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Credit Card News

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

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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 »

CIBC, AIMIA win big in workout of Aeroplan program with TD

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Today, Aimia announced that CIBC, TD and Aimia have agreed on a go forward plan that would see CIBC sell its non-relationship Aeroplan credit card accounts to TD, and then have the ability to retain the right to offer an Aeroplan credit card to its customers. TD would then convert the non-relationship Aeroplan accounts to a TD Aeroplan account and ... Read More »

Rogers To Launch Credit Card in 2014. What’s Behind The Decision?

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On September 6th, Rogers Communications announced that it received permission from OSFI to issue credit cards. Earlier last year Rogers registered a bank subsidiary, which at the time was largely regarded as a precursor to issuing its own credit cards. Rogers has now confirmed that it intends to start issuing credit cards as early as 2014. “Our credit card business ... Read More »

TD, Aimia, and CIBC Continue Portfolio Acquisition Discussions

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TD, Aimia, and Canadian Imperial Bank of Commerce announced this morning that they are continuing talks in connection with the possible acquisition by TD of part CIBC’s existing Aeroplan credit card portfolio. On August 12, 2013, Aimia announced that TD will become the primary credit card issuer of the Aeroplan program as of January 1, 2014. The parties have been ... Read More »

Capital One Mistakenly Pre-Approves Minors for Credit Cards in Quebec

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Radio announcer Paul Arcand of Montreal’s 98.5 FM, reported that Capital One Canada mailed credit card offers to minors in Quebec. In addition, it was reported that Capital One also pre-approved minors for offers of credit. Asking his listeners if any of them had received similar offers, the station received a flurry of calls confirming Capital One’s gaff.  In all ... Read More »