All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
RWRDS Daily Update – August 16, 2024: Coast Hotels adds Weyburn location & earn up to 250 bonus AIR MILES on back to school shopping Aug 16th
Coast Hotels adds new location in Weyburn, Saskatchewan and earn up to 250 bonus miles with AIR MILES Shops. Check out today's points & miles updates here:
The post RWRDS Daily Update – August 16, 2024: Coast Hotels adds Weyburn location & earn up to 250 bonus AIR MILES on back to scho.... More »
Membership Rewards Use Points for Purchases explained + MORE Nov 21st
In 2016 American Express took a major step in providing more flexible reward options for Cardmembers earning Membership Rewards points. They took their very popular TripFlex option, which allowed Cardmembers to redeem points against any travel charge that was paid for with a Membership Rewards earni.... More »
Australia CANCELS Katie Hopkins' visa after quarantine breach, reveals TV star was allowed in on basis of ‘economic benefit’ - RT + MORE Jul 18th
Australia CANCELS Katie Hopkins' visa after quarantine breach, reveals TV star was allowed in on basis of ‘economic benefit’ RTKatie Hopkins to be deported from Australia ‘imminently’ after visa cancelled The Guardian AustraliaAustralia to deport commentator Hopkins for.... More »
Survey: Average card rates stay at 15 percent for 8th week + MORE Aug 13th
Aug. 12, 2015: Average credit card interest rates remained at 15 percent Wednesday for the 8th consecutive week, according to the CreditCards.com Weekly Credit Card Rate Report..... More »
April 7 Update: New Amex Offer for Direct Energy, Visa & Mastercard raise tap limits to $250 and Royal Air Maroc officially joins oneworld + MORE Apr 8th
Another new offer is out with Amex offers. The latest is spend at least $100 in qualifying electricity and natural gas purchases with Direct Energy and earn a $25 statement credit. Limit of 6 credits. Simply register for the offer via the Amex App or your American Express account online. Persona.... More »
Ottawa unveils prepaid credit card rules
– thestar.com
Government also launches public consultation on financial code of conduct to protect consumers from other abuses.New prepaid credit card rules coming
– moneysense.ca
OTTAWA – The federal government says it’s doing away with expiry dates on prepaid credit cards.And new regulations will ensure card issuers aren’t allowed to impose fees that eat away at a card’s balance within the first year.
The change comes after consumers complained that terms for using the cards were unclear and cumbersome and that card issuers imposed unfair fees.
Minister of State for Finance Kevin Sorensen says the rules governing use of the cards, which will come into effect in May, will have to be spelled out clearly for consumers.
Sorensen says Ottawa will also create a comprehensive consumer financial code to better protect users of financial products.
Through a consulation process, Canadians can offer suggestions for what they’d like to see in the code.
“A consumer code will help Canadians make more informed financial decisions today and in Canada’s rapidly changing, increasingly digital financial marketplace in the future,” said Maxime Bernier, minister for small business…
Ottawa is going ahead with new regulations on prepaid credit cards, but not in time for the holiday shopping season.
Feds take on prepaid credit cards
– canoe.ca
The feds are set to ban expiry dates and surprise fees on prepaid credit cards, and are asking for Canadians’ input on further regulations.
How I Ruined My Credit Score: 3 Debt Truths You Need To Know
– ratesupermarket.ca
“You can’t be doing this.”
Those words came from the mouth of my financial advisor as we discussed my credit options. On his side of the desk, a monitor displaying my FICO score. On my side, feelings of sheepishness, frustration, and more than a little bewilderment. He was referring to my longstanding habit of paying just the minimum on my credit card bill – one I always paid dutifully on time, and, unbeknownst to me, was ripping my credit score to shreds.
I had been carrying close to my max limit for several years at that point – a balance I had wracked up in bygone days of early 20’s hijinks. Now that I was considerably more responsible (and making considerably more money), I wasn’t too worried. The debt amount in question was only a few thousand dollars – and after all, I made enough to pay it off eventually, right?
That would be a big, fat, NO. As I was about to learn, carrying an almost-maxed balance is one of the cardinal sins of credit – it’s a sign to lenders that you aren’t responsible with debt repayment…
