best credit cards

Photo: Sean MacEntee/Flickr

The following is a guest post by RateHub.ca, Canada’s leading financial product comparison website. RateHub.ca’s tools, calculators and education centres are designed to empower users to make smart financial decisions.

When you buy your first condo, it’s normal to want to fill it with new things and make it feel like home. With images of what you’ve seen on Pinterest in the back of your mind, it’s not always easy to stop yourself from buying everything new all at once – and if you have the cash, you shouldn’t have to! Of course, we know it’s better to use a credit card when you make any purchase (so long as you can pay it off right away), because of all the potential free rewards out there. Here are some of our favourite credit cards for new condo owners, including strategies on how to use them to get the maximum rewards from each one.

Furniture

furniture credit card

Photo: Ines Hegedus-Garcia/Flickr

More than anything else, a good bed and a comfortable couch are two pieces of furniture we can’t live without. Unfortunately, both often come with big sticker prices. A decent queen-sized bed is typically $1,000 or more, and we’re no longer shocked when we see couches priced for double that amount. Before you buy either of these big-ticket items, think of the rewards you could earn, if you paid with the right credit card. The SimplyCash Card from American Express, as an example, gives you 1.25% cash back on all purchases. If you spent $2,000 on furniture, that’s a free (because it has no annual fee) $25 back in your pocket. The card also gives you 5% cash back on gas/groceries/restaurants for the first 6 months!

Kitchen Stuff

condo kitchen

Photo: Brad Coy/Flickr

Even though it doesn’t usually need much in the way of furniture, the kitchen is one of the most expensive rooms to put together. From cutlery and dishware, to small appliances and cookware, it’s not hard to spend a good chunk of change on everything you need to prepare and eat your meals. If you’d like to getaway and have someone else cook for you, once in a while, consider using a travel rewards credit card to buy all your kitchen stuff with. Our favourite is the Scotiabank Gold American Express Card, which will give you 1 point per $1 spent on all your new kitchen stuff – and 4 points when you use it to pay for gas/groceries/restaurants and entertainment. If free hotel stays are more your thing, you can also look at the Marriott Rewards Premier Visa Card. The more you use these cards, the quicker you’ll be able to getaway for free – and all while just doing your regular shopping.

Patio Dressings

condo balcony furniture

Photo: daryl_mitchell/Flickr

Finally, if you’re lucky enough to have a little bit of patio space, make sure you use it! Everyone’s décor style is different, but you’ll likely want something in the way of furniture to sit on, a small table, and maybe a plant or two. Before you run out to the store to buy it all, think about which credit card you’re going to use to pay for it. The Scotia Momentum Visa Infinite will give you 1% cash back on those purchases, as well as 4% cash back on gas/groceries and 2% cash back on drugstore purchases and recurring bill payments. Every November, the cash back will be applied to your bill as a payment, which can save you big right before the holiday season begins!

Of course, you could use any of these rewards credit cards to buy the things we’ve listed – we just wanted to get you thinking about how to get a little bit of a return for every dollar you spend. You can read more about these and the other best credit cards in Canada on our site. Happy shopping!

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