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
Award Availability Alert: Fly Virgin Atlantic from Toronto to London for only 12,000 Membership Rewards points Mar 17th
There is an excellent opportunity to use American Express Membership Rewards to fly on Virgin Atlantic’s new Toronto to London route which launches on March 30. By utilizing two transfer options and a bonus on one of those, you can make your way across the Atlantic in economy class for only 12.... More »
‘Tis the Season to Spring Clean Your Wallet + MORE Mar 8th
Ready to lose an hour of sleep?
On Sunday, March 12th at 2 a.m., most Canadians set their clocks back one hour and spring forward.
We can see the light at the end of the tunnel we call winter. So as we start fresh and give into the annual “spring cleaning” tradition, why not give financial spri.... More »
December 28 Update: Receive a $100 Visa Card each night you stay in Kingston, 20% off gift cards via RBC Rewards & Canada Jetlines takes delivery of their 1st plane Dec 29th
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. This update is brought to you by the HSBC World Elite Mastercard which is currently offering a welcome bonus of up to 100,000 bonus points.... More »
June 6 Update: $10 statement credit for J. Crew with Amex Cobalt and British Airways drops Calgary for the winter + MORE Jun 7th
Another American Express Cobalt Perks offer came out this month. This time they have partnered with J. Crew (a long time Amex partner) that when you shop at J. Crew stores in Canada and you can receive a $10 statement credit when you spend $50 or more on your registered Cobalt Card. Find out mo.... More »
Why do Canadians keep falling for scams? + MORE Mar 28th
Many Canadians have learned common telltale signs of phishing emails and fraudulent websites, such as poor spelling, fuzzy logos and sketchy-looking URLs. That knowledge is key, but it’s no longer enough to avoid becoming a victim. Scams are always evolving, becoming more sophisticated and more co.... More »
Top of the morning
While bearish sentiment on the high-yield (or “junk”) bond market appears to be a tad overdone in the short-term, Reuters’ Luciana Lopez and Jennifer Alban provide an excellent look at why so many big names aren’t in love with this asset class:
Six years of interest rate suppression by the U.S. Federal Reserve has driven up prices for high-yielding assets and forced investors searching for income to overpay for everything from junk bonds to stocks that pay big dividends, top money managers told the Reuters Global Investment Outlook Summit this week.
“The high-yield market is sort of in a bubble and sooner or later there will be a price paid for that,” said Carl Icahn, the billionaire investor who said he owns credit default swaps on high yield debt against the 5-year U.S. Treasury note. That means he’s essentially shorting high yield debt while going long on the U.S. five-year note. “We think the risk-reward is great in that CDS,” he said…
Lower-quality corporate debt is “priced to perfection” relative to anticipated default rates, agreed Chris Hentemann, chief investment officer of 400 Capital Management…
Colorado charters first credit union for marijuana industry, but fed approvals remain
– canadianbusiness.com
DENVER – Colorado has granted a charter for the first financial institution to serve the state’s cash-only marijuana industry. But action by the National Credit Union Administration and the Federal Reserve is needed, and pot’s still illegal under federal law.
The charter is a step to resolving a problem for the industry, which generally is unable to obtain traditional banking services. Dispensaries frequently transport cash — a crime risk — and use cash to pay employees, expenses and taxes.
The Division of Financial Services issued the charter Wednesday to The Fourth Corner Credit Union. The Denver Post reports (http://dpo.st/11CYeJF) it could open in January.
Fourth Corner must get insurance from the National Credit Union Administration, but can operate until the administration decides. It also must get a master account from the Federal Reserve.
___
Information from: The Denver Post, http://www.denverpost.com
The post Colorado charters first credit union for marijuana industry, but fed approvals remain appeared first on Canadian Business.
The charter is a step to resolving a problem for the industry, which generally is unable to obtain traditional banking services. Dispensaries frequently transport cash — a crime risk — and use cash to pay employees, expenses and taxes.
The Division of Financial Services issued the charter Wednesday to The Fourth Corner Credit Union. The Denver Post reports (http://dpo.st/11CYeJF) it could open in January.
Fourth Corner must get insurance from the National Credit Union Administration, but can operate until the administration decides. It also must get a master account from the Federal Reserve.
___
Information from: The Denver Post, http://www.denverpost.com
The post Colorado charters first credit union for marijuana industry, but fed approvals remain appeared first on Canadian Business.
Top of the morning
While bearish sentiment on the high-yield (or “junk”) bond market appears to be a tad overdone in the short-term, Reuters’ Luciana Lopez and Jennifer Alban provide an excellent look at why so many big names aren’t in love with this asset class:
Six years of interest rate suppression by the U.S. Federal Reserve has driven up prices for high-yielding assets and forced investors searching for income to overpay for everything from junk bonds to stocks that pay big dividends, top money managers told the Reuters Global Investment Outlook Summit this week.
“The high-yield market is sort of in a bubble and sooner or later there will be a price paid for that,” said Carl Icahn, the billionaire investor who said he owns credit default swaps on high yield debt against the 5-year U.S. Treasury note. That means he’s essentially shorting high yield debt while going long on the U.S. five-year note. “We think the risk-reward is great in that CDS,” he said…
Lower-quality corporate debt is “priced to perfection” relative to anticipated default rates, agreed Chris Hentemann, chief investment officer of 400 Capital Management…
