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?
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Canadian lender Desjardins may stop pipeline loans Jul 9th
Desjardins, the largest association of credit unions in North America, on Friday temporarily suspended lending for such projects and may make the decision permanent, spokesman Jacques Bouchard told Reuters by telephone..... More »
Up to 500 Bonus AIR MILES when you book a hotel stay via the AIR MILES Travel Hub + MORE Jun 21st
Another bonus for booking hotels via the AIR MILES Travel Hub! The AIR MILES Travel Hub, a is a hotel booking engine powered by PointsHound.com and allows AIR MILES Collectors to book stays at more than 150,000 hotels and all-inclusive resorts around the world and earn additional AIR MILES Rewa.... More »
Rate survey: Average card APR continues to climb - CreditCards.com + MORE Dec 28th
Dec. 27, 2017: The average credit card interest rate hit another record high this week, according to the CreditCards.com Weekly Credit Card Rate Report..... More »
TD Bank reports $1.58B Q1 profit, down 58% from year ago - BNN Bloomberg + MORE Mar 2nd
TD Bank reports $1.58B Q1 profit, down 58% from year ago BNN BloombergTD tops analysts' forecasts as improved margins offset higher provisions for bad loans The Globe and MailRBC reports Q1 profit down as expenses, provisions for credit losses rise Yahoo Movies Canad.... More »
How to Save on Holiday Season Travel + MORE Dec 9th
How to Save on Holiday Season Travel
Is the Canadian winter starting to get to you before it has even officially started? Are you tired of waking up in the dark and leaving work in the dark? Is it time to shake up your daily routine? It’s likely that a break from the everyday – perhaps on a sun.... More »
Why an old debt may vanish from credit report
– creditcards.com
If a legitimate debt disappeared from your credit report, don’t celebrate yet. It might not be gone long.
Canadian banks set aside more money for bad loans to oilpatch, consumers
– canadianbusiness.com
TORONTO – Canadian banks are setting aside more money for sour loans as the oil price shock continues to take its toll on borrowers in Western Canada.
Royal Bank (TSX:RY) said Thursday it has boosted its provision for credit losses to $460 million, up $178 million from a year ago, while CIBC (TSX:CM) earmarked $324 million for bad loans in the second quarter, an increase of $197 million from a year earlier.
Laura Dottori-Attanasio, CIBC’s chief risk officer, says the bulk of the increase can be attributed to companies in the oil and gas sector, although the bank also saw an uptick in bad loans in its credit card and personal lending portfolios.
“You may recall that last quarter, I mentioned that we added nine names to our oil and gas watch list,” Dottori-Attanasio said during the bank’s second-quarter earnings call, referring to energy companies that could struggle to repay their debts.
“Well, this quarter the majority of those names moved to impaired status…
Royal Bank (TSX:RY) said Thursday it has boosted its provision for credit losses to $460 million, up $178 million from a year ago, while CIBC (TSX:CM) earmarked $324 million for bad loans in the second quarter, an increase of $197 million from a year earlier.
Laura Dottori-Attanasio, CIBC’s chief risk officer, says the bulk of the increase can be attributed to companies in the oil and gas sector, although the bank also saw an uptick in bad loans in its credit card and personal lending portfolios.
“You may recall that last quarter, I mentioned that we added nine names to our oil and gas watch list,” Dottori-Attanasio said during the bank’s second-quarter earnings call, referring to energy companies that could struggle to repay their debts.
“Well, this quarter the majority of those names moved to impaired status…
May 26 Update: WestJet dollar earn rates for flying on Qantas, minimum spend increased for the Amex Gold Rewards Card, Air France Flash Sale!
– RewardsCanada.ca
News, Tips & Tricks Earlier in the week we told you about the new WestJet and Qantas frequent flyer partnership. At the time WestJet did not have the earn details for flying on Qantas out yet. They have now been published and you can earn anywhere from 3 to 22 WestJet dollars on Qantas flights. 22 WestJet dollarsmay not seem like a lot for flying Qantas first class over 4,000 miles but if you are someone who doens’t fly on Qantas frequently but do on WestJet then it probably makes sense to credit to WestJet Rewards. If you are frequent traveller on Qantas then you are better off crediting to QFF (including your WestJet flights). Simply frequent flyer program knowledge here. Here is the complete earn chart:We hate seeing changes like this but American Express has changed the minimum spend requirement on the American Express Gold Rewards Card. The card which is ranked #1 overall by Rewards Canada now requires $1,500 in spending in the first three months versus the old $500 to earn the 25,000 Membership Rewards points…
