Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Rising credit to GDP gap signals banking system ‘vulnerability,’ warns report Sep 19th
A new international banking report groups Canada with China and the special administrative region of Hong Kong as jurisdictions whose domestic banking systems are at risk from rising debt levels.
The Bank For International Settlements, which is owned by the world’s central banks, says there ar.... More »
At the open: TSX turns negative as energy, banks drive weakness Sep 15th
Dow at record; stocks unmoved by tepid economic data
.... More »
Canadians’ Spending Habits and Payment Preferences are Changing Jun 17th
According to a recent study by Payments Canada, the COVID-19 pandemic is changing Canadians’ spending habits. The study found that 62% of Canadians are using less cash, and 42% avoid shopping at places that don’t accept contactless payments altogether.
Moreover, 53% of consumers reported using .... More »
Canada’s best student credit cards for 2022 Aug 22nd
Researching credit cards between classes? While a grade on a paper maybe its only reward, having the right credit card can mean the difference between a free tank of gas or dinner out at the end of the semester–all while you’re building a credit history. By the time you graduate and get that fir.... More »
Cardholders Increasingly Frustrated By Aeroplan Rewards Shortage Apr 6th
A travel rewards credit card seems like a no-brainer. If you’re going to pay for things with credit anyway, why not build up points towards free travel? But as one of the country’s most-popular rewards programs, Aeroplan, surpasses 5 million cardholders, users are starting to feel some growing .... More »
Spotlight On Mortgages: August 9, 2013
– ratesupermarket.ca
ATB Bucks Posted Rate Trend
ATB, Alberta’s largest lender, became a trailblazer this week by announcing the end of their posted mortgage rate practices. Their actions signal a renewed focus on customer awareness and mortgage guidance for the 75-year-old financial institution, and is being lauded by brokers as a step toward much-needed clarification for mortgage rate approvals.
Posted mortgage rates – the ‘as advertised’ option posted on the windows, if you will – are the banks’ best kept secret. Pumped artificially higher than the going market rate, lenders are often willing to offer consumers a lower option for mortgages – if they know enough to haggle. The idea behind posted rates is that they give the banks wiggle room to reward savvy or loyal customers with what appears to be a discounted preferred rate.
More Proof It Pays To Compare
However, the need for negotiation is lost on many consumers; not everyone is comfortable questioning their bank’s practices while others simply aren’t aware of these bait and switch tactics…
How Much Do You Need To Retire? The 4% Rule
– canadianfinanceblog.com
How much do you need to retire? This is a thorny question that comes up regularly. Many consumers are unsure how much money they will need. The goal of retirement savings is trying to figure out how much of a nest egg you need to build up so that when you start living off your accumulated wealth, you have enough that you will outlive your money.In order to figure out how much you need to retire, many banks, especially around RRSP season, will try to convince you to save as much as possible. They use scare tactics meant to convince you that you will never retire unless you save as much as possible. However, you don’t have to listen to the banks when trying to figure out how much money you need to retire. One simple way to decide for yourself what you’ll truly need to retire is the 4% rule.
What is the 4% Rule?
The 4% rule states that you can withdraw 4% of your investment portfolio in the first year, then adjust for inflation each year after that and not run out of money for 25-30 years…
Spotlight On Mortgages: August 9, 2013
– ratesupermarket.ca
ATB Bucks Posted Rate Trend
ATB, Alberta’s largest lender, became a trailblazer this week by announcing the end of their posted mortgage rate practices. Their actions signal a renewed focus on customer awareness and mortgage guidance for the 75-year-old financial institution, and is being lauded by brokers as a step toward much-needed clarification for mortgage rate approvals.
Posted mortgage rates – the ‘as advertised’ option posted on the windows, if you will – are the banks’ best kept secret. Pumped artificially higher than the going market rate, lenders are often willing to offer consumers a lower option for mortgages – if they know enough to haggle. The idea behind posted rates is that they give the banks wiggle room to reward savvy or loyal customers with what appears to be a discounted preferred rate.
More Proof It Pays To Compare
However, the need for negotiation is lost on many consumers; not everyone is comfortable questioning their bank’s practices while others simply aren’t aware of these bait and switch tactics…
