All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
The Ultimate No Fee Cash Back Credit Card Portfolio + MORE Jun 9th
In this feature of Rewards Canada' Ultimate Credit Card Portfolios we look at the ultimate one for earning cash back without paying annual fees on any of the cards. We have always recommended that you should carry a Visa, a Mastercard and an American Express card in your wallet and that's what th.... More »
AIR MILES card linked offers are here - earn more miles with ANY Canadian Mastercard + MORE Nov 3rd
When the revamped AIR MILES program was revealed in October one of the new features we were told about was card linked offers. Those card linked offers officially launched yesterday and represent a new earn method in the AIR MILES program. If you are familiar apps like Drop, Amplii etc. then you'll .... More »
'We've got to change this industry, before more consumers get hurt,' senators tell former Equifax CEO + MORE Oct 4th
Senators expressed bewilderment Wednesday that credit reporting company Equifax, under siege after a data breach affecting more than 145 million people, has received a $7.25 million contract with the IRS to provide taxpayer and personal identity verification services..... More »
Podcast Episode 107: Canada’s Favourite Credit Cards & Loyalty Programs for 2023 + MORE Oct 26th
In this episode we take a look at and dissect our Canada’s Choice 2023 awards! These are our annual awards where Canadians vote for their favourite credit cards and loyalty programs. And that they did with a record turn out of over 82,000 votes! Click Here to listen to the podcast (mp3) You ca.... More »
30% transfer bonus from American Express to Marriott Bonvoy until September 30 + MORE Sep 1st
IT”S BACK!! American Express’ bonus for transferring Membership Rewards points to Marriott Bonvoy has returned for the month of September! The 30% Transfer Bonus From now until September 30, any one with an American Express card that earns Membership Rewards points can choose to transfer the.... More »
Household debt climbs to 167% of disposable income
– moneysense.ca
(JGI/Jamie Grill)TORONTO – Canadian household debt hit a record high during the third quarter, as it grew at a faster pace than disposable income, according to the latest figures from Statistics Canada.
The total amount of credit market debt — which includes mortgages, non-mortgage loans and consumer credit — held by Canadian households increased to 162.6 per cent of disposable income during the quarter, from a revised 161.5 per cent in the previous quarter.
That means Canadians owed about $1.63 for every dollar of disposable income in the third quarter.
The previous record of 161.7 per cent was set in the third quarter of 2013.
RBC economist Laura Cooper said the high ratio of debt relative to net worth will reinforce the Bank of Canada’s cautious approach to raising its benchmark interest rate.
“Consumers have amassed record levels of outstanding debt as a protracted period of depressed borrowing rates has sustained buoyant housing market activity,” Cooper said in a note…
Campus card agreements continue shift from credit to debit
– creditcards.com
Special deals to market credit cards on campuses are declining, but other types of plastic — which face less disclosure — are gaining, regulator says
