ReportWire

Tag: credit

  • Financial paralysis and how to get moving again

    [ad_1]

    Canadians face financial pressure

      According to the data, Canadians remain under significant financial pressure, with a full 68% expressing concern about the cost of living. Almost a third (30%) of respondents are anxious about money, especially women and those making less than $50K per year, while Generation X worries about their retirement. 

      Compounding the issue, money insecurity is having a notable effect on how Canadians spend. Forty-two percent reported relying more this year on credit than cash, a 7% increase over last year’s numbers. Additionally, 48% carry debt, and 59% have more debt than last year. More than half (52%) pay off only a little bit more than a minimum amount due, resulting in higher balances—and less resilience for Canadians.

      Debt is being normalized

        A high cost of living and credit use aren’t new, but consider this: almost half of Canadians (45%) reported feeling “about the same” about their finances. Credit experts say that could be a problem. 

        “[I]t appears almost half of respondents characterize their feelings about their financial situation as being neutral when compared with last year—in other words, they are feeling numb to it,” states Peta Wales, President & CEO of the Credit Counselling Society in a press release. “Debt remains a source of stress and anxiety, and ongoing financial pressure can lead individuals to become desensitized to change, even as their balances continue to rise.”

        Invest your money or pay off debt?

        A comprehensive guide for Canadians

        Financial paralysis is a term used in the world of finance to describe the effect of money stress on some people. Signs include avoidance, inaction, and shutting down—or numbness. When in this state, simple financial tasks like using a budget, paying bills, or even checking accounts can feel beyond reach. Even worse, a person might overspend to compensate for negative feelings or out of a sense of helplessness. The primary solution—building a solid financial foundation—is a laughable suggestion to someone who’s gone numb.

        Snap out of it

          There’s no magic bullet for financial paralysis, but there are actionable strategies you can take to maneuver yourself in a strong position. That’s important, because research suggests that just like with compound interest, wins build on wins.

          Change your mind

          “Just as we learn language, customs, and social norms from the culture around us, we also absorb messages about money,” writes Nathan Astle in Psychology Today. Because of cultural money taboos, it’s difficult to talk about finances, and any perceived failure manifests as guilt and shame.

          If you want to find financial (and emotional) stability, it’s worth reaching out for help in this area. Therapists, peers, and support groups can help you untangle your feelings about money, while a financial advisor or credit counsellor can put your portfolio into perspective. 

          Article Continues Below Advertisement


          Change your habits

          Although tedious, some money habits just work. Build (and stick to) a realistic budget. Prioritize paying down your debt. Build up an emergency fund.

          Change your timeline

          You just want a lifeline when you’re drowning in debt. You feel impatient because it’s uncomfortable—and because each passing month you owe even more.

          The truth is, paying down debt is a long-term project and you’ll be better off with a realistic sense of what it will take.

          Debt doesn’t just drain your bank account—it freezes your decisions. The stress and shame can make avoidance feel safer than action, but inaction only deepens the trap. Luckily, there are ways to get moving again. Face the numbers, make a plan, act consistently, and ask for the help you need.

          Get free MoneySense financial tips, news & advice in your inbox.

          Read more about debt:



          About Keph Senett


          About Keph Senett

          Keph Senett writes about personal finance through a community-building lens. She seeks to make clear and actionable knowledge available to everyone.

    [ad_2]

    Keph Senett

    Source link

  • The complete list of credit card perks that reset each calendar year (2026)

    [ad_1]

    • Rewards rate

      • 4x Membership Rewards Points at restaurants worldwide (on up to $50,000 per calendar year in purchases, then 1x)
      • 4x Membership Rewards points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1x)
      • 3x Membership Rewards points on flights booked directly with airlines or on AmexTravel.com
      • 2x Membership Rewards points on prepaid hotels and other eligible purchases booked on AmexTravel.com
      • 1x Membership Rewards points on all other eligible purchases

    • Benefits

      • Earn up to $10 in statement credits each month when you pay with your American Express Gold Card at Five Guys, Grubhub, The Cheesecake Factory, Goldbelly, and Wine.com (enrollment required)
      • Up to $100 in annual statement credits ($50 semi-annually) when you use your American Express Gold Card on eligible purchases at U.S. restaurants on the Resy app or Resy.com
      • Up to $84 per year ($7/month) in statement credits after you enroll and pay with your American Express Gold Card at more than 9,000 U.S. Dunkin’® locations (enrollment is required to receive this benefit)

    Enrollment is required for select benefits.

    Read our full Amex Gold Card review

    • Rewards rate

      • 3% cash back at U.S. supermarkets (on up to $6,000 per year in eligible purchases, then 1%)
      • 3% cash back on U.S. online retail purchases (on up to $6,000 per year in eligible purchases, then 1%)
      • 3% cash back at U.S. gas stations (on up to $6,000 per year in eligible purchases, then 1%)
      • 1% cash back on all other purchases
      • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout

    • Benefits

      • Generous intro APR on purchases and balance transfers
      • Get up to a $7 monthly statement credit after using your enrolled Blue Cash Everyday® Card for a subscription purchase, including a bundle subscription purchase, at disneyplus.com, hulu.com, or plus.espn.com U.S. websites (subject to auto-renewal)
      • Split purchases of $100 or more into equal monthly installments with a fixed fee — select the purchase in your online account or the American Express® App to see your plan options

    Enrollment is required for select benefits.

    Read our full Amex Blue Cash Everyday review

    • Rewards rate

      • 6% cash back at U.S. supermarkets (on up to $6,000 in eligible purchases annually, then earn 1%)
      • 6% cash back on select U.S. streaming subscriptions
      • 3% cash back on at eligible U.S. gas stations and on transit, including taxis/rideshare, parking, tolls, trains, buses, and more
      • 1% cash back on all other purchases
      • *Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout

    • Benefits

      • Generous intro APR on purchases and balance transfers
      • Get up to a $10 monthly statement credit after using your enrolled Blue Cash Preferred® Card for a subscription purchase, including a bundle subscription purchase, at disneyplus.com, hulu.com, or plus.espn.com U.S. websites (subject to auto-renewal)
      • Split purchases of $100 or more into equal monthly installments with a fixed fee — select the purchase in your online account or the American Express® App to see your plan options

    The Amex Blue Cash Preferred has a spending category with a limit that resets each year:

    Enrollment is required for select benefits.

    Read our full Amex Blue Cash Preferred review

    • Benefits

      • Enjoy a $0 introductory annual fee for the first year, then $150
      • After you spend $10,000 in purchases on your Card in a calendar year, you can receive a $200 Delta Flight Credit to use toward future travel
      • Check your first bag free on Delta flights

    Read our full Delta Gold Amex Card review

    • Benefits

      • Receive a Companion Certificate on a main cabin round-trip flight to select destinations each year after renewal of your Card. Terms apply.
      • Earn up to $10 in statement credits each month after using your Delta SkyMiles® Platinum American Express Card on U.S. rideshare purchases with select providers. Enrollment required
      • Check your first bag free on Delta flights

    • MQD headstart: Receive $2,500 Medallion Qualification Dollars each Medallion Qualification Year.

    • $150 Delta Stays credit: Earn up to $150 per year as a statement credit after using your card to book prepaid hotels or vacation rentals through Delta Stays on Delta.com.

    Other Delta Amex Platinum benefits and credits include up to $120 annual Resy credit, up to $120 annual rideshare credit, and a fee credit for Global Entry or TSA PreCheck.

    Enrollment is required for select benefits.

    • Benefits

      • Receive upgrade priority over other Medallion Members within the same Medallion level and fare class
      • Receive a Companion Certificate on a First Class, Delta Comfort+, or Main Cabin round-trip flight to select destinations each year after renewal of your Card. Terms apply.
      • Enjoy 15 complimentary visits to the Delta Sky Club® when you fly Delta, and unlock unlimited visits after spending $75,000 in purchases in a calendar year

    Other Delta Amex Reserve benefits and credits include up to $240 annual Resy credit, up to $120 annual rideshare credit, and a fee credit for Global Entry or TSA PreCheck.

    Enrollment is required for select benefits.

    Read our full Delta Reserve Amex Card review

    • Benefits

      • $0 annual fee
      • Spend $20,000 on eligible purchases on your Card in a calendar year and earn an upgrade to Hilton Honors Gold status through the end of the next calendar year
      • Enjoy international travel without additional fees on purchases made abroad

    Read our full Hilton Honors Amex Card review

    • Benefits

      • Earn a Free Night Reward after you spend $15,000 on eligible purchases in a calendar year
      • Spend $40,000 on eligible purchases on your Card in a calendar year and earn Hilton Honors Diamond Status through the end of the next calendar year
      • Enjoy international travel without additional fees on purchases made abroad

    Read our full Hilton Honors Amex Surpass Card review

    • Benefits

      • Complimentary Hilton Honors™ Diamond status
      • Every six months, get up to $200 in statement credits on eligible purchases made directly with Hilton Resorts
      • Annual free night reward
      • Earn up to $200 back per year ($50 in statement credits each quarter) on eligible flight purchases directly with an airline or through AmexTravel.com
      • Earn up to $209 in annual statement credits when you pay for an auto-renewing CLEAR Plus Membership with your card

    Another Amex Hilton Aspire benefit includes up to a $100 property credit at participating hotels.

    Read more: 7 things to know about the Hilton Aspire Card

    • Rewards rate

      • 6x Marriott Bonvoy points for each dollar of eligible purchases at hotels participating in Marriott Bonvoy
      • 4x points at restaurants worldwide and U.S. supermarkets (on up to $15,000 in combined purchases at restaurants and U.S. supermarkets per calendar year, then 2x points)
      • 2x points on all other eligible purchases

    • Benefits

      • Earn up to 18.5x Marriott Bonvoy® points for every $1 spent on eligible purchases at hotels participating in Marriott Bonvoy: Earn 6x points with the Marriott Bonvoy Bevy® American Express® Card; earn up to 10X points from Marriott Bonvoy for being a Marriott Bonvoy member; and earn up to 2.5x points from Marriott Bonvoy with the 25% Bonus Points on Stays, a benefit available with your complimentary Gold Elite status
      • Earn 1 Free Night Award after spending $15,000 on eligible purchases on your Marriott Bonvoy Bevy Card in a calendar year (redemption level at or under 50,000 Marriott Bonvoy points at hotels participating in Marriott Bonvoy; certain hotels have resort fees)
      • Each calendar year with your card, you can receive 15 Elite Night Credits toward the next level of Marriott Bonvoy® Elite status (Limitations apply per Marriott Bonvoy® member account. Benefit is not exclusive to Cards offered by American Express.)

    Read our full Marriott Bonvoy Bevy Amex Card review

    • Benefits

      • Receive 1 Free Night Award every year after your card renewal month: Award can be used for one night at hotels participating in Marriott Bonvoy® (redemption level at or under 85,000 Marriott Bonvoy® points; certain hotels have resort fees)
      • Earn up to 21x Marriott Bonvoy® points for every $1 spent on eligible purchases at hotels participating in Marriott Bonvoy: Earn 6x points with the Marriott Bonvoy Brilliant® American Express® Card; earn up to 10x points from Marriott Bonvoy for being a Marriott Bonvoy member; and earn up to 5x points from Marriott Bonvoy with the 50% Bonus Points on Stays, a benefit available with your complimentary Platinum Elite status
      • Enroll in Priority Pass™ Select, with an unlimited number of visits to over 1,200 airport lounges in over 130 countries, regardless of which carrier or class you are flying

    • Earned Choice Award: Select one Earned Choice Award benefit after spending $60,000 on eligible purchases each calendar year.

    • 25 Elite Night Credits: You can receive 25 Marriott Bonvoy Elite Night Credits each calendar year.

    Other Marriott Bonvoy Brilliant benefits include up to $300 annual dining credit, up to a $100 Marriott Bonvoy® property credit, and a fee credit for Global Entry or TSA PreCheck.

    Read our full Marriott Bonvoy Brilliant Amex Card review

    • Rewards rate

      • 5x points for flights booked directly with airlines or with American Express Travel® (up to $500,000 per calendar year)
      • 5x points on prepaid hotels booked with American Express Travel
      • 1x points on all other purchases

    • Benefits

      • Get up to $600 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel (up to $300 semi-annually; The Hotel Collection requires a minimum two-night stay)
      • Get up to $400 in annual statement credits ($100 each quarter; enrollment required) for eligible purchases with Resy, including dining at Resy restaurants
      • Enjoy up to $200 in Uber Cash annually —  that’s $15 in Uber Cash for rides or Uber Eats orders each month, plus a bonus $20 in December (you must have the latest version of the Uber App downloaded and your eligible American Express Platinum Card must be a method of payment in your Uber account; Amex benefit may only be used in United States)

    • $200 airline fee credit: Get up to $200 per calendar year in statement credits for incidental airline fees charged to your card from a selected qualifying airline.

    • $209 CLEAR® Plus credit: Get up to $209 back per calendar year on your CLEAR Plus membership (subject to auto-renewal) when you use your card.

    • $300 lululemon credit: Get up to $300 in statement credits annually ($75 per quarter) for eligible lululemon purchases online or in store.

    • $200 Oura credit: Get up to $200 in statement credits annually for Oura Ring purchases on Ouraring.com.

    • $120 Uber One credit: Get up to $120 Uber One membership credit each calendar year for an auto-renewing Uber One membership in the U.S.

    • $300 Equinox credit: Receive up to $300 in statement credits each calendar year on membership fees for eligible U.S. Equinox memberships or a standalone subscription to Equinox+.

    Other Amex Platinum card benefits and credits include up to $300 in annual digital entertainment credits, $155 (plus taxes and fees) in annual Walmart+ membership credit (for eligible Walmart+ monthly memberships), and a fee credit for Global Entry or TSA PreCheck.

    Enrollment is required for select benefits.

    Read our full Amex Platinum Card review

    • Rewards rate

      • Earn 4x Membership Rewards points on the top two eligible categories (out of 6 total categories) where your business spends the most each month. Although your top 2 categories may change each month, you will earn 4x points on the first $150,000 in combined purchases from these categories each calendar year, then 1x after that (only the top 2 categories each billing cycle will count towards the $150,000 cap; terms apply).
      • 3x points on flights and prepaid hotels booked on AmexTravel.com
      • 1x points on all other purchases

    • Benefits

      • Earn up to $20 in monthly statement credits (up to $240 annually) for eligible U.S. purchases at FedEx, Grubhub, and office supply stores
      • The Business Gold Card comes in three metal designs — Gold, Rose Gold, and White Gold
      • Your spending limit is flexible and adjusts based on factors such as your purchase, payment, and credit history

    The Amex Business Gold doesn’t have calendar-year credits, but you can get up to $240 back annually for eligible U.S. purchases. You can also get back $155 (plus taxes and fees) each year for an eligible monthly Walmart+ membership

    Enrollment is required for select benefits.

    Read our full Amex Business Gold Card review

    • Rewards rate

      • 2x miles on purchases at U.S. shipping providers and at U.S. providers for advertising in select media (up to $50,000 of purchases per category, per year)
      • 2x miles on eligible purchases made directly with Delta and at restaurants
      • 1x miles on all other purchases

    • Benefits

      • After you spend $10,000 in purchases in a year, you can receive a $200 Delta Flight Credit to use toward future travel
      • Save 15% anytime you book award travel with miles on a Delta flight
      • First checked bag free on Delta flights + zone 5 priority boarding

    Read our full Delta Gold Business Amex Card review

    • Rewards rate

      • 3x miles on Delta and hotel purchases
      • 1.5x miles on eligible transit and U.S. shipping purchases, plus single eligible purchases of $5,000 or more (up to $100,000 in combined spending annually)
      • 1x miles on all other purchases

    • Benefits

      • Earn an annual statement credit of up to $200 after booking prepaid hotels or vacation rentals through Delta Stays
      • Save 15% when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app
      • Earn up to $10 per month in statement credits on eligible Resy purchases

    Other Delta Platinum Business Amex benefits include up to $120 annual rideshare credit, and a fee credit for Global Entry or TSA PreCheck.

    Enrollment is required for select benefits.

    Read our full Delta Platinum Business Amex Card review

    • Rewards rate

      • 3x miles on Delta purchases
      • 1.5x miles on eligible transit, U.S. shipping, and office supply store purchases (plus all purchases after you spend $150,000 on your card in a year)
      • 1x miles on all other purchases

    • Benefits

      • Earn an annual statement credit of up to $250 after using your card to book prepaid hotels or vacation rentals through Delta Stays on delta.com
      • Check your first bag free on Delta flights
      • Enjoy international travel without additional fees on purchases made abroad

    Other Delta Amex Reserve Business benefits and credits include up to $240 annual Resy credit, up to $120 annual rideshare credit, and a fee credit for Global Entry or TSA PreCheck.

    Enrollment is required for select benefits.

    Read our full Delta Reserve Business Amex Card review

    • Benefits

      • Enjoy Complimentary Marriott Bonvoy Gold Elite Status with your Marriott Bonvoy Business American Express Card
      • Receive 1 Free Night Award every year after your card renewal month, and an additional Free Night Award after you spend $60,000 in purchases on your card in a calendar year (redemption level at or under 35,000 points at hotels participating in Marriott Bonvoy; certain hotels have resort fees)

    Read our full Marriott Bonvoy Business Amex Card review

    • Rewards rate

      • 2% cash back on all eligible purchases on up to $50,000 per calendar year
      • 1% cash back on all eligible purchases after spending $50,000 per calendar year (cash back earned is automatically credited to your statement)

    • Benefits

      • Enroll and get up to $150 in statement credits on U.S purchases directly with Dell Technologies on the Business Platinum Card and an additional $1,000 statement credit after you spend $5,000 or more on that same Card per calendar year.
      • Enroll and get a $250 statement credit after you spend $600 or more on U.S. purchases directly with Adobe per calendar year on the Business Platinum Card.
      • Unlock over $3,500 in statement credits with business and travel benefits annually on the Business Platinum Card (after meeting qualifying spend thresholds; terms apply)

    • Up to $360 Indeed credit: Get up to $90 in statement credits per quarter on Indeed purchases.

    • Up to $120 wireless credit: Get up to $10 back per month for wireless telephone service purchases made directly with U.S. wireless providers.

    • $600 hotel credit: Get up to $600 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel® (The Hotel Collection requires a minimum two-night stay).

    • $200 airline fee credit: Get up to $200 per calendar year in statement credits for incidental airline fees charged to your card from a selected qualifying airline.

    • $209 CLEAR® Plus credit: Get up to $209 back per calendar year on your CLEAR Plus membership (subject to auto-renewal) when you use your card.

    • Up to $200 Hilton credit: Hilton for Business members can receive up to $50 in statement credits quarterly on eligible Hilton purchases.

    Other Amex Business Platinum benefits include a fee credit for Global Entry or TSA PreCheck.

    Enrollment is required for select benefits.

    Read our full Amex Business Platinum review

    • Rewards rate

      2x points on everyday business purchases such as office supplies or client dinners (applies to the first $50,000 in purchases per year, 1x after that). Terms and limitations apply.

    The Amex Blue Business Plus has a spending category with a limit that resets each year.

    Read our full Amex Blue Business Plus review

    • Rewards rate

      • 12x points on eligible Hilton purchases made directly with hotels and resorts within the Hilton portfolio
      • 5x points on other purchases made using the Hilton Honors Business Card on the first $100,000 in purchases each year
      • 3x on all other eligible purchases

    • Benefits

      • Enjoy complimentary Hilton Honors Gold Status
      • You may receive an upgrade to Hilton Honors Diamond status if the total eligible purchases on your card during a calendar year are $40,000 or more
      • Enjoy up to $240 back each year for eligible purchases made directly with Hilton

    • Anniversary miles: Get 5,000 miles each account anniversary after spending $50 or more within the anniversary year.

    • Anniversary XP: Receive 20 XP each account anniversary and an additional 40 XP after spending $15,000 within the anniversary year.

    You can also receive $100 off an annual Alaska Lounge+ membership each year.

    • Global Companion Awards: Receive a 25,000-point Global Companion Award each account anniversary, and receive a 100,000-point Global Companion Award annually after spending $60,000.

    • Alaska Lounge passes: Receive up to eight Alaska Lounge passes (two per quarter) each year.

    • Atmos Rewards membership status boost: Receive 10,000 status points each account anniversary.

    You can also receive a fee credit for Global Entry or TSA PreCheck every four years.

    You can also receive $100 off an annual Alaska Lounge+ membership each year.

    $100 Companion Flight Voucher: Receive a $100 Companion Flight Voucher each anniversary after making at least $5,000 in purchases the previous anniversary year.

    • Emirates Gold tier: Retain Emirates Gold tier status after your first year by spending $40,000 each card membership year.

    • Anniversary bonus: Earn 10,000 anniversary miles after spending $30,000 on purchases each card membership year.

    You can also receive a fee credit for Global Entry or TSA PreCheck every five years.

    • Anniversary bonus: Earn 20,000 miles if you spend $50,000 to $99,999 in annual purchases or earn 40,000 miles if you spend $100,000 or more in annual purchases.

    • Anniversary bonus: Earn 5,000 bonus points after each account anniversary.

    • $100 JetBlue Vacations credit: Receive one $100 statement credit per calendar year after you purchase a JetBlue Vacations package of $100 or more.

    • Benefits

      • Free first checked bag for you and three travel companions on JetBlue flights
      • Get 10% of your points back after you redeem them for a JetBlue award flight
      • Earn 5,000 points bonus each year on your account anniversary
      • Receive up to a $100 statement credit each year after you purchase a JetBlue Vacations package of $100 or more
      • 50% savings on eligible inflight purchases when flying JetBlue

    Read our full JetBlue Plus Card review

    • TrueBlue Travel statement credits: Earn up to $300 in statement credits on TrueBlue Travel purchases per calendar year.

    • Anniversary bonus: Earn 5,000 bonus points each year after your card anniversary.

    You can also receive a fee credit for Global Entry or TSA PreCheck every four years.

    • Faster Miles & More status: Once per calendar year, convert 5,000 to 25,000 miles earned on purchases into Points + Qualifying Points.

    • Companion ticket: Receive a companion ticket after each account anniversary.

    • Lounge access: Receive two complimentary Lufthansa Business Lounge vouchers after each account anniversary.

    • Rewards rate

      • Earn 1.529% cash back rewards when linked to an eligible College Savings Plan (or 1.25% if your account is not linked to a College Savings Plan)
      • Get up to $250 in cash back rewards per calendar year on eligible gift card purchases at MyGiftCardsPlus.com (powered by Upromise)
      • Round up your purchases to the nearest dollar (based on the limit you set)

    • Benefits

      • Automatic Wyndham Rewards Platinum status
      • Earn 7,500 bonus points each account anniversary
      • Redeem 10% fewer Wyndham Rewards points for Go Free® awards
      • Cardmembers can access exclusive discounts on the Best Available Rate for stays at participating Hotels by Wyndham

    • Benefits

      • $300 annual credit for travel bookings through Capital One Travel
      • 10,000 annual bonus miles (worth $100 in travel spending; starts on your first account anniversary)
      • Unlimited access for you and two guests to Capital One Lounges and 1,300+ more lounges through partner networks after enrollment

    The Capital One Venture X also has a fee credit benefit for Global Entry or TSA PreCheck.

    Read our full Capital One Venture X review

    • Benefits

      • Every year, you’ll get 10,000 bonus miles after your account anniversary date and receive an annual $300 credit to use on Capital One Business Travel
      • Up to a $120 statement credit on TSA PreCheck or Global Entry
      • Unlimited complimentary access to Capital One Lounges and a network of 1,300+ Priority Pass lounges worldwide after enrollment

    • $50 account credit: Receive a $50 account credit once per calendar year when you use your card for REI Co-op experience classes, day trips, or multiday outings.

    • Benefits

      • Earn 500 bonus points for every $2,000 you spend in a calendar month (up to 1,500 points per month)
      • You and up to 8 travel companions traveling on the same reservation can each enjoy onn free checked bag on Air Canada
      • New cardmembers will automatically receive Aeroplan 25K Status for the remainder of the calendar year, plus the following year. Existing status holders who spend at least $50,000 during a calendar year can earn an Elite Status Level Up of one tier to 35K Status or higher.

    • Aeroplan 25K status: Keep your Aeroplan 25K status with $15,000 in account spend during a calendar year.

    • Ultimate Rewards points transfers: Get a 10% bonus after transferring 50,000 or more Ultimate Rewards points in a single transaction from an eligible Chase card to your Aeroplan account (maximum of 25,000 Aeroplan bonus points per calendar year).

    The Aeroplan Credit Card also has a fee credit benefit for Global Entry or TSA PreCheck that resets every four years.

    • Benefits

      • Earn an economy companion ticket (good for 12 months) when you spend $30,000 on your card in a calendar year
      • You and any authorized users are eligible for priority boarding on Aer Lingus flights departing from and returning to the U.S. from Ireland
      • No foreign transaction fees

    Read our full Aer Lingus Visa Signature Card review

    • Benefits

      • 10% off British Airways flights starting in the U.S. when you book through the website provided in your welcome materials
      • Every calendar year you make $30,000 in purchases on your British Airways Visa card, you’ll earn a Travel Together Ticket (good for two years)
      • Up to $600 in statement credits toward fees and other charges when you book reward flights to London ($100 for Economy or Premium Economy, $200 for Business or First Class, up to three times per year), Benefit Value per year in dollars: up to $600

    Read our full British Airways Visa Signature Card review

    • Benefits

      • Complimentary DashPass with $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27, plus a $10 promo each month on non-restaurant orders
      • Earn up to $50 in annual statement credits for hotel stays purchased through Chase Travel
      • On every account anniversary, earn bonus points equal to 10% of your total purchases made the previous year

    Read our full Chase Sapphire Preferred Card review

    • Benefits

      • Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables
      • Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more
      • Receive up to a $120 statement credit every four years to cover the application fee for Global Entry, TSA PreCheck®, or NEXUS

    • Up to $500 The Edit credit: Receive up to $250 in statement credits from January through June and again from July through December for prepaid The Edit bookings (two-night minimum).

    • Up to $300 dining credit: Get up to $150 in statement credits from January through June and again from July through December when dining at Sapphire Exclusive Tables restaurants via OpenTable.

    • Apple TV and Apple Music subscriptions: Get complimentary Apple TV and Apple Music subscriptions.

    • Up to $300 StubHub credit: Receive up to $150 in statement credits from January through June and again from July through December for purchases made on StubHub and viagogo (activation required).

    • Up to $120 Lyft credit: Get up to $10 in monthly in-app Lyft credits.

    • Up to $120 Peloton credit: Get $10 in statement credits per month on eligible Peloton memberships.

    • 75,000 spend bonuses: Spend $75,000 in a calendar year to receive IHG One Rewards Diamond Elite status, up to $250 credit for The Shops at Chase, up to $500 Southwest Airlines Chase Travel credit, and Southwest Airlines A-List status.

    Read our full Chase Sapphire Reserve Card review

    • Benefits

      • Get up to $250 in statement credits from January through June, and again from July through December for prepaid bookings made with The Edit℠
      • Receive one statement credit of up to $120 every four years as reimbursement for the Global Entry, TSA PreCheck®, or NEXUS application fee charged to your card
      • Receive an annual travel credit up to $300 in statement credits each anniversary year

    • Up to $400 ZipRecruiter credit: Earn up to $200 in ZipRecruiter statement credits January through June and up to $200 in statement credits July through December each year.

    • Up to $120 Lyft credit: Access up to $10 in monthly in-app Lyft credits.

    • Up to $200 Google Workspace credit: Earn up to $200 in annual statement credits on purchases made directly on Google Workspace.

    • Up to $100 gift card credit: Earn up to $100 in annual credits when you purchase gift cards from a curated collection on giftcards.com/reservebusiness.

    • $120,000 spend bonuses: Spend $120,000 in a calendar year to receive up to $500 credit for The Shops at Chase, IHG One Rewards Diamond Elite status, Southwest Rapid Rewards A-List status, and up to $500 credit for Southwest Airlines flights booked through Chase Travel.

    • Benefits

      • Earn a complimentary DashPass membership every year with $10,000 in annual card spend
      • No foreign transaction fees

    Read our full DoorDash Rewards Mastercard review

    • Benefits

      • Save 10% on Iberia flights purchased on iberia.com/Chase10
      • Earn a discount voucher of $1,000 to use toward two tickets on the same flight for each calendar year you make purchases of $30,000 on your card
      • No foreign transaction fees

    • Benefits

      • Earn a free night on each account anniversary, plus get a fourth night free when you redeem your points for a consecutive four-night stay at IHG properties
      • Receive Global Entry, TSA PreCheck®, or NEXUS statement credit of up to $120 every 4 years as reimbursement for the application fee charged to your card
      • Access perks including free upgrades, welcome amenities, and guaranteed room availability when you book at least 72 hours in advance

    • Bonus rewards: Receive a $100 statement credit and 10,000 bonus points after spending $20,000 each calendar year.

    • Diamond Elite status: Spend $40,000 each calendar year to qualify for Diamond Elite status through December 31 of the following year.

    • $50 United Airlines TravelBank Cash: Receive up to $50 United Airlines TravelBank Cash each calendar year after registering your card with your United MileagePlus account

    • Benefits

      • $0 annual fee
      • Redeem 3 nights, get the 4th night free
      • Enjoy international travel without additional fees on purchases made abroad

    • Bonus rewards: Receive 10,000 bonus points after spending $10,000 each calendar year.

    • Gold Elite status: Spend $20,000 each calendar year to qualify for Gold Elite status through December 31 of the following year.

    Read our full IHG One Rewards Traveler review

    • Rewards rate

      • Up to 17x points at Marriott: 6x points at participating Marriott Bonvoy® properties, 10x points for being a Marriott Bonvoy® member, plus 1x points for members with Silver Elite Status
      • 3x points per $1 on the first $6,000 spent in combined purchases annually on grocery stores, gas stations, and dining
      • 2x points on all other purchases

    • Benefits

      • Earn a Free Night Award every year after your account anniversary (worth up to a 35,000-point redemption)
      • Get automatic Marriott Bonvoy® Silver Elite Status each calendar year, plus receive 15 Elite Night Credits each calendar year and earn 1 Elite Night Credit for every $5,000 you spend
      • Get a one-year complimentary DashPass membership if you activate by 12/31/27

    • Free Night Award: Receive one Free Night Award (redemption level up to 50,000 Marriott Bonvoy points) after spending $15,000 in a calendar year.

    • 15 Elite Night Credits: You can receive 15 Marriott Bonvoy Elite Night Credits each calendar year.

    • Spending category cap: 4x points on the first $15,000 in combined purchases each year on grocery stores and dining

    • $300 annual travel credit: Receive up to $300 in annual statement credits for eligible airline purchases, such as baggage fees and seat upgrades, each year.

    • Free Night Award: Receive one Free Night Award (redemption level up to 85,000 Marriott Bonvoy points) each year.

    • 15 Elite Night Credits: You can receive 15 Marriott Bonvoy Elite Night Credits each calendar year.

    • Ritz-Carlton Club upgrades: Receive three Ritz-Carlton Club upgrade certificates per year.

    The Ritz-Carlton Credit Card also has a fee credit benefit for Global Entry that resets every four years.

    Note: This card is not available for new applications.

    • Benefits

      • 3,000 bonus points after your Cardmember anniversary
      • First checked bag free for you and up to 8 additional passengers in the same reservation
      • Standard Seat Selection within 48 hours prior to departure, when available

    Read our full Southwest Rapid Rewards Plus review

    • Benefits

      • Earn 6,000 points each year on your account anniversary
      • First checked bag free for you and up to 8 additional passengers in the same reservation
      • Get 25% back on inflight purchases
      • 10,000 Companion Pass® qualifying points boost each year

    Read our full Southwest Rapid Rewards Premier review

    All information about the Southwest Rapid Rewards® Premier Credit Card has been collected independently by Yahoo Finance. The Southwest Rapid Rewards® Premier Card is no longer available through Yahoo Finance.

    • Benefits

      • 7,500 bonus points after your Cardmember anniversary
      • First checked bag free for you and up to 8 additional passengers in the same reservation, plus enjoy unlimited upgrades to an Extra Legroom seat when available
      • 10,000 Companion Pass® qualifying points boost each year

    • Spend for A-List status: Earn 1,500 tier qualifying points (TQPs) for every $5,000 spent in purchases annually.

    Read our full Southwest Rapid Rewards Priority review

    • Benefits

      • Free first checked bag
      • Up to $120 Global Entry, TSA PreCheck® or NEXUS fee credit
      • Priority boarding on United flights and 2 United Club one-time passes per year

    • Award flight discount: Earn a 10,000-mile award flight discount after spending $20,000 each calendar year.

    • $100 United travel credit: Earn $100 United travel credit after spending $10,000 in a calendar year.

    • Up to $100 hotel credit: Receive up to $100 credit annually on prepaid hotel stays purchased directly through United Hotels.

    • Up to $60 rideshare credit: Enroll to receive up to $60 credit each calendar year on rideshare purchases.

    • Up to $50 United travel credit: Receive up to $50 in United travel credits annually when booking Avis or Budget car rentals directly through cars.united.com.

    • Up to $120 Instacart credit: Receive up to $120 in Instacart credits annually for purchases made directly through Instacart.

    • Up to $100 JSX credit: Receive up to $100 in annual credits for flights purchased directly through JSX.

    • PQP spending bonus: Earn 1 Premier qualifying point for every $20 you spend on purchases, up to 1,000 PQP in a calendar year.

    Read our full United Explorer Card review

    • Benefits

      • Free first and second checked bags + priority boarding
      • Receive a $200 United® travel credit and 10,000-mile award flight discount on each account anniversary
      • Earn 2 global Economy Plus® seat upgrades after spending $40,000 in purchases each calendar year

    • PQP jump start: Receive 1,000 Premier qualifying points each year.

    • PQP spending bonus: Earn 1 Premier qualifying point for every $20 you spend on purchases, up to 18,000 PQP in a calendar year.

    • Up to $150 hotel credit: Receive up to $150 hotel credit annually when purchasing prepaid hotel stays through Renowned Hotels and Resorts for United Cardmembers.

    • Up to $100 rideshare credit: Enroll to receive up to $100 annual credit on rideshare purchases.

    • Up to $80 United travel credit: Receive up to $80 in United travel credits annually when booking Avis or Budget car rentals directly through cars.united.com.

    • Up to $180 Instacart credit: Receive up to $180 in Instacart credits annually for purchases made directly through Instacart.

    • Up to $150 JSX credit: Receive up to $150 in annual credits for flights purchased directly through JSX.

    • Benefits

      • Free first and second checked bags and Premier Access® travel services
      • Complimentary United Club℠ membership — at least a $750 value annually — offers access to United Club locations and participating Star Alliance airport lounges
      • Earn up to 20,000 miles in award flight discounts annually

    • Award flight discount: Earn a 10,000-mile award flight discount after spending $20,000 in purchases, up to two times per calendar year

    • Global Economy Plus seat upgrades: Earn two global Economy Plus seat upgrades after spending $40,000 each calendar year.

    • PQP jump start: Receive 1,500 Premier qualifying points each year.

    • Up to $200 hotel credit: Receive up to $200 hotel credit annually when purchasing prepaid hotel stays through Renowned Hotels and Resorts for United Cardmembers.

    • Up to $150 rideshare credit: Enroll to receive up to $150 annual credit on rideshare purchases.

    • Up to $100 United travel credit: Receive up to $100 in United travel credits annually when booking Avis or Budget car rentals directly through cars.united.com.

    • Up to $240 Instacart credit: Receive up to $180 in Instacart credits annually for purchases made directly through Instacart.

    Up to $200 JSX credit: Receive up to $150 in annual credits for flights purchased directly through JSX.

    Read our full United Club Card review

    • Benefits

      • $0 annual fee
      • 2 free checked bags after you spend $10,000 on your card in a calendar year
      • 25% back as a statement credit on food, beverage, and Wi-Fi purchases on United-operated flights and on Club premium drinks

    • Free night: Receive one free night (redemption level up to Category 4) each year after your cardmember anniversary.

    • Additional free night: Receive an extra free night (redemption level up to Category 4) after spending $15,000 in a calendar year.

    • Qualifying night credits: Receive five qualifying night credits each year.

    • Anniversary free night: Receive a free night (redemption level up to 40,000 points) after each account anniversary.

    • Bonus rewards: Receive a $100 statement credit and 10,000 bonus points after spending $20,000 each calendar year.

    The IHG One Rewards Premier Business also has a fee credit benefit for Global Entry, NEXUS, or TSA PreCheck®.

    Read our full IHG One Rewards Premier Business review

    • Spending category caps: 5% cash back on the first $25,000 in combined spending at office supply stores and on internet, cable, and phone services each account anniversary year and 2% cash back on the first $25,000 in combined spending at gas stations and restaurants each account anniversary year.

    Read our full Ink Business Cash review

    • Rewards rate

      • 3x on the first $150,000 spent each account anniversary year in the following categories: shipping purchases; advertising purchases via social media sites and search engines; internet, cable, and phone services; and travel
      • 1x on all other purchases with no earning cap

    *All information about the Ink Business Preferred Credit Card has been collected independently by and is no longer available through Yahoo Finance.

    Read our full Ink Business Preferred review

    • Rewards rate

      • 3x on Southwest purchases
      • 2x at gas stations and restaurants on the first $8,000 in combined purchases per
        anniversary year
      • 1x on all other purchases

    • Benefits

      • 6,000 bonus points after your cardmember anniversary
      • First checked bag free for you and up to 8 additional passengers in the same reservation
      • Preferred Seat Selection within 48 hours prior to departure, when available

    • A-List spend bonus: Earn 2,000 tier qualifying points toward A-List status for every $5,000 spent annually.

    Read our full Southwest Rapid Rewards Premier Business review

    • Benefits

      • 9,000 bonus points after your Cardmember anniversary
      • First checked bag free for you and up to 8 additional passengers in the same reservation, plus enjoy unlimited upgrades to an Extra Legroom seat when available
      • 10,000 Companion Pass® qualifying points boost each year

    • Upgraded boardings: Receive four upgraded boardings per year, when available.

    • Wi-Fi credits: Receive up to 365 in-flight Wi-Fi credits per year.

    • A-List spend bonus: Earn 2,500 tier qualifying points toward A-List status for every $5,000 spent annually.

    The Southwest Rapid Rewards Performance Business also has a fee credit benefit for Global Entry, TSA PreCheck, or NEXUS that resets every four years.

    Read our full Southwest Rapid Rewards Performance Business review

    • Benefits

      • Receive a $125 United travel credit after making 5 United flight purchases of $100 or more each calendar year with your card
      • Receive a 5,000-mile “better together” bonus each anniversary when you have both the United Business Card and a personal Chase United credit card
      • Enjoy a free first checked bag, 2 United Club℠ one-time passes per year, and priority boarding privileges

    • Premier qualifying points (PQP): Earn 1 PQP for every $20 you spend (up to 4,000 PQP per calendar year).

    • Up to $100 hotel credit: Receive up to $100 credit annually on prepaid hotel stays purchased directly through United Hotels.

    • Up to $100 rideshare credit: Enroll to receive up to $60 credit each calendar year on rideshare purchases.

    • Up to $50 United travel credit: Receive up to $50 in United travel credits annually when booking Avis or Budget car rentals directly through cars.united.com.

    • Up to $120 Instacart credit: Receive up to $120 in Instacart credits annually for purchases made directly through Instacart.

    • Up to $100 JSX credit: Receive up to $100 in annual credits for flights purchased directly through JSX.

    • Up to $25 FareLock credit: Receive up to $25 in annual credits when you buy FareLock on a United or United Express flight.

    The United Business Card also has a fee credit benefit for Global Entry or TSA PreCheck that resets every four years.

    Read our full United Business Card review

    • PQP spending bonus: Earn 1 Premier qualifying point for every $15 you spend on purchases, up to 28,000 PQP in a calendar year.

    • Up to $200 hotel credit: Receive up to $200 hotel credit annually when purchasing prepaid hotel stays through Renowned Hotels and Resorts for United Cardmembers.

    • Up to $150 rideshare credit: Enroll to receive up to $150 annual credit on rideshare purchases.

    • Up to $100 United travel credit: Receive up to $100 in United travel credits annually when booking Avis or Budget car rentals directly through cars.united.com.

    • Up to $240 Instacart credit: Receive up to $180 in Instacart credits annually for purchases made directly through Instacart.

    • Up to $200 JSX credit: Receive up to $150 in annual credits for flights purchased directly through JSX.

    • Up to $50 FareLock credit: Receive up to $25 in annual credits when you buy FareLock on a United or United Express flight.

    • Global Economy Plus seat upgrades: Earn two global Economy Plus seat upgrades after spending $40,000 each calendar year.

    • Benefits

      • Spend $50 or more at any Hyatt property and earn $50 in statement credits up to two times per year
      • World of Hyatt Discoverist status for you and up to 5 employees for as long as your account is open
      • Get 5 Tier-Qualifying night credits toward status and Milestone rewards for every $10,000 you spend in a calendar year

    • 10% redemption bonus: Spend $50,000 in a calendar year and get 10% of your redeemed points back for the rest of the year on up to 200,000 points redeemed.

    Read our full World of Hyatt Business Credit Card review

    • Wireless bill credit: Earn up to $240 back toward qualifying AT&T wireless bills each year. Each billing cycle, you can earn $20 back as a statement credit after spending $1,000 on purchases or $10 back as a statement credit after spending $500 to $999.99 on purchases.

    • Loyalty Point bonus: Earn a 10,000 Loyalty Point bonus after reaching 50,000 Loyalty Points in a status qualification year. Earn another 10,000 Loyalty Points after reaching 90,000 Loyalty Points in the same year.

    • Car rental credit: Earn up to $120 in statement credits each calendar year when booking eligible prepaid car rentals through Avis.com or Budget.com.

    • Miles boost: After spending $150,000 on purchases in a calendar year, receive five AAdvantage miles for every $1 spent on eligible American Airlines purchases for the remainder of the year.

    The Citi AAdvantage Executive World Elite Mastercard also provides up to $120 annual Lyft credit, up to $120 annual Grubhub credit, and a fee credit for Global Entry or TSA PreCheck.

    • Benefits

      • First checked bag free on domestic American Airlines itineraries for you and up to four companions on the same reservation
      • Preferred boarding on American Airlines flights
      • No foreign transaction fees on purchases you make abroad

    Read our full Citi AAdvantage Platinum Select review

    • $250 travel credit: Receive up to $250 in statement credits each year for eligible travel purchases.

    • Fourth night free: Receive the fourth night of your stay free when you book a hotel stay of four consecutive nights or more through the Citi ThankYou travel portal. This benefit can be used twice per calendar year.

    The Citi Prestige also has a fee credit for Global Entry or TSA PreCheck.

    Note: This card is not available for new applications.

    • Benefits

      • Enjoy $100 off a single hotel stay of $500 or more (excluding taxes and fees) when booked through CitiTravel.com (once per calendar year; benefit applied instantly at the time of booking)
      • No foreign transaction fees
      • Transfer ThankYou® Points to participating airline loyalty programs — including TrueBlue®, Virgin Atlantic Flying Club, and Singapore Airlines KrisFlyer — with no fees (minimum transfer of 1,000 points)

    • Companion certificate: Earn an American Airlines companion certificate (redeem for $99 plus taxes and fees) for domestic travel after spending $30,000 during your card membership year and your card is renewed.

    • Admirals Club Globe Passes: Receive four Admirals Club Globe Passes each calendar year.

    • Up to $240 Turo credit: Earn up to $30 in statement credits for each eligible Turo trip completed, for a total of up to $240 in statement credits annually. You must link your card to your Turo account to qualify.

    • Up to $100 in-flight purchase credit: Earn up to $100 in annual statement credits on American Airlines in-flight purchases.

    • Up to $100 Annual Splurge credit: Earn up to $100 in annual statement credits on your choice of purchases from two of the following brands: 1stDibs, eligible AAdvantage Hotels™ bookings, Future Personal Training, and Live Nation® (exclusions apply).

    • Flight Streak bonus: Earn a 5,000 Loyalty Point bonus after every four qualifying American Airlines flights (up to 15,000 additional Loyalty Points each status qualification year).

    • American Airlines Companion Certificate: Receive an American Airlines Companion Certificate each time you renew your card membership, starting in your second year.

    The Citi / AAdvantage Globe Mastercard also offers a fee credit for Global Entry or TSA PreCheck every four years.

    • Up to $300 annual hotel benefit: Receive up to $300 off a hotel stay of two nights or more each calendar year when booked through cititravel.com.

    • Up to $200 Annual Splurge credit: Earn up to $200 in annual statement credits on your choice of purchases from two of the following brands: 1stDibs, eligible AAdvantage Hotels™ bookings, Future Personal Training, and Live Nation® (exclusions apply).

    • Up to $200 annual Blacklane credit: Earn up to $200 in annual statement credits when booking with Blacklane. Up to $100 from January through June, and up to $100 from July through December.

    • Admirals Club passes: Receive four Admirals Club passes each calendar year.

    • Citigold: Qualifying Citigold clients receive a $145 Banking Relationship Annual Credit if the primary cardmember has an open and current Strata Elite℠ Card account with an assessed Annual Membership Fee of $595.

    The Citi Strata Elite also offers a fee credit for Global Entry or TSA PreCheck every four years.

    • Benefits

      • Get a $15 annual streaming credit for services like Netflix or Spotify
      • Redeem your points for travel, merchandise, cash back, gift cards, and more

    The U.S. Bank Altitude Reserve also has a fee credit for Global Entry or TSA PreCheck.

    Note: This card is not available for new applications.

    • Benefits

      • Ge a $50 annual statement credit with $50 minimum airline purchase
      • Access travel protections such as lost baggage reimbursement, travel accident insurance, and trip cancellation protection
      • Get up to $1,000 of cell phone protection against damage, theft, or loss ($25 deductible applies)

    Read our full Wells Fargo Autograph Journey Card review

    • Elite night credits: Receive 20 Elite night credits each calendar year.

    • Anniversary bonus: Earn 30,000 bonus points on each account anniversary.

    The Choice Privileges Select Mastercard also has a fee credit for Global Entry or TSA PreCheck.

    • Platinum tier: Spend $30,000 in a calendar year to unlock One Key Platinum tier.

    • Anniversary bonus: Get $100 in OneKeyCash each cardholder anniversary.

    The One Key+ Card also has a fee credit for Global Entry or TSA PreCheck.

    This article was edited by Alicia Hahn

    Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.

    [ad_2]

    Source link

  • The newcomer’s smart spending guide: Turn everyday purchases into rewards – MoneySense

    [ad_1]

    This guide breaks down which everyday spending categories earn the best rewards, how to choose a rewards program that fits your needs, and practical tips to help you build credit faster while keeping more money in your pocket.

    Everyday spending categories that deliver the best rewards

    If you’re new to Canada, chances are you’re already spending in many of these categories. Review the list below and think about where most of your money will go—those are the areas where rewards can add up fastest.

    • Groceries: Weekly food shopping is often one of the biggest household expenses, making it one of the easiest ways to earn significant rewards.
    • Transportation: Paying for monthly bus passes, rideshares, gas, and parking is another big-budget item that can really add up. For example, if you use the RBC More Rewards Visa, you’ll earn 5 points per $1 spent on gas, EV charging, dining, and purchases with grocery and pharmacy partners.
    • Restaurants and dining: Whether you’re grabbing a quick bite to eat or stopping at a coffee shop for your morning espresso, you can earn rewards.
    • Drugstores and pharmacies: As you settle in, you may spend more on household essentials and health items. This is another key rewards category to take advantage of.
    • Recurring bills: Monthly expenses like your mobile phone, internet, streaming services, and utilities may seem small on their own, but they add up over time.
    • Online shopping and services: Although most credit cards don’t specifically reward online shopping, nearly all cards earn base rewards on online purchases.

    Essential vs. lifestyle purchases (and how to optimize both)

    If you’re like many newcomers, you’re probably trying to stick to a budget. Part of holding yourself accountable is distinguishing wants from needs. 

    Essentials

    Essentials fall squarely into the needs category, since these are things you can’t help but buy—we’re talking food, transportation, and household supplies. Utilities are recurring bills that also qualify as needs (though something like streaming services fall into the “wants” category). 

    Since you know you’ll have to make these purchases, look for a rewards credit card that offers the highest reward rates for these essentials. You’ll get the most back for your purchases and relying on one primary rewards credit card can help you track your spending and stay on budget.

    The RBC Ion+ Visa gives 3x the Avion points for every $1 you spend on groceries, gas, dining, food delivery, rideshare, and streaming services. All other purchases earn you 1 point per $1. So, you can see how quickly you’d rack up points with a credit card that prioritizes everyday spending.

    Lifestyle purchases

    When you think of wants, eating out, catching movies or concerts, and furnishing your home all count as things that are nice to do, but not essential. Even so, you can still earn rewards by using the right credit card.

    Since these might be occasional purchases in the early months of establishing your life in Canada, you might reach for a credit card that earns you a flat rate across all spending categories, like the RBC Cash Back Preferred World Elite Mastercard. You’ll get a steady 1.5% cash back on all your purchases—wants and needs.

    How flexible rewards evolve with spending trends

    When you first get a credit card after arriving in Canada, it’s natural to focus on a few key spending categories—but your budget and priorities will likely evolve. You may spend more on settlement costs and transportation in the early weeks. Over time, groceries and household expenses often take up a larger share of your budget, followed by bigger lifestyle purchases.

    As your spending shifts, so can the way you use your rewards. Early on, cash back applied to your credit card balance may be the most helpful option. Later, you might prefer the flexibility to book travel, buy merchandise, choose gift cards, or mix and match different redemption options.

    The strongest flexible rewards programs also help you get more value from your spending through merchant offers and seasonal promotions. Most importantly, they give you control over how you redeem your rewards. For example, RBC’s Avion Rewards program lets you book flights, transfer points to airline partners, donate points to charity, apply them toward financial products, purchase merchandise or gift cards, or redeem them as a statement credit—so your rewards can grow with you.

    Article Continues Below Advertisement


    6 smart spending strategies for newcomers

    Using the right credit card isn’t the only financial move you need to make. Here are some of the most effective strategies for managing your money as a newcomer:

    • Take advantage of welcome offers: If you open a credit card (or even bank account), most issuers give you the opportunity to earn a limited-time bonus for reaching spending milestones. Keep these promotions in mind when making purchases, but don’t overspend to chase the rewards.
    • Track your early spending habits: Once you’ve been using a credit card for a month or two, take some time to pinpoint your high-earning categories. You might decide that a different credit card would reward you better, or you might find that you’re indeed using the best card for you.
    • Charge your everyday purchases and recurring bills to a rewards card: Earn rewards for the things you need to buy. This is a smart money move so long as you pay off the card every month. It also simplifies bill payments.
    • Make your payments on time: Whether you’ve got a credit card bill or a recurring utility payment due, prioritize paying your bills on time and in full. This helps you start building a solid credit score, which can get you better interest rates down the road.
    • Don’t spend more than you can pay off: If you’re carrying a balance or paying late fees, interest charges quickly erase the value of any rewards you earn. Rewards only make sense if you pay your credit card balance in full and on time every month.
    • Use digital tools to budget: When you choose a bank, familiarize yourself with its online tools and mobile app. These make it easy for you to track your spending and stay on top of the rewards you’ve accumulated.

    If there’s one piece of advice to remember, it’s this: always make at least the minimum payment on your credit card, on time. Even if you can’t pay off the full balance every month, paying the minimum helps prevent negative information from being reported to Canada’s credit bureaus.

    Building toward your personal goals starts with smart money habits—and establishing a strong financial foundation in Canada from the beginning.

    Earning, saving and spending in Canada: A guide for new immigrants

    Read more about credit cards:



    About Jessica Gibson


    About Jessica Gibson

    Jessica Gibson is a personal finance writer with over a decade of experience in online publishing. She enjoys helping readers make informed decisions about credit cards, insurance, and debt management.

    [ad_2]

    Jessica Gibson

    Source link

  • Credit card interest rates: How high is too high? – MoneySense

    [ad_1]

    Credit card rate caps spark debate

    The Canadian Bankers Association said in a statement Monday that Canada’s credit card market is highly competitive and well regulated.

    “Regulatory interventions aimed at artificially capping credit card interest rates can lead to unintended consequences that harm consumers, such as reducing credit availability for many Canadians and business owners,” said spokeswoman Nathalie Bergeron in an email. “Such a cap could drive customers towards more costly alternatives and reduce the value that all consumers receive from credit cards.”

    Conacher, who’s been pushing for lower credit card rates in Canada for decades, said that banks always say they’ll have to stop offering credit to some, but never provide proof. “Whenever the banks say we wouldn’t be able to afford, we wouldn’t have these margins, and then as a result, we’d have to cut off people, they should be required to prove that’s true,” he said. “No one should accept it at face value, given their profit levels.”

    He pointed out how credit card rates have stayed the same, generally hovering around 20%, despite wide fluctuations in interest rates over the last two decades, as evidence there is room to reduce.

    Best low interest credit cards in Canada

    Studies suggest rate caps could save billions

    Research in the U.S., after Trump first put out the plan as a campaign pledge, found that Americans would save about US$100 billion in interest a year if credit card rates were capped at 10%. The same researchers found that while the credit card industry would take a major hit, it would still be profitable, although credit card rewards and other perks might be scaled back.

    In remarks from late 2024 to a parliamentary committee, the banking association’s senior vice-president for banking policy, Darren Hannah, said that 71% of Canadians pay off their balance every month, while there are also some lower-interest card options. He said credit cards offer great value to consumers, that there are some options to switch credit card debt to instalment loans at potentially lower interest, and that the industry has worked with consumers during tough times like the COVID-19 pandemic when it provided deferrals on credit cards.

    What didn’t happen during the pandemic though, was much of any change in credit card interest rates. The lack of change, despite the historically low Bank of Canada policy rate, prompted the Canadian Labour Congress to call for a better response from banks in 2020. 

    Related reading: Credit card interest calculator

    Federal interest caps stop short of credit cards

    The question of what level of interest rate is acceptable is an age-old question, but one the federal government has worked to tackle recently. Ottawa officially lowered the maximum allowable interest rates on loans to 35% on an annual percentage rate from 48%, while separately setting out lower maximums for payday loan charges. The change wasn’t enough to affect credit cards, though.

    Article Continues Below Advertisement


    And while interest rates are certainly key, it’s also important to look at hidden charges and other costs like interchange fees, said Claire Celerier, Canada Research Chair in household finance at the University of Toronto’s Rotman School of Management. “The risk is that if you cap the interest rate and if there is no cap on late payment fees, interchange fees, and so on, banks are going to recover by increasing all the other fees.” Such fees are generally more hidden than the interest rate, raising the potential of further distorting the market. 

    Lower-income cardholders tend to bear hidden costs

    Low-income people can sometimes shoulder a disproportionate share of fees, like the interchange fee charged to merchants, because while stores spread out the costs among all shoppers, high-earners get some costs back in credit card rewards. “I think what Trump is doing, the effect is that banks are going to increase their fees and it will be at the expense of the poor.” 

    The federal government in 2024 did secure an agreement on reduced interchange fees, though the rates still stand much higher than in Europe. 

    Derek Holt, vice president of Scotiabank Economics, said in a note Monday that a lowering of the cap on rates would also likely mean higher monthly minimum payments, card companies raising other fees and many losing access to free credit. “In short, education and efforts to raise financial literacy may be more effective than rate caps and so could efforts to address severe income disparities within the U.S. economy that are not the fault of the cards industry.” 

    Get free MoneySense financial tips, news & advice in your inbox.

    Read more about news:



    About The Canadian Press


    About The Canadian Press

    The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

    [ad_2]

    The Canadian Press

    Source link

  • Does your credit score reset in the new year?

    [ad_1]

    Sometimes you just need a fresh start. For many people, the new year represents exactly that: a time to wipe your slate clean, reset intentions, and start building new habits.

    Does that mean you can reset your credit scores in the new year and start fresh? Unfortunately, credit scores don’t “reset.” In fact, many people will see their credit scores drop in the new year due to debt they took on during the holidays.

    But that doesn’t mean you’re stuck with bad credit forever. Credit scores are shaped by long-term behavior, making consistency far more powerful than timing.

    Your credit score calculation can change as often as every 30 days.

    That’s because your debt activity is typically reported to the credit bureaus monthly. And when any new information shows up on your credit reports, your credit scores will change accordingly.

    In other words, it’s normal to see your credit scores fluctuate each month. Just don’t expect major changes to happen in a short time. In my experience helping thousands of consumers improve their credit, it typically takes at least a year to gain 80 points or more.

    Read more: Can you raise your credit score by 100 points overnight?

    Your credit scores can change any time the information in your credit reports is updated. If the update is positive, such as a reduction in your loan balances or the removal of an error from your reports, you might see your credit scores go up.

    If there’s a negative change to your debt situation, you can expect to see your credit scores drop. Around the holidays, many people experience this due to new debt they incur for gifts, travel, or holiday parties. In fact, 79% of people said they’d cover these expenses with credit cards during the 2025 holiday season, according to a survey conducted by The Harris Poll on behalf of the American Institute of CPAs (AICPA).

    Here’s an overview of the main activities that cause your credit scores to drop:

    • Filing bankruptcy

    • Having a bill go to collections

    • Missing a debt payment

    • Increasing your debt

    • Opening a new loan or credit card, including buy now, pay later (BNPL) loans

    • Closing loans or credit cards

    • Applying for multiple new debt accounts in a short time period

    Read more: 8 common reasons why your credit score could have dropped

    Whether you’ve racked up holiday debt or you’re just looking for ways to gain points, there are a lot of ways to improve your credit scores. Here are a few of the best options.

    The AICPA survey found that 17% of people say it will take them more than six months to pay off their holiday debt. If that includes you, choose one or more of these strategies and resources to help you speed up the process and regain the credit score points you lost during the holidays:

    • Consolidate debt: Consider using a personal loan to pay off your credit card debt. Since the average interest rate on personal loans is much lower than credit cards (11.14% versus 21.39%, respectively), paying off credit cards with a consolidation loan can help save you money on interest charges and get out of debt faster.

    • Cut spending: Reduce your nonessential expenses for a few months to free up more money for debt repayment.

    • Credit counseling: Reach out to an NFCC-certified credit counseling agency to get help adjusting your budget, reviewing your credit reports, and finding out if you qualify for debt management services.

    It can take years of practicing healthy financial habits to build excellent credit. If you want to see growth in your scores that lasts for the long term, always practice these habits:

    • Make at least the minimum payments by the due date on all of your debts. The goal is to get to a place where you can pay off your credit cards in full each month.

    • Avoid using high-interest and high-risk products to cover expenses, including credit cards, BNPL agreements, and payday loans. Instead, rely on your emergency savings in a pinch — or if necessary, consider a personal loan or borrowing money from a loved one.

    • Pull your free credit reports from AnnualCreditReport.com at least twice a year. Monitor your reports for signs of identity theft and to dispute any errors you find.

    Read more: Is it possible to achieve a perfect credit score of 850?

    You can also try to get help from a loved one with good credit. If you have a spouse or family member who is willing to help, ask them to add you as an authorized user to one of their credit cards. If they do, their full account history will appear on your credit scores, which will help you gain points faster.

    [ad_2]

    Source link

  • New to Canada? Here’s how the Scotiabank newcomer offer can help – MoneySense

    [ad_1]

    As a newcomer, you can get personalized financial advice and apply for credit cards that don’t require a lengthy Canadian credit history. This gives you the chance to start building your credit score right away, so you can qualify for higher credit limits or better borrowing terms as you’re setting up life in a new country.

    Why your credit score matters

    It’s hard to overstate just how important your credit score is. This three-digit number reflects your financial habits and history, and it’s the number lenders and card issuers look at when they’re deciding whether or not to approve your applications for credit. 

    Essentially, your credit score tells lenders how risky you are to lend to. 

    People with low credit scores or those who don’t have a credit score at all will likely find it much harder to be approved for loans, credit cards, and mortgages. On the other hand, people with high credit scores will not only be more likely to be approved, but also may have access to better interest rates and loan terms.

    How to establish a strong credit score in Canada

    The credit monitoring bureaus, Equifax and TransUnion, look at your personal financial factors to determine your score, but they don’t weigh these factors equally. Here are the rough numbers:

    • 35% of your score is determined by your payment history: This is your record of loan or credit payments. Since missed payments can damage your credit score, always make at least the minimum payment for all your accounts each month.
    • 30% of your score is influenced by credit utilization: This is how much available credit you’re using. Using around 30% or less of your available credit will help boost your score.
    • 15% of your score is determined by your credit history: Newcomers are at a distinct disadvantage with this factor since it takes into account the age of your Canadian credit accounts—foreign accounts don’t count.
    • 10% of your score is dependent on your credit mix: Credit bureaus want to see a mix of credit types to see if you’re responsible with your finances. Having a mix of auto loans, lines of credit, credit cards, and even student loans on your history can help your score.
    • 10% of your score is determined by requests for credit: Lenders pay attention to how often your credit report is pulled, like when you’re looking for new credit. Many pulls in a short time can indicate you’re struggling financially, so limit the number of credit applications you submit to protect your credit score.

    Many of these factors take time to develop, which can make it difficult for newcomers to build a good credit score. Fortunately, Scotiabank has a powerful credit-building tool for new Canadians.

    How the Scotiabank StartRight® Program works

    As most newcomers to Canada find out quickly, you typically can’t bring your credit history with you when you move, so it’s hard to access loans and other credit products. That’s where Scotiabank’s StartRight® Program comes in.

    StartRight™ allows you to set up your personal finances through Scotiabank, including a no-monthly fee chequing account for the first year, credit cards and specialized mortgage financing. 

    Article Continues Below Advertisement


    As a Scotiabank’s StartRight® Program member, you can get: 

    • Up to $700 when you bundle an eligible banking package, savings account, and registered account.
    • No monthly account fees on a Preferred Package chequing account for the first year.
    • Unlimited no-fee international money transfers from a Scotiabank chequing or savings account.
    • Apply for credit cards even without an established Canadian credit history, so you can start building a credit score as soon as you’re approved 
    • 10 free equity trades when you invest at least $1,000 in a new Scotia iTrade® account.

    You can make an appointment at any Scotiabank location to join StartRight™ if you meet the qualifications.

    Permanent residents must show one piece of Canadian government-issued ID along with a permanent resident card or Confirmation of Permanent Residence (COPR) document. Foreign workers must show a work permit and one piece of Canadian government-issued ID.

    FAQs

    This article is provided for information purposes only. Any information, data, opinions, views, advice, recommendations or other content included in this article are solely those of the author and not of Scotiabank or its affiliates. It is not to be relied upon as financial, tax or investment advice or guarantees about the future, nor should it be considered a recommendation to buy or sell. Information contained in this article is subject to change without notice.

    This is a paid post that is informative but also may feature a client’s product or service. These posts are written, edited, and produced by MoneySense with assigned freelancers.

    Get free MoneySense financial tips, news & advice in your inbox.

    Read more about newcomers:



    About Jessica Gibson


    About Jessica Gibson

    Jessica Gibson is a personal finance writer with over a decade of experience in online publishing. She enjoys helping readers make informed decisions about credit cards, insurance, and debt management.

    [ad_2]

    Jessica Gibson

    Source link

  • BMO eclipse rise Visa Card Review – MoneySense

    [ad_1]

    With our BMO eclipse rise Visa review, we’ll walk you through the basics of the card and the important details you should be aware of before applying.

    Who is the BMO eclipse rise Visa best for?

    If you’re a student, newcomer, or someone who’s building their credit score and income, the BMO eclipse rise Visa card is a good option. You can build your credit while participating in the BMO Rewards program and enjoy basic features, such as mobile device coverage.

    BMO eclipse rise Visa: The basics

    featured

    BMO eclipse rise Visa Card

    Annual fee: $0

    Rewards: 5x Five times the BMO Rewards points for every $2 spent on recurring bill payments, groceries, dining and takeout.

    Welcome offer: Get 20,000 points and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee. Plus, earn up to 5,000 bonus points every year.

    Card details

    Interest rates 21.99% on purchases, 23.99% on cash advances (21.99% for Quebec residents)
    Income required None
    Credit score None

    To give you a quick idea of whether or not this card might have the features and benefits you’re looking for, check out its basic characteristics.

    Earn rates 5 points per $2 spent at dining, groceries, recurring bills, and takeout1 point per $2 spent on everything else
    Insurance included Extended warrantyPurchase protectionMobile device
    Special perks and features Participates in the BMO Rewards programBalance transfer promotionAnnual bonus opportunity when you pay on timeWelcome bonusAvailable to students and newcomers7 cents off per litre at Shell
    Fees 2.5% foreign transaction fee on purchases made outside Canada.
    Minimum credit limit Any amount
    Supplementary card cost $0

    Pros and cons of the BMO eclipse rise Visa

    Every card has benefits and drawbacks to consider. Think about these points before submitting your application.

    Pros:

    • Easy to qualify for: Students and newcomers will find it especially easy to qualify, since there’s no income requirement.
    • No annual fee: The rewards you earn are simply money back in your pocket since you’re not paying to use the card.
    • Free supplemental cards: Feel free to add an authorized user to your account since there’s no additional cardholder fee.

    Cons:

    • Low earn rate: Compared to other no fee credit cards, this card doesn’t earn reward points as quickly, and bonus categories are limited.
    • Limited insurance coverage: You’ll get basic extended warranty and purchase protection plus mobile device coverage, but no travel insurance.
    • Low point value: BMO Rewards points aren’t as valuable as other reward program points, especially if you’re not using your points for travel.

    BMO eclipse rise Visa rewards explained

    This entry-level BMO credit card is fairly straightforward in how it earns BMO Rewards points. 

    You’ll get 5 points per $2 spent on:

    • Dining
    • Groceries
    • Takeout
    • Recurring bills

    There might be some variation in how stores are categorized, so take a look at your bank statement to see if you’re earning increased rewards. Look for the merchant code “Grocery” or “Dining”. Warehouse clubs, big-box retailers, and discount stores may not code as grocery.

    Article Continues Below Advertisement


    BMO caps increased earnings at $5,000 after you spend on groceries, dining, takeout, and recurring bills in a year. After you max out, you’ll continue to earn the base rate of 1 point per $2 spent.

    Find the perfect card with CardFinder

    In under 60 seconds, get matched with a personalized list of the best credit cards based on your spending personality and approval likelihood. No SIN required.

    BMO eclipse rise Visa perks and benefits

    Sometimes, a card’s features are more important than its reward structure. This is especially true if you’re trying to qualify for a card or move your existing credit card balance. 

    Balance transfer promotion

    If you have existing credit card debt with a card not issued by BMO, you can transfer your balance to the eclipse rise Visa and enjoy a 0.99% interest rate on it for 9 months. You will have to pay a 2% transfer fee, but the low balance transfer interest rate lets you quickly pay down your current credit card debt.

    Canada’s best credit cards for balance transfers

    Annual bonus rewards

    BMO rewards you for making consistent payments. If you pay your balance in full every month for 12 months, you’ll get 2,500 bonus points. And, if you redeem at least 12,000 BMO points for statement credits during a year, you’ll get another 2,500 points.

    Flexible redemption options

    Of the three no-fee credit cards BMO offers, only the eclipse rise Visa gives you BMO Rewards points. You can redeem these for travel with any provider for the most value. Otherwise, you can use the points for BMO investments, request gift cards or prepaid credit cards, purchase merchandise, redeem them for Apple products, or apply them towards your statement balance. The choice is completely yours.

    What cardholders think

    We always like to search for feedback from real cardholders, but when we turned to Reddit to learn more about the BMO eclipse rise Visa, we were surprised by the lack of discussion. 

    One cardholder simply said it was the best no-annual-fee travel card, and another considered applying for the card just to get the mobile device coverage.

    After searching for feedback, we found most cardholders are talking about the BMO eclipse Visa Infinite, which has an annual fee but offers better earn rates in the BMO Rewards program (as well as better insurance coverage).

    [ad_2]

    Jessica Gibson

    Source link

  • Colorado wins legal battle to cap interest rates on consumer loans

    [ad_1]

    Colorado can now move forward with a cap on what some out-of-state lenders can charge borrowers in interest after the U.S Court of Appeals for the 10th Circuit rejected a lower court ruling that blocked state efforts to set a limit.

    At question were consumer loans that nonbank lenders were issuing through banks chartered in other states with no caps or very high caps on interest rates. Some lenders were just above the state’s limit of 36%, while others were charging rates approaching 200% a year.

    “This is about consumers being protected from these harmful loans. It is also about state rights and whether Colorado can decide if the usury laws can apply to its residents,” said Andrew Kushner, senior policy counsel for the Center for Responsible Lending, one of several consumer groups supporting Colorado in its legal battle.

    As lending has moved increasingly online, and as the bar on what was considered an acceptable interest rate has continued to move higher, Colorado has taken steps to protect consumers, especially in the areas of payday, alternative and installment loans, said Andrea Kuwik, director of policy and research at the Bell Policy Center in Denver.

    Colorado voters in 2018 passed Proposition 111, which capped short-term payday loans at a maximum rate of 36%, down from the 186% a year borrowers had been paying a year on average between interest and fees. That measure garnered 77% support, an unusually high share for a ballot measure.

    But lenders pivoted and began offering more “alternative” loan products with short terms and triple-digit interest rates. The Colorado Attorney General reached agreements with a couple of the more aggressive out-of-state banks. In 2023, the Colorado legislature sought to execute an opt-out provision in federal banking law to bring more of the banks into compliance, which triggered a lawsuit.

    “These are the limits that are right for Coloradans and voters have made this a priority. The ruling gives them back their power,” Kuwik said. She adds that other states have been watching the case and could be encouraged to follow Colorado’s lead.

    Consumer lending can be viewed as a three-tier cake. At the top are nationally chartered banks, which issue the majority of credit cards and have the best name recognition. Although they follow federal banking rules, including on disclosure, when it comes to limits on interest rates, they are under the “usury” laws of their home states.

    The closest thing to a national usury law is a 36% cap on loans made to active duty military personnel and their dependents, but otherwise, national banks can charge what their home states allow. And no surprise, national banks tend to locate in the state with the loosest regulations on interest rates and consumer protections.

    In the middle are state-chartered banks. Under the Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980, state-chartered banks can make loans in other states, provided they follow the rules, usury and otherwise, of their home state.

    At the bottom are nonbank lenders who must comply with state lending rules and licensing requirements. Technology has made it much easier for “fintech” companies to reach consumers nationwide, and some firms have found a willing market among consumers facing financial distress.

    To get around state restrictions, fintech companies partnered with state-chartered banks in places like Utah, which doesn’t have a set cap on interest rates. Critics argue these “rent-a-bank” arrangements allow fintech companies to skirt the consumer protections states have sought to erect.

    For example, Utah’s only limits are against “unconscionable” interest rates, but that term remains undefined and rarely enforced in a court system that has shown a propensity to side with lenders.

    Colorado isn’t on the low end among states that have issued interest rate caps, according to a comparison from the National Consumer Law Center. But residents carry some of the highest debt burdens of any state, and lawmakers have fought back against lending practices considered predatory. In 2023, the state legislature enacted an opt-out clause under DIDMCA to prevent state-chartered banks from “exporting” higher-rate loans into Colorado. Iowa is the only other state that has an active opt-out provision.

    Colorado’s law was set to take effect on July 1, 2024, but in March, the National Association of Industrial Bankers, the American Financial Services Association, and the American Fintech Council sued to prevent its implementation.

    In June, right before implementation, U.S. District Judge Daniel Domenico ruled that under DIDMCA, a loan is granted in the state where the lender is located, not where the borrower resides, and issued a preliminary injunction. On appeal, a panel of three judges in the 10th Circuit Court of Appeals overturned Domenico’s ruling and issued a 2-1 ruling in Colorado’s favor on Monday.

    Key to the case was an interpretation of the term “loans made in such states.” The majority opinion concluded that the phrase could be interpreted to include where the borrower is located, not just where the bank is based.

    “Likewise, the public interest counsels against enjoining a validly enacted law from a democratically elected state legislature,” they stated.

    Defenders of the high-rate loan products argued that state-chartered lenders would be harmed financially and put at a competitive disadvantage to the national banks. They also argued Colorado was limiting the credit extended to an underserved part of the population and thus harming them.

    For example, borrowing money to cover a car repair could allow someone to keep their job, and borrowing to make the monthly rent payment could prevent an eviction and a cascading series of problems.

    “This decision puts Colorado consumers — especially low- and moderate-income families — at risk of being cut off from safe, regulated financial services at a time when they need them most. It also puts Colorado’s local banks at a disadvantage, making it harder to attract responsible fintech providers and stifling innovative partnerships that help community banks remain competitive,” Phil Goldfeder, CEO of the American Fintech Council, said in a statement.

    The American Financial Services Association (AFSA) has also criticized the ruling and warned it could undermine the nation’s dual banking system that allows for state and national charters. DIDMCA was created, in part, to allow state-chartered banks to compete more effectively with national banks. One way it does so is by giving them a consistent set of regulations to work under rather than a patchwork of varying state regulations.

    “In short, Colorado should be able to oversee Colorado banks, but Colorado should not be able to tell a state-chartered bank properly overseen by regulators in Arizona, California, or Nevada under what terms it can serve consumers,” the AFSA said in a statement.

    So why isn’t an interest rate of 36% high enough? The typical loss rate for credit card issuers is in the 2% to 5% range, and reached as high as 10% during the Great Recession, according to the Federal Reserve. But the large nonbank lenders that partner with state-chartered banks suffered loss rates of 55% in 2022, according to their public filings.

    The reason they can afford to absorb those kinds of losses and lend to whoever shows up is that they are charging loans with annual percentage rates of 100% or more. Borrowers are made aware of what they will be paying and it is up to them to weigh the pros and cons.

    But consumer advocates counter that those in a desperate financial situation may fail to appreciate how much high rates may end up costing them in the long term and fail to pursue other alternatives like pawning items or turning to friends and family. Kushner argues that some loans are so harmful to consumers that they shouldn’t be allowed.

    “A credit product won’t solve the problem of someone not making enough money,” he said. “Being given a loan you can’t afford to repay is an injury. It isn’t a gift in any sense.”

    [ad_2]

    Aldo Svaldi

    Source link

  • Bessent Says ‘Tenfold’ Growth in Stablecoins Will Lift Demand for Treasurys

    [ad_1]

    Bessent Says ‘Tenfold’ Growth in Stablecoins Will Lift Demand for Treasurys

    [ad_2]

    Source link

  • Top travel credit cards for 2025

    [ad_1]

    Planning a trip this holiday season? Take the sting out of expensive flights and hotel stays by using rewards from the best travel credit cards to book your upcoming holiday vacation. With some of your largest trip expenses covered with points or miles, you can put your money toward fun experiences and outings.

    • Annual fee

      $95

    • Welcome offer

      Earn 75,000 miles after spending $4,000 on purchases in the first 3 months – that’s equal to $750 in travel

    • Rewards rate

      • 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
      • 2x miles on all other purchases

    • Benefits

      • Receive up to a $120 statement credit for Global Entry or TSA Precheck application fees
      • Receive a $50 experience credit, room upgrades, and early check-in at eligible hotels
      • Access Hertz’s Five Star membership tier, offering free upgrades, a wider selection of vehicles, and more

    Why we like it: The Capital One Venture card is a winning travel card for earning and redeeming miles, no matter how you like to travel. The simple 2x miles on every purchase can help you earn toward future trips with everything you buy. And redemptions are just as far-reaching: You can use miles to book future trips through Capital One Travel, reimburse yourself for travel purchases you make with your card, or transfer miles to Capital One’s 15+ travel partners.

    Read our full review of the Capital One Venture Rewards Credit Card

    • Rewards rate

      • 5x points on travel purchased through Chase Travel℠
      • 3x points on dining, select streaming services, and online groceries
      • 2x points on all other travel purchases
      • 1x points on all other purchases
      • $50 Annual Chase Travel Hotel Credit

    • Benefits

      • Complimentary DashPass with $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27, plus a $10 promo each month on non-restaurant orders
      • Earn up to $50 in annual statement credits for hotel stays purchased through Chase Travel
      • On every account anniversary, earn bonus points equal to 10% of your total purchases made the previous year

    Why we like it: The Chase Sapphire Preferred Card has a solid welcome offer and rewards on a mix of travel and everyday categories, so you can rack up points no matter how often you vacation. On top of that, you’ll get an anniversary points bonus worth 10% of your overall spending from the past year. But you’ll get the most value from this card when it’s time to redeem. Points redeemed for travel through Chase Travel℠ get a 25% boost — so 10,000 points would be worth $125, for example.

    Read our full Chase Sapphire Preferred Card review and learn more about pairing today’s top Chase credit cards

    • Rewards rate

      • 10x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
      • 5x miles on flights and vacation rentals booked through Capital One Travel
      • 2x miles on all other purchases

    • Benefits

      • $300 annual credit for travel bookings through Capital One Travel
      • 10,000 annual bonus miles (worth $100 in travel spending; starts on your first account anniversary)
      • Unlimited access for you and two guests to Capital One Lounges and 1,300+ more lounges through partner networks after enrollment

    Why we like it: We like the Capital One Venture X Rewards Credit Card because it has no shortage of great perks and rewards, but offers a relatively lower annual fee. You’ll get a $300 annual travel credit for bookings with Capital One Travel; 10,000 bonus miles each year after your first anniversary; a credit for TSA PreCheck or Global Entry fees; access to Capital One Lounges and partner lounge networks; a $100 experience credit when you book stays with the Premier Collection; Hertz President’s Circle status; and more. Combined, these perks more than outpace the card’s annual fee — but consider your travel plans to ensure you’ll be able to take full advantage and get the maximum possible value from your Venture X card.

    Read our full Capital One Venture X Rewards Credit Card review

    • Welcome offer

      You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 on eligible purchases in the first 6 months (welcome offers vary and you may not be eligible for an offer; apply to know if you’re approved and find out your exact welcome offer with no credit score impact; if approved and you accept the card, your score may be impacted)

    • Rewards rate

      • 4x Membership Rewards Points at restaurants worldwide (on up to $50,000 per calendar year in purchases, then 1x)
      • 4x Membership Rewards points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1x)
      • 3x Membership Rewards points on flights booked directly with airlines or on AmexTravel.com
      • 2x Membership Rewards points on prepaid hotels and other eligible purchases booked on AmexTravel.com
      • 1x Membership Rewards points on all other eligible purchases

    • Benefits

      • Earn up to $10 in statement credits each month when you pay with your American Express Gold Card at Five Guys, Grubhub, The Cheesecake Factory, Goldbelly, and Wine.com (enrollment required)
      • Up to $100 in annual statement credits ($50 semi-annually) when you use your American Express Gold Card on eligible purchases at U.S. restaurants on the Resy app or Resy.com
      • Up to $84 per year ($7/month) in statement credits after you enroll and pay with your American Express Gold Card at more than 9,000 U.S. Dunkin’® locations (enrollment is required to receive this benefit)

    Why we like it: You might not expect a travel credit card to offer some of the best rewards on your most frequent budget items, but the American Express Gold Card does just that. With 4x points at restaurants worldwide (up to $50,000 in purchases annually) and 4x points at U.S. supermarkets (up to $25,000 in purchases annually), it’s easy to earn rewards on your year-round food spending to put toward an upcoming trip — in addition to travel rewards categories. Combined with travel savings, travel rewards, and flexible redemption options (including transferring to Amex’s partner travel programs), Amex Gold offers great value even if you travel only a few times per year.

    Read our full American Express Gold Card review

    • Rewards rate

      • 5x points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center
      • 4x points on travel
        4x points at gas stations/EV charging stations (on your first $1,000 each quarter)
      • 2x points on dining, streaming services, and at grocery stores
      • 1x points on all other eligible purchases

    • Benefits

      • No foreign transaction fees
      • Up to $100 in statement credits toward your TSA PreCheck or Global Entry application fee once every four years
      • Complimentary Priority Pass™ Select Membership for 4 free visits to over 1,600 airport lounges and experiences

    Why we like it: The U.S. Bank Altitude Connect may be a no annual fee card, but the rewards and perks it offers can bring just as much value as more costly options. Like the other cards on our list, you can earn rewards across a range of travel and everyday categories: 5x points on prepaid hotels and rental cars booked through U.S. Bank’s Altitude Rewards Center; 4x points on other travel and at gas stations or EV charging stations (up to $1,000 spent per quarter); 2x on dining purchases, streaming services, and grocery stores; and 1x on everything else. Redemption options may be slightly more limited than other cards on our list, but you can redeem rewards for a deposit to your U.S. Bank account, travel, gift cards, and more.

    • Annual fee

      $95

    • Welcome offer

      Earn 75,000 bonus points after spending $4,000 in the first 3 months (redeemable for $750 in gift cards or travel rewards on thankyou.com)

    • Rewards rate

      • 10x points on hotels, car rentals, and attractions (booked through CitiTravel.com)
      • 3x points on air travel and other hotel purchases, restaurants, supermarkets, gas stations, and EV charging stations
      • 1x points on all other purchases

    • Benefits

      • Enjoy $100 off a single hotel stay of $500 or more (excluding taxes and fees) when booked through CitiTravel.com (once per calendar year; benefit applied instantly at the time of booking)
      • No foreign transaction fees
      • Transfer ThankYou® Points to participating airline loyalty programs — including TrueBlue®, Virgin Atlantic Flying Club, and Singapore Airlines KrisFlyer — with no fees (minimum transfer of 1,000 points)

    Why we like it: The Citi Strata Premier card is another travel card with a straightforward rewards structure but plenty of potential value. Earning rewards is simple — get 10x points when you book hotels, rental cars, and attractions through CitiTravel.com and 3x points across other hotel purchases, air travel, restaurants, supermarkets, gas stations, and EV charging stations (everything else earns 1x points). In addition to redemptions through CitiTravel.com and for gift cards, you can transfer points to Citi’s partner airline programs.

    • Rewards rate

      • 2x points on travel and dining purchases
      • 1.5x points on all other purchases

    • Benefits

      • Up to $100 in annual statement credits for incidental airline fees such as seat upgrades or baggage fees, plus get a statement credit for TSA PreCheck® or Global Entry application fees every four years
      • Bank of America Preferred Rewards® members can earn up to 75% more points on every purchase
      • Use your card anywhere without incurring foreign transaction fees

    Why we like it: The Bank of America Premium Rewards Credit Card works a bit like a flat rewards card — with a boost. You’ll earn 2x points on travel and dining with an unlimited 1.5x on everything else, which means you’re still getting the 1.5x multiplier no matter what you use your card to buy at home or away. Even better, you may be eligible to increase your rewards earnings even more. If you’re a Preferred Rewards member with Bank of America, you can earn 25% to 75% extra on every purchase, depending on your combined balances across eligible deposit and investment accounts. That could increase your travel and dining rewards to 2.5x to 3.5x and everything else to 1.87x to 2.62x per dollar.

    General travel cards like the ones above can be great for scoring points and miles toward any type of travel. But if you always prefer flying with a certain airline or booking with a specific hotel chain, a co-branded travel card might be more rewarding.

    We included hotel and airline cards in our overall travel card ratings, and the cards below are the top-scoring options.

    Just remember: a co-branded travel card only makes sense if you fly often enough with that airline or stay frequently enough at the hotel to justify its value over a more general card. Make sure you look at your recent travel and any upcoming plans before deciding.

    • Annual fee

      $95

    • Welcome offer

      Earn 80,000 bonus points and a $99 Companion Fare after spending $4,000 or more within the first 120 days after account opening

    • Rewards rate

      • Unlimited 3x points for every $1 spent on eligible Alaska Airlines and Hawaiian Airlines purchases
      • Unlimited 2x points for every $1 spent on eligible gas, EV charging station, cable, streaming services and local transit (including ride share) purchases
      • Unlimited 1x point per $1 spent on all other purchases

    • Benefits

      • Free checked bag on Alaska and Hawaiian Airlines, plus priority boarding on Alaska Airlines, for you and up to 6 guests on the same reservation
      • Get a $99 Companion Fare (plus taxes and fees from $23) each account anniversary after spending $6,000 or more in the previous year
      • Earn a 10% rewards bonus on all miles earned from card purchases if you have an eligible Bank of America® account

    The Atmos Rewards Ascent Visa Signature card has a solid welcome offer and rewards on a combination of everyday spending and Alaska Airline purchases — plus it offers an affordable way to score Alaska’s Companion Fare every year. You’ll earn a $99 Companion Fare (plus taxes and fees) each account anniversary when you spend at least $6,000 in the year prior, or about $500 per month. With 3x rewards on Alaska Airlines spending and 2x on gas, EV charging, cable, streaming services, and local transit (plus 1x on everything else), you can meet that threshold with a combination of travel and everyday purchases while boosting your rewards.

    Read our full review of the Atmos Rewards Ascent Visa Signature

    • Rewards rate

      • 3x miles on eligible Hawaiian Airlines purchases
      • 2x miles on gas, dining, and eligible grocery store purchases
      • 1x miles on all other purchases

    • Benefits

      • Get two free checked bags on eligible flights when you use your card to book on Hawaiian Airlines
      • Receive a one-time 50% off companion discount for roundtrip travel between Hawaii and North America
      • Get a $100 companion discount annually for roundtrip travel between Hawaii and North America after your account anniversary
      • Discounted award flights on Hawaiian Airlines

    If you’re planning a trip to Hawaii, the Hawaiian Airlines World Elite Mastercard can offer amazing savings on your trip. In addition to the bonus miles you’ll get from the welcome offer, you’ll also get a one-time companion discount for 50% off a roundtrip coach ticket between Hawaii and North America. Even after the one-time discount, you’ll still save when you fly to Hawaii with a $100 companion discount every account anniversary which also applies to roundtrip travel between Hawaii and North America on Hawaiian Airlines.

    Read our full Hawaiian Airlines World Elite Mastercard review

    • Annual fee

      $350

    • Welcome offer

      Earn 70,000 bonus miles and 1,000 Premier Qualifying Points (PQP) after you spend $4,000 on purchases in the first 3 months your account is open

    • Rewards rate

      • 3x miles on United® purchases
      • 2x miles on dining, select streaming services, and all other travel
      • 1x miles on all other purchases

    • Benefits

      • Free first and second checked bags + priority boarding
      • Receive a $200 United® travel credit and 10,000-mile award flight discount on each account anniversary
      • Earn 2 global Economy Plus® seat upgrades after spending $40,000 in purchases each calendar year

    United and Chase offer multiple co-branded card options for frequent United Airlines flyers, but we like the The New United Quest Card for a few reasons. The annual fee is higher than some other options, but you’ll get plenty of benefits that can help make up the cost if you fly United at least a few times per year. In addition, get a solid welcome bonus and a wide range of ongoing rewards, from 3x miles on United purchases, 2x miles on other travel, dining, and select streaming services, and 1x on everything else.

    • Rewards rate

      • Up to 26x points at IHG hotels and resorts
      • 5x points on travel, dining, and at gas stations
      • 3x points on all other purchases

    • Benefits

      • Earn a free night on each account anniversary, plus get a fourth night free when you redeem your points for a consecutive four-night stay at IHG properties
      • Receive Global Entry, TSA PreCheck®, or NEXUS statement credit of up to $120 every 4 years as reimbursement for the application fee charged to your card
      • Access perks including free upgrades, welcome amenities, and guaranteed room availability when you book at least 72 hours in advance

    For travelers who prefer to stay in IHG Hotels (which includes brands like InterContinental, Kimpton, Crowne Plaza, Holiday Inn, and more), the IHG One Rewards Premier Credit Card offers a solid balance of rewards potential and annual benefits. Annual perks include automatic Platinum Elite status (qualify for Diamond when you spend at least $40,000 in a calendar year); an anniversary free night worth up to 40,000 points; a $100 statement credit and 10,000 points when you spend $20,000 in a calendar year; your fourth night free on eligible reward stays; and up to $50 United TravelBank Cash each calendar year when you connect your card to your United MileagePlus account.

    • Annual fee

      $95

    • Welcome offer

      Earn 3 Free Night Awards — each night valued up to 50,000 points — after spending $3,000 in the first 3 months (certain hotels have resort fees)

    • Rewards rate

      • Up to 17x points at Marriott: 6x points at participating Marriott Bonvoy® properties, 10x points for being a Marriott Bonvoy® member, plus 1x points for members with Silver Elite Status
      • 3x points per $1 on the first $6,000 spent in combined purchases anually on grocery stores, gas stations, and dining
      • 2x points on all other purchases

    • Benefits

      • Earn a Free Night Award every year after your account anniversary
      • Get automatic Marriott Bonvoy® Silver Elite Status each calendar year, plus receive 15 Elite Night Credits each calendar year and earn 1 Elite Night Credit for every $5,000 you spend
      • Get a one-year complimentary DashPass membership if you activate by 12/31/27

    As one of the most extensive hotel programs in the world, a co-branded Marriott credit card can be a great tool for traveling the world no matter what type of property you prefer. With the Marriott Bonvoy Boundless Credit Card, you’ll get benefits when you stay, like an annual free night award (worth up to 35,000 points) and a path to elite status with 15 Elite Night Credits each calendar year plus one additional Elite Night Credit for every $5,000 you spend. On top of that, get automatic Silver Elite status and Gold Status if you spend $35,000 in a calendar year.

    All information about the Marriott Bonvoy Boundless Credit Card has been collected independently by and is no longer available through Yahoo Finance.

    • Rewards rate

      • Up to 9x total points at Hyatt: 4x when you use your card at Hyatt hotels + 5x as a World of Hyatt member
      • 2x points on your top three spend categories* each quarter
      • 2x points on fitness club and gym memberships
      • 1x point on all other purchases
      • *Eligible categories include: Dining, shipping, airline tickets when purchased directly with the airline, local transit & commuting, social media & search engine advertising, car rental agencies, gas stations and internet, cable & phone services

    • Benefits

      • Spend $50 or more at any Hyatt property and earn $50 in statement credits up to two times per year
      • World of Hyatt Discoverist status for you and up to 5 employees for as long as your account is open
      • Get 5 Tier-Qualifying night credits toward status and Milestone rewards for every $10,000 you spend in a calendar year

    If you’re a Hyatt traveler, the World of Hyatt Credit Card has plenty to offer for savings on your hotel and resort stays. For ongoing rewards, you’ll earn up to 9x points on purchases at Hyatt hotels; 2x points at restaurants, on airline tickets purchased directly with airlines, local transit and commuting, and fitness club and gym memberships; and 1x points on everything else. Compared to other co-branded travel cards, this lineup of rewards categories is pretty unique, which could make it a good pick if those categories line up with your budget while at home or when you travel.

    The points or miles you earn with travel credit cards can be redeemed toward expensive trip costs, such as flights and hotel stays.

    In general, there are two primary ways to earn rewards with a travel credit card:

    1. Earn a generous welcome offer as a new cardholder

    2. Earn rewards on everyday purchases

    Qualifying for a sign-up bonus can significantly boost your earning potential as a new rewards cardholder, so it’s essential that you meet the terms and conditions of the bonus.

    For example, many welcome bonuses require you to spend a certain amount of money on your card within the first few months of card membership. If you don’t typically spend thousands of dollars over the course of three months, consider timing your card application for when you know you have large, upcoming purchases.

    To earn the most rewards possible on everyday purchases, consider travel credit cards with categories that align with your typical spending habits. For instance, if you eat out a lot, a card that rewards you with bonus points or miles on dining may make sense.

    Related: Best credit card sign-up bonuses and welcome offers for 2025 — Enjoy boosted first-year credit card rewards

    Various travel card perks and benefits can help lower your overall trip costs and make life easier as you travel. These could include airport lounge access, travel credits, free checked bags, and more.

    The most beneficial perks for you depend on your travel habits and preferences. If you frequently fly throughout the year, just having a checked bag benefit could save you hundreds of dollars annually.

    3. Take advantage of card protections and insurance

    Part of the benefit of many travel cards is having built-in purchase protection and travel insurance coverage. This could come in handy if your phone or another item is lost or stolen while traveling, if your luggage is delayed or lost, if your trip is canceled or interrupted, or many other potential situations.

    You typically have to pay for applicable trip expenses, such as flights, to take advantage of these benefits.

    Related: Get the most from your cards: How credit card protections work

    Travel credit cards offer points and miles rewards on your spending, which you can use toward travel-related redemptions, such as flights, hotel stays, and car rentals. You’ll often earn the highest rewards rate on travel purchases with a travel credit card, though many also offer boosted rewards on everyday purchases like groceries, gas, and more.

    Many travel cards also provide travel benefits and perks, which could include airport lounge access, annual travel or airline credits, companion airfare, or elite status with an airline or hotel loyalty program.

    Learn more about how travel credit cards work

    When you’re comparing travel credit cards, it can be useful to separate them into two distinct types: general travel rewards cards and co-branded airline and hotel credit cards.

    With a general travel credit card, you’ll have a number of flexible redemption options when you’re ready to redeem your points and miles. You may also have a broader range of benefits. Some general travel credit cards include:

    • Chase Sapphire Preferred Card

    • Capital One Venture X Rewards Credit Card

    • American Express Gold Card

    Travel card issuers generally have their own travel portals, like Chase Travel or American Express Membership Rewards. You can use these to book flights, hotels, rental cars, and more. They may also have a number of travel partners, to which you can directly transfer points or miles. For example, American Express Membership Rewards points transfer to Delta SkyMiles at a rate of 1:1.

    Related: Amex points vs. Chase points — Who has the better rewards program?

    The flexibility of general travel cards means you can travel with any number of different airlines or hotel brands and get the best bang for your buck. Each time you’re ready to book, simply shop around between the portal or partners and compare the best options for your specific travel plans.

    These credit cards also allow other redemption options, such as statement credits, gift cards, and cash back. But you’ll generally get the best value by redeeming points or miles for travel.

    Airline and hotel credit cards

    Airline and hotel credit cards are typically co-branded between the card issuer and the airline or hotel chain. Here are a few examples:

    • Alaska Airlines Visa Signature credit card

    • United Quest Card

    • Marriott Bonvoy Boundless Credit Card

    These cards are best suited for travelers who prefer to fly with a specific airline or stay at a certain hotel chain. Maybe you live near a hub airport, frequent a destination where a specific airline offers the most direct flight options, or you enjoy the perks of a specific hotel’s loyalty program.

    Instead of flexible rewards points or miles, you’ll earn points or miles within the airline or hotel rewards program, like Marriott Bonvoy points or American Airlines AAdvantage miles — and get a boosted rewards rate when you spend directly with the airline or hotel. These cards often offer a faster path to elite status tiers within these programs as well.

    You’ll typically get the best redemption rate when you use rewards for flights with the airline or stays at a hotel, but many programs offer other redemptions, too. Some airline and hotel rewards programs may even allow you to transfer your points and miles to other travel partners like you can with general travel rewards programs.

    The added benefits of co-branded cards are designed to appeal to loyal airline or hotel customers. For example, your airline card may get you priority boarding, upgrades, free checked bags, and in-flight discounts. And your hotel card may offer early check-in or late checkout, annual free night awards, and on-site credits.

    Co-branded travel cards aren’t for everyone, but they can add a lot to your travel experience if you have a strong airline or hotel preference.

    Here are a few key details to look for in any new travel credit card:

    No matter your budget, there’s a travel credit card with an annual fee that fits. You can find solid no annual fee options, like the U.S. Bank Altitude Connect Visa Signature card. But there are also plenty of premium travel cards with steep fees — the American Express Platinum Card®, for example, may set you back $695 per year (see rates and fees) but comes with an abundance of valuable benefits and perks that can potentially give you even more value back each year.

    The most important thing to keep in mind when deciding whether an annual fee is worth it for you is whether you can get enough out of the rewards and benefits to outweigh the cost — without spending more than you otherwise would or can afford.

    For new cardholders, a sign-up bonus can offer major first-year value. These bonuses may be worth anything from 10,000 to over 100,000 bonus points or miles — which can translate to hundreds of dollars in rewards value.

    However, you should compare the terms of the bonus to your own budget before you apply. For example, you may need to spend $4,000 within the first three months of opening your card before you can earn the 60,000 bonus points. If that’s not within your typical spending, be careful not to take on debt to meet the spending threshold. Accruing high interest on balances can quickly outpace even the best bonus.

    One smart strategy is opening a new travel credit card when you’re booking a trip you’ve been saving for. You may already be prepared to spend more than usual, which can help you reach the bonus requirement faster. Plus, you can earn rewards on those travel purchases to put toward future trips.

    Also look out for limited-time offers from top travel credit cards. Occasionally, issuers will increase the welcome bonus for a period of time — if you see a promotional offer that fits within your budget, that could be a great time to apply for a new card.

    Rewards are one of the biggest reasons for many people to open a travel credit card.

    Earning rewards with travel cards often works in one of two ways. You’ll either earn rewards on your everyday spending (groceries, gas stations, restaurants) to redeem toward future travel, or earn rewards on your travel spending to put toward future travel.

    Some cards offer a combination of these rewards, but knowing which type of spender you are can be useful. If your monthly budget is largely dedicated to everyday spending, you may get more value from the former. But if you travel frequently and spend a lot of money on flights, hotels, and rental cars, you can quickly rack up more points with travel-based rewards categories.

    4. Travel perks and benefits

    Many travel rewards credit cards — especially the most premium cards with high annual fees — really shine when it comes to added perks and benefits. These benefits can help you offset the annual fee and save money each time you travel.

    Take the $395 annual fee Capital One Venture X Rewards Credit Card, for example. Each year, you’ll get a $300 annual credit for bookings through Capital One Travel and 10,000 bonus miles (equal to $100 towards travel) on your account anniversary. Already, that’s enough to wipe out the annual cost — before accounting for any rewards and other benefits (like up to $120 in fee credits toward TSA PreCheck or Global Entry and Priority Pass Select airport lounge membership).

    Just remember: Choose a card with benefits that help you save on purchases you would still have made otherwise. If you tend to arrive shortly before takeoff and don’t care about airport lounge access, you won’t actually get the $200 potential value from that benefit.

    5. Travel insurance and protections

    One unique aspect of travel credit cards is the protections you can get as a cardholder when you travel. Common protections offered by travel credit cards include trip cancellation and interruption insurance, car rental insurance, trip delay reimbursement, baggage delay insurance, access to emergency assistance services, and more.

    As long as you pay for your travel expenses with the card (booking flights, hotels, tours, etc.) you can qualify for these travel protection benefits. Like any coverage, though, you should make sure to read the fine print of what your individual card offers. These benefits can vary greatly between different travel cards, so make sure to look for details in your card agreement.

    More travel credit card tips

    Travel credit cards are worth it if you get enough value from the card’s benefits and rewards to outweigh any potential costs, such as an annual fee. Unlike some other rewards cards, like cash-back credit cards, travel cards are more likely to carry annual fees in exchange for their high rewards rates and annual benefits. They might not be worth it if you don’t travel enough to take advantage of these card benefits and rewards.

    However, a travel card can still be worth it if you’re not a frequent traveler. Even if you travel only once or twice per year, you can accumulate points throughout the year to offset your airfare and hotel costs when you do go on a trip.

    See if travel credit cards are worth it for you

    Travel rewards credit cards can make a great addition to your wallet, even if you only travel a few times per year. Be sure to compare different travel card options to find the combination of annual fee, rewards, benefits, and sign-up bonus that works best for your travel plans and spending.

    There may be a few reasons why a travel credit card isn’t right for you, though:

    • You’re already in credit card debt. Avoid adding another card — especially one with a potentially high annual fee — to your wallet if you already have high-interest debt. Eliminating those balances will help you save a lot more in interest than any value travel rewards could offer.

    • You don’t want to keep up with a rewards strategy. Travel credit cards can be most lucrative if you maximize how you earn and redeem rewards. If you don’t want to spend the time strategizing bonus categories and the best redemption options, a credit card with a simpler rewards structure may be better for you.

    • You don’t have great credit. Travel credit cards generally require a good-to-excellent credit score to qualify for approval. If your credit isn’t in a great place right now, focus on improving your score before you apply for a new card.

    If you are ready to open a travel credit card, time your application wisely. The spending thresholds to earn your welcome bonus can be high, so you may want to plan your application around your next trip. The money you’ve already saved can help you score the bonus when you book your travel, and you’ll also earn bonus points or miles for your next trip.

    If you’re new to travel credit cards, the Capital One Venture Rewards Credit Card is a great place to start — you can earn 2x miles on everything, and it’s easy to redeem your miles through Capital One’s travel portal.

    Before you apply for any new travel card though, look at your frequent spending and travel to find the best one for your individual goals.

    When traveling abroad, look for credit cards that don’t charge foreign transaction fees. All of the cards on the list above waive foreign transaction fees, so you won’t have to worry about extra charges when you use them to travel internationally.

    One thing to keep in mind while traveling abroad is worldwide acceptance of your card. It can be useful to travel with more than one credit card on different card networks (these include Visa, Mastercard, American Express, and Discover).

    For a premium travel experience, the Capital One Venture X Rewards Credit Card is our top pick. However, there are other premium travel cards with valuable benefits for travelers — including annual credits, elite status, bonus rewards, and more — for higher annual fees.

    Read our full review of the Capital One Venture X Rewards Credit Card

    Compare two more premium travel credit cards: The Platinum Card® from American Express and the Chase Sapphire Reserve®

    We began our search for the best travel cards with a list of 70 credit cards that offer travel rewards and benefits. This list includes general travel cards with flexible rewards programs, as well as co-branded hotel and airline cards that earn points and miles within a specific program. Our methodology focuses on cards that offer the greatest value to the broadest range of cardholders — without a significant annual cost.

    We start with each card’s welcome offer, which we rate based on the value of the bonus, the spending required to qualify, and a ratio comparing the bonus points or miles earned to the card’s annual fee. The more you’re spending to own the card, the more value we believe you should get in return.

    Another large portion of the overall ratings is rewards and ongoing benefits. We give preference to cards with rewards categories that span both travel and everyday spending (gas stations, supermarkets, dining, streaming services, etc.) to help ensure you can maximize points even when you’re not on-the-go. We also consider redemption options for each card, with the most flexible rewards programs earning higher scores. Finally, we compare travel benefits like annual statement credits, airline status and award nights, companion offers, and other ongoing perks that might make opening a travel card worth it over the long-term.

    We also look at each card’s annual fee, ongoing APR, credit score access, and foreign transaction fees — as well as issuer-specific information like customer service contact information, mobile app user ratings, and fraud protections. These are details we evaluate for every type of credit card.

    The final picks on our list are the travel credit cards with the highest overall ratings given each of the criteria above. We sort out general travel cards first — these are the options that make up the primary list, because they are more flexible for a larger number of travelers. But we also include top-scoring hotel and airline co-branded cards. These are great options for some travelers, though you should consider how often you travel with the hotel or airline before you consider one of these cards.

    Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.

    [ad_2]

    Source link

  • BOE to Embrace Uncertainty, and Bernanke’s Guidance, With Communications Revamp

    [ad_1]

    The central bank place will more emphasis on developments that could upend its expectations and less on forecasts that convey too much certainty about the future.

    [ad_2]

    Paul Hannon

    Source link

  • 3 Ways to Get Credit for Your Success—Without Sounding Like a Braggart

    [ad_1]

    Some people are insufferable. You don’t want to be around them because they talk nonstop about how awesome they are.

    Other people are just as accomplished (if not more so!), and are great people you want to spend time with. Obviously, you know they are super accomplished, so at some point, they must have mentioned what they do.

    What’s the difference? How can you get credit for what you do without sounding like an annoying know-it-all?

    Build strong relationships first

    If you walk into a room of strangers and say, “Yes, it is I, the person who developed the system you use every day!” people may be impressed, but they will think you’re insufferable.

    Lorraine K. Lee, author of Unforgettable Presence, said on the Stacking Benjamins podcast, “If you have strong relationships with the people with whom you’re sharing the work, that is very important. Relationships are the foundation of business, and if people know you and they know your intentions and your personality, it’s very unlikely they are going to think…[they] are just bragging all the time about themselves, they’re just trying to be helpful.”

    You can certainly see the difference. When your friend or respected colleague accomplishes something, you are proud of them and rejoice in their success. 

    So, building strong relationships first is the most important thing. This isn’t to say you can’t accomplish anything at a new job until you’ve become besties with people. In fact, being best friends isn’t necessary to a strong relationship.

    How to build relationships at work

    Gorick Ng, the author of The Unspoken Rules: Secrets to Starting Your Career Off Right, gave a four-step process to building relationships at work. Writing at Harvard Business Review, Ng says to:

    1. Break the silence. This is easy enough–say hi, introduce yourself and don’t wait for others to introduce themselves first.
    2. Turn “Hi” into “Hi again.” This is reaching out a second time. It may be saying hi in the hallway again, or saying, “It was lovely to meet you today” in a text. Just do it a second time.
    3. Turn “Hi again” into “Let’s chat.” Ask them for their input or advice on what you’re working on. Or, ask them to share their story and ideas with you.
    4. Turn “Let’s chat” into “Let’s build a relationship.” At this point, you can share your goals and hopefully some of the people you chatted with can be helpful, but keep in mind that helpfulness goes both way — you should be looking to help others.

    Note that none of this requires you to share personal information. You can build great professional relationships without letting them know about your marital issues or workout routines.

    Once you have strong relationships, you don’t need to worry about bragging around the people with whom you have relationships. But one more thing is very, very important: Recognizing other people’s successes.

    Recognize and acknowledge others

    If you have strong relationships, you will also want to credit those people with successes. So, if your success was 100 percent your own effort, then yes, take that credit! Tell other people. But if your success involved others (which almost all successes do) make sure you acknowledge that.

    Leanne Calderwood, a personal branding expert, explains that recognition not only serves to make others happier and well respected, but it boosts your visibility as well. She writes:

    “In any group — be it your workplace, your circle of friends, or your online community — the person who consistently recognizes others takes on a leadership role. Leadership isn’t always about titles or formal authority. It’s about influence, support, and the ability to inspire others to perform their best.”

    So, yes, if you want others to hear about your successes, you can talk about them, but first make sure you’ve built relationships and that you recognize others for their successes and their contributions to your success.

    That way, you won’t come across as insufferable.

    The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

    [ad_2]

    Suzanne Lucas

    Source link

  • Exclusive | How a Handyman’s Wife Helped an Hermès Heir Discover He’d Lost $15 Billion

    [ad_1]

    Nicolas Puech says his wealth manager isolated him from friends and family and siphoned away a massive fortune. Then came the clue that began to reveal the deception.

    [ad_2]

    Nick Kostov

    Source link

  • Fee-based credit cards come with perks—but they aren’t for everyone – MoneySense

    [ad_1]

    Choosing the right credit card for your stage in life

    Credit cards that come with more perks and benefits are likely to carry an annual fee, which can be as high as $799. Most credit cards on the market though have fees closer to $120 per year, she said. 

    Macmillan said consumers need to look at where they are in their lives when applying for a credit card. For students and young adults, she recommended looking into a no-fee card, which can help build your credit score without the added expense of a fee. Macmillan said secured credit cards—which require a cash deposit—work great for people building or rebuilding their credit scores. These cards are more accessible compared with other kinds of credit cards and don’t carry a monthly or yearly fee.

    For an early-career individual or a young professional who may have a better grasp on their spending habits, a fee-based credit card could help unlock perks that align with their lifestyle, Macmillan said.

    But it’s important to do the math beforehand, said Melissa Leong, author of Happy Go Money. “Write down numbers. Write down the annual fee, maybe figure out the earn rate,” she said. The earn rate is the percentage or number of rewards you get for every dollar spent on the card.

    Leong said if a credit card requires a minimum spending threshold to access its perks and it’s encouraging you to spend when you otherwise might not have, then it may not be right for you. “You’re trying to align the card to your life, not the other way around,” she said.

    Featured travel credit cards

    featured

    Scotiabank Gold American Express Card

    Earn up to 6 Scene+ points per $1 spent and save on foreign transaction fees.

    GO TO SITE


    Interest Rates:
    20.99% purchase, 22.99% cash advance, 22.99% balance transfer


    Welcome offer:
    $500 value



    Earn up to $1,050 in welcome offers, first year rewards and savings value, including no annual fee in your first year, and up to 50,000 bonus Scene+ points.

    featured

    American Express Cobalt Card

    Earn up to 5 MR points per $1 spent and transfer them to partner loyalty programs.

    GO TO SITE


    Interest Rates:
    21.99% purchase, 21.99% cash advance, N/A balance transfer


    Welcome offer:
    $150 value



    Earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.

    featured

    MBNA Rewards World Elite Mastercard

    Get 5 MBNA Rewards points per $1 across five categories, plus an annual bonus of 10% in points.

    GO TO SITE


    Interest Rates:
    21.99% purchase, 22.99% cash advance, 22.99% balance transfer


    Welcome offer:
    $200 value



    Earn 20,000 bonus points (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days.

    Premium cards can pay off—if you use them wisely

    Understanding your annual spending habits is key when applying for a fee-based credit card, said Jessica Morgan, founder and CEO of financial blog site Canadianbudget.ca. There are rules to earning rewards, she said. Some may offer higher rewards for spending money at a gas station, while others may have better perks for those who eat at restaurants often or travel avidly. “If those are categories that you are frequently spending in, then it might make sense to look at cards that align with that level of spending,” Morgan said.

    Macmillan said cards with an annual fee typically offer higher reward rates, but they only make sense if you aren’t carrying debt. “The premium credit cards usually work best for individuals who use their credit cards often, who pay their credit card balances in full each month,” she said. They’re also only worth it if you’re using the perks.

    With the higher cost of living nowadays though, more people have been opting for cash back credit cards because it can help offset daily expenses, Macmillan said.

    Article Continues Below Advertisement


    Leong likened fee-based credit cards to subscriptions, suggesting people set a calendar reminder ahead of the yearly fee renewal to assess whether it’s still worth the extra money. “Ask yourself a couple of questions: Did I use the perks it provides? Is it worth the value for the fee? And do I carry a balance?” she said.

    Often, people think they’re going to use the perks of a fee-based card, but that doesn’t always happen. Leong said if people haven’t used the perks by the time the yearly fee renews, it’s unlikely that’s going to happen after the renewal.

    Focus on paying down balances before chasing rewards

    For those carrying a balance, Leong said the perks shouldn’t be a priority. Instead, they should opt for a low-rate, no-fee card and curb new spending until the balance is paid off.

    Many Canadians carry multiple credit cards. Morgan said having multiple can give a bit more flexibility and backup. And if those cards are free, there’s no added cost. However, she warned not to apply for multiple credit cards at once because it can affect your credit score.

    “Just be mindful of how frequently you’re applying for different cards,” Morgan said. “The best way to get the benefit of any credit card is to not have to pay any interest on it.”

    Get free MoneySense financial tips, news & advice in your inbox.

    Read more news:



    About The Canadian Press


    About The Canadian Press

    The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

    [ad_2]

    The Canadian Press

    Source link

  • Canada’s Bank Supervisor to Propose Easing of Financial-Stability Rules

    [ad_1]

    OTTAWA—Canada’s banking regulator said the watchdog would issue proposals in the coming months to ease capital-buffer requirements amid the abrupt change in the geopolitical dynamics fueled by President Trump’s tariff policy.

    Peter Routledge, the head of the Office of the Superintendent of Financial Institutions, said domestic lenders “argue that the shift before us demands more intelligent risk-taking, risk-taking to help economies shift their economic model to the world emerging.”

    Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

    [ad_2]

    Paul Vieira

    Source link

  • Canada’s Banking Sector Needs Increased Competition, Bank of Canada Official Says

    [ad_1]

    OTTAWA—The Bank of Canada’s No. 2 official endorsed a competition shakeup in the highly concentrated financial-services industry, saying the country’s banking sector is an oligopoly and changes could help lift Canada’s prolonged productivity slump.

    Carolyn Rogers, the central bank’s senior deputy governor, on Thursday said Canadian authorities have done a stellar job in regulating banks by ensuring they have enough capital to survive shocks such as the 2008-09 financial crisis and the Covid-19 pandemic. “It would also be hard to argue, on any objective measure, that Canada’s banking system is anything other than an oligopoly,” Rogers told a blue-chip Toronto audience.

    Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

    [ad_2]

    Paul Vieira

    Source link

  • Gen Z credit scores are having a ‘catastrophic drop’—student loans and doomspending may be to blame | Fortune

    [ad_1]

    As Gen Z awaits its share of the $124 trillion Great Wealth Transfer from their baby boomer relatives, the generation’s financial footing is being put to the test.

    Typically, younger consumers see the fastest year-over-year gains in credit scores as they build their financial histories. But this year, the opposite happened: Gen Z just experienced the steepest annual drop of any age group since 2020, with their average FICO credit score slipping three points to 676. That’s 39 points lower than the national average of 715, according to a new FICO report.

    The decline is a “red flag,” said Erin Stillwell, head of payments at Globant—not only for young consumers, but for the health of the broader credit market.

    “Today’s young adults borrow just to reach baseline stability, not luxury,” she told Fortune. “The decline reflects a generation building financial identity in a system that rewards stability but gives volatility.”

    And that volatility is piling up. Gen Z is more likely to feel the sting of stubborn inflation and high interest rates. With less time to build savings, invest in the stock market, or benefit from home appreciation, they’re already on shakier financial ground than their older counterparts. Add in the return of student loan payments and the rise of “doomspending”—the impulse to spend as a way with financial anxiety—and it’s become a perfect storm.

    “Compared to past generations, Gen Z’s financial fragility isn’t just cyclical—it’s structural,” added Stillwell. “Gen Z is the first cohort facing high inflation, digital credit, and social-media-driven consumption pressure simultaneously.”

    The long-term financial ‘snowball’ that could trap Gen Z

    While it’s not uncommon for credit scores to ebb and flow—especially amid major shifts like the return of student loan payments—the current downturn could have lasting consequences if spending and repayment habits don’t change.

    “I really was so disheartened when the information came out that Gen Z, the generation that is coming up, [that is supposed] to essentially help our country move in the way that it’s supposed to move… saw this catastrophic drop,” credit expert Micah Smith told Fox Business. “Once the credit scores drop, it’s like this snowball effect. Because what it does is, it impacts everything you do moving forward.”

    A lower credit score can make it harder to qualify for credit cards or loans, push up borrowing costs, or even affect car insurance or apartment applications. Over time, that can trap young adults in a cycle of debt and missed opportunities to grow their financial futures—from starting a business to buying a home.

    Homeownership in particular, long considered a cornerstone of the American Dream, is already slipping further out of reach. Gen Zers now carry more than $94,000 in personal debt on average, a Newsweek poll showed—far more than millennials’ roughly $60,000 or Gen X’s $53,000. With rent prices still high across much of the country, saving for a down payment can feel nearly impossible.

    “It’s not just an individual issue—it’s a societal one,” Stillwell said. “A generation unable to build financial stability translates into lower economic dynamism and weaker household formation.”

    Still, she said there’s room for optimism—especially if Gen Z treats their financial health just how they treat their body’s wellbeing: “Forgive yourself for early mistakes, but learn from them fast.” 

    “Financial resilience isn’t perfection; it’s iteration,” Stillwell said.

    Fortune Global Forum returns Oct. 26–27, 2025 in Riyadh. CEOs and global leaders will gather for a dynamic, invitation-only event shaping the future of business. Apply for an invitation.

    [ad_2]

    Preston Fore

    Source link

  • Comerica Stock Soars. Fifth Third to Buy Peer for $10.9 Billion as Bank Mergers Heat Up.

    [ad_1]

    Fifth Third Buys Comerica for $10.9B in Year’s Biggest Bank Deal. Which Firms Might Be Next.

    [ad_2]

    Source link

  • Federal government shutdown delays jobs report release, adding economic uncertainty

    [ad_1]

    The jobs report, which usually comes out on the first Friday of every month, will not be released today. Two private surveys that came out this week show *** wide range of numbers. The payroll provider ADP issued its monthly employment data, which does not include government agencies, showing the economy lost 32,000 jobs in September, while another survey by FactSet suggests 50,000 jobs were created at an already uncertain time in the economy. This is making things even more unclear. If the official government jobs report is delayed for several weeks, it could create *** Challenge for the Federal Reserve as they decide to change key interest rates which impact mortgages, loans, and credit cards. We’ve seen jobs reports delayed before during other government shutdowns in 2013 and 1995, the release of the jobs report was paused, but during the longest government shutdown in US history from 2018 to 2019, the jobs report was released, and that was during President Trump’s first term in office at the White House. I’m Rachel Herzheimer.

    Federal government shutdown delays jobs report release, adding economic uncertainty

    The ongoing federal government shutdown postponed the release of the monthly jobs report, adding to economic uncertainty.

    Updated: 4:35 AM PDT Oct 3, 2025

    Editorial Standards ⓘ

    The federal government shutdown has reached its third day, with senators preparing to vote again on short-term budget proposals from both parties, which have failed multiple times.Bipartisan talks continue, but Republicans remain firm in their demand that the government reopen before addressing Democratic health care demands, which include extending credits for cheaper private health care and reversing Medicaid cuts. The jobs report, usually released on the first Friday of every month, will not be published today due to the shutdown. Two private surveys released this week show differing data: payroll provider ADP reported a loss of 32,000 jobs in September, while FactSet suggested 50,000 jobs were created.The delayed report adds to the uncertainty in an already unclear economic situation and could pose a challenge to the Federal Reserve in deciding interest rate changes, which impact mortgages, loans, and credit cards.Previous shutdowns in 2013 and 1995 also saw delays in jobs reports, although the report was released during the longest shutdown in U.S. history, under President Donald Trump’s first term.Keep watching for the latest from the Washington News Bureau:

    WASHINGTON —

    The federal government shutdown has reached its third day, with senators preparing to vote again on short-term budget proposals from both parties, which have failed multiple times.

    Bipartisan talks continue, but Republicans remain firm in their demand that the government reopen before addressing Democratic health care demands, which include extending credits for cheaper private health care and reversing Medicaid cuts.

    The jobs report, usually released on the first Friday of every month, will not be published today due to the shutdown.

    Two private surveys released this week show differing data: payroll provider ADP reported a loss of 32,000 jobs in September, while FactSet suggested 50,000 jobs were created.

    The delayed report adds to the uncertainty in an already unclear economic situation and could pose a challenge to the Federal Reserve in deciding interest rate changes, which impact mortgages, loans, and credit cards.

    Previous shutdowns in 2013 and 1995 also saw delays in jobs reports, although the report was released during the longest shutdown in U.S. history, under President Donald Trump’s first term.

    Keep watching for the latest from the Washington News Bureau:


    [ad_2]

    Source link

  • Fossil discovery reinvents story of echidna and platypus evolution

    [ad_1]

    If you’ve always thought echidnas and platypuses were distant cousins who went their separate ways on land and water, think again. A single fossilized arm bone, found in a remote corner of southeastern Australia three decades ago, is rewriting that family history—and possibly changing what scientists thought they knew about how mammals adapt to different environments.

    They both belong to the Order Monotremata, a unique order of mammals that give birth to eggs instead of live offspring. The platypus is busy these days racing up and down creeks and rivers, and echidnas burrow around on the ground searching for ants, termites, and worms.

    Scientists used to believe a while ago that they descended from an animal which inhabited the land, and platypuses subsequently developed to inhabit water. But new finds indicate otherwise: the origins of echidnas and platypuses may have started in the sea.

    A photo of an echidna. (CREDIT: Gunjan Pandey)

    A fossil with a tall tale to tell

    The find was directed by UNSW Sydney School of Biological, Earth and Environmental Sciences Emeritus Professor Suzanne Hand and a team of researchers. The fossil represents the incomplete left half of one upper arm bone of a small mammal named Kryoryctes cadburyi. It is estimated to have lived 108 million years ago during the Early Cretaceous era when dinosaurs ruled the earth.

    It was found in the early 1990s by Museums Victoria excavators at Dinosaur Cove, a site that was famous for yielding cryptic ancient finds. The bone was at first thought to resemble the bone of an echidna today, and some had believed that it could be an echidna’s ancestor. Others believed that it could be a stem-monotreme, an ancient relative of the platypuses and echidnas.

    But it wasn’t until scientists decided to ignore its outside form and look inside using sophisticated scanning techniques that the breakthrough finally came. “Where the outside shape of a bone will enable you to compare it directly to similar animals, its internal structure will tend to reveal something about its lifestyle,” says Hand.

    Inside the bone: secrets of the past

    In the humerus, researchers found features like those of no extant echidna. The bone had robust walls with a very small central cavity—features of semiaquatic mammals like the platypus. Dense bones play the ballast function in order to allow animals to dive and stay underwater without breaking through to the surface. Echidnas have lightweight bones more appropriate for digging on land.

    Phylogenetic relationships of K. cadburyi among mammaliaforms. (CREDIT: Suzanne Hand, et al.)

    Phylogenetic relationships of K. cadburyi among mammaliaforms. (CREDIT: Suzanne Hand, et al.)

    The research explains Kryoryctes cadburyi as a semiaquatic digger and perfectly adapted to both life in water and also in soil. That would suggest an amphibious ancient monotreme way of life previously assumed by scientists to be otherwise. If indeed so, echidna and platypus development started in water and echidnas then evolved out of water to a life entirely on land.

    “Such a scenario would be a highly unusual phenomenon,” Hand states, adding that while there are some 30 examples of mammals evolving from land to sea—whales, dolphins, seals, and otters, say—there is scarcely a reversion.

    Rethinking monotreme history

    The fossil also indicates how little the platypus has changed. UNSW co-author Professor Michael Archer also adds that the line of evolution that has resulted in today’s platypus has exhibited extraordinarily high “niche conservatism” for over 100 million years, i.e., they’ve lived pretty much the same way for a very long period of time. The echidnas are a radical departure from such waterborne origins.

    However, the fossil record of monotreme ancestors is limited. Jaw and tooth parts contribute to most Australian Mesozoic mammal fossils. Limb bone Kryoryctes cadburyi is the only one that is from that period, and it gives scientists a unique opportunity to learn about the animals’ habits.

    “This humerus has given us an absolute great opportunity to find out about early Australian mammals and how they lived, and it is telling us a story—maybe one that we were not hoping to hear,” he says.

    Kryoryctes humeral shape compared with extant monotremes. (CREDIT: Suzanne Hand, et al.)

    Kryoryctes humeral shape compared with extant monotremes. (CREDIT: Suzanne Hand, et al.)

    Sign of aquatic life in living echidnas

    Echidnas are not river-swimming like platypuses but retain the marks of waterborne heritage in their bodies. Firstly, their bills have fewer electroreceptors—sensitive probes that pick up the faint electrical signals from prey—such as in a platypus’s bill. They are perhaps vestigial traces of an archaic foraging system. Even embryonic echidnas retain a weak trace of this heritage: traces of a platypus-like bill in embryonic stages.

    Their legs are a hint too. Echidnas, and also platypuses, retain backward-pointing hind legs, though they use them to dig these days and not to swim. Backward-facing foot is not typical for mammals apart from the monotremes. Physiology also digs it out.

    Echidnas also have a diving reflex—slowing of heart rate and conserving oxygen during submersion—the same as aquatic mammals. Myoglobin analysis, which measures the amount of oxygen-storing muscle protein, reveals echidnas have more than expected quantities for a burrowing mammal, showing their ancestors had once depended on extensive diving.

    Technology converges with paleontology

    Since the Kryoryctes fossil is so unusual, researchers can’t just slice it open to look at its microscopic makeup, or histology. Instead, they’re using high-resolution, non-destructive scanning methods like synchrotron imaging to study the bone at increasingly smaller levels of detail.

    Bone microstructure attributes of Kryoryctes compared with extant mammals. (CREDIT: Suzanne Hand, et al.)

    Bone microstructure attributes of Kryoryctes compared with extant mammals. (CREDIT: Suzanne Hand, et al.)

    The scientists are hopeful that such technologies will reveal more of the patterns of growth, physiology, and lifestyle of the animal without sacrificing the specimen. The research continues, and scientists are also applying their research to other fossil beds like Lightning Ridge in New South Wales. These beds have Mesozoic-age beds which have the potential to yield more monotreme remains, which can reconstruct missing links to this evolutionary past.

    Why it matters

    The new information rewrote not just our knowledge of the evolutionary history of platypus and echidna, but the general picture of how mammals evolve—or re-evolve—to new continents. If echidnas did inherit a marine ancestor, they belong to an extremely small minority of mammals to do a reverse of the common land-to-sea jump of evolution.

    It poses interesting questions about what opportunities and pressures led echidnas onto land. Was it competition for food? Climate change? Or a combination of factors? Without more fossils, the answers remain out of reach. But one thing is clear: the story of these egg-laying mammals is far from finished.

    From a single ancient bone, we’re learning that the history of life is rarely a straight line. Evolution can take surprising detours, and sometimes, it even turns around.

    Research findings are available online in the journal PNAS.

    Related Stories

    Like these kind of feel good stories? Get The Brighter Side of News’ newsletter.

    [ad_2]

    Source link