The best GIC rates in Canada for 2024 + MORE Sep 4th

Credit card interest rates aren’t all the same. If you carry a 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. The savings could be substantial: while most regular credit cards charge around 20% in interest, the cards listed below offer rates that can be half that, or less.

Credit card comparison tool

Compare your options with our interactive tool and get a sense of how much you could save on interest payments depending on the size of your balance.

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Why trust us

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

Why low-interest cards are a good option right now
A new report suggests an increasing number of Canadians are seeing their credit card balances balloon as the cost-of-living crisis and higher interest rates eat into household budgets…

Credit card comparison tool

Compare your Mastercard options with our interactive tool and filter credit cards based on rewards value, annual fees, income requirements and more.

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The best Mastercard cards by category

Mastercard is one of the most widely accepted credit card companies in the world—you can use it in more than 200 countries, making it a good choice for travellers. Plus, Mastercard’s status as the only credit card you can use at Costco stores make it a strong choice for everyday spending. Whatever you need in a credit card—whether it’s opportunities to earn cash or rewards, to travel, to take advantage of low interest rates, or to gain access to premium perks—there’s a Mastercard for you on this list.

Best Mastercard by categoryWhy we love itBest cash back MastercardBMO CashBack World Elite MastercardAnnual fee: $1205% cash back on groceries and 4% back on transit Best no-fee cash back MastercardTangerine Money-Back Credit CardAnnual fee: $02% cash back in up to 3 categories of your choice (including groceries, gas and dining)Best travel rewards MastercardMBNA Rewards Platinum Plus MastercardAnnual fee: $0Earn travel rewards for no annual fee and receive a nice birthday bonus perk annuallyBest low-interest MastercardMBNA True Line Gold MastercardAnnual fee: $3910…

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 money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

Frequently asked GIC questions

Here you’ll find the answers to common GIC questions, along with information on the best GIC rates available right now. If GICs are new to you, and you want to learn everything there is to know, start by reading our guide below.

Which bank has the highest rate for a GIC?
Small financial institutions, such as credit unions, typically offer more competitive GIC rates than the large banks…

Costco is a popular shopping destination for Canadians who want deep discounts on bulk buys. The catch? Costco requires you to have a membership to shop there, and that costs either $65 per year (for a Gold Membership) or $130 per year (for an Executive Membership). Costco’s also pickier than most retailers when it comes to credit cards. For example, you can only use Mastercards when cashing out in person or fuelling up on gas at Costco stations.

If you frequently shop at Costco, you’ve likely noticed ads for the CIBC Costco Mastercard. This no-fee credit card doubles as your membership card and offers rewards on your Costco purchases. But is it the best credit card for frequent Costco shoppers? Read on to learn more about the CIBC Costco Mastercard, and find out how you might earn even more rewards with a few alternative credit cards.

CIBC Costco Mastercard review

featuredCIBC Costco MastercardVISIT CIBC.CA FOR MORE DETAILS
Annual fee: $0

Rewards: 1% – 3% cash back

3% at restaurants and at Costco gas stations

2% back at other gas stations and at Costco…

Air Canada launched a new worldwide seat sale that includes bonus Aeroplan points for flights booked during the sale. The sale and registration period for the bonus points is on offer until September 10, 2024. If you don’t have any travel planned we still recommend registering for this offer right away just in case you […]
The post Earn 1.5x Aeroplan points on all Air Canada flights worldwide (Register & book by Sep 10) appeared first on Rewards Canada.