Unpopular 6% Cashback Alternative.
Like many of us, I also use the Scotiabank Momentum for that sweet 4% cash back. But this year I started to dig thru some alternative foreign cards that would give me an additional cash back percentage.
We know that foreign cards have a 2.5% processing fee, so unless there is a card that gives a higher percentage, then using them may not be worth it.
I know everyone's opinion about crypto cards, etc, etc. Alas, I have been experimenting with a crypto card brand named Tria.
I have also tested this card in Chexy a couple of times, and it worked just well, I expect my next rent payment to use this same Tria card.
How much cash back does Tria offer?
I currently have the paid highest Tier, which was around 200 dollars when I bought it. There are some lower tiers but you want to get the premium version.
2.5% Chexy fee, plus 1.5% Tria processing fee, combined 4% in fees. At a 6% cashback monthly, that leaves the card with a sweet 2% cash back surplus.
There is a monthly cap of 2,000 USD per month to get 6% cash back, then 1% after that.
At $2000 per month, 2% cash back is $40 per month and $480 yearly, minus the card fee is approx $250 per year in surplus.
Keep in mind the yearly fee is sometimes lowered, there is welcome bonuses and referrals that help lowering the cost.
There is a monthly cap of 2,000 USD per month to get 6% cash back, then 1% after that.
So far with Tria I have earned back the annual fee, they provide cash back and their own token. Again risks of crypto, but at the end of the day any surplus is welcomed.
Please be aware of risks of owning a crypto card, this is for experimenting. DM me if you have any questions.