How to lower your credit card interest rate + MORE May 3rd

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Awesome deal! Earn 6,500 bonus points per night for stays at the Josie Hotel, Autograph Collection in Rossland B.C. + MORE Jun 16th

Offer details:6,500 Bonus Bonvoy Points PER NIGHT for stays at The Josie Hotel, Autograph Collection in Rossland B.C.. Valid for stays until Jul 31, 22 Click here to learn more and to book this offer.Make sure you pay for your stay with the Marriott Bonvoy™ American Express®* Card or the Marriott.... More »

Receive an 80% bonus when you buy Air Canada Aeroplan points + MORE Nov 22nd

Air Canada Aeroplan’s Black Friday buy points promotion is now available. Members can earn up to an 80% bonus when buying points with this promotion until Dec 11, 2024 The 80% bonus offer: Receive up to an 80% bonus when you buy 15,000 or more Air Canada Aeroplan points. Valid until Dec 11, 24.... More »

Air France KLM Flying Blue World Elite Mastercard is officially here + MORE Oct 27th

Soft launched a few weeks ago and covered on the Rewards Canada blog and podcast, the  Air France KLM World Elite MasterCard® powered by Brim Financial is officially here. A press release from Air France KLM Flying Blue marked the hard launch of the card today. If you missed our blog post from a f.... More »

American Express Cobalt Card: 24 new confirmed multiplier locations + MORE Jan 20th

Here’s our next update to our American Express Cobalt Card Confirmed Multiplier Locations list with 24 new locations being added today from across Canada A big thank you to the RWRDS Canada community for providing details on thousands of locations where you can use the American Express Cobalt Card.... More »

The best GIC rates in Canada for 2025 Mar 24th

GIC comparison tool Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance. Why trust us MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
How to lower your credit card interest rateWhile you should strive to pay your credit card bill in full every time, let’s face it: sometimes life gets in the way. An emergency, an unexpected expense or even lingering holiday debt can throw your best credit card practices into disarray and leave you carrying a balance.

Typical credit cards charge an annual interest rate (AIR) of 19.99% or higher, which is a steep price to pay for a balance carried on a card. And compound interest—interest charged on your interest—can have a snowball effect on your outstanding debt. Here’s how to avoid high interest charges on your credit cards. 

Credit card interest: What’s the big deal?

If you never miss a payment or carry a balance on your credit card, the card’s interest rate won’t affect you. But if you occasionally need extra time to pay down your debt, the interest rate on your credit card is a big—and compounding—deal.

To better understand compound interest, let’s look at a simple example. Imagine you owe $10 and your interest rate is 20% per month…

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A trio of new Amex Offers released today from Wayfair, Hello Fresh and Canlan SportsThree new Amex Offers were revealed today  for using your American Express card at Hello Fresh, Wayfair and Canlan Sports. Personally I received both the Hello Fresh and Canlan offers on my Platinum Card and received the Wayfair offer on my Cobalt Card. Here are the offers:Hello FreshSpend at least $70 in qualifying meal kit subscription purchases using your registered Card at www.hellofresh.ca/amex7 by 02/08/2022 and earn a one-time $20 statement credit. Registration cap applies. Terms apply. You can cancel your subscription at any time. Wayfair:Spend at least $75 in qualifying purchases using your registered Card at www.wayfair.ca/amex by 30/06/2022 and earn a one-time $15 statement credit. Registration cap applies. Terms apply.Canlan Sports:Spend at least $300 in qualifying purchases using your registered Card at participating Canlan Sports™ location(s) or at www.canlansports.com by 30/09/2022 and earn a one-time $75 statement credit. Registration cap applies. Terms apply.Simply log in to your Amex account or go onto the Amex app to see if these offers have been sent to you and to register for them…

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New Visa Infinite Privilege dining & stay offers, Air Canada increases some checked baggage fees on Aeroplan & paid tickets and Aeroplan extends generous flight reward change policyHere’s your Rewards Canada Daily update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Today’s update is brought to you by the HSBC High Rate Savings Account with which you can enjoy a total annual interest rate of up to 2.65% on new deposits± Click here to learn more about this offer  A new batch of Visa Infinite Privilege dining and stay offers were released this month. This time the new dining offers are in Halifax, Calgary Toronto an more. Here are just some of the new offers available exclusively to these Ultra Premium credit cards:  Bar Sofia, Halifax Thursday Jun 9, 6:30 p.m. $200 per person† In-Person Dinner (Includes food, wine, cocktail, and gratuity; taxes extra.)Stay 3 nights or more at The Towers at Lotte New York Palace and enjoy every 3rd night free.Calcutta Cricket Club, Calgary Tuesday Jun 14 Wednesday Jun 15 Thursday Jun 16 $55 per person† Prix Fixe Menu (Includes menu as noted, gratuity & ticketing fees; taxes extra…

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