The Best Credit Cards to Use at Pharmacies

Alyssa Furtado
by Alyssa Furtado June 26, 2015 / No Comments

Do the cashiers at your local drug store know you by name? Do you often find yourself perusing the shelves on your way home from work, stocking up on cold medication and Kleenex, keeping an eye on clear-out sales and per-unit costs? If so, then you probably know that pharmacy costs can add up fast — and you also know the cruelty of having to pay full-price for meds when you’re sick and can’t do without.

If drug store purchases take up any portion of your budget, you should get some rewards out of it. Here are 3 of the best credit cards in Canada to use at pharmacies.

* To compare the annual return of each card, we assumed a family spent $350 at pharmacies each month and didn’t use the card anywhere else.

1. TD Aeroplan Visa Infinite Card

TD Aeroplan Visa Infinite Card

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  • Receive up to 20,000 Bonus Aeroplan Miles
  • Earn up to 1.5 points per dollar spent
  • Annual fee rebate for the first year–that’s $120 in savings

 

Annual Fee Sign-up Bonus Spending Rewards Monthly Spending First Year Return
$120

(100% rebate for the first year)

$240 1.5 points per $1 spent on gas, groceries, and pharmacy

1 point per $1 on everything else

1.5 points x $350 on pharmacy = 525 points per month

Value of 1 point = $0.012

525 points x $0.012 = $6.30 per month

Sign-up: $240

Spending Rewards: $6.30 x 12 = $76

Annual Fee: $0

Total: $240+$76-$0 = $316

Return: $316/$4,200 per year = 7.5% return

With extra points on drug store purchases, the TD Aeroplan Visa Infinite may be the ideal card for you if you find yourself hitting the pharmacy often. And if you get the travel bug (see what we did there?), you’ll also get a variety of travel insurance policies (baggage loss, trip cancellation and accident insurance), and some incredible Air Canada perks, like priority check-in and access to the swanky VIP lounges.

2. American Express Gold Rewards Card

American Express Gold Rewards Card

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  • $150 annual fee (waived in the first year)
  • Earn a welcome bonus of 25,000 Membership Rewards points when you charge $1,500 in purchases to your card in your first three months
  • Earn two points for every $1 spent at eligible gas stations, grocery stores and drugstores in Canada
  • Convert your Membership Rewards points to Aeroplan Miles or Avios on a 1:1 basis

 

Annual Fee Sign-up Bonus Spending Rewards Monthly Spending First Year Return
$120

(waived for the first year)

$250 2 points per $1 spent on gas, groceries, travel, and pharmacy

1 point per $1 on everything else

2 points x $350 on pharmacy = 700 points per month

Value of 1 point = $0.01

700 points x $0.01 = $7 per month

Sign-up: $250

Spending Rewards: $7 x 12 = $84

Annual Fee: $0

Total: $250+$84-$0 = $335

Return: $335/$4,200 per year = 8.0% return

You can earn some incredible travel rewards (and double points on all your drug store purchases) with the American Express Gold Rewards Card. A 25,000-point bonus will give you the wings to travel almost anywhere in North America, if you spend $500 in the first 3 months, and the card also comes with a variety of travel insurance benefits to give you some peace of mind while you’re off adventuring.

3. BMO World Elite MasterCard

BMO World Elite MasterCard

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  • Earn two points per dollar on all purchases
  • Limited time! Get a $300 travel credit
  • VIP Airport Lounge Access* with the included annual Priority Pass membership (valued at US$99), along with 4 complimentary passes per year (valued at US$27 each)

 

Annual Fee Sign-up Bonus Spending Rewards Monthly Spending First Year Return
$150 $300 2 points per $1 spent

 

2 points x $350 = 700 points per month

Value of 1 point = $0.01

700 points x $0.01 = $7 per month

Sign-up: $300

Spending Rewards: $7 x 12 = $84

Annual Fee: $150

Total: $300+$84-$150 = $234

Return: $234/$4,200 per year = 5.6% return

When it comes to the BMO World Elite MasterCard, the insurance is the real perk here, with best-in-class travel medical insurance, emergency medical coverage, trip cancellation, trip delay, car rental insurance, baggage loss and more. You’ll also get the star treatment with Priority Pass access to VIP airport lounges, which can save you up to $200 per year. Just note that this card requires a family income of $120,000 or a personal income of at least $70,000.

Flickr: Julep67