Nowadays, finding the right credit card can save you thousands, not hundreds, of dollars a year. Every dollar counts whether you are looking for valuable offers such as lower rates, higher rewards, travel medical insurance, or taxi savings. If you use your credit cards wisely, pay your balance monthly and find a gift program that suits you, then you are sure to come forward. It has a lot of credit card options, and finding the best deal can be a challenge – but here is a list of the best credit cards in Canada to help.
Best Card for Improving Credit Scores: Home Trust Secured Visa
The HomeTrust Secure Visa is one of the most accessible and affordable credit card loans available. You will be given a monthly report to the credit bureau to raise your credit score as soon as possible, and almost everyone who applies will get approval. HomeTrust Secure Visa allows you to set your credit limit based on your deposit. Significantly, the minimum deposit is $ 500, but you can go up to $ 10,000 if you prefer. You can use the HomeTrust Secure Visa just like any other credit card, both in-person and online. Furthermore, it is recognized worldwide as a Visa Credit Card and is accepted by almost every merchant.
One of the unusual features of this security card is that it comes in two different card options with different annual fees and interest rates. And average, you can pay an annual fee of 19.99% interest or pay a yearly fee of $ 59. As you should do to ensure a healthy financial future, the annual toll-free option is best suited for those who can pay on time each month. However, if you need to keep a balance from time to time, you can give a shield by adding a higher interest rate to the lower interest rate option.
Best Cash Back Card: CIBC Dividend Visa Infinite Card
The card starts with a new cardholder 10% Refund Bonus (up to $ 200) and First Year Annual Fee Discount! Regular cashback rates on the CIBC Dividend Visa Infinite card on this excellent welcome bonus add to the long-term value of the card. It offers the highest repayment rate on the market for qualified gas and grocery purchases, offering a return of 4% on the two categories that typically cost the most Canadians. Anyone who spends at least $ 250 a month on gas and groceries will earn enough money to pay an annual fee of $ 120 a year.
The CIBC Dividend Visa Infinite Card may seem appropriate to you. Still, if you do not meet its annual revenue requirements, you should consider the CIBC Dividend Platinum Visa card instead. It has the advantageous withdrawal features of the CIBC Dividend Visa Infinite card but with a less robust insurance package and a minimum annual household income requirement of only $ 15,000.
Best Travel Rewards Card: TD Aeroplan Visa Infinite Card
The TD, Aeroplan Visa Infinite card, is superior to other travel cards because of its privileged Air Canada benefits, travel insurance, daily purchase airplane points, and generous introductory bonuses. During your first year alone, you will receive 10,000 airplane points (after the first purchase) and an annual fee discount of $ 139, which does not include all the airplane points you earn by spending regularly. At retail, gas, Starbucks purchases (until November 7, 2021), and on Aircanada.com, you add 1.5 points for every $ 1 spent, and then everywhere else, add 1 point for every $ 1. New cardholders who apply before December 5, 2021, can earn up to $ 1,250 in value.
Aeroplan points can be availed for Air Canada flights, allowing you to bag up to 8 people with a free check-in and priority check-in and landing. The TD Aeroplan Visa Infinite card also exceeds insurance expectations, with $ 1 million in travel medical coverage for 21 consecutive days. Coverage for travel cancellations and disruptions, damage to a taxi, travel and luggage delays, and public car accidents. You also get global discounts on vehicle purchases in Avis or budget locations, security, and a long-term warranty.
Best Student Creidt Cards In Canada: BMO CashBack Mastercard
Most student credit cards offer relatively low repayment rates and additional features. Still, the BMO CashBack Mastercard is a card designed for the ‘normal’ credit market that has chosen to extend BMO. The result is a rare credit card that students can access but still offer attractive value.
BMO CashBack Mastercard is Suitable for any student, but especially for relatively independent students who spend a considerable amount of money on groceries. Students who can set aside a small portion of their budget for groceries (for example, those who live with their parents and benefit from a continuously stored refrigerator) may consider a high-income CIBC Dividend Visa card instead. Purchase rate outside of groceries and recurring bills.
Best Business Card: American Express Business EdgeTM Card
The American Express Business Edge TM Card caters to Canadian business owners and receives three membership prizes for every $ 1 spent on gas and transportation. This always ensures a steady stream of earnings and can add further value to a good bonus structure.
You will receive 1,000 points each month when your expenses reach $ 3,000, which means up to an additional 12,000 points per year. Add to that the one-time introductory bonus of $ 45,000 for $ 5,000 when you spend your first six months, and your first year may include 57,000 points more than your regular earnings! Amazon.ca covers points for travel, entertainment, food, merchandise, and more, as well as card purchases, employee misuse, and car rentals. The combined value of the card is a steal for its $ 99 annual fee.
Best Premium Card: The Platinum Card
The Platinum Card is perhaps the most widely accepting premium credit card in Canada. It has a reputation for offering a unique look and privileges not available to many other cardholders. The card earns 2 points for every $ 1 spent on travel, 3 points for every $ 1 spent on food, and a point for every $ 1 anywhere else. After spending $ 6,000 in the first three months of Industrial Membership, the industry’s best earnings rates will be supplemented with special privileges such as an introductory bonus of 80,000 points.
A $ 200 annual travel loan for 14- to 17-month card membership purchases and free access to more than 1,200 airports in more than 130 countries worldwide. Another feature of the card is that it offers access to special events and restaurants, late departures, free breakfasts at qualified hotels, and much more. Add world-class travel insurance, and its $ 699 annual fee is reasonable.
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