A look at the new RBC ION and ION+ Visa cards + MORE Sep 21st

How to go about securing the best rate and plan for your credit card in Canada.
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RWRDS Daily Update – September 29 + MORE Sep 30th

Here’s your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. We had a really big update to our American Express Cobalt™ Card Confirmed Multiplier Locations feature! Over 25 new locations from Quebec have been added to the e.... More »

‘Anyone Can Be an Entrepreneur’: Borrowell’s Co-Founder Eva Wong On How She Made It + MORE Sep 27th

When Eva Wong joined Borrowell in 2014, she had no prior experience working in tech or finance. As co-founder and chief operating officer, she’s helped the low-interest loan and credit-education company grow to 160 employees with offices in Toronto, Montreal and Kelowna. Here, she tells CB how she.... More »
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American Express Fall Offers provide up to 85,000 points for consumer cards and up to 110,000 points for business cards Sep 25th

 American Express' big summer campaign came to a close earlier this week and the fall acquisition offers are now available. The fall campaign has a mix of standard welcome bonus offers and some elevated offers though not as high as what we saw over the summer. With that being said, all of the c.... More »
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Earn up to 4,000 bonus points for your Marriott stays this fall and one new American Express Cobalt Card confirmed 5x points location + MORE Sep 24th

Here's your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Marriott’s Fall systemwide promotion is now live. The promotion offers 2,000 bonus points per stay starting with your second stay. This offer can be earned at al.... More »
StayVancouver's Gift Card offer returns - Earn up to a $250 Mastercard Gift Card for a two night stayStayVancouverHotels has brought back their gift card offer for the fall. You may remember them as BeVancouver previously and that they also used to offer Amex gift cards and then it switched to Visa Gift Cards, then Mastercard gift cards and and the latter is what we have this time.  Unlike previous promotions where you could earn a gift card with just a one night stay and then additional cards the more nights you stayed, this time they require a 2 night stay with a gift card being awarded for each night. The offer is available at 42 different hotels in the downtown Vancouver area.The total gift card value ranges from $100 to $250* depending on the hotel you select but any additional nights will earn $50 at all locations. The offer is good for stays October 1 to December 31, 2022 and allows you to cancel at no charge up to 48 hours prior to check-in.* “The 2-night stay qualifies for a total of $100, $150, $200 or $250 in Mastercard® gift cards depending upon the hotel booked…

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New Amex Offers for Lenovo and Parachute plus PC Optimum Points Days return this weekHere’s your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Two new Amex Offers were revealed today from Lenovo and Parachute. for For a once I actually didn’t receive these on my Platinum Card rather this time I received them on my Cobalt Card. The offers are as follows:Spend at least $1,000 in qualifying purchases using your registered Card at lenovo.com/ca/en/pc/ by 24/10/2022 and earn a one-time $100 statement credit. Registration cap applies. Terms apply.Spend at least $300 in qualifying purchases using your registered Card at www.parachutehome.com/en-CA by 18/03/2023 and earn a one-time $60 statement credit. Terms apply.Simply log in to your Amex account or go onto the Amex app to see if these offers have been sent to you and to register for them. These offers are also open to Scotiabank issued American Express cards (Click here to register your Scotia card)  You can find this and many more offers in our Guide to American Express Canada ‘Amex Offers’Image via American Express — PC Optimum Points Days returns this week! From September 22 to 28 members will be earn tons of extra points at over 4,500 stores across Canada…

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A look at the new RBC ION and ION+ Visa cardsRBC Royal Bank launched two new credit cards this past week, the RBC ION Visa and RBC ION+ Visa cards. These two cards will replace the Rewards+ and Signature Visa cards and feature changes to earn rates, redemption rates and benefits. The naming of these cards falls inline with RBC’s move of rebranding their RBC Rewards program to Avion Rewards.Earning PointsAt first glance these look like very competitive earn rates by offering up to 3 points per dollar spent but one must look not only at how a card earns points but how you can redeem those points and that plays a significant part for these cards. Here are the earn rates:RBC ION Visa1.5X Avion points on Grocery, Rideshare, Daily Transit, Gas & EV Charging plus Streaming, Digital Gaming & Subscriptions Earn 1 Avion point for every $1 spent on all other qualifying purchasesRBC ION+ Visa Earn 3X Avion points on Grocery, Dining & Food Delivery, Rideshare, Daily Transit, Gas & EV Charging plus Streaming, Digital Gaming & SubscriptionsEarn 1 Avion point for every $1 spent on all other qualifying purchasesBoth cards are launching with limited time welcome bonus offers as follows:RBC ION Visa Get 6,000 Avion points on approval with the RBC ION Visa…

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The benefits of owning a vacation property are obvious. A cottage, cabin, condo or trailer a short drive from your home can provide a quick weekend recharge. A property down south can serve as a regular vacation destination or a winter home for a snowbird.

Sometimes, emotions are the motivation for buying a vacation property. I like to evaluate a property purchase from a financial point of view—and here is how. 

The costs of buying a vacation property

Say a property’s purchase price is $500,000. Whether you use cash, a mortgage/home equity line of credit, or a combination of the two, there are other costs to consider.

If you purchase with cash that you could otherwise invest for a 4.5% return (to use a conservative assumption), there is an opportunity cost of not investing that money or leaving it invested. If you borrow money, there may be an interest cost of 4.5%. So, to keep it simple, we will assume an opportunity or financing cost of 4.5%. 

Property taxes, utilities, insurance, condo fees, and maintenance could easily add another 2% to 4% per year in costs…

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