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My advice • May 23, 2023

Choosing the right credit card for you

and how to get the most out of this uber-handy payment method.

A women using a laptop looking interested by what is on the screen.

A credit card can be your quick and easy go-to for covering anything from the smallest of day-to-day transactions, to paying for your important purchases. But beyond being a safe and practical payment option, a credit card can get you a whole lot of added benefits—if you know what to look for.

Whether you’re thinking about getting your first credit card or shopping for a new one, by understanding your options and needs, you can find the card that’s best for you. We’ve put this guide together to help connect you with the right credit card.

Understand your needs

Every credit card is unique, so before you apply, it’s important to consider how you’re going to use yours—then find the right match for your needs and budget.

No annual fee credit cards

If you’re looking for an entry-level product to help build your credit or a second card in wallet for a safety net, a no annual fee credit card might be perfect for you. A no fee card is also a popular choice for those who don’t spend a lot on their credit card. If you’re a student or new to Canada, this can be a great option. With the Laurentian Bank Visa* Reward Me1 credit card, you can enjoy the benefits of a no fee card while still earning points on all your purchases.

Cashback credit cards

Want to use your card for day-to-day purchases like gas and groceries? When you pay with a cashback credit card, you can earn money back on all of your eligible purchases. Plus, with the Laurentian Bank Visa* Cashback1 credit card, once you’ve earned, you can even apply your cash back towards your purchases or your account balance.

Low-interest credit cards

Life brings exciting milestones like purchasing a new home or expecting a baby, but there are big expenses that come with it. To cover unexpected expenses—or pay for large purchases that you won’t be able to pay down all in one go—a low-interest credit card may be a wise choice for you. It’ll help you pay for your purchases and save on interest. Benefit from a low interest rate of 12.49% on purchases with the Laurentian Bank Visa* Reduced Rate1 credit card.

Enjoy all the perks

When you want to enjoy life’s experiences, like dining at the hottest restaurants or skiing in Whistler, consider the following when choosing a premium credit card:

  • Rewards programs (exclusive offers, deals with participating merchants to earn on all your eligible purchases)
  • Insurance (travel and medical, car rental, extended warranty insurance)
  • Additional incentives (like access to a concierge service and unique experiences)

The Laurentian Bank Visa Infinite*1 card helps you earn faster with our most comprehensive rewards program and lets you enjoy flexible redemption options starting at as little as $1.2

The perfect family card

If you’re looking for a payment solution for a child or dependant,1 adding an Authorized User card to your account is a great option. They have access to the same benefits but won’t be responsible for the debt or payments. With access to their transactions and managing their credit limit, you can stay on top of their spend. Adding an Authorized User to any of the Laurentian Bank credit cards is easy and convenient.

Laurentian Bank’s fresh credit card offering

Over time, people change and evolve, and so do your needs. That’s why we’ve introduced a brand-new line of credit cards. There’s never been a better time to enjoy our enhanced rewards program, easy online account management, and one-of-a-kind offers. You’ll also have access to a digital card immediately upon approval, flexible payment options with instalments and great budgeting tools.

Explore our new Visa* credit cards.

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