All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
Canada’s best credit cards for online shopping + MORE Jun 1st
In Canada, online shopping accounts for purchases in the billions annually, and it’s easy to see why. Instead of pounding the pavement, braving fitting rooms or standing in lines, online shoppers make their purchases with a few clicks and taps. Plus, who doesn’t like getting mail?
When it comes .... More »
Earn up to 15,000 bonus Aeroplan points on Air Canada flights between Canada and Japan + MORE Oct 20th
Air Canada is back with another Aeroplan bonus points promotion for flights to Japan. Members can earn up to 15,000 bonus points for flights that are booked in the next week for travel from late fall right through to late spring. The up to 15,000 bonus points offer: Earn up to 15,000 bonus Aeroplan .... More »
Sex addiction, credit card debt often go together + MORE Nov 7th
Sex addicts often use secret credit cards or pad business accounts to hide trysts, online porn purchases experts say..... More »
RWRDS Daily Update June 26: MBNA Rewards World Elite Mastercard offering 5x points at Costco & three new Amex Offers + MORE Jun 26th
MBNA Rewards World Elite Mastercard holders being offered 5x points on wholesale club purchases and New Amex Offers statement credits for Harry Rosen, Turo & Uniqlo. Check out today's points & miles updates here:
The post RWRDS Daily Update June 26: MBNA Rewards World Elite Mastercard offe.... More »
This Week in RWRDS: June 8 – 14, 2024 Jun 15th
This week we look at a rare money making hotel bonus points offer, Porter Airlines’ Atlantic Canada flight bonus, Aeroplan’s Hotel points rebate and more in our weekly credit card and loyalty rewards newscast! Watch This Week in RWRDS here: Listen to This Week in RWRDS here: Topics of di.... More »
Introducing the BMO CashBack World Elite MasterCard and BMO CashBack World MasterCard
– RewardsCanada.ca
Last week we let you know about the new BMO AIR MILES World Elite MasterCard that was officially released yesterday but that’s not the only card BMO just announced. They are also introducing a new Cash Back card, the BMO CashBack World Elite MasterCard.Here are the basics of this new entrant to the Cash back credit card space:- 1.75% Cash back on all purchases- 8 day travel and medical protection*- Roadside Assistance*- Purchase Protection Plus and Extended Warranty Plus*- $120 annual fee however the first year is free if you apply by August 31A quick look at this card puts it at the higher end of the cash back spectrum and the earning is simple, no tier bonuses etc. A straight 1.75% back on all purchases. This puts the card at .25% disadvantage when compared to its BMO Rewards World Elite MasterCard companion but that card’s 2% back is strictly limited to travel redemptions where with this card you have that cash back to spend on anything. And like most Cash Back cards the benefits are limited although it is nice to see the 8 day emergency medical insurance included… A study released today by the Bank of Canada shows that less than half of our purchases are made in cash, while payments by credit card and even cellphones are growing quickly.
Getting a mortgage? Pay debts, go easy on charging
– creditcards.com
The time between getting preapproved for a mortgage and the closing date on your home is crucial for your credit, so don’t blow it by charging too much
High-income Canadians using cash the least: Bank of Canada
– theglobeandmail.com
Central bank researchers issue report on use of bank notes versus credit and debit
Canadians pay with cash less than half the time
– moneysense.ca
(Stuart Dee/Getty Images)OTTAWA – Canadians are now using cash for fewer than half of their transactions, a survey done for the Bank of Canada suggests.
Instead, shoppers are increasingly reaching for their credit card and new technology that allows customers to just tap their card and pay.
The research by the central bank’s Ben Fung, Kim Huynh and Gerald Stuber was included as part of the spring edition of the Bank of Canada Review on Thursday.
“Innovation in retail point-of-sale and online payment systems continues to be significant, particularly in enhancing the speed and convenience of the payment process for lower-value transactions, an area where cash still dominates,” the article authors wrote.
“Contactless credit cards, in particular, are seeing strong growth in use, while Interac debit cards with the tap-and-go feature are at a relatively early stage of market development.”
According to a 2013 method-of-payment survey, credit card use increased to nearly 31 per cent compared with just over 19 per cent in 2009…
