The “Big Five” Canadian banks offer credit cards and 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). Did you know that there are many other options?
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When you get a windfall, pay debts in full to restore credit Nov 14th
Use that windfall to pay debts off; a partial settlement will be taxable and bog down your score.... More »
New 100,000 PC Optimum points offer on PC Financial Credit Cards + MORE May 2nd
We have yet another 100K offer for PC Financial Mastercards. You can receive this bonus when you apply by May 5, 2022 and it is good for any one of the three cards in their portfolio: PC Financial MastercardPC Financial World MastercardPC Financial World Elite Mastercard To receive the bonus you.... More »
Credit Card Review: MBNA Rewards World Elite® Mastercard® Oct 16th
Revamped in 2021 for the better – The MBNA Rewards World Elite® Mastercard® triumphantly made its way back into Rewards Canada’s Top Travel Credit Card rankings in 2022. This one time leader of the pack started falling down the ranks a few years ago, due to some small changes to card b.... More »
Adapting To Online Banking Threats + MORE Apr 11th
Technology is truly a marvelous thing – consumers have become accustomed to managing their money with a click of a mouse, making the 150-year tradition of visiting the bank branch all but obsolete. We had the opportunity to chat with ING Direct CEO Peter Aceto on this changing consumer behavi.... More »
Reminder - Only three weeks left to earn those American Express Shop Small statement credits + MORE Aug 21st
Back in June American Express Canada launched the best ever version yet of their Shop Small campaign and this is just a reminder to all of our readers that you have a little over two three weeks left to earn those credits for shopping at those small and independent Canadian merchants!The.... More »
You’ll notice a few of these triple miles offers out now! This one of course is of most interest to us Canucks but there are also offers for American AAdvantage and US Airways Dividend Miles. Here is the offer as it will be posted on Rewards Canada’s Aeroplan Bonus Miles page next Monday:Triple Aeroplan Miles for every qualifying stay at any Choice Hotels International location included in the Choice Privileges* program to be eligible for the promotion. Full Details and online Booking Mar 15 – May 31, 14 *Points cannot be earned in Brazil, China, Denmark, Estonia, Finland, Iceland, India, Japan, Latvia, Lithuania, Norway or Sweden. Points can be earned in Australia, New Zealand, Singapore, Papua New Guinea and Fiji.Can’t make use of this promotion? Be sure to visit our Aeroplan Bonus Miles page for other flight, hotel, car rental and other mileage bonuses! Payday Loans: Think Twice Before Entering This Cycle of Debt
– canadianfinanceblog.com
Every now and again, we all find ourselves in a financial pinch. When you are strapped for cash, it can be tempting to turn to payday loans. These loans are known for not being too picky about poor credit, and you can get the cash fast. If you’re not careful, though, you could find yourself in big trouble down the road. I was recently on Gail Vaz-Oxlade’s radio show to talk about payday loans, and while I’ve written about them here previously, I wanted to share some more reasons I have a problem with payday loans.Short Term, High Interest Loans
Payday loans are short term loans made by companies like Money Mart and The Cash Store at very high interest rates. These loans are meant to just get you through until payday, hence the name. Few people, when getting payday loans expect them to last very long, especially since they often mean to immediately pay off what is owed once payday arrives.
Here’s how it works: A borrower writes a personal cheque for the loan amount, plus a fee, payable to the lender…
