January 27, 2009 – Today, RateSupermarket.ca, Canada’s mortgage rate comparison website, launched their new Canadian credit card comparison engine. Similar to the very popular mortgage rate service, they have designed a simple, easy to use tool that allows Canadians to compare credit cards from all the major lenders and enables them to apply securely online with the card issuer.
The credit card companies included in the comparison are as follows:
- American Express
- BMO Bank of Montreal
- Caisses Desjardins
- Capital One
- Laurentian Bank of Canada
- National Bank
- Royal Bank of Canada
- TD Canada Trust
The product launch comes at a time when credit cards are becoming a hot topic. The high interest rates being charged to customers during the economic downturn has even been raised in Parliament. This issue is also increasing in profile internationally, as the US recently passed a law in December 2008 banning credit card companies from raising interest rates on their customer’s outstanding balances, but still allowing them to change charges on new cards, future balances and cash advances.
RateSupermarket.ca founder, Kelvin Mangaroo, comments, “Credit cards are a valuable source of financing for many Canadians and make payment for goods and services much more convenient. As there are so many credit cards in the market at the moment, with various rebates, offers and options, it can be difficult to find the best one for you.”
“RateSupermarket.ca has created a simple to use comparison tool that we hope will make comparing credit cards that much easier. We’re building on the success of our mortgage rate comparison service and aim to help people save time on credit card searches”.