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?
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Why banks are so slow to lower lending rates, but so quick to hike them + MORE Jul 15th
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Canada’s biggest banks raised their prime interest rates one after another this week following the Bank of Canada increase of its policy rate to 0.75 per cent from 0.5 per cent. The base lending rate at the Big Six now is 2.95 per cent, compared with 2.7 per cent before the central bank.... More »
The best Visa credit cards in Canada for 2024 Jan 26th
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The best Visa credit cards in Canada for 2024
This guide to the best Visa cards in Canada will help you narrow down the field and find a credit card that fits your lifestyle.
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The best high-interest savings accounts in Canada for 2025 + MORE Oct 7th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Where to find yield in 2015 + MORE Jan 5th
(Photograph by Raina + Wilson)
Short-term GICs and savings accounts
Approx. yield risk
1% – 2%
If you want safety without locking in for the long term and you’re willing to put up with minimal yields, go for variable or short-term investments with negligible credit risk. Two common options a.... More »
How to build credit history in Canada Jun 30th
A credit history is a person’s track record of using credit (borrowing money) and repaying debt. Your credit history can affect many aspects of your financial life—from getting approved for a credit card or renting an apartment to taking out a mortgage or a car loan, among other things. In some .... More »
Travel Rewards Credit Cards: Customers Want The Full Story
– ratesupermarket.ca
Consumers are looking to switch up their travel reward credit card options, according to a recent study commissioned by Capital One. Results released from their Canada Points Pain survey show 75 per cent of respondents are taking a “closer look at their options”, upon hearing of recent changes to a leading airline travel rewards program, and an additional 38 per cent say they plan to change their card.
Says Capital One President Rob Livingston in a statement,” Cashing in travel rewards is supposed to be the fun part, not a source of stress.” Given other recent data that shows four in 10 Canadians find travel rewards credit cards to be confusing, it appears he’s hit the nail on the head.
Consumers Are Reacting To Market Shakeups
While Capital One’s reference to a “leading travel rewards program” is purposely ambiguous, it’s not a huge stretch to speculate who the survey may be referring to. As previously reported, CIBC, TD and Aimia, the owner of the Aeroplan rewards program, have inked a deal to split existing CIBC Aerogold card holders between the two lenders…
