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Credit Card News

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 »

Desjardins Acquires Best Buy Credit Card Program

best buy credit card

Best Buy Canada, operator of Best Buy and Future Shop, and Desjardins Group, the largest Credit Union in Canada, have announced a new partnership. The partnership will have Desjardins, through its Card and Payment Services business unit, acquiring both the Best Buy Canada and Future Shop private-label credit card portfolios. The deal adds to Desjardins’ expanding portfolio of national retail credit card ... Read More »

Canadian Economy Slows: Credit Card Debt Remains Safe

credit card report

As Canada’s economic forecast takes a turn for the worse, Canadian credit cards are still predicted to be a strong performer for banks, according to Fitch Ratings in a recent report. ‘Canadian consumers are facing higher household debt burdens primarily tied to rapidly rising mortgage borrowing and disappointing productivity growth,’ said Managing Director Michael Dean. ‘That said, credit card portfolios ... Read More »

Barclaycard tests ‘tap &go’ payment gloves

Contactless payment gloves

Barclaycard in the UK, has started testing “tap & pay” woollen gloves that can be used to make payments in the same way that you would use contactless cards. “The cosy woollen gloves, which are also touchscreen-enabled so shoppers can use their mobile phones while on the move, act like your credit or debit card and can be used to make ... Read More »

Toronto Public Transit Accepts Credit Cards As of Jan 1, 2015

ttc credit card

Finally! Torontonians will soon be able purchase subway fares with their credit or debit cards. Beginning Jan. 1, 2015, TTC riders can use their credit or debit cards to buy ten or more single fares or any multi-fare pass at all 69 subway stations throughout the network. Tory was critical of the city’s outdated cash-only system currently in place for ... Read More »

New Canadian Credit Card & Loyalty Digital Wallet Launched

Ugo Digital Wallet

TD Canada Trust and President’s Choice Bank have launched Ugo, a mobile wallet. Time will tell if it’s Canada’s answer to Apple Pay. UGO Wallet is a digital wallet app that lets you pay with a credit card loaded onto your phone and collect loyalty points from your favorite loyalty programs. You can pay using the participating credit cards you add ... Read More »