The best credit cards comparison tool in Canada
Choosing a Credit Card With Hardbacon
To choose a credit card with our comparison tool, you need to, first, determine its purpose. If unable to pay in full the card balance each month, click on "Offer Type" on the left sidebar and select "Low Interest Rate". If you wish to obtain rewards, select "Rewards," and enter your annual income, in order for us to recommend the best card for you. Do not hesitate to use the other filters, and click on "more details" when you want to know more about a specific card.
Frequently Asked Questions
If you find it difficult to pay your credit card in full, it is possible to transfer your balance to a low-interest-rate credit card. Financial institutions offer interest rates from 0% to 4%, for a period of 6 to 10 months on average. To obtain this card click on "Offer Type" on the left sidebar and select "Low Interest Rate".
If you have a bad credit history, it is still possible to obtain a credit card, but the financial institutions mayl ask you for a deposit. In the filter on the left side bar, click on "Offer Type" and select "Build my Credit Score". Generally, even if your credit score is not good, or if you have no credit history, you can still obtain a credit card, but with a small credit limit, usually around $500.
People who use a credit card as a payment method will prefer using Visa or Mastercard because most Canadian retailers will accept either. In Canada, most retailers who accept Mastercard will also accept Visa, with some exceptions. Costco, for example, only accepts Mastercard. American Express' network is smaller compared to the other credit card companies, but offers some unique characteristics like no credit limit. For those who travel regularly, it is helpful to know that Mastercard is used in 210 countries, Visa in 200 countries, and American Express in 130 countries.
If you pay the entire credit card balance at the end of each month, you will pay zero interest on the current month’s purchases. On the other hand, if you pay your balance partially, you will have to pay interest on the entire amount appearing on your credit card. If you think that you won’t be able to pay your credit card balance in full each month, it is recommended to use a debit card linked with a checking account.