We are talking about reward programs that Canadians can receive with their credit or debit cards so that they choose the best program on offer.
We live in the world of intense competition. The commercial part of our society constantly fights for customers’ attention. To attract people to its services and products, every organization strives to outdo its competitors by offering its customers what others cannot give. In the never-ending struggle for customers’ loyalty, the commercial world becomes overflooded with lucrative offers. Whenever we go, we immediately face an embarrassment of riches. We always have so many variants of what we are looking for, one being more alluring than the other, that we always have a difficulty in choosing the right option. And the more lucrative these offers are, the more difficulty we experience in making a choice.
Take, for example, the reward programs that banks and other financial organizations unroll before us when we order a credit or debit card. Every reward card comes with some enticing gift, and considering that there is a rich arsenal of these cards, we always end up with a big choice of attractive offers handed to us on a plate. No wonder, then, that many of us feel overwhelmed when selecting a credit or debit card. As all of us want to save money and receive some bonuses, understanding differences between rewards coming with plastic cards is essential for our saving goals.
In what follows, we are talking about reward programs that Canadians can receive with their credit or debit cards so that they choose the best program on offer. We are elaborating below on loyalty programs for hotels and nights out. But if you are fond of flying and want to compare reward programs on flights, read about advantages and disadvantages of aeroplan versus airmiles bonuses. After reading the article on aeroplan and air miles, you will easily decide not only what program to choose but also what credit card to order for travelling in Canada and beyond.
Loyalty programs for free hotel stays
Travel rewards credit cards pay rewards not only for purchases with a specific airline but also for staying in hotels. These cards can be of general purpose or brand-specific. If you are picky and have fondness for particular airlines and hotels, you are advised to order the second type of the credit card. After you specify what hotels you prefer, you will start earning more travel rewards, provided, of course, you consistently prove your loyalty to your chosen hotels.
With some loyalty programs, you can earn a free stay in a hotel. For Canadians, the best choice is Marriott Bonvoy. You can earn 10 points for every one US dollar spent on eligible hotel charges, when you land on Marriott properties. Or you receive 2 points for every US dollar with any credit card. Typical return on spending with Marriott is 9.13 percent.
Another good option for lovers of free hotels is Best Western Rewards. As is the case with Marriott Bonvoy, with this program, you will also earn 10 points per $1 spent on hotel charges. The only difference between Best Western and Marriott is that the first has fewer properties around the world: if Best Western boasts only 4,500 hotels, Marriott has 7,633 of them. You also receive 1 point per every one dollar with any other credit card, while with Marriott, you receive 2 points for each dollar. Their typical returns on spending also differ. With Best Western Rewards, your return on spending is 6.98 percent only.
There is also a program called TD Rewards. When you redeem your collected points for a hotel stay through Expedia for TD, you get access to a great hotel matching policy. You can also match a price for a hotel stay up to forty-eight hours before your check in. With this program, you will earn 3 points per every dollar. Your typical return spending with TD Rewards is 1.5 percent.
Loyalty programs for movies or nights out
Many banks cater not only to people fond of travelling but also to movie goes or fun lovers. If you like to watch every movie that is shown on big screens in Canada, you should definitely consider the SCENE loyalty program. This program offers you free access to the majority of theaters in Canada through the Cineplex network. With it, you will also collect points every time you purchase a movie ticket. You will receive 100 points for $12 ticket with loyalty card and 1 point per every dollar spent with any other credit card. Your typical return on spending with Cineplex SCENE is 11.2%.
Note also that if you participate in Scotia Rewards program, it can transfer your rewards points to SCENE, though with a slight loss: your 1,000 reward points with Scotia become 770 with SCENE. Scotia Rewards also allows you to earn 1 point per every dollar you spend. Cash Air Miles can also be redeemed for Cineplex movie passes. Every mile can be redeemed per $20 dollars with loyalty card and per $10 with credit card.
There are other loyalty programs that banks and financial organizations offer to their customers. Your main task is to learn how they differ from each other so that you can benefit more from banks’ generosity.
