Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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The best high-interest savings accounts in Canada for 2025 + MORE Aug 18th
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Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Applying for a credit card: What you need to know Oct 6th
There are many great reasons to carry a credit card. Beyond the convenience and purchase protection included with many credit card purchases, they’re also important financial tools for establishing your credit history and borrowing money—both of which you’ll need if you want to make a major pu.... More »
The best GIC rates in Canada for 2024 + MORE Jul 6th
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The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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The best 5-year fixed mortgage rates in Canada May 26th
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The best 5-year fixed mortgage rates in Canada
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Canada’s best low-interest credit cards 2022 Oct 19th
If you carry a credit balance, or if you expect to take on debt that will take some time to pay off, you might want to consider a low-interest credit card. Whereas most regular credit cards charge around 20% in interest, these cards offer rates that can be half that or less. Some even come with attr.... More »
A frequent question we hear at MoneySense is: Which is better—Visa or Mastercard? When looking for a credit card, there are all sorts of things to consider. What is the interest rate? Can you collect rewards points or get cash back for making purchases? Is there a bonus for signing up, and what are the perks and benefits included? Believe it or not, the answer to these questions is likely not going to depend on whether you go with a Visa or Mastercard. In this article, we’ll lay out the facts and show you why the badge on your plastic probably doesn’t matter.
Mastercard vs. Visa: Overview
1. Visa and Mastercard don’t issue their own credit cards
It might seem counterintuitive, but neither Visa nor Mastercard directly distribute credit cards. Both of these companies are processing networks that partner with card issuers like banks, credit unions, or other financial institutions to get their cards to the public. And it’s the actual card issuer, not the processing network, that sets most of the terms like interest rates, rewards and annual fees…
