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Welcome to my padlet and here is your space to explore and discuss "Credit cards – evaluating competing credit card
offers". Here, I am presenting various videos, websites , images and reflection on my topic which is a great experience for the viewers as well as discuss the world of credit cards and offers. Several important variables must be carefully considered while evaluating competing credit card offers such as Annual fees and percentage rates, offers and reward programs, credit limit and usage, personal needs, and so on. These information gives more interactive space to those whose aims to make well-informed credit card decisions.

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Video # 1 -  Ranking Credit cards in Canada

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Video # 1 -  Ranking Credit cards in Canada

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This video explains the Canadian credit cards are ranked according to features, fees, cashback, and individual comments. Viewers are encouraged to use referral links, and transparency is emphasized. The benefits and downsides of particular cards are then covered in the video. Along with offering a tier list that sorts cards from S-tier to lower tiers, it also promotes viewer involvement by allowing users to comment on missed cards and share their thoughts.

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I Ranked EVERY Credit Card in Canada (2025 Update)

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The 'Credit Card Awards 2024' YouTube video offers different method of assessing credit cards by classifying them into distinct segments. It highlights how crucial it is to take personal requirements and spending patterns into account when selecting a card. In addition, the film presents forecasts for the following year and a real-world example of evaluating and contrasting credit card offers. It emphasizes the need of taking a comprehensive strategy when choosing the ideal card for your requirements.

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THE BEST CANADIAN CREDIT CARDS OF 2024 -- CREDIT CARD AWARDS

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In the video, it explains a 2020 limited-time promotion that made the American Express Platinum card enticing for cash back in Canada is discussed. It draws attention to how redemption rates, multipliers, and category-specific incentives affect cash back value. The significance of confirming current offers and being aware of the particular card type is emphasized in the video. Additionally, it highlights how important it is to be explicit about the types of cards when evaluating a credit card's possibility for cash back.

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The Best Cash Back Credit Card In Canada 2020: The Platinum Card American Express (Amex)

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Video # 4 -Good vs Trash Canadian Credit Cards

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Video # 4 -Good vs Trash Canadian Credit Cards

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The video offers a framework for assessing Canadian credit cards, classifying them as "good" or "trash" according to predetermined standards. In addition to emphasizing crucial aspects like minimum cashback percentages and waivers of foreign transaction fees, it groups cards according to annual costs. Since it offers specific standards for evaluating the worth of various cards, the film contributes to the Padlet conversation by assisting in the transition from arbitrary judgments to impartial comparisons. It also emphasizes how crucial free travel, comprehensive insurance, and rebates or rewards are.

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This website describes the 2025 Canadian credit card promotions include travel benefits, balance transfers, rewards cards, cashback focus, and premium cards. In the first few months, rewards cards offer substantial points with spending requirements, while cashback-focused cards offer welcome bonuses and high earn rates in particular areas. Premium cards have high annual fees but offer substantial welcome bonuses and travel benefits, whereas other cards have low or no introductory rates on balance transfers. Additionally, several cards highlight perks relating to travel. Examine sign-up bonuses, category bonuses, annual fees, and interest rates to optimize rewards. When selecting a card, it's crucial to examine your spending patterns and confirm information with card issuers.

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The best credit card promotions in Canada for 2025 | Ratehub.ca

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Looking for the best credit card promotions, sign-bonus and welcome bonus? Here’s our list of the best credit card offers for cashback, reward and low-interest credit cards.

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This explains about a credit card tool named CreditcardGenius is a service that assists Canadians in comparing credit cards by assessing over 50 attributes of almost 200 cards using mathematical scores and rankings. It provides a detailed comparison, personalized ratings, and a focus on value. It monitors nearly every Canadian card issuer and saves time and labour by removing the need to manually compare features.

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Get rewarded when you get a new credit card in our GeniusCash program

Looking for EXTRA cash back while applying for a new credit card? Then say hello to our GeniusCash program.

In addition to the impressive welcome bonuses and benefits that come with the card you choose, we reward you as well. When you're approved for select credit cards displaying the GeniusCash icon anywhere on creditcardGenius, we'll send you real cash (not gift cards or points) through Interac e-Transfer or PayPal.

You can see ALL our current GeniusCash offers and how it works here.

How To Choose A Credit Card - 7 Factors to Think About

Getting a new credit card may seem like a daunting task. We have 204 credit cards in our database. And that doesn't include all the local credit unions in Canada offering their own cards.

So how do you choose? Well, we came up with 7 questions to answer to help narrow down what you need. Once answered, we have a special tool that will show you the top credit cards for you.

Here's our guide on how to choose a credit card in Canada.

How to choose a credit card

How do you choose a credit card? We've got 7 basic questions to answer. Once done, you'll come up with a combination of things you want in a credit card.

They are:

Here are the details on each one.

1. What is your credit score?

Let's start by reviewing what your credit score is. You may not know your credit score, but you probably have a rough idea if it's good enough for a credit card.

Answer these few questions:

Have you ever missed any payments, and if so, are there more than 1 or 2, and were they for less than 30 days?

Or, have you never had credit before?

If you answered no to any of these, you can move on to the next section, there really shouldn't be any issue with your credit score.

If you answered yes to them, you should still be fine when it comes to getting a credit card. For the 2nd, you likely don't need to turn to secured credit, but you'll have to be careful what you apply for - we suggest staying away from premium credit cards as they may require high credit scores.

Now, in the last 6 years, if you've been late on multiple payments, have a consumer proposal, or worse, been in bankruptcy, your credit score may be in the poor range. It's definitely best to find out what it is ( you can learn more about checking your credit score here). If it's less than 600, you're likely going to need a secured credit card, and your quest to find the best credit card for you ends here at step 1.

There aren't many to choose from. The best of the best is the Neo Secured Credit. And it's for these 3 reasons:

has no annual fee,

only requires a security deposit of $50, and

offers rewards on purchases.

It's a trifecta that other secured cards can't match.

2. Do you tend to carry a balance?

One of our biggest rules when it comes to responsibly using credit cards is you have to pay your balance in full, every month. Typical credit card interest is in the range of 20% and can be a killer on finances.

But, we know that things can happen. And if you do carry a balance, even from time to time, you're going to be better off with a low interest credit card. Instead of paying the typical 20% interest on your balance, you can get a rate of 10% or better.

These cards come at a cost. They're usually pretty basic, only a few offer rewards (and they're not that good), and come with an annual fee. But you may offset all this with a lower interest rate.

You can review all your low interest credit card options here. One to take a closer look at is the MBNA True Line Gold Mastercard. It has a low rate of 8.99% on purchases and balance transfers, for a $39 annual fee.

3. What are your travel insurance needs?

If you haven't gotten off the highway yet, you'll need to answer all of our remaining questions.

Let's start with credit card insurance. Most no fee credit cards include basic insurance - extended warranty and price protection. Some even include mobile device insurance.

But what about travel insurance? You'll need a credit card with an annual fee to get some decent coverage.

Nobody wants travel plans interrupted, but it happens. And having a credit card with travel insurance can get you your money back if you have to cancel, covers expenses if you're delayed, or saves you the cost of having to get rental car insurance.

As to how helpful it can be? Here are 2 different travel insurance claims you can take a look at.

4. Do you want perks?

For many, all they want in a credit card is rewards and none of the extra stuff. But that extra stuff has value.

What are some credit card perks you can get? Here's a listing of some of the most popular ones:

airline companion vouchers,

priority airport services,

free checked bags,

airport lounge access, and

annual travel credits.

Credit card perks are largely the domain of travel credit cards, and you'll need a credit card with an annual fee to pay for them.

5. Should you pay an annual fee?

If you answered yes to either of the previous 2 questions, you already know an annual fee is in your future, and you can skip to the next step.

But if not, then it comes to how much you will earn in rewards.

And if this is the case, you'll want to earn enough rewards to offset the annual fee. What's our guideline? Glad you asked.

We'll consider you're looking at a credit card with an annual fee of $120. We'll also assume your average rewards are 2% on all purchases with said credit card.

Compared to a no annual fee average return of 1%, we'll use this formula to come up with the monthly spending you'll need to meet to offset your annual fee.

Monthly spending requirement = (Difference in annual fee) / (Difference in earn rate) / 12

Taking our numbers above, and we get:

(120) / (0.01) / 12 = $1,000

That would be our rough guideline as to whether or not an annual fee is worth it. Spend less, and go no fee. Spend more, and at the very least, consider it.

6. Choose your rewards

Now for the last step - what do you want to earn for rewards?

There are 3 types of rewards you can earn:

Some flexible credit cards can also be considered travel cards (but not vice versa). Here is a quick overview of each.

Cash back

Cash back is the simplest form of rewards. For every purchase you make, you earn a set percentage back in the form of cash.

Most credit cards pay out cash back as a statement credit but a few offer direct deposits to bank accounts.

Flexible

Flexible credit cards earn points that offer guaranteed value for your points. Whether it's for travel or in-store discounts, you'll get the same value for your points.

Now, many programs offer many ways to redeem your points, including cash. But there's usually 1 way to use your points for best value.

If the best redemption option is for booking any travel (and that's many of them), you could also consider them to be travel credit cards.

Travel

Now we have pure travel rewards. They differ from flexible travel rewards for one reason - your value is not guaranteed. And depending on the program you're earning points in, you may also be limited as to who you can use them with.

Aeroplan is an excellent example. We carry an average value of 2 cents per point on flight redemptions, but the value you actually can get can vary. And, you're also limited to just getting that on Air Canada and Star Alliance flights.

We also consider rewards programs that have flight charts. The Avion Rewards program for instance, can give you up to 2.33 cents per point when redeeming for flight. But again, it's not guaranteed.

Some cards offer both travel and flexible rewards points. Amex Membership Rewards for instance, has these pure travel reward options:

transfer points to 6 airline programs,

transfer points to 2 hotel programs, and

Fixed Points Travel program.

All of these options have varying value, up to 2 cents per point. But if you so choose, you can also use your points to help pay the cost of any purchase, at a set value of 1 cent.

Which is best is up for you to decide.

However, if you said yes to step 4 on wanting perks, you'll almost certainly be looking at a travel or flexible credit card.

If you said yes to step 3, you're probably going to end up with a flexible or travel credit card. Travel insurance packages aren't always the best on cash back credit cards, only a few offer decent insurance coverage.

7. Acceptance & income

Finally, you'll need to consider where you shop and what your income is.

Acceptance largely applies to American Express credit cards. Acceptance is quite good as you can see here, but it's not quite on par with Visa or Mastercard, holding these 2 major blind spots:

Of course, if you are a heavy duty Costco shopper, you'll want to make sure you have a Mastercard, as it's the only credit card they accept.

Amex cards have 1 key advantage though - they have no income requirements to worry about. Premium Visa and Mastercards have the following income requirements.

Keep this in mind when looking at credit cards. Even basic Mastercard and Visa cards can have a personal income requirement of $15,000.

An unbiased credit card chooser - our compare credit cards page

You've chosen what features you want in a credit card - how can you decide which one to get? Or at least narrow yourself to a few choices?

Let's introduce you to our compare credit cards page. On it are 4 sliders you can set to customize what you are looking for in a credit card.

These sliders match up with the questions posed above. Simply adjust them to what you want in a credit card to see cards best suited for you.

For rewards, you may have noticed that "flexible" is not in the rewards slider at the top - it's simply the middle setting.

For the others, if you have no preference, simply leave it in the middle.

You can also adjust your monthly spending in 8 different categories.

What you see here is our default spending - feel free to change it as you like.

There are other filters you can also apply.

As you make changes, the results you see are updated in real time.

Do that, and you'll see a list of top credit cards for you. Here's an example.

We want a flexible rewards credit card with top notch insurance. So, we'll simply change the 2nd slider to insurance, and here are our top 3 results.

Or perhaps we just want a no fee cash back card. We'll change the top 2 sliders and get these results.

In this case, card #4 does have an annual fee - it's so good in other areas it still rates really well, even when you don't want fees.

In this case, simply set your max annual fee slider to $0 to remove cards that have one.

So, happy sliding, and finding the best credit card for you.

The best credit cards in Canada

What are some of the best credit cards in Canada? Here's a summary for the best among a few different categories.

1. Best credit card in Canada

The American Express Cobalt Card is the best credit card in Canada. And it's largely because of the rewards.

Here's what you'll earn for purchases:

5 points per $1 spent on groceries and restaurants

3 points per $1 spent on streaming services

2 points per $1 spent on gas, transit, and travel

1 point per $1 spent on all other purchases

Combined with each point being worth up to 2 cents each, you're looking at annual rewards of $1,080. It also includes 10 types of insurance.

All those rewards are for a $155.88 annual fee.

Other best credit cards

2. Best cash back credit card

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Compare Canada's Credit Cards All In One Place | creditcardGenius

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Compare over 204 credit cards in Canada all in one place. Our credit card comparison tool analyzes 126 credit card features in real time using our unbiased math-based algorithm to match you with the right card, fast.

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This website is about the benefits of having a greater credit limit include better credit utilization, more spending power, a buffer for emergencies, and the possibility of earning additional rewards. But there are concerns as well, like excessive spending, aggressive inquiries, difficult debt tracking, and effects on the credit mix. Spending patterns, financial objectives, emergency fund, budget, and credit consumption are important factors to take into account. Maintaining a credit usage ratio below 30% is crucial, and this is the target to strive for. Adding several kinds of loans to your credit mix can also help.

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Should You Accept an Offer of a Higher Credit Card Limit?

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As the Bank of Canada lowers interest rates, credit card companies want you to borrow more.

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This website gives information on Credit score requirements, rewards, fees, interest rates, and bonuses are all taken into consideration when evaluating credit cards. NerdWallet Canada calculate the best card for various customers based on factors including annual cost, rewards, convenience of use, welcome offers, approval rates, eligibility requirements, redemption options, and pros and cons.

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How we ranked our Big Guide to Canadian Credit Cards

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The inaugural edition provides a structured approach that helps users find a travel, cash back or balance transfer card aligned with their financial goals and lifestyle

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This picture illustrates that different benifits of a credit card. In canada, aside from rewards, Canadian credit cards provide purchase protection, extended warranties, travel insurance, emergency help, balance transfer offers, price protection, and mobile device insurance. These benefits include financial security, ease, debt management, emergency support, and purchase protection. They also provide low-interest rates on transferred balances, price protection, and mobile device insurance.

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This picture describes about the American Express has introduced a new Canadian credit card that has no annual fee and a low interest rate which is a good news to canadians. This card is introduced to people who choose low-cost services as well as options and do not desire rewards schemes. The card's low interest rate benefits individuals who carry a balance. However, the APR should be considered, particularly if you have a balance.

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What did you learn about your topic that surprised you the most?

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What did you learn about your topic that surprised you the most?

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The topic that surprised me a lot is about the credit cards competition in Canada, and the pros and cons of each credit card companies. If the credit card usage is not wisely, it would end up in debt. I am surprised mostly about the reward offers, and minor variation in credit card terms and agreement imapct the overall value of the credit card and user. And it is always up to date and stay alert of the offers from credit cards which is very important especially the timed promotions and limited offers.

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Provide a real-life example of how this topic is relevant or intersting for you.

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Provide a real-life example of how this topic is relevant or intersting for you.

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This topic is very relevant as well as interesting for me because I had appied for different types of credit cards for the school fee payment. And I had limited knowledge about the credit card usage and its advantages as well as disadvantages. By choosing this particular topic, I am aware of the benifits of the credit cards and which are the beest cards that is good for my day to day life expenses as well as future use.

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If you could pass on your knowledge to a family member or friend, What do you think is the most important thing to pass on?

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If you could pass on your knowledge to a family member or friend, What do you think is the most important thing to pass on?

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The most important information regarding the credit card to pass on is before you ever consider credit cards, you need first understand your individual spending habits and financial goals and use the credit cards wisely and understand the pros and cons of the cards, also stay aware of the time-limited offers and rewards offering by the credit card company which can sometimes imapct the ovrerall credit value of the card.