The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
For a limited time, American Express is offering consumer cardmembers more value for Points for Purchases. From April 17, until September 30, 2020, cardholders can use 1,000 points for a $10 statement credit on all eligible non-travel related purchases. That means Membership Rewards points are curr.... More »
Canadians are using social distancing to prevent the spread of COVID-19. As a result, banks have closed their doors or reduced their hours of operation. Many Canadians are turning to technology to manage their finances instead. Naturally, this has caused a spike in the use of online and mobile bank.... More »
Credit card fraud comes in various forms and can cause a lot of damage to both your balance and your credit score. Often thieves only get away with a few hundred dollars, but sometimes they can manage to steal thousands. And when they do, it can take hours of hard work and communication to unravel .... More »
Your credit report summarizes your credit history and helps lenders weigh your credit risk. Often your credit report is initiated when you apply for your first credit card. Over time it can help you reach your larger financial goals such as obtaining a rental agreement or mortgage. When you apply f.... More »
Even before COVID-19 began to dominate the collective consciousness, the possibility of negative interest rates garnered plenty of attention in the press. Just last year, in the midst of a U.S./China trade war, Donald Trump mused about the Federal Reserve heading into negative territory in order to .... More »
One of the most useful personal finance tools is your credit card. You can use it to buy products and services online, set up automatic payments, finance larger purchases, and start to build your credit history. However, you must use your credit card responsibly.
While effectively managing your debt is a top priority, spotting false charges, as well as compromised or stolen credit card details, is also your responsibility. To prevent these issues from going undetected, it’s good practice to check your credit card statements routinely. Plus, this habit could save you money!
How could reviewing your credit card statement save you money?
Nobody’s perfect! That includes credit card companies and vendors. Sometimes a credit card company will charge you a fee that they shouldn’t have, or a vendor will charge you the incorrect amount. Although many credit card issuers will have fraud alerts and other safety features, every issue is not always detected.
The more diligent you are at checking the activity on your credit card statement, the more errors you are likely to catch, which will save you money in the long run…