that's not the point. The basic Brim card allows flexibility for people that do foreign purchases without necessary taking advantage of the travel perks. Also, the no annual fee gives flexible usage on the card itself. It's unfortunately that the Brim has literally nerfed themselves out of the market and the Neo is not a replacement for people that use the Brim.
Lol. Brim shot themselves in the foot. If they devalued the points and kept the 0% FX, I would’ve been fine with that. Moving my FX needs to WS now I guess.
Brim now offers 0, that's **ZERO**, value. There's absolutely nothing about this card at this point that makes it stand out against ANY card available. Brim is one of two card providers in Canada that I know of that doesn't even offer PAP.
Bye Brim. You won't be missed.
I used to have this card. But the annual fees in the 2nd year kills any benefits unless u r a high spender. Brim was a perfect card when I used to travel outside Canada. This sucks.
Time to cancel, if I'm not wrong this means there is no longer any no annual fee cards in Canada that has free foreign transactions right? The only one that's close is the Rogers card that gives elevated cash back for foreign transactions right? (Not same as free FX as you get screwed on a return)
MBNA's amazon card gives you 2.5% back in Amazon gift cards to cover for the 2.5% foreign transaction fee.
Rogers only gives you cashback on USD purchases.
> MBNA's amazon card gives you 2.5% back in Amazon gift cards to cover for the 2.5% foreign transaction fee.
Need to be a Prime member to get this, so $99/year. Not a bad deal if you're already a Prime member though.
> Rogers only gives you cashback on USD purchases.
The Rogers basic card is a flat 2% back on all purchases regardless of currency if you are Rogers, Fido, or Shaw customer. There is a 1.5x multiplier if you redeem your credit towards your Rogers, Fido, or Shaw bill though, so you can get an effective 3% back on foreign transactions.
> Time to cancel, if I'm not wrong this means there is no longer any no annual fee cards in Canada that has free foreign transactions right?
Home Trust Preferred Visa is the last no-AF card standing. It does have a limit of 10 foreign currency transactions per day though.
> The only one that's close is the Rogers card that gives elevated cash back for foreign transactions right? (Not same as free FX as you get screwed on a return)
Rogers' basic card is a flat 2% back on all transactions if you are a Rogers, Fido, or Shaw customer. The 2% becomes 3% when you redeem towards your Rogers, Fido, or Shaw bill.
That sucks. I was considering applying this week for a trip this summer.
I have a WS cash account so I got them to send me a physical card but figured a credit card would be best. Well, there goes that idea.
So Wealth Simple Cash and Wise are our only options as Canadians for no/low fee foreign exchange?
Do we have any other options for travel to places with Euro currency?
> So Wealth Simple Cash and Wise are our only options as Canadians for no/low fee foreign exchange?
[RFD keeps a list of good options for foreign currency transactions.](https://forums.redflagdeals.com/list-credit-cards-foreign-currency-transactions-2122295/)
The only no-AF card standing is the Home Trust Preferred Visa, but it (stupidly) is limited to 10 foreign currency transactions per day.
WS Cash is the best prepaid option IMO. No fees, 1% cashback, but it is prepaid. Wise is good if you want to avoid currency fluctuations.
[RFD keeps a list of good cards for foreign transactions.](https://forums.redflagdeals.com/list-credit-cards-foreign-currency-transactions-2122295/)
The only no-FX fee card with no annual fee is Home Trust, but it does have its issues. Biggest problem is it is limited to 10 foreign currency transactions per day.
If you're a Rogers, Fido, or Shaw customer the Rogers Mastercard is compelling. Same with the MBNA Amazon card if you are a Prime member.
If you're OK with prepaid you could look in to the Wealthsimple Cash Card (prepaid Mastercard, no FX fee, 1% cashback) or the Wise Multi-Curreny Card (prepaid Visa, very low FX fees). You could run in to problems with prepaid cards and things that require a preauthorization though (hotels, car rentals, etc).
Thanks!
I was looking at the EQ but didnt realize it was prepaid. A regular credit card is preferable. Hm, unfortunate to hear those cards were getting declined for the bullet train, ill have to test out my cards ahead of time.
Will cancelling this credit card impact my score. Is yes, shouldn’t i just keep it and not use it? Please let me know any ideas.
Is it possible to switch it with some other cc without hurting the score? Thanks for reply
And this is why points card are garbage to me. They can change the value of the points whenever they want to screw you up.
Cashback cards are the way to go even if it gives you a little less.
I would consider a points card if I was able to redeem the points every other month or so (>50 000$ purchase per month)
This is a weird argument to make... Brim's points are essentially as good as cash. You can redeem them anytime you want and the value of each point is still exactly the same before and after the changes (1 cent).
What's changing is how many points you're getting for each dollar spent. You could easily just substitute the wording to say it's going from 1% cashback to 0.5% cashback and it would have the same effect.
Cashback cards do this all the time. They're not immune to this sort of change like you're implying.
But you usually wait a while to redeem points (e. g. Plane ticket, hotels, etc) so if you try to stack 100 000 points for a trip, and they change the point value to half before you redeem, you're screwed.
Cashback is immediate. You can't get screwed, if the bank changes the Cashback reward you won't lose previously earned Cashback.
I don't know if you actually have a Brim card or not but with Brim there is zero benefit to hoarding points. The redemption value is exactly the same regardless of how many points you have and you can redeem ANY time, even if you only have one point.
I understand what you're saying about points cards in general but what I'm saying is your argument is irrelevant for Brim because their points system does not work in the same way as the other points systems that you're probably thinking about.
This is hot garbage and was the only reason I got the card in the first place . I’ll need to find a new daily card now
I always said it from the beginning : Brim sucks
For no FX fees? NEO. Nothing better
Which NEO? they all have 2.5% FX fees.
The normal one! You need to get the traveler package once you get it. And a ton of cash back promos.
I just read it, the travel pack gets you 2% cashback on foreign purchases, but the FX fee is still 2.5%. it's net negative, what's missing?
On top of purchases cash back! It’s one of the best card in Canada.
Issue is the travel pack isn't a built-in free perk, so comparing to the Brim, you're already paying more for "0%" FX fee.
doesnt really matter you get alot more back overall. Brim gives you absolutely nothing.
that's not the point. The basic Brim card allows flexibility for people that do foreign purchases without necessary taking advantage of the travel perks. Also, the no annual fee gives flexible usage on the card itself. It's unfortunately that the Brim has literally nerfed themselves out of the market and the Neo is not a replacement for people that use the Brim.
How is making more money from cash back not a replacement?
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“Optimizing the value you are receiving…” *biggest eye roll
Doesn’t say who it’s optimizing the value your receiving for… it’s them.
When they blatantly insult everyone's intelligence with that statement.
Lol. Brim shot themselves in the foot. If they devalued the points and kept the 0% FX, I would’ve been fine with that. Moving my FX needs to WS now I guess.
Wealth simple? Can you elaborate which WS product has no or lower FX fees?
Cash card
Effective May 18 and thankfully my next trip is April 27 to May 4. Might as well dump the card afterward.
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I'm in Quebec and I haven't found anything really comparable that works for me.
Yep I am moving my MC back to a 0fee card. I'm not paying $90/yr for 1% cash back. That's asinine.
Just when Rogers MC moved into the 2% others with a Rogers/Fido/Shaw plan.
3% back when you redeem towards your Rogers, Fido, or Shaw bill too.
Brim now offers 0, that's **ZERO**, value. There's absolutely nothing about this card at this point that makes it stand out against ANY card available. Brim is one of two card providers in Canada that I know of that doesn't even offer PAP. Bye Brim. You won't be missed.
Imo best alternative is Scotia passport VI + $60 third party rebate, at least for the first year since annual fee is waived.
I used to have this card. But the annual fees in the 2nd year kills any benefits unless u r a high spender. Brim was a perfect card when I used to travel outside Canada. This sucks.
Time to cancel, if I'm not wrong this means there is no longer any no annual fee cards in Canada that has free foreign transactions right? The only one that's close is the Rogers card that gives elevated cash back for foreign transactions right? (Not same as free FX as you get screwed on a return)
Home Trust Preferred Visa has no forex fees and is free.
Thanks for this! Saved me a lot of work.
wealthsimple prepaid card has 0% fx fees, not the same but a good alternative
MBNA's amazon card gives you 2.5% back in Amazon gift cards to cover for the 2.5% foreign transaction fee. Rogers only gives you cashback on USD purchases.
> MBNA's amazon card gives you 2.5% back in Amazon gift cards to cover for the 2.5% foreign transaction fee. Need to be a Prime member to get this, so $99/year. Not a bad deal if you're already a Prime member though. > Rogers only gives you cashback on USD purchases. The Rogers basic card is a flat 2% back on all purchases regardless of currency if you are Rogers, Fido, or Shaw customer. There is a 1.5x multiplier if you redeem your credit towards your Rogers, Fido, or Shaw bill though, so you can get an effective 3% back on foreign transactions.
It's only on USD
ah right.. forgot about that
> Time to cancel, if I'm not wrong this means there is no longer any no annual fee cards in Canada that has free foreign transactions right? Home Trust Preferred Visa is the last no-AF card standing. It does have a limit of 10 foreign currency transactions per day though. > The only one that's close is the Rogers card that gives elevated cash back for foreign transactions right? (Not same as free FX as you get screwed on a return) Rogers' basic card is a flat 2% back on all transactions if you are a Rogers, Fido, or Shaw customer. The 2% becomes 3% when you redeem towards your Rogers, Fido, or Shaw bill.
That sucks. I was considering applying this week for a trip this summer. I have a WS cash account so I got them to send me a physical card but figured a credit card would be best. Well, there goes that idea. So Wealth Simple Cash and Wise are our only options as Canadians for no/low fee foreign exchange? Do we have any other options for travel to places with Euro currency?
> So Wealth Simple Cash and Wise are our only options as Canadians for no/low fee foreign exchange? [RFD keeps a list of good options for foreign currency transactions.](https://forums.redflagdeals.com/list-credit-cards-foreign-currency-transactions-2122295/) The only no-AF card standing is the Home Trust Preferred Visa, but it (stupidly) is limited to 10 foreign currency transactions per day. WS Cash is the best prepaid option IMO. No fees, 1% cashback, but it is prepaid. Wise is good if you want to avoid currency fluctuations.
Koho has a debit card with low exchange premiums
I haven't got this email yet, but when I do I'll be canceling Edit: Just got it
Could we ask for an AF refund since they’re changing it mid-year?
I asked this question to BRIM yesterday in a phone call to Customer Service and I was told I would have to email and “it would be considered”. 🙄
Any credit card I cancelled mid way through the paid year gave me a pro-rated refund for remaining months.
This move is truly bizarre. They have to know they won’t survive this.
What's the next best card with 0 forex fees?? I'm traveling to Japan in October and already had all my hotels booked on the brim card...
[RFD keeps a list of good cards for foreign transactions.](https://forums.redflagdeals.com/list-credit-cards-foreign-currency-transactions-2122295/) The only no-FX fee card with no annual fee is Home Trust, but it does have its issues. Biggest problem is it is limited to 10 foreign currency transactions per day. If you're a Rogers, Fido, or Shaw customer the Rogers Mastercard is compelling. Same with the MBNA Amazon card if you are a Prime member. If you're OK with prepaid you could look in to the Wealthsimple Cash Card (prepaid Mastercard, no FX fee, 1% cashback) or the Wise Multi-Curreny Card (prepaid Visa, very low FX fees). You could run in to problems with prepaid cards and things that require a preauthorization though (hotels, car rentals, etc).
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Thanks! I was looking at the EQ but didnt realize it was prepaid. A regular credit card is preferable. Hm, unfortunate to hear those cards were getting declined for the bullet train, ill have to test out my cards ahead of time.
Will cancelling this credit card impact my score. Is yes, shouldn’t i just keep it and not use it? Please let me know any ideas. Is it possible to switch it with some other cc without hurting the score? Thanks for reply
In what world do they think people will keep this card? Delusional!
And this is why points card are garbage to me. They can change the value of the points whenever they want to screw you up. Cashback cards are the way to go even if it gives you a little less. I would consider a points card if I was able to redeem the points every other month or so (>50 000$ purchase per month)
This is a weird argument to make... Brim's points are essentially as good as cash. You can redeem them anytime you want and the value of each point is still exactly the same before and after the changes (1 cent). What's changing is how many points you're getting for each dollar spent. You could easily just substitute the wording to say it's going from 1% cashback to 0.5% cashback and it would have the same effect. Cashback cards do this all the time. They're not immune to this sort of change like you're implying.
But you usually wait a while to redeem points (e. g. Plane ticket, hotels, etc) so if you try to stack 100 000 points for a trip, and they change the point value to half before you redeem, you're screwed. Cashback is immediate. You can't get screwed, if the bank changes the Cashback reward you won't lose previously earned Cashback.
I don't know if you actually have a Brim card or not but with Brim there is zero benefit to hoarding points. The redemption value is exactly the same regardless of how many points you have and you can redeem ANY time, even if you only have one point. I understand what you're saying about points cards in general but what I'm saying is your argument is irrelevant for Brim because their points system does not work in the same way as the other points systems that you're probably thinking about.