grocery and food retailers that drops it to 1.23%. The special program for gas stations drops it to 1.18%.

The "Emerging Segments" program drops it to 0.98%. The program includes charities and utilities.  

Thanx for the numbers. Still not feelin it though. I'd love to get 1.42% of all the credit card transactions, even for just a day. Imagine it pales in comparison to what they bring in on interest and fees.

March 22, 2018
3:39 am
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Mary said
My experience with Home Trust Visa. ... please note their cards do not have the "tap" feature either.  

NO contactless pay ... like how pathetic is that for a CC in 2018?

March 22, 2018
8:01 am
John Wayne (Marion)
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Loonie said
I read somewhere recently that it is no longer necessary to notify CC issuers of one's travel plans as they now have another way of knowing if you've left home. I just can't remember what the new way was. In the past, I've always found that it was a good idea to tell them.
Do any of you experienced travellers have any knowledge of this?  

On BMO online banking....they say you don’t have to contact them if you go on vacation. I have never seen a blanket statement that covers all cards. That should apply to business travel too. In my working years of travel I never advised them..

March 22, 2018
8:04 am
John Wayne (Marion)
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Rick said
Mine arrived with a 7K limit, which is ok with me. If the limit isn't enough, I would call them up, explain the situation, and request an increase. You should give them advance notice of your travel plans anyway. Sux having your card frozen for suspicious activity when your thousands of miles form home.  

Mine too and only plan to use it for out of country purchases and a back up card.

March 22, 2018
8:08 am
John Wayne (Marion)
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Rick said

I would never have thought of that. My score was 819 when I applied. The percentage they take from each transaction isn't enough? Would think that the possibility of bankruptcy and default would have a bigger impact on whether or not to grant credit.

My first card ever was Sears with a 500 dollar limit. I was always grateful they were the ones to give me my first chance on building a credit rating.  

Lol as a working teenager at Sears my first credit card was with them too. Main reason was to buy gasoline with discount....$5.55 filled my tank. As the red headed supervisor scouled me up and down I was approved for $50 limit.

Ps. It was a thick paper card...no plastic then

March 22, 2018
8:20 am
John Wayne (Marion)
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Save2Retire@55 said

I think this is the highest limit I have seen so far from them. Today, I logged in my Amex and they are offering me an increase from $5K to $7.5K. I didn't accept it yet as I am still hoping to get Home Trust or Fido.  

There is usually a hitch when you call in to take up an offer of a credit limit increase. For my Sears Master Card that was run by Chase and then to Bank of Nova Scotia they send me a letter every year offering a higher limit but warns me if I call in for it they “may” want more information from me. They should have got the information from Sears and Chase. I have $7000 with them and since they have dropped picking up the forex I could care less if I have their card or an increase. So it too only is a backup and it pays one utility bill a month. Never have liked BNS after I had a mortgage with them and their customer service sucks too. Keep in mind to keep a record of what you tell a credit agency in regards to income....if it varies on applications and they check the credit bureaus you may be declined.

March 22, 2018
8:45 am
John Wayne (Marion)
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Norman1 said
It depends on the credit card issuer.

BMO Bank of Montreal no longer requires or accepts travel notifications for their credit cards. PC Financial still does.

The issuers can tell if the card is on a trip. I don't think they can if the card is on the trip with its rightful owner, though.  

They can sort of. We booked a hotel in Oregon from another hotel in same city over the phone. It appears that the new hotel had issues and our card number was now public information and was duplicated and being used 5 states away. We were told new one was in the mail and we could still use or other card with different number on it. Also were told they test the new forged card by buying a chocolate bar at a gas station. Master Card must have algorithms running to pick up that type of thing.

March 22, 2018
8:47 am
John Wayne (Marion)
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Top It Up said

NO contactless pay ... like how pathetic is that for a CC in 2018?  

Yup no tap. And if one card goes bad so does the supplementary card!

March 22, 2018
10:16 am
Rick
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Top It Up said

NO contactless pay ... like how pathetic is that for a CC in 2018?  

You know, I didn't even notice. It has a chip so I just assumed it had tap as well. I use it for US online purchases and shopping when we go cross border shopping. They don't have tap in the states, not Washington state anyway. Chip is fairly new to them, and we always get in the checkout line behind someone still using cheques. Maybe with the flood of new customers they will accelerate their technology adaptation. The benefits are worth the minor inconvenience of having to physically insert your card and enter the PIN

March 22, 2018
3:07 pm
John Wayne (Marion)
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I never use TAP either. What is the safest...magnetic strip....tap....or chip?? Is there not a limit for TAP....not over $100? And who picks up the fraudulent TAP the vendor or VISA? TAP cards have )))) on them.

So here is another issue. Received my first statement from Home Trust today. Billing date 02/xx/2018 to 03/09/18....received 03/22/2018....DUE 03/30/18.
Not good!!!!

ps. They give you a Score Card on your statement and another piece of paper called the Score Card as will that tracks your 1% rebate in dollars only. Nice!!

March 22, 2018
3:43 pm
Wayno
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Mary said

So here is another issue. Received my first statement from Home Trust today. Billing date 02/xx/2018 to 03/09/18....received 03/22/2018....DUE 03/30/18.
Not good!!!!

 

Hi Mary,
Are you planning on following up ?
If you are, could you please post your response from Home Trust?
Thanks,
Wayno

March 22, 2018
5:38 pm
Rick
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Mary said
I never use TAP either. What is the safest...magnetic strip....tap....or chip?? Is there not a limit for TAP....not over $100? And who picks up the fraudulent TAP the vendor or VISA? TAP cards have )))) on them.

So here is another issue. Received my first statement from Home Trust today. Billing date 02/xx/2018 to 03/09/18....received 03/22/2018....DUE 03/30/18.
Not good!!!!

ps. They give you a Score Card on your statement and another piece of paper called the Score Card as will that tracks your 1% rebate in dollars only. Nice!!  

I've heard tap is safer as you don't run the risk of having your info skimmed from a compromised terminal. Down side is there is a limit, and you should keep in a RFI blocking wallet.
Got my first statement today as well. Same dates as yours. How much notice would be comfortable? 9 days sounds only a bit on the short side, but I've had my payment for the month scheduled for a week already. Don't wait on snail mail for my statement info...THAT'S playing with fire. Not real crazy about their ez card website, but thats what I rely on for payment/charge confirmation. Paper copy is only a record. Truth be told, I prefer the e-statements. You can set up an alert to be notified when they are ready and I store them on epost (not HT) and my computer. Much easier than digging out old statements when you need them.

March 22, 2018
5:50 pm
Doug
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Peter said
Note: I've moved this thread to the "Your Stories" forum so discussion can continue as long as it needs to regarding Save2Retire @ 55's choice. General discussion about the Fido and Rogers Mastercards can continue in this other thread.  

Thanks, Peter. That's a respectable alternative. The other thread you highlighted was indeed the one to which I was referring that provides far more substantive information and analysis. This thread is, more or less, the OP seeking others' advice on what he should do. sf-cool

Cheers,
Doug

March 22, 2018
7:36 pm
John Wayne (Marion)
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Rick said

I've heard tap is safer as you don't run the risk of having your info skimmed from a compromised terminal. Down side is there is a limit, and you should keep in a RFI blocking wallet.
Got my first statement today as well. Same dates as yours. How much notice would be comfortable? 9 days sounds only a bit on the short side, but I've had my payment for the month scheduled for a week already. Don't wait on snail mail for my statement info...THAT'S playing with fire. Not real crazy about their ez card website, but thats what I rely on for payment/charge confirmation. Paper copy is only a record. Truth be told, I prefer the e-statements. You can set up an alert to be notified when they are ready and I store them on epost (not HT) and my computer. Much easier than digging out old statements when you need them.  

If the statement was run and produced on March 9 it should be to me by March 5 NOT March 24. I remember my old system days of producing reports, printing them on high speed printers, decollating them, bursting them, and putting into envelopes all by machine and would assume machines today are much more efficient. But I do know that some companies only mail on some days. I wish we could say that when our payments are latesf-surprisedsf-surprised
And they have the audacity to include an envelope to mail the payment back to them.

Yes I agree I like my stuff online but only if they send a reminder email. Telus, Vancity and iTrade do but Implicity, Hubert, Outlook do not. Is much faster for sure. Not sure about BMO as I just signed up for that.

March 22, 2018
9:18 pm
Save2Retire@55
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Mary said
My experience with Home Trust Visa.  

Thanks for sharing your "terrible" experience. This is really concerning specially when on vacation. I always take 3 cards (2 are same account, main and supp cards and a 3rd from a good bank without too much waiting like Scotia Bank Amex or anything more reputable). And the whole process seems stupid to me. They are not ready for this massive move. I think they are in shock. I wonder if they will collapse or they will have problems managing all the cards they are issuing. Time will say. For now, I don't have an email nor a call nor a card or PIN! Haha

March 22, 2018
9:21 pm
Save2Retire@55
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Loonie said
I read somewhere recently that it is no longer necessary to notify CC issuers of one's travel plans as they now have another way of knowing if you've left home. I just can't remember what the new way was. In the past, I've always found that it was a good idea to tell them.
Do any of you experienced travellers have any knowledge of this?  

Yes, PC still needs that and they don't have an online option ... so have to call in and wait 30+ minutes to talk to someone and also make sure they put the right countries and dates. I think the more advanced the system gets, the better it learns of the card owner's behavior and adjusts its alarms.

March 22, 2018
9:22 pm
Save2Retire@55
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Peter said
Note: I've moved this thread to the "Your Stories" forum so discussion can continue as long as it needs to regarding Save2Retire @ 55's choice. General discussion about the Fido and Rogers Mastercards can continue in this other thread.  

Thank you Peter 🙂 This is the way to do it rather than locking per other's personal interest.

March 22, 2018
9:42 pm
gicjunkie
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Save2Retire@55 said

Yes, PC still needs that and they don't have an online option ... so have to call in and wait 30+ minutes to talk to someone and also make sure they put the right countries and dates. I think the more advanced the system gets, the better it learns of the card owner's behavior and adjusts its alarms.  

I have found that each credit card company has its own preference regarding out of country travel notification, so check with your card company. Don't assume anything and then have your card rejected.

Also, it is always good to travel with at least 2 options for credit cards. We use a combination of TD US dollar Visas (my wife and I each have separate accounts in case one is lost or stolen) or a forex free Visa, and a Master Card or Amex. You have to be able to have a choice of cards in case your hotel, store or restaurant doesn't accept one or the other.

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