Google the name of the bank and the product you are checking. For example, “BMO credit card”. Be sure to investigate links that say ‘legal disclaimers’, ‘learn more’, ‘additional features’, 'view details', or the footnotes above certain key words.
Websites, like www.ratehub.ca or www.ratesupermarket.ca, can help you compare offers.
We've done some research comparing Canadian cashback credit cards. We've chosen to look at CIBC, TD, RBC, Royal, & Scotia (the 'Big 5') as well as Tangerine (an online bank, owned by Scotiabank). Many retailers, like Loblaws (PC Financial), The Bay, Walmart, or Canadian Tire offer these simple credit cards too.
Click on the icon to join Morgan and sprint through credit cards.
It should take you about 8 minutes.
Call your credit card provider if you don’t think you’ll be able to pay your monthly bill because you're not working and lost your income.
Even if you’re short on funds, don’t use your credit card to borrow money. They’re one of the most expensive ways to borrow money.
Click on the diagram to find out how credit cards work.
This will open our video player.
Test your knowledge - take a FinStart quiz!
Updated September 5, 2020.
Use our tables as a guide and remember to do some research on your own.
Make credit card payments to build your credit record.
Don't use your card to borrow money.
If you're over the age of majority (18/19)...
Once you have a card...
Each phrase can have up to five words - always choose the most appropriate answer.
They're multiple choice - always choose the most appropriate answer.
You can't get your own credit card until you're the age of majority - and you don't need one anyways. Use your debit card for purchases.
Your parents may be able / willing to add you to their credit card as a secondary cardholder.
Your transactions will show on their statement and will help build your credit score even though, ultimately, your parents will be responsible for payments.
What's changed because of the coronavirus pandemic?
When you use your card responsibly and make payments on time, you build your credit history.
Good credit history can help you...
Credit cards also come in handy when you travel - for making hotel / car rental reservations.
Don't withdraw cash directly using a credit card from an ATM - you'll be charged interest immediately (no free month).
Credit card debt is dangerous - do you really need a credit card?
Morgan is turning 17 this year. His grandma decides he’s a grown boy and, much to the distaste of Morgan’s parents...
Look for no monthly fee and rewards that suit you.
Cashback is king.
Own your credit card, step-by-step.
Play 'Talk Like a Banker' - FinStart's glossary game!
If you don't like your card, apply for a different one. Only cancel the old card after you've been accepted.
Credit cards can pay for things without using cash or debit.
When you pay with credit, you're not spending your own money.
You're borrowing from the bank and will have to pay it back. This is a loan, but it's interest-free for a month.
If you don’t make the full payment when it's due, you will be charged interest for the entire month. This can get expensive because credit cards charge high interest rates.