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If you have already weighed the pros and cons of having a credit card and you have decided in favor of having one rather than paying in cash, itís time to search for a good credit card offer. This short guide will help you find a credit card that matches your financial needs, while maintaining a good balance between annual fees, interest rate, grace period, and reward programs.

The Canadian Tire Financial Service offers to its clients their Canadian Tire MasterCard which allows its holder to get lucrative cash-backs on every credit card purchase that he or she makes or get per liter discounts at Canadian Tire gas stations across the country. This is what every credit card ad starts with Ė the discounts, the reward programs, etc. However, before contacting Canadian Tire to apply for their MasterCard, bear in mind the following facts:

- Although the credit card has an annual fee as low as zero percent, the interest rate on your balance is 25.99 percent, set against an average of 19.5 percent for most of the credit cards available in Canada.
- The credit cardís grace period is twenty-one days and the minimum monthly payment is three percent of the used credit or $10. Make sure that you are not lured by insignificant minimum monthly payments on credit cards, as they pave the way to horrible debts.
- To apply for Canadian Tire MasterCard you have to declare a minimum annual income of $12,000 and a fair credit score. The minimum credit limit of your card is $300.

Capital One offers various low interest credit cards such as the SmartLine Platinum MasterCard with a 5.99 percent annual interest rate for a period of three years. The Miles Platinum MasterCard comes with a higher annual interest of 17.55 percent and no annual fee. Customers earn bonus miles on all of their purchases with the card Ė each spent dollar brings one reward mile. The Guaranteed Secured MasterCard is for people who seek to establish or rebuild credit. The card comes with an annual interest of 19.8 percent and an annual fee of $59.

The Gold MasterCard Credit Card of MBNA Canada Bank has a grace period of 21 days and a low interest rate of 9.99 percent. There is no annual fee and the bank offers emergency replacement in case that the card is stolen or lost. The Platinum Plus@ MastCard Credit Card has a ten month introductory period with an interest rate of just 1.99 percent. After the initial low interest period, the rate increases to 17.99 for purchases and 19.99 for balance transfers.

The Visa Platinum Avion credit card of the Royal Bank of Canada is for people who spend more time in the air than on earth. In return for the high annual fee of $120 and the relatively short grace period of just seventeen days (the interest rate on your balance is 19.5 percent) the credit card holder enjoys a broad range of insurance benefits such as travel accident insurance, car rental insurance, lost baggage and flight delay coverage, purchase protection / extended warranty, etc, plus the ability to redeem his or her travel reward points on any airliner in the world. To apply for this card, you should be under sixty-five years old and have an annual income of over $35,000. The minimum credit card limit is five thousand dollars.

Finally, if you are under 75 years old, have a fair credit score and a minimum annual income of $15,000 or higher, you can apply for Master card standard issued by Canadaís oldest company, HBC. The card does not have an annual fee, neither does it offer any insurance benefits. Instead, its holder earns fifty reward points for every dollar spent in credit card purchase. HBC MasterCardís interest rate is 20.5 percent, and it has a grace period of twenty-five days. The minimum monthly payment is $5 or 3.3 percent of the used credit and the minimum credit limit is $500.