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Canadian Credit Card Debt Rising, Delinquencies Falling

Canadian credit card debt rising

TransUnion’s quarterly analysis of Canadian credit trends found that credit card debt is increasing while credit card delinquencies are decreasing significantly. The average consumer’s total debt (excluding mortgage) in Q4 2013 increased marginally to $27,368 from $27,355 in Q3 2013. This quarterly increase of 0.05% was the lowest observed since a (-0.04%) decrease in Q3 2011. On a year-over-year basis, ... Read More »

Your Credit and You: The Basics

credit score Canada

Credit cards, mortgages, auto loans and leases all revolve around 3 numbers, your credit score. Credit scores have become an obsession for Canadians. With over $1 trillion of debt, Canadian consumers have good reason to pay attention to the three digits that in large part determine their ability to access credit, and the price they’ll pay for it. What Is ... Read More »

10 Killer Fees Canadians Should Stop Paying Now

Canadian Consumer Fees

Everyone has gone through it. A bill arrives, and there’s an unexpected charge that’s going to burn a hole through your budget. Your heart sinks, pulse rises to a staccato, face gets flushed, fists clench, and a few f-bombs echo from the walls. Sometimes those surprises are unavoidable. But more often than not, regardless of fairness, justice and the like, ... Read More »

Canada’s Best Low Interest Rate Credit Cards in 2014

Low interest credit cards 2014

If you don’t pay off your credit card balance every month, get a low interest credit card instead and you could save yourself hundreds of dollars a year in interest charges and pay off your balance faster. Here’s our look at the Canadian credit cards that save you the most in interest charges and their annual fees. 2014 Low Interest ... Read More »

Capital One Canada Enters The Battle For Canadian Wallets With Strong Product & Funny *** Humour

capital one canada aspire martin short

Capital One Canada has launched a new, and hilarious, national marketing campaign with Martin Short as their spokesperson. As the battle among banks heats up for wallet-share with record welcome bonuses, annual fee waivers and other juicy incentives, Canadians are re-evaluating their travel rewards card options. The Capital One campaign focuses on one of the biggest pain points of travel ... Read More »

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 »