The “Big Five” Canadian banks 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). Are there other viable options?
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How international students can build credit in Canada Jul 15th
Moving to Canada as an international student comes with a long financial to-do list, and building credit is one of the most important items on it. Your credit history from home typically doesn’t transfer, which means you may need to start from scratch when applying for a credit card, phone plan, a.... More »
How to choose the best appraisal firm Nov 13th
When it comes to real estate transactions, estate settlements, or tax planning, choosing the right appraisal firm can make all the difference. A professional appraisal provides the accurate market value of your property, helping you make informed decisions and avoid costly mistakes. Here’s a comp.... More »
Canada’s Best Visa Credit Cards 2022 Jun 2nd
When consumers shop for a new credit card, they typically look at the ability to collect points, the insurance coverage offered, fees and interest rates on unpaid balances—not at the credit card company itself. But if you already have an account with RBC, CIBC, Scotiabank or any other Visa issuers.... More »
The best GIC rates in Canada for 2025 + MORE Jan 19th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
The best GIC rates in Canada for 2025 Nov 3rd
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
What Happens to Your Points When You Cancel a Rewards Credit Card?
– ratesupermarket.ca
The moment you redeem your credit card rewards can feel exhilarating. Maybe you’ve treated yourself to new merchandise, event tickets, or a free flight. But, when it is time to upgrade your credit card or cancel it altogether, the outcome may not be so joyous.
Depending on the type of rewards card you have, you may lose out on your hard-earned points. Luckily, many providers offer points conversion options or are associated with loyalty programs. And, if you are patient, you may be able to switch credit card companies without having to cut your losses.
Credit Card Rewards Programs
Standard credit card rewards plans fall under two main categories: in-house points and third-party loyalty programs.
In-House Programs
In-house programs are those that offer rewards solely through the credit card company itself.
Here are some examples of in-house credit card rewards programs offered in Canada:
American Express Membership Rewards: Apart from cash back, Aeroplan, and Marriott rewards options, American Express features its own in-house rewards system on many of its cards, including the American Express CobaltTM Card…
