All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
RWRDS Daily Update – June 12, 2024: Save up to 40% when you buy WestJet dollars & the partnership between Marriott and Korean Air is ending + MORE Jun 12th
Save up to 40% when you buy WestJet dollars, Marriott Bonvoy Korean Air partnership is being discontinued and Amex Offers statement credit for Circle K My Carwash App. Check out today's points & miles updates here:
The post RWRDS Daily Update – June 12, 2024: Save up to 40% when you buy WestJ.... More »
How to lower your credit card interest rate + MORE May 3rd
While 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 car.... More »
Is it time for American Express to launch an Ultra Premium Marriott Bonvoy card in Canada? + MORE May 23rd
American Express currently offers two Marriott co-brand credit cards for Canadians, the Marriott Bonvoy American Express Card and the Marriott Bonvoy Business American Express Card. Both cards are amazing in their own right, but when you look at other countries that have Marriott co-brand cards, ma.... More »
Aeroplan Availability Alert: Lie flat business class between Vancouver & Halifax for this summer + MORE Jul 4th
Air Canada has upgraded one of their two daily flights between Vancouver and Halifax to an internationally configured Boeing 787-9 aircraft with lie flat business class seats. With the addition of this widebody aircraft has come a lot of Aeroplan award availability! There are days we see 2, 4 or eve.... More »
Moneris says debit, credit outages resolved across Canada - CTV News + MORE Sep 23rd
Moneris says debit, credit outages resolved across Canada CTV NewsMoneris network outage causes widespread disruption of credit, debit payments CBC NewsNetwork outage that affected debit, credit card transactions resolved: Moneris CP24UPDATE: Moneris outage caused pr.... More »
Deferred payments on your mortgage or credit card? How to handle the strain when payments restart this fall
– thestar.com
Hundreds of thousands of Canadians have deferred debt payments since COVID-19 took hold. There are some simple things you can do now to make sure you’re ready when those payments resume.
Back in May BMO announced changes to their no fee BMO CashBack Mastercard and now they have announced similar changes to their no fee BMO AIR MILES Mastercard. There is quite a bit of advance notice for these changes as they won’t take place until November 2020. These changes do only affect the no fee version of BMO’s AIR MILES Mastercard as the BMO AIR MILES World Elite Mastercard will remain unchanged.You can learn about the changes here.The only changes happening to the card are on the everyday earn rates and they actually get better for shopping at AIR MILES partners and slightly worse everywhere else. These are the current earn rates for the card that will be in place until November:- Get 2x the Miles for every $20 spent at participating AIR MILES Partners- Get 1 Mile for every $20 spent everywhere elseThe new earn rates that will kick in in November and be reflected on your December statement are as follows:- Get 3x the Miles for every $25 spent at participating AIR MILES Partners- Get 1 Mile for every $25 spent everywhere elseAs you can see the new earn rates are 3x miles for every $25 at participating AIR MILES partners and this is something to note…Is It Time to Say Goodbye to Your Starter Credit Card?
– ratesupermarket.ca
Nearly nine out of 10 Canadians have a credit card, according to Payments Canada. Not only that, but Canadians are also heavy credit card users, coming in second to South Korea in credit card volume per capita.
The study found that the extraordinary credit card use is fuelled by key factors such as credit card rewards and the expansion of e-commerce in the country.
But where does it all start? According to a global report by TransUnion, 63% of Gen Z consumers, over 18 in Canada, are credit-active. Of that population, nearly all have a credit card.
Yet, the study also suggests new-to-credit consumers often have lower credit limits, which can lead to higher utilization rates and, in turn, negatively impact consumers’ credit scores.
However, the report found that a significant number of Gen Z consumers are in the prime and above credit tiers, generally associated with an acceptable risk level for new credit products.
Further findings indicate that in established credit markets, such as Canada, Gen Z consumers “are clearly interested in — and receiving — cards…
