Credit cards are a convenient and practical way to
pay for purchases instead of using cash. Major cards
are widely accepted at stores, restaurants and services
across Canada and around the world.
Credit cards offer the following benefits:
- They allow you to buy larger items without paying
interest until the due date.
- The monthly statements help you track your spending.
- They provide the added security and convenience
of not having to carry large sums of cash with you.
- They are essential for certain services, such as
setting up contracts for a mobile phone, renting a
car or making online purchases.
Perhaps most important, getting a credit card is one
of the best ways to begin establishing
a credit history — proof to potential lenders
that you can be relied upon to pay your bills and make
repayments on time. This is important if you plan to
borrow money in the future for a larger purchase such
as a car or a home or to start a business.
Obtaining a Canadian credit card can be an important
early step in establishing a solid financial future
in Canada.
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