CIBC Infinite Aerogold Visa Review

I’ve sported around the CIBC Aerogold Visa Infinite for a few months (really just less than 2 months I believe) and have been pretty happy so far.  I got this Visa primarily because the first year is free (I have this terrible rule where I refuse to pay for a credit card, though Amex got me this year because I forgot to cancel it and got charged $60) and because I had the potential to earn 20,000 Aeroplan points.

The specs:

  • $120 per year (free for the first year)
  • 15,000 Aeroplan points on the first purchase
  • 5000 extra Aeroplan points once you spend $500 in three months (that is ridiculously easy to do, sometimes I spend that in 1 week haha).
  • 1 Aeroplan points for $1
  • 1.5 Aeroplan points at gas stations, grocery stores, and drug stores
  • CIBC Infinite Aerogold VisaWhen traveling with Air Canada you get priority boarding and priority baggage
  • Free first checked bag when traveling with Air Canada
  • Trip Interruption Insurance
  • Delayed Baggage and Lost Baggage insurance (only if you book your flight on your card, of course)

Here’s my review:

The looks:

Personally I was a little hesitant to sign up for this card just because it is so ubiquitous and I like being a bit unconventional.  A lot of cashiers used to comment on my SPG MBNA Mastercard because it was so pretty (that brilliant blue is so pretty), and a lot of people still comment on my MBNA World Points World Mastercard because they have never seen it before even though it is plain and not very attractive or sleek lookingContinue Reading

Taxes: When it Pays to Procrastinate or Defer

The old saying goes that there are only two certainties in life: Death and Taxes. Doing my taxes is never fun but when you organize things (e.g. put all the T3′s together, put all the T5′s together) and have a place you put all your receipts in, it makes doing taxes less painful.Okay let’s face it, I like doing my taxes.  Maybe I should have been an accountant instead.

Anyways, there are not many instances in life where being a procrastinator works well.  There are not many instances in life where deferring works well.  Except sometimes with taxes.

There is no better example than with taxes where you can exercise your ability to delay instant gratification (you know, that refund cheque this year instead of next year).

Here are a few ways where being a procrastinator works with your taxes:

What Deductions and Tax Credits to Defer to Reap Bigger Gains

Taxes When it Pays to Procrastinate or DeferRRSP Deductions

This is an important one because if you know that you are going to be in a higher tax bracket next year, lets say, you can defer your RRSP deduction.  It means that you can still contribute (on your Notice of Assessment it tells you how much you can contribute to your RRSP every year) but instead of claiming that contribution on this year’s taxes, you can carry it forward so that you can deduct it next year.

This will give you more “bang for your buck” in terms of your RRSP contribution.  This makes sense for a lot of new graduates getting out of school.  There is little point in deducting your RRSP contribution from your taxes if you are in a low tax bracket, this is why for many people who do not have  high incomes, contributing to the TFSA makes more sense if you can’t contribute to both.Continue Reading

Saving Money by Shopping Online?

I was being all intelligent by listening to CBC on the radio the other day and one of the radio shows was talking about the recent surge of internet purchasers in Canada.

According to Statistics Canada, the value of orders placed online in Canada was $18.9 billion dollars.  Yes, you read that right, BILLION!  This value has increased by at least 50% since 2010, the survey was conducted in 2012.  77% of respondents indicated that they did some research on goods and services or window shopped online.

Most people in the Statistics Canada survey, 58%, purchased travel related goods such as hotel reservations and flights.  This is interesting, because with the ease of purchasing flights on the internet, will places like Flight Centre be obsolete?  I don’t know if it will because my mother still uses travel agencies, and she prefers it to buying a ticket online.  I think that sometimes travel agents can find you a good deal too, especially for places like all-inclusive vacations.  I personally don’t use them at all when I purchase international tickets or tickets without any packages included.

Saving Money by Shopping OnlineIf you like infographics, here is a good one related to Canadian internet shopping habits.

I personally have had bad/ mediocre experiences buying clothes online just because they never fit properly when I receive them and I am just too lazy or have too little time to ship it back and return them.

Here are some pros advocating for why I prefer shopping online:

Related: Amazon Prime Canada Review – Is It Worth it?

Not Having to Deal with Pushy Sales People

As an introvert I don’t really like to make small talk.  Although meeting sales people in stores is nice, I will ask for help when I need to.  I am pretty vulnerable to pushy sales people, but I think I have gotten much better over the years and can stand my ground.  Sometimes I do feel bad when I waste a sales person’s time and don’t buy anything.  The inverse is true, sometimes when you go to a place like Canadian Tire or The Bay, you will be hard pressed to actually find a sales person to talk to and ask questions from!Continue Reading

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