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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Earning Stories: Completing the Wyndham Rewards Elite Status Match Challenge Jun 22nd

Back in the fall of 2018 Wyndham Rewards launched an elite status match offer to elite members of competing hotel chains. Earlier this year Rewards Canada's contributing road warrior Bill W  decided to try the status match and it's accompanying challenge to keep that status. Seeing that Bill st.... More »
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Before It’s Too Late! Best Credit Card Welcome Offers of July 2019 + MORE Jul 5th

We usually sign up for credit cards because of special features and benefits – from cash-back earning rates to travel perks to balance transfer offers. And one feature that may make or break your decision between one credit card or another is the welcome promotion – a special bonus that adds .... More »
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Mylo Review Jul 1st

It’s very possible that when it comes to reaching your savings goals, nothing is more important than automation. Most people, no matter how hard they try, cannot save consistently if doing so requires a manual process. Mylo is a revolutionary app, the first of its kind in Canada, that not only aut.... More »
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Canadian American Express Cards will lose non-lounge benefits from their Priority Pass Memberships May 29th

If you happen to read any non-Canadian based points and miles blogs you may have seen the news yesterday that Loyalty Lobby broke about changes to Priority Pass memberships issued via American Express in Hong Kong. Fast forward a couple of hours and Gary at View From The Wing had confirmation the sa.... More »
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Before it’s Too Late! Best Credit Card Welcome Offers of August 2019 + MORE Aug 2nd

We usually sign up for credit cards because of special features and benefits – from cash-back earning rates to travel perks to balance transfer offers. And one feature that may make or break your decision between one credit card or another is the welcome promotion – a special bonus that adds .... 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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