<-- !Begin Adoric Script -->

About GreedyRates

Here are my most recent posts

Author Archives: GreedyRates

Compulsive Shoppers Are Materialistic. Max Credit Cards to Boost Mood

1375801588879641.jpg

Why do shopping addicts keep spending even in the face of harmful financial, emotional and social consequences? A new study suggests poor credit management and a belief that new purchases will create a happier life fuel compulsive buying. Approximately 10 percent of adults in Western countries are believed to have a compulsive spending disorder that leads them to lose control ... Read More »

How Much Are Canadian Merchants Really Charged by Visa & MC?

1374590523519779.jpg

With the Canadian Federal Competition Tribunal set to provide its ruling on whether merchants should be able to surcharge or not honor all Canadian credit cards, there seems to be quite a bit of misinformation regarding how much merchants are actually being charged for different types of credit cards. Here is our understanding of the latest interchange rates (%) being ... Read More »

RCMP Warns of New Credit Card Scam

1374260119953105.jpg

Thanks to the BC Consumer Protection Agency and the RCMP which just published the following Credit Card Scam Alert: An overview of the scam You get a call from someone who identifies him or herself as working in the security and fraud department at your credit card company. They’ve supposedly flagged your account due to unusual purchase activity and are ... Read More »

Q2 2013 GreedRates.ca Canadian Credit Card Landscape Report

1373651600298966.jpg

The GreedyRates.ca Canadian Credit Card Landscape Report is conducted quarterly, using  data compiled from over 100 credit cards of the leading Canadian card issuers’ websites. Key Findings:   Penalty interest rates are increasing for missed credit card payments:    When consumers default on a credit card payment, it can result in their promotional and/or regular interest rate increasing to a penalty ... Read More »

Clear off your Credit Debt With 0% Balance Transfer Cards

0% Balance Transfer Credit Cards

When looking for a low balance transfer credit card, you should always evaluate three features: the interest rate, the length of time of the promotion and the balance transfer fee. You don’t want to pay 3% in fees for the privilege of a 0% offer. At the same time, you don’t want a short promotional period that won’t give you the time ... Read More »

Aeroplan to have new product line-up, improved economics for Aimia

1372351176059162.jpg

Additional details are surfacing around terms of the deal between TD and Aimia, including how the new product line-up might change. As reported by CNW: Features of New Credit Card Offerings New Aeroplan co-branded financial credit cards, to be launched in 2014, will provide cardholders with more flexible options, better earn rates and new recognition features; all of which is ... Read More »

Will TD win the Aeroplan Sweepstakes?

1372340260199511.jpg

MONTREAL — Aimia, the parent company of Aeroplan, is prepared to terminate its relationship with CIBC if CIBC does not match contractual terms offered by TD Bank. CIBC has until August 9th to match TD’s terms. A switch would mark the end of a long standing relationship between CIBC and Aeroplan. The market has known for quite a while that ... Read More »

Impress your date without maxing out your credit card

1371224357403181.jpg

Creative, inexpensive date ideas Whether you’re going on a first date or 50th, choosing what to do can be stressful. You don’t want to seem cheap by going for Big Mac’s, but there’s no need to max out your credit card either. Most girls have enough money being thrown at them by guys, and most guys are sick of spending ... Read More »

Are CIBC and Aeroplan preparing for divorce?

1369933262834604.jpg

On Thursday, May 30, CIBC President and CEO Gerry McCaughey said during a conference call that CIBC is preparing for  alternative options in case it decides not to renew its Aeroplan credit card agreement with Aimia, which is set to expire at the end of the year. “While the launch of the alternative card would result in short-term costs for ... Read More »