Earning credit card rewards points is one of the most satisfying benefits of using a card. When you collect points strategically, paying with points becomes a regular, rewarding experience. Below are five practical habits to help you generate more points from the spending you already do. 1. Maximize points on everyday spending Start by matching … Read more
Credit cards are a common part of daily life. They offer a convenient, secure way to pay for goods and services, often include perks and benefits, and—when used responsibly—help you build a credit history and improve your credit score. A strong credit score makes it easier to qualify for loans, mortgages and other forms of … Read more
More than two-thirds of Canadians rarely use cash for everyday purchases. Bills and coins are being replaced by electronic payments because they are convenient, fast and secure—and many cards add perks or extra rewards. Since electronic payments play such a large role in daily life, choosing a credit card that suits your spending habits and … Read more
If you enjoy travel and want a card that rewards both your everyday spending and your adventures, the National Bank World Elite Mastercard is worth a close look. It combines travel-focused benefits with solid earnings on groceries, dining and everyday bills, making it a strong option for Canadians who want one card to do more. … Read more
If recent trips down the grocery aisles have left you surprised by the totals, you’re far from alone. The cost of feeding a family has risen noticeably since the COVID-19 pandemic began, with prices for groceries and dining out remaining higher than they were a few years ago. While overall inflation has moderated lately, food … Read more
A recent TransUnion report shows a growing number of Canadians are seeing their credit card balances rise as higher interest rates and the cost-of-living squeeze strain household budgets. The report, released Tuesday, found the share of Canadians making only the minimum monthly payment on their credit card climbed eight basis points to 1.3% in the … Read more
Welcome to Canada. Whether you’re arriving to live, work or study, this guide explains how personal finance works here: employment basics, housing, credit and credit scores, financial planning, and how to start investing. Use these practical tips to build a solid financial foundation as a newcomer. How to prepare before moving to Canada Working in … Read more
In a previous column, I explained the obligation to close registered retirement savings plans (RRSPs) by the end of the calendar year in which you turn 71. As that deadline approaches, the topic gains urgency. This follow-up looks at a closely related requirement: converting locked-in retirement accounts (LIRAs) into life income funds (LIFs) and the … Read more
Between rising inflation, higher housing costs and increasing interest rates, many younger Canadians are seeing their debt grow rapidly. Scott Terrio, manager of consumer insolvency at Hoyes, Michalos Licensed Insolvency Trustees, encounters this regularly. While the average credit card balance in Canada is under $4,500, the cases Terrio handled last year for clients aged 18 … Read more
Rising stress in auto loans and mortgages prompted Scotiabank to increase its provisions for potential loan losses in the second quarter, contributing to a decline in profit and raising questions among analysts about near-term growth prospects. The bank reported net income of $2.09 billion, or $1.57 per diluted share, for the quarter ended April 30, … Read more