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Which Credit Cards Are Most Popular In Canada?

Canadians love using credit cards to pay for their purchases. We recently highlighted this fact with some statistics to prove our point in a recent blog. It’s no secret that Canada is inching closer towards being a “cashless society” with each passing day. But it’s important to point out that not all credit cards are created equal. With so many on the market, it can be tough for consumers to decide which ones to use.

For some credit card users, accumulating rewards points is a must. It makes credit card use so much more beneficial when you can get more than what you paid for. In many cases, rewards programs offer consumers the ability to get free travel and/or accommodations. Of course, there are also cash back cards which do just that – give you money back. But which credit cards are the most popular in Canada?

Scotiabank Gold American Express® Card.

According to Barry Choi, Julie Cazzin and Keph Senett on MoneySense.ca, the Scotiabank Gold American Express® Card is a chart-topper. It enables users to earn five Scotia Rewards®* points on every one dollar they spend on eligible purchases. Points can be redeemed for the latest in technology and merchandise from the Apple and Best Buy catalogues available through the Scotia Rewards program.

Users of this card get five times the points for every dollar spent on eligible grocery stores, restaurants, fast food and drinking establishments. This includes popular food delivery and food subscriptions. They also get five times the points for every dollar spent on eligible entertainment purchases including movies, theatre and ticket agencies. As well, they get three times the points for every dollar spent on eligible gas and daily transit including buses, taxis and subways.

TD First Class Travel®Visa Infinite* Card.

Choi, Cazzin and Senett also herald the TD First Class Travel®Visa Infinite* Card. This credit card allows its users to redeem TD Points for travel and travel-related purchases. There are no travel blackouts, no seat restrictions and no expiry dates for TD Points as long as accounts are kept open and in good standing. This is excellent news for lovers of travel who are grounded during the pandemic. The spending on their cards may lead to free trips once they are safe to take!

TD Points can also be put towards making purchases at Amazon.ca with Amazon Shop with Points. As well, cardholders can redeem TD Points for everyday perks like cash back, gift cards and more.

Tangerine Money-Back Credit Card.

The Tangerine Money-Back Credit Card is another Canadian favourite. As its name clearly conveys, this card gives users cash back on everyday purchases. In fact, Canadians get up to 2% cash back on items in two 2% Money-Back Categories of their choice. They also get 0.50% Money-Back Rewards on all everyday purchases. There is no limit to the amount of Money-Back Rewards a cardholder can earn on everyday purchases.

Do you accept credit cards in your store? At Unity Payments, we believe that the easiest and most convenient way for merchants to accept credit cards is with the Poynt Smart Terminal. It’s the world’s first “smart” terminal and it has revolutionized the ways in which businesses accept payments for purchases. To learn more, please don’t hesitate to call us at 1-800-661-3761. You may also email us at info@unitypayments.ca.

Author

Dan Faraldo