The “Big Five” Canadian banks offer credit cards and 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). Did you know that there are many other options?
Latest News
Last day to jump on the 100,000 point offer from HSBC for their World Elite Mastercard! That's $500 towards any travel or $300 cash back + MORE Dec 28th
HSBC's biggest and best offer for the HSBC World Elite Mastercard that is also one of the best ever bonuses ever seen in Canada (definitely in the Top 5 ever in terms of value) ends tonight! As we already mentioned just under two weeks we know for sure the offer is not being extended. The off.... More »
A two-step plan for building young credit + MORE Mar 2nd
Keeping balances low and adding new credit strategically can help build up young credit.... More »
Credit card firms to trim merchant fees, but retailers group 'underwhelmed' + MORE Aug 10th
The federal government says that credit card companies have agreed to trim the fees they charge the country's businesses by 10 basis points..... More »
Credit card offers: Why you're not getting them in the mail anymore Nov 20th
As issuers move to cheaper, smarter alternatives to direct mail, you still have options to get access to the best credit card offers..... More »
New record high welcome bonuses on Tangerine Mastercards - 15% cash back for the first 2 months + MORE Oct 7th
Tangerine just launched what could be considered the bigger cash back bonus ever - percent wise that is! Both the Tangerine Money-Back Credit Card and the Tangerine World Mastercard have now eclipsed the world of 10% cash back welcome bonuses and have gone for the gusto with an awe.... More »
WestJet Rewards: Double WestJet Dollars on select routes in Canada
– RewardsCanada.ca
WestJet has decided to match last week’s Air Canada targeted offer of Double Miles with a non-targeted offer for select flights within Canada. An extremely smart move in our opinion as there are Aeroplan members who were not targeted to earn Double Aeroplan Miles and some just may be swayed to move their upcoming travels to WestJet to earn Double WestJet dollars! I see this especially true for the price sensitive and those who will not reach elite status on Air Canada this year or already have status and can move flights away from AC as they don’t need the status segments or miles.Offer DetailsDouble WestJet Dollars when you fly on select WestJet flights within Canada. Register Online (Registration is required) Register and book by Apr 15 for travel until Jun 15, 15 Want to earn even more WestJet Dollars? Check out our Bonus WestJet Dollars page for other bonuses! Mar 23 Update: Plastiq 1% offer with MasterCard, one day left in our eSTORE contest, earn 100,000+ QMiles with The Qatar Airways Globetrotter
– RewardsCanada.ca
Welcome to another week of more miles, more points and more rewards! News, Tips & TricksRewards Canada reader Andrew J advises us that Plastiq.com, the online portal for paying bills with a credit card that normally don’t take credit cards apparently is running an offer that if you pay with a MasterCard card you will only pay a 1% transaction fee instead of the regular 2.5%. We couldn’t find any of the details of the promotion on Plastiq’s website but now is the time to take your MasterCard that earns more than 1% (Diners Club MasterCard, BMO World Elite, mbna Rewards World Elite etc.) and use it to pay items like your income taxes, property taxes and utlitly bills as the rewards you earn will be worth more than the 1% fee.We did a quick test and found that the 1% offer appears to be only on select payees. For example we found Direct Energy to be 1.99% while the CRA was 1%. Please do your due diligence before paying bills to see if it is worth it!Screenshot of paying your taxes to the CRA, only a 1% service chargeOf course, this service isn’t of much use if the transaction fee is higher than what you earn on your credit card as you’ll lose out on your return unless you can maximize a reward like an Aeroplan (or other FFP) business/first class ticket or a high end Starwood Hotels stay…As American Express faces bruising competition, some cardholders can leave home without it
– canadianbusiness.com
NEW YORK, N.Y. – For decades, American Express was the undisputed credit card of choice among corporate road warriors, the wealthy and the well-travelled, who lived by the company’s slogan, “Don’t leave home without it.”
But changing consumer habits, extremely aggressive competition and increased pushback from its merchants are putting heavy pressure on AmEx.
Rivals are trying to steal away business and are succeeding in some cases. Costco, for example, is ending its 15-year relationship with AmEx and defecting to Citigroup and Visa starting next March. And airlines that used to give VIP lounge access to AmEx cardholders have been switching in recent years to other credit card companies.
Compounding its troubles, AmEx recently lost a major government antitrust lawsuit, a verdict that could damage its ability to compete.
“The competitive environment for AmEx is very challenging,” said Jason Arnold, a Wall Street analyst who covers AmEx for RBS Securities…
But changing consumer habits, extremely aggressive competition and increased pushback from its merchants are putting heavy pressure on AmEx.
Rivals are trying to steal away business and are succeeding in some cases. Costco, for example, is ending its 15-year relationship with AmEx and defecting to Citigroup and Visa starting next March. And airlines that used to give VIP lounge access to AmEx cardholders have been switching in recent years to other credit card companies.
Compounding its troubles, AmEx recently lost a major government antitrust lawsuit, a verdict that could damage its ability to compete.
“The competitive environment for AmEx is very challenging,” said Jason Arnold, a Wall Street analyst who covers AmEx for RBS Securities…
New business shouldn't inherit partner's old debt
– creditcards.com
Your new business partner’s old debt shouldn’t be inherited unless expressly assumed, but have a lawyer check it and be aware it may limit your new venture’s access to credit
Consumer protection watchdog could get more bite with new code
– moneysense.ca
FCAC Commissioner Lucie Tedesco (The Canadian Press)OTTAWA – The woman who is proud to be called the country’s consumer-protection czar remembers her first encounter years ago with the questionable actions of a debt-collection agency.
Lucie Tedesco, a law student at the time, received a phone call from the debt collector after she missed a minimum payment on a retailer’s credit card. They threatened, she recalled, to garnish her wages if she didn’t pay up.
But thanks to her studies, Tedesco said she knew full well they needed a court order to pluck cash from her paycheque. So she called their bluff.
The experience also opened her eyes.
“That really made me angry and I saw that there were perhaps practices out there that were not benefiting consumers,” said Tedesco, who became commissioner of the Financial Consumer Agency of Canada in September 2013.
Not only is the agency a key piece of the Harper government’s consumer agenda, Tedesco’s already-powerful office could become even stronger once the Conservatives introduce a long-promised comprehensive financial consumer code that would replace the existing patchwork of legislation and regulations…
