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HomeCredit Cards Resources55 Different Types of Credit Cards in Canada

In Canada, there are several types of credit cards available to consumers. Some of the most common types of credit cards are:

  1. Rewards credit cards: These credit cards offer rewards such as cash back, points, or miles for every dollar spent.
  2. Travel credit cards: These credit cards are designed for people who travel frequently and offer rewards such as free flights, hotel stays, and travel insurance.
  3. Cashback credit cards: These credit cards offer cash back on purchases made with the card, typically ranging from 1-5%.
  4. Low-interest credit cards: These credit cards offer a lower interest rate than most credit cards, making them a good choice for people who carry a balance on their card.
  5. Balance transfer credit cards: These credit cards allow you to transfer your balance from another credit card with a high interest rate to the new card with a lower interest rate.
  6. Secured credit cards: These credit cards require a security deposit and are a good option for people with a low credit score or no credit history.
  7. Student credit cards: These credit cards are designed for students and typically have lower credit limits and fewer rewards than other credit cards.
  8. Business credit cards: These credit cards are designed for business owners and offer rewards such as cash back, travel rewards, and business-specific benefits.
  9. Prepaid credit cards: These credit cards are loaded with a specific amount of money and can be used like a regular credit card. They are a good option for people who want to avoid overspending or who do not qualify for a traditional credit card.
  10. Premium credit cards: These credit cards offer a range of benefits such as higher rewards, airport lounge access, concierge services, and travel insurance. They also typically have higher annual fees.
  11. No annual fee credit cards: These credit cards do not charge an annual fee and are a good option for people who do not use their credit card frequently or who want to avoid paying fees.
  12. Co-branded credit cards: These credit cards are offered in partnership with a specific retailer or brand and offer rewards such as discounts, cash back, or points when making purchases at that retailer.
  13. Charity credit cards: These credit cards allow you to donate a portion of your spending to a specific charity or organization.
  14. Credit-building credit cards: These credit cards are designed for people with little or no credit history and offer a way to establish credit by making regular payments and building a credit history.
  15. Airline-specific credit cards: These credit cards are co-branded with specific airlines and offer rewards such as free flights, priority boarding, and lounge access.
  16. Credit cards for bad credit: These credit cards are designed for people with a poor credit score and offer a way to rebuild credit by making regular payments and demonstrating responsible credit use.
  17. Retail credit cards: These credit cards are offered by specific retailers and offer rewards such as discounts, cash back, or points when making purchases at that retailer or their affiliated stores.
  18. Fuel credit cards: These credit cards offer rewards such as cash back or points for purchases made at gas stations and may also offer discounts on fuel purchases.
  19. Cash advance credit cards: These credit cards allow you to withdraw cash from an ATM or bank, but typically charge high interest rates and fees for cash advances.
  20. Secured line of credit cards: These credit cards are similar to secured credit cards but offer a line of credit rather than a credit limit.
  21. Low-income credit cards: These credit cards are designed for people with a low income and offer a low credit limit, lower fees, and reduced interest rates.
  22. Joint credit cards: These credit cards are held jointly by two people, typically spouses or partners, and offer shared access to credit and rewards.
  23. Corporate credit cards: These credit cards are issued to employees of a company and are used for business expenses. They may offer rewards such as cash back or travel rewards, and may also offer expense tracking and reporting features.
  24. Multi-currency credit cards: These credit cards allow you to make purchases in multiple currencies and may offer lower foreign exchange fees and better exchange rates.
  25. Virtual credit cards: These credit cards offer a temporary card number and expiration date that can be used for online purchases to protect against fraud and unauthorized charges.
  26. Instant approval credit cards: These credit cards offer a quick approval process and may be a good option for people who need a credit card quickly.
  27. Premium rewards credit cards: These credit cards offer higher rewards and benefits such as airport lounge access, hotel upgrades, and premium concierge services. However, they typically have high annual fees and may require a high credit score.
  28. Credit cards with purchase protection: These credit cards offer purchase protection such as extended warranties, price protection, and purchase insurance to protect against loss, theft, or damage to items purchased with the card.
  29. Credit cards with rental car insurance: These credit cards offer rental car insurance, which covers damage to or theft of a rental car when paid for with the credit card.
  30. Credit cards with travel insurance: These credit cards offer travel insurance benefits such as trip cancellation and interruption insurance, medical insurance, and baggage insurance.
  31. Credit cards with balance protection: These credit cards offer balance protection insurance, which covers the minimum payment on the credit card in case of unexpected events such as job loss or disability.
  32. Credit cards with no foreign transaction fees: These credit cards do not charge foreign transaction fees for purchases made outside of Canada, which can save money on international purchases.
  33. Secured cashback credit cards: These credit cards require a security deposit and offer cash back rewards on purchases made with the card.
  34. Credit cards with no credit check: These credit cards do not require a credit check and are a good option for people with a poor credit history or no credit history.
  35. Credit cards with instant cashback: These credit cards offer instant cashback on purchases made with the card, which can be redeemed for statement credits or cash.
  36. Credit cards with mobile payments: These credit cards are compatible with mobile payment apps such as Apple Pay or Google Pay, allowing you to make contactless payments with your smartphone.
  37. Credit cards with no foreign exchange fees: These credit cards do not charge fees for purchases made in foreign currency, which can be a good option for frequent travelers.
  38. Credit cards with annual fee waivers: These credit cards offer a waiver on the annual fee for the first year or for a certain amount of spending on the card.
  39. Credit cards with charity donations: These credit cards allow you to donate a portion of your rewards or cashback to a specific charity or organization.
  40. Credit cards with referral bonuses: These credit cards offer bonuses when you refer a friend or family member to apply for the same card.
  41. Credit cards with concierge services: These credit cards offer 24/7 concierge services that can assist with travel planning, restaurant reservations, and event tickets.
  42. Credit cards with VIP airport lounge access: These credit cards offer access to exclusive airport lounges, which can provide a comfortable and relaxing travel experience.
  43. Credit cards with purchase rewards: These credit cards offer rewards for specific categories of purchases, such as groceries, gas, or dining.
  44. Credit cards with business benefits: These credit cards offer benefits tailored to business owners, such as expense tracking, cash flow management, and employee cards with customizable limits.
  45. Credit cards with mobile phone insurance: These credit cards offer insurance coverage for lost, stolen, or damaged mobile phones, when the phone is purchased with the credit card.
  46. Credit cards with extended warranty: These credit cards offer extended warranty coverage for eligible purchases made with the credit card, beyond the manufacturer’s warranty.
  47. Credit cards with no annual fee and no foreign transaction fees: These credit cards do not charge an annual fee or foreign transaction fees, making them a good option for frequent travelers.
  48. Credit cards with auto rental collision/loss damage insurance: These credit cards offer coverage for rental car collision or loss damage when the rental car is paid for with the credit card.
  49. Credit cards with premium travel benefits: These credit cards offer premium travel benefits such as travel credits, airport lounge access, and elite status with airlines or hotels.
  50. Credit cards with identity theft protection: These credit cards offer identity theft protection and monitoring services to help protect against fraud and unauthorized use of your personal information.
  51. Credit cards with no foreign transaction fees and no annual fee: These credit cards do not charge foreign transaction fees or annual fees, making them a good option for infrequent travelers.
  52. Credit cards with low balance transfer fees: These credit cards offer low fees for balance transfers from other credit cards, which can help consolidate debt and save money on interest charges.
  53. Credit cards with price protection: These credit cards offer price protection, which provides a refund if the price of an item you purchased with the credit card drops within a certain timeframe.
  54. Credit cards with mobile phone plan discounts: These credit cards offer discounts on mobile phone plans when the monthly bill is paid with the credit card.
  55. Credit cards with gas station rewards: These credit cards offer rewards or cash back for purchases made at gas stations.

About the Author: Valerie D. Hahn

Valerie is an insurance editor, journalist, and business professional at RateLab. She has more than 15 years of experience in personal financial products. She strives to educate readers and ensure that they are properly protected.

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