Bill Knight, commissioner of the Financial Consumer Agency of Canada, today released the new agency’s first report on credit cards.

The report offers a snapshot of the four major types of credit cards in Canada that allows consumers to compare cards and make informed decisions about the best credit card for them. Knight said Canadians should shop around for credit cards.

“The extraordinary spread between the Bank of Canada Rate and credit card interest rates means it is a good time for consumers to shop around for the most advantageous forms of credit available to them.”

According to Knight, the report will continue to evolve to address the needs of Canadian financial consumers for useful, objective, and user-friendly information.