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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The best GIC rates in Canada for 2026 + MORE Mar 2nd
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The best GIC rates in Canada for 2024 Jun 14th
Investing
The best GIC rates in Canada
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The best GIC rates in Canada for 2025 Nov 3rd
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The best high-interest savings accounts in Canada for 2025 + MORE Feb 10th
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How to use your credit card responsibly + MORE May 30th
Credit cards are a part of everyday life. They’re a convenient and safe way to pay for your purchases, and they often come with perks and benefits. Plus, when you use a credit card responsibly, you can build up your credit score, which can help you access loans, mortgages or other types of credit.... More »
Credit Card Rewards Redemptions Are Surging During COVID-19
– ratesupermarket.ca
The number of Canadians redeeming credit card points for everyday purchases is surging during the pandemic, according to a study by CIBC. Typically, Canadians would use their credit card points to travel this time of year. However, COVID-19 continues to restrict border crossings and flights, which is causing an unusual trend in credit card redemptions.
CIBC is one of the five largest banks in Canada and is a global institution that has over 10 million personal, business, institutional and public sector clients. The bank’s recent study reviews the redemption of CIBC Aventura rewards points between March and June 2020. The study found an immense increase in the redemption of points for merchandise and gift cards.
“While travel redemption is down significantly, clients are finding value in the flexibility of using their Aventura points where it matters most to them in this environment,” Jennifer Davidson, the Vice President of Cards Products at CIBC, said in a press release.
Additionally, CIBC suggests that credit card rewards redemptions for electronics and house and home improvement categories are up by 72%…
Credit Card Rewards Redemptions Are Surging During COVID-19
– ratesupermarket.ca
The number of Canadians redeeming credit card points for everyday purchases is surging during the pandemic, according to a study by CIBC. Typically, Canadians would use their credit card points to travel this time of year. However, COVID-19 continues to restrict border crossings and flights, which is causing an unusual trend in credit card redemptions.
CIBC is one of the five largest banks in Canada and is a global institution that has over 10 million personal, business, institutional and public sector clients. The bank’s recent study reviews the redemption of CIBC Aventura rewards points between March and June 2020. The study found an immense increase in the redemption of points for merchandise and gift cards.
“While travel redemption is down significantly, clients are finding value in the flexibility of using their Aventura points where it matters most to them in this environment,” Jennifer Davidson, the Vice President of Cards Products at CIBC, said in a press release.
Additionally, CIBC suggests that credit card rewards redemptions for electronics and house and home improvement categories are up by 72%…
