The “Big Five” Canadian banks 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). Are there other viable options?
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RateSupermarket.ca Will Become RATESDOTCA Sep 30th
We are excited to announce that RateSupermarket.ca will become RATESDOTCA. Don’t worry, besides a name change, how you compare the best credit cards and mortgage rates will remain the same.
What does this mean for you?
Our name is changing, but rest assured, everything else will remain the same.
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Chequing vs. Savings Account: What’s the Difference? Oct 2nd
When it comes to managing your finances, using the correct type of bank account is very important. But while the differences between a chequing account and a savings account may seem obvious to some, you would be shocked at the number of people who use their savings accounts for daily transactions o.... More »
Why Hollywood Celebrities Are Petitioning Against a Canadian Bank Mar 23rd
Royal Bank of Canada’s financial support for the Coastal GasLink pipeline is generating some star-studded opposition.
More than 65 celebrities, including award-winning actors, directors and musicians, have joined Indigenous climate activists in signing a petition calling on RBC and its subsidia.... More »
Mortgage deferral coming to an end? You have other options — but beware of penalties Sep 14th
The major Canadian banks are preparing for the end of the deferral period and offering to work with clients to ensure they can continue to meet their financial obligations in a manageable way, Elaine Smith writes..... More »
The best American Express credit cards in Canada for 2023 + MORE Nov 1st
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The best American Express credit cards in Canada for 2023
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Credit Card Rewards Redemptions Are Surging During COVID-19
– ratesupermarket.ca
The number of Canadians redeeming credit card points for everyday purchases is surging during the pandemic, according to a study by CIBC. Typically, Canadians would use their credit card points to travel this time of year. However, COVID-19 continues to restrict border crossings and flights, which is causing an unusual trend in credit card redemptions.
CIBC is one of the five largest banks in Canada and is a global institution that has over 10 million personal, business, institutional and public sector clients. The bank’s recent study reviews the redemption of CIBC Aventura rewards points between March and June 2020. The study found an immense increase in the redemption of points for merchandise and gift cards.
“While travel redemption is down significantly, clients are finding value in the flexibility of using their Aventura points where it matters most to them in this environment,” Jennifer Davidson, the Vice President of Cards Products at CIBC, said in a press release.
Additionally, CIBC suggests that credit card rewards redemptions for electronics and house and home improvement categories are up by 72%…
Credit Card Rewards Redemptions Are Surging During COVID-19
– ratesupermarket.ca
The number of Canadians redeeming credit card points for everyday purchases is surging during the pandemic, according to a study by CIBC. Typically, Canadians would use their credit card points to travel this time of year. However, COVID-19 continues to restrict border crossings and flights, which is causing an unusual trend in credit card redemptions.
CIBC is one of the five largest banks in Canada and is a global institution that has over 10 million personal, business, institutional and public sector clients. The bank’s recent study reviews the redemption of CIBC Aventura rewards points between March and June 2020. The study found an immense increase in the redemption of points for merchandise and gift cards.
“While travel redemption is down significantly, clients are finding value in the flexibility of using their Aventura points where it matters most to them in this environment,” Jennifer Davidson, the Vice President of Cards Products at CIBC, said in a press release.
Additionally, CIBC suggests that credit card rewards redemptions for electronics and house and home improvement categories are up by 72%…