How to go about securing the best rate and plan for your credit card in Canada.
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Canadian Tire says recent breach of e-commerce database involved customer info + MORE Oct 14th
The breached data included names, addresses, emails and birth years as well as encrypted passwords and in some cases, incomplete credit card numbers..... More »
flydubai becomes Air Canada Aeroplan’s newest airline partner + MORE Dec 7th
Air Canada Aeroplan continues to grow its partner roster with flydubai joining the ranks of 45+ airlines that are now part of the program. Based out of Dubai, flydubai operates 81 Boeing 737 aircraft to over 120 destinations in 54 countries across Africa, Central Asia, the Caucasus, Central and Sout.... More »
TFSA contribution room calculator Dec 11th
Tax-free savings accounts (TFSAs) are one of the most popular tools for retirement savings. Since you contribute funds that you’ve already paid taxes on, you’ll enjoy tax-free growth. However, the government places limitations on how much you can contribute every year and overall. This is known .... More »
The best grocery credit cards in Canada for 2023 + MORE Nov 17th
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The best grocery credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Earn up to 55,000 points with the RBC Avion Visa Infinite Card – a good way to get a quick injection of points + MORE Apr 14th
The best ever bonus of up to 55,000 Avion points on the RBC Avion Visa Infinite card and RBC Avion Visa Platinum Card continues to be a popular option in the market right now! This is one of the easiest welcome bonuses to achieve right now and is great for someone looking to get quick […]
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RWRDS Daily Update – September 21, 2023
– RewardsCanada.ca
Discounted free night rewards at two Choice Hotels properties in Canada, WestJet adding Victoria-Las Vegas flights, Earn bonus points or a statement credit with new Amex Offers for Hugo Boss. Check out today’s points & miles updates here:
The post RWRDS Daily Update – September 21, 2023 appeared first on Rewards Canada.
The post RWRDS Daily Update – September 21, 2023 appeared first on Rewards Canada.
How much credit card debt does the average Canadian have?
– moneysense.ca
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 forces are adding pressure to those with variable-rate loans and mortgages. Unsurprisingly, many Canadians are using their credit cards to charge their expenses.
How much debt does the average Canadian carry?
The average credit card balance for Canadians in the first quarter of 2023 was $3,909, according to Transunion. And that is up from average monthly credit card spend of almost $2,447 in the third quarter of 2022, which is above the 17.3% from same time in 2021 and up 21.8% in 2019, according to Equifax. And from another report, Canadian consumer debt has risen to $2.4 trillion, with an average debt load of approximately $21,131—excluding mortgages. And Canadians are using credit cards more, as there was a 9% increase in credit balances in June 2023 compared to the same time last year…
