Best Credit Cards in Canada – There are several credit card options which allow customers to earn points, rewards or to save on credit card costs.
While deciding on which credit card they should choose, need to shop around, consider different offers of Best Credit Cards in Canada.
Also choose the one which allows them to save on several costs or maximize their rewards. There are the best credit cards of their categories listed below:
Best No-Fee Credit Card in Canada
Tangerine Money-Back Card comes up with 4% cash back, 1.95% balance transfer offers. Customer can choose up to 3 spending categories to earn 2% cash back for each purchase they make. These categories may include gas, entertainment, transportation, improvements, etc. For all other spending categories (outside of the 3 they have chosen), customers can get 0.50% cash back which will be paid off monthly. Also, customers will not be charged annual fees which means they can save on credit card costs.
Best Cash-Back Credit Card
Customers with a minimum income of at least $60,000 can apply for a Scotia Momentum Visa Infinite Card and they will be charged $120 annual fee which will be waived in the first year. What makes that cards special is the amount of cash back customers can get:
4% cash back = groceries, bills and subscription payments
2% cash back = gas, transportation
1% cash back = anything
Best Travel Rewards Credit Card
Customers with a minimum income of $12,000 can apply fora ScotiaBank Gold American Express to benefit from not only its high reward rate but also travel insurance. Customers will be charged $120 annual fee but $0 foreign transaction fees. If they spend up to $1,000 in the first three months, yet will earn 25,000 bonus points which is equal to $250. ( Loans in Canada) Afterwards, they will earn 1 point for every dollar they spend on everything else.
Best Credit Cards in Canada Prepaid Credit Card
The Stack Mastercard neither requires applicants to meet the minimum income eligibility criteria nor charges them an annual fee. Customers will not be charged any foreign currency exchange fees or ATM withdrawal fees as well. Instead, they will be paid off $5 sign up bonus and get instant cash back on all purchases.
Best No Foreign Transaction Fee Credit Card
ScotiaBank Passport Visa Infinite Card is extremely popular among travelers since it comes up with 0$ foreign transaction fee offer. Also, they earn 350,000 bonus points when they sign up. Applicants need to meet the minimum income eligibility criteria ($60,000) and will be charged $120 annual fee.
Best Credit Cards in Canada for Balance Transfer
For those who want to consolidate their credit card debts, The MBNA True Line Gold Mastercard is a good option since it offers no balance transfer rate for 6 months and 8.99% interest rate on purchases.