ADJ Picks Canada’s Best Credit Cards

March 22nd, 2009 Posted in Investing|Personal Finance

ADJ Picks Canada’s Best Credit Cards

Best Credit Cards

These days, it is almost impossible to survive without credit cards. You will need them to rent a car, book a hotel, buy books online, and much more. Depending on how you use them, credit cards have both positive and negative aspects. I always ask you to use credit cards wisely, diligently, and pay your balance in full every month.

Today, I am going to pick some Canadian credit cards based on rewards and features. I have researched most of the Canadian credit cards but I am going to mention only three of them. Remember, these cards are only good if you pay your balance in full. If you carry a balance, your best option would be to stick to a low-interest credit card. If you are interested in finding a low-interest credit card, use tools mentioned in this article.

Canada’s Best Credit Cards – My First Pick

MBNA PremierRewards Platinum Plus

  • 1% cash back – no limits
  • Free purchase assurance protects you for 90 days against theft, loss, or damage
  • Free extended warranty doubles manufacturer’s warranty for up to one additional year
  • Car rental insurance

Canada’s Best Credit Cards – My Second Pick

President Choice Financial MasterCard®

  • Earn 10 PC points for every dollar you spent (works out to be the same as 1% cash return)
  • Free purchase assurance protects you for 90 days against theft, loss, or damage
  • Free extended warranty doubles manufacturer’s warranty for up to one additional year

Canada’s Best Credit Cards – My Third Pick

Citi Enrich MasterCard®

  • 1% cash back – $250 maximum
  • Price Protection (find the same item at a lower price within 60 days, Citi will refund the difference up to $100)
  • Get your photo imprinted on the front of your card for security

Final Word

Cards mentioned above have no annual fee. I personally use PCF MasterCard® and CIti Enrich MasterCard®. I bank with PCF, and the main advantage of using their MasterCard® is – points add up very fast. Without doing anything actively, I make points worth around $100 with PCF every year. Although it does not give you cash rewards, PC points are very flexible and you can redeem these at any Loblaw chain stores. Which product you should pick? After reading this article, do your own research and pick the one that best suits your needs.

Some hand-picked related and non-related posts:

ADJ Picks Canada’s Best High Interest Savings Accounts

30 Free Canadian Financial Tools and Calculators

Canada Tax Preparation Software 2008

Budgeting: The Dos and the Don’ts

Ten Tips To Stay Debt Free

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