Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
The best Mastercard credit cards in Canada for 2024 + MORE Oct 18th
Credit card comparison tool
Compare Mastercard credit cards available in Canada using our interactive tool below. You can filter cards based on rewards value, annual fees, income requirements and more.
powered by
The best Mastercard credit cards in Canada
Mastercard is one of the .... More »
QuadrigaCX case: Canada's big banks wary of cryptocurrency asset Feb 22nd
The wary skepticism that Canada's big banks have for the cryptocurrency industry was on full display Friday when a Nova Scotia judge issued an order for the eventual disbursement of more than $30 million that belonged to the insolvent QuadrigaCX trading platform..... More »
Take the Quiz: Do You Know Your Credit Score Fundamentals? Jun 26th
Your credit score is a very important number, which can help you get an apartment, car loan, mortgage, personal loan, or rewards credit card, among other financial decisions.
It is vital to know your credit rating and, if necessary, how to improve it. Staying up to date with your credit report can .... More »
Why the real estate market is slowing down in 2017 + MORE Jan 6th
.ask-moneysense-2016-hed{margin-bottom:1em;max-width:100%}@media (max-width: 991px){a.flex-item{width:93%}}@media (min-width: 992px){.ask-moneysense-2016-links{display:flex;flex-direction:row;flex-wrap:nowrap;justify-content:space-between;align-content:space-around;align-items:flex-start}}a.fl.... More »
The best TD credit cards in Canada in 2025 Apr 5th
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over .... More »
Is that credit card with the annual fee really worth it?
– canadianbusiness.com
NEW YORK, N.Y. – The biggest months for adding and dropping credit cards are December and January, so now’s the time to make sure that $95 annual fee is really worth it.
Chances are, it’s not.
“Generally, for the average credit card holder, it is not likely they are going to use a card with a high annual fee enough to justify it,” said Matt Schulz, a credit card expert with Bankrate.com.
Banks raked in $90.3 billion in credit card fees in 2014, according to Bankrate, and additional fee hikes last year by some companies mean that number is only going to grow. American Express raised the fee on its popular Premier Reward Gold Card and its co-branded credit card with Starwood Hotels from $65 to $95 last year, for example.
Schulz says banks are lowering interest rates they are charging on cardholders who carry a balance, but raising annual fees to help generate income.
December is the most popular month for signing up for new credit cards, as people add reinforcements to their holiday shopping arsenal…
Chances are, it’s not.
“Generally, for the average credit card holder, it is not likely they are going to use a card with a high annual fee enough to justify it,” said Matt Schulz, a credit card expert with Bankrate.com.
Banks raked in $90.3 billion in credit card fees in 2014, according to Bankrate, and additional fee hikes last year by some companies mean that number is only going to grow. American Express raised the fee on its popular Premier Reward Gold Card and its co-branded credit card with Starwood Hotels from $65 to $95 last year, for example.
Schulz says banks are lowering interest rates they are charging on cardholders who carry a balance, but raising annual fees to help generate income.
December is the most popular month for signing up for new credit cards, as people add reinforcements to their holiday shopping arsenal…
