Debt Levels Up, Delinquencies Stable, Subprime Soars

Posted May 24, 2016 by cccadmin in ,

Subprime Credit Card Debt Rising

TransUnion released its consumer debt stats for the first quarter of 2016. The credit reporting agency found the average Canadian owed $21,348 in consumer debt (excluding mortgage) at the beginning of 2016. That represents an increase of 2.71 percent from the first quarter of 2015. Installment loan (4.83 percent), auto loans (2.12 percent) and credit cards (1.80 percent) all saw increases. The sole exception was lines of credit, which declined by 0.54 percent.

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The Good, Bad and Ugly of Joint Credit Cards

Posted May 17, 2016 by cccadmin in

Joint Credit Card Problems

Most people know about joint chequing accounts, but how much do you know about joint credit cards? When you’re the co-signer on a credit card with someone else – your spouse, adult child, cousin, etc. – you’re considered joint borrowers. While joint credit card accounts can make earning reward points easier, it’s important to understand the downsides.

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Aeroplan Cardholders Can Now Use Points to Cover Surcharges, But Is It Worth It?

Posted May 9, 2016 by cccadmin in

Air Canada Boeing 767-300

Ever since acquiring the rights to issue Aeroplan cards, TD Bank has done an excellent job in addressing cardholder complaints. Last year we wrote about a number of significant improvements TD Bank introduced for its popular travel rewards program. Among the improvements, fixed and classic plus were introduced, making it easier to book flights, and tiers were added to its membership.

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May the 4th Be With You

Posted May 4, 2016 by cccadmin in

In honour of the worldwide observance of Star Wars day we bring you the best possible way to show your inner nerd – with Star Wars branded credit cards.

These cards, issued by Chase, are part of the Disney Visa series. Sadly, these cards are not available in Canada.

Star Wars Credit Cards

Which credit cards are accepted at Costco?

Posted May 3, 2016 by cccadmin in

Costco Storefront

The partnership between Costco and American Express came to an end in late 2014. Starting January 1, 2015 Capital One took over as the sole issuer of Costco branded credit cards which bare the MasterCard logo. There’s still some confusion about which credit cards are accepted at Costco’s 89 Canadian warehouse locations.

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3 (More) Mistakes to Avoid When Applying for a Credit Card

Posted May 2, 2016 by cccadmin in

Concerned Woman

Last week we looked at three mistakes to avoid when applying for a credit card. This week we thought we’d revisit the topic.

Credit cards outnumber people in Canada. There are about two credit cards for every person – and that’s a lot of credit card applications considering not all get approved. When you’re bombarded with credit card applications right, left and centre, it’s easy to make a mistake when signing up. Without further ado, here are three more mistakes to avoid when applying for a credit card.

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