All about Canadian credit cards. Learn the ins and outs and get the latest news.
Latest News
February 21 Update: Air Canada introducing Economy Basic fares, Cobalt multipliers updated and a new look for WestJet coming next week? + MORE Feb 21st
Air Canada is introducing Economy Basic fares for their flights within Canada. We've seen this trend in the U.S. with major U.S. airlines starting basic economy fares to compete with Ultra Low Cost Carriers and this is pretty much evident here with this latest move from AC. These are bare bones .... More »
Air Canada Signature Suite in Vancouver set to open on March 14 + MORE Mar 14th
Last night Air Canada gave a sneak peek of its brand new Signature Suite in Vancouver to the media and we now know the new lounge will open on March 14. This will be Air Canada's second Signature Suite in their business class lounge network after the one in Toronto which debuted in 2017.Recommended .... More »
5 Everyday Finance Questions We Ask Ourselves but Never Know the Answer To + MORE Feb 7th
Talking about money can be awkward and uncomfortable. And, comparing yourself to your sister, brother, friends, neighbours, and coworkers certainly doesn’t help. The state of your finances does not determine what kind of person you are, and the topic is no longer taboo. So, why aren’t we talkin.... More »
Payments for the Canada Workers Benefit arriving sooner—find out why + MORE Jul 28th
If you receive the Canada Workers Benefit (CWB), you’ll notice a change to this federal tax credit as of this week, namely that you’ll get the money sooner. In the past, CWB recipients claimed the benefit for a certain year when filing their income tax return—for example, claiming the CWB for .... More »
July 4 Update: WestJet's Race for Rewards opened up to Teal members, RBC Cathay Pacific Visa sign up bonus increased to 35,000 Asia Miles & more Jul 4th
WestJet has expanded their Race for Rewards promotion to include base Teal members now. If you are a Teal member the bonuses are the same as those for Silver members. This offer will allow Teal members to earn up to 450 Bonus WestJet Dollars + additional benefits when you fly on WestJet . For more.... More »
The Difference Between a Secured and Unsecured Loan
– ratesupermarket.ca
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…
