All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
Are Your Borrowing Habits to Blame? + MORE Feb 27th
It’s no secret that the bargain-basement cost of borrowing in Canada tempts consumers into taking on more debt; it’s a great time to apply for a mortgage, line of credit, and other types of variable-based loans. But that isn’t stopping most of us from racking up our credit cards – the m.... More »
April 4 Update: New Amex Offer for Shangri-La Hotels & Coast Hotels are adding a new hotel in downtown Calgary Apr 4th
Here's your Rewards Canada Daily update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Shangri-La Hotels has returned to Amex Offers. I received this latest offer on on my Platinum Card:Get a statement credit equal to 20% of total qualifying .... More »
18 things that hurt your credit score + MORE Sep 7th
Hard inquiries, missing a payment and maxing out a card hurt your credit score. What else does?.... More »
It's finally here! You can now convert American Express Membership Rewards points to Air France KLM Flying Blue + MORE Aug 20th
For those who saw this several years ago the wait is over. American Express Canada has added a new airline program to their Membership Rewards frequent traveler participants! This is the part of the program where you can convert Membership Rewards points to airline programs and the two most po.... More »
What is an RDSP? + MORE Dec 9th
When Selena Gusikoski and her family first came across promotional materials for the registered disability savings plan (RDSP), they didn’t open one right away. Gusikoski has five siblings, and her youngest brother, Cody, has a disability. The family works closely to make sure Cody can live an ind.... More »
Case Study: Should These Boomers Get a Reverse Mortgage?
– ratesupermarket.ca
Although he always thought his parents were doing ok in retirement, a friend of mine just got a big shock: His folks – now both in their mid-70s – seem to be running short of money.
They’re not visiting the food bank or taking in boarders, but rising costs and fairly modest pensions are starting to squeeze them in ways they never expected. They do, however, own a modest home worth about $290,000.
So, here’s the dilemma: should they sell and invest the proceeds in GICs or even an annuity, or pull some cash out of the house more gradually by taking out a reverse mortgage?
Would a Reverse Mortgage Make Sense?
Although it’s not an ideal solution given the costs, tapping their home’s value through HomEquity Bank’s CHIP program could make sense for this couple. Selling the home and moving elsewhere isn’t really an alternative. Nor is taking out a home equity line of credit since this requires monthly payments — something these folks want to avoid.
With a reverse mortgage loan collection is based on the home value, not on the borrower’s ability to repay…
Nov 25 Update: Earn & Redeem Scene Points at Sport Chek, 500 Bonus Points on Best Western stays, Air Canada Gift Card promo
– RewardsCanada.ca
Cineplex shows us their first steps in becoming a coalition type programs and Best Western’s next systemwide promo is here. News, Tips & Tricks Back in September when we released our Top 5 Travel Rewards Currencies we told you that one program to watch out for was Cineplex’s Scene program. We told you this because it was set to grow beyond earning points primarily at movies and via Scotiabank. Now we know of one of the first forays of Scene building into a coalition type program as they have added Sport Chek to their roster for points earning and redemption. Sport Chek used to be an Air Miles partner not too long ago and it looks like they may have missed being part of the loyalty world so it is nice to see them join up with Scene. You’ll earn 1 scene point for every $1 spent at Sport Chek and be able redeem 1,000 points for a $10 savings which is your typical 1% return if you don’t include any bonuses. Find out more here. It looks like Toronto will once again have direct service to Russia after losing Aeroflot…Strategies for unlocking airline award seats
– creditcards.com
Airline frequent flier programs make it easier to earn miles than to redeem them for tickets. Having the right credit card might just open up a few more seats that can be purchased using points
