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08/02/2010 -
Canadian credit card processing may see a small boost as consumers get some help finding the right credit cards for them, thanks to an updated credit card selector tool released by the Financial Consumer Agency of Canada.The interactive FCAC tool, available through the organisation's website, helps consumers compare the costs, rewards and advantage of more than 250 credit cards from 28 different issuers. The tool also includes student card and secured card comparisons.
Consumers can see and compare all the information about each credit card, sorted into categories according to their conditions, options, rewards and other features.
The credit card selector tool aims to help consumers make educated decisions about the cards they choose.
"Avoid making a decision based solely on the rewards or advantages you are looking for," FCAC commissioner Ursula Menke advised consumers. "Take the time to carefully consider interest rates and conditions."
The government has also recently moved to protect consumers as well as merchants from unfair payment processing practices by releasing a code of conduct for debit and credit card processing, Finance Minister Jim Flaherty announced in mid-November.
