Canada's Best Credit Cards Were Just Ranked & Some Offer 'Cash Back On Everything'
It might be time to switch your credit card provider. đź’¸
Perhaps it's time for a change? A new ranking has given a full rundown of the best credit cards in Canada and a whole lot of them have some pretty interesting perks.
The list from personal finance company MoneySense has a bunch of options that may help you to make informed financial decisions in the upcoming year. It might even have you thinking about switching credit card providers.
The ranking is based on several factors including fees, potential perks, cash back plans and more.
From there, they’ve considered which cards work best for the credit-conscious consumer and the report is a good guide to understanding the market in 2022.
If you’re looking for more cash back options for your credit card, the Scotiabank Momentum Visa card might be what you’re looking for. The ranking says it offers 4% cash back on groceries and recurring bills, 2% back on gas and transit, and 1% on everything else.
Another similar option would be the CIBC Dividend Visa Infinite, which apparently offers a comparable cash back plan.
The Amex SimplyCash Preferred says you can get "2% cash back on everything" for $99 annual fee too, if that sounds more like what you've been looking for.
If this isn't the biggest selling feature for you, and you might be looking for little to no fees. For a $0 annual fee, MoneySense recommend checking out the Tangerine Money-Back or the MBNA Rewards Platinum Plus Mastercard.
And, there’s a card that’s great for the movie-goer, too. The Scotiabank Gold American Express gives you those oh-so-precious Scene Points with every purchase, with 5 points being awarded for every $1 spent on entertainment and dining, and more for other types of purchases.
Whatever your financial needs, it is always good to check out the options and get an idea of what’s out there this year!