Credit card

Is it Time for a New Credit Card?

Pointshogger reader, Danielle Lauzon, from Fintel Connect, sent us a very relevant question: “Is this the time for a new credit card?”  We will respond to this with a short and long answer below. Thank you for taking the time to reach out to us Danielle!


Is it the time for a new credit card?

Short Answer: No

Let’s get the elephant out of the room first, NO, it is not the time to get a new credit card if you cannot pay your balance in full.

Top 8 Reasons for Not Having a Credit Card

Do you ever wonder why people who are eligible for a credit card do not own a credit card? Pointshogger decided to look a little more into this by speaking with a few people and doing a bit of research on our own.

1) Credit Cards are Not Safe. Most people believe that using a debit card or using cash is a better option than using a credit card as it is safer. Many credit cards actually protect you during travel and purchases. For example, price protection means that if you find a lower regular price of an item with 60 days from the day of purchase, you may get reimbursed for the price difference. This is something cash or debit card does not offer.


How to Encourage Customers to Retain their Credit Cards

There have been rumours that American Express might no longer allow customers to churn their credit cards. We will see if there is any truth to this rumour in the coming months. Churning is the process of signing up for a credit card, then cancelling and signing up for the same credit card again later on. Some credit card companies only allow you to get one sign up bonus per lifetime.

There are so many reasons why people want to churn. Here are some of the possible reasons:


[ANALYSIS] Best Laurentian Bank Credit Cards

Last time, we wrote about the top credit card at one of the more low profile banks, HSBC Canada. This time around, we’re looking at another low profile bank, Laurentian bank, to see if there is a hidden gem. The Laurentian bank website is definitely not user-friendly at all, but I managed to rumble through the site to figure out what types of products they offer.