Credit card FAQ

Credit cards aren’t always as simple as they seem. That’s why consumers like you have a lot of questions. Fortunately, we have the answers right here.

Can I get a credit card if I have a poor credit score?

Yes. Many credit card providers will work with Canadians who have low credit scores. While interest rates can be quite high (sometimes over 20 percent), regular and timely payments on these cards can help repair your credit.

What’s a grace period?

The amount of time that the charges on your card are interest-free. In practical terms, a grace period is usually the time between the purchase date and the payment due date, but it can vary by provider.

If you fail to pay your balance by the end of the grace period, you’ll usually be charged interest starting from the day the purchases were made rather than just from the due date forward. All the more reason to quickly pay off your credit cards!

How do I find low interest rate credit cards?

You’re at the right place! We have a vast array of up-to-date offers from leading credit card providers across Canada. At, it’s easy to compare these cards against one another and find out which low interest rate credit card is right for you.

How do I apply for a credit card online?

After you choose your credit card, you’ll be directed to that card’s online application. All you have to do is fill out your personal information and submit the form. The credit card provider will usually mail a response within 7 to 10 business days.

What should I do if my card is stolen and/or being used fraudulently?

Contact your provider immediately. Card companies have dedicated specialists on-call 24 hours a day, 7 days a week, and they should be able to help you deactivate your card and contact the relevant authorities.

What if I dispute a charge on my new card?

If you think an error was made or a malfeasance perpetrated, call your card company and a dedicated specialist will help you. If your card company detects a legitimate billing error or other problem, it will reverse the charges.

Will cancelling my credit card damage my credit score?

There isn’t actually a straightforward answer to this question. According to conventional wisdom, shutting down a credit card will damage your credit score.

But in reality, there are too many variables in play, so no one will have the same outcome. That’s because a) you have more than one credit score, b) it depends on the length of time you’ve had credit, and c) whether you have a healthy credit score to start.

The short answer is, if you truly don’t want to use the card any longer and you’re in good standing with the credit bureau, cancelling a card shouldn’t have a lasting impact on your credit score.

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