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Credit Card News

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 »

Capital One Canada Enters The Battle For Canadian Wallets With Strong Product & Funny *** Humour

capital one canada aspire martin short

Capital One Canada has launched a new, and hilarious, national marketing campaign with Martin Short as their spokesperson. As the battle among banks heats up for wallet-share with record welcome bonuses, annual fee waivers and other juicy incentives, Canadians are re-evaluating their travel rewards card options. The Capital One campaign focuses on one of the biggest pain points of travel ... Read More »

Canadian Consumer Debt Predicted To Rise To Record Levels of $28,853 Per Consumer

Canadian consumer debt rises

Canadian consumer debt is expected to soar to a record $28,853 by the end of 2014, from the current average excluding mortgages of $27,743, while delinquencies are expected to decline. In its forecast of Canadian consumer debt, TransUnion predicts “the average Canadian consumer’s total debt is expected to rise by four percent in 2014, which would be more than $4,500 ... Read More »

40 Million Credit Card Accounts Compromised at Target

Target Credit Card Breach

Target says approximately 40 million credit and debit card accounts may have been compromised by a data breach in its U.S. stores between Nov. 27 and Dec 15th. For now, it is not believed credit cards, used in Canadian Target stores, have been affected. Anyone who has used a credit card at Target recently is encouraged to review their statements ... Read More »

Canadian Credit Card Debt Increases Moderately to $78 Billion in Outstandings, Delinquency Rates Drop

card growth

Equifax Canada’s Q3 2013 National Consumer Credit Trends Report reveals that Canadian consumer debt is increasing, credit card debt less so, and delinquency rates are falling. While rising balances and lower delinquencies are attributed to a growing economy, Canadians remain exposed to a stalled economy or rising rates. Both could have a quick and dramatic impact on the ability of ... Read More »

Google & RBC Launch Adwords Business Credit In Canada

Adwords Business Credit Launches in Canada

Google and RBC have quietly launched Adwords Business Credit in Canada. An innovative financial product, available by invitation only, it offers a credit line to small businesses exclusively  for the purposes of funding Adwords campaigns. As an incentive to apply, new cardholders are being provided a free Nexus 7 tablet if they get approved for the card and spend $250 ... Read More »