Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Making sense of the markets this week: April 2, 2023 Mar 31st
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Freeland fires again at Canadian Banks
There are several big-picture looks at the important aspects of the Canadian federal budget .... More »
The best travel credit cards in Canada for 2023 Nov 24th
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The best travel credit cards in Canada for 2023
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Even Deutsche Bank is getting out of Russia - CNN + MORE Mar 12th
Even Deutsche Bank is getting out of Russia CNNDeutsche Bank faces criticism for remaining in Russia as others cut off links The Globe and MailDeutsche Bank refuses to pull all its Russia business CNBC TelevisionAll the Ways Banks Can Get Hit by Putin's War &nbs.... More »
Making sense of the markets this week: October 22, 2023 Oct 21st
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Big wins for big U.S. banks
If you’ve been betting against American consumers over the last few years, then you havenâ.... More »
Will GIC rates keep going up in 2024? Dec 23rd
As Canadians are painfully aware, Canada’s inflation has stubbornly persisted above the Bank of Canada’s (BoC) target rate of 2%. In response, the BoC has repeatedly raised the benchmark interest rate—which sets the pace for banks’ prime rates—since early 2022. While no one can predict wit.... More »
Busting 7 Myths About Your Credit Score
– ratesupermarket.ca
Your credit score can affect your ability to get a credit card, personal loan, or low-interest mortgage. Everyone knows you should pay your bills on time to keep your credit score healthy. However, some aspects of credit scores can be confusing. Here, we’re busting seven common myths about your credit score.
1. Having a Good Job Boosts Your Credit Score
Common factors determining your credit score include credit usage, balances due, and length of credit history. Your occupation and income, however, don’t affect your credit score. While having steady income always looks good when meeting with a lender, it won’t change your credit score, which focuses on credit behaviour, not earning potential.
2. Spouses Have the Same Credit Score
Your credit score is in your name only—you don’t share a credit score with your spouse, children, or other family members. If a debt is in your name and you fail to pay on time, your credit score will be the one affected.
3. Each Person Has Only One Credit Score
TransUnion and Equifax are two trusted credit bureaus in Canada…