Learn more about Canada’s top banks rates, rules and the latest news – read on!
Canadians are using social distancing to prevent the spread of COVID-19. As a result, banks have closed their doors or reduced their hours of operation. Many Canadians are turning to technology to manage their finances instead. Naturally, this has caused a spike in the use of online and mobile bank.... More »
One of the most useful personal finance tools is your credit card. You can use it to buy products and services online, set up automatic payments, finance larger purchases, and start to build your credit history. However, you must use your credit card responsibly. While effectively managing your deb.... More »
When the COVID-19 pandemic swept across North America in early 2020, it created a wave of income loss that impacted people from all walks of life. While some individuals have been hit harder than others, it’s difficult to find a group or industry that hasn’t been affected. A small segment of the.... More »
Your credit score can affect your ability to get a credit card, personal loan, or low-interest mortgage. Everyone knows you should pay your bills on time to keep your credit score healthy. However, some aspects of credit scores can be confusing. Here, we’re busting seven common myths about your c.... More »
Travel came to a screeching halt in the second week of March. Since then, travel programs and third-party providers have been working with members to reimburse rewards and cancel itineraries. Cardholders are without a choice but to postpone their upcoming vacations indefinitely. But that doesn’t leave them without options for their travel rewards balances.
Each loyalty program will offer a different selection of redemption options. Some travel rewards credit cards have very flexible catalogues. But, is it best to save your rewards balance or cash in your points?
Flexible Points Options
While travel is typically the best redemption value for your points, there are often alternative ways for you to spend your rewards. To calculate the redemption value of your different options, divide the monetary price by the point value. Doing the math can help you make an educated shopping decision.
For example, with Scotia Rewards points, the minimum redemption value for travel is 5,000 (a $50 value)…