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Why tax season is turning into a debt trap for Canadians (and how to avoid it) Apr 2nd
If you typically carry a credit card balance, you’re in good company. The recent Study of the Canadian Consumer (Winter 2026) by Vividata shows that more than 1 in 3 Canadians (36%) usually have a credit card balance from month to month. What’s striking, however, is the study’s finding that 49.... More »
BMO replaces Air Miles with new Blue Rewards program + MORE Jan 28th
BMO Financial Group has announced it will replace Air Miles with a new loyalty rewards program called Blue Rewards this summer. It said the new program will be available for all Canadians through a newly designed Blue Rewards app, and will be integrated into BMO’s existing mobile banking app a.... More »
Match your Air Canada Aeroplan Elite Status to the new Atmos Rewards from Alaska Airlines + MORE Aug 23rd
A reminder that as part of their Mileage Plan program, Alaska Airlines has had a long running elite status match and fast track offer which continues to be offered as part of their new Atmos Rewards program. The offer includes matches from Air Canada Aeroplan, so if you are an Air Canada elite membe.... More »
U of T researchers discover graphics card vulnerability that can lead to full system takeover - University of Toronto + MORE Jun 11th
U of T researchers discover graphics card vulnerability that can lead to full system takeover University of Toronto.... More »
As AI fuels a surge in travel scams, here’s how you can protect yourself May 8th
Mark Kalinowski’s dad fell for a classic travel scam. “Someone called one day and said, ‘Hey, good news, you won a trip to Florida. It’s all paid for. Just pay that $200 upfront holding fee,’” Kalinowski recalled from his home in Calgary. “He’s like, ‘Oh yeah, let me give you my cr.... More »
Loans for Canadians with bad credit: How to improve your score
– moneysense.ca
If you’ve ever looked at your credit card statement and thought, “How am I ever going to pay this off?” you’re not alone. Many Canadians are dealing with high-interest debt and, on top of that, worrying about how to boost their credit score. It can feel especially tough if your credit isn’t great right now.
The reality is that more and more Canadians are falling behind on credit payments. Thanks to the spike in inflation that occurred after the pandemic lockdowns were lifted, the cost of living across the country has ballooned. And credit card interest rates? They’re sitting at around 20% or more, which means even a small balance can turn into a monster rather quickly. In a recent Ratehub.ca survey, 50% of respondents said they had taken out a loan (student, auto or personal), and 41% carried debt over $1,000. (Ratehub.ca and MoneySense.ca are both owned by Ratehub Inc.)
Even if you keep up with your minimum monthly payments, credit card interest charges will eat into your progress; it’s like financial quicksand…
