There are more credit card options in Canada than you can shake a stick at! Stay on top of the best rates and plans right here.
Latest News
'Joint and several liability' clause shares business debt risk + MORE Dec 30th
Small businesses have a hard time finding credit cards that don't require a personal guarantee. There are some that will allow you to share the liability with your company, but that has limits.... More »
RRSP vs. RESP: Which comes first? + MORE Feb 20th
“I’m investing in my retirement.”
Bruce Sellery, dad of one
I don’t want to be working at Starbucks when I’m 85 years old. When I retire, I want my days free to travel, gamble online and read the obituaries.
But that freedom in the future requires that I save today. If I couldn’t con.... More »
Wise card Canada review 2024 + MORE Apr 26th
The Wise card is a welcome addition to the services that Wise—formerly TransferWise—offers, but as you’ll quickly learn in this review, the card has a few quirks that will annoy users. That’s not to say that the Wise card is not worth having in your wallet when you travel abroad. You just ne.... More »
Tighter Lending Rules Mean Better Credit Card Options for Consumers + MORE Aug 27th
Consumers look to cash in over the next several months, as a softening housing market spurs banks to shift their focus to credit cards as a larger source of lender income.
Mortgage lending is traditionally the largest source of banks’ funding – and while it continues to be the main brea.... More »
Debt and divorce: 5 steps to make a clean credit split + MORE Jul 11th
Divorce can get ugly if one person doesn't follow debt repayment obligations spelled out in the divorce decree. Take these five steps to increase your chances of a smooth split.... More »
China Credit Bubble: A Global Economic Threat
– ratesupermarket.ca
Experts are warning of a credit crunch growing in China – and the economic consequences could be worse than the 2008 U.S. banking crisis. Economists are predicting China’s economy will crash hard by 2017. The country’s growth is slowing, there has been a slew of disappointing economy data, billions have been borrowed to build infrastructure and the global demand for made-in-China products declining. All of this is putting pressure on China’s economy and creating what some are calling the China credit bubble.
A Threat Of Global Proportions
China is the second biggest economy in the world after the U.S, and it’s growing twice as fast with more than three times the population. China is also the world biggest trading nation. For example in 2012 U.S. exports and imports of goods last year totalled $3.82 trillion, but in China they totalled $3.87 trillion, according to each of the countries’ government trade department.
Tightening The Credit Market
To counter the effects of tightening credit, China’s central bank, the People’s Bank of China has been injecting the equivalent of billions into its economy – $2…
Spotlight On Mortgages: August 2, 2013
– ratesupermarket.ca
Mortgage Defaults On The Decline: Genworth
Fewer Canadians are defaulting on their mortgage loans this year, according to the Q2 earnings report released by Genworth MI Canada this week. Genworth, a private mortgage insurer that provides default coverage for high-ratio borrowers (an alternative to coverage provided by the CMHC), reported that losses on default claims are $9 million lower than in Q1, and $13 million lower year over year.
The decline indicates that the number of high loan-to-value borrowers is dropping. While this is due in part to last summer’s CMHC rule changes squeezing some buyers out of the market, fewer defaults also suggest that Canadian credit situations are improving amid a strengthening economy.
The insurer also noted that business is booming with a net income of $88 million – a sign of a healing mortgages market.
“Our business continues to perform well,” stated Brian Hurley, Genworth chairman and chief executive officer, in a release. ”A balanced housing market, stable economic climate and strong portfolio quality have all contributed to the positive trends in our business, in particular our loss performance…
