Posted on: 26-10-07 13:04:49
Advantage having Gold Card (Also depends which Gold Card you have)
Always buy tickets for Air Travel using your gold card
- Travel insurance
- Medical Insurance (I had operation in India (if no prior problem) and was able to get full amount after $200 deductible)
- Flight changes if you sick and cannot travel etc.
If you are here Canada
- If renting - You can save on Collision Damage Insurance (around 14-20 dollars per day) - I had some body rear end on my rental - I did not pay a cent.
- Any purchase the Warranty doubles up to a Year. So 1 year warranty, you will get 1 extra year warranty form the Credit Card company
- Any purchase stolen from you Car will be covered
Normal Cost is $100 per year for Gold Card
I have TD Gold Elite which has
- Auto club - I need not have CAA (60 bucks saving). Called few times no charge
- 1% cash back on my purchases
In my situation I have the Gold card free as maintain 5K balance in my account
- Saving of $100 bucks
- Free Locker
- Free Transactions
- Free Bank Drafts/Certified cheques
So it Gold Card has advantages. Draw back is $100 dollars - but you can get it back if you are in a cash back scheme and if are spending 10000 per year using your Card
Initially got the Secured Gold Card as soon as I landed in Canada as I knew I will rent car for house hunting, Giving interviews etc. After 3 months asked for the security to be removed.
Some other Gold Cards will have more benefits and depending on your situation. Shop around
can you give the bank website links for -
- Free Locker
- Free Transactions
- Free Bank Drafts/Certified cheques
Hello
There is nothing free. You have to maintain 5k balance for the free Gold Card, Locker, Free certified Cheques/draft and I guess free American Express Travellers Cheques(not sure) . Please go to any TD branch they will help you out.
Quote:
Originally posted by jayaram
Hello
There is nothing free. You have to maintain 5k balance for the free Gold Card, Locker, Free certified Cheques/draft and I guess free American Express Travellers Cheques(not sure) . Please go to any TD branch they will help you out.
You are right. Nothing is free.
TD Bank will make money on your $5000 monthly balance which even with a meagre 5% would be $250 for the whole year and it would take care of these free transactions, small locker rent, cheques and certified cheques etc. Moreover, if in any particular month the balance dips below $5000, the bank would charge you $24.95 for that particular month.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
