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Published On: Wed, Sep 18th, 2019

2019 Best of Finance Canada Awards best credit cards

Finance comparison website RateSupermarket.ca has named the best credit cards available in Canada for 2019. In selecting the winners of its Best of Finance 2019 awards, the company has detailed the leading providers across several categories, helping consumers get the best deals on the market. 

For many, credit cards are an ideal option for making daily purchases. However, which credit card to choose is sometimes an overwhelming decision. 

Good credit means better deals, so each year RateSupermarket.ca audits credit card providers and other financial products. Based on an analysis of cash back rewards, points, and miles, the Best of Finance awards convert benefits into dollar figures. Those figures were then used to determine the Canada’s best credit cards of 2019.

Categories included on the annual list include Best Rewards Credit Cards, Best Card for Balance Transfers, and Best Card with Travel Perks.

In 2019, RateSupermarket.ca added a new category to its Best of Finance awards, Best Prepaid Card. While still a relatively new type of credit line, prepaid credit cards are becoming increasingly popular. Canadians are using prepaid cards to access funds without having to deal with any interest charges. 

Across all categories, RateSupermarket.ca looked for nominees that delivered optimized security, excellent rewards, and efficient payment setup. Importantly, the Best of Finance awards consider both traditional banking methods and digital alternatives such as providers that are wholly online. 

photo/ Michael Jarmoluk via pixabay

2019 Best of Finance credit card winners

  • Best Rewards Card: Scotia Momentum VISA Infinite Card
  • Best Rewards Card with No Fee: RBC Cash Back Mastercard
  • Best Card for Carrying a Balance: National Bank Syncro Mastercard
  • Best Card for Balance Transfers: MBNA True Line Mastercard
  • Best Card for Building Credit: Home Trust Secured VISA
  • Best Card for Students: BMO SPC Cashback Mastercard
  • Best Card with Travel Perks: CIBC Adventure VISA Infinite
  • Best Card for Groceries: American Express Cobalt
  • Best Gas Rewards Card: Scotia Momentum VISA Infinite
  • Best Store Card: President’s Choice Financial World Elite Mastercard
  • Best Prepaid Card: KOHO Prepaid VISA

Best of Finance Awards

Personal finance can be a complicated world, where credit and investing can often be daunting for consumers. Different customers have different needs, such as lifestyle choices and budget. Choosing a credit card or banking product over another can boil down to understanding the fine details and what’s on offer by comparison. 

Research has become increasingly important as finance companies deliver more products across a spectrum of niches. RateSupermarket.ca’s annual Best of Finance awards audit aims to simplify choices for consumers by recognizing the leading credit card and bank account options in Canada. 

Consumers have increasingly embraced the Best of Finance awards as an industry-recognized audit of credit cards and banking products. As people expand their understanding and realize the credit card, savings account, and mortgage they choose can directly impact their finances. The Best of Finance awards help sort the best companies from those that are underperforming, allowing consumers to see how financial providers in Canada stack up. 

Author: Shiraz Kahn

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