How to go about securing the best rate and plan for your credit card in Canada.
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Earn up to 300 Bonus AIR MILES Reward Miles with the airmilesshops Mix & Match promotion + MORE Feb 28th
Yesterday AIR MILES launched the 2019 version of the airmilesshops.ca Mix & Match promotion. With this offer you can earn up to 300 bonus AIR MILES Reward Miles for shopping online via the airmilesshops.ca portal. To earn the bonus miles you have to shop at online retailers from various categori.... More »
Podcast Episode 53 is here! Interview with Suzanne Tyson founder of HigherEdPoints on how you can use loyalty points to pay for tuition and student loans Apr 5th
Episode 53 - April 4, 2019 Interview with Suzanne Tyson, founder of HigherEdPointsThis week we catch up with Suzanne Tyson, the founder of HigherEdPoints.Launched 5 years ago HigherEdPoints allows students and their families for using miles and points for tuition. You can convert Aero.... More »
Air France KLM Flying Blue Promo Awards - Save 25% on award tickets between Calgary, Toronto, Vancouver & Europe + MORE Jul 4th
The newest set of Air France KLM's Promo Awards went last Friday and for us Canadians this set has three cities for us! We haven't seen a Canadian city in the Promo Awards list since February so this is great news. With promo awards the discount ranges from 25 to 50% off the regular amount of mil.... More »
Save 20% on IHG One Rewards reward night stays + MORE Jan 13th
IHG One Rewards has an reward night sale offering 20% off for stays that are booked by January 20. The discount is available to IHG One Rewards Platinum and Diamond members and also applies to Cash+Points rates. It is also open to those who hold an IHG One Rewards co-brand credit card if you happen .... More »
Earning Stories: Completing a quintuple dip for purchasing gas at Shell + MORE Jul 4th
You'll often hear points and miles enthusiasts and those that write about the industry make reference to dipping. That is double dip, triple dip and so on. What this refers to is earning multiple points, miles or other incentives for a single purchase or action. For most transactions the double dip .... More »
Tighter Lending Rules Mean Better Credit Card Options for Consumers
– ratesupermarket.ca
Consumers look to cash in over the next several months, as a softening housing market spurs banks to shift their focus to credit cards as a larger source of lender income.
Mortgage lending is traditionally the largest source of banks’ funding – and while it continues to be the main breadwinner, recent restrictions to cool the markets are now being felt in bank coffers.
These market changes include a recently imposed monthly cap on mortgage guarantees at $350 million for each mortgage lender. As the spread of mortgages narrows and becomes less attractive, banks look to make up the lost profit through credit cards.
Credit Cards Mean Easier, Faster Profits
Although credit cards have a higher default rate, they offer the opportunity for a higher profit margin. As the saying goes – the higher the risk, the higher the reward. Consumer debt has skyrocketed over past several quarters, fueled by ultra-low interest rates. The debt-to-income ratio hit a record 163 per cent in the third quarter of 2012, before falling slightly to 162 per cent in the most recent quarter, according to Statistics Canada…
The NDP is calling on Finance Minister Jim Flaherty to acknowledge a mistake in last spring’s federal budget that more than doubled the corporate tax rate for credit unions and bring in a fix immediately.
