The “Big Five” Canadian banks offer credit cards and 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). Did you know that there are many other options?
Latest News
Earn up to 15,000 bonus Aeroplan points on Air Canada flights to Australia + MORE May 16th
Air Canada is offering up to 15,000 bonus Aeroplan points on flights to Australia that are booked during their recently launched Australia seat sale. Not are bonus Aeroplan points up for grabs but the sale also provides a $300 discount on new bookings of select Economy, Premium Economy Lowest and Bu.... More »
Stock Market Today: Dow Up As Financial Stocks Rise, Trump Tempers China Tariff View (Live Coverage) - Investor's Business Daily + MORE Oct 17th
Stock Market Today: Dow Up As Financial Stocks Rise, Trump Tempers China Tariff View (Live Coverage) Investor's Business DailyGlobal bank stocks waver as investors fear credit risks in U.S. regional banks CBCRegional banks’ bad loans spark concerns on Wall Street C.... More »
The best rewards credit cards in Canada for 2024 + MORE Jul 6th
Spend
The best rewards credit cards in Canada for 2024
Rewards credit cards help you earn cash back or points, which can be redeemed toward groceries, travel, merchandise, gift cards and more.
Compare now
<s.... More »
These credit cards can help you save big on travel to Orlando + MORE Oct 29th
Orlando, Florida, is an expensive destination. A family of four could easily spend $1,000 per day on theme parks alone. It’s no surprise that for many families, visiting the city ends up being a once-in-a-lifetime opportunity. Despite its budget-busting costs, Orlando welcomed a record-breaking 1..... More »
Earn up to 2x Aeroplan points on Air Canada flights to sun destinations + MORE Jan 25th
Air Canada has launched a new flight bonus to reward Canadians looking to escape our winter! Aeroplan members who register and book flights during this promotion will earn up to 2x points for travel sun destinations in the U.S., Caribbean and Mexico. As with all Aeroplan flight bonuses this offer is.... More »
This Week in RWRDS: December 16 – 22, 2023
– RewardsCanada.ca
This week, we look at the Ultimate Guide to AIR MILES Receipts, review the CIBC Dividend Platinum Visa Card, discuss IHG’s next systemwide promotion and 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 discussion: The Ultimate Guide to […]
The post This Week in RWRDS: December 16 – 22, 2023 appeared first on Rewards Canada.
The post This Week in RWRDS: December 16 – 22, 2023 appeared first on Rewards Canada.
Will GIC rates keep going up in 2024?
– moneysense.ca
As Canadians are painfully aware, Canada’s inflation has stubbornly persisted above the Bank of Canada’s (BoC) target rate of 2%. In response, the BoC has repeatedly raised the benchmark interest rate—which sets the pace for banks’ prime rates—since early 2022. While no one can predict with certainty where interest rates are going, the BoC seems in no hurry to reduce rates just yet, having kept the benchmark rate stable at 5% since July 2023.
As a result of these rate hikes, the interest rates available on guaranteed investment certificates (GICs) have risen as well—leading to renewed interest from savers and investors. In fact, over the past 12 months, the average one-year Canadian GIC rate has shot up from 2% to 4.90%. As a result of this move-up in rates, even market-linked GICs—which offer a lower guaranteed interest rate because of higher potential gains linked to the stock market—are offering a minimum guaranteed rate over 2%, as of mid-December 2023.
How high will GIC interest rates go?
The interest rates you pay on various types of debt, like a mortgage or a line of credit, depends mainly on the benchmark rate set by the BoC…
