If you’re new to Canada and considering your credit card options, here’s a guide for you. Learn all the things that you should look for in a credit card before getting one.

Building a robust credit history is an important goal for many Canadian residents. As a newcomer to Canada, aim to build your credit history right from the beginning since it helps with some of the major milestones ahead. Getting loans for education, a car, or a house is much easier if you have a credit history on the land. Look for a good credit card provider so you can have the right start in Canada.

Why Should You Get A Credit Card?

Having a credit card may seem like an extra hassle and an additional burden of monthly charges to some, but the perks far outway the cons. Building a strong credit history is an important aspect for all Canadian, especially newcomers. If you plan on buying a house or owning a car in the future, you need to maintain a trackable credit history in the region right from the beginning. Achieving big dreams often requires access to a loan, and that’s where a credit history can help you.

Other than securing your credit history, there are many additional perks that you can enjoy as a credit cardholder. Cashback rewards and shopping discounts are some of the key advantages you can get by owning a credit card.

Things To Look For In A Credit Card

Getting a credit card is an important decision and it will influence your financial future. Take time to think over some important factors before you make your pick.

●     Fees

Different credit card providers charge different annual or monthly fees to their customers. Consider the fee and compare it with the discounts and cashback that the credit card offers to decide whether it’s a feasible option. 

●     Interest rates

Credit cards charge interest at different interest rates if you don’t pay the credit card bill at the end of the month. Make sure you go for a credit card with a lower interest rate so you’re not spending more than your budget.

●     Cashbacks

Many credit cards offer this perk. It’s a reward in the form of cash earned back for each purchase that you make with the credit card. The cashback points can be used to purchase discounted hotel bookings or airline tickets.

●     Shopping discounts

The most popular credit card providers often offer discounts at shopping platforms, like Amazon, Best Buy, etc. Look out for any discounts that the particular credit card offers before you choose to go with it.

Conclusion

Read the credit card agreement with care to learn all about the fees, requirements, and perks. It will help you weigh your options and make a fine choice.