Credit Unions in Canada

Credit Unions in Canada play a very important role in the Canadian financial system. They provide credit and other financial services in many cities accrosss Canada helping Canadian consumers and businesses.

Premium Benefits of Air Miles

Credit unions, online companies, airlines, and big banks such as Scotiabank and the Bank of Montreal offer airmiles cards to customers. Travel cards are available to existing and new individual customers and businesses. Issuers offer platinum and other specialty cards with benefits such as discounts toward accommodation, hotel upgrades, and others. Specialty cards feature shopping assistance, access to special events, and hospitality services. Financial institutions offer signature services, vacation planning advice, and discounts on luggage shipping, dining, and admission. Cards with no foreign transaction fees are ideal for frequent travelers and international travels. Customers can choose from attractive and last minute offers, including beach hotels and honeymoon suites. Financial institutions also partner with major Canadian and other airlines and offer bonus points toward air travel. The Royal Bank of Canada offers promotions, flight deals, and extra points. Long haul flights to Alaska and Hawaii require between 45,000 and 55,000 rewards points. Cards that offer flexible redemption schedules include RBC Visa Business Avion and Avion Visa Infinite Privilege.

Additional Benefits

Specialty credit cards offer platinum benefits such as pre-sale tickets, annual fee waivers, membership rewards, and other perks. Some issuers  offer cards with shopping deals, food and wine tastings, roadside dispatch, and others. Specialty cards feature free international shipping and discounts at luxury restaurants. There are airmiles cards with discounts on spa and accommodation, golfing supplies, clothing, and other items. Banks offer specialty cards with discounts on aquarium admission, ocean centers, and merchandise, including electronics and accessories. Additional cards are offered to close family members such as domestic partners, siblings, parents, children, and spouses. While airmiles cards offer plenty of exclusive benefits, some issuers charge high annual fees and processing fees. Ask about the fees and interest if you only pay the minimum. If you have poor or average credit, you may qualify for a secured card with travel benefits.

Criteria and Approval

Airmiles cards are reserved for high income earners and creditworthy applicants. Financial establishments require that applicants provide their social insurance number to run a credit check. Provide information about your monthly rent or mortgage amount.

Related Resources:

Scotiabank Credit Cards for Branded Merchandise and Premium Travel

The Bank of Nova Scotia features standard and specialty financial services, total equity plans and loans, mutual funds and high interest savings accounts, and credit cards. Cards come in different versions, including student, low interest, cashback, and others.

Cardholder Benefits That Go with Consumer Cards

Scotiabank features cards by American Express and Visa and offers perks such as travel benefits, special promotions, extended interest-free periods, and many others. Points are redeemable for merchandise such as disc players, briefcases, home entertainment systems, bangles and necklaces, LED smart TVs, and other merchandise. Participating merchants also offer rewards such as dinnerware sets and casseroles, wine gift sets, 4-slice toasters, electric slow cookers, and other kitchen appliances and items. Scotiabank offers a rewards program that features cash back, travel benefits, and rewards points redeemable for digital cameras, watches, binoculars, tablets, and other electronics. You need about 10,000 points for a multifunction backpack and 57,000 points for binoculars. A LED smart TV requires 340,000 rewards points while a disc player costs 29,000 points. The bank also offers a newsletter that features special offers and rewards. In addition to rewards points, customers are also offered cards with no annual fees, low rate, cash back, and other premium benefits. Some no fee cards go with 1 percent cash back on recurring payments and purchases and low introductory rates. There are several no fee cards to look into, including Scotiabank Rewards Visa, SCENE Visa, and No-Fee ScotiaGold Visa. There are specialty cards such as the ScotiaHockey Visa that offer points toward tickets, gear, and other NHL merchandise.

Scotiabank Credit Card Application

The Bank of Nova Scotia offers handy online tools that allow holders to redeem points, transfer funds, request a higher credit limit, and more. It is easy to request supplementary cards online, and no fees apply on additional No-Fee ScotiaGold Visa, Scotiabank Value Visa, and Scotia Momentum No-Fee Visa cards. There are special offers with large bonuses of 5,000 to 30,000 rewards points and low intro rates. Some cards go with an introductory rate that is as low as 0.99 percent.

Business Cards with Premium Benefits

The bank also offers specialty cards to business customers, including cards with unsecured and secured rates, large limits, cash back, and no annual or monthly fees. Business cards feature added benefits such as flexible repayment schedules, personalized checks, and attractive discounts at participating merchants. Retailers offer discounts of 3 to 25 percent and it is free to enroll. Secured credit cards are also offered, for example, ScotiaGold Passport which goes with credit and investment vouchers, gift certificates, brand-name merchandise, and unrestricted and flexible travel options. Added benefits include travel assistance and free checks to pay utility, dental, and mental bills, policy premiums, and other expenses.

Fees and Charges

The bank assesses cash advance ATM and counter fees, balance transfer and currency conversion fees, and inactivity fees. Customers who fail to meet the monthly payments are assessed penalty interest.

U.S. Dollar Student Cards

Financial institutions feature student cards with a low purchase rate and discounts. Student cards are designed for small and everyday purchases and urgent expenses. Regular payments help students to improve their credit score. Bank Offers Students are offered plenty of choice, from prepaid and secured cards to low cost solutions. Customers are offered multiple benefits, […]

Continue reading →

Canadian Cards to Boost Your Purchasing Power and Reduce the Cost of Purchase

Sharing their lives with each other

Options for Individual Customers Financial institutions in Canada accept applications by residents and citizens of the age of majority. Banks are unlikely to approve your application if you have late payments. The interest rate offered depends on your credit rating. The application requirements vary from one bank to another, but rewards cards with many perks […]

Continue reading →

Ways to Build or Rebuild Credit

Credit history is based on two different factors: revolving credit, such as credit cards, and installment loans, like personal loans. Borrowers who seek to rebuild credit are advised to consider both options –  revolving credit and installment loans. At the same time, borrowers with credit problems and histories of late or missed payments are viewed […]

Continue reading →

Rewards Credit Cards with Added Extras


Airmiles and rewards credit cards feature plenty of added benefits to attract more customers. Different banks and credit unions offer rewards cards, along with supplementary cards and other perks. Customers benefit from discounts on merchandise and apparel as well as experience awards, for example, tickets for shows and concert events. There are credit cards with […]

Continue reading →

Bank Cards with Reasonable Credit Limits

There is a selection of financial products on the market, including secured cards with reasonable limits. While some cards have a limit of $300 or $500, there are products with better terms. Payment History and Other Factors Banks take a number of factors into account, but the most important ones include personal income and credit […]

Continue reading →

Business Financial Solutions

Banks, credit unions, non-bank lenders, and governments offer small business loans. Borrowers can choose from different financial solutions such as commercial and business term loans, cash flow finance, business loans and lines of credit, and others. Applicants for business funding can choose from disaster and real estate loans, micro-loans, and others. Banks also offer professional, […]

Continue reading →

How to Benefit from Investing

Mutual and hedge funds offer multiple benefits, but the risk must be carefully assessed as well. Investors opt for hedge and mutual funds for many reasons, including higher returns. When choosing between different investment solutions, there are many factors to consider, including asset allocation, risk, and so on. Investors look at different factors such as […]

Continue reading →

Lending Criteria for Consolidation Loans

A secured loan is one option for borrowers, and they are usually offered a lower interest rate and a longer repayment term. Depending on the type of loan, some form of security or a co-signer may be required. Another option is to consolidate high interest credit cards to avoid interest charges. Financial institutions offer various […]

Continue reading →