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Credit Card News

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 »

Capital One Canada Delta Sky Miles Adds Priority Boarding

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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 Wins Aeroplan Sweepstakes. Ousts CIBC.

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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 »