Canadians have more choice with credit cards

Rewards, insurance, low-interest rates… which credit card to choose? It all depends on the individual.

Credit cards are one of the most useful tools in a person’s wallet – if used appropriately. These cards can help build credit, provide many different types of insurance, offer rewards and loyalty-type programs, as well as give low-interest rates to the borrower.

That being said, finding the right card is often times difficult with the number of credit cards available today. Understanding goals and main uses will help make the decision that much easier.

Reward cards, a perk many Canadians choose. The selection process for a credit card was much easier before rewards came into play. Nowadays, the options are endless. From airline miles to gas rewards, and cash-back to in-store rewards, choosing a card can be a tough decision. Start by

identifying goals and patterns. Travel often? Frequent certain stores that provide rewards? Or, does cutting down on monthly gas bills sound better?

Insurance is available to protect

cardholders. Unknown to many people, credit cards provide excellent protection for rental car, flight delay, travel medical, extended warranty and purchase security. If looking to be covered for any one of those, a card heavily-focused on insurance might be the right one.

Low-interest rates and balance transfers may help with debt. People who carry any debt or balance on their cards can benefit from looking into a new credit card that offers a low balance transfer rate or a low-interest credit card. Take advantage of promotions available to consolidate any debt and help pay off the principal balance faster.

Finding the right credit card is crucial when in the market for a new card, or looking to replace an existing card. Comparison websites like ComparaSave.com make it easier to compare the benefits of each card by saving consumers time, money and a whole lot of confusion.