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December 2018

How to make your credit card work harder for you


(NC) When it comes to choosing a credit card, the options can feel overwhelming. With a wide variety of benefits, rates, fees and overall experiences, it’s often hard to know which card is going to work best for your specific needs.

A recent study conducted by J.D. Power examined customer satisfaction with Canadian credit card companies. The findings, which surveyed more than 6,000 people, shed some light on key factors to consider when selecting the credit card that will best serve you:

Fees. It’s a common misconception that a fee automatically suggests bigger, better rewards or benefits. If you’re paying to get perks, consider how regularly you will be able to take advantage of them. If you can’t think of regular scenarios where those benefits will outweigh the fee, the math may not add up. Often, a no-annual-fee card will have everything you need and some great advantages that cost you nothing off the top. PC Financial, which was ranked number one in customer satisfaction with credit card companies in the survey, offers three no-annual-fee cards.

Customer experience. When choosing your credit card, check out customer reviews to learn about other people’s opinions about their overall satisfaction and experience. To maximize your card’s value, you will need to read the fine print and you may have questions. Your card is a financial tool, and to make the best use of it, it’s important that you understand the details provided in the terms and conditions.    

Rewards. It’s also important to consider which rewards work best for you. Some credit card benefits like travel and exclusive access may sound appealing, but it’s worth asking yourself if these are going to add value to your life on a regular basis. Another consideration is any barriers to redeeming those rewards. Many people prefer rewards you can redeem regularly and easily. PC Financial Mastercard, for example, allow users to earn and redeem rewards points on items they purchase every day, like groceries and household essentials.


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