Eighth Annual Report Reveals Canada's Best Credit Cards and Personal Banking Products for 2019

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Eighth Annual Report Reveals Canada's Best Credit Cards and Personal Banking Products for 2019

Canada NewsWire

RateSupermarket.ca analyzes dozens of personal finance products every year to help Canadians find their best fit.

TORONTO, May 15, 2019 /CNW/ - Which credit card offers the best travel perks, which is an excellent choice for transferring a balance, offers top rewards or is ideal for students? RateSupermarket.ca analyzed dozens of credit cards in 15 categories for its annual Best of Finance report to determine what will give Canadians the best bang for their bucks this year.

Eighth Annual Report Reveals Canada’s Best Credit Cards and Personal Banking Products for 2019 - Best of Finance 2019 (CNW Group/RateSupermarket.ca)

"Canadians are faced with a myriad of credit card and personal banking product choices but have limited time or resources to determine which ones will save them the most money or provide the best perks," said Jacob Black, RateSupermarket.ca. "Our Best of Finance report was designed to fill that gap and take the guesswork away. The winners in each category represent the culmination of a comprehensive analysis aimed at helping Canadians choose the best options available for them in today's marketplace."

New in 2019 and first in the Best Card for Groceries category is the American Express Cobalt™ Credit Card. This card displaces the PC Financial® Mastercard®, which had taken the category two years in a row.

The Scotia Momentum® Visa Infinite Card is the best Gas Rewards Card for the second year straight, while also claiming top spot in the Best Rewards Card category six years running.

RateSupermarket.ca customers once again voted in the reigning Fan Favourite, PC Financial® Mastercard® as their top card of 2019.

RateSupermarket.ca 2019 Best of Finance Winners

The Best Credit Cards of 2019

Best Rewards Card

Best Rewards Card with No Annual Fee / Low Income Requirements

Best Card for Carrying a Balance

Best Card for Balance Transfers

Best Card for Building Credit

Best Card for Students

Best Card with Travel Perks

Best Card for Groceries

Best Gas Rewards Card

Best Store Card

Fan Favourite Card

Best Prepaid Card

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The Best Banking Products of 2019

Best Savings Account

Best Chequing Account

Best Cashable GIC

Methodology

RateSupermarket.ca reviewed and analyzed 15 credit cards and personal finance products from April 1-10, 2019.

Credit Cards:
RateSupermarket.ca converted miles, points and cash back into dollar figures. Interest rates, balance transfer rates and annual fees were examined, and each product's fine print was carefully deciphered.  The credit cards that provided the most value ranked at the top of their category.

Bank account and investment products:
RateSupermarket.ca evaluated these vehicles based on total interest earned over a five-year savings term while taking a typical initial balance and monthly fees into account.

Fan Favourite Credit Card:
Canadians voted on Facebook for the credit cards that best performed for them.

For a detailed calculation of the best credit cards and banking products, please visit here.

About RateSupermarket.ca Best of Finance 2019

Since 2012, RateSupermarket.ca has performed an annual audit of personal finance products, focused on credit cards and personal loan products. Each value is determined by converting interest rates, fees, and benefits into a cash value. 

About RateSupermarket.ca 

Launched in 2008, RateSupermarket.ca is Canada's one-stop shop for the best rates on personal finance products offering over 11 million Canadians the best mortgage rates, credit cards, bank accounts and GIC rates. 

Headquartered in Toronto, Ontario, RateSupermarket.ca is located at 360 Adelaide Street West, Suite 100, Toronto, ON, M5V 1R7 

RateSupermarket.ca (CNW Group/RateSupermarket.ca)

SOURCE RateSupermarket.ca

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2019/15/c0354.html

Copyright CNW Group 2019

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