Why does JMV (Milesopedia’s founder) carry six credit cards?

Each of the six cards in JMV’s wallet covers a different optimization layer:- American Express Cobalt® Card — 5x on groceries, restaurants, and food delivery; - Scotiabank Passport® Visa Infinite — no FX fees + 6 lounge visits; - Marriott Bonvoy® Amex® — annual free night certificate; - National Bank World Elite Mastercard — backup for Amex-refusing merchants + 5x dining; - TD Aeroplan Visa Infinite — free first checked bag for the family; - American Express Platinum Card® — unlimited lounge access + Hilton Gold; The combined annual fee load is offset by welcome bonuses and category multipliers worth several thousand dollars per year.

Which one card would JMV keep if he had to pick just one?

For most Canadian households, the answer is the American Express Cobalt® Card. At 5 Membership Rewards points per $1 on groceries, restaurants, and food delivery, no other card matches its everyday earn rate on the categories where households spend the most. Membership Rewards points transfer 1:1 to Aeroplan and 1.25:1 to Marriott Bonvoy, so you keep the flexibility to redeem for either flights or hotels. The monthly $12.99 fee model also makes it easy to test before committing to a full year.

Why pair an Amex with a Mastercard or Visa?

Amex acceptance in Canada is roughly 65–70%, vs. 99%+ for Visa and Mastercard. Smaller merchants, some rural gas stations, and most Quebec dollar stores still refuse Amex. JMV pairs his Cobalt® card with the National Bank World Elite Mastercard precisely for those moments — the Mastercard earns up to 5 points per $1 on groceries and dining at non-Amex merchants and includes superior travel insurance with up to $5M emergency medical. That dual-card setup ensures every dollar stays optimized, regardless of where you swipe.

Are six cards too many for the average Canadian?

For someone new to points, two cards are enough:- One everyday rewards card (Cobalt®, MBNA Rewards World Elite, or Scotia Passport); - One backup Visa or Mastercard for places that don’t take Amex; Add a third card — usually a premium travel card with lounge access — only once you’re comfortable tracking spending across multiple statements. JMV’s six-card setup is the result of years of optimization, not a starting point. Build up gradually as your travel and spending volume grows.