Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
Can challengers like EQ Bank and Wealthsimple take on the big banks? Sep 26th
It’s not easy going up against Canada’s banking oligopoly, but some are trying.
Challengers like EQ Bank and Wealthsimple are rolling out new and cheaper offerings, growing their base and gaining brand recognition. But experts say that rather than creating a disruptive threat to the big banks.... More »
Want to raise your credit score in Canada? Avoid these 5 credit card mistakes + MORE Aug 26th
What is a credit score, and how does it affect your personal finances? Anytime you apply to borrow money, whether it’s a loan, a line of credit or a new credit card, lenders look at your credit rating—and your credit score is a big part of that.
Find your next credit card*
See cards tailor.... More »
National Bank profit falls on hit from energy sector; boosts dividend + MORE Jun 1st
The smallest of Canada’s six big banks had announced in May that it would set aside $250-million to cover bad loans to the sector
.... More »
The best American Express credit cards in Canada for 2024 May 11th
Spend
The best American Express credit cards in Canada for 2024
Which card is right for you? Here, we break down the top American Express credit cards by category to help you decide.
Compare now
powered by
Why.... More »
The best GIC rates in Canada for 2024 Jun 4th
Investing
The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Compare now
Why trust us
MoneySense is an award-winning magazine,.... More »
Credit card mistakes millennials are making
– moneysense.ca
It seems that cost-conscious millennials are so down on being in debt that many are avoiding credit cards altogether. But in doing so they’re missing out on the opportunity to start building a credit history, which is crucial for securing loans, renting apartments and getting the best insurance rates. These are the findings from a recent NerdWallet study, which reported that 31% of U.S. adults between the ages of 18 and 34 have never applied for any type of card. What’s more, 28% of these surveyed millennials had credit scores between 300 and 579, far below an optimal 700 that gets you the best lending rate from the banks. Bottom line: Using a credit card responsibly is one of the easiest ways to improve a low credit score.
The post Credit card mistakes millennials are making appeared first on MoneySense.
