From different cards of matter, Credit cards aren’t the only ones that solely help you spend money. If you are able to manage the best rewards credit card in Canada, you can earn by managing your regular shopping for the day. The key is to choose a credit card with a reliable and worthwhile rewards program that suits you. There is no denying that Canadians are in love with their reward credit cards. More than 70% of Canadians pay off their balance each month, thus escaping interest charges through the best credit cards.
Interesting Fact About Canada’s Top Reward Credit Cards
Reward credit cards do not exist merely to assist you in spending money. You can receive benefits by just doing your routine shopping if you select the correct one for your lifestyle. The important thing is to pick a credit card with a useful and robust rewards program that works for you.
Which are the Best Reward Credit Cards You Want to Know About?
- Scotiabank Gold American Express card– Everyday Spending
- American Express Cobalt Card– Groceries
- Scotiabank Passport Visa Infinite Card– Travel Rewards
- TD Aeroplan Visa Infinite Card- Aeroplan
- MBNA Rewards World Elite Mastercard– Earning on Everything
- PC Financial World Elite Mastercard– Store Rewards
The Top 3 Circumstances That Make Using Rewards Cards Worth It
In many tireless situations, the best rewards credit card in Canada can be a worth investing. While many studies have shown that people who pay on goods spend anywhere between about 15% and 23% more for their purchases, if you know your actual prices, stick to your expense, don’t carry a balance on your credit cards, and understand how your credit profile works, using cards that matter on later side.
- Pay Your Card Off in Full Every Month or You’ll End Up Paying for Someone Else’s Trip
There is no denying that 60% of Canadians routinely carry expense on their cards. It means that by the time interest and fees are overall matched, you’ve likely spent as much as 50% more on the things you own. When it comes to managing of earning points, they’re usually only worth it if you’re not spending extra to earn them. If you are, then it’s probably cheaper just to buy your reward, preferably with cash.
- Stick to Your Budget or You Could Lose All of Your Points
Having a financial budget is a great first step; sticking to it is the essential second step to make reward credit cards work for you. The trick is only to use the card to pay for items you were going to buy anyways, items already included in your spending plan.
- Use a Credit Card with a Low/No Annual Fee to Get the Most Out of Your Points
Cards that earn points quickly for above-average spenders often come with high annual fees, but to get the most out of your points, it’s best to use a card with a no annual fee. Many people fall down; either they don’t spend enough on their credit cards to earn enough points to make collecting them worthwhile, or worse, they spend more than they can afford to earn points.
Wrapping Up
Hence, if you, as a user, are looking for more information on the best rewards credit card in Canada, never hesitate to connect with RateShop.ca! Recognized by CMP as one of the “Top Independent Brokerages in 2020”, you can compare them for all trending information on credit card and money transfer options.
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