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
Jan 12 Update: Increased sign up bonus for the Starwood Preferred Guest Credit Card from American Express, United Elite Status Match + MORE Jan 13th
Welcome to our second week of updates for 2015! News, Tips & Tricks There is a new increased sign up bonus for the Starwood Preferred Guest Credit Card from American Express. The regular sign up bonus of 10,000 Starpoints has been increased to 20,000. This card has been ranked the #1 Hotel.... More »
July 29 Update: Aeroplan extends generous refund & rebooking policy + Air Canada adds more flights out of Quebec City + MORE Jul 30th
Here's your Rewards Canada Daily update! Your daily dose (or near daily dose) of loyalty program, credit card and travel news, bonuses, deals and more. Air Canada Aeroplan has updated their refund and rebooking policy by extending it to August 31: Aeroplan flight rewards booked through&nb.... More »
British 'cannibal' killed after police discover him eating young woman's face - National Post + MORE Nov 7th
National PostBritish 'cannibal' killed after police discover him eating young woman's faceNational PostA British man died after being Tasered by police after he was confronted trying to eat the face and eyeball of a woman in his hotel room. Cerys Yemm, 22, was pronounced dead at the s.... More »
Confusion, yes. Champagne, no. Blue Jays clinch post-season berth. + MORE Sep 27th
Sep 21, 2015; Toronto, Ontario, CAN; Toronto Blue Jays right fielder Jose Bautista (19) celebrates scoring a run with catcher Russell Martin (55) during the first inning in a game against the New York Yankees at Rogers Centre. Mandatory Credit: Nick Turchiaro-USA TODAY Sports – RTX1RSCT
TORONT.... More »
How to Save on Holiday Season Travel + MORE Dec 9th
How to Save on Holiday Season Travel
Is the Canadian winter starting to get to you before it has even officially started? Are you tired of waking up in the dark and leaving work in the dark? Is it time to shake up your daily routine? It’s likely that a break from the everyday – perhaps on a sun.... More »
CMHC Axes Second Home and Self Employed Mortgages
– ratesupermarket.ca
Late last Friday, April 25, the Canadian Mortgage and Housing Corporation rolled out the latest changes to impact home buyers – the discontinuation of Second Home and Self-Employed Without Third Party Validation mortgage insurance products. These insurance types will no longer be available to mortgage buyers as of May 30, though applications made before that cutoff will be accepted regardless of closing date.
Who is Affected?
While the CMCH states that these products account for only 3 per cent of its insured mortgage business, self-employed buyers and those looking to buy or co-sign on a second home will feel the squeeze.
If You Are Self Employed: Those who work for themselves have additional hoops to jump through when securing mortgage financing. They must present proof of their working situation, past income, and projected earnings to confirm their status as a qualified borrower, traditionally with the following documents:
- Notice of tax assessment
- Audited documentation proving income and business details, or
- Unaudited documentation prepped and validated by a third party
CMHC’s product allowed self-employed buyers to bypass this validation step if they had a credit score higher than 650, and made a minimum 10 per cent down payment…
Transfer points to Aeroplan to earn up to 25,000 Bonus Aeroplan Miles
– RewardsCanada.ca
Aeroplan has once again brought back their partner transfer bonus that we saw in November 2013 April 2013, November 2012 and so on. Basically what it entails is transferring points out of other select loyalty programs into your Aeroplan account. Just like in November, the offer is once again cumulative across all participating partners and the bonus maxes out at 25,000 miles again. (We haven’t seen the 40,000 miles bonus since April of last year so it looks like it may have gone the way of the dodo bird…) and there are no financial partners involved this time as well, for Canadians that is, Americans get Diners Club Club Rewards in that category. Basically you can transfer from partners like Starwood, Hertz and more (see the last graphic) and as long as the total Aeroplan miles deposited from all of them reaches one of the bonus target levels you will be awarded the respective bonus miles. And just like the last two versions of this offer, American Express Membership Rewards is unfortunately not included…
