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Air Canada Aeroplan and Marriott Bonvoy Launch Expanded Loyalty Partnership Offering Status Match and Two-Way Currency Transfer
– RewardsCanada.ca
The post Air Canada Aeroplan and Marriott Bonvoy Launch Expanded Loyalty Partnership Offering Status Match and Two-Way Currency Transfer appeared first on Rewards Canada.
Why are credit card interest rates so high in Canada?
– moneysense.ca
The rate of interest levied on credit card balances borders on usurious and is perhaps the most egregious example of the banking system’s exploitation of its information advantage it enjoys over its clients.
Credit card interest rates hover around 20%, roughly where they have been since the early 1980s when inflation and interest rates were in double digits. Canada’s inflation has averaged about 2% between 1992 and 2022, and all interest rates have declined dramatically with it except credit card rates. Even as inflation has exceeded 2.0% for the past few years, the recent back-up in other interest rates remains well below credit card rates. In fact, one has to squint to see any decline in credit card interest rates since 1980.
Let’s compare some numbers. In 1981, the interest rate on a Visa or a Mastercard was about 25%. Inflation was 12%, and the bank rate—the rate at which the Bank of Canada loans to the banking system—was a bit over 21%. The prime rate, or the rate of interest offered to a bank’s best customers, was 22…
Scientists now know what the head of the biggest bug to ever crawl the Earth looked like – Phys.org
– news.google.ca
Scientists now know what the head of the biggest bug to ever crawl the Earth looked like – Phys.org
– news.google.ca


