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What happens to your debt when you die + MORE Mar 3rd
Ask MoneySense
I carry a lot of credit card debt and haven’t made a dent in my mortgage. I’m in my 60s, and I’m starting to think about next steps for my family. After I die, will my family inherit my debt?—Terry
Thanks for your question, Terry. You’re definitely not alone in worrying .... More »
Save 50% or more on reward flights between Calgary and Frankfurt Jun 4th
The latest set of Miles & More Mileage Bargains (Meilenschnaeppchen) discounted mileage rewards are here for this month. For June we see discounted offers the Eurowings Discover Calgary to Frankfurt route Eurowings Discover Travel between Calgary and Frankfurt in Economy or Business Class. Book.... More »
RWRDS Daily Update July 10: Get 600 bonus Stars for linking a TD card to Starbucks Rewards & Amex will open a Centurion Lounge in Amsterdam + MORE Jul 11th
Get 600 bonus Stars for linking a TD card to Starbucks Rewards and American Express will open a Centurion Lounge in Amsterdam in 2026. Check out today's points & miles updates here:
The post RWRDS Daily Update July 10: Get 600 bonus Stars for linking a TD card to Starbucks Rewards & Amex w.... More »
Aeroplan cuts earn rates for Starbucks App reloads + MORE Sep 28th
Aeroplan has quietly changed the earn rates when you reload funds to your Starbucks account. Long time Rewards Canada reader Paul M. alerted us to this change on Twitter. The earn rates have taken a pretty big cut from when the partnership first launched about a year and a half ago. @RewardsCanada I.... More »
Guide to picking a Points Earning Machine + MORE Jan 18th
Sometimes we get inquiries for credit cards that all the reader is asking for is a way to earn as many points as possible. They could care less about benefits, insurance and what not. They just want to rack up a ton of points on their everyday spending. That’s where the Guide to picking a [….... More »
Should you borrow to invest with the Smith Manoeuvre?
– moneysense.ca
Do you know of any Smith Manoeuvre calculators? The more variables I add, like inflation, ROI, different interest rates for principal, HELOC vs. variable-rate mortgage, the more my head spins. –Warren
I am not familiar with any Smith Manoeuvre calculators, Warren, but I can try to simplify the math a bit. First, what is the Smith Manoeuvre? It was developed by Fraser Smith in the 1980s as a method to make mortgage interest tax-deductible while building investment assets.
Lenders will typically allow you to have a home equity line of credit (HELOC) for up to 80% of the value of your home minus your mortgage balance. (If you are refinancing, your HELOC may be limited to 65% of the home’s value.)
As an example, say you have a $750,000 home and a $600,000 mortgage with an interest rate of 4%. Your HELOC would be $600,000 less your mortgage. As you pay down your mortgage, the equivalent amount of room is added to your HELOC limit. Assuming a 25-year amortization, the first monthly payment for your mortgage pays down $1,173 of principal…
20,000 points + first year free on National Bank cards extended, Tangerine extends 10% cash back offers & earn Aeroplan points for online LCBO purchases
– RewardsCanada.ca
Here’s your Rewards Canada Daily update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Today’s update is brought to you by the HSBC High Rate Savings Account with which you can enjoy a total annual interest rate of up to 2.65% on new deposits± Click here to learn more about this offer National Bank of Canada has extended the current increased welcome bonus offers on their World Elite, World and Platinum Mastercards. All three card’s 20,000 bonus points plus first year free offer are now available until August 31. 2022. Click here to learn more about these offers. —Tangerine has also extended the welcome bonus offers on their Tangerine Money-Back Credit Card and Tangerine World Mastercard. Both cards are offering an extra 10% back (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months. The offers are now available until July 31, 22. Click here to learn more about these offers.— One bit of news from last week that we are catching up on is that you can now earn Aeroplan points for LCBO online and app purchases…Top 5 Small Business Credit Card Sign Up offers for June – These cards provide the best value out of their welcome bonuses
– RewardsCanada.ca
Here are the Rewards Canada Top 5 Small Business Credit Card Sign Up offers for this month! This is not a ‘best’ credit card list like our Top Travel Rewards Credit Card rankings but instead a look at cards for small businesses that have very good acquisition (welcome/sign up) offers. As always when choosing a card you should always take other factors into account other than the just sign up bonus, but when some of these cards are first year free, they can and do pay off even when you grab them strictly for the sign up rewards. This month we see three first year free cards on the list! And remember this list is based on minimum value towards travel which we calculate as the minimum value of the welcome bonus less the annual fee. It is entirely possible to receive more value out of the welcome bonuses on all of these cards since they earn Aeroplan points - which can provide some huge outsized value rewards!Here are our top 5 small business credit card sign up offers for June:CIBC® Aeroplan® Visa* Business CardMinimum value: $1,200CIBC’s equivalent of the above TD card has a new offer this month that provides up to 60,000 Aeroplan points, a Buddy Pass and an annual fee rebate…
