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Credit Card News

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 »

TD Enhances Credit Card Travel Insurance Coverage For Cardholders

TD Credit Card Travel Insurance

TD is enhancing the travel insurance coverage of its premium travel cards effective March 30, 2016. Improvements will be applicable to both existing and new cardholders on the TD Aeroplan Visa Infinite, TD First Class Travel Visa Infinite and the TD Aeroplan Infinite Privilege card. At no additional cost to cardholders, enhancements will be seen on travel medical, trip cancellation ... Read More »

American Express Membership Rewards Fixed Redemption Promotion

american express fixed redemption option

Until May 31st, 2016, American Express Canada is offering fixed round-trip redemptions to over 50 locations. Your Amex membership rewards points will cover your base ticket price – excluding taxes and fees. Fixed point redemptions are similar to RBC Avion or CIBC Aventura in that you redeem a defined number of points up to a maximum ticket price then pay for ... Read More »

Aeroplan Launches New Mobile Booking App For Members

Aeroplan Mobile App

Aeroplan has unveiled a new mobile app members can use to book flights using their Aeroplan Miles. Customers with iPhones, Android and Blackberry mobile devices can now download the app from the Apple App Store, Google Play Store or Blackberry App World. It works as follows: Under the ‘Use Your Miles’ section, select ‘Book a Flight.’ A Flight Rewards search form will ... Read More »

National Bank of Canada Establishes Credit Card Partnership With CAA

National Bank CAA Credit Card Partnership

National Bank has signed an agreement with the Canadian Automobile Association (CAA) for the launch of the National Bank CAA Rewards MasterCard credit card further to the acquisition of Bridgewater Bank’s portfolio of 42,000 CAA credit cards. As a result, CAA members across seven regional CAA clubs, not including Quebec, who have a CAA credit card will receive the new ... Read More »

Canadians Continue Abandoning Cash, Move Towards Plastic

credit card, cash, mobile payments

Looks like the putsch is almost complete! Cash is slowly being dethroned as king, with electronic payments ruling the roost. According to a survey recently conducted online with over 1,000 Canadians by consumer research firm GfK, credit and debit card transactions now exceed cash transactions by a significant margin. In 2015, 42% of Canadian transactions were made with credit cards, 28% ... Read More »