|By Marketwired .||
|August 13, 2013 08:10 AM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 08/13/13 -- The results of the 2013 GreedyRates.ca (http://www.greedyrates.ca) Credit Card Survey are in, and they reveal some surprising facts about Canadians and their credit card preferences.
Over 3,000 Canadians completed the online survey, conducted on August 1st, 2013. A majority of 53% of respondents reported that a low interest rate was the most important credit card feature to them, with rewards coming in significantly lower at 19.8%. Canadians were almost split between those who try to avoid using their credit card at all costs (33%), and those who try to use it for every possible expense (27%), with more women looking to avoid credit cards than men.
When segmented, the numbers revealed that those earning less than $50K have a preference for low rates and also try to avoid credit card usage at all costs. On the flip side, for those earning more than $50K, they have a preference for rewards and try to use their credit card whenever possible.
A more detailed analysis of the report can be found at http://www.greedyrates.ca/article/2013-canadian-credit-card-survey-results.html
"Going into this, we suspected that rewards would be the most important credit card feature for Canadians. Our findings indicate that as Canadians earn less, interest rates become the overwhelmingly most important card feature, especially for those earning less than $50K per year" states Marc Felgar, Founder of GreedyRates.ca. "However, low interest rates continue to remain the second most important card feature even as you climb the income ladder, indicating that Canada's $85 billion in credit card debt is likely weighing on the minds of cardholders."
GreedyRates.ca (http://www.greedyrates.ca) is Canada's newest and most innovative source for unbiased credit card information. GreedyRates.ca, enables consumers to search, compare and apply for the best Canadian credit cards by converting every point, rewards, and miles program to their cash equivalent so they can see exactly how much they will earn from each Canadian Credit Card.