Summer’s winding down, but there’s still a little time to getaway this year. When travelling by air, it’s often necessary to rent a vehicle for extended stays, or to explore more than just the resort. Before you get behind the wheel of a rental car, it’s important to find out if you’re protected in the event of a crash.
For a lot of Canadian families, a car is the second most expensive purchase after housing expenses. While you can pay for a new vehicle with a car loan, some people prefer saving up and paying for a vehicle in cash. Would you be excited if you found out you could earn rewards towards a new Chevrolet, Buick, GMC or Cadillac simply with your everyday shopping? With the new Scotiabank GM VISA Card, that dream is now a reality.
Scotiabank and GM have teamed up to offer two new co-branded credit cards that offer one of the richest rewards programs on the market. Scotiabank has a track record of coming out with credit cards Canadians love and these new offerings are sure to be a hit.
A recent news article provides a grim reminder that credit cardholders must try their best to protect their PIN – or else they could be held liable for fraudulent charges. A Scotiabank cardholder recently found this out the hard way. She was originally on the hook for $4,000 in fraudulent charges. Apparently, it wasn’t until the media got a hold of the story that Scotiabank backed away, offering her a $4,000 settlement.
If you don’t go over your credit card statement with a fine tooth comb, you could be paying hundreds of dollars in extra charges without even knowing it. Each month thousands of people are falling victim to “grey charge”s on their credit card. There are an estimated 233 million grey charge a year, totaling $14.3 U.S. billion, according to a 2013 Aite Group report.
Are you obsessed with credit card reward points? You’re not alone. The Financial Post wrote an interesting article on an alarming trend of consumers racking up credit card debt, just to earn reward points.
Canadians are up to their ears in debt, but at least It’s mostly the “good” type. The average Canadian was $93,000 in debt in June 2015, up from $76,140 last year, according to a Bank of Montreal report. The report looked at overall household debt in the country. The top two types of debt for most Canadians is credit card debt and mortgage debt.
