Montreal, Quebec--(Newsfile Corp. - January 10, 2023) - While all economic indices indicate inflation for 2023, milesopedia.com, THE bilingual reference media for credit card comparison, publishes its 2023 Ranking of the best credit cards. Since 2015, this exercise has aimed to help Canadian consumers make the best choices according to their needs.
With over 200 credit cards available in the Canadian market, it can be challenging to make an informed choice about which financial institution to turn to or which card to get because of the many features of each card to consider.
"With the fear of higher inflation in 2023, people will make conservative choices and optimize their current expenses (groceries, gas, bills, etc.) and discretionary expenses (vacations, restaurants, entertainment, etc.)," according to Jean-Maximilien Voisine, president and founder of Milesopedia. Credit card rewards points are a great way to save on these expenses where prices have skyrocketed in the last few months.
Each consumer should have an average of two credit cards, according to Milesopedia, which recommends having one credit card to pay for everyday expenses and a second one dedicated to trips planned during the year to benefit from rewards and insurance.
"The statistics of our comparison tools show that consumers are looking for no-annual-fee cards. But, most of the time, they realize, thanks to our calculators, that cards with an annual fee give them much more benefits, points and cash back year after year," says Etienne Werbinski, SEM Manager and Data Analyst at Milesopedia.
Milesopedia, therefore, proceeded to analyze the credit card offers of the largest Canadian financial institutions to establish its ranking. It is based on 150+ criteria such as fees, welcome offer, minimum income requirement, number of points per category, account credit, insurance, airport lounge access, etc.
This year, Milesopedia added statistics from the ten or so white-label credit card comparison tools offered on partner websites such as Protégez-Vous, FrançoisCharron, EducFinance, HelloSafe and Dollars et cents | L'actualité.
Milesopedia has selected the best credit cards from 32 categories. Below you'll find a top selection of these. To see the complete ranking with each feature and condition, we invite you to check out Milesopedia's 2023 Best Credit Card in Canada.
As a result, Milesopedia voted the CIBC Dividend® Visa Infinite* Card as the Best Cash Back Credit Card for 2023. In addition to a great welcome offer, including a refund of the first year's annual fee, it offers 4% cash back on purchases at gas stations and grocery stores; two major household spending areas in 2023.
The Best Travel Credit Card award goes to the National Bank's World Elite Mastercard®. It offers up to 5 points per dollar on grocery and restaurant purchases, up to $150 annual travel credits, access to airport lounges and excellent insurance coverage for travel and purchases.
Best no-fee cash back credit card Tangerine Money-Back Credit Card
Best credit card for everyday spending MBNA Rewards World Elite® Mastercard®
Best credit card for gas and transit BMO eclipse Visa Infinite* Card
Best Aeroplan Credit Card TD® Aeroplan® Visa Infinite* Card
Best No-FX Fee credit card HSBC World Elite® Mastercard®
Best credit card for families Scotiabank Gold American Express® Card
Best credit card for young professionals American Express Cobalt® Card
Best credit card for snowbirds Scotiabank Passport™ Visa Infinite* Card
Best Business credit card Business Platinum Card® from American Express
Canadians will find on Milesopedia's website great strategies and tips to help them maximize their finances and private mentoring services. Consumers can also benefit from a large and active community that can answer their questions within the private Facebook group Milesopedia - Credit Cards and Rewards.
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Contact
Jean-Maximilien Voisine
Founder and President
Milesopedia
(514) 549-8761 | jmv@milesopedia.com
Press room
https://milesopedia.com/en/about/press-releases/
About Milesopedia
The most used credit card comparison solution in the country, with more than 500,000 unique monthly users, thanks to partnerships with Protégez-Vous, FrançoisCharron, Educfinance, HelloSafe, Dollars and Cents | L'actualité, MonFric, BB Jetlag, Retraite101, Club Boomerang, Le Jeune Retraité and soon, Noovo Moi (Bell Media), Milesopedia has been the leading bilingual media on loyalty programs and credit cards in Canada since 2015. Since its creation, thanks to the commitment of its impressive Facebook community of over 18,000 people and the high volume of monthly traffic on its website, this innovative website has grown in popularity, as it gives Canadians the best credit card comparison solutions adapted to their profile and helps them to manage the full benefit of the various rewards programs. It is a key educational site promoting the responsible and profitable use of credit cards in Canada. To date, over 3,000 articles have been published on the site. This project was born from the passion of its founder, Jean-Maximilien Voisine, a true aviation and travel enthusiast, supported by a team of 9 permanent employees. Mr. Voisine is rightly recognized as a French-speaking expert in loyalty programs and credit cards. Milesopedia has been accredited as a Platinum Entreprise Enfant Soleil since December 2022.
Jean-Maximilien Voisine, founder and president of Milesopedia
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Jean-Maximilien Voisine, founder and president of Milesopedia
To view an enhanced version of this graphic, please visit:
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/150776
