If you reside in the country of Canada and are looking for Canada credit cards then you will be very glad to know that the vast majority of financial institutions offer credit cards to their customers. That includes the leading banks, the smaller banks and the credit unions. Different types of advantages accompany the various different credit cards. For example some offer cash back, while others offer low interest rates, frequent flyer miles or rewards/discounts. The features of Canada credit cards are based upon the profiles of those who apply. For example, a student would qualify for a different card than would a small business owner.
The very first credit card in Canada was an all-purpose card that made its appearance in the summer of 1968. This card was known as Chargex. Eleven years later in 1979 the Chargex name was replaced by Visa. Within a period of 10 years the card was being used by over six million people. In 1973 the Bank of Montreal followed suit and introduced Mastercharge which today is MasterCard. As of the year 2008 there were approximately 31 million Visa cards in circulation throughout Canada. There are an even larger number of MasterCard credit cards in usage.
Canada happens to have one of the most highly developed of all of the credit card processing systems throughout the world. Some of the most popular names of financial institutions that issue credit cards include MBNA Canada, HomeTrust, BMO Bank of Montreal, Capital One, Scotia, TD Canada Trust, Laurentian Bank Canada, ICICI Bank and RBC Royal Bank.
When it comes to Canada credit cards one of the most important methods of choosing the one that is right for you is to take a close look at the Financial Consumer Agency of Canada (FCAC) website. The government of Canada runs the website. At the site can be found a database of all of the credit card options you have available to you. You can look over the choices and from there decide which one is most fitting for your needs.
The choices of Canada credit cards might seem dizzying but upon closer inspection the fact that there is a variety is actually a good thing. There is something for everyone. There are regular credit cards which can be subdivided into standard credit cards, gold cards and platinum cards. There are also specialized cards such as cards for students, cards for American use, charge cards, secured cards for those with poor to bad credit and retail store cards.
