There are more credit card options in Canada than you can shake a stick at! Stay on top of the best rates and plans right here.
Latest News
1 millipede, 1,306 legs: We found the world’s leggiest animal in Australia - EastMojo + MORE Dec 18th
1 millipede, 1,306 legs: We found the world’s leggiest animal in Australia EastMojoThis is the 1st millipede ever discovered that actually has more than 1,000 legs CBC NewsScientists discover first actual millipede with more than 1,000 legs Boing BoingThis new spec.... More »
RWRDS Daily Update – October 3 + MORE Oct 4th
Here’s your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. On top of the Small Business Shop Small Amex Offer there were other Amex Offers for consumer cards that came out today. These are the offers: Spend at least $125 in.... More »
New increased welcome bonus of 950 miles on BMO's no fee AIR MILES cards + earn 5x miles at Shell until the end of the year + MORE Aug 18th
BMO updated their portfolio of no fee AIR MILES credit cards today with a new increased welcome bonus offer of 950 AIR MILES Rewards Miles. This is an increased of 150 miles over the previous offer that we have seen for sometime now. That 950 miles is worth $100 in cash if you are collecting AIR MIL.... More »
Dan Gainor: Media concede there's a border crisis, but won't give Trump credit for getting Mexico to act - Fox News + MORE Apr 6th
Dan Gainor: Media concede there's a border crisis, but won't give Trump credit for getting Mexico to act Fox NewsTrump struggles with a growing problem on the border CTV News‘Our country is full’: Trump says immigration system overwhelmed Global News'Our country .... More »
New Amex Offers for Ivanhoe Cambridge Gift Cards and Robinson Lighting + MORE Jul 7th
Two new Amex Offers offers showed up in my account today for the Platinum Card from American Express and my wife's Marriott Bonvoy American Express card account:The first one is really the stand out offer and you should log in to your account right away to see if you have been offered it as it is li.... More »
Creative Commons/Quinn DombrowskiQ. I am single and set to retire next year. I also have a $55,000 inheritance coming to me shortly. Should I take this money and pay off my outstanding debt, which is about $50,000? Or put the money into a Tax-Free Savings Account (TFSA), which I haven’t started to contribute to yet? I will have a modest income in retirement that will be enough to get by on but not much more than that. I also have only about $30,000 in savings. What’s the best course of action for me?
— Daniela in Halifax
That’s a great question Daniela. So let me make some assumptions. Assuming that the $50,000 is personal consumer debt at interest rates of about 20% or higher (which is what is charged on many department store credit cards), I suggest paying off that debt. In one year, you would save $10,000 in interest at 20%. That alone could increase your monthly cash flow by $833. You could then turn around and use that monthly saving to contribute to your TFSA…
What to do if you use your corporate credit card for a personal expense
