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Canadian Economy Slows: Credit Card Debt Remains Safe

credit card report

As Canada’s economic forecast takes a turn for the worse, Canadian credit cards are still predicted to be a strong performer for banks, according to Fitch Ratings in a recent report. ‘Canadian consumers are facing higher household debt burdens primarily tied to rapidly rising mortgage borrowing and disappointing productivity growth,’ said Managing Director Michael Dean. ‘That said, credit card portfolios ... Read More »

Barclaycard tests ‘tap &go’ payment gloves

Contactless payment gloves

Barclaycard in the UK, has started testing “tap & pay” woollen gloves that can be used to make payments in the same way that you would use contactless cards. “The cosy woollen gloves, which are also touchscreen-enabled so shoppers can use their mobile phones while on the move, act like your credit or debit card and can be used to make ... Read More »

Toronto Public Transit Accepts Credit Cards As of Jan 1, 2015

ttc credit card

Finally! Torontonians will soon be able purchase subway fares with their credit or debit cards. Beginning Jan. 1, 2015, TTC riders can use their credit or debit cards to buy ten or more single fares or any multi-fare pass at all 69 subway stations throughout the network. Tory was critical of the city’s outdated cash-only system currently in place for ... Read More »

Have Your Credit Card Interest Rates Increased? Just Say No.

Credit Card Interest Rate Increase

Enjoy when your credit card’s APR increases without warning? When that happens, you have a choice to stay or leave for a better rate. Let’s take a look at your alternatives and what you can do to stem the tide of rising interest rates. First here are a few basics you should know about your credit card. Definition of APR ... Read More »

New Canadian Credit Card & Loyalty Digital Wallet Launched

Ugo Digital Wallet

TD Canada Trust and President’s Choice Bank have launched Ugo, a mobile wallet. Time will tell if it’s Canada’s answer to Apple Pay. UGO Wallet is a digital wallet app that lets you pay with a credit card loaded onto your phone and collect loyalty points from your favorite loyalty programs. You can pay using the participating credit cards you add ... Read More »

Save Money With A 0% Balance Transfer Card

balance transfer credit card

Transferring your credit card balances to a 0% rate can be a fast and easy method to cut the cost of borrowing and give you some additional time to repay your debts. Here’s a guide to making the most of 0% balance transfers. Balance transfers are becoming an increasingly popular credit card offer in Canada. Canadians are using them as a ... Read More »

How To Choose The Best Credit Card

woman-with-credit-card_shutterstock_56667469

Getting the best credit card available is a great way to earn extra dollars or access affordable debt. However, with tons of credit cards on the Canadian market, how can you make sure you’re getting the best credit card deal possible? If you’re looking to apply for a new credit card, selecting the right card could save you hundreds and ... Read More »

Canadian Credit Card Industry Heading For A Bumpy Ride

Interchange fee regulation Canada

Canada’s credit card market is headed for some upheaval. With Finance Minister Joe Oliver asking Visa and MasterCard to “voluntarily” reduce interchange rates, or face the risk of regulation, Canadians can expect significant changes to their credit cards. Here’s a brief primer on interchange. Interchange is a fee MasterCard and Visa set, which is charged to merchants each time a ... Read More »

5 Ways Store Credit Cards Can Hurt You

store credit card

Have you ever signed up for a store credit card just to get a discount on a purchase or to get 0% financing for 12 months? We see it every day at stores like Ikea, Sears, Home Depot and The Brick. On any given day, a sales associate could ask you if you want to save an additional 10% by ... Read More »

4 Reasons Why CapitalOne’s Costco Canada Partnership Might Fail

Costco CapitalOne Partnership

 As we called it earlier in August, Costco Canada is ending its 15 year-old credit card partnership with American Express and beginning a new one with Capital One. CapitalOne has already soft-launched its new product in select stores, and our understanding is the new co-branded MasterCard with Costco will fully launch by the end of September, 2014. American Express will no ... Read More »