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 Welcome Bonus of 20,000 points and first year free with National Bank of Canada's top three travel rewards credit cards + MORE Feb 26th
This week has seen the return of limited time increased welcome bonuses on several cards from National Bank of Canada. The offer provides 20,000 bonus points and no annual fee in the first year when you spend $3,000 in the first three months on either the Platinum, World or World Elite Masterc.... More »
Boredom busters + MORE Jul 13th
Consolidated Credit Counseling Services of Canada has these great suggestions to beat the heat without dropping a ton of cold-hard cash:
1. An Old Fashion Water Fight – For kids, everything is better when you add water. Hit up the dollar store for some inexpensive water guns and balloons. Turn o.... More »
The real costs of buying a car + MORE Mar 29th
The thrill of driving a new car off a dealer’s lot is appealing, but experts warn not to let the new car smell go to your head when it comes to borrowing money to make it happen.
Mark Kalinowski, a credit counsellor and financial educator at the Credit Counselling Society, says you need to know.... More »
Kickstarter says hackers got customer passwords, email addresses, but not credit card info Feb 16th
Online fundraising site Kickstarter says hackers got some of its customer data.
Kickstarter co-founder Yancey Strickler says hackers accessed usernames, email addresses, phone numbers and passwords. The passwords are encrypted, but Kickstarter says it is possible for a hacker to guess a weak or obvi.... More »
AIR MILES expands Redtag.ca partnership - you can now earn and redeem miles for cruise vacations + MORE Dec 12th
AIR MILES announced today that they have expanded their relationship with Redtag.ca. Collectors will now be able to earn and redeem miles for cruise vacations booked via the special vacations.airmiles.ca website that is powered by Redtag."Providing our Collectors across the country with value, choic.... More »
CIBC waiving the first year annual fee on their premium travel credit cards
– RewardsCanada.ca
Much like last year, CIBC is once again running a promotion waiving the first year’s annual fee on their suite of premium travel credit cards. To qualify for the ‘rebate’ on your annual fee all you have to do is spend $500 on the card with the first three months of having it. The offer is good on the CIBC Aerogold Visa Infinite, CIBC Aerogold Visa, CIBC Aventura Visa Infinite and CIBC Aventura World Elite MasterCard. This offer runs until June 28, 2013.Each card’s sign up links can be found here:Aerogold Visa InfiniteAerogold VisaAventura Visa InfiniteAventura World Elite MasterCardApparently you can get the same offer with no spend threshold, ie 100% rebate of the annual fee without spending a dime by either calling in your application and asking for the first year fee waived or walking into a CIBC branch and doing the same.This is a nice offering to get 15,000 Aeroplan miles for nothing as you can always cancel your card before the first year is up. If you want even more Aeroplan miles you can even add another 20,000 Aeroplan Miles by signing up for the American Express Gold Rewards Card which is also fee-free in the first year and awards 20,000 Membership Rewards points via this link…
"Experts to Generation Y: Save with your credit card" – http://t.co/bQwllnMsEs
— Creditcards.Ca (@Canada_cc) June 2, 2013
Jun 4 Update: Double Aeroplan Miles at Choice Hotels, AF KLM Business Class sale (again), Alfursan buy miles bonus worth it?
– RewardsCanada.ca
A quiet day here in the FFB and RC world. Just some bonuses to pass along! News, Tips & Tricks Although it is only bonus offers today you really should make note of a few of them. The first of course is from Aeroplan and their latest double miles offer for stays at Choice Hotels, second is the Cathay Pacific offer for flights from Canada that had its own post last night and finally the Saudia Alfursan Buy Miles bonus. It definitely is not as lucrative as the US Airways or Aviacna TACA bonus but with proper planning there are a couple of redemptions that could be worth buying the miles for as they can be bought for as little as 2 cents each. Of course depending on availability the 50,000 miles for economy class Canada to Europe on Saudia’s SkyTeam partners (Air France, KLM, Delta). You can buy the miles for ~$1020+tax and if you can find availability you could potentially save a few hundred dollars versus buying that flight outright with the airline if there is no seat sale…TV ads urge credit card use for even small purchases
– thestar.com
Visa Canada wants you to use your credit card for small purchases, while Desjardins gives insurance discounts based on your driving patterns.Young People Need To Forget About Retirement
– ratesupermarket.ca
Many young Canadians are putting their retirement at risk by not considering how much money they’ll need and delaying saving for retirement, according to a recent BMO Retirement Institute report.
Only one in 10 young adults between the ages of 18 and 34 have thought a lot about how much money they’ll need to save for retirement. And 27 per cent admit they haven’t even started saving for life after work.
Poor planning? Maybe. But, rather than worry about retirement, I’d suggest most young people should actually make getting out of debt their top financial priority.
Debt Reduction Takes Priority
Don’t get me wrong. There’s a lot to be said for the smart use of credit to reach a goal like home ownership or a college education. There’s also a big difference between someone who’s just finishing grad school and a 30-year-old electrician.
But they do have one thing in common: both need to be smarter about how much they borrow and what they do with that borrowed money…
