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Pay down your mortgage faster to save in interest + MORE Jun 25th
OTTAWA – When shopping for a mortgage, most Canadians focus on the interest and how much they can save with a lower rate.
But paying a few extra dollars every two weeks instead of the usual monthly payment or making an extra lump sum payment once a year can also save borrowers thousands in interes.... More »
September 13 Update: American Express discount for Air Canada flights, WestJet Flash Sale, up to 100 Bonus AIR MILES for Budget rentals + MORE Sep 13th
Check your emails once again for another discount for Air Canada flights from American Express. This one came for my Platinum Card from American Express and offers a 15% discount on Air Canada standard fares and up. WestJet's ultra low cost carrier Swoop is planning to introduce flights between.... More »
Woman gets 3 years for role in $200M credit card fraud scam + MORE May 7th
TRENTON, N.J. – A Philadelphia woman has been sentenced to more than three years in prison for her role in a $200 million credit card fraud scheme the U.S. Department of Justice calls the largest it has prosecuted.
Vernina Adams had pleaded guilty. She was sentenced Friday in federal court in .... More »
Researchers discover groundwater beneath glacial ice streams in Antarctica - News9 LIVE + MORE May 9th
Researchers discover groundwater beneath glacial ice streams in Antarctica News9 LIVEScientists discover a giant groundwater system under the ice sheet in Antarctica Interesting EngineeringScientists discover massive reservoir of water under Antarctic ice AxiosScient.... More »
This Week in RWRDS February 7, 2025: Changes coming to Air Canada Aeroplan Feb 8th
This week we discuss the upcoming changes to Air Canada Aeroplan, the new More Rewards RBC Visa cards, up to $225 in rewards for hotel stays in Edmonton and much more in our weekly credit card and loyalty rewards newscast! Watch This Week in RWRDS here: Listen to This Week in RWRDS here: Link.... More »
Canadians looking for a break on their mortgage or credit loans may be disappointed that none of Canada’s major banks are passing along the full savings. Still, this may be a good thing for Canada’s overheated housing market, some say.
Myth: Too much available credit hurts home loan
– creditcards.com
If you have many cards with little or no balances, closing them won’t boost your credit score
July 16 Update: Up to Triple Aeroplan Miles on Avis rentals in Canada & the U.S., How to earn 125,000+ Aeroplan Miles and 1,000 Free Petro-Points
– RewardsCanada.ca
Relatively quiet Thursday! News, Tips & Tricks A new Aeroplan bonus for Avis rentals has come out. The offer is for up to Triple Miles for rentals in the U.S. or Canada. See the bonus offer section below for details!We’ve updated our Travel Hacking 101 post on how to earn free Aeroplan Miles or British Airways Avios. With current offers you can potentially earn over 125,000 Aeroplan Miles or 91,250 BA Executive Club Avios for nothing more than credit card spend. Find out more here. Posts since our last update:1,000 Free Petro-Points for logging into their new Members-Only Travel Website Here is a quick and easy way to earn 1,000 FREE Petro-Points! Simply log in to their new Petro-Points members… Bonus Offers Air Canada / Aeroplan- Earn up to Triple Aeroplan Miles on Avis rentals in Canada and the U.S…More… Until Sep 30, 15 – 60,000 Bonus Aeroplan Miles with the American Express® AeroplanPlus®* Reserve card. More… Residents of Canada only Until Oct 31, 15- 50,000 Bonus Aeroplan Miles with the American Express® AeroplanPlus®* Platinum card…Big banks pass on part of BoC rate cut
– moneysense.ca
OTTAWA – Less than 24 hours after the Bank of Canada cuts its key interest rate, Canada’s big banks have partially followed suit.
The central bank cut its rate by a quarter percentage point on Wednesday to 0.5 per cent. The banks, in turn, cut their prime interest rate by 0.15 percentage points to 2.7 per cent.
It’s the second time the central bank cut its key rate this year. When it chopped the rate in January by a quarter point, the big banks passed on only a portion of the rate cut to their customers then, too.
Moves in the prime rate directly affect the amount charged on loans such as variable rate mortgages and floating rate lines of credit.
The Bank of Canada also downgraded its outlook for the Canadian economy.
How the Bank of Canada influences mortgage rates »
The central bank cut its rate by a quarter percentage point on Wednesday to 0.5 per cent. The banks, in turn, cut their prime interest rate by 0.15 percentage points to 2.7 per cent.
It’s the second time the central bank cut its key rate this year. When it chopped the rate in January by a quarter point, the big banks passed on only a portion of the rate cut to their customers then, too.
Moves in the prime rate directly affect the amount charged on loans such as variable rate mortgages and floating rate lines of credit.
The Bank of Canada also downgraded its outlook for the Canadian economy.
How the Bank of Canada influences mortgage rates »
The post Big banks pass on part of BoC rate cut appeared first on MoneySense.
