MONTREAL, Jan. 4, 2024 /CNW/ - Milesopedia, Canada's most widely used credit card comparison solution, publishes its 2024 Milesopedia Awards of the best credit cards. This list guides Canadian consumers toward the most sensible choices based on their needs, enabling them to maximize the benefits of their credit cards and save money on their purchases.
In 2024, selecting and evaluating credit cards for households is more important than ever in a multi-challenged economy. "Today, we are rewarding financial institutions that have managed to stand out by offering products meeting current consumer needs. Some institutions, for example, have adjusted their product features to reward consumers for their groceries, gas or recurring bill payments; others have enhanced their travel-related benefits to offset the travel expenses which have continued to rise post-pandemic," states Jean-Maximilien Voisine, President-Founder of Milesopedia. "Earning rewards through credit cards represents a profitable avenue often overlooked due to lack of time and knowledge. Consumers miss out on valuable rewards without realizing it," he continues.
The Montreal-based FinTech draws on over 18,000 data points, including annual fees, welcome offers, and insurance. This exercise establishes 32 categories, making it easier for consumers to identify with a specific profile and goal.
Among the award-winning financial products, The National Bank's World Elite Mastercard credit card stands out again this year as the Best Travel Credit Card and the Best Credit Card For Travel Insurance. It was particularly popular with consumers in 2023, especially in these challenging economic times, offering up to 5 points per dollar of purchase on eligible grocery and restaurant expenses, travel reimbursement, and excellent insurance coverages.
The CIBC Dividend® Visa Infinite* Card stands out again in the Best Cash-Back Credit Card category, offering an attractive welcome bonus, a first-year annual fee rebate, and 4% cash back on eligible gas, EV charging, and grocery purchases.
The complete Milesopedia's 2024 Credit Card Awards winners list with details and conditions for each card is available here on the milesopedia.com website.
"Since 2020, the rewards and credit card landscape has evolved significantly: the launch of Air Canada's new Aeroplan program, BMO's acquisition of AIR MILES, the transformation of the Scene+ loyalty program following the partnership between Scotiabank, Cineplex and the Empire Group (IGA, Sobeys, etc.), and most recently, RBC's acquisition of HSBC Canada. All this should encourage consumers to reevaluate their wallets' credit and loyalty cards," declares Marie-Claude Ravary, Director of Clients Relations and Compliance at Milesopedia.
Due to new challenges faced by Canadian media (Bill C-18, Google and Meta's reaction, Law 25, etc.), Milesopedia positions itself as a new revenue stream for media and content creators through its white-label credit card and bank account comparison tools, while enabling them to offer their readership quality content to improve their personal finance.
After consolidating its position as Quebec's number-one comparator with major players such as Protégez-vous, L'actualité and, most recently, Les Coops de l'information (CN2i), Milesopedia is extending its reach across Canada through strategic collaborations such as FinTech Chexy, RedFlagDeals (VerticalScope Inc.), and is in discussion with one of the country's major English-speaking media.
The platform continues its mission to help Canadians maximize the rewards and benefits they earn with their credit cards and now supports an active community of 26,000 members on its private Facebook group to answer questions about rewards programs and financial products. Finally, the company is a member of the Canadian Consumer Rewards Coalition (CCRC) and other leading industry organizations.
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Founded in 2015, Montreal-based FinTech Milesopedia has emerged as the leading bilingual Canadian resource for loyalty programs and credit cards. Despite the challenging economic landscape in 2023, the company has continued to thrive, particularly due to its widely used credit card comparison solution. The tool attracts over a million unique visitors each month, thanks to its network of 16 sub-publishers: Protégez-Vous, François Charron, Educfinance, Dollars and cents | L'actualité, Mon Fric (Attraction Web), BB Jetlag, Retraite 101, Club Boomerang, Le Jeune Retraité, NoovoMoi (Bell Media), Guides Ulysse, Ca$hmire+, InfoBref, Chexy, RedFlagDeals, and Les Coops de l'information (CN2i). Initially launched as a blog by Jean-Maximilien Voisine, a passionate aviation and travel enthusiast, the team has now grown to 13 permanent employees and over 15 freelance writers. Milesopedia makes financial products more accessible to consumers by simplifying information on financial literacy and promotes responsible and advantageous use of credit cards available in Canada, providing them with valuable information and tools, thus enabling them to make the most of their credit cards. As a socially committed company, Milesopedia has been accredited as a platinum-level Entreprise Enfant Soleil since December 2022.
SOURCE Milesopedia
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