Save money, earn cashback, and maximize rewards with our expert-curated selection of the top credit cards available today.
The platform to pay your rent with any credit card.
Corporate card and spend management for modern businesses.
Avoid foreign transaction fees and earn flexible rewards.
In Canada, your credit score is a number between 300 and 900 that shows your creditworthiness. The two main credit bureaus are Equifax and TransUnion. Your score is based on payment history, credit utilization (how much of your available credit you use), length of credit history, types of credit, and recent inquiries. To build your score, always pay your bills on time, keep your credit card balances below 30-35% of your limit, maintain old accounts, and limit new credit applications.
Newcomers can get a credit card in Canada through several paths. Many major banks (like RBC, CIBC, Scotiabank) offer newcomer packages that include a credit card with no Canadian credit history required. Another common option is a secured credit card, where you provide a security deposit that typically becomes your credit limit. This is a great way to build credit. Having a Canadian bank account, a Social Insurance Number (SIN), and proof of income will significantly improve your chances of approval.
Key terms: APR (Annual Percentage Rate) is the yearly interest rate on balances. Annual Fee is a yearly charge for card benefits. Balance Transfer Fee is charged when moving debt from another card. Cash Advance Fee applies when withdrawing cash. Foreign Transaction Fee is charged for international purchases. Grace Period is the time to pay without interest (usually 21+ days).
Cashback cards give a percentage of your spending back as a statement credit. Points/Miles programs (like Aeroplan or Avion) offer more flexibility, allowing you to redeem for flights, hotels, or merchandise, often at a higher value. To maximize rewards: choose a card that matches your spending habits (e.g., groceries, gas), pay your balance in full each month to avoid interest negating your rewards, and take advantage of sign-up bonuses.