All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
Credit Card Review: HSBC World Elite Mastercard Aug 27th
The HSBC World Elite Mastercard is a relatively new card in the Canadian market. This is not their 'Premier World Elite' which is meant for people who bank at HSBC but rather this card is for any Canadian and it is essentially the same as the Premier version. When HSBC la.... More »
Credit Card Review: American Express Cobalt™ Card + MORE Dec 19th
When the American Express Cobalt Card launched back in 2017 it changed the credit card rewards market as we know it. The card ushered in a new era of accelerated earn rates for lifestyle spending that now sees Canadians being rewarded with more points than ever on many credit cards. Despite valia.... More »
This Week in RWRDS: January 20 – 26, 2024 Jan 27th
This week we look at the return of the best ever bonus on the RBC Avion Visa cards, reveal Marriott’s new hotel openings in Canada for 2024 and more in our weekly credit card and loyalty rewards newscast! Watch This Week in RWRDS here: Listen to This Week in RWRDS here: Topics of discussion: I.... More »
The HSBC World Elite Mastercard will undergo some changes in February + MORE Nov 1st
The best travel rewards Mastercard in Canada will be undergoing some changes in February. The no foreign transaction fee HSBC World Elite® Mastercard® has been making inroads in our market since its launch in 2017 and will now see its first major revamp. The news is both good and not so good ̵.... More »
The Best Small Business Credit Card Welcome Bonus Offers for January 2024 + MORE Jan 9th
Here are the Rewards Canada Top 5 Small Business Credit Card Sign Up offers for January This is not a ‘best’ credit card list like our recently released Top Travel Rewards Credit Card rankings but a look at small business cards that have the best welcome bonus offers. As always when choo.... More »
My daughter is 60, divorced, owns a house, perhaps $800,000 house value. She has a small mortgage and no savings of any kind. She lives on a line of credit and a credit card. Her only income is about $300 to $400 monthly CPP.
She is wondering how best to manage. Should she sell now and rent for a short term?
She is worried about investing since CDIC guarantees only up to $100,000.
The next five years will be rough until OAS & GIS kick in. Even then, she will be short of money. I have funds but may need that to cover possible care for myself so I cannot help her now. But if I don’t need that money, she will inherit and should be okay in her later years.
—Sandy
(Letter was edited for length.)
Loaning money to family
I’m sorry to hear you have been stressing about your daughter’s financial situation, Joan. I guess you always worry about your kids, even when they are 60! I do think there are several potential solutions to her problem.
I assume she has already explored increasing her line of credit, otherwise she would not be using her credit cards…
Koho prepaid switches to Mastercard from Visa and JetBlue nixes Vancouver to Boston prior to next month’s launch
– RewardsCanada.ca
Here’s your Rewards Canada Daily update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Today’s update is brought to you by the HSBC High Rate Savings Account with which you can enjoy a total annual interest rate of up to 2.65% on new deposits± Click here to learn more about this offer Koho which provides prepaid credit cards has switched to issuing Mastercard cards as of this week instead of Visa cards. This means you’ll be able use it at places such as Costco. New users who signup for a KOHO account will be receiving a Mastercard from this point forward. Existing KOHO users will have the option to switch their existing card to a Mastercard before October 2022. A new KOHO Physical Mastercard will be sent to the user within 10 business days once they receive the requests. Users will still be able to utilize all of the same features available in the KOHO mobile app. Click here to learn more about Koho.— It appears that JetBlue will not be going ahead with their Vancouver to Boston route that was set to start next month…
Coast Hotels Coast Rewards is once again offering a bonus when converting points to Aeroplan. Thanks to David D. for alerting us to this latest version of the offer that runs until May 30. Coast Rewards members can convert points between now and the 30th and receive 3x the Aeroplan points. Offer details:3x Aeroplan Points when you convert Coast Hotels Coast Rewards points to Air Canada Aeroplan points. Valid until May 30, 22. Log in to your Coast Rewards account for more detailsHere are some more Aeroplan offers to check out:100% bonus Aeroplan SQM, SQS, and SQD on Air Canada-operated flights to Europe in Economy Standard fare or higher when members book with cash. Valid for flights until Sep 30, 22. Click here for more details Earn up to 105,000 Aeroplan points† with the TD® Aeroplan® Visa Infinite Privilege* Card. Conditions Apply. Must apply online by May 29, 2022.Receive up to a 85% bonus when buy or gift Aeroplan points online. Valid until May 20, 22 Buy points here…Canada’s best credit cards for travel insurance 2022
– moneysense.ca
If you’re planning to travel this summer, you’ll need travel insurance if you plan to go out of province. These days, many of the credit cards available include some kind of travel insurance. While that’s a great selling feature for these cards, savvy Canadians know that not all insurance is created equal. There are a few kinds of coverage you actually need when travelling, like emergency medical and trip cancellation or interruption. Theft or baggage loss protection is a useful bonus, too. As to which travel credit card offers the right combination of features for you, that will depend largely on the type of traveller you are and the perks you’re most likely to use. For instance, if you’re a frequent flyer, you might want a card that offers an extensive travel insurance package, plus a great points system or lounge access. If you’re into road trips, a card with travel insurance and roadside assistance might be more your speed. We’ve rounded up the cards that offer great travel insurance for any type of globe trotter…
