The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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The best bank accounts for students in Canada
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The best credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Credit Card Tiers: Your Guide
– ratesupermarket.ca

Selecting and applying for a credit card can be overwhelming. Terms like gold, elite, and platinum can seem arbitrary, the differences between them confusing. To help clarify, we’ve assembled a quick-and-dirty reference guide for the different tiers of Canada’s most popular credit cards, MasterCard and Visa.
MasterCard
Standard
Features and perks:
Nothing fancy. Holders can use their card in more than 200 countries, plus at ATMs to withdraw cash. Zero Liability policy is included — a cardholder’s liability for unauthorized purchases is $0. Other benefits are dependent on card type and issuer.
Fees:
Depends on the card type and issuer, but most start at $0.
What you need to apply:
No minimum income requirement for some cards.
Examples:
BMO Air Miles MasterCard
An all-around basic card with no annual fee and modest reward earnings with 0.05 Air Miles earned on the dollar. New signups get a 400 Airmile bonus, and the credit card can be used in conjunction with the Air Miles rewards card to double up on points at the till…


