The top credit cards that can save you big money
Sandra Hermiston and Ross McLaughlin, CTV News Vancouver
Published Wednesday, July 3, 2019 6:00AM PDT
Last Updated Wednesday, July 3, 2019 6:44PM PDT
Whether you're looking for cash back or travel rewards, finding the right credit card can save you hundreds of dollars. But with all the options out there, it can also be challenging.
"Everybody's different and everything you're looking for in a card depends on your lifestyle, whether you're a student, whether you travel a lot, whether you buy a lot of fuel for your car, whether you do a lot of shopping for rewards," said Jacob Black with Ratesupermarket.ca.
Ratesupermarket.ca recently reviewed cards in 15 different categories, and here’s a look at the cards that took top spots:
Best Rewards Card of 2019
The Scotia Momentum Visa Infinte, with average rewards after two year of $1,048.70.
"That’s a pretty significant rewards for somebody using any card," said Black.
Best Card with Travel Perks
CIBC Aventura Visa Infinite with $1,216.63 earned after two years.
Best Rewards Card with No Annual Fee
RBC Cash Back MasterCard with average rewards after two years of $554.54.
Best Card for Students
BMO SPC Cash Back MasterCard with average rewards of $464 after two years.
Fan Favourite Card
President’s Choice Financial MasterCard
Best Card for Groceries
American Express Cobalt credit card which earns an average of $1,194.68 after two years.
If you choose the right card and shop wisely you can earns hundreds of dollars in rewards each year.
"It's always important no matter what credit card to be mindful of your credit spending and we always advocate that people pay off their credit card month in month out," Black said.
Other hidden benefits that some credit cards cover include extended warranties, car rental insurance, travel, medical and trip cancellation insurance. Before you go spending on any of these, check to see if you are automatically covered if you made the purchase with your card.