All about Canadian credit cards. Learn the ins and outs and get the latest news.
February 22 Update: Canadian No Foreign Transaction Fee Credit Card Feature, 15% Bonus WestJet dollars when converting RBC Rewards & a note from Amex + MORE Feb 22nd
Ever since Chase announced they were exiting the Canadian market and shutting down their Marriott and Amazon cards earlier this year we have been inundated with questions on which cards in Canada still offer no foreign transaction fees. We have been answering individual emails and replying to commen.... More »
Earn up to 10,000 Bonus Amex Membership Rewards Points for Fixed Points Travel Program bookings + MORE Mar 1st
American Express is really making a big push for their Fixed Points Travel Program. For this month only if you make Fixeds Point Travel program bookings you can earn bonus miles (essentially a rebate) for doing so. The bonuses are as follows:I'm not going to go into huge details of the Fixed Point T.... More »
If you're looking to fund a new business but don't have the credit or established history to get a loan, there are ways to do it without resorting to a high interest loan.... More »
It’s time that I came out with the truth. You might know me as Tabatha Southey, humour writer, but I’ve been moonlighting, drawn back to my second career by the 2016 American elections. That’s right: I originally trained as a chartered Lookin’ Mighty Guilty consultant, and I guess I’m here.... More »
The digital switches give cardholders greater control over their accounts and can help reduce card fraud..... More »
The Western media discover the hidden charms of North Korea.
New card accounts have risen to the level just below 2007, says American Bankers Association data
Q: I am 65 years old and will have income for the next three years. I want to open a Registered Retirement Income Fund (RRIF) and transfer some money into it to take advantage of the pension credit on a $2,000 withdrawal. While doing so, can I then turn around and use that $2,000 as part of my contribution to my RRSP? In other words, can you withdraw from an RRIF and contribute to your RRSP in the same year?
A: Thank you, Rhonda, for your question. I assume that you do not have a pension—and you didn’t mention the value of your RRSPs. For many, it’s a great strategy to open an RRIF and transfer net $2,000 from your RRSP in order to take advantage of the pension credit. Be sure to transfer a little bit extra to the RRIF so the $2,000 withdrawal does not deplete the RRIF and cause it to close. Your financial institution will advise you on what the minimum amount is to keep the RRIF open. Or you can transfer as a lump sum.
And yes—you can technically withdraw from an RRIF and then contribute to an RRSP—if you have the room and are still under 71 years of age…