Types of Credit Cards in Canada That Individuals Can Look for!

There are many financial prospects that matter, maybe it's about getting a new home! Today, credit cards are essential for managing the flow of money with better options of today. There is no denying that when it comes to selecting credit cards in Canada, many people tend to keep their chances upfront that matters in seeking the right use of money with all easy repayment options. For core competencies in credit cards to match, you can get in the core process to look for the most rewards, sign-up bonuses, and comprehensive insurance packages.

Nevertheless, during this financial crisis, banks offer relief in the form of credit cards, lines of credit, loan, and mortgage payment referrals. Read our article about the types of credit cards in Canada that's trending today.

Travel Rewards Cards

Popular among frequent people, these cards offer points that can be redeemed for travel-related rewards like free flights, hotel stay, and other upgrades. They often feature perks that would especially appeal to people to look for premium travel insurance packages, airport lounge access, and rental car discounts. The amount of the rewards generated by the credit card can be a flat rate based on your overall spending or can vary depending on specific spending that matter all in all.

No Foreign Transaction Fee Cards

A top advantage for those who travel frequently for business or pleasure, these cards either offset or entirely waive the foreign transaction fee, a fee ranging from 2.5 to 3%, which many credit card issuers may add in different forms.

Lifestyle Rewards Cards

These credit card options offer you lifestyle-enhancing habits like dining out, ordering takeout, and using ride-sharing programs that are often offered by cab companies.

Cashback Cards

Cardholders get money back for purchases. The top cards offer you the best of cashback on common big-spending categories like gas or groceries.

Student Cards

An excellent way to establish a credit score, student credit cards are designed specifically for college students- who have no credit history and options of earning. In many cases, they tend to have a low credit limit, an easy application process, and no annual fee to make regular transactions.

Business Cards

Business credit cards are the ones that focus on the best needs of cardholders who run a company. Rather than offering rewards for spending on groceries or ride-share programs, they typically feature perks and up the earn rate of categories business owners can use, like travel expenses, group cell phone plans, office supplies, and internet use. There are many people who have nice extras like zero-liability employee cards, longer interest-free grace periods, and generous insurance packages.

Wrapping Up 

 Hence, if you, as a user, are looking for more information on the different types of credit cards in Canada that's trending today, never hesitate to connect with RateShop.ca! They are one of the “Top Independent Brokerage in 2020”, recognized by CMP to collect all guides on mortgage interest rates and mortgage terms.