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Latest News
AIR MILES Mega Miles was set to launch this week but has now been postponed + MORE Mar 18th
The ever popular AIR MILES Mega Miles event was slated to start tomorrow but it has now been postponed in light of COVID-19 situation in Canada. AIR MILES reached out to us this morning and provided the following:"As a result of the developments surrounding COVID-19, we have decided to postpone the .... More »
Amazing Race Canada payment card: The no fee BMO CashBack Mastercard - is it any good? + MORE Jul 25th
If you are The Amazing Race Canada fans like the Rewards Canada family are, you'll have seen on the newest season of the Amazing Race Canada the teams have new payment cards. As we have seen in past seasons when Interac, Scotiabank and BMO sponsored the race, this season we see BMO return as the pay.... More »
What to do about your debt after the interest rate hike + MORE Jan 18th
TORONTO — Many consumers will soon find their debt loads heavier now that Canada’s central bank and the country’s biggest commercial lenders have raised their benchmark rates by one-quarter percentage point.
The country’s biggest banks raised their prime rates after the Bank of C.... More »
AIR MILES Shops: Earn 150 Bonus Miles sitewide for $100+ spend until December 17 + MORE Dec 7th
We are now in the final stretch for Christmas and Holiday shopping and if you still looking for last minute gifts you can score yourself some bonus AIR MILES for shopping online via AIR MILES Shops. Collectors will earn 150 AIR MILES Bonus Miles when spending $100 or more in a single transaction bef.... More »
Can you be too old for a credit card? + MORE Jul 17th
By law, banks cannot consider age when they make a credit decision. However, other factors can often impact senior citizens.... More »
June 10 Update: Scotiabank More Rewards Visa added to comparison charts, Air Canada & WestJet resume Ft. McMurray flights
– RewardsCanada.ca
News, Tips & Tricks Back on May 30th we let you know that the Scotiabank More Rewards Visa Card was now available. We have finally got around to adding the card to our comparison charts on the main Rewards Canada site. You can see how it compares to others on these charts: Canadian Travel Credit Card Comparison: All Travel Rewards Credit Cards Canadian Travel Credit Card Comparison: Travel Points Credit CardsThe chart does not show you however that you can earn up to a 2.54% return with this card! Both Air Canada and WestJet resumed flights to and from fire ravaged Ft. McMurray today. These represent the first commercial flights to the city in more than a month. (Source Air Canada & WestJet) Posts since our last update: Current Bonus Mile Offers for flying within Canada or from Canada to the rest of the World Another reminder for you about the one page on the main Rewards Canada site that sees a good amount of… Travel DealsFly British Airways between Toronto and London for as low as $693 all in…How mortgage lending has changed over the years
– moneysense.ca
OTTAWA – The federal government has moved several times in recent years to restrict mortgage lending. Here’s a quick look at some of the changes Ottawa has made:
Feb. 15, 2016: The minimum down payment for new government-backed insured mortgages increases from five per cent to 10 per cent for the portion of the house price over $500,000.
Understanding how mortgage payments work »
July 9, 2012: The maximum amortization period for new government-backed insured mortgages drops to 25 years from 30 years. Ottawa lowers the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent and stops offering insurance on mortgages for homes worth more than $1 million.
April 18, 2011: Ottawa withdraws government insurance backing on lines of credit secured by homes, such as home equity lines of credit.
March 18, 2011: The maximum amortization period for government-backed insured mortgages is cut to 30 years from 35 years and the maximum amount Canadians can borrow in refinancing their mortgages is reduced to 85 per cent from 90 per cent of the value of their homes…
Feb. 15, 2016: The minimum down payment for new government-backed insured mortgages increases from five per cent to 10 per cent for the portion of the house price over $500,000.
Understanding how mortgage payments work »
July 9, 2012: The maximum amortization period for new government-backed insured mortgages drops to 25 years from 30 years. Ottawa lowers the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent and stops offering insurance on mortgages for homes worth more than $1 million.
April 18, 2011: Ottawa withdraws government insurance backing on lines of credit secured by homes, such as home equity lines of credit.
March 18, 2011: The maximum amortization period for government-backed insured mortgages is cut to 30 years from 35 years and the maximum amount Canadians can borrow in refinancing their mortgages is reduced to 85 per cent from 90 per cent of the value of their homes…
