Our editors objectively compare credit cards and rank them on several benefits and features to give you an overall rating of how useful each card might be.<\/p>
We rate credit cards using a system of one to five stars.<\/span><\/p> <\/span> \u2013 Excellent<\/p> <\/span> \u2013 Good<\/p> <\/span> \u2013 Average<\/p> <\/span> \u2013 Subpar<\/p> <\/span> \u2013 Poor<\/p> Keep in mind, however, that our “top” picks may not always be best for you. Based on your situation, you may find certain features to be more or less important, so compare your options before you apply. While we looked at a range of cards available to us for our “top” picks, we did not compare all the products available in the market.<\/p> We compare each card to other cards of its type \u2014 travel, cash back, business and so on \u2014 and rank them on distinct factors that are most important to that card type.<\/p> We compare travel credit cards based on their rewards rates \u2014 or how much you can earn \u2014 along with the flexibility of where you can redeem your rewards. We also consider the signup bonus for each card, weighing the bonus amount against the spending required to get it. We factor in fees and APRs, heavily considering annual fees. Of course, we also look at the additional travel perks and features each card offers such as complimentary travel insurance coverage, airport lounge access and car rental perks.<\/p> When ranking cash back cards, we look at each card\u2019s rewards rate and how useful each bonus category might be to the average cardholder. We also compare fees and APRs. Finally, we rank the signup bonus of each card and take a look at how much cash back you need to earn before you can receive it.<\/p> We look at each card\u2019s rewards rate, as well as how useful bonus categories might be for the average cardholder. We consider signup bonuses, looking at both the bonus amount and the spending required to earn it. We also compare APRs and fees, as well as additional perks offered.<\/p> The most important aspects of a quality balance transfer card are the length of the balance transfer intro period, the introductory APR and the cost of any balance transfer fees. We also consider the balance transfer rate once the intro rate ends. We compare these factors, alongside the APRs and fees of each card.<\/p> When considering low interest rate cards, we take a look at purchase APRs, cash advance APRs and balance transfer APRs. We consider any cards to be low rate that have a purchase APR of 12.99% or lower. We also look at annual fees and other features, such as complimentary insurance coverage and rewards such as cash back, miles or points.<\/p> When ranking cards that come with no annual fee, we rank each card’s APRs and rewards, looking at any cash back, miles or rewards point offerings. In addition, we look at other features offered such as complimentary travel insurance coverage coverage. We also ensure the cards have no annual fee.<\/p> To compare cards for building credit, we consider the required minimum deposit and APRs. We factor in fees, focusing on annual fees. And we look at credit-building features, like whether the card allows for credit limit increases, upgrades to unsecured cards with responsible spending or access to credit building tools and resources.<\/p> We rank business cards on characteristics that tend to be important to business owners. Specifically, we rank each card\u2019s rewards rate and bonus categories. We look at fees, with a focus on annual fees and supplementary card fees. We also take into consideration any additional perks such as balance transfer offers, access to business tools and any complimentary insurance coverage.<\/p> When considering cards designed for students, we rank each card\u2019s rewards, fees and APRs. We analyze and compare features such as access to a higher credit line or student discounts. We also look at fees \u2014 most importantly, the annual fee of the card.<\/p>","protected":false},"excerpt":{"rendered":" How we compare and rank credit cards here at Finder Canada.<\/p>\n","protected":false},"author":452,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[91],"tags":[1893,89402],"asset_tag":[],"class_list":["post-872715","post","type-post","status-publish","format-standard","hentry","category-credit-cards","tag-credit-cards-2","tag-methodology"],"apple_news_notices":[],"yoast_head":"\nHow we rank credit cards<\/h3>
Travel credit cards<\/h4>
Cash back cards<\/h4>
Rewards cards<\/h4>
Balance transfer cards<\/h4>
Low rate cards<\/h4>
No annual fee cards<\/h4>
Credit-building cards and secured cards<\/h4>
Business cards<\/h4>
Student cards<\/h4>