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Credit Card News

Class Action Launched Against LoyaltyOne – Lessons Learned

air miles class action lawsuit

A class action lawsuit has been filed for certification against LoyaltyOne, owners of the Air Miles loyalty program. On Dec 31, 2011, Air Miles announced that all points accumulated prior to that time, would expire within 5 years, at Dec 31, 2016. Moreover, all points accumulated thereafter, would also automatically expire 5 years after they were accumulated. According to the ... Read More »

WalMart Canada Extends Visa Ban To Manitoba – Good For Consumers?

walmart canada visa manitoba credit card fees

Walmart Canada announced that if Visa does not lower its interchange rates, it will no longer accept Visa credit cards in 16 of its stores in Winnipeg starting October 24th, 2016. Walmart has already stopped accepting Visa credit cards in 3 of its stores in Thunder Bay, Ontario. A spokesman for Walmart said “unfortunately Visa has not been willing to provide ... Read More »

Why Air Miles’ Expiration Policy Is Wrong

Air Miles Expiration

By now, most Canadians have read about the impending expiration of Air Miles rewards on December 31, 2016 and the flack Air Miles has received for making it difficult for customers to redeem their points as the expiry date approaches. Bad things happen when finance runs a consumer marketing company. This is a great case study. We clearly respect the ... Read More »

Is Walmart Canada Willing to See Its Fight With Visa Through To The End?

visa versus walmart canada

The ever so public negotiation between Walmart Canada and Visa is getting even more public and vicious. In response to Walmart’s press release announcing Walmart will terminate its relationship with Visa, Visa issued an open letter stating that Walmart “is unfairly dragging millions of Canadian consumers into the middle of a business disagreement that can and should be resolved between our ... Read More »

The Shot Heard ‘Round The World: Walmart Tentatively Terminates Visa Canada

walmart terminates visa canada

Buried in a press release this weekend, Walmart Canada announced it “will no longer accept Visa in our stores across Canada.” Walmart’s stated reason is that it has “concluded the fees applied to Visa credit card purchases remain unacceptably high.” That’s a very public war between two corporate behemoths. However, there is reason to believe that Walmart’s decision is not final, ... Read More »

Scotiabank Wins “More Rewards” Credit Card Program

More Rewards Scotia Visa Credit Card

Continuing its aggressive push into Canada’s co-branded credit card space, Scotia recently launched the “More Rewards” credit card program, replacing incumbent issuer MBNA Canada. While the credit card program may benefit from the expansion of the More Rewards loyalty program to even more partners, ultimately we think the program doesn’t offer shoppers near the value they can get from using ... Read More »

Trend of Rising Canadian Credit Card Rates & Fees Continues

credit card fees and interest rates

Many Canadian credit card issuers have raised rates and fees recently. Scotia and National Bank of Canada are the latest. We believe market dynamics will continue to force Canadian credit card issuers to find ways to increase portfolio profitability. We explain below. Scotia Bank Changes Scotia has announced that effective August 1st, 2016, they will either be adding or increasing ... Read More »

Apple Pay Expands Into Canada With Major Banks

apple pay

Multiple Canadian credit card and Interac issuers have announced they will be launching Apple Pay today. RBC, CIBC, ATB Financial and Canadian Tire Financial Services have all announced they will be offering their products on Apple Pay. TD, Scotia and BMO have indicated they will be offering Apple Pay to their customers in the coming weeks and months. All three ... Read More »

Fly Cash Free – Pay Taxes & Fees With Aeroplan Miles

Aeroplan redeeming for taxes, fees, surcharges

Aeroplan members can now pay for taxes, fees and surcharges with their miles. A long time source of frustration for Aeroplan members, the new rule provides more opportunities for Aeroplan members to use their miles and fly entirely cash free. The option now allows Aeroplan to compete with other notable travel loyalty programs that have wooed customers with the flexibility ... Read More »