Fed: Card balances rose by $1.7 billion in December + MORE Feb 8th

All about Canadian credit cards. Learn the ins and outs and get the latest news.
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Four in 10 Canadians Say They are Victims of Identity Theft + MORE Mar 20th

Identity theft is an intricate crime, but its cause is very simple: Ignorance, Lack of Awareness and easy availability of vulnerable information. According to a recent study conducted by Equifax Canada, attempts of credit card fraud have increased by 42 percent over the last two years. Suspected tru.... More »
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April 24 Update: Resources for gaining Elite Status faster, WestJet 20% off promo code to select destinations and more! + MORE Apr 25th

Earlier today we brought you details of the new WestJet Rewards Elite Status Match offer and wanted to remind our readers of some resources we have to help you with other status matches, fast track to status and bonus status points miles and offers. The two sources on our site are our Elite Sta.... More »
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Cineplex's SCENE program changing earn and burn rates on April 17 - significantly devalues current balances and the SCENE Visa Card + MORE Mar 21st

Playing catch up on this news! Some time ago Cineplex announced changes coming to their very popular SCENE program. These changes will take place on April 17, the day after Starbucks' changes, so that will be the week of change!The forthcoming changes to the SCENE program will be seen on both point.... More »
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Credit card debt poll: 56% of balance-carrying cardholders have had debt for at least a year + MORE Feb 21st

A new poll from CreditCards.com revealed 56 percent of credit card holders carrying balances have been doing so for more than a year. However, half of indebted card users say they aren’t particularly stressed out about it..... More »
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Rogers World Elite Mastercard Review + MORE Feb 9th

The Rogers World Elite Mastercard is a youngen in the Canadian market only being released in May of 2018. It is the premium version of the Rogers Platinum Mastercard that was introduced several years prior. That Platinum card underwent several changes over its short life with the .... More »
Credit card balances increased in December, according to the Federal Reserve.

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If you’ve forgotten to pay your annual fee and 30 days have passed, it could be reported to the credit bureaus as late and damage your credit score. After you pay it, ask your issuer to update your account status to “current.”

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Q. I recently got a call from my Kia dealer saying that my 2015 Optima is a popular secondhand car. They want to meet to offer me a great price for the car and a discount on the purchase of a new one with 0% financing. My car has just 32,000 kilometres and it’s fully paid.
I wasn’t looking to change, but I thought that if I could get enough money for it, I would buy a new Optima, and then I would have some money handy. (We are renovating our house and cash is tight.) I intend to go and see what they will offer me. Is this something you recommend or not?
— Thanks, Jack in Montreal
A. You would be better off using a line of credit or some sort of equity loan if you have any borrowing ability left instead of taking on additional auto debt—even if you will be able to pay it off slowly at zero interest. Selling a new car after four years, especially Kia, Hyundai or Fiat-Chrysler models that depreciate quickly, is an expensive proposition. You will lose about 60% of what you paid originally…

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