How to go about securing the best rate and plan for your credit card in Canada.
Latest News
Ends soon: CIBC Dividend® Visa Infinite* Card – 10% cash back up to $300 and a first year annual fee rebate + MORE Aug 8th
The CIBC Dividend® Visa Infinite* Card’s boosted welcome bonus that provides up to $300 cash back will be ending very soon. The bonus cash back rate of 10% is awarded on up to $3,000 in spending in the first four statement periods. RWRDS Canada considers the CIBC Dividend Visa Infinite a.... More »
Fairmont Hotels Visa Offer - 15% off + $50 hotel credit for stays of 2+ nights in North America Nov 15th
Another weekend another Fairmont Hotels offer to pass along! They sure do have a lot of different offers out there but most don't seem the match the Stay Close offer (which ends on Monday!) This time we have an offer that is very similar to several others in that it is a discount for st.... More »
American Express will issue replacement Annual Travel Credits for Platinum Cardmembers who didn't use them during the pandemic + MORE Apr 8th
The Platinum Card from American Express may be one of the most expensive cards to carry in your wallet at $699 per year but there's good reason for that. You have an amazing lounge access program, you get automatic hotel elite status with numerous hotel chains, you get the Fine Hotels & Re.... More »
November 22 Update: Black Friday Cyber Monday deals page, enter our Aeroplan contest & 2,500 bonus points + $25 credit at JW Marriott The Rosseau Muskoka Resort + MORE Nov 23rd
We are one week away from Black Friday and the deals have started to roll out! To try to help you find and make sense of them we have created a Rewards Canada Black Friday Cyber Monday deals page that lists travel deals, bonus points/miles offers and more! The page is being updated frequently so.... More »
Top ways that credit card fees sneak into your trip + MORE Jul 19th
It’s summertime, and that means break time for many Canadians. If you’ve been using a credit card to book your holiday and spending while on vacation, you might be paying more than you think. While travel credit cards often offer perks or rewards, they can often come with expensive upfront annua.... More »
4 smart things to do with your tax refund
– moneysense.ca
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It’s an annual rite of spring, right up there with dusting off your golf clubs and watching the Stanley Cup playoffs: Getting your annual tax return from the CRA. Rather than blow it—though you certainly could—here are four ways you can use your refund to put some spring in your finances.
1. Use it to pay off debt
There are few investments you can make that can compare with paying off any outstanding debt you may be carrying. Debt repayment offers piece of mind and a guaranteed rate of return—make that a guaranteed outstanding rate of return if you are paying off a high-interest debt like a credit card balance.
2. Use it to invest in your future
Take your tax rebate and put it into a Registered Retirement Savings Plan (RRSP) or a tax-free savings account (TFSA)…
May 30 Update: It is a credit card kind of day! Exclusive TD Aeroplan offer, Scotia More Rewards is here, BMO World Elite AIR MILES update
– RewardsCanada.ca
News, Tips & TricksTypically we see most credit card offerings change at the start of a month but since June 1st is mid week it seems like most banks wanted to bring out their new offers or updates on cards today. From our exclusive offer on the TD Aeroplan Visa Infinite Card to the release of the Scotiabank More Rewards Visa and more, it was a busy day in the world of rewards credit cards.We have received notice that the current offer of up to 3,000 Bonus AIR MILES for the BMO AIR MILES World Elite MasterCard will end on June 9th so if you have had this card in your sights get in on it now as after the 9th the sign up bonus drops to 1,000 AIR MILES Reward Miles.One of readers reached out to us to see if we could confirm if Scotiabank Amex cards included Front of the Line access as he spoke to a customer service rep and that rep said yes their cards do. We thought it was the opposite and have confirmed with Scotiabank management that FOTL access is NOT included on their Amex cards…Canadians Remain in Denial about Personal Debt: Ipsos Reid survey
– ratesupermarket.ca
Despite debt levels continuing to rise, Canadians are looking to a brighter financial future.
Following data released by credit rating agency TransUnion, a new Ipsos Reid/BDO poll shows that the average Canadian’s non-mortgage debt level rose to $21,348 in the first quarter of 2016. That is a 2.7 per cent increase from the average debt level this time last year. It also means that Canadians owe $1.60 for every dollar we earn per year, something that can add to the many financial stresses Canadians already have. But not everyone is worried about it.
Positive outlook:
The poll found that 73 per cent of Canadians are carrying debt, and almost a quarter say they believe they will never become debt free. Almost half of those polled find that the rising cost of living is preventing them from being able to pay off what they owe.
Despite those gloomy figures, four in 10 respondents believe their children will be better off financially than they are.
What makes up the debt:
According to TransUnion, auto and installment loans are the two largest, most common debts, pushing us further into the red…
How to Reduce Your Credit Card Interest Rate
– canadianfinanceblog.com
One of the most depressing things about having credit card debt is the fact that the high interest rate can mean that most of your monthly payment (if you carry a balance) goes to paying interest, rather than reducing your principal. This can mean a long, slow slog as you try to pay off debt.However, you might not have to keep paying that interest rate. In some cases it’s possible for you to reduce your credit card interest rate… just by asking.
Steps to Reduce Your Credit Card Interest Rate
Is your credit card interest rate 18% or higher? Call the number on the back of your card, tell them you have seen lower rates and chances are that you can get them to lower it. It’s not always that simple, of course, but it’s a start.
Call and ask to speak to someone about your interest rate. In some cases, representatives are allowed to drop your interest rate by as much as 3% in order to retain you as a customer. If the first representative can’t help you, ask for someone who can help you lower your interest rate…
Rewards Canada Exclusive: Double Aeroplan Miles on select spending when you apply for and get the TD Aeroplan Visa Infinite card
– RewardsCanada.ca
Rewards Canada is pleased to have teamed up with TD Canada Trust to give our readers this exclusive offer on the TD Aeroplan Visa Infinite Card! The standard offer out there will only award up to 20,000 Aeroplan Miles when you sign up for the card however with our exclusive offer you can earn Double Miles on select purhcases with the TD Aeroplan Visa Infinite Card that can give you up to 7,500 more miles than the other offers out there.The standard offer is 15,000 Bonus Aeroplan Miles on your first purchase with your first year annual fee on the primary card being waived as well as an additional 5,000 Aeroplan Miles is awarded if you add an authorized user. We have that in our offer as well but on top of that we have this double Aeroplan miles offer:For every $1 spent on eligible gas, grocery, drugstore and aircanada.com Purchases with your Card, earn double Aeroplan Miles for the first 90 days after Account approval – that’s 3 miles instead of 1…
