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?
Latest News
New welcome offer of 100,000 PC Optimum points on PC Financial Credit Cards Jul 16th
We see the return of a 100K credit card offer that seems to be coming around every few weeks now but when it is around it is only live for a short period. That offer is the 100K bonus for getting a PC Financial Mastercard. This time the offer is valid for applications until July 28, 2021 and is g.... More »
RWRDS Daily Update – February 14 + MORE Feb 15th
The Ultimate Guide to Credit Card & Loyalty Programs for the All Inclusive Vacationer and a new offer for the National Bank Platinum Mastercard. Check out today's points and miles updates here:
The post RWRDS Daily Update – February 14 appeared first on Rewards Canada..... More »
Amtrak resumes service between Toronto and New York & a new Amex Offer for Lordco Auto Parts + MORE Jul 12th
Here's your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Amtrak has resumed service to Toronto from New York after a two year hiatus. The Maple Leaf service operates daily with six stops on the Canadian portion of the rout.... More »
New Amex Offers for mobile wallet payments, buying gift cards for Oxford properties & ordering food from Pizza Nova + MORE Feb 3rd
Several new Amex Offers offers became available over the past few days. The one that is making many people happy is one for bonus points or a statement credit for using a mobile payment option like Apple Pay, Google Pay etc. Thanks to my wife, Harry B. and Jeff W. who all alerted me to this of.... More »
Top Credit Card Sign Up offers for January - These cards provide the most value out of their welcome bonuses + MORE Jan 7th
Here are the Rewards Canada Top Travel Credit Card Sign Up offers for the month of January 2022! This is not a 'best' credit card list like our Top Travel Rewards Credit Card rankings but instead a look at cards that have very good acquisition (welcome/sign up) offers. As always when choosin.... More »
`Wolfe disk`: Astronomers discover ancient galaxy similar to the Milky Way WIONAncient disk galaxy looks 4.5 billion years ahead of its time New AtlasAstronomers make incredibly discovery of massive disk galaxy similar to our own 7NEWS.com.auAstronomers announce discovery of ‘unlikely’ new galaxy: report PennLiveWolfe Disk: Huge rotating disk galaxy in distant universe baffles astronomers – Republic World Republic WorldView Full coverage on Google News
What Is A Home Equity Line of Credit?
– canadianfinanceblog.com
A Home Equity Line of Credit, or HELOC, is a revolving line of credit that is secured against the equity in your home. You can operate a HELOC on its own, or it can be set up alongside a standard mortgage. HELOCs are known for their flexibility because they allow you to borrow a pre-approved amount of money as you need it. They also feature a variable interest rate with no fixed term, meaning that you can pay the balance off in full at any time, without any prepayment penalties.
Many HELOCs come with an option of locking any portion of the balance owing into a fixed rate and term, as a way of securing the borrower’s interest costs. A HELOC can be set up for the purchase of a home, or as a refinance. Of note, the revolving portion of a HELOC cannot exceed 65% of a home’s loan to value. Combined with a mortgage, the maximum loan to value increases to 80%.
HELOC Features
Many HELOCs come with an option of locking any portion of the balance owing into a fixed rate and term, as a way of securing the borrower’s interest costs. A HELOC can be set up for the purchase of a home, or as a refinance. Of note, the revolving portion of a HELOC cannot exceed 65% of a home’s loan to value. Combined with a mortgage, the maximum loan to value increases to 80%.
HELOC Features
Revolving credit product
Offers maximum flexibility
Variable interest rate ranges between Prime + .5% and Prime + 1…
`Wolfe disk`: Astronomers discover ancient galaxy similar to the Milky Way WIONAncient disk galaxy looks 4.5 billion years ahead of its time New AtlasAstronomers make incredibly discovery of massive disk galaxy similar to our own 7NEWS.com.auAstronomers announce discovery of ‘unlikely’ new galaxy: report PennLiveWolfe Disk: Huge rotating disk galaxy in distant universe baffles astronomers – Republic World Republic WorldView Full coverage on Google News
