All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
Help, I'm an unauthorized authorized user + MORE Mar 13th
No one has a right to make you an authorized user on their card, since it can badly damage your credit.... More »
November 4 Update: New RBC Rewards Visa+ Card and CIBC Aventura Visa Infinite now first year free for Primary & Supplementary cardholders! + MORE Nov 4th
News, Tips & Tricks Don't forget to enter week 2 of the Rewards Canada 15th Anniversary contest! You could win a $200 American Express Gift Card! Enter here. The RBC Rewards Visa Gold has been discontinued by the bank. It has now been replaced by the RBC Rewards Visa+ card. We'll have more det.... More »
Canadian discovers genetic mutation linked to severe MS in two families - Toronto Star + MORE Jun 1st
Toronto StarCanadian discovers genetic mutation linked to severe MS in two familiesToronto StarDessa Sadovnick and her team discover a single mutation linked to severe MS in seven members of two Canadian families. University of British Columbia researchers Dessa Sadovnick and Carles Vilarino-Guell r.... More »
Using your credit card rewards to book a free cruise + MORE Mar 30th
Before shelling out hundreds of dollars for a cruise, check to see if your credit card rewards can help offset the cost.... More »
December 7 Update: Done with AIR MILES Part 2, Fairmont Hotels daily credit offer and 6 new Air Canada routes + MORE Dec 8th
News, Tips & TricksAir Canada is launching 6 new routes between Canada and the U.S. for 2017. These will all be operated by Air Canada Express. (Source Air Canada)beVancouver is once again offering up American Express Gift Cards for booking your Vancouver hotels via their site! Valid for stays u.... More »
The Canadian Debt-to-Income Ratio Hits 165%
– ratesupermarket.ca
The latest household debt stats have been released by Statistics Canada – and they reveal a trend of persistent consumer and mortgage borrowing across the nation. The average debt-to-income ratio hit 165 per cent in the fourth quarter of 2015, up from 164 per cent in the previous quarter. That means the average Canadian now owes $1.65 for every dollar they earn after taxes.
Total debt, including consumer credit and non-mortgage and mortgage-based loans, grew 1.2 per cent to $1.923 trillion at the end of last year – but a whopping 1.262 trillion of that can be attributed to mortgages.
This follows a report from TransUnion that finds the average Canadian credit card balance has hit $3,610 – a three-year high.
Cheap Borrowing to Blame
It’s not surprising debt – and particularly mortgage borrowing – continues to grow in Canada; consumers have been spurred to borrow by the central bank for several years, as record low interest rates have been the norm. The Bank of Canada (BoC) cut the cost of borrowing to 0…
March 14 Update: New offer on the table for Starwood hotels, will Marriott lose out? New WestJet Routes and a couple of AIR MILES bonus
– RewardsCanada.ca
Potentially exciting news in the hotel world… News, Tips & Tricks Looks likes there may be a challenger in the Marriott takeover of Starwood Hotels. News has come out today that there is another offer on the table from a Chinese bidder for Starwood. It is too early to tell what will happen but if this new bid wins out we may not see the end of Starwood Preferred Guest in the next couple of years. Definitely news to watch over the next few months! (Source View from the Wing)WestJet has announced new summer seasonal flights between Vancouver and Halfax as well as Winnipeg and Halifax. (Source WestJet)Couple of AIR MILES bonus rewards miles coupons for ya: Rexall 40 bonus miles when you spend $30+ and Safeway/Sobeys 100 bonus miles when you spend $100+. Both are good to March 17. Posts since our last update:N/A Bonus Offers airBaltic PINS (on FrequentFlyerBonuses.com only)- Triple PINS at participating HERTZ locations worldwide. More… Book by Mar 21 for rentals until Apr 29, 16American AAdvantage- Quadruple AAdvantage Miles on rentals of compact or larger vehicles at participating Alamo locations in the United States and Canada…
