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?
Latest News
September 3 Update: The Platinum Card receives a $100 NEXUS credit benefit & Air Transat offering 10,000 seats under $299 Sep 3rd
Here's your Rewards Canada Daily update! Your daily dose (or near daily dose) of loyalty program, credit card and travel news, bonuses, deals and more. In an unannounced move American Express has also now added a NEXUS benefit to The Platinum Card like they will be doing for the re.... More »
Moi points review + MORE Oct 22nd
If you shop at Metro supermarkets, you’ve likely noticed that they’re no longer partnered with Air Miles. While this will likely disappoint some rewards enthusiasts, the grocery chain isn’t leaving you hanging. Starting on Oct. 24, the Moi rewards program, previously known as the metro&moi.... More »
TD® Aeroplan® Visa Infinite* Card: 25,000 Bonus Aeroplan Points, bonus buddy pass and no annual fee in the 1st year Jan 24th
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?
TD® Aeroplan® Visa Infinite* Card:.... More »
Alberta power utilities see credit ratings cut amid climate-change risks + MORE Apr 5th
DBRS downgraded ratings on debt of TransAlta and Capital Power
.... More »
This Week in RWRDS: May 11 – 17, 2024 + MORE May 18th
This week we look at new bonus offers from Air Canada, Best Western & Coast Hotels, provide details of the new Wealthsimple Visa Infinite Card and more in our weekly credit card and loyalty rewards newscast! Watch This Week in RWRDS here: Listen to This Week in RWRDS here: Topics of discussio.... More »
Some advice for borrowers and investors: Take a deep breath
– canadianbusiness.com
WASHINGTON _ If you’re about to buy a home, shop for a car or borrow for college, the pros have some advice:
Go ahead.
The Federal Reserve’s decision Wednesday to slightly raise its key interest rate, advisers say, should have little effect on mortgages or auto and student loans. The Fed doesn’t directly affect those rates, at least not in the short run.
Nor should the economy’s health be much affected by the Fed’s move.
That said, rates on some other loans _ notably credit cards, home equity loans and adjustable-rate mortgages _ will likely rise soon, though only modestly. Those rates are based on benchmarks like banks’ prime rate, which moves in tandem with the Fed’s key rate.
Mortgage rates have been surging, for reasons that have little to do with the Fed. Rather, Donald Trump’s election as president _ with his pledge to slash taxes, loosen regulations and increase infrastructure spending _ has raised the prospect of faster economic growth and inflation…
Go ahead.
The Federal Reserve’s decision Wednesday to slightly raise its key interest rate, advisers say, should have little effect on mortgages or auto and student loans. The Fed doesn’t directly affect those rates, at least not in the short run.
Nor should the economy’s health be much affected by the Fed’s move.
That said, rates on some other loans _ notably credit cards, home equity loans and adjustable-rate mortgages _ will likely rise soon, though only modestly. Those rates are based on benchmarks like banks’ prime rate, which moves in tandem with the Fed’s key rate.
Mortgage rates have been surging, for reasons that have little to do with the Fed. Rather, Donald Trump’s election as president _ with his pledge to slash taxes, loosen regulations and increase infrastructure spending _ has raised the prospect of faster economic growth and inflation…
Air Canada and Virgin Australia to Introduce Codeshare Services and Reciprocal Frequent Flyer Benefits in Strategic Cooperation
– RewardsCanada.ca
Wow! Did not see this one coming! Nice code share agreement for flights down under as you’ll be able to earn Aeroplan miles on Virgin Australia flights (and vice versa for Velocity members) sometime in 2017 once the agreement is approved by the necessary authorities. Redemption will come at a later date but that will be another great option to redeem Aeroplan miles on Virgin Australia between the U.S. and Australia, especially in Business Class! (Source Air Canada)Part of me thinks this could be a small reaction to WestJet’s partnership with Qantas! Oh did I say that out loud?MONTREAL, Dec. 14, 2016 /CNW Telbec/ - Air Canada today announced it has signed a Memorandum of Understanding for a strategic cooperation agreement with Virgin Australia, making it easier for Canadians to travel throughout Australia and New Zealand and providing Australians with more options to travel to Canada.The first stage of the codeshare agreement is scheduled to be implemented in early 2017 when Air Canada customers will be able to book travel on a single ticket to an additional 10 cities throughout Australia and New Zealand on Virgin Australia-operated flights connecting with Air Canada’s daily year-round service to Sydney and Brisbane…How credit scores attempt to predict the future
– creditcards.com
Great credit today can tumble tomorrow; scoring formulas look for, rank risks
Canadian debt to income ratio climbs to 166.9%
– moneysense.ca
OTTAWA —The Canadian household debt compared with income climbed to a record high in the third quarter as borrowing grew faster than incomes.
Statistics Canada said Wednesday the ratio of household credit market debt to adjusted disposable income crept up to 166.9 per cent in the third quarter, up from 166.4 per cent in the second quarter.
That means, on average, Canadians owed $1.67 in credit market debt—mortgages, other loans and consumer credit —for every dollar of disposable income.
Benjamin Reitzes, a senior economist at BMO Capital Markets, said the half a percentage point increase in the debt ratio was well below seasonal norms and the smallest third-quarter increase since 2000.
Statistics Canada said Wednesday the ratio of household credit market debt to adjusted disposable income crept up to 166.9 per cent in the third quarter, up from 166.4 per cent in the second quarter.
That means, on average, Canadians owed $1.67 in credit market debt—mortgages, other loans and consumer credit —for every dollar of disposable income.
Benjamin Reitzes, a senior economist at BMO Capital Markets, said the half a percentage point increase in the debt ratio was well below seasonal norms and the smallest third-quarter increase since 2000.
Invest or pay off debt? »
“Even with the more modest increase, the upward trend in household debt…continues unabated,” Reitzes wrote in a report.
“However, we might start to see the ratio flatten out a bit in 2017 as the Vancouver housing market has cooled notably due to the foreign buyers’ tax, and the new mortgage rule should dampen activity modestly in 2017…
