The “Big Five” Canadian banks 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). Are there other viable options?
Latest News
3 Ways to Beat Blue Monday Debt + MORE Jan 21st
Feeling a little, well, blah these days? You’re not alone; mid-January is proven to be the most depressing time of year. Known as Blue Monday, Canadians are most likely to feel down in the dumps between the 18th to the 25th, thanks to a mix of fading holiday cheer, weak sunshine, failed resolutio.... More »
Making sense of the markets this week: November 27, 2022 Nov 26th
This week, Cut the Crap Investing founder, Dale Roberts, shares financial headlines and offers context for Canadian investors.
It’s wonderful to be back writing “Making sense of the markets this week” at MoneySense. I am gladly filling in for a few weeks while Kyle Prevost is away on a drea.... More »
The best high-interest savings accounts in Canada for 2024 + MORE Nov 19th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate mo.... More »
Millions in suspected Russian crime proceeds flowed through Canadian banks, companies May 10th
A powerful Russian crime syndicate that’s accused of laundering hundreds of millions of dollars around the world appears to have also flowed millions through nearly 30 Canadian bank accounts..... More »
Scotiabank reports higher Q3 earnings, sets aside less money for bad loans + MORE Aug 30th
Scotiabank is the latest of the big banks to report higher profits in the third quarter, thanks to strong returns from its domestic and international banking operations..... More »
Half Of Canadians Carry 4 Or More Rewards Cards
– ratesupermarket.ca
Americans may be crazy for couponing but Canadians have a bit of a loyalty program and rewards card addiction.
According to a recent RBC survey, half of Canadian reward holders carried four or more cards in their wallet in 2013, with rewards credit cards being the most frequently used.
Further to that, half of Canadian rewards cardholders use their rewards or loyalty cards two or more times in a week.
“Today’s rewards programs offer Canadians a lot of value,” says Donna Lue-Atkinson, vice-president of Global Loyalty Programs and Rewards at RBC. “Canadian reward cardholders are more engaged with their programs than ever – they’re looking for opportunities to earn and maximize their points collection while enjoying the benefits the programs have to offer.”
So much so that four in 10 rewards cardholders are more likely to shop at locations where they earn points.
Groceries are the top expenditure amongst rewards cardholders (28 per cent), followed by bill payments (12 per cent), dining (9 per cent) and leisure (8 per cent)…
