Miles & Points for Beginners: Choosing the Right Credit Card

In previous parts of our Miles & Points for Beginners series, we explored why points matter, the importance of setting a goal, and the value and power of flexible points.

Now that you have a foundation of miles and points knowledge, it’s time for the most important part of the series yet. The next step in your journey is to choose the right credit card.

It’s easy to get overwhelmed at this stage, since there are literally hundreds of options at your disposal. What’s more, credit card welcome bonuses fluctuate often, and even earning rates can change.

After reading through this guide, you’ll be able to strategically approach how to choose the right credit card(s) to help meet your travel goals.

Welcome Bonuses: Earn Points Fast

Welcome bonuses will play a large role in your overall credit card strategy. With welcome bonuses, you earn a huge chunk of points after meeting the requirements that are outlined in the offer.

For example, at the time of writing, the Marriott Bonvoy American Express Card comes with a welcome bonus of 55,000 Bonvoy points upon spending $3,000 (all figures in CAD) in the first three months.

Historically, all credit cards followed a similar welcome bonus formula; however, in recent years, most banks have moved away from the simple “spend $X in three months and receive Y amount of points” for their credit card welcome bonuses.

Instead, we’re seeing the welcome bonus being broken down into multiple chunks, incentivizing you to keep your credit card open for longer, or to spend more.

Some examples of this at the time of writing are as follows:

American Express Gold Rewards Card

• Earn 10,000 MR points upon spending $4,000 in the first three months
• Earn 5,000 MR points upon spending $1,000 in each of the first twelve months

TD® Aeroplan® Visa Infinite* Card

• Earn 10,000 Aeroplan points upon first purchase†
• Earn 20,000 Aeroplan points upon spending $6,000 in the first 180 days†
• Earn 20,000 Aeroplan points as a one-time anniversary bonus upon spending $10,000 within 12 months of account opening†

American Express Aeroplan Reserve Card

• Earn 60,000 Aeroplan points upon spending $7,500 in the first three months
• Earn 25,000 Aeroplan points upon spending $2,500 in month 13

Scotiabank Gold American Express® Card

• Earn 20,000 Scene+ points upon spending $1,000 in the first three months
• Earn 20,000 Scene+ points upon spending $7,500 in the first…