Learn more about Canada’s top banks rates, rules and the latest news – read on!
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The best GIC rates in Canada for 2024 Jun 19th
Investing
The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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MoneySense is an award-winning magazine,.... More »
Als dominant in win over Ticats; move to 2-0 - CFL.ca + MORE Jun 24th
Als dominant in win over Ticats; move to 2-0 CFL.caAlouettes streamroll winless Tiger-Cats in home opener TSN'Everyone knows where I want to be': receiver Brandon Banks 'open' to return to Hamilton Tiger-Cats 3downnation.comHamilton face boos as Alouettes win Tiger-C.... More »
Monthly fee for identity theft protection? Not worth it + MORE Oct 5th
Canadians rattled by the massive Equifax data breach may turn to credit monitoring and anti-identify theft services for peace of mind, but in most cases they’ll be paying more for what is presently available for little or no cost, according to experts.
Consumers can already contact the two mai.... More »
Do you invest too much in Canada? Nov 11th
Canada is the second-largest country in the world. But is there such a thing as too much Canada?
Too much natural beauty, no. Too much poutine, never. Too much snow, yep. Too much Justin Bieber, yes. And too much held in Canadian stocks? Definitely yes.
The Canadian stock market represents l.... More »
Not sure about DeFi? Here’s how Coinchange is making crypto investments safe and easy Sep 23rd
As of September 2021, there is more than US$115 billion worth of assets in the Decentralized finance crypto market.
Decentralized finance, or DeFi, provides an alternative to traditional banks. Instead of having a third party in a financial transaction—a role banks traditionally played—there .... More »
Should You Accept That Pre-Approved Credit Limit Increase?
– ratesupermarket.ca
If you faithfully pay your loans, mortgage and credit cards each month, then you’ve probably received a call or letter from your bank with the news that you were pre-approved for a credit increase or a line of credit.
You might be thinking, I don’t even use all the credit I currently have. I don’t need an increase.
But guess what? Turning down a pre-approved credit increase may actually hurt your credit score.
Why you were offered an increase
If you already have an account with a bank, and it pre-approves you for a credit increase or new line of credit, it’s typically because you are being recognized for being a good customer. By diligently paying off your card every month and staying on top of your current loans, your bank now trusts that you will pay them back if they increased your limit.
Exclusive offer from RateSupermarket.ca: For a limited time, apply for a President’s Choice Financial® Mastercard® through RateSupermarket.ca and get a $150 e-gift card & up to 20,000 PC® points when you activate your card…
Credit unions decry federal regulatory ban on members using ‘banking’ terms
– canadianbusiness.com
The national group representing credit unions says its members are being treated unfairly by a federal regulator that is prohibiting them from using the terms “bank,” “banker” and “banking” to describe their services.
The Canadian Credit Union Association says the ban on the terminology makes it difficult for credit unions to compete fairly with banks.
The directive was contained in an advisory issued last Friday by the Office of the Superintendent of Financial Institutions (OSFI).
The association says it has interpreted the advisory to mean that any member who continues to use these terms can face criminal charges.
The group also notes that due to the changes, credit unions will have to remove any banking references from their advertising materials and their websites _ a move it called an “unnecessary and expensive undertaking.”
OSFI says it issued the advisory to provide clarity after observing increased use of the words “bank,” “banker” and “banking” by financial service providers that aren’t banks…
The Canadian Credit Union Association says the ban on the terminology makes it difficult for credit unions to compete fairly with banks.
The directive was contained in an advisory issued last Friday by the Office of the Superintendent of Financial Institutions (OSFI).
The association says it has interpreted the advisory to mean that any member who continues to use these terms can face criminal charges.
The group also notes that due to the changes, credit unions will have to remove any banking references from their advertising materials and their websites _ a move it called an “unnecessary and expensive undertaking.”
OSFI says it issued the advisory to provide clarity after observing increased use of the words “bank,” “banker” and “banking” by financial service providers that aren’t banks…
