Best Options for Auto and Gas Credit Cards in Canada

In Canada, credit cards come with a variety of rewards programs.  One that has become very popular is associated with auto and gas credit cards.  With these cards, when money is spent on everyday items, points would be applied.  As the points accumulate, they eventually reach a level high enough that you could redeem them for all types of auto and gas purchases.  For instance, with the Canada auto and gas cards, you could buy gasoline, pay for car maintenance, or even purchase a new or used car.

Any number of auto and gas cards in Canada can be applied for online and in many cases, you would receive an answer of approval or denial within minutes.  Some of the better choices for cards such as this are listed below to help you get started.

•    Gas Advantage MasterCard – For every liter of gas purchased at Canadian Tire, you would save $0.10.  Because one of the main features of this Canada credit card is for balance transfers, the interest rate for transfers would be at 19.99%.  However, if you were to use the card for everyday purchases, the rate would increase significantly to 25.99%.

•    CIBC Platinum Visa – Backed by Visa, this is one of the popular auto and gas cards in Canada.  This platinum card is highly respected and recognized, one that could be used anywhere in the world where Visa is accepted.  This card has no annual fee, the regular Annual Percentage Rate is 19.80%, and it is designed specifically for people with good credit.

•    BMO Cash Back MasterCard – Another great MasterCard, this one offered by BMO comes with a cash back rewards program.  You would not be charged any annual fee and the regular interest rate is offered at 19.80%.  Of course, as you earn points with purchases, they would accumulate to the point where you could redeem them for cash.

•    CIBC Select Visa Card – When it comes to auto and gas cards in Canada, this particular one is considered among the best.  For one thing, it is backed by Visa but the Annual Percentage Rate is only 11.5%.  While there is an annual fee, it is just $29.  However, to be approved for this Canada credit card, you would need good credit.

•    Capital One Cash Back Guaranteed MasterCard – If you have less than perfect credit, this particular Canada credit card is a great choice for auto, gas, and grocery purchases.  Of course, the cash back rewards system is a huge bonus.  The Annual Percentage Rate is at 19.80% for regular purchases, as well as balance transfers.  The card does have an annual fee, which ranges from $59 to $79 depending on credit score.

•    CAA Quebec MasterCard – The last auto and gas card in Canada that we wanted to mention is offered by CAA.  Ranked as one of the best, the benefits are incredible.  For one thing, you would earn $0.02 per liter of gas in CAA-Quebec dollars whenever you show your membership card at the gas pump for participating Couche-Tard outlets.  However, when you pay for the gas using this Canada credit card, you would be given an extra 2% rebate to use on qualifying purchases such as gas, auto expenses, groceries, and more.  The interest rate for regular purchases is at 14.99% and for balance transfers, 16.99%.  Keep in mind that a 1% fee is charged whenever this card is used for balance transfers.