Cashback vs Rewards Credit Cards - Which is Better?

The age old dilemma, cashback or rewards. In this video, we break down the pros and cons of each type of credit card, and discuss who each category may be best suited for!

Cards we talked about:

0:00 Intro
0:23 Cashback Credit Cards
3:31 Rewards Credit Cards
6:23 Deciding Which is Best for You
7:08 Comparing a Rewards and Cashback Card
7:50 Recap
9:00 Outro

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#creditcards #cashback #rewards

[creditverse]

Which type of card do you prefer? Cashback or rewards?

[ivito]

The RBC cash back with no annual fee is 0.5% on everythinig else, the 2% or 1% apply only on groceries and recurring bill payments. If you want a plain 2% on 3 selected category the tangerine mastercard is a better choice, they'll give you your rewards monthly and not yearly like the RBC one, the Scotia mastercard also gives yearly cashback, not the tangerine which is monthly. Now there are even better choices from Fintech companies like Brim financials or Neo financials that gives a plain 1% on each and everything that you spend plus points multiplicators and bonus on selected stores, those fintech give you access to cashback as soon as the transaction settles, no mimimum cash out amount and you don't have to wait 1 year or a month to cash out.

[tylerg]

I have been all in on travel rewards cards but now that dynamic pricing seems to be the new trend with most rewards redemptions I’m second guessing my choice especially seeing as in Canada we are limited on what we can earn and how we can redeem them. If you have nothing to do for a few days a week and can keep a tap on point’s redemption deals that’s one thing, but for your average family person who works Mon to fri or shift work and has a few kids and daily life to deal with and only a few hours a month to spend on researching redemption deals and options and finding the “sweet spots as prince of travel puts it” a cash back is zero maintenance and easy to use your cash back to credit your travel purchases. Other then Amex rewards and scene plus I don’t see a better earning to redemption deal for Canadian rewards partners. TD is ok too but limited on direct redemption options unless it’s on their travel portal. But I’m going to give it the rest of this year on rewards programs and see what happens before I go all in on cash back

[anmoldhillon]

I have AMEX Everyday preferred card in Canada . Can you pls help me which card should i go for next in Amex tier ??