All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
June 1 Update: Earn double AAdvantage Miles on all American Airlines flights and Amex Offers spend $10 at Panago get a $5 statement credit + MORE Jun 2nd
American Airlines has brought our their second systemwide bonus AAdvantage Miles to try to stimulate travel during this pandemic. The offer will be better for most than the last 500 bonus miles per flight offer as it is a straight double miles on all eligible mileage earning tickets flown on .... More »
Toronto spending up 8% during Pan Am Games + MORE Aug 1st
TORONTO – A new study suggests people — particularly tourists — spent more money in downtown Toronto and near Pan Am venues during the Games compared with the same period last year.
The study by the payment processing company Moneris is based on debit and credit card transactions between July .... More »
What to do with a windfall + MORE Jul 22nd
Q: I am getting a small windfall soon. The money would pay off the rest of my mortgage which is just under 3%. It would also be enough to pay off my credit card debt, leaving a couple thousand to buy American dollars for my travel account. Should I play it safe and do the above or should I be openi.... More »
How to consolidate debt in Canada + MORE Jul 25th
With the cost of living rising in Canada, we’re seeing more people relying on credit cards to make ends meet. In Q4 of 2024, Canadians topped $124 billion in total credit card debt, and delinquency rates rose even as average monthly card spending declined, according to TransUnion. Credit card debt.... More »
Confusion over Air Miles fine print and Expedia 'glitch': CBC's Marketplace consumer cheat sheet May 21st
CBC's Marketplace rounds up the consumer and health news you need from the week, including Air Miles members unaware of how rewards are collected, major changes to Canada's tobacco laws, and an Expedia "glitch" that prevented travellers from booking a stay at a B.C. lodge..... More »
Almost all business cards require personal guarantee
– creditcards.com
If no one in your organization wants to guarantee a business card, you’ll probably need to look at other options such as reimbursing expenses on personal cards and establishing trade credit with suppliers
How unused credit impacts your credit rating
– moneysense.ca
Q: Can having an unused line of credit for 20 years negatively affect your credit rating? —Don Sutton, Victoria
A: Decoding the human genome is a Grade 6 science fair project compared to decoding the credit rating algorithm. There are many variables that go into it but the first one that matters in your case is credit history: From this perspective it can be a positive that you’ve had a line of credit for such a long time. You haven’t used it, but you also haven’t abused it, so that’s good. The second variable is credit utilization—the ratio of your debt to your available credit. This line of credit shows that you have access to credit but aren’t too close to using it all up, which is also positive. That said, lenders always look at the total picture, says Clifton O’Neal from TransUnion. “There is no history to demonstrate responsible management of this line of credit. If you are maxed out on your other lines of credit, this unused line could be seen as a liability.” What I would do is order your credit report from either TransUnion or Equifax…
A: Decoding the human genome is a Grade 6 science fair project compared to decoding the credit rating algorithm. There are many variables that go into it but the first one that matters in your case is credit history: From this perspective it can be a positive that you’ve had a line of credit for such a long time. You haven’t used it, but you also haven’t abused it, so that’s good. The second variable is credit utilization—the ratio of your debt to your available credit. This line of credit shows that you have access to credit but aren’t too close to using it all up, which is also positive. That said, lenders always look at the total picture, says Clifton O’Neal from TransUnion. “There is no history to demonstrate responsible management of this line of credit. If you are maxed out on your other lines of credit, this unused line could be seen as a liability.” What I would do is order your credit report from either TransUnion or Equifax…
