Category: News

Keeping Your Credit Card Safe from the Heartbleed Bug

Posted April 17, 2014 by CCC Staff in ,

Heartbleed Credit Cards

We can’t seem to get enough of online shopping. Canadians spent a whopping $18.9 billion online in 2012, according to Statistics Canada. Over half of Canadians (56 per cent) made an online purchase, spending an average of $1,450 over 13 transactions. If you’re one of the millions of Canadians who shopped online, chances are you used your credit card at least once.

Last Monday news broke about the biggest internet security breach in history. The Heartbleed bug left the passwords of up to 66 per cent of all Internet accounts vulnerable. Earlier this week Canada Revenue Agency said that 900 SINs were stolen due to the bug. Not only are usernames and passwords fair game for hackers, credit card numbers are, too.

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Canadians Leveraging Up, But Using Credit Cards for the Perks

Posted February 24, 2014 by CCC Staff in ,

Rewards Credit Card

Given the economic climate, it’s not surprising that many Canadians are taking more control of their household debt. What’s more, statistics indicate that they’re using credit cards more responsibly by paying off their balances more quickly – and often within the same billing cycle.

According to a Royal Bank of Canada report, during the year ending in December 2013, personal debt rose by only 3.9 percent, representing the slowest yearly growth since 1995. It’s true that the debt-to-disposable-income ratio for Canadians escalated to a record-breaking 163.65% during the third quarter of 2013, but according to industry analysts from Fitch Ratings, credit cards have not played an overall part in this leveraging trend. The Fitch report goes on to say that, while there has been a growth in card spending volume, Canadians are tending to pay off their entire balances every month.

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CIBC Announces Tim Hortons Credit Card

Posted February 20, 2014 by CCC Staff in

Niloo Photo Credit – Niloo

Double Double addicts around the nation are shaking with delight, but this time it’s not the caffeine causing the jitters. Instead, it’s exciting news announced today by CIBC and one of the largest publicly-traded restaurant chains in North America – Tim Hortons. Both companies announced they will be launching a co-branded credit card, which will offer loyalty rewards to Timmie Fans and CIBC clients.

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RFID Wallets: Do They Really Work?

Posted January 14, 2014 by CCC Staff in ,

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You may have seen those ads on TV – the ones where the suspicious-looking character with the hand-held device sneaks past the unsuspecting pedestrian. In just the blink of an eye — voila! The victim’s complete credit card information has been stolen by the sneaky, device-wielding thief.

Unfortunately, this isn’t merely a worst-case scenario dreamed up by an over-imaginative marketing department; it’s urban fact. Thanks to modern technology, a criminal can steal your identity by simply walking past you and recording your credit card information, using a hand-held electronic card reader that anyone can purchase for less than $100. This device has the capability to instantly skim information from the radio frequency identity (RFID) chip imbedded in your credit cards. Your credit card information will then be displayed on a computer that’s equipped with a magnetic strip-writing device, which can be used to counterfeit a new card.

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American Express Canada To Launch New Premium Travel Credit Card

Posted November 15, 2013 by CCC Staff in

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American Express Canada, Aeroplan and AirCanada announced a new multi-year partnership that will extend the already long relationship between the three companies.

The announcement confirms Amex Canada will continue offering AeroplanPlus cards for both consumers and corporations, while Aeroplan will continue to participate in the Amex Membership Rewards Program allowing cardmembers to transfer AMEX points to Aeroplan on a 1:1 basis.

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TD Canada Trust & CIBC Cardmembers: Facts About Aeroplan Deal

Posted September 26, 2013 by CCC Staff in

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Sometimes in a relationship you just want out, other times you’re willing to ‘see other people.’ The latest drama in the Credit Card Soap Opera shows CIBC is willing to let Aeroplan see other people, instead of calling it quits all together.

The Globe and Mail recently reported that TD Bank and CIBC agree to split current Aeroplan accounts and share the role of being Aeroplan providers for the next 10 years. Many Aeroplan cardmembers with TD Bank and CIBC are outraged and confused by the news, stating they have yet to hear directly from the banks about the upcoming switch. We’ve put together a quick breakdown for current confused cardholders…

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