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Credit Card News

Tangerine Shakes The Tree – Launches New Canadian Credit Card

tangerine money-back credit card

Tangerine, Scotia’s online bank, has announced the launch of its new Tangerine Money Back credit card. It is now available to the general public, and it’s shaking up the landscape! The card offers an extremely innovative and competitive cash back program. There is no annual fee and it offers money-back rewards that are deposited automatically into a savings account or against ... Read More »

Scotia Launches New GM VISA Credit Card in Canada

Scotia GM Credit Card

Scotia Bank and GM have partnered to offer a new no annual fee co-branded credit card with a very rich rewards program. The program has already launched, and will offer cardholders a robust 5% in GM earnings on the first $5,000 spent on the card, and 2% thereafter. TD used to partner with GM, but the program was terminated shortly after ... Read More »

Scene Devalues Its Points – Make The Most of It.

Scene changes

As most of the country has already heard, the ever so popular Scene Rewards program is changing the way members can earn and redeem some, not all, Scene points. Despite the disapointment, we have a few tips to make the most of the situation. First, we want to make clear the change does not impact redemptions on general admission tickets. ... Read More »

Canadians Take On Record Levels of Debt, Save Less, But Remain Optimistic

BMO Canadian Consumer Debt Report

According to BMO’s recent report on Canadian consumer indebtedness, 80% of Canadians are in debt, owing on average of $93,000. According to Equifax, in an earlier report, Canadian consumer debt excluding mortgages averages $20,910. While consumer debt levels are rising, BMO’s research indicated Canadians are less stressed – a sign of their confidence in their ability to repay. Confirming sentiment, ... Read More »

Capital One Canada and Delta End Credit Card Partnership

delta capital one canada

Change continues in the Canadian credit card landscape. In the last few years we’ve seen TD acquire the Aeroplan credit card program, CapOne win the Costco deal, RBC take on Shoppers DrugMart, Scotia buy into Canadian Tire, Target disappear, and who knows what’s going to happen to Sears Canada’s program with Chase. Now we’re seeing the much smaller Capital One ... Read More »

Credit Cards Are The Favourite Payment Method of Canadians

TSYS Canada

TSYS announced the results of its 2015 Canadian Consumer Payment Choice Study. The online survey of over 1,200 Canadians, found that when given a choice, 46 percent of Canadian consumers prefer to pay using their credit cards. That’s a 34% increase over 2014. “Consumers have more payment options than ever before due to the continuing proliferation of new technology and ... Read More »

A Sex Pistols Credit Card. Really?

They fought against the establishment and mocked consumerism, and now the Sex Pistols have officially declared the end of Punk. With the launch of a new series of Sex Pistols credit cards in the U.K. in partnership with Virgin Money, it’s clear Punk is dead and so is its message. “It’s time for consumers to put a little bit of ... Read More »

Ottawa Announces New Credit Card Code of Conduct Rules

credit card voluntary code of conduct

Finance Minister Joe Oliver announced this week that Ottawa will be strengthening the voluntary Code of Conduct. Beginning this week, credit card issuers will have 30 days to fall in line with the Conservative government’s new rules intended to  address unfair business practices and improve transparency for merchants and consumers. Specifically, the new guidelines suggest that processors and the associations not ... Read More »

The Ticking Time Bomb of Canadian Consumer Debt

Canadian Consumer Debt

Canadian appetite for consumer debt continues to grow, with total debt including mortgages now standing at $1.529 trillion, according to Equifax’s Q4 National Consumer Credit Trends Report. The average debt held by Canadians, excluding mortgages is now at $20,967, with debt-to-income ratios at an all time high of 163% according to Statistics Canada. Growth in Canadian consumer debt was primarily ... Read More »

Capital One Canada Discontinues Aspire Travel World MasterCard

aspire world mastercard

Capital One Canada has discontinued its Aspire Travel World MasterCard, previously one of the richest travel rewards cards in the Canadian Marketplace. Capital One Canada has recently sent out letters to cardholders indicating that existing cardholders will continue to receive the same rewards rate and anniversary bonuses as they enjoy today. Capital One Canada has replaced the Aspire Travel World MasterCard ... Read More »