The Difference Between a Secured and Unsecured Loan Oct 12th

All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
credit card

One week left to grab the higher sign up bonus on the Starwood Preferred Guest Credit Card from American Express + MORE Oct 13th

Wow three months sure do fly by! It feels just like yesterday when the increased sign up offer on the Starwood Preferred Guest Credit from American Express launched but alas it was not. In fact it has almost been three months and the offer will wrap up next week on October 18th. If you don't have th.... More »

Is it time for a holiday credit card swap? Oct 22nd

Between gifts, holiday travel and year-end expenses, the holidays are a good opportunity to score major rewards using the right credit card. Just make sure you meet minimum spends, avoid fees and don't carry a balance..... More »
 air miles

My credit score’s 750! Why was I denied a card? + MORE Oct 20th

Five reasons why you may be denied a credit card, even if your credit score is excellent.... More »

2017 Retail Store Card Survey: Customers lured to high interest cards with more rewards + MORE Oct 18th

Retailers are increasing rewards offerings on high-interest co-branded and store-only credit cards, according to a new report from More »

‘I’m just so furious’: Mother and son both fall victim to Equifax Canada hack + MORE Oct 21st

Robin Harvey thought she was being financially prudent when she urged her son to sign up to monitor their credit files at Equifax Canada in 2013. Her son was graduating from university at the time, and the former journalist pushed him to keep a close eye on his records while reactivating her account.... More »
The Difference Between a Secured and Unsecured Loan
The two most common types of loans are secured and unsecured loans. Whether you’re looking to borrow money for a new car or even a vacation, it’s best to understand your options before applying.
What is a secured loan?
Secured loans are generally more customizable and negotiable. They can have either have a fixed or variable interest rate and can last for a set or variable amount of time.
You can likely borrow a lot more at a lower interest rate with a secured loan, because you are generally required to put up some form of collateral for approval. A common example of a secured loan is a mortgage, in which your home is the collateral. If you are unable to make your mortgage payments, your house can be taken away, in what’s known as foreclosure.
And though your credit history will be considered, your current credit score doesn’t bare as much weight in the approval process. Secured loans can still be a great option for those who are having a hard time getting a loan due to their poor credit rating…

Continue Reading On »


Compare insurance quotes through - save time and money!