The battle between Visa and Walmart over credit card interchange fees just got more intense. Visa is now offering its cardholders in Thunder Bay, Ontario, a $10 rebate when they use their Visa card to spend at least $50 at any supermarket.
Visa Update: Visa Offers $10 in Free Groceries to Shop Somewhere Else
Posted November 14, 2016 in NewsCelebrating the Importance of Financial Literacy in November
Posted November 3, 2016 in Personal Finance
November is a busy month. We have “Movember,” an annual event where men grow mustaches to raise awareness of cancer. Clocks go back an hour for daylight saving time in most provinces. If that wasn’t enough, November is also financial literacy month. Financial literacy affects so many areas of our lives, such as our finances and the relationships with loved ones. Let’s take a look at what financial literacy is and why it matters so much.
While being called thin or slender in terms of your physique is often considered a good thing, having a “thin” credit file isn’t. A thin credit file is a special insider term used by the credit reporting agencies. Equifax and TransUnion consider your credit file thin if they lack sufficient information to calculate a credit score for you.
MasterCard and Visa Lower Credit Card Interchange Fees, But is It Enough?
Posted October 3, 2016 in News
Credit card interchange fees have been in the spotlight lately. Interchange fees may be invisible to consumers, but they sure aren’t for merchants. Canadian merchants pay among the highest interchange fees worldwide – between an estimated $5 and $7 billion annually. Merchants have long been lobbying for lower interchange fees. Merchants got their wish a couple years ago. With the federal government threatening to step in and regulate interchange fees, starting in November 2014 MasterCard and Visa voluntarily agreed to cap their interchange fees at 1.5 percent for the next five years.
Walmart vs. Visa Update: The Visa Ban Spreads to Manitoba Walmart Locations
Posted September 21, 2016 in News
There aren’t any signs the dispute between Walmart and Visa (dubbed “Goliath vs. Goliath”) is going to end anytime soon. In fact, retail giant Walmart has upped the ante, announcing last week it is expanding its ban on Visa credit cards to the province of Manitoba. Starting October 24th, Walmart will no longer accept Visa at all of its 16 locations in Manitoba. This follows Walmart no longer accepting Visa at its three Thunder Bay locations in July.
Pickpocketing has evolved over the years. Tried-and-true ways to stop thieves in the past such as money belts, secret pockets, and backpack stash spots, may no longer be enough. In the old days, the thief would need to steal your wallet in order to obtain your credit card information. How times have changed.