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Credit Card News

P.F. Chang’s Latest To Have Credit Card Data Stolen

credit card fraud

P.F. Cang’s, which has over 204 locations, including 3 in Canada, has confirmed that there was a data security breach resulting in credit card and debit card information being stolen from cards used at its restaurants. To plug the whole, P.F. Chang’s has stopped accepting credit cards electronically, until it resolves the security breach. At present they are imprinting cards ... Read More »

Scotiabanks Buys 20% Stake in Canadian Tire Financial Services

canadian tire scotia 20% partnership

TORONTO, ON–(Marketwired – May 08, 2014) – Canadian Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) and Scotiabank (TSX: BNS) (NYSE: BNS) today announced a far-reaching strategic partnership that creates unprecedented opportunities for joint marketing to drive new business growth. The agreement will see Scotiabank acquire a 20% equity interest in Canadian Tire’s financial services business for $500 million in cash. Scotiabank will also provide a funding commitment to Canadian ... Read More »

New Regulations of Canadian Pre-Paid Debit Cards Announced

pre-paid debit cards

Joe Oliver, Minister of Finance, will be announcing new regulations of Canadian pre-paid debit cards today. The new regulations, which come into effect today, Wednesday April 30, will require all fees for prepaid card to be disclosed on an information box on the cards packaging. In addition, issuers of pre-paid cards will no longer be allowed to attach an expiry date ... Read More »

Hacked Twitter Accounts Worth More Than A Hacked Credit Card

Hacked Twitter Accounts Worth More Than Credit Cards

The Wall Street Journal reports that stolen Twitter accounts are now more valuable than credit cards on the black market. According to research provided by the Rand Corporation it’s all about supply and demand. The study found that high-profile data breaches — think Target, TJX, PlayStation — create massive surges of available credit card data online. The more cards on the market, the less ... Read More »

Are Dual Currency Credit Cards A Good Idea For Canada?

Dual Currency Credit Cards

The Financial Supervisory Commission of Hong Kong has approved the plan from Taiwanese banks to issue duel-currency credit cards, allowing cardholders to pay in self-designated foreign currencies, typically between the Taiwanese HKD and the Chinese RMB. It will take between eight and 12 months for the new credit cards to become available since banks first have to overcome some technical ... Read More »

American Express Canada Launches New Gold Credit Card With 2% Cash Back Rebate

American Express Gold Card with Cash Back

TORONTO – American Express Canada is enhancing its line of credit cards with the introduction of the American Express Gold Card with Cash Back. It’s making an aggressive re-entry into the Canadian cash back credit card market, with the only offer on the marketplace offering up to 2% cash back on all purchase categories. The move comes with Canadians increasingly looking ... Read More »

Canadian Credit Card Debt Rising, Delinquencies Falling

Canadian credit card debt rising

TransUnion’s quarterly analysis of Canadian credit trends found that credit card debt is increasing while credit card delinquencies are decreasing significantly. The average consumer’s total debt (excluding mortgage) in Q4 2013 increased marginally to $27,368 from $27,355 in Q3 2013. This quarterly increase of 0.05% was the lowest observed since a (-0.04%) decrease in Q3 2011. On a year-over-year basis, ... Read More »