The “Big Five” Canadian banks 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). Are there other viable options?
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The best GIC rates in Canada for 2024 May 28th
Investing
The best GIC rates in Canada for 2024
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Find the best rate
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What home buyers should know about the Canadian mortgage stress test Mar 26th
Canada’s mortgage stress test applies to anyone applying for or renewing a home loan through a federally regulated lender. But, if you’re like nearly half of Canadians polled by TD Bank in 2019, you may not understand what the test is—or who it affects.
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Canada’s best no foreign transaction fee credit cards 2022 Oct 8th
Canadians love to travel, but when shopping with their credit cards outside of Canada, many pay foreign transaction fees—as much as 2.5%—on every purchase. The good news is there’s a good selection of credit cards out there that either offer no foreign transaction fees or return more than enou.... More »
Canada’s best credit cards for grocery purchases 2022 Nov 17th
Everybody needs to put food on the table, so you might as well earn rewards while doing so. Considering that in 2022 the price of food in Canada has risen at the fastest pace in decades, with the annual rate of food inflation sitting above 10% in recent months, there’s no better time to earn usefu.... More »
How much are trading fees? Nov 25th
Individual stock trading has exploded during the pandemic with the rise of meme stocks, investing FOMO and free trading platforms. New investors poured money into stocks looking to make a quick buck, and in most cases the markets obliged.
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Prepaid Credit Cards vs. Prepaid Gift Cards
– ratesupermarket.ca
If you’ve ever had to shop for “that” person in your life — the one who already has everything — you know that gift cards can be a lifesaver. They’ve been around for almost 26 years, growing into an essential part of any retail business.
More recently, prepaid gift cards branded with payment networks have been gaining popularity. These cards feature major credit card issuers like Visa, Mastercard, and American Express. Without limiting the user to one shop, these cards can be used in-store, online, and almost anywhere credit cards are accepted.
Similarly, financial institutions have created the prepaid credit card, not to be confused with the above gift card option. These two types of cards have several similarities but differ in some fundamental ways. Here’s our take on which option should end up in your wallet.
What’s the Difference Between a Prepaid Credit Card and a Prepaid Gift Card?
To start, here are the types of cards typically offered:
Retail gift cards: These cards are offered through a single brand or chain—for example, your favourite store or restaurant…
