Canadian Credit Card Gift Card Hack Explained: Pros, Cons & When to Use It!

Did you know that you can save a lot of money by utilizing the Credit Card Gift Card hack? How does it work? Is it a good idea to always utilize the gift card hack to for all your purchases?

0:00 Intro
1:57 Spending Limit
3:12 Lost Insurance
4:35 Buyer’s Remorse
5:11 When to use the Gift Card Hack
6:30 Best Credit Cards for Gift Card Hack

#personalfinance #finance #creditcard #visa #mastercard #americanexpress #giftcard

[TC-dgpm]

You kept saying "gift card hack", but you never explained it in such detail. Thanks. Great video.

[terryevp]

Great to have you back..!!! Happy New Year...!!! Looking forward to new content this year...!!! Thanks for the great information. FYI...Tangerine master card doesn't offer 2% on TELUS recurring bills. I think TELUS did something to change the category.

[markniu]

how about use the gift card partially?

[uabir]

DON'T DO THIS IF YOU WANNA GET YOUR EXTENDED WARRANTY/INSURANCE FROM YOUR CREDIT CARD.
If they give you that.

[hawtdilf]

The cobalt doesn’t give you 10% cash back rewards for groceries. It gives you 5xMR on groceries spend. Am i wrong?

[pdrizle]

Would this work if you purchase a prepaid visa from say save on or does it exclusively have to be a gift card from a grocery store?

[IevgeniiWT]

great video and useful tips! Sounds like the only useful this "hack" is going to be with gas and different type of streaming services (if people actuality use those a lot). Gas is definitely more important. Any other ideas which purchases can be smart to utilize this strategy for? Also, based on the explanation in the video there shouldn't be a problem of buying 1 gas gift card per month but for a higher amount? Probability would be a good idea to buy something else at the store during the visit so then it won't look suspicious to the credit card provider...

[workingduringtheweekend]

at 0:30, it is in toronto, not vancouver lol

[Nov]

You need to sit down and actually calculate, after taxes, fees, and other associated giftcard expenses, how much money you actually would get back on an expensive purchase because I don't think it's as much as you think it is.

[MrLabradorwildman]

Hi great videos trying to see if it is worth redeeming gift cards though our airmiles and aeroplane just seems so hard to get enough to fly so well just redeemed them to get like Amazon or Mastercard or visa gift card instead and help on this would be great! Dave from Labrador!

[rzmr]

I was going to apply for the roger’s elite mastercard but now seeing this video, im thinking of applying for the colbalt amex card…
Im torn between these two now 😅

[AminAnvary]

And you pay tax 2 times for the same amount of the purchase. GENIUS