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Latest News
CIBC AC Conversion Visa - Load up to 10 currencies and earn 1% cash back until April 30 Jan 30th
The limited time 1% cash back earning on CIBC's AC Conversion Visa has been extended to the end of April 2022. This card is a prepaid Visa credit card option offered by CIBC and Air Canada that has been around now for quite a few years and is somewhat unique in that you can load multip.... More »
The Best Cash Back Credit Card Welcome Bonus Offers for February 2024 Feb 4th
Here are Rewards Canada’s Top 5 Cash Back Credit Card Sign Up offers for the month of February. This is not a ‘best’ credit card list like our recently released Top Cash Back Credit Card rankings but instead a look at cards that have very good cash back welcome bonus sign up offers. This list .... More »
We get TD to reverse insurance denial: Roseman + MORE Dec 12th
Many people buy credit card insurance, hoping it will pay their bills if they're unemployed. But that isn’t always the case..... More »
July 29 Update: Earn 5x miles at select retailers via the Aeroplan eStore, Autograph Collection Hotel coming to Halifax and W Toronto opening delayed to 2021 + MORE Jul 30th
You can earn 5x Aeroplan Miles when you shop online via the Aeroplan eStore for back to school. The extra miles are at select retailers like Gap, Indigo, New Balance and more. The bonus miles event runs until August 9. Find out more here.Image via Aeroplan Marriott will be opening up an Autograph.... More »
News and entertainment website Canoe.ca says data for one million users hacked + MORE Sep 13th
MONTREAL _ News and entertainment website Canoe.ca says some of its databases containing the personal information of about one million users from 1996 to 2008 has been hacked.
The company says the databases breached contained records including names, email addresses, mailing addresses and telephone .... More »
Jan 7 Update: Interview request on award ticket fuel surcharges, American & US Airways reciprocity starts today, Club Carlson car rental bonuses
– RewardsCanada.ca
Here is what Tuesday brings forth in the travel rewards world:News, Tips & TricksWe have been contacted to see if any of our readers are willing to share a story(ies) about wanting to redeem miles for International flights where the redemption was awash with just buying the ticket outright because of the fuel surcharges/fees tacked onto the award ticket. If you are interested in being interviewed please send me an email at info@rewardscanada.caAmerican and US Airways officially started their frequent flyer reciprocity today. This means AAdvantage members can now earn and redeem AAdvantage miles for US Airways flights and Dividend Miles can do the same for American Airlines flights. More details can be found here. Bonus Offers Air Canada Aeroplan- Earn 3,000 Bonus Aeroplan Miles on Air Canada rouge flights between Toronto and Las Vegas. More… Register and book by Jan 31 for travel Feb 1- 28, 14British Airways Executive Club- Earn up to 25,000 Bonus Avios when you fly on American Airlines between New York and Milan…Contribute to RRSP or Pay Down Mortgage?
– canadianfinanceblog.com
This might be the most asked personal finance question in Canada: Should you contribute to an RRSP or pay down your mortgage? Most people would lean towards putting money into an RRSP because of the tax credit and the possibility of a higher return.However, when considering the tax benefits of the RRSP option, some people don’t realize the tax savings related to reducing their mortgage principle.
RRSP Contributions vs. Mortgage Pay Down
First of all, it’s important to understand the tax implications of your decision. There are some advantages to each course of action, so you will have to weigh the situation according to your own situation and what is likely to work for you.
Your mortgage payments are made with after-tax dollars. When you pay down your mortgage, you not only save the interest, but also the taxes on that interest as well. Many people forget that the interest you pay on your mortgage is taxable as well. So, when you pay down your mortgage, you are reducing the amount of money you spend on taxes…
Ontarians Are Choosing Debt Over Retirement Savings
– ratesupermarket.ca
Should I pay off my debts or save for retirement? It’s a dilemma faced by many Canadians, and in Ontario, debt repayment is winning the battle. Forty per cent of Ontarians say paying off debt is their top financial priority, with 19 per cent prioritizing their mortgages, according to a study by Meridian Credit Union. Even more worrisome is the fact that 10 per cent listed stop living paycheque-to-paycheque as their top financial priority.
Retirement Savings Taking a Back Seat
We all know we need to save for retirement, but knowing and putting those plans into action are two separate things. Twenty one per cent of Ontarians haven’t even started building their nest egg! So what’s their reason for putting retirement savings on hold? Fifty two per cent said they were focused on paying off debt, 51 per cent said they couldn’t afford it, and 49 per cent said saving for retirement is not a priority for them at the moment.
“As household debt in Canada hits a new high, it’s encouraging to see Ontarians recognizing how important debt repayment is to their financial future,” says Bill Maurin, Meridian’s acting chief executive officer and chief financial officer…
