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Tips & Hacks

Q2 2013 GreedRates.ca Canadian Credit Card Landscape Report

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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 »

Impress your date without maxing out your credit card

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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 »

Credit Card Balance Transfers: Great Savings Tool

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A Credit Card Balance Transfer is a mechanism that allows someone with a credit card to transfer their existing debt on their Credit Cards (including MC, Visa or Store cards) to another Credit Card typically at a lower rate (0%-3.99%) for an introductory period. The new Credit Card issuing bank will typically charge either a percentage of the transferred balance ... Read More »

Do Canadians Owe Taxes on Credit Card Loyalty Points? Possibly.

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Do Canadian owe taxes on credit card loyalty points? The quick answer is sometimes yes, sometimes no. If the points were collected or earned from personal use it shouldn’t be a problem. If you’re collecting points from work i.e. your employer allows you to collect points for company travel, and then reimburses you the cost of the travel, the Canada ... Read More »

Canada’s Highest Credit Card Fee? Obnoxious or Worth it?

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So what is the highest annual fee for a Canadian credit card? It’s a $699 annual fee for the American Express Canada Platinum Card. Here’s how the comparison breaks out with some of the other leading Canadian credit card programs offered by the big banks: Issuer Credit Card Annual Fee Amex Platinum   $699 Amex Aeroplan Platinum   $499 Scotia ... Read More »

Balance Transfer Credit Cards – Four Golden Rules

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Before we start let’s define what a low balance transfer credit card is for those who don’t know. A balance transfer, is when you transfer your existing credit card balance from one credit card, to a new credit card that has a lower interest rate for an introductory period. Balance transfer credit cards are an incredibly effective way to consolidate debt ... Read More »

7 Steps to Find the Right Canadian Rewards Credit Card For You

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More and more Canadians are spending their money using credit cards instead of cash or debit. There are many reasons for this, including the rising popularity of rewards programs and the proliferation in online shopping. Regardless of the motivation, we’re here to tell you who should be considering a rewards card and some of the not so obvious things to ... Read More »