All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
Rate survey: Average card APR climbs to record high of 16.71 percent May 2nd
May 2, 2018: The average credit card interest rate on new card offers set a new record this week, climbing to 16.71 percent, according to the CreditCards.com Weekly Credit Card Rate Report.... More »
When are credit-card rewards worth paying an annual fee? + MORE Aug 1st
For the last decade or so, Jim and Willina Collins have enjoyed a regular bonus by using their no-fee cash-back credit card to pay for many of their expenses, including holiday flight and accommodation bookings, gasoline, vehicle repairs, and insurance on their vehicles (the couple have a car and a .... More »
Canada’s best travel credit cards for 2023 + MORE Apr 13th
Credit Cards
Best travel credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
Let’s get started*
.... More »
BMO will cap the AIR MILES Mastercard's new 2x grocery earn rate + MORE Jul 19th
Last week it was announced the BMO AIR MILES Mastercards will be receiving a full time grocery store purchase accelerator in light of AIR MILES losing the Empire group of stores as a partner. The news revealed the co-brand cards will earn 2x AIR MILES Reward Miles on purchases at all grocery s.... More »
Amex Offers: Spend $175 with Amex Travel for hotel or car rentals and receive a $50 statement credit + MORE Jul 20th
A new Amex Offers for booking with Amex Travel came out today This offer provides a $50 statement credit when you spend $175 or more on prepaid hotel or car rental bookings online with Amex Travel. The offer is good for one single qualifying purchase or cumulative qualifying purchases so you could .... More »
How a balance transfer card can boost FICO score
– creditcards.com
Opening a new line of credit can boost your rating by reducing your overall debt-to-credit-limit ratio
Buying a house with only 5% down
– moneysense.ca
(mstay/Getty Images)Real estate is a popular investment because for a relatively small amount of money, you can own an asset worth significantly more. It’s the power of leverage and while there can be some significant drawbacks used wisely, leverage can help you build your net worth.
For first-time home buyers, this leverage opportunity translates into a chance to put only 5% down to own your home. For instance, you could purchase a condo or home for $450,000 with only $22,500 (plus transactional/closing costs).
But to use the 5% down payment option, the following rules apply:
* The home will be your principal residence—in other words, you will actually live in the home. So if you plan on buying a condo, only to rent it out, you won’t be eligible for the Canada Mortgage and Housing Corporation’s 5% down payment option.
* The actual 5% sum must be from your own funds or from a gift from a family member. You cannot use a loan or line of credit.
* You can prove to your lender that you can cover the transactional closing costs on the real estate deal…
Rate survey: Average card rate remains stuck at 15 percent
– creditcards.com
July 22, 2015: Interest rates on new credit card offers stayed in place again this week, according to the CreditCards.com Weekly Credit Card Rate Report
July 22 Update: Executive Hotels buys the Cosmopolitan in Toronto, new Amex Centurion lounge in Houston, Porter to North Bay
– RewardsCanada.ca
News, Tips & TricksExecutive Hotels, which were featured in our Guide to Canadian Hotel Frequent Guest Programs has bought the Cosmopolitan Hotel in Toronto. This is Executive Hotels first location east of Saskatchewan. You should now be able to earn and burn Executive Rewards points at this location. (Source Executive Hotels) Watch for their New York City location to open soon! American Express has announced yet another new Centurion Lounge in the U.S.! The latest will open up in Houston in the first half of 2016. Of course us Canadians can access the lounge for free when it opens if you hold The Platinum Card from American Express. You can also access the lounge with other American Express cards but you will have to $50 to enter. (Source View from the Wing)Porter Airlines will start daily service between Toronto and North Bay on October 7th. (Source Porter) Bonus Offers Air China Phoenix Miles – Earn up to Triple Phoenix Miles Kilometers for stays at participating Okura Hotels & Resorts, Nikko Hotels International and Hotel JAL City Worldwide…
