How to Compare Credit Cards

If you want to compare credit cards in Canada, you can look at the offers of big banks such as the Bank of Montreal, CIBC, and Bank of Nova Scotia, as well as the smaller second tier banks, credit unions, credit card companies, caisses populaires, and other financial institutions. Depending on your individual preferences and requirements, there is a variety of financial products such as rewards credit cards, cash back credit cards, low interest cards, guaranteed credit cards, and many more.

When you compare credit cards, you might want to look at the low interest category group. The CIBC Select VISA Credit Card goes with an interest rate of 11.99 percent on convenience checks, purchases, balance transfers, and cash advances, annual fee of $29, and a required household income of at least $29,000. This product is advertised with many beneficial features such as guaranteed hotel reservations, free-of-charge personalized convenience checks, emergency card replacement, common carrier accident insurance, up to $1000 cash advances a day, and worldwide acceptance. The Visa Classic Low Rate is featured with the same interest rate of 11.99 percent, annual fee of $20, free additional cards, and no requirement on minimum personal or household income. Additional benefits include guaranteed hotel reservations, worldwide acceptance, 24/7 fraud detection, up to $500 cash access a day, and chip and pin technology.

Persons who seek to compare rewards credit cards might look at the offers of the Royal Bank of Canada and Capital One. The RBC Rewards Visa Gold goes with no fee, interest rate of 19.99 percent, and grace period of 21 days. Card holders earn one bonus point for every $2 spent in purchases and can redeem these for gift cards and certificates, merchandize, travel, and more. This product is advertised with plenty of beneficial features such as chip and pin technology, free additional cards, minimum credit limit of $1000, guaranteed hotel reservations, zero cardholder liability, etc. The Capital One Cash Back Gold MasterCard goes with an interest rate of 19.8 percent on cash advances, purchases, and balance transfers, no annual fee or cash back limit, and up to 1 percent cash back. Additional benefits that go with the card are Car Rental Collision/ Loss Damage Waiver, MasterAssist Travel Assistance, Travel Accident Insurance, Baggage Delay Insurance, price protection, extended warranty, and purchase assurance.

Customers with no or poor credit history are advised to look at the secured credit cards on offer. Comparing credit cards, one can check the financial products of Capital One and the Bank of Nova Scotia. The Capital One® Low Rate Guaranteed Secured MasterCard goes with an annual fee of $69, interest rate of 14.9 percent on balance transfers and purchases and 19.8 percent on cash advances. Additional benefits are 24/7 customer service, zero fraud liability, MasterCard Global Service, and Master RoadAssist Service. The ScotiaLine VISA Card goes with no annual fee, secured rate equal to Scotiabank prime rate plus 1 percent, grace period of 21 days or more, extended warranty, purchase security, and credit limit between $20,000 and $500,000.