Credit card bill autopayments: tips for getting it right + MORE Jul 22nd

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
credit card

Can you file multiple years of income taxes together in Canada? + MORE Dec 21st

Tax season is approaching. Soon, more than 30 million Canadians will be filing their tax returns. Most Canadians file their taxes every year but according to a paper from Carleton University, as many as 12% of Canadians don’t, and aside from missing out on tax refunds, this is costing many low inc.... More »
 credit

The best student credit cards in Canada for 2023 + MORE Sep 2nd

Credit Cards The best student credit cards in Canada for 2023 Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required. Find my perfect card* .... More »

Pay off credit card debt with tax refund? 5 questions Feb 18th

Question No. 1: Do you have an emergency fund?.... More »
 mastercard

Air Miles lowers value of points for vacation packages + MORE Jan 27th

The value change comes as Air Miles is re-evaluating the types of rewards it offers in the wake of its expiration decision .... More »

Podcast Episode 98: Canada’s Choice 2022 Award Winners & Results Nov 20th

  In this episode we discuss the results of the 2022 Canada’s Choice Awards where over 21,000 Canadians voted for their favourite credit cards and loyalty programs. Click Here to download the podcast (mp3) or download/subscribe via:  Links relating to this episode’s topics: Canad.... More »
Setting up autopayments can prevent slip-ups that can ruin your credit score

Continue Reading On creditcards.com »

Mortgage math when you have 2 propertiesQ: 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…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!