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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February 21 Update: Air Canada introducing Economy Basic fares, Cobalt multipliers updated and a new look for WestJet coming next week? + MORE Feb 21st
Air Canada is introducing Economy Basic fares for their flights within Canada. We've seen this trend in the U.S. with major U.S. airlines starting basic economy fares to compete with Ultra Low Cost Carriers and this is pretty much evident here with this latest move from AC. These are bare bones .... More »
May 29 Update: More American Express Business Edge Confirmed Multiplier Locations, the recipe for Cathay Pacific's Cathay Delight drink, Disney World set to reopen in July + MORE May 30th
Big thanks to American Express who saw our American Express Business Edge Confirmed Multiplier Locations feature from last week and provided us with more confirmed 3x points merchants. The updates are primarily in the office and electronics category and includes retailers like Apple, Best Buy, IBM.... More »
American Express Cobalt Card: 22 new confirmed multiplier locations Feb 9th
Here’s our next update to our American Express Cobalt Card Confirmed Multiplier Locations list with 22 new locations being added today from across Canada A big thank you to the RWRDS Canada community for providing details on thousands of locations where you can use the American Express Cobalt Card.... More »
Srivindhya Kolluru: Crushing mortgage payments have Canadian homeowners looking for options. Here are a few … Jul 9th
Experts say when considering refinancing to be mindful of your credit profile and not to gamble on interest rates changes that may not happen..... More »
Earn Triple Aeroplan Miles for Accor Hotels stays around the globe + MORE Jan 19th
As we mentioned only a few minutes ago, Aeroplan is one of the easiest program to earn lots of miles with for hotel stays. Earlier we brought you the Aeroplan IHG offer, the Aeroplan Best Western offer and now here is the Accor Hotel offer. Not as many of you may be familiar with Accor as you are .... More »
March 9 Update: Amex Centurion Lounges changing access rules, Marriott Resort sale and more
– RewardsCanada.ca
News, Tips & TricksThere are reports and confirmation that access will become more limited to American Express Centurion lounges. Currently the access policy for The Platinum Card from American Express cardholders allows 2 guests or your entire immediate family. The latter part is being removed so that cardholders can only bring two guests whether or not they are family. Any additional family members or guests will cost US$50. This change will take effect on March 30th. We carry two Platinum Cards (Primary+Supplementary) in our family so the four of us will still be able to access without paying additional fees. (Source View from the Wing) Posts since our last update: Current Bonus Mile & Point Offers for hotel stays via 3rd Party Booking sites – Kaligo, PointsHound, Rocketmiles Ever since Pointshound launched qute a few years ago the market for earning miles and points in your favorite programs…Travel Deals Marriott is offering up to 20% off for stay at their premier resorts across the U…Insufficient funds: Fighting the scourge of fraud through credit and debit cards
– canadianbusiness.com
Cybersecurity expert Tom Keenan’s rationale for recommending consumers use credit cards over debit cards has nothing to do with any technological advantage.
It’s now standard in Canada for both type of cards to use chip and PIN to authenticate transactions, a widely-adopted global security practice, says the University of Calgary professor and author of “Technocreep.”
“It’s saved hundreds of millions of dollars in bank fraud in Europe,” Keenan says. “Europeans had this technology first.”
Rather, his preference largely has to do with the fact that any fraudulent activity on credit cards doesn’t automatically put bank accounts in the red, whereas with debit the damage has already been done until the matter is resolved.
“You’re starting from the position of disputing a charge as opposed to going to your bank and saying, ‘Wha-wha-wha? My account is empty,”’ he says. “So which position would you rather be in?”
Consumers using credit cards, however, do have to be wary of running up a high-interest balance, whereas with debit the money comes right out of your account…
It’s now standard in Canada for both type of cards to use chip and PIN to authenticate transactions, a widely-adopted global security practice, says the University of Calgary professor and author of “Technocreep.”
“It’s saved hundreds of millions of dollars in bank fraud in Europe,” Keenan says. “Europeans had this technology first.”
Rather, his preference largely has to do with the fact that any fraudulent activity on credit cards doesn’t automatically put bank accounts in the red, whereas with debit the damage has already been done until the matter is resolved.
“You’re starting from the position of disputing a charge as opposed to going to your bank and saying, ‘Wha-wha-wha? My account is empty,”’ he says. “So which position would you rather be in?”
Consumers using credit cards, however, do have to be wary of running up a high-interest balance, whereas with debit the money comes right out of your account…
