Author Topic: Canadian Credit Cards  (Read 756 times)


  • 5 O'Clock Shadow
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  • Location: Calgary Alberta, Canada
Canadian Credit Cards
« on: April 19, 2017, 05:24:43 PM »

I currently have a Signature Rewards VISA and I'm paying 19.99% which I think is kind of insane.

I'm getting finances on track and I'm trying to reduce what I'm paying out in useless interest.

Which card would be better for me?

I'm also open to calling my bank to renegotiate.



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  • Magnum Stache
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Re: Canadian Credit Cards
« Reply #1 on: April 19, 2017, 05:34:16 PM »
That is pretty standard for any rewards card. There may be some lower-rate ones out there. If you do look for a new card, go through Great Canadian Rebates or the like to get some cash back.

You should definitely try to renegotiate your Interest rate in the meantime.

The idea is to get yourself into a position where the interest rate doesn't matter and isn't a factor in which card you get because it is paid off in full every month. If you are carrying a large (or really, any) balance on your CC you have what we would call "Hair on fire" debt.

It might be an idea to look at a balance transfer or see if you have a bank line of credit at a lower interest rate as well.