What Is a Credit Bureau? Important Information for Canadian Consumers + MORE Apr 29th

Whether we realize it or not, credit bureaus have a significant impact on our financial lives. The information they provide to lenders can determine mortgage rates, lending amounts, and credit card approvals. But what exactly is a credit bureau, and what can you do with their information?
What Is a Credit Bureau?
A credit bureau, also known as a credit reporting agency, is a company that collects information from banks or other financial institutions about your credit and lending history. Lenders use this information when making lending decisions to determine your creditworthiness.
The following is information reported to a credit bureau:

Personal/demographic information
Credit account information
Credit inquiry information
Collections information and public records (e.g., bankruptcy)

The 3 Major Credit Bureaus in Canada
There are 2 major consumer credit bureaus in Canada, Equifax, and Transunion. Both are public, independent, privately-owned companies traded on the New York Stock Exchange…

 Here’s your Rewards Canada Daily update! Your daily dose (or near daily dose) of loyalty program, credit card and travel news, bonuses, deals and more.  Air Transat released news today that they will receive $700 Million in funding from the Federal Government and as such will now allow travellers who received travel credits as a result of COVID-19 to request refunds for those credits. It’s been a long time coming for Canadian consumers to get refunds on all the flights and vacation packages that had to be cancelled since last March. WestJet took the initiative first out of the big carriers with Air Canada and now Air Transat only announcing refunds once they were granted loans from the government. Air Transat has set up a dedicated page on their website where you can request a refund for your travel credit. Visit that page here and please let us and our fellow readers know how the process works out for you!This is the criteria for getting a refund from Air Transat:Eligibility criteria: I have a travel creditMy departure was scheduled for February 1, 2020, or later My booking was made before April 29, 2021I did not transfer my travel credit, nor was it transferred to me I did not submit a claim to my insurance company My booking is not subject to an active chargeback claim, nor has it already been refunded by my credit card provider  Image via Air Transat —  A new Amex Offer is available for ordering from Kinton Ramen…

  Once again excellent news coming out from Marriott today – they are providing further extensions to free night awards and points expiration! These changes will be effective as of May 6, 2021:Free Night Award (FNA): Members who currently have a Free Night Award (FNA) that had an original expiration date in 2020, or which will expire before January 2, 2022, as part of their Cobrand Credit Card Benefit, Annual Choice Benefit, promotions or travel package will be able to redeem it through January 3, 2022. Please note that FNAs with an original expiration date before 2020 will not be eligible for the additional extension. Members do not need to take any action because the system will automatically update their account with these extensions on May 6, 2021. Points Expiration: Points expiration won’t resume until March 31, 2022.  This will give members whose accounts have been inactive for at least 24 months even more time for a points transaction to keep their account active and to redeem points in their account toward a stay so they have more time to use them for free nights, gift cards and more…

 The overall best travel rewards credit card in Canada (and in fact a pretty strong cash back card in its own right) has enjoyed its best ever welcome bonus since January and that offer will be wrapping up in two weeks! The card is the American Express Cobalt Card and ever since it launched late in 2017 it has been the number one card in Canada. There are several reasons for this but it primarily comes down to the card earning 5x points on eats and drinks (it was one of the first cards to award that many points on purchases) but also providing good redemption value for those 5x points and even the rest of the points the card earns a 2x and 1x. On top of that the card lets you convert points to Marriott Bonvoy which can then in turn be converted to 40+ airline programs including Aeroplan. Really, the card gives you a little bit of everything.Here are just a few of our articles that support this card being the best in Canada: Yes, you can achieve a return of 20% or higher on your credit card spending  Why the American Express Cobalt Card is the best card to get for your future travel plansand many more can be found here: American Express Cobalt Card Resources on Rewards Canada  Now back to the best ever bonus on this card! When you apply for the card by May 5 you can earn up to 45,000 Membership Rewards Points…