The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
Latest News
The best Air Miles credit cards in Canada for 2025 Feb 14th
Air Miles is very well known among Canadian points collectors. Although many would say Air Miles lost some of its lustre in recent years, BMO acquired and relaunched the program in 2024 with new partners and more ways to earn Miles. Let’s see how the three BMO credit cards available to everyday co.... More »
Earn up to 10,000 bonus Aeroplan points on Air Canada flights to Europe! + MORE Mar 8th
Air Canada has a new flight bonus offer for Aeroplan members travelling out of Canada or the U.S.. The bonus offers up to 10,000 bonus Aeroplan points on flights between Canada or the U.S. and select in Europe. As is standard with Aeroplan flight promotions, flights booked prior to the launch of t.... More »
Bacteria could survive a journey between the Earth and Mars, ISS study shows - CNET + MORE Aug 26th
Bacteria could survive a journey between the Earth and Mars, ISS study shows CNETCould life have started on Mars before coming to Earth? Possibly, new study suggests CBC.caBacteria from Earth can survive in space and could endure the trip to Mars, according to new study &n.... More »
Loyalty Lesson: Selecting the right Aeroplan flight award option to maximize the value of your points + MORE Nov 5th
Earlier this year I appeared on CBC’s Cost of Living program discussing the value of Aeroplan points after a listener reached out to them questioning what a point is worth. This has always been a topic worthy of discussion and one that is extremely subjective as the value of points, primarily .... More »
Earn up to 110,000 welcome bonus points on the American Express Gold & Platinum Cards + MORE Apr 22nd
For the past month American Express has had limited time increased welcome bonus offers on their consumer and business Gold and Platinum cards in place and we are coming down to those offers ending soon. These new offers are in place until May 11, 2022 and offer up to 110,000 welcome points. H.... More »
Frequently Asked Questions About RRSPs
– ratesupermarket.ca
A Registered Retirement Savings Plan (RRSP) is a useful financial tool to help Canadians save for their future. Many Canadians will open an account through their bank, a credit union, trust, insurance company, or may contribute to an RRSP through their employer and their chosen financial institution. Yet, there is still a lot of confusion around RRSPs and how they work. Some may even confuse their RRSP with a TFSA. Without a proper understanding of the financial products, account holders may lose out on the benefits they offer.
To clear things up, we’ve listed answers to fundamental RRSP questions so you can get the most out of your investment.
RRSP Questions
When can you start contributing to an RRSP?
Is there more than one type of RRSP?
What is an RRSP deduction limit?
What is the RRSP contribution room for 2020?
What if you over contribute to your RRSP?
Can you transfer your RRSP?
How do you make an RRSP withdrawal?
When Can You Start Contributing to an RRSP?
Canadians can start contributing to an RRSP as soon as they generate some contribution room…
