The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
Latest News
New increased welcome bonus of 50,000 points for the Business Platinum Card® from American Express + MORE Sep 25th
It appears that American Express Canada is raring to get back in the game for acquiring new customers for their card products. After nearly half a year of moving marketing dollars away from customer acquisition to existing customer engagement due to the pandemic we have now seen two increased .... More »
Canada’s Top Travel Rewards Credit Cards 2023 + MORE Jan 9th
Rewards Canada is pleased to present the best Travel Rewards Credit Cards in Canada for 2023! In this, our 15th edition of ranking the best credit cards in Canada we have added two new categories to help Canadians from all walks of life find the best travel credit cards for their wallets. Now that t.... More »
Can you file multiple years of income taxes together in Canada? + MORE Dec 21st
Tax season is approaching. Soon, more than 30 million Canadians will be filing their tax returns. Most Canadians file their taxes every year but according to a paper from Carleton University, as many as 12% of Canadians don’t, and aside from missing out on tax refunds, this is costing many low inc.... More »
Canadian North and First Air to merge - Aurora Rewards will remain as the new airline's frequent flyer program Jul 22nd
On July 10 the Government of Canada approved the merger of Canada's two major airlines of the north, First Air and Canadian North. The merged airline will be known as Canadian North but with a planned integration timeline of 18-24 months the two airlines will continue to operate separately for the t.... More »
Credit card bonus categories: What's ahead for 2019 + MORE Nov 30th
Two of the most popular cash back cards offer 5 percent bonus categories that rotate every quarter. With the calendar soon to roll over into 2019, it's a great time to re-examine them..... More »
Metal credit cards aren't just for the wealthy now
– creditcards.com
Metal credit cards aren’t just for the wealthy now. Once reserved only for affluent, a few no-annual-fee cards now have that “plunk” factor.
What the Bank of Canada Rate Increase to 1.5% Means for Canadian Home Owners and Home Buyers
– ratesupermarket.ca
From personal loans to mortgages, simply put, it’s now more expensive and more difficult for Canadians to borrow money.
At the beginning of 2018, new mortgage rules raised the bar for qualification. Under federal law, all financial institutions are now required to put any new applicants under a strict “stress test”, regardless of their down payment amount. Borrowers have to prove they can still make payments at the greater of two options: either the five-year benchmark rate published by the Bank of Canada (currently 5.34 per cent), or the contractual mortgage rate plus two percentage points. Otherwise, those borrowers will not qualify for a mortgage.
And in recent news, the Bank of Canada raised its overnight lending rate to the highest level in almost ten years; the target is now 1.5 per cent. Commercial banks responded right away by raising their prime rate to 3.7 per cent. This means if you have a variable rate mortgage or have borrowed money from a line of credit, it is going to get more expensive to service…
MBNA True Line® Mastercard® and True Line® Gold Mastercard® Review
– ratesupermarket.ca
When MBNA recently decided to stop taking applications for their Platinum Plus Mastercard, many customers were disappointed since it was one of the best low-interest balance transfer credit cards in Canada. However, it didn’t take MBNA long to come out with two replacement cards as they revamped their True Line cards with an interest rate of zero per cent for balance transfers in the first six months.
If you’re looking to consolidate and reduce your debt, then the MBNA True Line® Mastercard® and MBNA True Line® Gold Mastercard® credit cards are worth considering, as they offer some of the lowest interest rates on the market.
Sign Up Bonus and Earning Rate: N/A
Since this is a low interest credit card, you don’t earn any points or cash back. That being said, if your goal is to reduce debt, these cards are excellent choices.
The MBNA True Line® Mastercard® has no annual fee, but after the introduction interest rate of zero per cent ends after six months, your interest rate climbs to 12…
Profits at U.S. credit card banks fell due to higher delinquencies and lower net noninterest income in 2017, according to a Federal Reserve report.
