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Increasing fuel prices across the globe are also increasing stress levels in commuters all over North America. In Canada, though, you can take advantage of the benefits offered by the CAA Quebec Platinum MasterCard Credit Card to help alleviate some of the burden.
In this economy you are probably trying to save money wherever you can. While cutting back on unnecessary expenses can significantly help to improve your financial status month to month, the best way to save money is to make it work for you. One strategy for doing this is to use the right credit cards that reward you for spending the money that you need to spend on things like gas.
You have to drive to get to work and to run your errands so it is inevitable that you will fill your gas tank week in and week out. If you use the CAA Quebec Platinum MasterCard to do so, though, you can earn two cents per litre of gas that you buy at participating Couche-Tard outlets just for showing your card. If you actually use your card to purchase your fuel (or anything else sold at a Couche-Tard outlet), you earn an additional 2% rebates. This additional 2% is added to the standard rate of 0.5% that you earn on all purchases made with your card. This means that no matter what you buy (and more importantly, no matter where you buy it) you will earn some kind of rebate.
Of course, the CAA Quebec Platinum Card has several interest rates associated to the different balances you could carry. This card allows you to make:
- Standard purchases
- Balance transfers
- Cash advances
The standard purchase rate is very good, especially in this competitive economy. The balance transfer rate and cash advance rate are also attractive, though they are slightly higher than the standard rate. Also, there are miniscule service charges associated to cash advances and balance transfers and even wire transfers, but these are nothing out of the ordinary.
It is important to note that this card gives you an extremely low promotional rate for the first six months. While this rate will last for six months, though, it will only apply to purchase that you make within the first 4 months of opening your account.
After six months the introductory rate will revert to the standard rate, but if you miss more than one payment, you could face a rate increase after which you will have to pay the default rate. Fortunately, though, if you get your payments back on track you can restore the lower rate.
You should also know that the CAA Quebec Platinum Credit Card does not have an annual fee. This is somewhat of a rarity these days and is definitely something to consider when weighing the benefits of different credit cards.
Also, you can take advantage of an interest-free grace period, which is something that is common to many new cards right now. The grace period can vary between credit cards and providers, but this one is 21 days. Basically, if you pay off your new balances in full within 3 weeks you can avoid paying any interest at all.
If you use your card outside of Canada, you might also appreciate that foreign currency conversion is available thanks to the support from MasterCard. When you travel to the United States or overseas you can use your card instead of carrying traveller's cheques and you will pay the Canadian equivalent of whatever the local currency is where you are shopping. Keep in mind, though, that there is a small transaction fee to use this service.
Penalties and Fees
All credit cards have fees and penalties associated with undesirable behavior. For instance, you could be assessed a processing or penalty fee for:
- Going over your credit limit
- Having a payment returned to you
- Having a cheque cash advance returned to you
- Having an inactive balance (charged annually)
- Ordering extra copies of your monthly statement.
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