FCAC revamps tools to help consumers find the best account and credit card for their needs

From: Financial Consumer Agency of Canada

News Release

November 2, 2017
Ottawa, ON 

Today, the Financial Consumer Agency of Canada (FCAC) launched its new and improved Account and Credit Card Comparison Tools. FCAC has redesigned the tools to help consumers decide which product best meets their needs. These tools will make it easier for consumers to compare different bank accounts and credit cards. FCAC has also ensured the tools are easily accessible on all devices as Canadians increasingly use tablets and smart phones.

In keeping with this year’s Financial Literacy Month theme, “Take charge of your finances – It pays to know”, the tools allow consumers to quickly review their needs, shop around in an unbiased environment and choose a banking package or credit card that best suits their needs.

Quotes

“In a competitive financial marketplace, FCAC’s revamped Account and Credit Card Comparison Tools will help consumers navigate and compare the various products available to them. Empowering consumers to make informed decisions plays a key role in consumer protection by helping ensure consumers get the products they need based on the options and features they want.”

Lucie Tedesco, Commissioner, Financial Consumer Agency of Canada

“Financial Literacy Month is underway and I want to encourage Canadians to take charge of their finances. The variety and complexity of available financial products is increasing. Each product has different options and features to choose from. FCAC’s revamped Account and Credit Card Comparison Tools will help consumers shop around, compare features and make informed decisions about the products that best suit their needs.”

Jane Rooney, Financial Literacy Leader, Financial Consumer Agency of Canada

Quick Facts

  • FCAC’s Account Comparison Tool includes 171 chequing accounts and 84 savings accounts from different banks and credit unions.

  • FCAC’s Credit Card Comparison Tool includes 145 credit cards from different banks and credit unions.

  • Consumers can use the tools to compare the cost and features of different accounts and credit cards.

  • FCAC continually ensures Canada’s financial institutions keep their information up to date and accurate for consumers.

  • FCAC’s comparison tools are unbiased and are not intended to promote or endorse a particular product.

Associated Links

Contacts

Media Relations
Financial Consumer Agency of Canada
613-941-4168
media@fcac-acfc.gc.ca 

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