Weekly rate report: Average card APR breaks new record, climbing to 17.08 percent + MORE Oct 25th

There are more credit card options in Canada than you can shake a stick at! Stay on top of the best rates and plans right here.
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American Express + Air Canada team up to offer bonus points and 15% off flights + MORE May 4th

Just like the CIBC offer that came out last week there is now an offer for American Express Reserve Aeroplan cardmembers to earn bonus points for purchasing Air Canada flights. On top of this there is also a 15% off promo code being sent out to most if not all American Express cardmembers. The 10x [.... More »
 air miles

New increased welcome bonus of 950 miles on BMO's no fee AIR MILES cards + earn 5x miles at Shell until the end of the year + MORE Aug 18th

BMO updated their portfolio of no fee AIR MILES credit cards today with a new increased welcome bonus offer of 950 AIR MILES Rewards Miles. This is an increased of 150 miles over the previous offer that we have seen for sometime now. That 950 miles is worth $100 in cash if you are collecting AIR MIL.... More »
 amex

Need a Loan ASAP? Don’t Stress. Get Pre-Approved in Minutes Jun 25th

Looking for a personal loan? Let’s face it, circumstances can change unexpectedly. And, an emergency can pop up at the worst possible time. From an unexpected home improvement bill or tax liability to your kids asking for a loan, don’t stress it. Personal loans are a way to obtain the m.... More »
 card rewards

Buy or gift Aeroplan Points with an 85% bonus + MORE Aug 30th

 Aeroplan has come out with another buy or gift points promotion where you can earn an 85% bonus. . This offer runs until September 3, 2022 and allows members to buy up to 500,000 points per transaction up to the annual limit of 1 million points. If you buy 15,000 or more points you will ear.... More »
 american express

50% bonus qualifying spend on bookings with Air Canada for Business & posting issues with the BMO AIR MILES 3x partner multiplier + MORE Jul 13th

Here's your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. If your business participates in the Air Canada for Business program now is the time to book flights with Air Canada. From today through to September 30th all compan.... More »
Best of Finance Winners: The Best Credit Cards and Banking Products of 2018
RateSupermarket.ca aims to help its consumers understand which financial products match their personal portfolio. That’s why we recognize the best of the best every year at our Best of Finance awards, helping you save money and put even more in your wallet.
You work hard for your money, so when it comes to banking, you want to make the most informed decision before applying for a new product. Of course, reasons for choosing a specific credit card or banking product will vary depending on your unique lifestyle and budget. And doing your research before signing on the dotted line is crucial. But with so many options available, it may be hard to choose the one that’s right for you.
That’s why we at RateSupermarket.ca annually review the market and recognize some of the top performing credit cards and banking products at our Best of Finance awards – ultimately making your decision easier when it comes time to change investments or apply for a new credit card.
In choosing the winners of the 2018 Best of Finance Awards, we converted miles, points and cash back into dollar figures…

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Dan Bavaro says credit cards were the special sauce he needed when opening his first pizza restaurant during the recession.

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October 24, 2018: The average credit card interest rate for new card offers climbed to another all-time high on Wednesday, hitting 17.08 percent.

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October 24 Update: CIBC Aventura discounted points offer for WestJet flights, Triangle adds Husky as a partner, 150 Bonus AIR MILES at RexallCIBC Aventura cardholders have another limited flight discount available to them. You can fly on select WestJet routes for 9,000 to 25,000 Aventura points. Amount of points and the discount depends on the route. Book by November 30 to take advantage of this offer Find out more here. Here is an example of some of the redemption rates from Calgary:— Back in June we let you know that the boutique hotel loyalty program, Stash Rewards came back to Canada with the addition of four hotels in B.C. and a fiftth to come soon. That 5th hotel, the Opus Hotel Vancouver is now officially part of Stash Rewards. Find out more here.Earlier this month, Canadian Tire’s coalition loyalty program, Triangle added another partner. Husky is now part of the program but it does look like it only participates if you use a Triangle Credit card:Husky is a Partner location of the Triangle Rewards™ program. Members are able to collect 5¢ per litre in CT Money® on qualifying fuel purchases with a Triangle Mastercard…

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Bank of Canada Raises Overnight Rate to 1.75%; Cites New Trade Policy and Growing Economy
Bank of Canada Governor Stephen Poloz at a press conference following an interest rate announcement in April. 
After months of speculation, indeed, the Bank of Canada decided to raise its benchmark interest rate by 25 basis points this morning. This quarter-point hike brings the target for the overnight rate to 1.75 per cent.
This is the third time the central bank has raised rates this year, and the fifth time since July 2017. This rate hike most likely means commercial banks will soon hike their prime rates, making borrowing costs more expensive for anyone with a floating rate loan, like a variable-rate mortgage or a line of credit.
New trade policy boosts confidence in economy, but Bank still has concerns
In a statement released shortly after the announcement, the Bank lists several reasons for raising rates this time, including the finalization of the new trade agreement to replace NAFTA.  The Bank states, “The global economic outlook remains solid. The US economy is especially robust and is expected to moderate over the projection horizon… The new US-Mexico-Canada Agreement (USMCA) will reduce trade policy uncertainty in North America, which has been an important curb on business confidence and investment…

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