All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
RWRDS Daily Update – November 3 + MORE Nov 3rd
Here’s your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Earn Mileage Plan miles on your Lyft rides Alaska Airlines Mileage Plan has announced a new partnership with Lyft. You can now earn Mileage Plan miles on your Lyft .... More »
What Is Identity Theft and How to Protect Yourself From It? Jul 1st
Incidents of identity theft have been steadily increasing over the past few years. It is more important than ever to protect yourself from fraud. There are many ways in which you can prevent having your identity stolen. And specific steps you will want to take in case you are ever the victim of iden.... More »
How much credit card debt does the average Canadian have? Dec 29th
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »
PC Optimum Points: How to maximize your rewards in 2023 Mar 14th
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PC Optimum Points: How to earn, redeem and maximize your rewards in 2023
If you frequently shop at Loblaw-affiliated stores, the right PC Financial Mastercard or a PC Money Account can help you earn serious PC Optimum points.
Compare options.... More »
New offers on the Marriott Bonvoy American Express Cards: 65,000 bonus points + $100 statement credit + MORE Mar 10th
Today marks the return of an increased welcome bonus offer on the Marriott Bonvoy™ American Express® Card and a change to the offer on the Marriott Bonvoy™ Business American Express® Card. It has been a couple of months since we've seen a limited time offer for the consumer card so.... More »
Deferred payments on your mortgage or credit card? How to handle the strain when payments restart this fall
– thestar.com
Hundreds of thousands of Canadians have deferred debt payments since COVID-19 took hold. There are some simple things you can do now to make sure you’re ready when those payments resume.
Back in May BMO announced changes to their no fee BMO CashBack Mastercard and now they have announced similar changes to their no fee BMO AIR MILES Mastercard. There is quite a bit of advance notice for these changes as they won’t take place until November 2020. These changes do only affect the no fee version of BMO’s AIR MILES Mastercard as the BMO AIR MILES World Elite Mastercard will remain unchanged.You can learn about the changes here.The only changes happening to the card are on the everyday earn rates and they actually get better for shopping at AIR MILES partners and slightly worse everywhere else. These are the current earn rates for the card that will be in place until November:- Get 2x the Miles for every $20 spent at participating AIR MILES Partners- Get 1 Mile for every $20 spent everywhere elseThe new earn rates that will kick in in November and be reflected on your December statement are as follows:- Get 3x the Miles for every $25 spent at participating AIR MILES Partners- Get 1 Mile for every $25 spent everywhere elseAs you can see the new earn rates are 3x miles for every $25 at participating AIR MILES partners and this is something to note…Is It Time to Say Goodbye to Your Starter Credit Card?
– ratesupermarket.ca
Nearly nine out of 10 Canadians have a credit card, according to Payments Canada. Not only that, but Canadians are also heavy credit card users, coming in second to South Korea in credit card volume per capita.
The study found that the extraordinary credit card use is fuelled by key factors such as credit card rewards and the expansion of e-commerce in the country.
But where does it all start? According to a global report by TransUnion, 63% of Gen Z consumers, over 18 in Canada, are credit-active. Of that population, nearly all have a credit card.
Yet, the study also suggests new-to-credit consumers often have lower credit limits, which can lead to higher utilization rates and, in turn, negatively impact consumers’ credit scores.
However, the report found that a significant number of Gen Z consumers are in the prime and above credit tiers, generally associated with an acceptable risk level for new credit products.
Further findings indicate that in established credit markets, such as Canada, Gen Z consumers “are clearly interested in — and receiving — cards…
