The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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High-annual-fee credit card: To renew or not to renew + MORE Nov 3rd
Premium rewards credit cards with a slew of benefits – and steep annual fees. Do the math to see if the perks you're using offset the cost of renewing the card..... More »
Canada’s best student credit cards for 2023 + MORE May 15th
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Best student credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Earn up to 55,000 points with the RBC Avion Visa Infinite Card – a good way to get a quick injection of points + MORE Apr 14th
The best ever bonus of up to 55,000 Avion points on the RBC Avion Visa Infinite card and RBC Avion Visa Platinum Card continues to be a popular option in the market right now! This is one of the easiest welcome bonuses to achieve right now and is great for someone looking to get quick […]
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‘Anyone Can Be an Entrepreneur’: Borrowell’s Co-Founder Eva Wong On How She Made It + MORE Sep 27th
When Eva Wong joined Borrowell in 2014, she had no prior experience working in tech or finance. As co-founder and chief operating officer, she’s helped the low-interest loan and credit-education company grow to 160 employees with offices in Toronto, Montreal and Kelowna. Here, she tells CB how she.... More »
RWRDS Daily Update – December 28, 2023 + MORE Dec 29th
Up to 10% cash back and $100 in statement credits on the Simplii Financial Cash Back Visa Card, one new Cobalt Card multiplier and Turkey drops e-visa requirements for Canadians. Check out today's points & miles updates here:
The post RWRDS Daily Update – December 28, 2023 appeared first on R.... More »
Metal credit cards aren't just for the wealthy now
– creditcards.com
Metal credit cards aren’t just for the wealthy now. Once reserved only for affluent, a few no-annual-fee cards now have that “plunk” factor.
What the Bank of Canada Rate Increase to 1.5% Means for Canadian Home Owners and Home Buyers
– ratesupermarket.ca
From personal loans to mortgages, simply put, it’s now more expensive and more difficult for Canadians to borrow money.
At the beginning of 2018, new mortgage rules raised the bar for qualification. Under federal law, all financial institutions are now required to put any new applicants under a strict “stress test”, regardless of their down payment amount. Borrowers have to prove they can still make payments at the greater of two options: either the five-year benchmark rate published by the Bank of Canada (currently 5.34 per cent), or the contractual mortgage rate plus two percentage points. Otherwise, those borrowers will not qualify for a mortgage.
And in recent news, the Bank of Canada raised its overnight lending rate to the highest level in almost ten years; the target is now 1.5 per cent. Commercial banks responded right away by raising their prime rate to 3.7 per cent. This means if you have a variable rate mortgage or have borrowed money from a line of credit, it is going to get more expensive to service…
MBNA True Line® Mastercard® and True Line® Gold Mastercard® Review
– ratesupermarket.ca
When MBNA recently decided to stop taking applications for their Platinum Plus Mastercard, many customers were disappointed since it was one of the best low-interest balance transfer credit cards in Canada. However, it didn’t take MBNA long to come out with two replacement cards as they revamped their True Line cards with an interest rate of zero per cent for balance transfers in the first six months.
If you’re looking to consolidate and reduce your debt, then the MBNA True Line® Mastercard® and MBNA True Line® Gold Mastercard® credit cards are worth considering, as they offer some of the lowest interest rates on the market.
Sign Up Bonus and Earning Rate: N/A
Since this is a low interest credit card, you don’t earn any points or cash back. That being said, if your goal is to reduce debt, these cards are excellent choices.
The MBNA True Line® Mastercard® has no annual fee, but after the introduction interest rate of zero per cent ends after six months, your interest rate climbs to 12…
Profits at U.S. credit card banks fell due to higher delinquencies and lower net noninterest income in 2017, according to a Federal Reserve report.
