Rate survey: Average card APR holds steady at 15.18 percent + MORE Nov 10th

As we do each month we bring you the latest set Miles & More “Meilenschnaeppchen” discounted mileage awards!  This month we see a lot less offered than we saw last month as the only options are the economy class offers on LOT to Poland. That being said it is a great offer and we even show you how to get these for free outside of the award ticket taxes/fees/These offers are good for travel until Dec 31, 16 (must be booked by Nov 30)You can redeem Miles & More miles for round trip tickets on LOT from Toronto to Poland for only 30,000 miles. This is a 50% discount off the normal Economy Class award ticket price of 60,000 miles. As to LOT, it is well known they have low taxes and fees so this makes it a great deal!!Here are the offers:The crazy thing is that you can actually get the round trip economy class tickets when you grab a couple of credit cards and a $120 annual fee! – there aren’t many cards that will get you a round trip flight to Europe for that amount of spend!  How so? As we usually mention in this post you can boost your Miles & More account with the Starwood Preferred Guest Credit Card from American Express…

Rainy day savings accounts are a bad idea
In this new age of low interest rates, rainy day savings make a lot less sense. It’s hard to justify keeping six months’ salary in a plain-vanilla account. “If you have a mortgage, money in a savings account is better spent putting it towards the mortgage,” says Dan Bortolotti, MoneySense columnist and certified financial planner with PWL Capital in Toronto. As well, if you have a mortgage, an equity line of credit on your home makes sense. “Just ensure you get the equity line of credit approved while you’re employed,” says Bortolotti. A word of caution—only tap the line of credit in a real emergency. It’s tempting to dip into it for impulse buys like a new car or trip to Vegas. “You have to avoid that,” says Bortolotti. And if you don’t have a mortgage? Then you likely have money sitting in either a TFSA or RRSP. Simply put a portion of the TFSA money in investments you can access quickly in a pinch—say, if the car needs engine repairs or your home needs a new roof…

Nov. 9, 2016: The average APR on new credit card offers remained near record highs Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report.

In this feature of Rewards Canada’ Ultimate Credit Card Portfolios we look at the ultimate one for travelling on Air Canada. This one differs somewhat from our Ultimate Aeroplan Portfolio as this one doesn’t look at maximizing the number of Aeroplan miles you earn but rather maximizing the benefits you get for travelling on Air Canada. We have always recommended that you should carry a Visa, a MasterCard and an American Express card in your wallet. The reason why is that there are benefits, promotions and earning potential unique to each brand of credit card. We won’t go into detail here as you can read all about it in our feature on how to Maximize your Miles and Points but here we outline one card from each brand that will help you make you travel on Air Canada better, easier and more enjoyable all the while earning Aeroplan miles or other points with your purchases. Ultimately there are various options that could be utilized for an Air Canada portfolio but we look at one card from each issuing family that will benefit you when you travel on Air Canada…

We have a tendency to focus on our failures. It’s easy to get stuck in a rut where all we see is what went wrong. This is especially true with finances. When was the last time you focused on the good progress you have made with your money?
In Canada, we don’t talk about money much. When we do, we often complain about it. But what if we were able to talk more about our financial wins?
This year, for Credit Education Week, the theme is “financial wins”, encouraging Canadians to share the moments when they took control of their situation to reach a financial goal, so that others can learn from their success. This is an important topic because too often we get bogged down in the negative. It’s much harder to stay motivated to reach your financial goals if you are stuck in a negative thought pattern. Instead of focusing on what’s wrong, look at what you’ve done right.
Capital One Canada and Credit Canada Debt Solutions came together 10 years ago to create Credit Education Week, which takes place the second week of November, during Financial Literacy Month…