The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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January 26 Update: Redeem Amex Membership Rewards points for education via HigherEdPoints, AIR MILES Bonus Boom returns February 4 and more! + MORE Jan 27th
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. This update is brought to you by the HSBC +Rewards Mastercard which is currently offering a welcome bonus of up to 30,000 bonus points, no.... More »
Capital One ending its relationship with Costco and Hudson's Bay Oct 30th
While perusing Twitter last night I came across this tweet from Andrew Clarke (who used to do PR at Capital One Canada) announcing the changes coming to the American bank's Canadian operations:I would say this is definitely sad news! More downsizing is not what the Canadian economy needs but u.... More »
Aeroplan Everday Status Qualification is officially here - earn status without flying + MORE May 6th
When the first news of the revamped Aeroplan program came out last August one feature that was being touted was being able to earn elite status from home. Unlike the limited time promotion early on during the pandemic this feature would be a full time everyday benefit of the Aeroplan program. .... More »
Top 5 Small Business Credit Card Sign Up offers for November - These cards provide the best value out of their welcome bonuses + MORE Nov 17th
Here are the Rewards Canada Top 5 Small Business Credit Card Sign Up offers for this month! This is not a 'best' credit card list like our Top Travel Rewards Credit Card rankings but instead a look at cards for small businesses that have very good acquisition (welcome/sign up) offers. As a.... More »
RWRDS Daily Update – June 14, 2023 + MORE Jun 15th
AIR MILES Card Linked offer for Smash & Tess, New Amex Offers statement credit for Tilley and Two more 5x points Cobalt Card Multipliers in Ontario. Check out today's points & miles updates here:
The post RWRDS Daily Update – June 14, 2023 appeared first on Rewards Canada..... More »
Rolling in the Debt: Canada sees a rise in Household Debt
– ratesupermarket.ca
While the value of Canadian homes has decreased for the first time many years, the same cannot be said for Canadian debt levels. This past week, Statistics Canada released its National balance sheet and financial flow accounts looking at the last quarter of 2018, and it shows that the amount Canadians owed relative to their income increased towards the end of the year. The average debt-to-disposable income percentage went to 178.5 per cent (up from 178.3 per cent in the previous quarter). That means for every dollar of disposable income a Canadian household has, they owe $1.79 in credit market debt. The report also dove into the latest housing figures and interest rate trends.
Demand for mortgage loans rising
In the last quarter, Canadian households borrowed $21.1 billion. While the demand for consumer credit and non-mortgage loans did go down, demand for mortgage loans rose $2.3 billion to a total $12.3 billion.
In terms of overall credit market debt, including consumer credit and mortgage and non-mortgage loans, Canadians owe a total of $2…
