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?
Latest News
RWRDS Daily Update April 16: Platinum Card International Airline Program now includes Austrian Airlines & Emirates + MORE Apr 16th
The International Airline Program for Platinum Amex cards now includes Austrian, Brussels Airlines & Emirates, new Amex Offers statement credit for Estee Lauder and American Airlines adding free in flight Wi-Fi. Check out today's points & miles updates here:
The post RWRDS Daily Update Apr.... More »
Earn up to 10,000 bonus Aeroplan points on Air Canada flights to Europe! + MORE Mar 8th
Air Canada has a new flight bonus offer for Aeroplan members travelling out of Canada or the U.S.. The bonus offers up to 10,000 bonus Aeroplan points on flights between Canada or the U.S. and select in Europe. As is standard with Aeroplan flight promotions, flights booked prior to the launch of t.... More »
America is making country of origin rules a NAFTA priority. Look out, Canada. + MORE Sep 25th
( Jeff Kowalsky/Bloomberg/Getty Images)
It’s not like Canada is an unattractive place to stick a factory or a foreign outpost.
Consider: a $2-trillion economy; relatively rich households that don’t mind shopping on credit; rule of law; “free” health care; and low corporate taxes. There’s e.... More »
Rate survey: Average card rate climbs to all-time high of 16.99 percent + MORE Aug 2nd
August 1, 2018: The average credit card interest rate climbed to a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report.... More »
Canada’s best credit cards for grocery purchases 2022 + MORE Feb 2nd
Everybody needs to put food on the table, so you might as well earn rewards while doing so. Considering that the price of food in Canada is predicted to rise between 5% and 7% this year (nearly $1,000 more per year for a family of four), there’s no better time to earn useful rewards and cash back .... More »
Credit card bill autopayments: tips for getting it right
– creditcards.com
Setting up autopayments can prevent slip-ups that can ruin your credit score
Mortgage math when you have 2 properties
– moneysense.ca
Q: We have two mortgages on two separate properties:No. 1: $100,000 at 2.5% fixed that comes up for renewal in Feb. 2017
No. 2: $160,000 at 2.94% fixed that comes up for renewal in Feb. 2018
Last year my husband took out a home equity line of credit (HELOC) on the first home for $150,000 (for business use). Eventually we opted to transfer this debt into a secured loan of $100,000 with a hybrid rate—a fixed rate portion at 1.99% (up for renewal in Oct 2017) and a variable rate at 2.7% (prime+0%). Now he is ready to pay the monthly payment as well as make an extra $1,000 to $2,000 per month payment. We just don’t know what debt we should tackle first? Every time I use a calculator, it shows that I save the most if I pay down the debt with the lowest interest rate, but everything I read tells me to pay off the debt with the higher interest rate first. Help!
— Julie M., Toronto
Robert McLister, mortgage planner at intelliMortgage and founder of RateSpy:
When deciding which of the two debts to pay off quicker, always choose the one with the higher interest rate, unless there’s a special consideration…
