Img HomerCredit cards are a necessary evil in today’s society. You need to have one or two for (a) the convenience when no other method of payment will do, and (b) to ensure you are building and maintaining a healthy credit score.

Over the past year, my personal favourite has become the Infinite card from TD Visa.

Money Matter № 102

[important]Teach your kids everything you can about money matters as early as possible – and keep doing so till they stop listening to you.[/important]

There are websites which track this sort of thing, specifically to advise you which are the ‘best’ cards out there – and their approach is certainly more scientific than mine.

My reasons are simply that this card has provided me several measurable benefits over the past twelve months – which more than justify the annual fee.

Insurance coverage on trips – if I pay for a trip with my Infinite card, I automatically have travel insurance – medical, lost luggage, cancellation and interruption, etc. for up to one week. Given I prefer short trips over long ones, this benefit has come in very handy.

Car rental insurance coverage – twice my car was in for extended repairs and I had no worries about extra insurance costs.

Purchase protection – ever lost or broken something valuable just after you bought it? Well, we knocked over a flat screen tv a few days after buying it on the Infinite card – clearly our fault, not a manufacturer defect – and the card provides full insurance against such idiocy.

Rewards – every self respecting premium credit card offers you a reward for usage. The TD Infinite award structure is very simple and effective. You earn points which convert to dollars, which you can then apply to any type of travel booking you like.

TD Rewards has a travel agency, so you just book your travel through them, and they immediately reduce the purchase cost by the dollar value of your rewards – no blackouts, no restrictions.

Other – Like most of us, I don’t actually read the literature when I receive a new card in the mail – it gets filed away, just in case. I am sure this card has many more benefits I have not listed. And I am equally sure there are competitive cards in the marketplace.

TD Rewards has a travel agency, so you just book your travel through them, and they immediately reduce the purchase cost by the dollar value of your rewards – no blackouts, no restrictions.

Find one that works for you and your needs, and stay faithful to it – you should be ahead by hundreds of dollars each year.

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