All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
July 4 Update: WestJet's Race for Rewards opened up to Teal members, RBC Cathay Pacific Visa sign up bonus increased to 35,000 Asia Miles & more Jul 4th
WestJet has expanded their Race for Rewards promotion to include base Teal members now. If you are a Teal member the bonuses are the same as those for Silver members. This offer will allow Teal members to earn up to 450 Bonus WestJet Dollars + additional benefits when you fly on WestJet . For more.... More »
Eater Live: 2023 James Beard Awards Presented by Capital One Restaurant & Chef Awards - Eater + MORE Jun 6th
Eater Live: 2023 James Beard Awards Presented by Capital One Restaurant & Chef Awards EaterJames Beard Award Winners 2023 BBCA watch party to be held for acclaimed Charleston chef, Paul Smith as he takes the national stage West Virginia MetroNewsPhotos: The 2023 .... More »
To qualify for business loan, lower your personal credit use Mar 21st
A careful balance transfer may help lower credit utilization.... More »
Canadian North Systemwide Salebration - 40% off flights + 2x Aurora Rewards Points + 1x Aeroplan Miles (book by 11/25) + MORE Nov 25th
Canadian North has a great Black Friday offer that you can book today and tomorrow for travel January 1 - April 30th! All routes are 40% off and on top of that you'll earn double Aurora Rewards points. Remember that with Canadian North you can double dip and earn Aeroplan Miles as well as your Auror.... More »
HotelSavers – a new redemption option from Aeroplan + MORE Oct 5th
HotelSavers – a new travel redemption offering from Air Canada’s Aeroplan officially launched today. The program has partnered with 11 hotel chains featuring a total of 39 global hotel brands to offer Aeroplan members up 30% more value per point for hotel stays. HotelSavers can be found at a.... More »
Introducing the BMO CashBack World Elite MasterCard and BMO CashBack World MasterCard
– RewardsCanada.ca
Last week we let you know about the new BMO AIR MILES World Elite MasterCard that was officially released yesterday but that’s not the only card BMO just announced. They are also introducing a new Cash Back card, the BMO CashBack World Elite MasterCard.Here are the basics of this new entrant to the Cash back credit card space:- 1.75% Cash back on all purchases- 8 day travel and medical protection*- Roadside Assistance*- Purchase Protection Plus and Extended Warranty Plus*- $120 annual fee however the first year is free if you apply by August 31A quick look at this card puts it at the higher end of the cash back spectrum and the earning is simple, no tier bonuses etc. A straight 1.75% back on all purchases. This puts the card at .25% disadvantage when compared to its BMO Rewards World Elite MasterCard companion but that card’s 2% back is strictly limited to travel redemptions where with this card you have that cash back to spend on anything. And like most Cash Back cards the benefits are limited although it is nice to see the 8 day emergency medical insurance included… A study released today by the Bank of Canada shows that less than half of our purchases are made in cash, while payments by credit card and even cellphones are growing quickly.
Getting a mortgage? Pay debts, go easy on charging
– creditcards.com
The time between getting preapproved for a mortgage and the closing date on your home is crucial for your credit, so don’t blow it by charging too much
High-income Canadians using cash the least: Bank of Canada
– theglobeandmail.com
Central bank researchers issue report on use of bank notes versus credit and debit
Canadians pay with cash less than half the time
– moneysense.ca
(Stuart Dee/Getty Images)OTTAWA – Canadians are now using cash for fewer than half of their transactions, a survey done for the Bank of Canada suggests.
Instead, shoppers are increasingly reaching for their credit card and new technology that allows customers to just tap their card and pay.
The research by the central bank’s Ben Fung, Kim Huynh and Gerald Stuber was included as part of the spring edition of the Bank of Canada Review on Thursday.
“Innovation in retail point-of-sale and online payment systems continues to be significant, particularly in enhancing the speed and convenience of the payment process for lower-value transactions, an area where cash still dominates,” the article authors wrote.
“Contactless credit cards, in particular, are seeing strong growth in use, while Interac debit cards with the tap-and-go feature are at a relatively early stage of market development.”
According to a 2013 method-of-payment survey, credit card use increased to nearly 31 per cent compared with just over 19 per cent in 2009…
