Our Big Guide to Credit Cards assesses travel, cash back and balance transfer cards – providing valuable guidance to help you navigate options like rewards programs, interest rates, and fees
The Globe and Mail’s Big Guide to Credit Cards is compiled strictly according to the math – that is, it assesses cards according to the value of the rewards they provide, taking into account any fees the cards come with. The guide has not received sponsorship or financial compensation from any card companies.
Keep in mind the list is meant to be only a guide. Choosing a credit card that’s right for you should be based on your personal needs, and not just the numbers.Cash-back credit cards are relatively easy to rank as the rate of return is straightforward. That said, there are a few things to be aware of.
The Tangerine credit cards rank quite low owing to the base earning rate of 0.5 per cent cash back, but you can choose up to three categories where you earn 2 per cent cash back. Depending on your spending habits, this could be a good choice. Plus, the card has no annual fee, and the cash back earned is paid out monthly.
Despite all of these features, the cards are ranked lower than you would expect. That’s because the annual fees are high at $799 and $599, respectively, the earning rates aren’t as highIt may also seem odd that the WestJet RBC World Elite Mastercard ranks higher than the CIBC Aeroplan Visa Infinite Card. That doesn’t mean that WestJet Rewards is better than Aeroplan; it’s just that the base earning rate of 1.
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