Our goal is to make sure every Canadian has the credit card that suits them best.
And our newest feature takes getting you the best credit card to a whole new level.
Thanks to Rate Your Wallet, you can see exactly how your credit cards are performing based on your preferences and your spending – no more math, no more guesswork, no more crossing your fingers and hoping for the best.
This tool will give you personalized recommendations that will take your wallet to a whole new Genius level.
As an added bonus, not only will you be able to bookmark cards to take a closer look at any time you want, but you’ll also be able to add cards to your virtual wallet with a click of your mouse.
In order to get the most out of Rate Your Wallet, we wanted to show you how to get through the quiz seamlessly and point out all the great features Rate Your Wallet offers.
So, feel free to follow along as we go through the Rate Your Wallet quiz in detail for you.
The Rate Your Wallet quiz
In order for our algorithm to give you personalized recommendations, we’ll need to get to know you a little better. So, to start the quiz off, we’re going to ask you a few questions about what matters most to you when it comes to credit cards.
After selecting your gender, you’ll be asked to make a selection, out of three options, of what is most important to you.
And, of course, if you don’t have a preference, simply click on “None of these” – although, the more we know about what you’re looking for, the better our recommendations will be.
What type of rewards is important to you?
The first choice you’ll make is which type of rewards you would like to collect.
To put it simply, you like cold hard cash.
Cash back rewards are simple to understand and easy to redeem.
And, whether you’ll be getting a yearly credit statement, or you decide when you want your payout, these rewards can be used for anything you choose.
Please note: Our definition of “cash back” does not include any cards where the rewards you earn can only be used in a specific store, such as Triangle & President’s Choice Financial Mastercards.
This is the choice you would make if you prefer high-value rewards over anything else.
Most often, the cards that fall in this category offer airline programs, such as Aeroplan, but can also include AIR MILES, bank travel programs, and even high-value store rewards, which can only be used in a set store, like GM or Scene.
Although these rewards will give you the biggest bang for your buck, they are often inflexible in terms of airlines, dates, destinations, and redemption options.
Flexible rewards are perfect for anyone who wants a mix of both worlds, and doesn’t want to be tied down to any one type of rewards.
You want to be able to redeem your rewards for a number of different things, without any major complications.
High value travel one year, and merchandise the next.
These rewards include super flexible store rewards, like PC Financial or Walmart, and programs like the MBNA Rewards program, that allows you to use your points for essentially anything – travel, cash back, merchandise, gift cards, and even charitable donations.
Keep in mind…
Many cards will appear in several categories.
For instance, cash back cards will appear in both cash and flexible rewards, as cash is a flexible reward that can be used for anything.
Certain cards will also appear in all three categories. The
What type of credit card is important to you?
The next question asks what is most important to you: low fees, low interest, or high approval.
Sometimes paying fees makes sense.
If you’re spending between $1,000 and $1,500 monthly on your card, having a card with an annual fee could really pay off for you.
But, if you’re looking to save on the annual fee or on the foreign exchange fees, this is the option to choose if you have no interest in paying fees.
If you have credit card debt, or you are someone who doesn’t pay your credit card in full every month, perhaps you’re looking for a credit card with low interest.
By selecting this option, we’ll be sure to calculate how much interest you are spending and how much you could be saving with the cards our algorithm recommends to you.
Easy approval is the option you should select if you want us to recommend you cards that have higher approval ratings.
Whether you’re looking for a card to help you establish or rebuild your credit score, this is the option you should select if you’re looking for a secured credit card or a card with a lower income and credit score requirement.
Most often these cards don’t have rewards, since the goal here is to rebuild your credit and form better habits.
Basically, if you don’t mind paying annual fees and you like getting the best rewards, click “None of these”.
What other feature is important to you?
The last question is related to all the “extra stuff” credit cards can offer.
Do you want a card that will give you lots of free extras?
If it’s important that your card gives you more than just rewards, this is the option you should go for.
When you select “Great perks”, you’ll find cards that offer:
- access to airport lounges,
- complimentary roadside assistance,
- credit card concierge,
- big sign up bonuses, or
- the ability to redeem your rewards anytime you want.
Maybe instead of perks, you want peace of mind.
Credit card insurance allows you to travel and shop knowing you have coverage.
There are 16 different types of credit card insurance, and if you decide this feature is important to you, we’ll let you know how your wallet stacks up to the best insurance coverage credit cards, and recommend the ones that come out on top.
Do you want to make sure your card is accepted everywhere you go?
Make sure you choose acceptance.
This option gives a slight bonus to Mastercard cards (since they’re the only cards accepted at Costco) and gives a penalty to American Express cards (since they’re not as widely accepted).
If none of these things matter to you, you can simply click “None of these”.
How much do your choices matter to you?
Now it’s time to let the quiz know exactly how important these items are to you.
Move the sliders up and down to rate the importance of these credit card features.
This will affect the genius score for all the cards and will tailor the scores to your preferences.
Tell us about the cards in your wallet
Next, you’ll be asked to enter the cards you already have in your wallet.
Simply start typing your card name and click on it when you see it. Do this as many times as you need to to enter all of your cards, and click “Next” when they’re all in.
If you don’t have a card, just click the “I don’t have a card” link under the search bar.
Monthly spending and credit card balances
Once you’ve entered your cards, you’ll be asked to put in your monthly spending.
It doesn’t have to be exact – a rough total for each category will do.
But the more accurate you can be, the more accurate your recommendations will be.
If you have multiple cards in your wallet, you’ll be asked the monthly spending for each.
If you selected that you don’t have any credit cards, you’ll be able to enter your estimated monthly spending breakdown.
After entering your spend, you’ll be asked if you carry a balance on your card and if you pay any interest.
If so, click yes, enter the amount of your balance, and we’ll tally up exactly how much interest you’re paying the banks.
Tell us more about you
This next section is where our algorithm will get to know your spending habits and financial situation a little more.
First, you’ll be asked about your credit score.
This will help the algorithm determine the likelihood of you being approved for a particular card.
If you know your credit score, click “Yes”, and enter the exact number.
If not, don’t worry. Click “No”, and if you have an idea of what it might be, click on one of the buttons, ranging from poor to excellent.
Feel free to click “Skip” if you would prefer not to say. Keep in mind, however, all the information provided is fully encrypted, confidential, and private.
Next, you’ll be asked for your personal income.
This will help the algorithm decide which cards you’re eligible for based on personal income requirements. This means that we won’t recommend you a card with an $80,000 personal income requirement if you’re income is $25,000.
Helpful tip: Even if your personal income isn’t quite high enough to qualify for some of the more premium cards, your household income might be.
Here are the numbers to enter for the corresponding personal income you would need:
- $100,000 household = $60,000 personal (World Mastercard/Visa Infinite)
- $150,000 household = $80,000 personal (World Elite Mastercard)
- $200,000 household = $200,000 personal (Visa Infinite Privilege)
Please note: American Express cards have no income requirements.
Again, if you prefer not to say, you can skip this question.
Related: Best Low Income Credit Cards
Create an account and log in to your dashboard
If you haven’t already, you’ll have the chance to create an account to access your personalized dashboard.
Here, you’ll be able to:
- see how your credit cards are performing,
- change and update all your preferences and settings,
- see credit card recommendations,
- view cards that you’ve applied for using our site,
- take a closer look at the cards you have bookmarked,
- write reviews for credit cards you have or had in the past, and even
- retake the quiz.
Below is an example of what your dashboard will look like:
Changing your personalized dashboard
From here, there’s so much you can do:
- use the sliders to adjust the importance of your preferences,
- click “Change,” under the sliders, to change the three preferences that are most important to you,
- click “About You” to change your age, income, and credit score.
- change the monthly spend details or the amount owing on any of your cards, and
- much more.
Check out your personalized recommendations
On the recommendations tab, our algorithm will suggest any cards that are suited for your preferences and spending habits.
We’ll even let you know why this card would be a good option for you.
On any of the recommended cards, you’ll be able to click the vertical ellipsis at the top right corner and from there you can:
- show more details,
- add to your wallet,
- bookmark, or even
- let our algorithm know that you’re not interested in that specific card (this way, you won’t be recommended this card again.)
What if I already have the best card for me in my wallet?
If our algorithm doesn’t have any recommendations for you, you’ll see this card:
Which basically means: Congratulations! You’ve reached credit card “Genius” status.
Anytime you visit creditcardGeinus.ca
We’ve got some more good news: the fun doesn’t end with the dashboard.
Now that you have an account, you’ll be able to perform different actions anywhere on our site.
You’ll be able to bookmark, or add a card to your wallet, simply by clicking the vertical ellipsis at the top right corner of any card box. This will allow you to take a closer look at cards that might have piqued your interest, and even see how it performs against your preferences.
Plus, anytime you click the apply button for a card, that card will be added to your dashboard as a “Pending Application.”
Please leave us some feedback
We built this tool to help make sure you are getting the most out of your wallet.
Our hope is that, by using it, you will be able to take your credit card game to a whole new level.
So, we would love to know what you think.
And as always, if you spot a bug, please let us know.