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CIBC will be the issuer of Costco credit cards

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CIBC will be the issuer of Costco credit cards

(Toronto) CIBC has signed an agreement to acquire retailer Costco’s credit card portfolio in Canada and become the exclusive issuer of Costco Mastercard cards in the country as part of a campaign to expand its credit card portfolio.

The bank did not disclose the deal’s financial details but said the portfolio included millions of credit cards with more than $3 billion in outstanding balances.

The deal will help CIBC expand its offering for cards that don’t offer travel rewards and should help attract Costco cardholders to other CIBC products, the group leader for cardholders said Thursday. Personal and commercial banking services, Laura Dottori-Attanasio, in a statement Thursday.

“This relationship allows us to diversify our portfolio of rewards credit cards on everyday purchases and carve out a better market share in the payments sector and deepen our relationships in concrete ways by meeting the financial needs of Costco members.”

“We are committed to providing them with an excellent customer experience and winning over their business more with our expert advice and best-in-class solutions to help them turn their ideas into reality. »

The Capital One card sound until the change

The bank says Capital One Costco Mastercard cardholders can continue to use their current card until they receive their new CIBC Costco Mastercard, which is expected to happen early next year. The bank said it would clarify the rewards associated with the new card in the coming months.

The new CIBC Costco Mastercard will offer rewards for purchases at more than 100 Costco warehouses in Canada and on the Costco.ca website. It will also act as a Costco membership card.

The deal adds a Mastercard offering to CIBC’s Visa card portfolio, including its Aventura and Aeroplan traveler rewards cards and its Dividend cash back card.

Speaking on an investor call last week, the bank’s chief executive, Victor Dodig, stressed the importance of having a balanced card portfolio.

“As the economy continues to return to normal, our goal is to ensure we have a strong presence in travel and non-travel cards to gain market share as consumer spending increases. »

Profitable for CIBC?

Scotiabank analyst Meny Grauman said that adding a portfolio of this size in a mature market was undoubtedly a positive for CIBC. However, questions remain about the deal’s profitability, given Costco’s reputation for negotiating hard.

“The real payoff here for CIBC will be the cross-selling opportunities to millions of affluent cardholders, only a small portion of whom are current CIBC customers. »

Grauman added that the deal would increase CIBC’s total card balances by approximately 30% to more than $13 billion, cementing its position as third in Canada for outstanding balances and purchase volumes.

Banks saw credit card transactions increase as spending increased, but card balances remained lower as more consumers paid off their balances.

Statistics Canada reported last week that Canadians paid off $16.6 billion in credit card debt in the first year of the pandemic, reducing the total outstanding balance to $74 billion in January 2021.

This 18.3% reduction marked a sharp reversal of the trend of the past 20 years, which saw credit card balances increase by an average of 20.7% per year to reach a peak of 90.6 billion in February 2020.

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Business and Real Estate

Top 5 Coins Worth Collecting and How To Tell Whether They Are Real Or Fake

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Coins Worth Collecting

Traveling through time, thousands of coins around the world have been minted. Some of these coins were stamped in thousands, while others were limited due to their uniqueness in design or event. Collectors of the globe are willing to pay millions to get a hold of one of these pieces. 

Gold and Silver proofs are some of the most famous precious metals used prior to the legislative ban on stamping rare metal coins. Numismatics worldwide look for authenticity and brilliance as some historical coins add value to their collection. 

The history they hold of being around in possession of a king or the pocket of a soldier in war makes them remarkable. Some of these precious coins are the property of Millionaires as collector coins in Canada, the U.S., China, or other leading countries. It all depends on the buyer’s preference and If they are willing to spend a whopping amount on these beauties. Some of the ultimate collector options with credibility are mentioned below

1 St. Gaudens Double Eagle 1933

This is one of the rarest coins highly sought out by Numismatics. The surprising aspect of this coin is that this was not rare in the initial phases of minting, and many pieces were struck. But many of these were melted after the legislation of not owning gold coins. 

The ones that survived hold high value because people think that this is one of the most beautiful coins ever made. This coin was sold privately in 2002 for a shocking $7.6 Million. Experts inquire about the credibility of this coin by gauging the luster.

 If the coin is too reddish, it might undoubtedly be chemically treated and thus fake. Another exceptional feature in the indentation of ‘In God We Trust ’ was not initially added by designer Augustus Saint Gaudens but was later modified. 

2 Flowing Hair Silver Dollar 1794

Sitting on the pedestal is the 1794 Flowing Silver Hair Dollar auctioned in 2013 for above $10 Million. Numismatics believe that this might be one of the first dollars ever coined. The Lady Liberty with flowing hair frontal is the prime feature of this magnificent coin. The back of the coin has an American Eagle embossed on it.

A small amount of these coins was struck in production, and fewer remained, which makes them extremely rare. The thickness comparison is a credible feature to look out for in this coin. It’s made of high-quality metal, so If you see a rusty version produced by the ‘wear technique’  used by scammers, it’s probably fake.

The lettering might also not be as clearly embossed in the counterfeit coins. 

3 D-3 Legged Buffalo Nickel 1937 

One of the coin collector’s favorites is the 1937 D-3 Legged Buffalo. This coin missed fame from the beginning. Once people noticed the missing leg of the Buffalo on the reverse side of the coin, It quickly became rare. Back in the day, due to the cost of coin minting, people used to extend the life of the dies by polishing them. 

Some coin maker mistakenly ground the surface of the die, which removed a leg of the buffalo. Because of this uniqueness, they hold extreme value. A counterfeit coin might have visible signs of the removal of one leg by the seller. You can clearly feel the indentation on the coin if the leg has been physically removed and polished. Avoid purchasing these fake coins. 

4 Brasher Doubloon 

One of the most expensive coins in the world is the Brasher Doubloon, crafted by Ephraim Brasher. It is well-known as the U.S.’s first gold coin ever made. A total of seven of these coins were ever struck, while only one of the coins has the creator’s initials embossed. 

The initials are embossed on the breast of the eagle on one side of the coin. The selling of this coin took place privately for a stunning $9.36 Million in 2021. The real Brasher Doubloon is made of 22k gold, while the fake ones might be made of copper. The stars on one side of the counterfeit coin are not pointed as the original die but just raised to look the same. 

5 Umayyad Gold Dinar 

The 1,300-year-old coin holds its value as one of Numismatic’s most sought-after coins worldwide by Numismatic. The Umayyad Gold dinar was first made in 723 AD in Damascus. Both sides have incredible inscriptions on them. It is one of the first coins to have a location inscribed. Only a dozen are still in existence, making them extremely rare and precious. In 2019, the selling of this coin was for £3.72 Million. 

The stunning gold color and the raised inscription are prime features to look out for when dealing with fake coins. The actual Umayyad Gold dinar weighs 4.24 grams. These coins are rare, and one of them is on display at the British Museum London as part of an essential Islamic History artifact of value.

Conclusion 

Coin collectors in all parts of the world are always searching for rare, historically important currencies. They not only add value to their collection but also symbolize the time the coin has been through. Some of these gold and silver-proof commemorative coins are worth Millions and are significant in possession of rulers and world leaders. 

Understanding the difference between legit and counterfeit coins requires skill and an understanding of their history, which Numismatists take on as their favorite task. Their rarity, quality of material, and condition over hundreds of years make them prized and ownership worthy.

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Business and Real Estate

Which field is best for business management?

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business management

Earning a business degree in any branch tends to be a worthwhile investment. Studying Business Management can be a great way to achieve financial freedom. However, a successful career in business requires hard work, consistency, and perseverance.

If truth be told, any degree you seek will require some investment. It can be measured in money, time, and energy. Every student expects each investment to be a payoff- increased earning potential, skills to climb the career ladder, economic stability, subject-specific knowledge, and increased marketability. 

A business management degree, in general, offers a wealth of benefits to succeed in the business domain. A business management degree is a better return on investment, ranging from increased marketability to improved self-esteem. In this blog, we will explore all fields in business management with the best potential return on investment.

7 best business management fields that can make you a fat cat

Based on findings, here are the top seven best-paying business management fields:

  1. Accounting

Accounting is one of the best-paying specializations in business management. To organize their finances, accountants are in high demand in all companies, from start-ups to conglomerates. Accountants earn big fat pay cheques to create financial reports, follow accounting practices, and conduct audits. According to payscale, the average salary for an accountant in Canada is CAD 53,327 per year. Best paying accounting jobs include Business Strategy Analyst, Finance Manager, and Marketing Director.

  1. Management

Managers are imperative to manage company teams and successfully run a business. Some managers look after finance operations, while others lead crucial teams. However, all the verticals in a company are managed by managers to deal with the complex challenges in the business domain. In a nutshell, business managers supervise and oversee business practices and operations to achieve efficiency. According to payscale, a business manager in Canada makes CAD 67,124 per year.

  1. Economics

Economists working in a corporate are directly involved in microeconomic issues. They research economic problems, collect data, analyze it using mathematical models, and forecast consumer demand. An economist is crucial for an organization, and they are well paid. The Indeed report suggests that an Economist earns about CAD 86,162 per year.

  1. Entrepreneurship

Professionals with an entrepreneurial mindset are in high demand in large companies. Companies are desperately looking for individuals who can contribute significantly to growing their businesses. In addition, studying entrepreneurship can provide skills and knowledge to start or grow a business as well. Indeed reports that the average salary for an entrepreneur in Canada is CAD 55,720 per year.

  1. Supply chain management

This field of business management studies economics, logistics, and finance. Supply chain managers manage logistics and overcome challenges with their problem-solving abilities. They also perform data analytics and inventory management. According to payscale, a supply chain manager in Canada makes CAD 80,652 per year.

That’s not all. A career in Human Resources management and marketing are also among those business management fields that have the potential to make you rich. So, apply for a business management course in Canada now!

This article is written by Monika Sinha.

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Business and Real Estate

How To Choose The Right Commercial Contractor For Your Project?

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Commercial Contractor

Choosing the right contractor for any building project is certainly going to be key to the success of the project itself. After all, the main contractor could very well be involved in every single detail of the project. With that in mind, we can’t really overstate the importance of finding the right Calgary commercial renovation contractors for your particular project. What should you be looking for though, when you’re out searching for that right contractor? The easiest thing to point out, yet potentially the hardest thing to find is a contractor that you know you can trust. If this person or company is going to be involved in every aspect of the project trust is key. How can you build that trust or reach a certain comfort level with a group of people that you potentially just met? 

The way that we see it, the contractor’s reputation has to speak for itself. This can make it hard for new companies to break into the market because as an investor what you probably want is someone with a proven track record. Staying on that subject of the proven track record another key to picking the right general contractor, commercial renovation oriented, is making sure they have experience in your niche. The term commercial building encapsulates so many different things. Yet, working on building a new hospital wing is not necessarily similar to setting up a restaurant. Making sure that the contractor you hire has experience with a similar project is another box that you potentially want to check.

The Price Tags Are All Over The Place

One of the things that you’re potentially going to find in your search for a contractor is that the price tags for the services of these contractors can be all over the place. Some of the more established companies in the region are going to have a high fee that you need to cover, and they won’t budge off that. On the other hand, up-and-coming contractors may be more willing to give you a bargain deal. More expensive work is not necessarily better work, but these companies are able to bring a higher level of experience to the table. This is in many ways what we’ve mentioned as the key to finding that right contractor. Finding the perfect balance between experience and a decent price with a sense of trust between both sides is pretty much all that you can ask for.

Make Of List Of The Things That Are Important To You

Should the company that you hire have experience with similar projects? That’s probably a must for sure! Is there a price tag that you don’t want to go over? What are other specific needs you have? If you make a list of the things that you want and you can cross reference that with what you’re being offered by the options that you look into you can make the selection process much smoother. Even if there is no perfect way to be able to find the right commercial contractor.

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