Top Best Visa Credit Cards For 2022 In Canada

Visa is everywhere! Yes, it is quite popular across Canada and is accepted by most vendors and sellers. It is even in the top three credit card networks and is often placed above Mastercard and American Express. Below is a list of some of the best credit cards that you can opt for.

Three Best Visa Credit Cards

1. Home Trust Secured Visa

Do you wish to improve your credit score. Well, this credit card can certainly help you. This is primarily because, you are not required have any “minimum income” to get this credit card.

Further,

• There is no annual fee associated with this credit card.
• It charges you an annual interest rate of 19.99% on your unpaid balance. However, you can lower down this interest rate to 14.90%, if you are willing to pay an annual fee of $59.
• This credit card protects you from fraud by offering a Visa Zero Liability Policy. Hence, you are not required to worry about all the fraudulent and unauthorized transactions as you will not be liable to pay for them
• It is accepted in more than 200 countries and has a wide acceptance.
• It also allows you to pay contactless.

Let us now have a look at the various eligibility requirements:

	Eligibility Requirements
1.	You must be a resident of Canada
2.	There is no minimum income threshold
3.	You must be a major to get this credit card in your name. This age of majority may vary from province to province.
4.	The credit score under category “bad-poor” is acceptable.

2. CIBC Dividend Visa Infinite Card

If earning cash backs and reward points is the primary purpose for you to get a credit card then this can certainly fulfil most of your expectations.

The CIBC Dividend Visa Infinite Card is the best in the segment when it comes to giving cash backs. This is because:

• It gives you a 4% cash back on groceries and gas
• It gives you a 2% cash back on transportation, dining, and recurring payments
• It gives you a 1% cashback on all other transactions

“Groceries” and “Gas” are two areas where Canadians spend most of their money. Hence, when you buy them using this credit card, it certainly helps you to earn an accelerated cash back. The cash back so earned can be redeemed anytime. For this, you will be required to use CIBC Online and Mobile Banking.

Further,

• The annual fee of this credit card is $120. However, in the first year you are not required to pay anything.
• Further, in the subsequent years as well, you can save your annual fee (only for primary cardholder) if you have a CIBC Smart Plus Account
• You are required to pay interest on the unpaid balance at the following rate:
  • For Purchases: 20.99%
  • On all other transactions:
    • 22.99%
    • 21.99% – only for Quebec residents

Let us now have a look at the various eligibility requirements:

	Eligibility Requirements
1.	You must be a resident of Canada
2.	Your minimum income must be: $60,000 – for individuals $100,000- for household
3.	You must be a major to get this credit card in your name.
4.	The credit score under category “excellent” is acceptable.
5.	You must not have been declared bankrupt in the past seven years

3. TD Aeroplan Visa Infinite Card

If you are a frequent traveller and are looking for a card that allows you to use the reward points towards hotel rooms and trip expenses, then your search might end with this.

A TD Aeroplan Visa Infinite Card is the best card for travellers and lets you earn Aeroplan points in the following manner:

• You will earn 1.5 Aeroplan points when on every $1 spent on gas, grocery and direct through Air Canada purchases
• You will earn 1 Aeroplan point on all the other purchases, which you have made using this credit card
• You will earn 20,000 Aeroplan points, if you spend $1,500, within the first 90 days using this card
• You will earn an additional 20,000 Aeroplan points if your total spending are $7,500 in the first twelve months.

The redemption of the earned Aeroplan points is easy and you can use them for:

• Booking seats in flights of Air Canada
• Paying your hotel room rentals, car rentals, and other trip expenses
• Groceries, gas. Merchandise and all other types of expenses

Further,

• The annual fee is $139. However, you can get a waiver of this fee if:
  • You make first purchase from your card within the first three months and
  • Add additional card holders within a defined time frame
• This card requires you to pay different interest rates, which are:
  • 19.99% – For standard purchase
  • 22.99% – For cash advance and balance transfer

Let us now have a look at the various eligibility requirements:

	Eligibility Requirements
1.	You must be a resident of Canada (except Quebec)
2.	Your minimum income must be $60,000
3.	You must be a major to get this credit card in your name.
4.	The credit score under the category “good-excellent” is acceptable.

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