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
Air Canada: Earn up to 1,500 Bonus Aeroplan Miles for select flights within Canada or between Canada and the U.S. Feb 7th
Air Canada launched a new flight bonus offer yesterday. The offer is a tiered bonus that awards more miles for the more segments you fly, although it isn't a ton of segments required. 2 segments on participating routes will get you 500 bonus miles then add one more segment and you'll get 1,000 more .... More »
WestJet Rewards: Up to Double Elite Qualifying Spend on flights within Canada or between Canada and the U.S. + MORE Feb 26th
Here's a great new offer from WestJet Rewards! You can earn up to Double Qualifying Spend credit on flight you book with WestJet within Canada and to the U.S.. You must book Econo or higher fares by March 31 for travel until April 17. The bonuses vary based on the fare class you buy:Bonus Qualifying.... More »
The Best Secured Credit Cards of 2018 + MORE Jun 25th
A secured credit card is one that might require that you provide funds to guarantee the loan. Remember, a credit card is a loan, and if you have no credit, or bad credit, issuers might be reluctant to issue you a card. This is where a secured credit card comes in.
If you are willing to provide a sec.... More »
The revamped Scotiabank Platinum American Express Card is here with a 60,000 point welcome bonus + MORE Jul 5th
The revamped Scotiabank Platinum American Express Card debuted on July 1st along with a new best ever welcome bonus offer! The card's revamp takes place in the earn rates, benefits and insurance offered. It is now has a flat earn rate across all spending, no foreign transaction fees and now of.... More »
April 26 Update: Changes coming to the Scotiabank Gold American Express and Momentum Visa Infinite Cards, PC Optimum redemption bonus event this weekend & more! + MORE Apr 27th
If you read Red Flag Deals or Reddit you may have seen news about upcoming changes to the Scotiabank Gold American Express Card and Scotia Momentum Visa Infinite Card. We are working on getting more details of the changes and have a call with Scotia next week about them and will follow up with a p.... More »
Tribunal set to rule on alleged anti-competitive Visa, MasterCard practices
– theglobeandmail.com
Striking down the rules could allow merchants to either reject certain cards that offer incentive points, or charge consumers more for using them.
Tribunal set to rule on alleged anti-competitive Visa, MasterCard practices
– canadianbusiness.com
OTTAWA – A ruling expected this week on a complaint against Visa and MasterCard could significantly change how consumers use credit cards in Canada.
The federal Competition Tribunal is set to issue a decision Tuesday on whether rules imposed on merchants by the credit card giants are too restrictive.
Striking down the rules could allow merchants to either reject certain cards that offer incentive points, or charge consumers more for using them.
Under the current rules, merchants are required to accept all Visa and MasterCard offerings, but are prevented from charging an additional fee to those who pay with so-called premium cards, which come with higher costs.
Canada’s Commissioner of Competition filed a formal complaint with the tribunal in May 2012, accusing Visa and MasterCard of engaging in anti-competitive behaviour.
Consumers have been forced to pay an estimated $5 billion worth of hidden fees each year as a result, the complaint says.
“Without changes to the rules, merchants will continue to face high costs for accepting credit cards, and all consumers, even those who use lower-cost methods of payment like debit or cash, will continue to pay higher prices,” commissioner Melanie Aitken said in a statement at the start of hearings…
The federal Competition Tribunal is set to issue a decision Tuesday on whether rules imposed on merchants by the credit card giants are too restrictive.
Striking down the rules could allow merchants to either reject certain cards that offer incentive points, or charge consumers more for using them.
Under the current rules, merchants are required to accept all Visa and MasterCard offerings, but are prevented from charging an additional fee to those who pay with so-called premium cards, which come with higher costs.
Canada’s Commissioner of Competition filed a formal complaint with the tribunal in May 2012, accusing Visa and MasterCard of engaging in anti-competitive behaviour.
Consumers have been forced to pay an estimated $5 billion worth of hidden fees each year as a result, the complaint says.
“Without changes to the rules, merchants will continue to face high costs for accepting credit cards, and all consumers, even those who use lower-cost methods of payment like debit or cash, will continue to pay higher prices,” commissioner Melanie Aitken said in a statement at the start of hearings…
OTTAWA – A ruling expected this week on a complaint against Visa and MasterCard…
OTTAWA – A ruling expected this week on a complaint against Visa and MasterCard…
A ruling expected this week on a complaint against Visa and MasterCard could significantly change how consumers use credit cards in Canada.
