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Credit cards

Discussion in 'Settlement Issues' started by Wolverine17, Jan 9, 2019.

  1. Which banks offer the best packages for new comers?is the interest rates fixed in all banks?and is there any banks that offer extra benefits like points to you use or miles to claim when travelling etc?
  2. There will be an annual fee for credit cards that offers points conversion to frequent flyers programs.
  3. https://moving2canada.com/best-bank-in-canada/
  4. The best credit cards may come with annual fees or require a certain level of income. Most banks have just basic cards, with 0.5 to 1% cashback or rewards.

    Interest rates on savings accounts are low although you may get 2-3% with some of the online banks (Alterna Bank, EQ Bank, Simplii, Tangerine). However my advice at the beginning is just to find a large bank that is close to your home to get their newcomer package and get started. Once you are more established and earning income, you will have all the time to look into other alternatives.
    Wolverine17 likes this.
  5. How much on average?and is it worth it?
  6. No idea how much in average, but whether it is worth it or not depends how frequent you travel. The more you travel, the more worth it.
    Wolverine17 likes this.
  7. I recomment CIBC. Because it is economical. Bank account cost is variable between 4.95 and 14.95 per month (zero when you maintain 3000). Cash back Credit card with 1500 limit is annual free charges.

    TD opens all 7 days. Account Monthly charges is 10 to 30 based on the account (can be waived if you maintain 2000 to 4000). Cashback credit card with 1500 limit is free of annual charge.

    For newcomers, Scotia bank offers 3000 limit credit card. RBC offers 2000 limit credit card.
    Wolverine17 likes this.

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