How travellers maximise rewards card deals
Canadians can repack their beach bags for a soggy spring tour of London, if a great deal is on the table. Travellers aren't as concerned about where they are going, what time of year it is or how they are getting there if it means saving money.
According to a recent TD Canada Trust Poll, 99 per cent of Canadians look for a deal when they are booking their vacation.
Travellers love to stretch their dollars with not only travel deals, but also by cashing in points for travel packages. Special rewards credit cards can be used for everyday purchases to collect points faster, which in turn can be cashed in for a flight, hotel or a travel package.
Sixty-seven per cent of travelling cardholders consciously collect extra travel rewards in advance of booking a trip. This means using the same card for collecting travel rewards for each and every purchase to reach a points goal.
Forty per cent of collectors have used or redeemed their rewards points for travel over the past year. Twenty-three per cent have felt that their travel rewards helped them to afford their trip. One in five (19 per cent) say the reason they took advantage of the travel points was because of the lagging economy.
According to the poll:
* 23 percent of Canadians said they would not travel if they were not able to get the deal they wanted. They would prefer to stay at home rather than paying full price.
* 60 per cent of travellers would consider changing the dates of their vacation if they could save on travel.
* 42 per cent would even consider changing their vacation destination to get a better deal.
* 62 per cent of Canadians are willing to plan far enough in advance to save money on early booking discounts.
* 55 per cent of travellers will avoid peak travel seasons when prices are overinflated due to demand.
* 54 per cent of Canadians will search for the best package deal before booking a trip, and 35 per cent of them will wait until the last minute to get vacation sell-off deals.
Season, mode of transportation and travel destination can all be switched as quickly as it takes to repack the swimsuit for a brolly in order for Canadians to maximize their spending power.
Written by Melanie Dixon.
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7.21.2010
More airlines moving from cash to plastic
More airlines moving from cash to plastic
The next time you wish to purchase a cocktail, earphones, a pillow or a blanket on an Air Canada flight, be prepared to pull out your plastic. As of May 1, Canada's largest carrier no longer accepts cash for on-board purchases. Following in the heels of American Airlines, which went cashless in February, duty-free items, food and alcoholic drinks now require a credit card.
Air Canada's plastic-only policy is intended to create greater convenience for passengers, particularly non-North Americans, many of whom don't wish to carry Canadian or U.S. currency for the sake of purchasing an in-flight pillow. What's more, by charging items to a credit card, Air Canada maintains that flight attendants won't have to struggle to make change, resulting in faster service. Not to mention a clearer pathway to the lavatory.
But jetsetters, beware. According to Chad Viminitz, a financial behaviour coach with RTR Advisory in Edmonton and author, no longer accepting cash for purchases "is usually not a benefit to the consumer. You've eliminated a very solid financial decision for the consumer to pay cash. You've taken that away from them."
The problem, continues Viminitz, is that "credit card companies know that you'll spend on average about 23 percent more than you will with cash. So at the end of the day, credit cards aren't necessarily more convenient when you're spending more than you expected."
But that's not the only risk of creating a cashless society in the sky. Identity theft strikes countless travelers year after year. "It's not people getting robbed for a couple hundred dollars while you're walking through the airport," says Viminitz. "It's about someone from another country stealing your information and now your credit card information is disseminated around the world." For this reason, Viminitz recommends notifying your credit card company of any travel plans so that atypical purchasing patterns can be flagged for further investigation. As for in-flight purchases, Air Canada stresses that all credit card payments are recorded using secure encrypted handheld devices.
Currently, the maximum credit card purchase allowed onboard Air Canada is $500. Only Visa, MasterCard, American Express, Diners Club and Japanese Credit Bureau cards will be accepted for duty-free purchases. If you don't have a credit card or your child age 12 to 17 is flying as an unaccompanied minor, you can pre-purchase onboard amenities online up to an hour before your flight. A code proving the purchase will appear on your boarding pass.
Published: May 19, 2010
The next time you wish to purchase a cocktail, earphones, a pillow or a blanket on an Air Canada flight, be prepared to pull out your plastic. As of May 1, Canada's largest carrier no longer accepts cash for on-board purchases. Following in the heels of American Airlines, which went cashless in February, duty-free items, food and alcoholic drinks now require a credit card.
Air Canada's plastic-only policy is intended to create greater convenience for passengers, particularly non-North Americans, many of whom don't wish to carry Canadian or U.S. currency for the sake of purchasing an in-flight pillow. What's more, by charging items to a credit card, Air Canada maintains that flight attendants won't have to struggle to make change, resulting in faster service. Not to mention a clearer pathway to the lavatory.
But jetsetters, beware. According to Chad Viminitz, a financial behaviour coach with RTR Advisory in Edmonton and author, no longer accepting cash for purchases "is usually not a benefit to the consumer. You've eliminated a very solid financial decision for the consumer to pay cash. You've taken that away from them."
The problem, continues Viminitz, is that "credit card companies know that you'll spend on average about 23 percent more than you will with cash. So at the end of the day, credit cards aren't necessarily more convenient when you're spending more than you expected."
But that's not the only risk of creating a cashless society in the sky. Identity theft strikes countless travelers year after year. "It's not people getting robbed for a couple hundred dollars while you're walking through the airport," says Viminitz. "It's about someone from another country stealing your information and now your credit card information is disseminated around the world." For this reason, Viminitz recommends notifying your credit card company of any travel plans so that atypical purchasing patterns can be flagged for further investigation. As for in-flight purchases, Air Canada stresses that all credit card payments are recorded using secure encrypted handheld devices.
Currently, the maximum credit card purchase allowed onboard Air Canada is $500. Only Visa, MasterCard, American Express, Diners Club and Japanese Credit Bureau cards will be accepted for duty-free purchases. If you don't have a credit card or your child age 12 to 17 is flying as an unaccompanied minor, you can pre-purchase onboard amenities online up to an hour before your flight. A code proving the purchase will appear on your boarding pass.
Published: May 19, 2010
Total Debt Service Ratio Formula
Total Debt Service Ratio Formula:
PITH1+ Other Debt / Borrower’s Gross Annual Income2
1PITH means principal, interest, property taxes and heat costs plus 50% of the condominium fees. For
chattel or leasehold loans, include 100% of site or ground rents.
250% of subject property gross rental income can be included. T+H for the property generating rental
income can be excluded. Visit www.cmhc.ca and search key words “TDS formula” for more information.
Flexibility provided for borrowers who have a strong history of managing credit. Total Debt
Service Ratio 42.01- 44%: Recommended minimum score of 680.
PITH1+ Other Debt / Borrower’s Gross Annual Income2
1PITH means principal, interest, property taxes and heat costs plus 50% of the condominium fees. For
chattel or leasehold loans, include 100% of site or ground rents.
250% of subject property gross rental income can be included. T+H for the property generating rental
income can be excluded. Visit www.cmhc.ca and search key words “TDS formula” for more information.
Flexibility provided for borrowers who have a strong history of managing credit. Total Debt
Service Ratio 42.01- 44%: Recommended minimum score of 680.
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