How to go about securing the best rate and plan for your credit card in Canada.
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New WestJet Rewards Status Match Offer for Air Canada, Porter & British Airways elite members + MORE Sep 15th
WestJet Rewards has come out with a great new status match offer and challenge to keep that status. Elite members from Air Canada Aeroplan, Porter Airlines VIPorter & British Airways Executive Club can receive automatic matched status in WestJet Rewards until December 15, 2022. Then, to ke.... More »
How to recognize delivery scams during the holidays and Canada Post strike + MORE Dec 3rd
Canadians face a fresh wave of scams as fraudsters seize on the Canada Post strike to try to trick victims out of their cash.
The last few weeks have seen an “exponential” rise in fraud attempts, ranging from phishing emails to deepfake phone calls, says Octavia Howell, chief information secu.... More »
RWRDS Daily Update July 25: Earn up to 125 Bonus AIR MILES at Shell on July 28 & earn bonus Aeroplan points on Air Canada flights out of Hong Kong + MORE Jul 26th
Earn up to 125 Bonus AIR MILES at Shell on July 28 and Earn up to 15,000 bonus Aeroplan points on Air Canada flights out of Hong Kong. Check out today's points & miles updates here:
The post RWRDS Daily Update July 25: Earn up to 125 Bonus AIR MILES at Shell on July 28 & earn bonus Aeropla.... More »
RWRDS Daily Update Nov 20: Earn 3x Stash Rewards Points at Fairways Hotel on the Mountain (near Victoria B.C.) Nov 21st
Earn 3x Stash Rewards points at the Fairways Hotel in Langford, B.C. and Receive 250 bonus Air Canada Aeroplan points when redeeming for a gift card. Check out today's points & miles updates here:
The post RWRDS Daily Update Nov 20: Earn 3x Stash Rewards Points at Fairways Hotel on the Mountain.... More »
The 3 most overrated credit cards in Canada + MORE Oct 1st
Out of the several hundred credit card options in Canada there are perhaps three dozen cards that get the majority of attention. Rightfully so, some of these cards deserve the attention they get – cards like the American Express Cobalt Card and the Scotiabank Passport Visa Infinite Card, j.... 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…
