<-- !Begin Adoric Script -->

Credit Card News

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

1378757397304259.png

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 »

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

1377544392435595.png

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 »

Capital One Canada Delta Sky Miles Adds Priority Boarding

1377521588186842.jpg

In a move that continues the trend of ever increasing value propositions, Capital One Canada has added Priority Boarding to its Delta Sky Miles Canadian credit card. Andrew Clarke, spokesperson for Capital One Canada, says  “on Monday, August 26, all current and future Capital One Delta SkyMiles World MasterCard customers will benefit from Priority Boarding on all Delta and Delta ... Read More »

TD, Aimia, and CIBC Continue Portfolio Acquisition Discussions

1377524720061329.jpg

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 »

TD Wins Aeroplan Sweepstakes. Ousts CIBC.

1376316519501434.jpg

The deadline has passed and CIBC has not matched TD’s offer to retain the Aeroplan partnership. As of January 1st TD will start to issue Aeroplan credit cards. According to CIBC, instead of matching the entire offer it is trying to negotiate the retention of its relationship accounts (credit card holders it has a core banking relationship with), in return ... Read More »

Canadian Tire Seeks Partner For Its Credit Card Business

Scotia Buys 20% stake in Canadian Tire Financial Services

Canadian Tire Corp (CTCa.TO: Quote), best known for its automotive and homeware stores, said it would seek a financial partner for its C$4.4 billion credit card portfolio to reduce funding risks. The company did not provide details but said the proposed partnership would help it in its efforts to integrate its financial services business with its retail operations. In all likelihood, ... Read More »

RBC Expects to Win Over New Cardholders If CIBC Loses Aeroplan to TD

1375997128075397.jpg

According to Bloomberg, Royal Bank of Canada (RY) expects to gain more credit-card customers if Canadian Imperial Bank of Commerce loses its card partnership with loyalty rewards operator Aimia Inc. (AIM) toToronto-Dominion (TD) Bank. We’ve been saying this for a while at GreedyRates.ca, if the Aeroplan program changes hands, Canadian consumers will have a field day picking through offers from RBC, TD, CIBC, BMO, Scotia ... Read More »

Compulsive Shoppers Are Materialistic. Max Credit Cards to Boost Mood

1375801588879641.jpg

Why do shopping addicts keep spending even in the face of harmful financial, emotional and social consequences? A new study suggests poor credit management and a belief that new purchases will create a happier life fuel compulsive buying. Approximately 10 percent of adults in Western countries are believed to have a compulsive spending disorder that leads them to lose control ... Read More »

How Much Are Canadian Merchants Really Charged by Visa & MC?

1374590523519779.jpg

With the Canadian Federal Competition Tribunal set to provide its ruling on whether merchants should be able to surcharge or not honor all Canadian credit cards, there seems to be quite a bit of misinformation regarding how much merchants are actually being charged for different types of credit cards. Here is our understanding of the latest interchange rates (%) being ... Read More »