Canadian financial institutions offer credit cards to customers from different walks of life, corporate entities, small business owners, and other entities.
Canadian Credit Cards
The best Canadian credit card products feature affordable rates on balance transfers and purchases, high limits, and incentives such as cash rewards, promotional offers, and gift cards. Some of the best Canadian credit cards are offered by MBNA, CIBC, TD, RBC, and other big banks. There are great card benefits such as airline credit, travel convenience, quick and convenient money transfers, and others. With credit cards Canada based customers benefit from exclusive and bespoke offers, incentive programs, and secure payment options. To offer the best credit cards Canada based financial establishments add incentives and perks such as family entertainment, theatre, sports, comedy, and music tickets. Looking for the best credit card Canada customers also consider perks such as electronic goods, free flights, in-flight entertainment, and high payouts.
Credit Cards for Bad Credit
Some issuers offer prepaid, secured, and gift cards. There are different Canadian credit cards for bad credit that help users to build a solid history. Responsible use and timely payments are the key. A credit card for bad credit comes with a limit that is normally equal or lower than the sum deposited. Shopping for credit cards for bad credit Canada residents find offers by big banks such as Capital One, CIBC, Toronto-Dominion, and others. With bad credit credit cards Canada customers have the chance to improve their credit and apply for a standard card.
Canadian Credit Card Comparison
When you compare credit cards Canada has plenty to offer, from retail and department store to rewards and specialty cards. Look at factors such as rates and limits, penalty rates, caps on rewards points, expiry dates, and others. With the help of credit card comparison Canada customers can find a suitable product for their income, budget, and lifestyle.
Credit Cards Canada Instant Approval
With instant approval credit cards Canada customers enjoy quick and easy application process. These cards are especially useful if you need quick cash for emergencies, travel, or big-ticket purchase.
Best Rewards Credit Card
Advertising the best rewards credit card Canada based finance companies and banks feature products for travelers, students, and savvy customers. With the best travel rewards credit card Canada travelers have access to both discount airfare and free tickets. Businesses also benefit from additional employee cards, travel assistance, and exclusive travel bonuses. The best travel credit card for businesses features incentive programs, perks such as free hotel nights, and others.
Walmart Credit Card Canada
Walmart offers two card options with no annual fee, gas savings, and other benefits. With Walmart Mastercard Canada customers receive quick cash in 5 $20-increments. There are plenty of benefits for holders, from rewards points to supplementary cards at no added cost. Customers who opt for recurring bill payments earn more points. Purchases made at Walmart stores earn 1.25 percent. All other purchases earn at a rate of 1 percent. There is a handy online calculator to calculate rewards based on spending. For example, if you spend $920 in Walmart purchases, you will get $210 in rewards. The best part is that there is no expiration date.
- Interest rate: 25.99 percent
- Preferred rate: 19.89 percent
- Annual fee: none
Secured Credit Card
Secured credit cards are offered by TD, CIBC, and other banks and are intended for customers with less-than-perfect and fair credit. With a secured credit card Canada based customers are offered the opportunity to build credit.
Home Trust Secured Visa Card
This card is a good choice for borrowers with tarnished or fair credit and almost anyone gets approved. Home Trust requires a security deposit that can be as low as $500 and as high as $10,000. You can deposit cash in different ways – through bank draft, money order, personal certified check, or personal check. Customers are free to add an authorized user. There are two options to choose from:
- Option 1:
- Annual fee: $59
- Interest rate: 14.90 percent
- Option 2:
- Annual fee: none
- Interest rate: 19.99 percent
Capital One Low Rate Guaranteed Secured Mastercard
This is yet another card to boost your credit score, and Capital One advertises guaranteed approval. You may be asked to make a security deposit based on your credit profile. The deposit varies and can be as low as $75. Customers are offered zero liability and other standard extras by MasterCard. Those who hold the Gold MasterCard also benefit from perks such as travel assistance, baggage delay, and car rental collision coverage.
- Interest rate on cash advances: 19.8 percent
- Interest rate on balance transfers and purchases: 14.9 percent
- Annual fee: $79
Canadian Tire Mastercard
The Canadian Tire Credit Card is one option for everyday purchases and comes in several versions – the Cash Advantage MasterCard, Gas Advantage MasterCard, and Options MasterCard. You can go for a Canadian Tire Master Card with bonuses, money rewards, cash advances, and other benefits. To apply for the Canadian Tire Options Mastercard, fill in your address, employment type, social insurance number, and other details. The Cash Advantage MasterCard is another Canadian Tire credit card that allows customers to earn 3 percent cashback at Mark’s Work Wearhouse and Canadian Tire gas bars and stores. Other purchases earn 1 percent cashback. Online banking is offered so that customers make updates, check their rewards balance, and track transactions. To track payments on your Canadian Tire Mastercard login and view your electronic statements and transactions.
Visa Credit Card
There is a selection of specialty and standard credit cards for different income levels and requirements. Canadian banks offer secured and unsecured cards, depending on your credit rating. Besides world acceptance, Visa credit cards offer emergency assistance and roadside dispatch, rewards programs, and other benefits. Premium rewards cards offer added benefits such as access to signature events and sports events, free nights at select hotels and resorts, discounts, and other benefits.
Low Interest Credit Cards Canada
Low interest cards usually feature interest rates in the range of 0 to 12 percent. They are offered by major credit card companies and banks in Canada and feature added benefits such as cash back, no rotating bonus categories, one-time bonuses, no annual fees, no blackout dates, and others.
Scotiabank Value VISA Card
This card is also offered to consumers who want to lower their interest and borrowing costs. Scotiabank features a special rate of 3.99 percent valid over a 6-month period. This makes it the perfect balance transfer card to save on interest charges and repay outstanding balances. The fact that there is no balance transfer fee means that you save even more. Supplementary cards are also offered as well as extras such as card protection, phone banking, and checks to pay utilities, medical bills, big-ticket and one-time purchases, and insurance premiums.
- Annual fee: none
- Interest rate: 16.99 percent
- Interest-free period: min 21 days
- Min credit limit: $500
TD Emerald Visa Card
Toronto-Dominion features a low-rate card with a minimum credit limit of $1,000. This is a cost-effective solution with a variable rate and added and optional benefits such as secure transactions, car rental discounts, and travel medical insurance. Holders are free to add up to three authorized users. This card is also a good choice if you want to transfer high-interest balances and consolidate debts to reduce your interest payments and keep track of spending.
- Interest rate: TD prime + 1.50 percent to 12.75 percent
- Annual fee: $25
BMO Preferred Rate MasterCard
The Bank of Montreal features a low-rate card with travel and standard benefits such as emergency replacement, roadside assistance, and coverage for emergency transportation, ambulance, hospital, and dental expenses. The grace period is 21 days, and online orders and bookings are free. Applicants provide employment, income, and personal information such as rent or mortgage amount, social insurance number, income amount, and employer.
- Standard rate: 17.50 percent
- Annual fee: $0
- Low-interest option:
- Interest rate: 11.90 percent
- Annual fee: $20
CIBC Select Visa Card
To qualify, customers need a household income of at least $15,000. Those who meet the criteria benefit from perks such as free personalized checks, car rental discounts, and free supplementary cards. The low rate helps users save a lot in charges. With a balance of $5,000, for instance, borrowers save $300.50 a year. Cash advances are available based on credit limit. The rate on advances and balance transfers is 13.99 percent.
- Purchase interest rate: 13.99 percent
- Annual fee: $29
Capital One Low Rate Guaranteed MasterCard
This low-rate card is intended for borrowers who seek to rebuild their credit history. Payments are reported to the bureaus, and on-time monthly payments help improve their score. The bank promises guaranteed approval and offers a reasonable credit limit of $300 or higher. Security funds are required in the amount of $75 to $300. They are used as collateral. Benefits such as ATM referrals and emergency cash advances apply.
- Interest rate: 19.80 percent
- Annual fee: $59