Weekly rate report: Average card APR breaks new record, climbing to 17.08 percent + MORE Oct 25th

There are more credit card options in Canada than you can shake a stick at! Stay on top of the best rates and plans right here.
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This Week in RWRDS: November 18 – 24, 2023 + MORE Nov 24th

This week we talk about the much anticipated Shoppers Drug Mart PC Optimum Big Bonus Redemption Event, touch upon the Alaska Airlines Mileage Plan changes and much 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.... More »
credit card

Simplii Financial Cash Back Visa offering 10% bonus cash back at restaurants and bars for first four months Jun 6th

Another 10% cash back offer to pass along your way although this one isn't on all spending like the majority of the big bank offers that are available right now. This offer is for the Simplii Financial Cash Back Visa card and it provides that 10% cash back welcome bonus on spend at restaurants and .... More »
credit card

RBC Rewards to become Avion Rewards + MORE Jul 23rd

 RBC has just announced they will rebranding their RBC Rewards program. As of August 25 (or later) the program will be known as Avion Rewards. From a marketing standpoint this makes sense as there has always been some confusion around their Avion products and RBC Rewards. If I recall correctly .... More »

Match your Air Canada Aeroplan Elite Status to the new Atmos Rewards from Alaska Airlines + MORE Aug 23rd

A reminder that as part of their Mileage Plan program, Alaska Airlines has had a long running elite status match and fast track offer which continues to be offered as part of their new Atmos Rewards program. The offer includes matches from Air Canada Aeroplan, so if you are an Air Canada elite membe.... More »
 credit cards

Earn 3x RBC Rewards Points at McDonald's with eligible RBC Visa credit cards + MORE Oct 14th

 There is a new RBC Offers offer that came out last week that I caught on the RBC Rewards website as it is only for RBC Visa cards (not Mastercard so it doesn't show in my offers since I don't have a RBC Visa card) This offer provides 3x RBC Rewards points on all McDonald's purchases made with .... More »
Best of Finance Winners: The Best Credit Cards and Banking Products of 2018
RateSupermarket.ca aims to help its consumers understand which financial products match their personal portfolio. That’s why we recognize the best of the best every year at our Best of Finance awards, helping you save money and put even more in your wallet.
You work hard for your money, so when it comes to banking, you want to make the most informed decision before applying for a new product. Of course, reasons for choosing a specific credit card or banking product will vary depending on your unique lifestyle and budget. And doing your research before signing on the dotted line is crucial. But with so many options available, it may be hard to choose the one that’s right for you.
That’s why we at RateSupermarket.ca annually review the market and recognize some of the top performing credit cards and banking products at our Best of Finance awards – ultimately making your decision easier when it comes time to change investments or apply for a new credit card.
In choosing the winners of the 2018 Best of Finance Awards, we converted miles, points and cash back into dollar figures…

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Dan Bavaro says credit cards were the special sauce he needed when opening his first pizza restaurant during the recession.

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October 24, 2018: The average credit card interest rate for new card offers climbed to another all-time high on Wednesday, hitting 17.08 percent.

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October 24 Update: CIBC Aventura discounted points offer for WestJet flights, Triangle adds Husky as a partner, 150 Bonus AIR MILES at RexallCIBC Aventura cardholders have another limited flight discount available to them. You can fly on select WestJet routes for 9,000 to 25,000 Aventura points. Amount of points and the discount depends on the route. Book by November 30 to take advantage of this offer Find out more here. Here is an example of some of the redemption rates from Calgary:— Back in June we let you know that the boutique hotel loyalty program, Stash Rewards came back to Canada with the addition of four hotels in B.C. and a fiftth to come soon. That 5th hotel, the Opus Hotel Vancouver is now officially part of Stash Rewards. Find out more here.Earlier this month, Canadian Tire’s coalition loyalty program, Triangle added another partner. Husky is now part of the program but it does look like it only participates if you use a Triangle Credit card:Husky is a Partner location of the Triangle Rewards™ program. Members are able to collect 5¢ per litre in CT Money® on qualifying fuel purchases with a Triangle Mastercard…

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Bank of Canada Raises Overnight Rate to 1.75%; Cites New Trade Policy and Growing Economy
Bank of Canada Governor Stephen Poloz at a press conference following an interest rate announcement in April. 
After months of speculation, indeed, the Bank of Canada decided to raise its benchmark interest rate by 25 basis points this morning. This quarter-point hike brings the target for the overnight rate to 1.75 per cent.
This is the third time the central bank has raised rates this year, and the fifth time since July 2017. This rate hike most likely means commercial banks will soon hike their prime rates, making borrowing costs more expensive for anyone with a floating rate loan, like a variable-rate mortgage or a line of credit.
New trade policy boosts confidence in economy, but Bank still has concerns
In a statement released shortly after the announcement, the Bank lists several reasons for raising rates this time, including the finalization of the new trade agreement to replace NAFTA.  The Bank states, “The global economic outlook remains solid. The US economy is especially robust and is expected to moderate over the projection horizon… The new US-Mexico-Canada Agreement (USMCA) will reduce trade policy uncertainty in North America, which has been an important curb on business confidence and investment…

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