Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
The best GIC rates in Canada for 2024 + MORE Oct 8th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigat.... More »
What Happens to Your Points When You Cancel a Rewards Credit Card? Mar 21st
The moment you redeem your credit card rewards can feel exhilarating. Maybe you’ve treated yourself to new merchandise, event tickets, or a free flight. But, when it is time to upgrade your credit card or cancel it altogether, the outcome may not be so joyous.
Depending on the type of rewards car.... More »
Best FHSAs in Canada: Where to get the first home savings account + MORE May 2nd
Canadians can now boost their savings for a down payment on a home with a first home savings account (FHSA). The account, also referred to as the tax-free first home savings account, creates up to $40,000 in tax-free savings room for first-time home buyers. To date, more than 300,000 Canadians have .... More »
The best GIC rates in Canada for 2025 Mar 3rd
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigat.... More »
How Can You Get a Credit Card if You Have No Credit History?
– ratesupermarket.ca
Young Gen Z Canadians, ages 20 to 24, are leading the country in credit adoption, but many of them are experiencing barriers to getting credit cards, primarily because they have no credit history. Newcomers to Canada also lack Canadian credit history. What should young Canadians or recent immigrants do if they want to start using credit cards and have no credit history?
What do lenders mean when they say you have insufficient credit history?
Having no credit history doesn’t mean a low or zero credit score. Canada’s two credit bureaus, TransUnion Canada and Equifax Canada, keep records of credit use and assign credit scores ranging from 300 to 900. When you start using credit, your score will likely be in the mid-range of these numbers.
Insufficient credit history means you haven’t used credit enough for lenders to determine how likely you will be to pay your bills on time. Among people who’ve been using credit long enough to gain an account history, the longer accounts have been open, the less risk lenders perceive…
