How to go about securing the best rate and plan for your credit card in Canada.
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RC23 Spotlight: Air Canada Aeroplan (Prizes: 3 x 23,000 Aeroplan points) + MORE Sep 13th
Air Canad Aeroplan is the next RC23 RWRDS Canada’s 23rd Anniversary Contest sponsor that we are giving the spotlight to! As one of the oldest and largest programs in Canada, Air Canada Aeroplan is well known to Canadians! The program has received a lot of the spotlight since being revamped nearly .... More »
CIBC Holiday Offers: 60,000 points on Aventura cards and $350 on Dividend Cards (In-branch only) Dec 8th
CIBC has extended their amazing welcome bonuses for several of their Aventura and Dividend Visa cards through the holiday season! When you apply for the cards in branch using the promo codes listed below you can earn up to 60,000 points on the Aventura cards and 10% cash back on up to $3,500 in spen.... More »
Auto loans for newcomers—questions to ask when buying your first car in Canada + MORE Dec 20th
Buying a car in Canada can be a daunting task for newcomers to the country, facing unique challenges like a lack of credit history, an unfamiliar selection of vehicles, new regulations, and new financing and insurance options. Below, we’ll dive into the important steps, tips and pitfalls to help n.... More »
New accelerated earn rates for TD Cash Back and TD Rewards credit cards + MORE Jan 21st
Here is our third and final post covering all of the changes coming out of TD today for most of their credit cards! This post will look at the additional accelerated earn rates being added to the TD Cash Back Visa, TD Cash Back Visa Infinite Card, TD Platinum Travel Visa Card and TD Rewards [….... More »
RWRDS Daily Update Feb 13: RBC extends the inactivity rule for the Avion Select program + MORE Feb 13th
RBC extends the inactivity rule for the Avion Select program, BermudAir launching flights between Montreal and Bermuda & earn 25 bonus Aeroplan points at Starbucks. Check out today's points & miles updates here:
The post RWRDS Daily Update Feb 13: RBC extends the inactivity rule for the Av.... More »
RWRDS Daily Update – September 21, 2023
– RewardsCanada.ca
Discounted free night rewards at two Choice Hotels properties in Canada, WestJet adding Victoria-Las Vegas flights, Earn bonus points or a statement credit with new Amex Offers for Hugo Boss. Check out today’s points & miles updates here:
The post RWRDS Daily Update – September 21, 2023 appeared first on Rewards Canada.
The post RWRDS Daily Update – September 21, 2023 appeared first on Rewards Canada.
How much credit card debt does the average Canadian have?
– moneysense.ca
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these forces are adding pressure to those with variable-rate loans and mortgages. Unsurprisingly, many Canadians are using their credit cards to charge their expenses.
How much debt does the average Canadian carry?
The average credit card balance for Canadians in the first quarter of 2023 was $3,909, according to Transunion. And that is up from average monthly credit card spend of almost $2,447 in the third quarter of 2022, which is above the 17.3% from same time in 2021 and up 21.8% in 2019, according to Equifax. And from another report, Canadian consumer debt has risen to $2.4 trillion, with an average debt load of approximately $21,131—excluding mortgages. And Canadians are using credit cards more, as there was a 9% increase in credit balances in June 2023 compared to the same time last year…
