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.
A good credit history is important for everyone. It’s a gateway to more borrowing options and the basis of a positive financial future. But what if you have no credit, or some unfortunate marks on your record make it hard to get a new card? That’s where a secured credit card may come in.... More »
Looking for a personal loan? Let’s face it, circumstances can change unexpectedly. And, an emergency can pop up at the worst possible time. From an unexpected home improvement bill or tax liability to your kids asking for a loan, don’t stress it. Personal loans are a way to obtain the m.... More »
If filing your taxes before the deadline went over your head this year, procrastinating can only make things worse. Unlike sales tax, which is a pay-at-the-pump proposition, Canada’s income tax system is based on self-assessment. Make your money, plan your affairs as best you can and then, pay up.... More »
Credit card bills got you down? That’s the trouble with paying with plastic. It is easy to spend, but not quite as easy to pay off the debt you accrue – especially if you are only paying the minimum each month. Carrying too much credit card debt can make it harder to get a loan for a house .... More »
Looking for low-interest credit cards? A credit card that has a high interest rate can quickly lead to higher debt if you’re not careful. But, with a few savvy tips, you can lower your interest rate or transfer to a card with lower interest. Here’s how to get the best interest rate for your.... More »
We all have that favourite superstore – the one that sells everything under the sun, from from car batteries and patio furniture to sports drinks and baby clothing.
And while we may spend hundreds or even thousands of dollars at these stores per year, it’s time to consider how you can get a return on loyalty.
Many stores feature loyalty reward cards that give you access to exclusive promos and discounts, but some department stores go as far as to offer reward credit cards, providing you with premium earning rates on loyalty points and cash-back.
General rewards credit cards may offer rewards for particular spending categories (gas, grocery, pharmacy purchases, etc.). But the best store credit cards earn rewards in-store and on other everyday purchases at other stores, giving you the flexibility to shop wherever you so please and redeem whenever you want.
Problem is, with so many different cards on the market, how do you know which card will ultimately save you the most?
To make the decision-making process easier, you can use RateSupermarket’s handy-dandy card comparison tool…
RateSupermarket.ca aims to make financial decision-making easier for the consumer by acknowledging the best credit cards and banking products in Canada at its annual Best of Finance Awards.
The credit card, loan, bank account, or mortgage you choose can affect how the future of your money, how investors and lenders look at your portfolio, potential job offers, the type of house you can rent or buy, and even the type of cell phone plan you get (pro tip: good credit may mean better deals!).
That being said, the world of personal finance, credit and investing can be a daunting one to navigate. Everyone has a unique lifestyle and budget which may lead them to choose a specific credit card or banking product over another. And it’s imperative to do your research before signing on the dotted line. With so many options available, choosing the best product can be difficult.
That’s why we at RateSupermarket.ca annually audit Canadian credit cards and banking accounts to see how they stack up against each other…
Credit card rewards come in many forms. From points to statement credits to cold-hard cash, a good rewards card maximizes on your everyday purchases and ultimately helps you save.
Reward credit cards generally offer different amounts of rebates for particular spending categories (gas, grocery, pharmacy purchases, etc.). And while there are so many options on the market, one distinctive feature between most rewards cards is whether it comes with an annual fee or not.
Cards with an annual service fee typically offer you more flexibility with a greater amount of cash-back or points for your purchases, whereas no-fee cards may offer a little less of a rebate with less opportunities to earn rewards.
That being said, there are still a number of great no-fee reward options. But how do you choose the card that will provide you with the most in savings?
To make the decision-making process easier, RateSupermarket.ca has a handy-dandy card comparison tool. And with all things considered, from sign-up bonuses to earning categories, we used our Best of Finance methodology to rank the cards that provided the most cash value…
Whether it’s rebating you in points, a statement credit, or cash-back in your bank account, a good rewards card maximizes on your everyday purchases and ultimately helps you save.
To determine which card will provide you with the most in savings, you must first evaluate your spending patterns to see which card caters best to your lifestyle.
Do you have a big family and find yourself constantly at the grocery store picking up items for dinner?
Or are you living your best life at the latest Instagram-worthy brunch spots every weekend?
Do you have the travel bug and spend a lot on flights and accommodations?
Or maybe your job requires you to do a lot of driving, and you’re stuck filling up the tank multiple times per week.
Rewards cards generally offer different amounts of cash-back for particular spending categories (gas, grocery, pharmacy purchases, etc.), and cash-back usually ranges anywhere from one to five per cent (if you’re getting less than one per cent in cash-back, please do us a favour and throw that card away)…
Your credit score is a crucial factor that banks and other lenders consider before they lend you any money. Banks want to know you’re financially responsible and capable of repaying your debts before they hand you any funds. Thus, looming debt can be destructive to your credit score, affecting your ability to get an approval on a mortgage, student loan, or financing for a car.
So, if you’ve found yourself in a financial predicament, your best bet would be to pay off as much debt as possible, apply for new credit, and use it responsibly. But if you’re not able to qualify for a credit card because of the current state of your credit score, consider getting a secured credit card or a card specifically designed for rebuilding credit.
With these types of card, you may be required to put down a deposit before you get approved. For example, if you want a $500 credit limit, you would need to provide a $500 deposit. After you’ve rebuilt your credit score with a secured card, you should be able to get your deposit back and qualify for a regular credit card…