Comments on: It might be easier to just fill out an application that comes in the mail...

Question: It might be easier to just fill out an application that comes in the mail...

cgg — Wed, 18 Jun 2008 07:57:42 -0800

I need help finding the best deal on a Canadian credit card.

My current point-getting Canadian credit card (which has served me relatively well for the last few years) is ending their program, so I'm looking to replace it.

In order of priority, I'm looking for a Canadian card that:

* is a visa (seems to be accepted in more places than mastercard)
* has no yearly fee
* low interest rate (I don't usually carry a balance, but I sometimes get stuck with a due date on the 21st, and payday is the 30th.)
* Has a good cash-back system (as opposed to a points-for-merchandise deal)
* decent fraud protection
* from a bank that I've at least heard of.
* good starting credit limit (the one I'm canceling currently has about a 10K limit; I really only need at most half that.)

I've seen those sites that compare credit card offers side by side, but they're usually for american cards. Does such a thing exist for Canadian cards? (My google-fu is failing me here.) Or, does anyone have a credit card deal that's still available that they'd recommend?

By: graytona

graytona — Wed, 18 Jun 2008 08:50:23 -0800

it's all right here - a site by the government giving you the low-down.

By: cgg

cgg — Wed, 18 Jun 2008 09:12:23 -0800

dang it - how did i miss that? And by the government, no less. merci.

By: rosemere

rosemere — Wed, 18 Jun 2008 09:15:15 -0800

Keep in mind that if you're a good customer, you can negotiate a lower interest rate or removal of any annual fee if you are willing to be firm with them. I had a rewards card from a bank that charged an annual fee. After using it for about a year and paying it off monthly, never carrying a balance, I called to cancel it, but they implored me to keep it, changed it to a cashback card with a fairly low interest rate, and waived the annual fee.

So if you don't find the perfect combo from that site, maybe cashback/low interest would work for now. Work like hell to avoid carrying a balance, then call them back and say you can't handle the annual fee. Odds are good that they'll refund what you paid in order to keep you.

By: astrochimp

astrochimp — Wed, 18 Jun 2008 10:11:25 -0800

This is a decent comparison of reward-based Canadian credit cards.