RateSupermarket.ca's Best of Finance Product PicksInaugural “Best of Finance” Awards Honour Top Options for Canadians

Toronto, ON – January 22, 2013 – Canadians resolving to get their finances in order this year are getting some great insider advice from RateSupermarket.ca, Canada’s independent financial rate comparison resource. The site, which compares mortgage rates, credit cards and numerous other finance products, has launched its inaugural “Best of Finance” Awards, honouring the best financial products and resources in Canada in 2012.

“There are some excellent products, rates and features out there that can make a significant difference in the financial well-being of Canadians,” said Kelvin Mangaroo, President of RateSupermarket.ca. “Showcasing products that are the top of the class provides our customers with the tools and insight they need to make informed decisions about their finances, and will hopefully encourage the market to produce better products across the board.”

Using criteria based on overall value, features, competitive rates and ease of use, RateSupermarket.ca made the top picks for credit cards, the best mortgage rates, life insurance, chequing accounts, savings accounts, GICs and online trading.

And the winners are…

Credit Cards: The Best Rewards Credit Cards in Canada in 2012

Best New Credit Card in Canada 2012
Scotiabank Gold American Express Card
Wins for: Earning 4 times the travel points on every dollar, and extra rewards on purchases at gas stations, restaurants, dining and entertainment. Also offers great discounts on airfare, hotels, cruises and more. New sign ups also receive 20,000 bonus points – a $200 value.

Best Cash Back Rewards in Canada 2012 – No Fee
Smart Cash MasterCard® Credit Card  
Wins for: The highest cash back rewards on the market with no annual fee. Shoppers can even put earned cash back points toward purchases at the Smart Cash Mall, an online shopping space featuring discounts from a wide selection of retailers.

The Best Cash Back Rewards Credit Card in 2012 – With Fee
Scotia Momentum® VISA Infinite
Wins for: Rewards on every purchase, with no introductory rate restrictions. Cardholders can also access VISA Infinite Enhancements, a unique program of premium enhancements including VISA Infinite Complimentary Concierge.

Best Credit Card Travel Rewards in Canada 2012 – No Fee
Capital One Aspire Travel Platinum MasterCard
Wins for: 1 to 1 dollar/reward mile ratio, plus 5000 bonus points upon sign-up, and an additional 25% extra reward miles every year.

Best Credit Card Travel Rewards in Canada 2012 – With Fee
RBC Royal Bank® Visa Infinite‡ Avion®    
Wins for:  15,000 welcome RBC Rewards points (a $350 value) upon signup and 1 to 1 dollar/reward mile ratio. 25% more points on travel-related purchases, points never expire, and no blackouts or seat restrictions.

Best Specialty Rewards Credit Card in Canada 2012  - No Fee
Scotiabank SCENE Visa Card
Wins for: 1 to 1 dollar/SCENE point ration on everyday purchases; 5 to 1 when used at Cineplex locations. Plus 2,000 points on signup – enough for two free movies.

Bank Accounts

Best Savings Account in Canada 2012: Ally High Interest Savings Account
Wins for: A 1.80% interest rate – higher than most – and can be set up for as little as $1. Plus, zero monthly fees, and a monthly interest payout
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Best Chequing Account in Canada 2012: ING THRiVE
Wins for: No service and account charges, and pays 0.25% interest on balances under $50,000 (up to 1.10% interest on balances exceeding $100,000). Also offers unlimited bill payments and transactions.

Best Student Account in Canada 2012: RBC Student Banking
Wins for: This no-fee account includes 25 debit transactions a month and choice of Signature RBC Rewards, RBC Visa Cash Back Visa or WestJet RBC MasterCard.

Best Children’s Account in Canada 2012: ING Children’s Savings Account
Wins for: 2% interest back on their balance, no fees and no minimum balance.

Best Tax Free Savings Account in Canada 2012: Canadian Tire
Wins for:  No minimum balance or annual fee. It’s our top pick for tax-free savings.

Best Seniors Account in Canada 2012: Scotia Plus Program for Seniors
Wins for:  A variety of discounted services including zero transfer fees, no minimum or maximum balance and unlimited Interac transactions for Canadians 59 or older.

In addition to the winners listed here, RateSupermarket.ca awarded its “Best of Finance” seal to an extensive slate of top products, including the best credit card for paying off your balance, best investment vehicles, and the best mortgage rates of the year.

For a full list of winners, visit
http://www.ratesupermarket.ca/best_of_finance_2012/

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About RateSupermarket.ca (www.ratesupermarket.ca)
Over 2.8 Million Canadians have found their best rate for personal finance products on RateSupermarket.ca. Launched in 2008, RateSupermarket.ca is Canada’s largest and most comprehensive rate comparison site, offering visitors transparent access to the best mortgage rates as well as credit cards, bank accounts, insurance quotes and GIC rates.