Great news for Canadians
by Shaun Somers on Nov.09, 2009, under Uncategorized
It may soon be the case that we Canadians no longer need to have a credit card! Currently, Americans can do everything with a debit card that a credit card can do, but in Canada our Interac system didn’t work the same way. So if a Canadian wants to book a hotel or reserve a moving truck, we need a credit card (we don’t need to PAY by credit, just have it to make the reservation). Well it seems that some healthy competition is on the horizon. Visa and MC debit cards will soon be making their way to Canada. Interac doesn’t like this of course, and may try to stall or block it, but I’m certain it will happen soon. A little competition is great for the consumer of course, and I just got an email from an online retailer telling me I can use my regular Interac bank card to make online purchases! I look forward to the day I can finally cut up my last credit card for good!
