Top Cash Back Credit Cards in Canada

Written by FrugalTrader on Jun 9, 2010 filed under Credit Cards 

After you guys gave me your favorite credit cards, I did a little research and came up with what I think are the best free cash back cards in Canada.  With rewards points constantly depreciating in value, sometimes it’s best to get cold hard cash back.

Here are the contestants for the coveted title of The Top Cash Back Credit Card in Canada (all with no annual fee – updated Aug 2011):

Credit Cards Canada - Credit Card Review

Credit Cards Canada is a Canadian credit card directory listing credit cards offered by major Canadian banks and financial institutions, as well as the best credit card deals offered by Canadian stores.

We have categorized all credit cards into several categories for credit card comparison. You can browse our credit card listings by bank or by credit card type (Visa, American Express and MasterCard). You can also browse the card listings by popular credit card categories like Rewards Credit Cards, Airlines Credit Cards, Student Credit Cards, No Interest Credit Cards, Cash Back Credit Cards, No-Fee Credit Cards, 0 Interest Credit Cards, Secured Credit Cards, Instant Approval Credit Cards and Small Business Credit Cards.

Find out how to apply for a Canadian credit card, learn more about credit card history, credit card magnetic stripe, and learn how credit card numbers work. If you are concerned with credit card security, check out our Smart Credit Cards article and don't forget our Credit Card Safety Tips. We also publish credit card related articles, so make sure you bookmark our website.

What Does Credit Card Mean?
A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made and borrowing limits are pre-set according to the individual's credit rating.

Investopedia explains Credit Card
Credit cards have higher interest rates (around 19% per year) than most consumer loans or lines of credit. Almost every store allows for payment of goods and services through credit cards. Because of their wide spread acceptance, credit cards are one of the most popular forms of payment for consumer goods and services in the U.S.

 

What is Balance Transfer & How Does it Work?

If you would like to apply for a balance transfer credit card, you will need to be aware of a few things. First ask yourself, how long the low interest rate will last? Many banks and credit card lenders offer consumers a 6 or 12 month introductory period after which the interest rate will go up to the standard APR. If you are worried that you will not be able to pay off your debt in that amount of time, you should look for other balance transfer cards offering a longer period of low interest rates.

Other Types of Balance Transfers