How to go about securing the best rate and plan for your credit card in Canada.
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Scientists discover new species of feather stars with 20 'arms' - Business Insider + MORE Aug 12th
Scientists discover new species of feather stars with 20 'arms' Business InsiderMysterious creature with 20 arms discovered in Antarctica, pic surfaces InshortsStrawberry feather star discovered in Antarctica, researchers say USA TODAYScientists Discover 20-Arm 'Anta.... More »
Book travel through your card's portal: 5 times it makes sense Dec 1st
Booking directly through your credit card's travel portal may be your best option when you're looking to redeem points in certain situations..... More »
Desjardins instituting credit card spending caps and are shifting some merchants out of accelerated earn categories Oct 27th
As reported by Milesopedia there are some negative changes coming to the Desjardins BONUS DOLLARS program. As of January 1, 2024 they will be putting annual spending caps in place for select accelerated earn rate categories on all of their rewards card offerings. Some of the cards accelerated catego.... More »
The Best Secured Credit Cards of 2018 + MORE Jun 25th
A secured credit card is one that might require that you provide funds to guarantee the loan. Remember, a credit card is a loan, and if you have no credit, or bad credit, issuers might be reluctant to issue you a card. This is where a secured credit card comes in.
If you are willing to provide a sec.... More »
Marriott's largest Cyber Sale ever - Save up to 25% at over 5,000 hotels in the Americas (233 in Canada) + MORE Nov 25th
Marriott is offering its largest Cyber sale ever which begins today Tuesday, November 24. Marriott Bonvoy™ Escapes seven-day sale is being offered for the first time at more than 5,000 hotels throughout the US, Canada, the Caribbean and Latin America. Marriott Bonvoy members will save 25% an.... More »
Should You Share Your Credit Card?
– ratesupermarket.ca
A credit card can be a powerful financial tool when used responsibly, and can also help build your credit score. But what if you don’t have sufficient credit yet, or have damaged it in the past, and can’t qualify for a credit card?
Fortunately, there are options available for those who can’t get a credit card on their own.
Co-Signed Credit Cards
Similar to a mortgage, some lenders will let an applicant use a co-signer in order to qualify for the card. The co-signer, who typically has good credit, is equally responsible for any debt owed to the card, and their credit score is also on the hook. Co-signed credit cards are slightly different than supplementary cards, which just allow you to access the credit of another cardholder (usually a parent and teen), and can be a good way for those with limited credit (typically students and newcomers to Canada) or damaged credit to get credit cards.
However, co-signed credit cards can be a deterrent for those trying to build their own credit scores; because the loan is based on their co-signer’s credit, they aren’t actually improving their own score through use of the card…
Credit vs. Debit: Know the Differences
– ratesupermarket.ca
By: Barry Choi
We all carry credit and debit cards in our wallets, but when it comes time to pay, which one you reach for for can leave an impact in a few different ways. Which option you choose is ultimately up to you, but it’s important to understand what goes on behind the scenes since debit and credit cards are very different.
The Applicable Fees
Debit cards will always have fewer fees since you’re only spending the money you have available, whereas with credit cards you could be hit with annual fees, interest charges, and other fees and penalties.
It should also be noted that merchants are only charged a low flat-fee rate when customers choose to use Interac Debit. But when credit is chosen as the method of payment, merchants pay 1.5 – 3 per cent of the total price. These fees add up over time, so if you choose debit over credit, you’re helping businesses with their bottom line.
One is More Rewarding Than the Other
The major draw of credit cards is the rewards that they offer…
How to invest conservatively without bank GICs
– moneysense.ca
Q: We are maxed out on our RRSPs and TFSAs and our remaining funds are in joint GICs (Guaranteed Investment Certificates). Due to our age, we are risk adverse and like to maintain GICs. However, the bank rates for GICs are relatively low and more importantly, the banks are covered under the Canadian Deposit Insurance Corporation (CDIC) for only $100,000.This means that we have to spread our funds over various institutions – and this is becoming cumbersome.
We recently heard about credit unions covered by the Deposit Guarantee of Manitoba. Their GICs rates are more appealing and their limits are unlimited.
1. How safe or risky are the credit unions covered by the Deposit Guarantee of Manitoba?
2. Are there any other avenues to take?
3. Typically, what do corporations, business and/or private people do with their money if they have large sums of money to invest (more than $100,000)?
–Jack
A: Yours is a good problem to have, Jack. Although having too much money is better than the alternative, it never ceases to amaze me how the wealthy worry about money too – just in a different kind of way…
December 1 Update: Winner of $100 Gas Card, BMO AIR MILES bonuses extended, Flying Blue Promo Awards
– RewardsCanada.ca
Welcome to our first update of December! News, Tips & Tricks Congrats to Ian B who is the winner in our $100 Gas Card giveaway for the Scotiabank GM Visa card contest from October! Yesterday we mentioned that the 800 Bonus AIR MILES offer for the no fee BMO AIR MILES MasterCard was to end but great news the offer has been extended to January 3rd! Same goes for the 3,000 Bonus Miles for the BMO AIR MILES World Elite MasterCard Posts since our last update: Hilton 72 Hour Sale – Save up to 30% in the US, Canada or Latin America Hilton has launched a great new sale for stays in the Americas…Club Carlson Cybertastic Tuesday – 20,000 Bonus Gold Points for 2 night Radisson stay in Canada (and the Americas) Yesterday Club Carlson launched a week long promotion called Cybertastic with a different deal every day. Today’s offer is…Air France KLM Flying Blue Promo Awards – Save 25% on Business Class award tickets out of Montreal & Vancouver The newest set of Air France KLM’s Promo Awards are now out and this month there are extra offers… Bonus Offers Air France KLM Flying Blue- December Promo Awards – Save 25% to 50% on the Award Miles usually required for an award ticket…
