Why we overspend to earn rewards points Jun 21st

How to go about securing the best rate and plan for your credit card in Canada.

Latest News

How international students can build credit in Canada Jul 16th

Moving to Canada as an international student comes with a long financial to-do list, and building credit is one of the most important items on it. Your credit history from home typically doesn’t transfer, which means you may need to start from scratch when applying for a credit card, phone plan, a.... More »

The best GIC rates in Canada for 2026 Jul 22nd

GIC comparison tool Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance. Why trust us MoneySense is an award-winning magazine, helping Canadians navigate m.... More »

How to plan for the cost of caring for an aging pet Aug 13th

As Lucy grew older, her blood work started to show some abnormal results. By the time the 80-pound shepherd mix was turning 10, her owner Emma Gilmour wanted a diagnosis. Lucy’s veterinarian had mentioned Cushing’s disease as a possibility. Gilmour paid close to $5,000 for further testing, incl.... More »

Woman in her 30s killed in hit-and-run near Mississauga's Credit Valley Hospital Jul 5th

Police say that the suspect fled eastbound on Eglinton Avenue from Erin Mills Parkway in a sedan..... More »

Newly employed? Know your tax deductions Jul 24th

Convocations and graduation ceremonies are over and new employment contracts are in place. Now, it’s time to understand the tax consequences—especially when take-home pay is a lot smaller than expected. Most new employees can benefit from an onboarding process that includes information about .... More »

Why we overspend to earn rewards points

– moneysense.ca

Even the most financially disciplined person might catch themselves chasing rewards from a credit card or loyalty rewards program. It’s not just you or a lack of willpower; credit card issuers and retailers design rewards programs to tap into the psychology of spending.

Research shows that people tend to spend more when using credit cards, make more impulse purchases, and even leave larger tips. Rewards programs can reinforce those habits since each purchase feels like a step towards something valuable, which can make it harder to stick to a budget.

The good news is that being aware of how these programs influence your behaviour can help you decide whether you need a purchase or whether you’re shopping just to earn rewards.Plus, we’ll show you how to make the most of rewards programs without going into debt.

The psychology behind spending

Have you ever noticed that if you have a reward offer, you end up spending more than you intended, even if you’re getting a discount or earning points? That the overspend effect…

Continue Reading On moneysense.ca »

Not sure what the best Credit Card rates in Canada are? Be sure to get the best rates possible – Visit our Credit Card page for details.

Share