Moody’s backs ‘Aa1′ rating on UK’s bonds after Scotland votes to remain part of union + MORE Sep 19th

Big news from the retail world as Costco splits from Amex in favour of MasterCard News, Tips & Tricks If you follow forums like Red Flag Deals or have spoken with me in the last couple of weeks you’ll have known that the relationship between Costco and American Express here in Canada was ending. The news was officially released yesterday that as of December 31st the marriage between the two is over. As of January 1st, 2015 Costco will work with Capital One Financial and start accepting MasterCard. Good news is it doesn’t have to be a Cap One card but any MasterCard (hello to using my Diners Club card and not my Platinum Card from Amex). Capital One will come out with co-branded Costco Platinum MasterCard that will also serve as your Costco membership card should you choose to get the card. No details yet of what the card will offer but many of Capital One’s cards are quite strong in both the rewards and benefits category so we can assume it won’t be below average. For me it is kind of sad to see this partnership end as I got my very first Amex strictly for Costco as I cringed each time I shopped there, used debit and thought about all the rewards points I was missing out on…

NEW YORK, N.Y. – Fitch Ratings says that the U.S. still deserves its highest credit rating.
Fitch on Friday affirmed its “AAA” rating on U.S. debt. The ratings agency said its outlook on the rating is stable, meaning it does not expect a downgrade in the near future.
Fitch said the U.S. can tolerate more debt than other countries because the dollar is the world’s pre-eminent reserve currency and fixed-income asset. It also noted the country has the deepest and most liquid capital markets in the world.
The federal deficit should decline as a portion of gross domestic product over the next few years, though it should resume growing in fiscal 2016, Fitch said
The U.S. is recovering more quickly from the Great Recession than most other advanced countries, though the recovery is slow compared to past economic crises.
Fitch also said economic policymaking in the U.S. is weaker than in other countries with strong credit ratings, as evidenced by the debt ceiling crises, the federal government shutdown in 2013, and other events…

NEW YORK, N.Y. – Moody’s Investors Services maintained its rating on United Kingdom government-backed bonds Friday, a day after voters in Scotland decided against national independence.
Moody’s affirmed an ‘Aa1′ rating, its second-highest rating, and a stable outlook on U.K. government bonds. The firm added that it has a stable outlook on the bonds, which means it doesn’t believe downgrades are likely in the next year to 18 months, and it said the U.K. has “very high” economic strength.
“While the political process going forward will likely lead to further devolution of powers to Scotland and some changes in the fiscal transfers, the rating agency does not anticipate that these will have a material impact on the quality of the U.K.’s institutions, or its financial strength,” said Moody’s analyst Sarah Carlson.
The firm said in May that if Scotland chose to become independent, the U.K.’s credit profile would not have changed very much and it probably would not have lowered its rating…

Card issuers, retailers and other companies are coming up with a host of new tactics to try and stem credit card fraud

The Supreme Court has given legal ammunition to a class-action suit that could mean a big payoff for Quebecers who used their credit cards outside Canada.