Choosing the best credit card in Canada can be a difficult task. You might get overwhelmed with various options available in the market, with each having its pros and cons. You need to narrow your options by understanding your requirements and ultimate goal.
Having a solid understanding of your situation and clarity over your needs will ensure that you choose the right credit card. A travel credit card may be a good option if you travel frequently. On the other hand, you should consider getting a cashback credit card if you frequently shop online.
Let’s look at some factors you should keep in mind when choosing the best credit card in Canada.
Credit Score and Income
One of the first things you need to look at is your credit score and income because they will determine the type of credit card you can apply for. A credit score between 660 and 900 falls into the good-excellent category, and you’ll be able to qualify for more credit cards. Any score lower than 660, and your options become limited.
Some credit card institutions also require a minimum personal or household income before issuing you the credit card of your choice. These requirements will be provided before applying for a credit card. If your income and credit score don’t match the requirements, it is better to opt for one that fits the bill!
Consider Your Goals
Another thing that you need to consider when opting for a credit card is your goals. You can choose a rewards card that offers credit card rebates and points for shopping, travelling, dining etc. These rewards can be used to offset the card’s annual fee, book tickets for travel, buy merchandise from partner stores and more.
If you are a frequent flyer, consider getting a travel credit card. These credit cards are specifically designed for people who frequently travel because they offer points on every aspect of travelling. You can get points for booking tickets, hotels, rides and more. The points can be used towards getting credit for future travels, booking hotels, dining and much more.
These travel cards also let you shop all around the globe without worrying about foreign transaction fees.
Where To Apply for The Best Rewards Credit Card in Canada?
If you’re planning to get your hands on some of the best Canadian cashback credit cards, head to Great Canadian Rebates. Our platform lets you compare some of the top credit cards in Canada to help you find one that suits your needs and requirements.
Contact us or more information.