Category: News

Amazon Credit Card Reader on the Way: Good News for Consumers and Small Business

Posted August 5, 2014 by CCC Staff in , Homepage

Move over PayPal and Square, you’ve got company! The battle to win over customers is heating up, as Amazon is jumping into the highly-competitive credit card space. It seems like every year we’re told it will be the year of mobile payments, yet consumers remain hesitant to give up their trusty credit card.

Amazon seems to have found some middle ground with its new device that can be used to validate credit card payments. Not only does it offer consumers a new convenient way to make purchases, it also offers small business an alternative to costly point of sale devices.

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GE Selling Credit Card Business: What it Could Mean for Cardholders

Posted July 30, 2014 by cccadmin in
General Electric Sign

Photo via flickr user chuckthewriter

General Electric (GE) recently announced they are spinning off their successful North American retail credit card division. The IPO (Initial Public Offering) of GE’s credit card division, soon to be known as Synchrony Financial, is set for this week. GE has decided to sell off its retail credit card division in an effort to concentrate on its core competencies. What does this mean for credit cardholders? Could better rewards be on the way? Let’s take a look.

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The Bank of Canada Holds Interest Rates at 1 Per Cent Yet Again

Posted July 22, 2014 by CCC Staff in ,
Bank of Canada chief Stephen Poloz and Senior Deputy Governor Carolyn Wilkins

Bank of Canada chief Stephen Poloz and Senior Deputy Governor Carolyn Wilkins

If you have a variable rate mortgage, you can relax. The Bank of Canada has decided to yet again to hold the overnight lending rate at 1 per cent. It has been nearly four years since the key interest has been frozen at 1 per cent. This marks the longest stretch in Canadian history interest rates have remained the same.

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The Great East-West Divide: Debt Up in in the West, Slowing in the East

Posted June 19, 2014 by cccadmin in , ,
Gastown Vancouver

Gastown, Vancouver, British Columbia – Photo by Kenny Louie CC by 2.0

While there may be an east-west divide in Canada’s housing market, there’s now evidence there may also be a similar divide when it comes to consumer debt. With no sign of interest rates creeping up anytime soon, consumers are continuing to pile on debt, albeit some faster than others. While demand for debt is up in Western Canada, demand for debt is slowing in Eastern Canada. Let’s break down the latest numbers and see how they affect the average family.

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How the Canadian Economy Benefits from Consumer Debt

Posted June 17, 2014 by CCC Staff in ,

Canada Debt

Consumer spending is vital to the economic growth of nations worldwide, Canada included, as long as we don’t find ourselves in over our head. While corporations are often chastised for holding a record amount of cash on their balance sheets, it’s actually consumer spending that accounts for the lion’s share of economic growth. Let’s take a closer look at Canada’s latest consumer debt numbers from RBC Economics and what they mean to the future of our economy.

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