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Majority of Canadians "Weigh In" On Their Preference To Follow a Budget Rather Than a Diet In 2008
Capital One offers Prime +0.9% MasterCard to help Canadians "Lose the Rate".
Toronto, ON (January 28, 2008) – A new survey released by Capital One Canada reveals that 41 percent of Canadians are staying away from making New Year's resolutions altogether, but if they had to choose, almost three-quarters (74 percent) would rather follow a budget than a diet. Of those that have made resolutions, long-term fitness – both financial and physical – appears to be the goal. Almost one in five (19 percent) Canadians say they have resolved to get physically fit, while 11 percent resolve to get in shape financially.
The survey also shows that many Canadians are on the right track to financial fitness. More than two thirds (71 percent) of those questioned say they either stuck to their budget for holiday shopping or came in under. However, the survey also revealed that one quarter (25 percent) of Canadians do not know the interest rate on their primary credit card and the majority of Canadians (58 percent) do not know that there are many low-interest options available in the marketplace.
"It's wonderful that Canadians are planning to take an active role in securing their financial future in 2008," says Pam Girardo of Capital One Canada. "January is the perfect time to set financial goals for the coming year and to make a plan to help you get there. We are pleased to offer consumers the Prime +0.9% Platinum MasterCard, with no annual fee or balance transfer fee, to help Canadians achieve their New Year financial goals."
To celebrate its Prime +0.9% MasterCard, Capital One has launched a "Lose the Rate" promotion, playing off the weight loss resolutions that are prominent at this time of year. A Capital One "Lose the Rate" Running Team will be hitting the streets of Vancouver over the next few weeks to pass out healthy snacks and remind Vancouverites that interest rates can be an important factor in getting financially fit. Capital One also launched an online "Win your Balance Transfer" contest for a chance to win up to $10,000. More information about the contest can be found at losetherate.ca .
The Prime +0.9% card, currently Canada's lowest long-term rate on purchases and balance transfers, eliminates the hassle for consumers who are tired of continually checking credit card rates – and often switching cards – to ensure that their interest rate remains competitive. The card's interest rate equals 0.9 plus the prime lending rate.
Features of the Prime +0.9% Platinum Mastercard include:
- Long-term interest rate equal to the Canadian prime rate +0.9% on purchases and balance transfers
- No annual fee
- No balance transfer fee
- $0 fraud liability for fraudulent or unauthorized charges
- Ability to choose your own payment date
For more information on Capital One cards and services, and tips on how to manage credit effectively, please visit Capital One's web site at www.capitalone.ca.
The Ipsos Reid survey was conducted from January 8th to 10th, 2008. For the survey, a representative randomly selected sample of 1,000 adult Canadians was interviewed by telephone. Margin of error is ±3.02 percent.
About Capital One
Located in Toronto, Ontario, Capital One has offered Canadian consumers a range of competitive MasterCard® credit cards since 1996, when the company first introduced the Platinum MasterCard® in Canada. Capital One Canada is a division of Capital One Bank, a subsidiary of Capital One Financial Corporation of McLean, Virginia (NYSE: COF).
Pam Girardo, Capital One