We are exactly 1 month away from Valentine’s Day. One of the biggest expenses on that day is the restaurant bill. With one month away, you should have enough time to sign up for a credit card to help you optimize your rewards on that day. This list is due for an update anyway.
I have written posts ranking each financial institution, but I thought it would be fun to write a post listing the top credit card of each financial institution. I have listed the credit cards based on the most recent financial institution rankings….
There has been a fair amount of discussion on our blog (Last Batch of Capital One IHG Reward Points, Both Capital One IHG Credit Cards Discontinued) about Capital One’s difficulty in crediting the final amount of IHG Points owed to former cardholders.
A few changes to the credit card industry, as well as a new addition warrants an update to this list. Below is the explanation of each grouping:
You may have already been reading my top credit card company rankings that I post every few months. The next one is coming out tomorrow. However, I did want to isolate 5 specific companies that I strongly believe that they have the potential to take their business model to the next level. I say this, because they have an opportunity to take over a larger market share because of what they have already established.
In the summer of 2015, the Capital One co-branded IHG Rewards credit cards discontinued. However, existing credit cardholders were grandfathered. But a year later, grandfathered cardholders received a letter stating that their credit cards will cease on November 7, 2016, which has come and gone.
A reader asked me last time, what the purpose was of this ranking. Basically, you do what you want with the list, take it for what it is. As a consumer, this list can give you an idea on where to shift your business. For example, if you want to see some of the smaller companies survive and thrive, you will know where to move your business.
Newcomers to Canada and students are in a very similar situation where they have minimal to no credit history. So they have to start somewhere. There are several ways to get started. This is how I got started. I walked into a bank, locked in a some money into a guaranteed investment certificate (GIC) and was issued a secure credit card. At the time, I was given the CIBC Shoppers Optimum Visa (has since been discontinued). I used this opportunity to start building my credit history.
It has been a few months since I last updated this list. The reason is because there was no significant shift in the industry until now.
I decided to change up my classifications a little bit. I’ve split up the credit card companies into 4 groupings:
As we explained in our page called “Understanding Credit Cards, credit cards that offered a fixed reward is when you know exactly how much you are going to earn and you know exactly what you are getting in return when you redeem your points.