Tips on auto financing if you have poor credit + MORE Sep 2nd

Easy credit and longer-term loans currently being offered at auto dealerships can make buying an expensive car alluring. Greg McBride, chief financial analyst at the Bankrate.com website, says consumers with poor credit shouldn’t bite.
Consumers tend to focus on the payment rather than the interest rate, which likely will be far higher than the below 3-per cent rate now available to those with good credit.
“They engage in the dangerous financial habit known as payment shopping,” McBride says.
Here’s what he suggests instead.
— Buy a lower-priced car or a used car with a shorter payoff period. Paying it off will help you get a lower interest rate on your next car.
— Don’t be fooled by the payment on a loan that’s six years or longer. Look at the interest rate, which could be double or more what borrowers with good credit can get. It will take years for you to build any equity in your car.
— Don’t buy a car until you pay down other debts and improve your credit rating…

DETROIT – Big discounts. Six- or seven-year loans, in some cases to buyers who would have been turned down in the past.
As the auto industry strives to sustain its post-recession comeback, car companies are resorting to tactics that some experts warn will lead to trouble down the road.
Vehicle discounts have risen 5.5 per cent from a year ago. More than a quarter of new buyers are choosing to lease, a historically high percentage. Auto company lending arms are making more loans to people with low credit scores. The industry is adding factory capacity. And the average price of a car keeps rising, forcing some customers to borrow for longer terms to keep payments down.
Annual auto sales in the U.S. should top 16 million for the first time in seven years. But the pent-up consumer demand that has driven sales is ebbing. Sales are predicted to grow 5.5 per cent this year, the slowest pace since the financial crisis.
The big discounts and other steps eventually should help push sales above 17 million, most experts say…

NEW YORK, N.Y. – Home Depot is investigating a potential credit card data breach.
The Atlanta home improvement retailer told The Associated Press Tuesday that it’s looking into “unusual activity” and that it’s working with both banks and law enforcement.
The possible data breach was first reported by Brian Krebs of Krebs on Security, a website that focuses on cyber security. Krebs said multiple banks reported “evidence that Home Depot stores may be the source of a massive new batch of stolen credit and debit cards.”
The Krebs report says that the responsible party may be the same group of Russian and Ukrainian hackers suspected in last year’s massive breach at Target Corp.
Shares of The Home Depot Inc. are down 2 per cent to $90.91 in late trading.
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What is the one category of reward credit cards making inroads on Travel Reward cards? Cash back. Over the past few years we have seen an explosion in the cash back cards being offered by card issuers in Canada and two more are now in the market.Today American Express officially launches the SimplyCash and SimplyCash Preferred Credit Cards. American Express already has had a cash back card in their portfolio, the American Express Gold Cash Back card but that was a charge card in which you can’t run a balance and technically have no spending limit but it does appear that card has once again been pulled for new applications. They alos offer the True Earnings Card from Costco which is technically a cash back card as well.American Express has obviously watched this space closely and done their research to ensure that when they introduced these new cash back cards to the market they would challenge the mainstays in this space the mbna Smart Cash MasterCards and Scotia Momentum Visas.  Both the Amex cards have stronger base earning rates than any other cash back cards on the market although at certain spend rates some other cards do match or exceed these cards (see our Cash Back comparison chart for more details but overall these cards should earn more cash back on overall spending in the category…

It has been sometime since we have seen a non-targeted systemwide bonus mile offer from Air Canada and that all changes today! If you are an Aeroplan member you should see this offer in your inbox, if not it should be there soon or you can register via the link below. The offer is simple, earn 50% Bonus Aeroplan Miles on all eligible scheduled non-stop flights operated by Air Canada (including flights operated under the Air Canada Express brand) and Air Canada rouge. Like all Air Canada flight promotions this offer unfortunately does not count towards bookings made before today but counts for any bookings made between September 2nd and October 31st for travel that takes place between October 1st, 2014 and April 30th, 2015Offer details50% Bonus Aeroplan Miles on all eligible scheduled non-stop flights operated by Air Canada (including flights operated under the Air Canada Express brand) and Air Canada rouge. Register Online (Registration is required) Register and book between Sep 2 and Oct 31 for travel between Oct 1 and Apr 30, 15Can’t make use of this offer? Be sure to visit our Aeroplan Bonus Miles page for many more bonuses!