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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Great new offer for the TD Aeroplan Visa Infinite Card - Up to 30,000 bonus miles & first year free + MORE Feb 15th

 TD has just released one of the richest offers to date for their TD Aeroplan Visa Infinite Card! The new offer that is available here and only some other select digital channels (it will go live with TD in March) provides an awesome welcome bonus of up to 30,000 Aeroplan Miles and a first year.... More »

Home renovation: More credit cards are rewarding home-related purchases Feb 19th

A growing number of credit cards now cater to homeowners and interior design enthusiasts by offering significant rewards in exchange for home-related spending..... More »

Swipe fees: Visa, Mastercard to charge merchants more for card transactions + MORE Feb 16th

Visa and Mastercard are planning to raise swipe fees in April, according to media reports. It could result in higher prices for consumers..... More »
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Meridian Ushers in New Way for Canadians to Bank with Motusbank + MORE Feb 14th

Meridian holds the position as the biggest credit union in Ontario, and the third biggest country-wide. The company recently created a new subsidiary named Motusbank, a full-service digital bank that’s set to change the way Canadians handle their finances. What’s Different About Motusba.... 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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