All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
August 25 Update: Porter Airlines Pittsburgh launch sale, KLM Business Class sale, IHG Rewards Club Accelerate + MORE Aug 25th
Tuesday always seem to be a bit slower especially as the end of the month approaches! News, Tips & Tricks No news for you today! Posts since our last update:Great KLM Business Class Sale for Fall/Winter/Spring flights - Europe from $2,299 all in, Africa from $2,799 and more! KLM are it a.... More »
Rate survey: Average card APR stays at record high of 16.14% + MORE Aug 24th
August 23, 2017: The average APR for new card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report..... More »
5 ways 'credit invisibles' can build a credit profile + MORE Apr 25th
No credit profile? With a few steps, create or rebuild a credit history.... More »
Online dating scams: How to protect your heart and wallet + MORE Feb 10th
Romance scammers might persuade you to drain you bank accounts, max out your credit cards – all to send them the cash..... More »
WestJet’s COVID refunds—can you get your money back? Oct 22nd
In a somewhat surprising move on October 21, 2020, WestJet announced it will be issuing refunds to the original form of payment to travellers who had their flights cancelled due to COVID-19.
You would think this would have been an obvious move back in March 2020, but airlines are notorious for holdi.... More »
Almost all business cards require personal guarantee
– creditcards.com
If no one in your organization wants to guarantee a business card, you’ll probably need to look at other options such as reimbursing expenses on personal cards and establishing trade credit with suppliers
How unused credit impacts your credit rating
– moneysense.ca
Q: Can having an unused line of credit for 20 years negatively affect your credit rating? —Don Sutton, Victoria
A: Decoding the human genome is a Grade 6 science fair project compared to decoding the credit rating algorithm. There are many variables that go into it but the first one that matters in your case is credit history: From this perspective it can be a positive that you’ve had a line of credit for such a long time. You haven’t used it, but you also haven’t abused it, so that’s good. The second variable is credit utilization—the ratio of your debt to your available credit. This line of credit shows that you have access to credit but aren’t too close to using it all up, which is also positive. That said, lenders always look at the total picture, says Clifton O’Neal from TransUnion. “There is no history to demonstrate responsible management of this line of credit. If you are maxed out on your other lines of credit, this unused line could be seen as a liability.” What I would do is order your credit report from either TransUnion or Equifax…
A: Decoding the human genome is a Grade 6 science fair project compared to decoding the credit rating algorithm. There are many variables that go into it but the first one that matters in your case is credit history: From this perspective it can be a positive that you’ve had a line of credit for such a long time. You haven’t used it, but you also haven’t abused it, so that’s good. The second variable is credit utilization—the ratio of your debt to your available credit. This line of credit shows that you have access to credit but aren’t too close to using it all up, which is also positive. That said, lenders always look at the total picture, says Clifton O’Neal from TransUnion. “There is no history to demonstrate responsible management of this line of credit. If you are maxed out on your other lines of credit, this unused line could be seen as a liability.” What I would do is order your credit report from either TransUnion or Equifax…
