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Best Mastercard Credit Cards Canada

MasterCard credit cards are considered one of the most accepted and most reliable sources of credits that a card can have. These cards are issued by banks and other financial institutions or through different stores, shops and a variety of retail outlets. Before getting a credit card, you must first know how the card works and what features do the banks or companies offer. Furthermore, learn and remember the fees it requires for a card holder to settle for availing the service they have provided.

Prior in signing up to get a credit card and start on using it, you must be knowledgeable of the difference between a credit card and a charge card. Here are two pointers to ponder on before deciding what card you’re going to get.

•Charge Cards are usually used for gas, groceries and shopping. In addition, these cards are offered by only a few companies compared to the other types of cards. Having this type of card would expect for a strict responsibility which means that you must settle all your balances every end of a month. Each time a billing is due for payment, you should pay for it or else, multiple penalties will be charged to your account. This would then cause a high balance that the card holder will go into with the trouble paying for it.

•Credit cards are more lenient to their clients. They tolerate a card holder to carry a balance in their card in a monthly basis. But still, the company would go for on time payments of the full balance every time you get a billing statement. Penalties are not strictly charged as the bank or financial institution would give leeway time for the customer to settle their accounts.

Credit cards come in a various categories. Best Mastercard Credit Cards Canada. These are the categories involved: Good or Excellent Credit, Carry a Balance, Doesn’t Carry a Balance and Bad Credit. In addition, two sub categories are provided under the Doesn’t Carry a Balance which are Spending more or less than $2500 monthly.

Good Credit-Excellent Credit

MasterCards are in numerous numbers as different companies offer these credit cards. They come from banks and financial institutions all over the world. The variation of these credit cards is on the benefits that the card holder will have as well as the feature and promos that these cards can avail. These cards also differ in the Annual and Interest fees that are being charged by the card issuer. Moreover, they also have dissimilar penalty charges to clients who are not settling their accounts on time.

CARRY A BALANCE-LOWEST INTEREST CHARGES POSSIBLE

When credit cards do have a balance then you are having the credit cards that carry a balance. Card holders are entitled of a credit that is usable in purchasing or to be used in any other transactions. It comes with a certain credit limit depending on the ability of the card holder to pay. Usually, customers who are good payers are given high credit limits compared to those risky clients that doesn’t settle accounts for consecutive months and goes beyond the limit most of the time. But what is critical for having these cards are the interest rates it comprises. It is best to get cards that have the low interest rates possible. Check out these following cards:

Capital One SmartLine™ Platinum MasterCard

Apply Today! Capital One - SmartLine™ Platinum MasterCard

This is one of the best credit cards that Capital One offers. But this credit card requires an excellent credit history. This means that with your past credit card usage, you must not have any single penalties acquired and your credit rating must be high. The interest that comprises this card is at 5.99% which is best for individuals that save money on interest. This card is composed of great benefits that would give the card holder maximum convenience it can offer.

More features of the card are listed below:
• No Annual Fee which means less responsibility on payments.
• 19.8% interest on Cash Advances is not good rate for this kind of card service.
• Best Mastercard Credit Cards Canada
• 5.99% on Purchases and Balance transfers guaranteed for 3 years. This must require the card holder to sustain agreement status. The interest rate switches to a variable rate of Prime +3.75% on purchases and balance transfers after 3 years of being a card user for the company.
• Balance transfers don’t entail any fee or charges.

MBNA Platinum Plus® MasterCard® Credit Card – 1.99% for 10 months

Having a good credit brings immense benefits. In addition to a low initial Annual Interest Rate on balance transfer and doesn’t charge any annual fee, this MasterCard offers a high credit line to clients qualifying for this card. But this would be available for those card applicants who have good credit history as well as with its credit rating with their other credit cards. This Platinum Plus® MasterCard® credit card has a low 1.99% introductory interest rate for 10 months on Balance Transfers and Cheque Cash Advances.

Other features of the card are listed below:
• No Annual Fee that gives less burden on payment obligations.
• Credit limit up to $100,000 and could be stretched further if you are a good creditor.
• Emergency replacement within 48 hours for lost and stolen cards are free of charge.
• Online access to your credit card account is available by just login in the internet with secured login password.
• International acceptance at millions of locations around the world even in diverse areas
• Around-the-clock fraud protection that gives assurance of safety and risk-free for the clients.
• Immediate cash access at 430,000 ABMs internationally
• 24-hour customer service team that is always ready to help.
• Emergency services like lost document and ticket replacement, lost luggage assistance, travel accident insurance, auto rental insurance are also catered on the services of the company.

MBNA Gold MasterCard® Credit Card – Fixed 9.99% AIR

Clients who are not eligible to have the Platinum Plus® MasterCard® credit card could avail for this good credit card. This has a common feature with the Platinum Plus® card but a difference in their interest rate exists. This card has a fixed 9.99% annual interest rate. This card is still considered as a good and preferable card for clients. Using this card for a certain period of time until making an excellent credit history won’t get you into trouble in paying your balances along with the interests but instead, it makes you a candidate to apply for the best MasterCard credit card that is available.

Here are some features of the credit card:
• No Annual Fee for the card holder.
• 9.99% Annual Interest Rate on Purchases and Cash Advances are offered and is considered a fair rate for the client.
• Around-the-clock fraud protection that gives assurance of safety and risk-free for the clients.
• Online access to your credit card account is available by just login in the internet with secured login password.
• 24-hour Customer service that is always ready to help.
• Immediate cash access at 430,000 ATMs internationally
• Emergency services like lost document and ticket replacement, lost luggage assistance, travel accident insurance, auto rental insurance are also catered on the services of the company.

DOESN'T CARRY A BALANCE - REWARDS CARDS

Credit cards under this category are usually applied by clients who use their credit cards for convenience. They just pay off their due statements every month depending on how much credits they have used. The advantage of these credit cards is that when you are paying your balance regularly each month, you are receiving more value out of the card usage. In this way, you are collecting as much rewards points. These reward points could then have an equivalent reward depending on the amount of points you have accumulated. For example, when you already have $500 WorldPoints after using the MBNA WorldPoints® credit card, you are then entitled to exchange it with a gift certificate that is worth the amount of points you traded it with. You can then use the gift certificate to get merchandises that WorldPoints offers. Card holders can choose what rewards points they are going to collect.

We break these categories out by if the individual spends a lot each month using their cards, or a little. (Generally the marker is around $2500 per month.) If you spend less than $2500 then you would consider a different card than if you spend more than $2500 per month.

The cards in this category have annual fees. You should take note of the different annual fee charges for each specific card whether it would be fair on your part or too expensive for you to handle which maybe would get you to problems in settling your balances.

Spend More Than $2500 / Month - Rewards Cards

In this category, card users are those who spend more than $2500 per month or more than in using their credit card. This means that when you receive your billing statement, they have reached more than $2500 with your balance. This credit card then fits these types of clients. Clients would surely settle their annual fees to prevent penalties but as well gain rewards points from using the card in their transactions.

The target for these kinds of credit cards is to take advantage of the rewards they offer. With every dollar spent, it is equivalent to specific rewards points. In this case, you have a win-win situation because even you have spent a cost, you will receive a point which in turn would entitle you to avail great merchandise, ticket bookings, hotel reservations, gift certificates and many more.

MBNA PremiereRewards®

This credit card allows you to receive a generous Cash Back percentage for the retail purchases you have made with the card. If you are a big spender then it won’t be a problem because there is no certain limit in the amount of point you can accumulate or collect from all the card transactions made. With your reward points, you can reap rewards after spending much with the MBNA PremierRewards® card. No worries about the hassle of getting your earnings because the money you have earned would be lost for not claiming it but instead it will be instantly credited to your personal account every January. So, this card is really ideal to apply for.

This credit card comprises these following features:
• 1% back on all net retail purchases using the credit card.
• No Annual Fee for the card holder.
• 19.99% Annual Interest Rate on Purchases and 19.99% Annual Interest Rate on Cash Advances is offered and is considered a fair rate for the client.
• Around-the-clock fraud protection that give assurance of safety and risk-free for the clients.
• Online access to your credit card account is available by just login in the internet with secured login password.
• 24-hour Customer service that is always ready to help.
• Immediate cash access at 430,000 ATMs internationally
• Credit line of up to $100,000 and could be stretch further if you are a good creditor.

Capital One Miles Platinum Plus MasterCard™

This credit card is unique in the sense that this allows you to collect many points. These Miles Points would then be redeemed with travel purchases which can be flight tickets. Best Mastercard Credit Cards Canada. This will give the client less expenses as they don’t need to spend cash but instead utilize the ticket they got from the rewards that the Miles Platinum Plus MasterCard offers. In addition, the rewards also would cater the taxes and airport fee charges.

Earning points with Miles Platinum Plus MasterCard by:
• Every dollar spent during purchases with the card is equivalent to 2 reward miles points.
• When receiving the card, the first time you use the card would instantly entitle you 25, 000 bonus reward miles point that can redeem rewards.
• Doing balance transfers and cash advance doesn’t have an equivalent reward point.

Furthermore, the Miles Platinum Plus MasterCard is completely different from other reward credit cards like Aeroplan or Airmiles because these companies don’t cover the air fare taxes as well as the terminal fees. Miles Platinum Plus MasterCard covers everything which means that it lessens the burden and expense of the card holders. Hence, it provides comfort and a hassle-free travel.

MBNA WorldPoints®

The MBNA WorldPoints rewards credit card is the choice for client who wants rewards after spending credits with their cards. Furthermore, the client won’t experience any hassle of the annual fee charges as this card doesn’t have one. Everything offered for this card is to the advantage of the user. Points are easily earned in two ways: first, when purchasing using your MasterCard, you instantly get a bonus point and continue to earn for every dollar spent which is 1 WorldPoints. Second is during anniversaries where they give instant bonus points yearly. You redeem your points and earn by exchanging it with either of the rewards: travel, gift certificates, and merchandise. When it comes to transferring a balance from one credit card to another, low fees are charged.

This credit card comprises these following features:
• 1,000 Bonus WorldPoints after your first purchase is given instantly the card user.
• No Annual Fee for the card holder.
• 19.99% Annual Interest Rate on Purchases and 19.99% Annual Interest Rate on Cash Advances is offered and is considered a fair rate for the client.
• Earn 1 WorldPoint for every $1 in net retail purchases which you can collect and redeem rewards.
• Around-the-clock fraud protection that give assurance of safety and risk-free for the clients.
• Online access to your credit card account is available by just login in the internet with secured login password.
• 24-hour Customer service that is always ready to help.
• Immediate cash access at 430,000 ATMs internationally

Best Western MasterCard®

Best Western is one of the premiere hotels that provide excellent hotel services. It is offering its own rewards credit card for customers who usually stay at their place and for those people who keeps on travelling and don’t have a place to reside. Using this card allows you to gain Gold Crown Club points which could then be used to get a free hotel booking or other rewards they offer. With other credit cards offering no annual fee, this card also doesn’t have an annual fee which provides less hassle on the part of the clients. Balance transfers are charged with very low fees which would not be considered as a risk.

This credit card comprises these following features:
• Earn 1.5 Best Western Rewards points for every $1 in net retail purchases using the credit card.
• Receive 5,000 Best Western Rewards points after your first qualifying purchase is given instantly the card user.
• No Annual Fee for the card holder.
• 19.99% Annual Interest Rate on Purchases and 19.99% Annual Interest Rate on Cash Advances is offered and is considered a fair rate for the client.
• Around-the-clock fraud protection that give assurance of safety and risk-free for the clients.
• Online access to your credit card account is available by just login in the internet with secured login password.
• 24-hour Customer service that is always ready to help.
• Immediate cash access at 430,000 ATMs internationally

Spend Less Than $2500 / Month - Rewards Cards

Card holders that belong to this category are those clients that spend less than $2500 per month in using their credit cards. This card holder keeps a good budget with their finances as they would go for the things that are necessary for them. Best Mastercard Credit Cards Canada. They would not just spend any amount in using their credit cards but they are particular of the cash back or rewards they will receive. They are taking advantage of the feature promos that each specific cards can offer them. The more benefits that they will get, the higher the chances that they would apply for that credit card.

Capital One Cash Back Platinum MasterCard® with No Hassle Rewards™

This type of card are for those clients who are not spending much but wants to receive cash backs or rebates. They don’t want to spend a certain amount for a merchandise but instead use the cash back they receive to have larger savings. Features of this card are different from other cards. One of which is that this card has no annual fee that gives an additional savings for the client. Know the other benefits of this card.

The following are the Cash Back Platinum MasterCard® with No Hassle Rewards™ benefits that a card holder is entitled of:
• 0.5% cash back annually is given to the card holders account on total purchases up to $3,000 while 1% cash back annually is also returned when the total purchases reaches above $3,000
• There is no annual fee charged by the company.
• For the convenience of the customer, redeem your cash by cheque or get a credit on your statement given by the company or through the company’s website.
• Best Mastercard Credit Cards Canada
• There are no earning capacities with this card which mean client continuously earn cash back and rebates as long as they are continuously using their cards on purchase.

BMO CashBack MasterCard®

BMO CashBack MasterCard offers their client cashbacks when spending at different Shell location in Canada. Cashbacks are also awarded when you get a car rental at National Car Rental or Alamo Rent a Car where their branches are located worldwide. This two rent a car companies also give big discounts once you get to have their services.

BMO CashBack MasterCard card details are listed below.
• The card doesn’t have any annual fee charged by the company.
• For every card purchase made there is 0.5% cashback given to the client.
• When spending and enjoying the Shell station services, 1.5% cashback is returned to the customer.
• National Car Rental & Alamo Rent A Car would also give 1.5% cashback when you rent a car at their shops which are located worldwide.
• Huge discount of up to 25% on rentals done at National Car Rental & Alamo Rent A Car.
• Interest rate is at 19.5% which is fair enough for the card holder to handle during billing payments.

Capital One Miles Platinum MasterCard® with No Hassle Rewards™

Clients who are frequently flying to do business or go for vacation trips belong to this type of card. This card gives great rewards to its card holders without spending too much money. They would get more rewards than spending. Rewards that are offered by the company include travel bonuses in which the client can redeem flight tickets as exchange of the points collected.

Here's what you get with this card:
• You receive one reward mile for each dollar you spend using the Miles Platinum MasterCard® with No Hassle Rewards™ in purchases.
• You'll receive 25,000 bonus reward miles when you make your first purchase of the card and it will be awarded instantly.
• Your reward miles will never expire as long as your account exists. This would also mean that there is no limit in earning points to redeem rewards.
• Flexibility. You can redeem your points for travel, cash, and merchandise or gift cards.

Bad Credit – Fair, No or Limited Credit and No Credit History

Credit cards that are presented here are those card holders who don’t have enough credit history as well as credit rating. Clients who are first time user of credit cards also would belong here. Credit cards offered in this portion are categorized into three. The categories go as follows: Secured credit cards, Carry a Balance and Don’t Carry a Balance. Check out each category and also each credit cards provide in order to know what is the best card that fits you.

SECURED CREDIT CARDS – LOW INTEREST CARDS

Clients do have past history with their past use of credit cards. Sometimes, these clients can’t avoid of having bad credit history which could affect also the credit rating. Some are don’t have any credit history yet as they are first timers in applying a credit card. These credit cards are the key in getting a good start of building an excellent credit history again. These cards also offer less interest which means less risk for the client to be troubled in paying their balances. Compared the card benefits and pick the card that gives you much advantage.

Capital One Low Rate Guaranteed Secured MasterCard®

Capital One offers this card to clients who don’t have any credit or limited credit history. This is a card that allows customers to start building their credit history. One of the perks of this card is that a guaranteed approval of having the card. Another is the low interest rate it offers as well as low annual fees.

This credit card comprises these following features:
• Any application of the card has a guaranteed approval.
• Master RoadAssist™, MasterCard Global Service™ and MasterCard PayPass™ are use in tap-and-go pay system that gives less hassle for the client in payment as the card don’t need to be swiped.
• Low Interest rate of 14.9% on purchases and balance transfer that does not bring trouble to client during payment of balances.
• The customer service is on standby 24/7 through phone or online.
• 0$ fraud liability for any unauthorized purchases.
• Give you the chance in building a credit history.

Citi® Secured MasterCard®

This credit card helps client rebuild their credit history to be able to apply soon to conventional credit cards. The bank would require depositing an amount that would range from $200 to $5, 000 into a certificate of deposit. This would then become the credit limit of the credit card.

Here are the features of the credit card:
• Having the card you may become eligible for an unsecured card after 18 months of card usage.
• $0 liability on unauthorized charges made into the client account.
• Citi® Identity Theft Solutions protects the account and personal information of the card holder.
• No required income or co-signer to start building a record of account performance.
• With retail purchase protection, the items purchased with your card are safe against accidental damage or theft for up to 90 days from the day the product is bought.
• Tap-and-go system of Citi MasterCard® Payment Tag with PayPassTM is a new innovation where you just tap your card rather than the old system of swiping it.
• Citi® Credit Card Benefits & Services offers cash or rewards such as American Airlines® awards and travel benefits to cash back and college saving.

Orchard Bank Secured MasterCard®

Best Mastercard Credit Cards Canada. Client who undergoes bankruptcy would have a hard time qualifying for a conventional credit card because of its qualification like having a good credit history. This card offers best value for customers who need to restore their credit history after undergoing serious credit setback. The company gives much benefit to their card holders. Check the list of feature and benefits the card offers.

List of Orchard Bank Secured MasterCard benefits:
• No annual fee charges on the 1st year of card usage. Succeeding years would have fees but can be waived based on credit performance.
• No account processing fee for any transactions made.
• Low interest rate for the client enjoyment of card usage.
• A credit report is transmitted to 3 major credit bureaus that evaluate and updates the client’s credit history.
• Credit limit is based on the account deposit funds. It start at $200 account balance.

CARRY A BALANCE – WITH MAXIMUM BENEFITS

Credit user is entitled to carry a balance on their credit cards. The cards can be used to the extent of how much credit line is available for the card holder to spend. Low rate are available and is risk-free in getting into trouble of too much debt acquired. This card are for client who has bad or fair credit as well as new credit card holder who has none or limited credit. In addition, client who has bad credit history belongs in this category.

Capital One Guaranteed MasterCard®

Apply Today! Low Rate Guaranteed MasterCard®

This card allows the card users to experience all the benefits of having a credit card. Capital One gives the client the luxury to be able to rent a car, do shopping online or book hotel rooms. With this Capital One credit card in your hands, your credit history will not suffer but instead build up as long as you pay your bills on time. This card has a lot more to offer. Check it out below.

Other Capital One Guaranteed MasterCard benefits:
• Travel benefits offered: Master RoadAssistTM, MasterCard Global ServiceTM, MasterAssistTM Travel Assistance Service for client safety all the time.
• Travel accident insurance is also given aside from the safety assistance.
• MasterCard PayPass™ give convenience in paying bill for the card holder.
• Tap-to-Go system when using the card to have less hassle from card swiping.
• 27/7 standby customer service to phone or online.
• $0 fraud liability for unauthorized card use.
• The Guaranteed MasterCard® additionally protects you with purchase assurance and extended warranty for the time the client is still rebuilding the credit history.

DON’T CARRY A BALANCE – REWARDS CARD

Card holders under this category are considered convenience users as they used the card credit and pay them off each month when their billing statement is received. They spend less but get as many rewards points. The acquired points can then be redeeming with rewards. In addition, cash backs are given in certain percentage of the purchases made.

Capital One Cash Back Guaranteed MasterCard® for Gas & Groceries

For client who is seeking for a rewards card and at the same time building an excellent credit history, Capital One Cash Back Guaranteed MasterCard is the right credit card for you. This card would let you gain points to redeem specific equivalent rewards. It also provides cash back on the total purchases made using the card. Receiving cash back don’t have any limit as long as the account exists.

More credit cards benefits listed below:
• 2% cash back on gas payment are returned to the client and also with the groceries purchases.
• Additional 1% cash back on all other purchase with the card.
• $0 fraud liability on unauthorized use of the credit card.
• Client can reach the 24/7 customer service through phone or online.
• In redeeming rewards customer is given an option to choose if the cash back will be via statement or cheque.
• Annual fees are reasonably fair as the company allows additional authorized user to every account.

Having read and learned for the different credit cards that belong to a specific category. It is your time to think and choose what credit card suits your lifestyle and your needs. Be wise to compare their benefits as each card are considered unique. Weigh out which benefit are you interested on and would give you much savings. Apply then and enjoy the freedom of spending!

SEE ALSO

Carry A Balance Cards

Best Capital One Credit Cards Canada

Best Secured Credit Cards Canada

References

What is an Annual Percentage Rate?

Annual Percentage Rates

Credit Card Travel Insurance Policies

External Links

HomeTrust - Secured Visa

Carry A Balance To Get Good Credit

Get A Credit Score

MBNA Credit Cards

ReviewCentre - Credit Cards Reviews

BEST MASTERCARD CREDIT CARDS CANADA