The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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Rewards Canada reviews the Neo Mastercard, redeem for Amex prepaid cards with a discount & 40% off AeroMexico award flights out of Montreal + MORE May 25th
Here's your Rewards Canada Daily update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Today's update is brought to you by the HSBC High Rate Savings Account with which you can enjoy a total annual interest rate of up to 2.65% on new deposits± .... More »
What New Year’s credit deals promise—and why you should be wary Jan 17th
January is for fresh starts, but too many Canadians are held back by last year’s overspending. Lenders know about new year’s debt-hangovers, so you may be seeing more credit offers in your inbox—but be wary. Used incorrectly, that deal on a balance transfer or sign-up bonus could get you into .... More »
AIR MILES Shops Black Friday offer: 20x miles sitewide for shopping online + MORE Nov 25th
The AIR MILES Shops Black Friday offer is an amazing 20x miles sitewide. For most purchases made via the portal this means you'll earn 1 mile per dollar spent. That's a far cry from the 1 for $20 that's normally seen. This offer is available until November 29 and it can be tied into the.... More »
New Hilton Honors promo: Double points on all stays from Sep 7 to Dec 31 + MORE Aug 25th
Hilton provided us with details of the next systemwide promotion for the Hilton Honors program. This new offer launches the day after the current promo ends so there is no gap at all where you won’t be able to earn extra points on your Hilton stays. This promotion is called Power Up and .... More »
How to handle unpaid corporate credit card May 22nd
If you have a credit card from the company you work for with your name on it, you can find yourself battling creditors if the corporation doesn't pay.... More »
Why an old debt may vanish from credit report
– creditcards.com
If a legitimate debt disappeared from your credit report, don’t celebrate yet. It might not be gone long.
Canadian banks set aside more money for bad loans to oilpatch, consumers
– canadianbusiness.com
TORONTO – Canadian banks are setting aside more money for sour loans as the oil price shock continues to take its toll on borrowers in Western Canada.
Royal Bank (TSX:RY) said Thursday it has boosted its provision for credit losses to $460 million, up $178 million from a year ago, while CIBC (TSX:CM) earmarked $324 million for bad loans in the second quarter, an increase of $197 million from a year earlier.
Laura Dottori-Attanasio, CIBC’s chief risk officer, says the bulk of the increase can be attributed to companies in the oil and gas sector, although the bank also saw an uptick in bad loans in its credit card and personal lending portfolios.
“You may recall that last quarter, I mentioned that we added nine names to our oil and gas watch list,” Dottori-Attanasio said during the bank’s second-quarter earnings call, referring to energy companies that could struggle to repay their debts.
“Well, this quarter the majority of those names moved to impaired status…
Royal Bank (TSX:RY) said Thursday it has boosted its provision for credit losses to $460 million, up $178 million from a year ago, while CIBC (TSX:CM) earmarked $324 million for bad loans in the second quarter, an increase of $197 million from a year earlier.
Laura Dottori-Attanasio, CIBC’s chief risk officer, says the bulk of the increase can be attributed to companies in the oil and gas sector, although the bank also saw an uptick in bad loans in its credit card and personal lending portfolios.
“You may recall that last quarter, I mentioned that we added nine names to our oil and gas watch list,” Dottori-Attanasio said during the bank’s second-quarter earnings call, referring to energy companies that could struggle to repay their debts.
“Well, this quarter the majority of those names moved to impaired status…
May 26 Update: WestJet dollar earn rates for flying on Qantas, minimum spend increased for the Amex Gold Rewards Card, Air France Flash Sale!
– RewardsCanada.ca
News, Tips & Tricks Earlier in the week we told you about the new WestJet and Qantas frequent flyer partnership. At the time WestJet did not have the earn details for flying on Qantas out yet. They have now been published and you can earn anywhere from 3 to 22 WestJet dollars on Qantas flights. 22 WestJet dollarsmay not seem like a lot for flying Qantas first class over 4,000 miles but if you are someone who doens’t fly on Qantas frequently but do on WestJet then it probably makes sense to credit to WestJet Rewards. If you are frequent traveller on Qantas then you are better off crediting to QFF (including your WestJet flights). Simply frequent flyer program knowledge here. Here is the complete earn chart:We hate seeing changes like this but American Express has changed the minimum spend requirement on the American Express Gold Rewards Card. The card which is ranked #1 overall by Rewards Canada now requires $1,500 in spending in the first three months versus the old $500 to earn the 25,000 Membership Rewards points…
