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Find the
Best Credit Card
for your needs.

Take our quiz. it takes 2 min!

Find the
Best Credit Card
for your needs.

Take our quiz, it takes 2 min!

Choosing a Credit Card With Hardbacon

To choose a mortgage with our comparison tool, enter the city where you plan to buy or renew your mortgage. Then enter the price of the property and the amount of your down payment. Select the type of rate and the term. You can click on "more options" if you want to input any additional criteria. These answers will enable the system to calculate, for each of the offers, an estimate of the installments which you can see in the “installment” column.

What's a balance transfer with a low-interest rate?

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".

Can I acquire a credit card when being bankrupt or with no credit history?

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.

Why is it important to pay in full the credit card balance each month?

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.

What percentage of my income can I allocate to my mortgage payments?

Banks use the Gross Debt Servicing (GDS) ratio to calculate the maximum you can allocate to your housing expenses, including the mortgage. This ratio is calculated by dividing the annual amount you spend on your mortgage payments and other expenses related to the property, by your gross annual income (your salary before tax). The maximum acceptable ratio is 32%, which means you should not be spending more than 32% of your gross income for housing. Also, be sure to do your math before concluding that you can afford a property, after inputting the mortgage amount in the comparison tool. In addition to mortgage payments, you must add municipal and school taxes, electricity, heating, and in the case of a condo, the condo fees, (maintenance fees, etc.).

Our most recent post about credit cards in Canada