Top Canadian Credit Card Issuers Cut Interest Rates and Pause Planned Hikes Apr 13th

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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How to Read Your Credit Report + MORE Jun 1st

Your credit report summarizes your credit history and helps lenders weigh your credit risk. Often your credit report is initiated when you apply for your first credit card. Over time it can help you reach your larger financial goals such as obtaining a rental agreement or mortgage. When you apply f.... More »
 line of credit

Oaken Financial review 2020  + MORE Apr 25th

Table of contents Who is Oaken Financial? Oaken Financial review Oaken Financial GICs Oaken Financial’s High-Interest Savings Account Is Oaken Financial right for me? There are plenty of options for saving and investing in Canada, whether it’s via high-interest savings accounts, TFSAs, RR.... More »
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Mortgage Lenders Provide COVID-19 Update – Part 2 + MORE Apr 16th

In a recent series of panel discussions put on by Mortgage Professionals Canada, a cross-section of some of the country’s top lenders and insurers provided updates on how the COVID-19 pandemic has impacted operations and shaped their outlook. Similar to the previous sessions, the overwhelming mess.... More »
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What to do with a rental property when you owe more than it’s worth + MORE Apr 22nd

Q. I bought a home in Fort McMurray, Alta., for $413,000 in 2007. Five years later, in 2012, I moved out and started renting the property, and it has remained an income property since then. With the decline in oil prices, the town of Fort McMurray has seen real estate losing value like crazy. After .... More »

How the coronavirus pandemic could change the way we think about retirement in Canada Apr 28th

Over the past few decades, the concept of retirement has grown increasingly more sophisticated. Canadians preparing for retirement have been able to contemplate a variety of highly personalized approaches—from early (or even very early) retirement; to active, phased, or working retirement; and mor.... More »
Top Canadian Credit Card Issuers Cut Interest Rates and Pause Planned Hikes
The COVID-19 pandemic has swept many Canadians into unanticipated financial uncertainty. Mass temporary layoffs and job losses have left hundreds of thousands of people wondering how they are going to pay their rent and credit card bills in the coming months.
While the federal government is taking steps to ensure that its citizens have financial resources, the financial services industry is also stepping up to do their part for Canadians in their time of need. From emergency loans and mortgage deferrals to more recent measures such as pausing planned credit card interest changes and cutting interest rates, the major Canadian banks are proving that they care about their customers.
How Credit Card Issuers Are Offering Support
So far, Canada’s top banks have announced the following changes to support their customers during these times of financial stress.
Payment Deferrals
Canada’s five big banks have announced payment deferral plans for those struggling to keep up with their credit card bills…

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