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One credit card for everything: Pros, cons and tips to make it work + MORE May 18th
Using just one credit card for everything has pros and cons. Here's how to make the best out of having a single card in your wallet..... More »
The Ultimate Guide to Credit Card & Loyalty Programs for the All Inclusive Vacationer + MORE Sep 23rd
This feature was originally published on the Rewards Canada website in October of 2019 and has been updated for 2021! With travel starting to open up more for Canadians many people will be looking to get away this winter to some sunny destinations and the good news is you can use your cred.... More »
March 2 Update: WestJet news delayed, Priority Pass adds restaurant at JFK and Fairmont 3 for 2 offer + MORE Mar 2nd
Well on Wednesday there was going to be some big news from WestJet but that has been delayed to sometime in spring apparently. As soon as we hear something that we care allowed to share we'll be sure to pass it along! The latest trend for airport business class lounge access program Priority Pass.... More »
Credit Memo vs. Debit Memo: What’s the Difference? + MORE Apr 8th
If you pay close attention to your bank statements, you may notice an item labelled, “credit memo”, from time to time. But without more information, it’s hard to know what the credit memo is for; why you received extra money in your account. The same goes for “debit memos.” Businesses also.... More »
Aeroplan extends the expiry date on Buddy Passes earned from co-brand credit cards Jun 22nd
Great news for those of you who are holding on to Buddy Passes or have been considering applying for an Aeroplan co-brand card that offers a Buddy Pass. Those booking window for passes have been extended by Aeroplan to December 31, 2022 for travel into December 2023. Rewards Canada reader Jose.... More »
Canada’s privacy commissioner investigating Equifax as two executives leave company
– theglobeandmail.com
The credit monitoring company’s call centre staff have told callers that only Canadians that have credit files in the U.S. were likely to be impacted
Q&A: Applying for a second card? Keep the first one open
– creditcards.com
If you’re applying for a second card, don’t close the first one. It could boost your credit score.
Household debt to disposable income ratio climbs to record in second quarter
– canadianbusiness.com
OTTAWA _ The amount Canadians owe compared with their disposable income hit a record high in the second quarter as per capita household net worth inched lower.
Statistics Canada said Friday household credit market debt as a proportion of household disposable income increased to 167.8 per cent, up from 166.6 per cent in the first quarter.
That means for every dollar of household disposable income there was $1.68 in credit market debt.
The increase in the debt ratio came as household net worth on a per capita basis fell by $1,300 to $285,900.
“A decline in household net worth, albeit modest, alongside a sharp increase in consumer credit growth are notable as together they suggest that the ability of households to absorb higher interest rates continued to deteriorate,” RBC economist Laura Cooper wrote in a report.
Household debt has been identified as a key risk for the economy as low interest rates have made it easier for Canadians to borrow money. However, rates have started to climb in recent months…
Statistics Canada said Friday household credit market debt as a proportion of household disposable income increased to 167.8 per cent, up from 166.6 per cent in the first quarter.
That means for every dollar of household disposable income there was $1.68 in credit market debt.
The increase in the debt ratio came as household net worth on a per capita basis fell by $1,300 to $285,900.
“A decline in household net worth, albeit modest, alongside a sharp increase in consumer credit growth are notable as together they suggest that the ability of households to absorb higher interest rates continued to deteriorate,” RBC economist Laura Cooper wrote in a report.
Household debt has been identified as a key risk for the economy as low interest rates have made it easier for Canadians to borrow money. However, rates have started to climb in recent months…
The Equifax hack is Canada’s problem, too. So where’s the outrage?
– theglobeandmail.com
Equifax is in deep trouble, and so are the many lenders who shared customer credit information with the company