Credit Cards

Thoughts on Credit Card Surcharges

Back in the fall of 2022, credit card surcharge changes came into effect. Basically, Canadian businesses are now able to pass on credit card surcharge to their customers. The real question was how many merchants would decide to pass on the fee?

The new rule allows merchants to charge consumers “interchange or swipe fees” for every transaction, commonly known as payment processing fees.

Updated “Understanding Credit Cards” Due to Changing Times

We generally have 2 types of article, posts (more date sensitive) and pages (more up to date information). Posts are what we publish regularly that is date stamped. So the information provided in the post, is date sensitive. However, the ongoing updated pages are found on the menu bar. These pages are updated regularly, so you will not see the historic information, as they are deleted once updated.

A week ago, we updated our Pointshogger 101 page, which is really the first page that we recommend new people to read. The second page to read is the “Understanding Credit Cards” page. After reading these two pages and establishing some foundation, the main posts will make a lot more sense.

Beware of Credit Card Interest Rate Drops

Looks like the big banks across Canada are looking to reduce interest rates on credit cards to provide relief to customers affected by COVID-19 pandemic.


Let’s just make this clear up front on this post. If you are someone who has no other options than to use a credit card to pay for bills during the crisis, and you are receiving an interest rate reduction, definitely take it.

Tiers / Levels of Credit Cards (updated December 2, 2019)

We last wrote a post about this topic back in 2015, so no doubt this was due for an update.

The topic today is to discuss the different types of credit cards in Canada. The three primary credit card companies are: American Express, MasterCard and Visa. However, each company have different tiers of cards. Each level offers different benefits.

Tiers of Credit Card

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Ranking the Credit Card Portfolios of Each Canadian Financial Institutions (updated February 1, 2016)

This is not going to be an easy post to write, but I did want to try to pin each financial institution against each other to see how they fair. This is going to be a very subjective post where I am going to rank each each company based on their overall credit card portfolio. I am also going to list out some of the top credit cards offered by each institution.