Prepaid Credit Cards vs. Prepaid Gift Cards + MORE Apr 23rd

By now you are most likely familiar with our Guide to Amex Offers page where we summarize all the limited time offers and provide a guide on how to access them. We have now set up the feature for RBC in our new Guide to RBC Royal Bank ‘RBC Offers’. It follows the exact same format as our Amex guide by listing the current offers followed by a guide on how to use them.  Check out the feature here. This feature will most definitely need the help of the Rewards Canada community as we only hold the WestJet card in our household – so if you have the Avion, BA or Cathay Pacific cards please let us know if you have any other offers available to you!American Express has now confirmed the duration of the increased Use Points for Purchases redemption offer. You have until September 30 to redeem points for any purchase made on your cards at the 1,000 points for $10 rate. This is instead of the standard 1,000 points for $7 and is for cards like the American Express Cobalt Card and Gold Rewards Card…

If you’ve ever had to shop for “that” person in your life — the one who already has everything — you know that gift cards can be a lifesaver. They’ve been around for almost 26 years, growing into an essential part of any retail business.
More recently, prepaid gift cards branded with payment networks have been gaining popularity. These cards feature major credit card issuers like Visa, Mastercard, and American Express. Without limiting the user to one shop, these cards can be used in-store, online, and almost anywhere credit cards are accepted.
Similarly, financial institutions have created the prepaid credit card, not to be confused with the above gift card option. These two types of cards have several similarities but differ in some fundamental ways. Here’s our take on which option should end up in your wallet.
What’s the Difference Between a Prepaid Credit Card and a Prepaid Gift Card?
To start, here are the types of cards typically offered:

Retail gift cards: These cards are offered through a single brand or chain—for example, your favourite store or restaurant…

If you’re looking for a card that will help you earn cash back on purchases, and don’t want the bother of managing different spending categories or bonus tiers, look no further than the American Express SimplyCash Preferred. With a return of 2% back on every dollar spent, this is the best flat-rate cash back card in Canada. Cardholders gain access to premium perks, and new members are bonused with a whopping 5% back for a full six months.
SimplyCash Preferred from American Express*

Annual fee
$99

Rewards
2% cash back on everything

Welcome offer
Earn 5% for the first 6 months (up to $300)

Income requirement
None specified

Annual interest rate
19…

BMO tends to not change up the welcome bonus offers on their credit cards as frequently as other card issuers so we have become accustomed to the current offer on this and other BMO cards. The current welcome bonus on the BMO AIR MILES World Elite Mastercard has actually been around since April 1, 2019!We now know the next offer for the BMO AIR MILES World Elite Mastercard won’t be as rich as this offer that ends on April 30. It’ll be decent but not as decent as the current bonus of up to 3,000 AIR MILES Rewards Miles with the first year annual fee waived.  The bonus is broken down as 1,000 miles on your first purchase followed by 2,000 more miles when you spend $3,000 on the card within the first three months of having it. This offer is the richest AIR MILES credit card offer in market right now and in fact has been one of the Top 5 cards for welcome bonuses for months on end as that 3,000 miles with no annual fee is worth no less than $330 towards travel or about $315 in cash if your AIR MILES account is set to earn Cash Miles…