A new credit card

We haven't done very much the last two days because it's been too hot. The temperature went up to 41C (106F) both days, so we just stayed in the air conditioning and only went for a walk in the evening after the sun went down. 

So that made for lots of internet time, and we ended up signing up for a new credit card.

This will mostly be of interest to Canadian readers. 

We've been using the Scotiabank Passport Infinite visa card for the past several years. It is hands down the best credit card for Canadian travelers because one of the benefits is zero foreign exchange fees. That's very rare in a Canadian credit card. Most of them charge a 2.5% fee. And since the vast majority of our charges are not in Canadian dollars, this is a huge benefit for us.

We also get points. It takes a while for them to add up, but we usually end up with $1,000 worth of travel credits over a one year period.

And of course the 6 free airport lounge passes are an enjoyable benefit.

The $149 annual fee is waived if you have the Ultimate Banking package through Scotiabank which is also free if you keep a minimum $6,000 balance, which we do.

However, they sent me a message the other day offering to upgrade us to the new Scotiabank Passport Infinite Privilege Visa card that has even more benefits. It's billed as Canada's Ultra Premium Travel Credit card.

The card itself is metal, not plastic.

But, there is a cost as well. So I had to decide if the benefits outweigh the cost, and we think they do. The card costs $599 per year with another $199 for a secondary card.

So, $798 a year. However there is a $149 fee credit for having the Ultimate account so it's $648 a year. And, you get a $250 annual travel credit if you book anything through their supplier, so now it's $398.

And, it came with points bonuses that will easily make up that remaining $398, as well as 3x points on all travel related purchases. And 6x points if you book through their Expedia based supplier. That will also add up quickly.

There are a raft of other benefits, some of which may come in handy. The main one for us is that we now have 20 airport lounge credits. The 6 we had before would always get used up halfway through the year, so now we should never run out. The airport lounge is definitely the best way to wait out time in an airport!

And a whole lot of other benefits. One small benefit is the eSIM provider GiGSky. We get a twice yearly free 1GB eSIM in any country as well as 20% off any of their plans. 

And of course the typical various insurances and expensive hotel and restaurant discounts that we'll likely never use.

Anyhow, we'll keep track of it for a year or two to make sure we're getting enough credits to pay for the card, but I think I've already figured out that we will.

Today the heat wave has passed and they are forecasting a more reasonable high of 31C (88F) so we are headed out to see a waterfall.

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