How to go about securing the best rate and plan for your credit card in Canada.
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February 11 Update: Wait. What? Diners Club actually sent an email? Plus Swoop announces a major domestic expansion + MORE Feb 12th
Here's your Rewards Canada Daily update! Your bear daily dose of loyalty program, credit card and travel news, bonuses, deals and more. This update is brought to you by the HSBC World Elite Mastercard which is currently offering a welcome bonus of up to 100,000 bonus points worth $5.... More »
Earn bonus Aeroplan points for spending $20 or more at Starbucks airport locations + free gifts at Toronto Pearson this weekend Nov 6th
A quick post here to let you know about a new promotion from Aeroplan and Starbucks. Members who have linked accounts can earn 70 bonus Aeroplan points for each spend of $20 at Starbucks Airport locations in Canada. This offer is available until November 14, 2021. Also if you happen to be at T.... More »
September 16 Update: Toronto to Dublin flights for under $400 round trip, Marriott flash sale offering 25% off stays in Canada & Rewards Canada site updates Sep 16th
Here's your Rewards Canada Daily update! Your daily dose (or near daily dose) of loyalty program, credit card and travel news, bonuses, deals and more. Aer Lingus launched a new seat sale today for their flights out of Toronto. You can fly in Economy Class between Toronto and Dublin for .... More »
Walmart Mastercard Reviews: Walmart Rewards World Mastercard and the Walmart Rewards Mastercard Aug 31st
With over 400 locations across Canada, chances are there is a Walmart near you. For many, the big discount retailer represents value and convenience, as a one-stop shop for everyday essentials. Now, Walmart is looking to provide added incentive for frequent shoppers with the launch of its new Walmar.... More »
Earn 10x miles when you shop online at select retailers via the Aeroplan eStore from June 29 to July 5 + MORE Jun 29th
It's time to earn extra miles again for your online shopping! This time Aeroplan is providing 10x the miles when you shop online with specific retailers on specific days. Those days and retailers are as follows:If you do have any shopping in mind with the above retailers make you shop via the eStore.... More »
BMO Preferred Rate Mastercard review
– moneysense.ca
Low interest credit cards are more valuable than cash back or rewards cards for people who tend to run a balance. At the regular rate of around 19.99% that most credit cards charge on unpaid balances, interest can add up fast and cancel out any other rewards you might be generating. With a regular interest rate of 12.99%, the BMO Preferred Rate Mastercard can help keep more of your money in your pocket, and its balance transfer promotion can help you pay down debt from your other, higher-interest, cards. With BMO as the card issuer, the Preferred Rate Mastercard is also ideal for those who prefer keeping all their accounts with a single provider, or who like their card to be affiliated with one of the big banks.
BMO Preferred Rate Mastercard quick facts
Annual fee
$20 (waived for first year)
Annual interest rate
12.99% on purchases and cash advances
Balance transfer offer
3.99% introductory rate for 9 months (after which an interest rate of 12.99% applies)
Income requirement
None specified
Best feature
Low interest rate on purchases and cash advances
Who it’s best for
People who carry a balance and are looking to save on interest
Get more details about the BMO Preferred Rate Mastercard*
5 things to know about the BMO Preferred Rate Mastercard
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April 16 Update: Wyndham Rewards pauses points expiry and extends status, new Amex Offers for Clearly, summary of buy miles/points bonus offers
– RewardsCanada.ca
Wyndham Rewards is one program we haven’t covered yet for their COVID-19 policies. They announced that no points will expiry until September 30 and will extend the status of all current elite tier members to the end of 2021. Since they now have status extensions Wyndham has temporarily stopped matching status from other programs. In terms of actual stays they are offering no fee cancellations and changes for all stays until June 30. Find out more here. Image via WyndhamA new Amex Offers offer is available to select cardmembers. The offer is for Clearly and it is a statement credit equal to 15% of total qualifying purchases up to a maximum of $40 in credits- Personally I received it on the Platinum card. You can find this and most other offers on our Guide to American Express Canada ‘Amex Offers’Image via Amex If you have been studying the in and outs of airline and hotel loyalty programs while staying at home you’ll know that there can be opportunities to pull value out of buying miles and points from the programs…Now is a good time to pay off your student loans and tuition using points and miles via HigherEdPoints
– RewardsCanada.ca
A few weeks ago I was contacted by Suzanne Tyson from HigherEdPoints.com after my post on Shifting your loyalty program strategy to help during these trying and tough financial times and she reminded me about their service and how right now may actually be the best time to use them. In my piece we looked at shifting from a travel focus to a cash or cash equivalent focus in your loyalty programs and that’s what HigherEdPoints is – a cash equivalent.We’ve covered HigherEdPoints in the past on Rewards Canada but if you are unfamiliar with them here is a quick recap.HigherEdPoints is a program that provides students and their families an option for using points towards post-secondary tuition and student loans. They are currently partnered with Aeroplan, CIBC and TD as a redemption option and you can convert points to cash payments towards payment of tuition at over 100 institutions in Canada or towards Canada Student Loans and other provincial student aid programs. To date Canadians have utilized HigherEdPoints to offset over $2 million in student loans and tuition…MBNA True Line Mastercard Review
– moneysense.ca
Nobody wants to carry a credit card balance but large purchases, emergencies or unforeseen expenses can throw an ugly blotch onto even the most organized Canadian’s financial picture. At these times it’s crucial to act fast and have a plan to pay down your debt before it grows out of control. Moving your debt to a low interest card, preferably with a great balance transfer offer, is the first line of defence. With its low 12.99% purchase interest rate and 0% balance transfer for 10 months, could the MBNA True Line Mastercard be the best offer in Canada? We dig in to the details.
Quick Card Facts
MBNA True Line Mastercard*
Annual fee: $0
Welcome offer: 0.00% interest on balance transfers for 10 months (a 3.00% transfer fee applies; minimum $7.50 fee, which is the equivalent of 3.00% on a $250 balance transfer)
Purchase interest rate: 12.99%
Income requirement: None
Best feature: The MBNA balance transfer offer is unusually long, offering a full year interest-free, after which time any remaining debt returns to the card’s low standard annual interest rate of 12…
