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Canadian Consumer Debt Predicted To Rise To Record Levels of $28,853 Per Consumer

Canadian consumer debt rises

Canadian consumer debt is expected to soar to a record $28,853 by the end of 2014, from the current average excluding mortgages of $27,743, while delinquencies are expected to decline. In its forecast of Canadian consumer debt, TransUnion predicts “the average Canadian consumer’s total debt is expected to rise by four percent in 2014, which would be more than $4,500 ... Read More »

40 Million Credit Card Accounts Compromised at Target

Target Credit Card Breach

Target says approximately 40 million credit and debit card accounts may have been compromised by a data breach in its U.S. stores between Nov. 27 and Dec 15th. For now, it is not believed credit cards, used in Canadian Target stores, have been affected. Anyone who has used a credit card at Target recently is encouraged to review their statements ... Read More »

Google & RBC Launch Adwords Business Credit In Canada

Adwords Business Credit Launches in Canada

Google and RBC have quietly launched Adwords Business Credit in Canada. An innovative financial product, available by invitation only, it offers a credit line to small businesses exclusively  for the purposes of funding Adwords campaigns. As an incentive to apply, new cardholders are being provided a free Nexus 7 tablet if they get approved for the card and spend $250 ... Read More »

CIBC’s “New” Aventura Travel Rewards Visa Card. Where’s The Beef?

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CIBC has re-launched its Aventura Travel Rewards Program. Unlike it’s Aeroplan card, the re-launched Aventura program offers cardholders the ability to redeem points for any airline, any time, with no seat restrictions.  The one feature the Aventura card has lost, is the ability for cardholders to transfer their Aventura points to Aeroplan1:1. That was a big draw of the program. ... Read More »

Travel Credit Cards: 17% of Canadians Want to Switch

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Canada is in for some dramatic changes to its credit card landscape in the next year. Aeroplan, long associated with Canada’s largest and most successful credit card portfolio, is gearing up for a new world order as approximately 50% of its existing customers residing with CIBC will be acquired by TD. Aeroplan was already challenged by an increasingly competitive travel ... Read More »

CIBC, AIMIA win big in workout of Aeroplan program with TD

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Today, Aimia announced that CIBC, TD and Aimia have agreed on a go forward plan that would see CIBC sell its non-relationship Aeroplan credit card accounts to TD, and then have the ability to retain the right to offer an Aeroplan credit card to its customers. TD would then convert the non-relationship Aeroplan accounts to a TD Aeroplan account and ... Read More »

Rogers To Launch Credit Card in 2014. What’s Behind The Decision?

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On September 6th, Rogers Communications announced that it received permission from OSFI to issue credit cards. Earlier last year Rogers registered a bank subsidiary, which at the time was largely regarded as a precursor to issuing its own credit cards. Rogers has now confirmed that it intends to start issuing credit cards as early as 2014. “Our credit card business ... Read More »

Canada’s Best Cashback Credit Cards Compared & Ranked

best cashback credit card

The best cashback credit cards are the most straightforward of the rewards cards. No blackouts, expiring points, or gimmicks – just cold, hard, cash. If you pay down your credit card balance every month, some of the best rewards credit cards available pay out in cash. Whether you have a family of four, vacation to your cottage on the weekends ... Read More »