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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Loans for Canadians with bad credit: How to improve your score Aug 22nd
If you’ve ever looked at your credit card statement and thought, “How am I ever going to pay this off?” you’re not alone. Many Canadians are dealing with high-interest debt and, on top of that, worrying about how to boost their credit score. It can feel especially tough if your credit isn’.... More »
RWRDS Daily Update May 13: 20% more value for Aeroplan points redeemed for Air Canada Vacations packages May 14th
Receive 20% more value for Aeroplan points redeemed for Air Canada Vacation packages and JetBlue's 2nd Canadian city will have to wait & WestJet cuts Vancouver to Austin. Check out today's points & miles updates here:
The post RWRDS Daily Update May 13: 20% more value for Aeroplan points r.... More »
How to invest in Canadian bank ETFs + MORE May 23rd
Though they’re well represented in Canadian stock indices, you can see why some investors would want even more exposure to Canadian banks. They have enviable dividend growth histories and ample current yields. They offer relatively stable earnings that are not vulnerable to global tariffs or suppl.... More »
How to protect your identity + MORE Sep 4th
We’re all on guard to protect our hard-earned money. What you might not notice, though, is when criminals seek something else that’s really valuable: your identity.
It happens every day. People who would never dream of giving out their credit card number after receiving a random call, t.... More »
The best GIC rates in Canada for 2026 May 26th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
This Week in RWRDS: December 16 – 22, 2023
– RewardsCanada.ca
This week, we look at the Ultimate Guide to AIR MILES Receipts, review the CIBC Dividend Platinum Visa Card, discuss IHG’s next systemwide promotion and more in our weekly credit card and loyalty rewards newscast! Watch This Week in RWRDS here: Listen to This Week in RWRDS here: Topics of discussion: The Ultimate Guide to […]
The post This Week in RWRDS: December 16 – 22, 2023 appeared first on Rewards Canada.
The post This Week in RWRDS: December 16 – 22, 2023 appeared first on Rewards Canada.
Will GIC rates keep going up in 2024?
– moneysense.ca
As Canadians are painfully aware, Canada’s inflation has stubbornly persisted above the Bank of Canada’s (BoC) target rate of 2%. In response, the BoC has repeatedly raised the benchmark interest rate—which sets the pace for banks’ prime rates—since early 2022. While no one can predict with certainty where interest rates are going, the BoC seems in no hurry to reduce rates just yet, having kept the benchmark rate stable at 5% since July 2023.
As a result of these rate hikes, the interest rates available on guaranteed investment certificates (GICs) have risen as well—leading to renewed interest from savers and investors. In fact, over the past 12 months, the average one-year Canadian GIC rate has shot up from 2% to 4.90%. As a result of this move-up in rates, even market-linked GICs—which offer a lower guaranteed interest rate because of higher potential gains linked to the stock market—are offering a minimum guaranteed rate over 2%, as of mid-December 2023.
How high will GIC interest rates go?
The interest rates you pay on various types of debt, like a mortgage or a line of credit, depends mainly on the benchmark rate set by the BoC…
