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
Shopping with Knix? Stack the new Amex Offer with the Avion Select offer to earn more cash back + MORE Feb 22nd
This week saw the return of Knix to the Amex Offers program with a new statement credit offer for American Express cardmembers as well as Scotiabank American Express cardholders. On top of this, RBC’s Avion Select program (the portion of Avion Rewards that is open to all Canadians) also has Kn.... More »
Do you need market-neutral ETFs in your portfolio? Apr 23rd
In August 2025, I wrote about a concept that started gaining traction among financial advisors: the 40-30-30 portfolio. This allocation emerged in the aftermath of the 2022 bear market, when rising inflation and aggressive interest-rate hikes caused both stocks and bonds to decline at the same .... More »
Earn 3x Avion Rewards points and save up to 25% on hotel bookings + MORE Jan 5th
RBC’s Avion Rewards is offering 3x Avion Points when you book any hotel via their travel platform and use an eligible RBC credit card (Avion cards, ION cards etc.) to pay for the stay. The 3x points offer is available on hotels around the world and select locations will also have up to a 25% [R.... More »
The RBC British Airways Visa Infinite Card will now earn up to 3 Avios per dollar spent + MORE Apr 15th
The RBC British Airways Visa Infinite Card was made even better today with the introduction of improved earn rates. This card that is primarily targeted towards Canadians who fly with British Airways or other oneworld airlines will now earn up to 3 Avios per dollar spent. In addition to the new earn.... More »
Aeroplan is clawing back portions of credit card welcome bonus points (for those who have received multiple bonuses) Nov 1st
If you frequent credit card or points and miles forums on sites like Reddit and Red Flag Deals, chances are you have seen this latest development from Aeroplan. Or, perhaps you are actually one of those people who have received a letter from Aeroplan stating they are clawing back points you received.... More »
Frequently Asked Questions About RRSPs
– ratesupermarket.ca
A Registered Retirement Savings Plan (RRSP) is a useful financial tool to help Canadians save for their future. Many Canadians will open an account through their bank, a credit union, trust, insurance company, or may contribute to an RRSP through their employer and their chosen financial institution. Yet, there is still a lot of confusion around RRSPs and how they work. Some may even confuse their RRSP with a TFSA. Without a proper understanding of the financial products, account holders may lose out on the benefits they offer.
To clear things up, we’ve listed answers to fundamental RRSP questions so you can get the most out of your investment.
RRSP Questions
When can you start contributing to an RRSP?
Is there more than one type of RRSP?
What is an RRSP deduction limit?
What is the RRSP contribution room for 2020?
What if you over contribute to your RRSP?
Can you transfer your RRSP?
How do you make an RRSP withdrawal?
When Can You Start Contributing to an RRSP?
Canadians can start contributing to an RRSP as soon as they generate some contribution room…
