RBC credit card rewards grocery purchases

Royal Bank of Canada has launched a cash back reward credit card offering 5 percent cash back on grocery store purchases until December 31, 2010. The standard cash back rate on the new RBC Cash Back card is 1 percent on purchases.. “The RBC Cash Back card lets you spend your cash back however you…


Beware credit card insurance

This is embarrassing to admit for someone who thinks about personal finance a lot, but I have been overlooking a recurring charge on my credit card for about 10 years. The charge always appears as “Payment Protector Premium” and there is also a charge for a “Payment Protector Premium Tax.” I always assumed these charges…


Maybe your mortgage needs a check-up

While about 80% of Canadians visit a doctor at least once a year to help ensure they remain physically healthy, the number of people who check their financial health by regularly reviewing their mortgage is far less. Plenty can change in someone’s life in a year, never mind during the standard five-year mortgage a lot…


Walmart Bank launches with credit card

Freshly-minted Walmart Canada Bank stepped into the financial-services ring Tuesday with a single product: a rewards-based MasterCard. But the low-price retailing giant did not rule out using its weight to provide serious competition for the country’s handful of big banks through products and services such as loans, deposits and mortgages. “Walmart will always look to…


FirstOntario’s micro-loan plan encourages small-business ideas

Having a great idea is the easy part of starting a business. Finding the money — sometimes only a couple of thousand dollars — is the hurdle that trips most would-be entrepreneurs. That’s a problem a new initiative from Hamilton-based FirstOntario Credit Union will try to solve with a new lending program. Called micro-loans, the…