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Best credit cards in 2020 in Canada
Selecting the best credit card in Canada depends on what you are watching for. Some are looking for travel rewards, while others prefer cash refunds. If you are watching for a hotel credit card or a credit card with no almanac fee, you can acquire details. Once you determine the best credit card, consider adding cardholders so that points can be grouped. To maximize the value of your points, you also need to know the details of your loyalty program.
The American Express Platinum card is a travel credit cards in Canada. What’s better than these other cards is unlimited access to the room. Yes, there is an annual fee of $ 699, but you only get $ 200 per year, so you only pay $ 499 per year. For regular travellers, access to the lounge is worth more and does not take into account additional travel benefits such as improving hotel status or travel insurance.
PC Master World Elite MasterCard is the best credit card to buy groceries in Canada, but must be purchased at the Loblaw Store. The reason for this is that this credit card earns 30 optimal PC points for every dollar spent at the Lobrow store. If you shop at another grocery store, you only get 10 points for every dollar spent. If purchased at the Shopper Drug Mart, you will earn 45 points for every dollar spent and 30 points per liter for gas purchased at Esso / Mobil locations.
While travel insurance credit cards can sometimes be a bit tricky, BMO World Elite MasterCard makes things easy. To apply for all insurance, travel expenses must be charged to the credit card. This is essential because many other credit cards need that the card be charged 75% or 100% of the trip buying for the insurance to be real. Another advantage of this card is that during the first year there are frequent promotions that do not charge an annual fee and a $ 250 sign-up bonus.
For those who want to earn hotel points, there is no better credit card than the Marriott Bonvoy American Express. Earning rates are five Marriott Bonvoy points for every dollar spent at participating facilities and two points for every dollar spent elsewhere. Cardholders can easily earn higher status, starting with 15 elite night credits each year.
Rogers World Elite MasterCard charges a standard 2.5% foreign transaction fee, but receives a 4% refund for all purchases made in one currency. In other words, you get 1.5% cashback on purchases outside of Canadian dollars. This is impressive because this card has no annual fee.
When looking at the list of the best credit cards in Canada, the MBNA True Line Gold Mastercard is perfect for those who are looking for low interest rates and excellent balance transfer options. The promotion balance transfer rate is 0% for 12 months, but a 3% fee applies. At the end of the promotion period, the interest rate rises to 8.99%, but that’s still a good rate considering that most credit cards charge more than 19.99%.
With this Bank of Nova Scotia credit card, users can earn reward points for selected daily purchases. You get 1 point per dollar for regular purchases and 4 points per dollar for entertainment, food, groceries and gas purchases. There are no travel restrictions and points can be used anytime, anywhere. This card also supports a large minimum credit limit of $ 10,000. Users are covered by seven types of insurance, including travel interruptions and cancellations, medical emergencies, baggage loss and delays, and flight delays. Bonus benefits include a premium concierge, VIP passes for exclusive events, and a free lounge. Customers can also take advantage of special events and experiences such as restaurants, theatre shows, movies, music and shopping.
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