The best store credit cards in Canada 2022 + MORE Apr 22nd

The “Big Five” Canadian banks offer investment funds 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). Let’s explore the best place for you to invest.
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Million Dollar Journey editor and Canadian Financial Summit founder Kyle Prevost shares financial headlines from the week and offers context for Canadian investors.

Inflation headlines are the clickbait of the financial universe

Given the prevalence of “X is up Y%” announcements, I’m reminded of an anecdote that David Chilton (noted author of The Wealthy Barber and Dragon’s Den TV star) passed along one time. He said:

“Ignore the fancy metrics. The most reliable indicator I’ve seen for when the stock market is about to go down is when teachers start talking about it.” 

The idea was that teachers, as a group, are amongst the most conservative middle-class people in Canada. If they’re talking about stocks, we’re probably at a market peak. In a similar vein, I’ve decided to start tracking the Canadian dinner party indicator. The more a financial topic is discussed at a dinner party, the more likely it is to have reached a top. 

How many Canadian dinner party conversations these days start with some version of: “Prices just keep going up…

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The best store credit cards in Canada 2022Creatures of habit, rejoice! Your loyal shopping behaviours may just pay off, big time. If you shop regularly at certain retailers, using a store credit card can help you to earn discounts, free goods and exclusive perks by swiping or tapping for everyday purchases. Spending with a store credit card can even give you VIP access to sales. And if you already collect loyalty points, they’ll likely accumulate even quicker with a store credit card. Considering that these cards typically have no annual fee, the reasons to switch are racking up quicker than your latte charges. Read on to see which are the best store credit cards in Canada for making your daily spending work for you.

Best store credit cards in Canada

Best for Loblaws, Shoppers Drug Mart and Esso — PC Financial World Elite 
Best for shopping local — The Neo Card
Best for Canadian Tire, Sport Chek and Mark’s — Triangle Mastercard
Best for Amazon — Amazon.ca Rewards Mastercard 
Best for Walmart — Walmart Rewards World Mastercard 
Best for Costco — CIBC Costco Mastercard 
Honourable mention — Scotiabank GM Visa Infinite 

If you spend at Loblaws, Shoppers Drug Mart and Esso

PC Financial World Elite Mastercard*

This credit card brings something more to the table–get it? Arguably the best no fee card credit for groceries in Canada, the PC Financial World Elite Mastercard earns you PC Optimum Points faster when you shop at any of the Loblaw banner stores (Loblaws, No Frills, Superstore, Fortinos, etc…

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