RateSupermarket.ca announces the winners of the 2016 Best of Finance awards in the credit card, banking and investment product categories. This annual product review makes it easier for Canadian shoppers to understand which financial products offer the best value.
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Reasons for choosing a specific credit card vary depending on the consumer’s lifestyle, but ultimately every Canadian is looking for a product that offers the best value and suits their needs.
The top performers put the most money back in the consumer’s wallet. Categories include Best Grocery Rewards Credit Cards, Best Savings Account with No Minimum Balance and Best GIC 5-Year Non-Cashable.
“Each Canadian credit card and bank account is unique in what it offers, so it’s always wise to read the small print and know what you’re signing up for,” says Jackie Rosen of RateSupermarket.ca. “Our goal with the Best of Finance is to highlight the top personal finance products on the market and help Canadian consumers make educated decisions.”
Here are the credit card winners in some of our most popular categories:
Best Grocery Rewards Credit Card
President’s Choice Financial® World Elite MasterCard®
Best Travel Rewards Credit Card with Fee
TD® Aeroplan® Visa Infinite
Best Cash Back Credit Card with No Fee
Tangerine Money-Back Credit Card
Here are the banking and investment winners in some of our most popular categories:
Best Savings Account with No Minimum Balance
EQ Savings Plus Account
Best Chequing Account with Low Balance
Tangerine No Fee Daily Chequing
5-Year Cashable GIC – Non-Registered
ICICI Bank Canada GIC
To assess the winners, RateSupermarket.ca converted miles, points and cash back into cash figures, examined interest rates, balance transfer rates and annual fees and carefully deciphered each product’s fine print. These figures were then compared against one another, using everyday expenditures, such as gas and groceries, that the average Canadian spends over a 12 and 24-month period according to Statistics Canada. The credit cards, bank accounts and GICs that provided the most cash value were placed at the top of their category.
Over seven-million Canadians have found their best rate for personal finance products on RateSupermarket.ca. Launched in 2008, RateSupermarket.ca is Canada’s most comprehensive rate comparison site, offering visitors transparent access to the best mortgage rates as well as credit cards, bank accounts, insurance quotes and GIC rates.