Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
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The best GIC rates in Canada for 2025 + MORE Aug 11th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
The best high-interest savings accounts in Canada for 2024 + MORE Aug 12th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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The best GIC rates in Canada for 2026 May 19th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Is Wealthsimple’s new direct indexing worth it? Apr 2nd
Wealthsimple, the country’s largest and most aggressive fintech challenger to the big six banks, has been steadily rolling out new features over the past year, each aimed at giving retail investors access to tools that were once reserved for institutions or high-net-worth clients.
Back in Decem.... More »
BMO Preferred Rate Mastercard review + MORE May 4th
Low interest credit cards are more valuable than cash back or rewards cards for people who tend to run a balance. At the regular rate of around 19.99% that most credit cards charge on unpaid balances, interest can add up fast and cancel out any other rewards you might be generating. With a regular i.... More »
How Rewarding are Canadian Rewards Credit Cards?
– ratesupermarket.ca
Canadians are reaping the benefits of their rewards cards in large numbers, according to a recent survey by RateSupermarket.ca. Currently, there are over 74 million active credit card accounts in Canada, with the average Canadian owning two credit cards and 8 in 10 holding a rewards credit card. Of those households, 85 percent are seeing returns from their purchases in the form of cash back and other rewards.
Retirees Lead the Way
Older Canadians have taken to credit card rewards in greater numbers than their younger compatriots. Just 73 percent of Canadians aged 18-34 own a rewards card compared to 83.5 percent of those aged 65 and over. It’s not just uptake where older Canadians are leading the way either, nearly 15 percent (14.8) of older Canadians with a rewards card have redeemed more than $1,000 worth of rewards. Only 6.7 percent of those aged 18-34 can say the same.
Rewards by the Numbers
The payoff from rewards credit cards can be substantial, with 12 percent of survey respondents saying they have redeemed over $1,000 worth of rewards…
