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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Top 5 Credit Card Sign Up offers for April + MORE Apr 7th
Here are the Rewards Canada Top 5 Credit Card Sign Up offers for the month of April! This is not a 'best' credit card list like our Top Travel Rewards Credit Card rankings but instead a look at cards that have very good acquisition offers. As always when choosing a card you should always take other.... More »
The Ultimate Foodie Credit Card Portfolio, Air France KLM Flying Blue Promo Rewards for May & a 20% bonus on Fairmont gift card purchases on May 4 + MORE May 4th
Here's your Rewards Canada Daily update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Today's update is brought to you by the HSBC High Rate Savings Account with which you can enjoy a total annual interest rate of up to 2.65% on new deposits±&n.... More »
Podcast Episode 88 - February 21, 2022 BMO, What are you doing? Part II Feb 22nd
Who would have thought that almost exactly a year after we had a podcast "BMO, What are doing?" we release this episode, BMO, What are you doing? Part II. Yes, BMO is at it again, changing their best travel rewards card and for the most part it is getting worse. The BMO World Elite Mastercard wi.... More »
Sticking to the long, slow credit rebuilding process + MORE Jan 22nd
After bankruptcy, garnishment, find a plan that works for you.... More »
The Best Travel Credit Card Welcome Bonus Offers for August 2024 Aug 5th
Here are the Best Travel Credit Card Sign Up offers for the month of August 2024. This is not an overall ‘best’ credit card list like our recently released Top Travel Rewards Credit Card rankings for 2024 but instead a look at cards that have the most valuable welcome bonus sign up off.... More »
Some advice for borrowers and investors: Take a deep breath
– canadianbusiness.com
WASHINGTON _ If you’re about to buy a home, shop for a car or borrow for college, the pros have some advice:
Go ahead.
The Federal Reserve’s decision Wednesday to slightly raise its key interest rate, advisers say, should have little effect on mortgages or auto and student loans. The Fed doesn’t directly affect those rates, at least not in the short run.
Nor should the economy’s health be much affected by the Fed’s move.
That said, rates on some other loans _ notably credit cards, home equity loans and adjustable-rate mortgages _ will likely rise soon, though only modestly. Those rates are based on benchmarks like banks’ prime rate, which moves in tandem with the Fed’s key rate.
Mortgage rates have been surging, for reasons that have little to do with the Fed. Rather, Donald Trump’s election as president _ with his pledge to slash taxes, loosen regulations and increase infrastructure spending _ has raised the prospect of faster economic growth and inflation…
Go ahead.
The Federal Reserve’s decision Wednesday to slightly raise its key interest rate, advisers say, should have little effect on mortgages or auto and student loans. The Fed doesn’t directly affect those rates, at least not in the short run.
Nor should the economy’s health be much affected by the Fed’s move.
That said, rates on some other loans _ notably credit cards, home equity loans and adjustable-rate mortgages _ will likely rise soon, though only modestly. Those rates are based on benchmarks like banks’ prime rate, which moves in tandem with the Fed’s key rate.
Mortgage rates have been surging, for reasons that have little to do with the Fed. Rather, Donald Trump’s election as president _ with his pledge to slash taxes, loosen regulations and increase infrastructure spending _ has raised the prospect of faster economic growth and inflation…
Air Canada and Virgin Australia to Introduce Codeshare Services and Reciprocal Frequent Flyer Benefits in Strategic Cooperation
– RewardsCanada.ca
Wow! Did not see this one coming! Nice code share agreement for flights down under as you’ll be able to earn Aeroplan miles on Virgin Australia flights (and vice versa for Velocity members) sometime in 2017 once the agreement is approved by the necessary authorities. Redemption will come at a later date but that will be another great option to redeem Aeroplan miles on Virgin Australia between the U.S. and Australia, especially in Business Class! (Source Air Canada)Part of me thinks this could be a small reaction to WestJet’s partnership with Qantas! Oh did I say that out loud?MONTREAL, Dec. 14, 2016 /CNW Telbec/ - Air Canada today announced it has signed a Memorandum of Understanding for a strategic cooperation agreement with Virgin Australia, making it easier for Canadians to travel throughout Australia and New Zealand and providing Australians with more options to travel to Canada.The first stage of the codeshare agreement is scheduled to be implemented in early 2017 when Air Canada customers will be able to book travel on a single ticket to an additional 10 cities throughout Australia and New Zealand on Virgin Australia-operated flights connecting with Air Canada’s daily year-round service to Sydney and Brisbane…How credit scores attempt to predict the future
– creditcards.com
Great credit today can tumble tomorrow; scoring formulas look for, rank risks
Canadian debt to income ratio climbs to 166.9%
– moneysense.ca
OTTAWA —The Canadian household debt compared with income climbed to a record high in the third quarter as borrowing grew faster than incomes.
Statistics Canada said Wednesday the ratio of household credit market debt to adjusted disposable income crept up to 166.9 per cent in the third quarter, up from 166.4 per cent in the second quarter.
That means, on average, Canadians owed $1.67 in credit market debt—mortgages, other loans and consumer credit —for every dollar of disposable income.
Benjamin Reitzes, a senior economist at BMO Capital Markets, said the half a percentage point increase in the debt ratio was well below seasonal norms and the smallest third-quarter increase since 2000.
Statistics Canada said Wednesday the ratio of household credit market debt to adjusted disposable income crept up to 166.9 per cent in the third quarter, up from 166.4 per cent in the second quarter.
That means, on average, Canadians owed $1.67 in credit market debt—mortgages, other loans and consumer credit —for every dollar of disposable income.
Benjamin Reitzes, a senior economist at BMO Capital Markets, said the half a percentage point increase in the debt ratio was well below seasonal norms and the smallest third-quarter increase since 2000.
Invest or pay off debt? »
“Even with the more modest increase, the upward trend in household debt…continues unabated,” Reitzes wrote in a report.
“However, we might start to see the ratio flatten out a bit in 2017 as the Vancouver housing market has cooled notably due to the foreign buyers’ tax, and the new mortgage rule should dampen activity modestly in 2017…
