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Personal Finance • Re: Prepaid Credit Cards (Continuously Updated)

August 4, 2016, 5:16 pm
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the pcf prepaid mc wasn't there for long lol

Statistics: Posted by bluebellrose — Aug 4th, 2016 8:16 pm

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Personal Finance • Apartment return not "cleaned". Can they take anything from me

August 5, 2016, 2:10 pm
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I was renting an apartment at a location downtown. My girlfriend and I decided to move into a new apartment together. The supervisor of the old apartment is a stickler for rules and overbearing.

In any case she handed me a form to clean up all the apartment. I did as asked, however the level of cleanliness is "not up to par" according to her. Thus she told me I will be billed the amount for cleaning. She said she will take pictures and email them to me as proof. I have yet to receive these. Which makes me believe she was just venting and has no recourse to damage me in any shape or form.

I am certain I cleaned it to a sufficient degree, if not more so. I am a very considerate person.

My question is I have already paid everything in full. I pay all my rents on time. The landlord has nothing on file for me. I always pay by cheque. Is there anything they can do right now in terms of damaging my credit score, credibility etc?

Please advice :D

Statistics: Posted by syntex101 — Aug 5th, 2016 5:10 pm

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Personal Finance • cibc said that they is a problem with my equifax

August 5, 2016, 2:12 pm
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Hi,
i recently apply for a credit card at cibc but they said that my name is different on my credit bureau. Equifax tell me that nothing is wrong and i recently apply for tangerine credit card without any issue. So i call back cibc and tell them that the problem seem to be on their end and i would like to close my application and the angent told me that this could reflect poorly on my credit bureau is that true?

Statistics: Posted by jplanner — Aug 5th, 2016 5:12 pm

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Personal Finance • Subleasing out a 1br in a 2br

August 6, 2016, 11:51 am
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I currently live in a 2br with my landlord. He is moving out soon, and would like to deal with just one person for renting the whole unit. I like the place and would like to continue staying, and so am thinking about taking up the unit, and leasing out one of the bedrooms. The lessee will deal only with me (signing of lease, rental payment).

How does this work come tax time for the rental payments I receive (eg. 1k/month), which I then forward on to the landlord along with mine as one payment (eg. 2k/month)? I assume I would not be required to report it as income, given the cost sharing nature? How about if the lessee claims for the Ontario Trillium Benefit, who does s/he list as the landlord while filing taxes?

Thanks.

Statistics: Posted by CsG — Aug 6th, 2016 2:51 pm

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Personal Finance • The Official RFD thread for Savings Accounts! (Updated: 06/05/2016)

February 7, 2009, 7:46 am
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This is a thread where banks' savings interest rates are posted/updated. I know there is already a rfd article where all the interest rates are posted, but imo it is more of a comparison of bank features and interest rates and it's not updated daily. This thread will be updated right away if there is any interest drop/rise once I can access rfd. Anyone who wants to have a look at the article may do so here.

So let's get to it! (rates updated as of last edited date, order is from highest to lowest. Rate is assumed having $0.01 in the account.)

EQ Bank "Savings Plus Account" - 2.25% (RFD Thread)

Alterna Bank "High Interest eSavings Account" - 1.95% (RFD Thread)

Bridgewater Bank "Smart eSavings Account" - 1.75%

Oaken Financial "Savings Account" - 1.75%

Hubert's "Happy Savings Account" - 1.70% (RFD Thread)

AcceleRate Financial "AcceleRate Savings" - 1.70%

MAXA Financial "Regular Savings" - 1.70%

Implicity Financial "High Interest Savings Account" - 1.70%

Achieva "Daily Interest Savings" - 1.70% (RFD Thread)

Outlook Financial "High Interest Savings Account" - 1.70%

Zagbank "Zag Savings" - 1.65%

Crosstown Civic Credit Union "Premium Savings" - 1.65%

Steinbach Credit Union "Regular Savings" - 1.60% (1.65% > $100,000 and 1.70% > $250,000)

Meridian Credit Union "Good to Grow High Interest Savings Account" - 1.50%

FirstOntario Credit Union "High Interest eSavings" - 1.50% (1.60% balance > $100,000 and 1.70% balance > $200,000)

Canadian Direct Financial (CDF) "Keyrate Savings Account"- 1.50% (0.50% for amount over $1,500,000) (RFD Thread)

Zenbanx CAD "Savings" - 1.50% ($25 referral)

Peoples Trust "Peoples Choice e-Savings Account" - 1.45% (RFD Thread)

ICICI "HiSave Savings Account" - 1.35% ($20 bonus referral up to $520: 25 referrals and 1 time "referee")

CTFS "High Interest Savings" - 1.30%

DUCA "Earn More Savings Account" - 1.20%

Manulife Bank "Advantage Account" - 1.00% (2.50% until August 31st, 2016)

Canadian Western Bank (CWB) "Summit Savings Account"- 1.00% (0.50% for amount over $15,000,000)

1Q "Daily Investment Savings Account" - 0.90%

Community Trust "Maximizer Savings Account" - 0.85%

PCF "Interest Plus Savings Account" - 0.80% (1.75% for new accounts until July 31, 2016)

Tangerine "Savings Account" - 0.80% ($25 bonus referral, refer up to 50 people, bonus $$ per 10 referrals, max $2000, 2.40%/6 months for new accounts)

State Bank of India (SBI) "Super Saver Deposit Account" - 0.75%

NBC "Altamira High-Interest CashPerformer Account" - 0.75%

Desjardins "High Interest S@vings Account" - 0.75%

Royal Bank "High Interest eSavings" - 0.55%

Bank of Montreal "Smart Saver Account" - 0.45%

BMO Savings Builder Account - 0.25% (+1% bonus interest if you can increase account balance by $200 every month)

HSBC CAD "High Rate Savings" - 0.10% (0.40% > $25,000, 0.65% > $50,000 and 0.75% > $100,000)

HSBC "Advance Savings Account" - 0.10% (0.30% > $25,000, 0.45% > $50,000 and 0.50% > $100,000, Grandfathered)

Scotia "Savings Accelerator Account" - 0.05% (Balance over $5000 and less than $25000 - 0.90%, Balance over $25000 - 1.00%)

TD "Every Day Savings Account" - 0.05%

CIBC "Bonus Savings Account" - 0.05% (Balance over $3000 - entire balance 0.10%)

CIBC "eAdvantage Savings Account" - 0% (Balance over $5000 - entire balance 0.60%)

TD "High Interest Savings Account" - 0% (Balance over $5000 - entire balance 0.55%)

Scotia "Power Savings Account" - 0% (Balance over $5000 - entire balance 0.40%)

Please give me any suggestions on how to improve this thread, and no flames! Thanks :)

NOTE: This thread has been nominated as one of the most helpful threads in RFD. If you find this thread helpful, please vote it as the most helpful in its group by following the link on my sig! Please also vote for me as one of the most helpful/knowledgable user in its group! Let's have the power of the finance forum represent well in this year's RFD awards! Thank you very much! :) 2X thanks if you voted for me!

[EDIT] Voting is finished, thanks to everyone who voted for me :)

Statistics: Posted by angel_wing0 — Feb 7th, 2009 10:46 am

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Personal Finance • Pay Your Bills Online Using CANADIAN TIRE MASTER CARD & Earn Cash Back/CT $$$ !!!

March 5, 2012, 8:39 am
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I thought I would share this info in case others are not aware (I just found out) that you can pay your bills online using Canadian Tire Master Card & still be able to earn Cash Back or CT $$$ on the card just like a purchase :!: There is no fee to do this, I called & confirmed. Plus you don't have to pay right away as you do with your bank bill payments, the payment is due when your statement comes out :cheesygri

YMMV but so far I am able to pay all my usual bills like Property Taxes, Enbridge Gas, Hydro One, Water/Sewer Bill, etc. & most importantly MBNA MC!
This will add up to a lot of CT $$$ especially from property taxes & MBNA MC :twisted:
****EDIT March 3, 2015: MBNA & ALL other Credit Card bill payments NO longer work on this card****

Thanks a_1_a for pointing it out :D

Here is the link to Can. Tire MC bill payments https://www.ctfspayments.com/CTFS_Consu ... BillPay.do

List is Updated Regularly

https://docs.google.com/spreadsheet/ccc ... aNlE#gid=0

Old List:
https://docs.google.com/spreadsheet/ccc ... EX2c#gid=0

UPDATE: Some Fortis BC customers have attempted to pay their bills using "Fortis BC" as the payee and it hasn't worked,
because for whatever reason it requires an 11-digit number whereas Fortis account numbers have only 6 or 7 digits.
However, paying their Fortis bills using "Terasen Gas" as the payee has worked (Fortis acquired Terasen back in 2007)

_______________________________________________

Added this new info March 4, 2015 - Original link to post http://forums.redflagdeals.com/pay-your ... st21794509

I've posted the following before in the past, and have updated it now with the 0.8% rebate on the Options card (no longer 1%). It's info for people who are thinking of applying for a card, but not sure if they should get the Options vs Cash Advantage.

1. The no-fee CT MC credit cards are: Options, Cash Advantage (sorry, not familiar with the Gas Advantage).

2. Use the card to pay bills which you cannot otherwise charge to other higher-earning credit cards (tuition, property taxes, some utilities like gas, water, electricity).

3a. For the Cash Advantage MC, you get a credit to the card account on anniversary date, and earns:
0.25% on first $1500 = $3.75 *
0.50% on next $1500 = $7.50 *
1% on amounts $3K - $24K
1.5% on amounts above $24K
(earn double these rates at CT or Marks WW stores)

3b. For the Options MC, it's 0.8% (4% at CT or Marks WW stores) in CT money, and not tiered like above for Cash Advantage, so this is a better card for you if you shop at Cdn Tire regularly and don't anticipate on spending more than $9,500* annually.

*Example with $9500 non-CT annual spending:
Options -> $9,500 x 0.8% = $76
CashAdv -> (First $3000 tiered = $11.25) + (Next 6,500 x 1% = $65) = $9500 at $76.25

4. If you plan to shop a lot at Canadian Tire, then the Options Card is probably a better choice, vs the Cash Advantage.

5. You need to see if your property taxes, utilities, university tuition, etc., is in the payees list (see link to Google doc in the OP), and whether or not you can pay with a different higher earning credit card, WITHOUT surcharges tacked on top.

6. Toronto/Ottawa property taxes are NOT included. Vancouver, Edmonton, Calgary, Regina, Winnipeg, Windsor, London, Niagara Falls, Montreal and Halifax ARE.
There are some nearby cities/towns in the GTA which ARE listed. See this post:
http://forums.redflagdeals.com/pay-your ... st18463512

Statistics: Posted by patrob — Mar 5th, 2012 11:39 am

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Personal Finance • Chase Marriott Visa, FYF,50 K points+1 free night,no foreign transaction fee,

August 21, 2012, 7:20 pm
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go for this link to get 50K points :D : https://lp12.marriottpremier.ca/?JOBNUM=VMR1207059

regular link will get 30K points only https://www.marriottpremier.ca/


https://www.chase.com/online/canada/mar ... isa-en.htm

■50,000 Bonus Points after your first purchase
■1 Free Night Stay at a Category 1-4 location after account approval
■Together, that’s enough for up to 5 Free Nights at a Category 1 Hotel (or 4 free nights at a Category 2 hotel)
■No Foreign Currency Transaction Charges on international purchases in addition to the exchange rate
■5 points per $1 spent at over 3,500 participating Marriott locations
■2 points for every $1 spent on airline tickets purchased directly with the airline, and at car rental agencies & restaurants
■1 point per $1 spent on purchases elsewhere
■Achieve the next Elite membership level faster with 15 Nights Credit every year
■Receive one anniversary bonus free night stay at a Category 1-5 hotel every year just for having the card
■No charge for additional cards
■Plus, the Annual Fee is waived for the first year, then $120 thereafter

Thanks to Bizee-bee, these are the notes, as they seem to be asked over and over at the thread...

•All statements for the Chase Marriott Visa cards in Canada cycle on the 11th of each month, make sure you spend at least $1 by the 9th to get your first transaction posted in time. Then wait until the 18th or 19th of the month and check at Marriott.com to see the points posted.
•The initial Category 1-4 e-certificate is deposited to your Marriott.com account a couple of days after you're approved.
•There are no ONLINE statements available by Chase, only paper ones are delivered by postal mail.
•You must have some activity every 24 months or else Marriott Rewards points will expire.




HOTEL REWARD CATEGORIES

https://www.marriott.com/rewards/points ... e=Standard

https://www.marriott.com/rewards/points ... rtyList.mi

Statistics: Posted by ecgz88 — Aug 21st, 2012 10:20 pm

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Personal Finance • Jerry's List of Credit Cards with $200+ Welcome bonus/Aeroplan & AMEX Churning FAQ

August 8, 2016, 11:58 am
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I want to start a Summary of all GOOD Credit Card offers, so nobody has to look too hard :)

Ground Rules
- None of the links are Referral links, so please, don't post any referral links. Some deals are better only via referral links, so double check that
- GCR = www.GCR.ca, their links are blocked by RFD so please Google it. In general, RFD source code = CAqD7. GCR source code = NTrSD
- I'll try to update it monthly, it's work in progress, and I'll try to link to relevant RFD threads if possible
- Let me know any feedbacks or comments

Card-Related Comments
- They're GOOD in my opinion for the WELCOME bonuses (e.g. I should get at least $200+ value), not necessarily good for everyone or daily usage. It also means I will NOT list EVERY card out there (like AMEX SimplyCash or Scotia Momentum)
- You should have decent credit score (700+) and income ($60,000+)
- If you are "churning" the same card (cancel & re-apply), I recommend minimum waiting period of 6 months. I know some do it 3 months, but YMMV. Also, I also suggest holding the card at least 6 months (some say that's when it becomes R1 status in your Credit Report, which looks better than R0, but who knows)

No Fee, or First Year FREE (FYF) = cancel before renewal
  • AMEX Air Miles Platinum Credit Card - 2000 AM, after $500 spending. FYF, $65/year after. $15K personal income. $30 GCR cashback
    RFD Discussion
  • You have a personal annual income of $15,000 or more
  • .
  • .
  • AMEX Gold Rewards - 25,000 AMEX MR points after $1500 spending. FYF, $150/year after. $50 GCR Cashback
    RFD Discussion
  • You have an annual personal income or a combined spousal/partner income of $20,000 or more. 2X AMEX MR on Gas/Grocery/Travel/Drugstore
  • .
  • .
  • AMEX Business Gold - 40,000 AMEX MR points after $5000 spending within 3 months (30,000 points if you do NOT use a referral link). FYF, $250/year after.
    RFD Discussion
  • .
  • .
  • Chase Marriott VISA - 50,000 Marriott points after 1st purchase. $120/year, FYF. Get this for No FX Fee transactions (2.5% savings). English 50K link
    RFD Discussion
  • Minimum income $30K (??)
  • .
  • .
  • TD First Class Travel Visa Infinite 20K bonus (worth $100), another 20K if keeping account 90 days, FYF. $60 RFD cashback or $50 GCR cashback (SourceCode=NTrSD)
    RFD Discussion.
  • Have a minimum annual gross personal income of $60,000 or an annual gross household income of $100,000.
  • Offer Valid until September 2, 2016
  • .
  • .
  • TD Aeroplan Infinite VISA - 15K after 1st purchase, 5K after adding Authorized User/ $60 RFD cashback or $50 GCR cashback.
    RFD Discussion
  • ... 1.5X Aeroplan on gas, grocery and drugstore. $60,000 annual gross personal income or $100,000 annual household income
  • Expiry Sept 2, 2016

Has Annual Fee (You pay it for Points)
  • AMEX Personal Platinum - $699/year, 60K MR if using a referral link after $1000 spending in 3 months. $200 annual travel credit
  • You have an annual personal income of at least $40,000 or more.
  • .
  • .
  • AMEX Business Platinum - $399/year, 75K MR if using a referral link after $5000 spending in 3 months
    RFD Discussion
  • .
  • .
  • AMEX SPG Credit Card - $30 GCR cashback. 20K SPG points, $120 fee, after $500 spending.
    RFD Discussion
  • You have a personal annual income of $15,000 or more
  • .
  • .
  • MBNA Alaska Airlines MC - 25,000 Alaska miles upon 1st purchase (?). $75/year. $60 GCR cashback
  • My guess is World Elite card is $70,000 personal or a household income of $120,000. If you make less and got approved, they'll send the non-WE version
  • .
  • .
  • Capital One Aspire Travel World Elite MasterCard - 40000 points after $1000 purchase in 3 months. $150/year. $75 GCR cashback
    RFD Discussion
  • You meet the minimum requirement of either personal income of $70K OR household income of $120K


AMEX F.A.Q. and Referral Guide
As many have questions on AMEX, I've summarized the negative changes in the last 6 months
7/1/2015 change to T&C where welcome bonuses MAY NOT be given if you re-sign up the card you previously cancelled
For example
1. AMEX Personal Cards (Gold, Plat, SPG) T&C = For current or former American Express® Gold Rewards Cardmembers, we may approve your application, but you will not be eligible for the welcome bonus
2. AMEX Business Gold T&C - so far, no such conditions YET

Referral Guide as of today (May 26, 2016).
All referral bonuses are based on the card you referred FROM, not the card applicant applied
  • Personal Platinum >TO> any Amex MR card = 15K referral bonus (25K since 3/23/2016, back to 15K after 6/29/2016)
  • Business Platinum >TO> any Amex MR card = 25K referral bonus (25K since 3/23/2016)
  • Business Gold >TO> any Amex MR card = 10K referral bonus
  • Personal Gold >TO> any Amex MR card = 5K referral bonus (new rule from 1/11, 2016 was 0 referral bonus; 5/19 changed to 5K referral bonus)
  • All welcome bonuses remain unchanged, whether you used one's referral link or RFD/GCR's link
  • Cards with better offers ONLY VIA REFERRAL LINKS = Platinum (75K) and Business Gold (40K)
  • It's easy to calculate yourself how to maximize self-referrals



Other Notes
  1. There are NO CROSS-Card-Type referrals between different types, such as AMEX MR, Aeroplan, Air Miles, SPG, SimplyCash - so you're best to apply via GCR or via a referral link to maximize return
  2. AMEX Cards are CHARGE cards unless stated otherwise. CHARGE = AMEX MR cards, Aeroplan* cards / CREDIT = SPG, Air Miles, SimplyCash
  3. One can have max. of 2 AMEX CREDIT cards plus 5+ AMEX CHARGE cards
  4. Premium cards (like Platinum*) arrive in 3-5 business days or faster; others take 7-10 business days
  5. When will you see the points/miles posted AFTER crossing the minimum spending threshold? For AMEX MR cards, it ranges from NEXT DAY to 8-10 weeks officially. For other cards (SPG/Air Miles/Aeroplan), it'll come on the NEXT monthly statement


How To Reach $500-$5000 minimum spending?
- GIFT CARDS: Gas/Grocery/Pharmacy/Electronic/Amazon
- Pre-pay your bills (Phone/Internet/Utilities/whatever)
- Worst case, use Plastiq.ca to pay things you couldn't pay with AMEX (like property tax, CRA, etc...) for about 2% fee
- or PayPal yourself/friends (2.5% fee?)

How To Refer to a DIFFERENT card?
- Referrer: Copy the link or send to yourself
- Applicant: Go to the link in new window
- Bottom-left corner, choose a DIFFERENT card. It says "Apply for a different card that is part of this referral program "
- Note: you can still only earn referral bonus WITHIN the same card type. AMEX MR -> AMEX MR, SPG -> SPG, and so on. No referral bonus for cross-card-type, like AMEX MR -> SPG


AMEX Referral Footnotes T&C (from Platinum card)

CODE: 

Your account must be in good standing. If this is a personal referral, you agree to only make recommendations to known friends and family members with whom you have a relationship and who have confirmed to you that they want to receive this communication. If this is a referral in the context of your business, you agree to only make recommendations to business contacts who you know and who have consented to receive this recommendation from you. You must not send recommendations to people you do not know. You can only receive a [B]maximum referral bonus of 225,000 Membership Rewards points per calendar year for approved referrals[/B]. Bonus point maximums may change at any time and if you change card products. Should the referral bonus amount change during the calendar year, you may receive a partial bonus depending on the available maximum bonus points. You are not eligible to receive this referral bonus offer if you have already reached your maximum annual referral bonus limit. The referral bonus will be awarded to you based on each eligible referral for which American Express receives an application that is subsequently approved, subject to all applicable terms and conditions. Due to the confidential nature of the approval process, you will not be notified when applications are approved or declined and any individual you have referred must agree to allow your account to be bonused upon approval or you will not receive the referral bonus. If our records indicate that any person you have referred has opted not to receive e-mails from us, your referral will not be sent and you will not receive the referral bonus offered as part of this program. Referral program varies by product and may be modified, suspended, cancelled or otherwise terminated without notice. Cannot be combined with any other offer. If the people that you refer have already applied for the product that you are referring without participating in this program, neither you nor they will be eligible for any referral bonus that may be offered as part of this program. Likewise, if the people you refer decide to apply for a Card through this referral program other than the one you have specifically recommended, the referral bonus for which you and they may be eligible will vary. Referral program participants should allow 8 to 10 weeks for the award of the referral bonus once program criteria have been met and must be enrolled in the corresponding loyalty program (if applicable) when the referral bonus is awarded. All products and services are subject to applicable Terms and Conditions.

Good for Travel (In my opinion)
  • AMEX Gold
  • BMO World Elite
  • TD First Class Travel
  • AMEX Platinum - for its lounge benefits

Aeroplan 101
For anyone who needs some help on Aeroplan, please read below links as a start
FAQ: How to Save Money/YQ on Aeroplan Europe/Asia redemptions - FlyerTalk Forums
What Is An Aeroplan Mile REALLY Worth? | HowToSaveMoney.ca

8/12/2015 - added RS's article on CC Churning
Churning Credit Cards: The Pros and Cons - MoneyWise

Statistics: Posted by jerryhung — Feb 27th, 2015 3:51 pm

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Personal Finance • [Plastiq] Pay any bill with credit card for 0%-2.5% fee

August 9, 2016, 5:16 pm
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I'm sure a lot of people already know about this, but it comes up often enough on different threads I thought it deserved its own home (and I couldn't find a thread covering it).

Plastiq.com lets you pay practically ANY bill with your credit card. The fees are advertised as 2.5% but they are actually often lower for payees that have registered with Plastiq and made arrangements for electronic payment.

The fee can also vary per card family (Visa/MasterCard/Amex).

Normally you wouldn't want to pay a bill with your credit card just to pay a fee for that privilege, but if your card pays you back more than the fee, it's worth it. For example, I value the SPG Amex earn rate at 3-4%, so even 2.5% is a positive benefit for me (*if* I need points and want to "buy" them at 2.5c per point or less I can do that by using Plastiq on some bills I wouldn't normally otherwise be able to pay with a CC, like Hydro & Gas).
Another use case is if you have a credit card signup bonus with a large minimum spend you have to hit -- it can be worth it to pay a small fee to unlock a bonus worth $300 or $500 or whatever the case may be.

So anyways, perhaps we can aggregate a reference list here of the various fees for each payee so people who haven't signed up yet can better see how it may be beneficial for them to use.

I'll start with what I know ... we can expand this table with contributions:

EDIT: Thanks to the "new and improved RFD" this table is horribly broken :( ... hopefully it fixes itself or the add a new way to do tables again soon?

[table="width: 600"]

[tr]

[td]Payee[/td]

[td]Sent electronically?[/td]

[td]MasterCard[/td]

[td]Visa[/td]

[td]American Express[/td]



[/tr]

[tr]

[td]Default not pre-existing payee
(e.g. mailed cheque)[/td]

[td]NO[/td]

[td]2.25%[/td]

[td]2.25% 2.50%[/td]

[td]2.50%
(src: [OP])[/td]

[/tr]

[tr]

[td]BC Hydro[/td]

[td]YES[/td]

[td]1.50%[/td]

[td]1.75%[/td]

[td]2.25% 2.50%
(src: [OP])[/td]

[/tr]

[tr]

[td]FortisBC[/td]

[td]YES[/td]

[td]2.25%[/td]

[td]2.25% 2.50%[/td]

[td]2.50%
(src: [OP])[/td]

[/tr]

[tr]

[td]Metro Vancouver area Property Taxes[/td]

[td]YES[/td]

[td]2.25%[/td]

[td]2.50%[/td]

[td]2.50%
(src: [OP])[/td]

[/tr]

[tr]

[td]Hydro Quebec[/td]

[td]YES[/td]

[td]1.50%
(src: Flitox)[/td]

[td]?[/td]

[td]?[/td]

[/tr]


[tr]

[td]CRA (taxes)[/td]

[td]YES[/td]

[td]1.74%[/td]

[td]1.99%[/td]

[td]2.50%
(src: blitzkrieg)[/td]

[/tr]

[tr]

[td]OSAP[/td]

[td]YES[/td]

[td]1.74%
(src:Troydabes)[/td]
[td]?[/td]
[td]?[/td]
[/tr]

[/table]

You CAN also get 0% fees if you have earned "fee-free dollars" (FFDs). How those work is, e.g. if you have $200 FFDs you can pay a $200 bill and avoid the fees on that $200 (max $5 savings at 2.5% fee).

If you have a friend with Plastiq, ask them to refer you***. This is what I did:

Recommended steps to get $800 fee-free dollars of payments (save $20 in fees):
1) I got referred and got $200 FFDs. You need to pay a minimum $20 bill to unlock the FFDs so I chose the lowest fee 1.5% MC BC Hydro on my 2% back Cap1 card. You may need to wait a day to see the FFDs get posted.
2) Then I referred my spouse and she got $200 more in addition to $400 for myself for referring her (repeat $20 bill pay to unlock FFDs on 2nd account)
So $800 combined. That saved us up to $20 in fees on future bill payments (Fortis BC and Property Taxes partially paid to use up these FFDs)

***
DISCLAIMER / PRIVACY WARNING
DO NOT ASK FOR REFERRALS ON THE RFD FORUMS - it's against the rules.
(Besides, it's only $5 in fees max you save for a $200 FFD referral)
Also NOTE: If you value your anonymity, your referer gets an email saying you signed up and that includes your full name. So let's just not spam this thread with referral requests but just try to add some data points on how it works, what the fees are, and answer any common questions.
***

Statistics: Posted by ace604 — Jul 10th, 2016 6:57 pm

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Personal Finance • Credi Card chargeback dispute denied

July 18, 2016, 7:28 am
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I ordered a pair of soccer goalie pants from an Amazon 3rd party seller which seemed fine, but there was a rip that developed after one use and wash...the washing instructions said machine wash cold and I followed them.

I contacted the 3rd party seller and Amazon and they wouldn't accept my return and refund request as they said it was used and therefore not defective. They contacted the OEM for me and said that I apparently did not follow washing instructions that they would refuse my warranty claim.

Contacted the OEM and they confirmed to me that Amazon 3rd party seller did not contact them about a warranty claim. OEM says they can't do anything as they are not an official retailer of the soccer pants.

Then I contacted the CC to initiate a chargeback. 14 days later they call me back saying they cannot dispute the charge because I received the pants in good condition by using them.

I am extremely frustrated as I shouldn't be out close to $100 because of poor quality product. Was the CC right to refuse my chargeback? Who should I be taking this issue up with?

Statistics: Posted by keano — Jul 18th, 2016 10:28 am

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Personal Finance • Cash out and move from Vancouver to Coquitlam?

August 2, 2016, 2:39 pm
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How many of you would cash out of Vancouver and move further out of Vancouver proper? Our house is paid off and assessment sits at 1.5 but in this crazy market it would easily sell for over 2.

I'm a stay at home dad with 2 kids and another on the way, wife works full time - her choice for me to stay home. We live comfortably on her 60k salary plus CCB and was considering cashing out our home to take life a little slower.

If we sell for 2 millionish and buy another house for 1 million the wife might not return to work and look for a new job closer to where we would move to.

Anyone here cash out of Vancouver and move away? Would love some thoughts on this since most of my friends are just getting into the market and have no input for me.

Thanks

Statistics: Posted by VancityAcura — Aug 2nd, 2016 5:39 pm

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Personal Finance • How much are you saving for retirement??

August 2, 2016, 9:42 pm
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What are your current objectives to reach retirement? Rentals, RRSP,TFSA,non-reg.

How old are you? How much do you contribute? What % of your income is that?

Anything you would like to share

Statistics: Posted by nikels21 — Aug 3rd, 2016 12:42 am

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Personal Finance • Options for BUSINESS bank account?

August 4, 2016, 8:19 pm
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Got a letter from my bank (BMO) saying they're changing accounts as of September 1.
As far as I can tell.. it means my fees will no longer be waived, and I'll be charged for each and every transaction.

So it's time to switch.

Current account has I think 15 free transactions and a monthly fee waived with minimum balance of $4000.
Is there anything similar from other banks? I don't want to pay any fees.

Statistics: Posted by TheImp — Aug 4th, 2016 11:19 pm

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Personal Finance • Canada Savings Bonds Calculator

August 8, 2016, 1:47 pm
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Does anyone know if there's an online link to calculate the value of a Canada Savings Bonds?

Statistics: Posted by jdu0ng — Aug 8th, 2016 4:47 pm

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Personal Finance • NSF despite having funds?

August 8, 2016, 7:57 pm
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Can't explain that. Thanks PCF.
Screen Shot 2016-08-09 at 12.25.10 AM.png

Statistics: Posted by HBP — Aug 8th, 2016 10:57 pm

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Personal Finance • There is someone with $2M in RESP!

August 9, 2016, 7:42 am
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While a lot of families are struggling to save for their kids education, there is one family in unique situation: How to spend the $2 million in their only son's RESP account?

https://www.thestar.com/business/2016/0 ... -pape.html

Eighteen years ago, a young couple set up a Registered Education Savings Plan for their newborn son. Over the next four years, they invested a total of $10,000.

Both of them worked for a start-up technology company that was publicly traded. They had faith in the future of the business so they invested all their contributions in shares of the firm. The average cost of the stock over the period was $0.18 per share.The software developed by the company turned out to be highly successful and the stock soared. The firm was eventually taken over and the RESP received shares of the acquiring company in exchange for the original stock. Today the plan is worth well over two million dollars.

The son will start university at an Ivy League school this fall. He’ll fly business class to the city, live off-campus in a luxury apartment, do his homework on a top-of-the-line computer, and have a generous allowance for books, school supplies, campus activities, and more. After he earns his degree, he plans to go on for a master’s, perhaps at Oxford or Cambridge.

He can do this because RESP rules do not place any limit on which universities students may attend or the level of degrees they may attain. Educational assistance payments (EAPs) may be used at any qualified school in the world, provided the plan beneficiary is enrolled on a full-time basis for not less than 13 consecutive weeks.

Getting back to our wealthy student, his parents are encouraging him to spend as much of the money in the RESP as he can because they have no other children who can benefit from it. He has to pay tax on any EAP withdrawals but it will be at a rate much less than his parents pay. (Average tuition at Harvard for the 2016-17 academic year is US$59,550).

Any money that is left in the plan after he obtains his final degree will be subject to tax at a rate that many would consider usurious – the parents’ marginal tax rate plus a 20 per cent penalty. In Ontario, that would work out to a maximum rate of 73.53 per cent this year.

Of course, these people are in an incredibly fortunate position. Very few parents will see their RESPs grow to anything like this amount. But even people with much smaller plans can still be hit with a huge tax bill if the beneficiaries don’t go on to post-secondary education.

Consider a family with two children that opened a plan years ago to send both youngsters to college. Both parents contributed, so they were the plan’s subscribers. The family budget was tight but they scrimped and saved. The mutual funds they purchased did well and the plan was boosted by the Canada Education Savings Grant, which provides a maximum lifetime contribution of $7,200 per child.

Unfortunately, neither child went on to college. The son dropped out of high school after grade 10 while the daughter chose to go to work and earn money as soon as she received her high school diploma. The parents were left with an RESP worth $95,000 with no one to spend it on.

They were allowed to withdraw their original contributions tax-free, which was only reasonable since they had been paid with after-tax dollars. After that, they ran into problems.

First, all the government grants they received over the years had to be repaid. The money that remained after that could be withdrawn as an accumulated income payment (AIP).

AIP payments are subject to two different rates – the regular marginal rate plus the 20 per cent penalty mentioned earlier (12 per cent for Quebec residents). The unfortunate patents were shocked when the saw the potential tax bill and tried to figure out a way around it.

There is one possibility. If the plan subscriber has RRSP contribution room available, he/she could transfer the remaining cash in the plan directly to the retirement account. Of course, it will be taxed when the money is withdrawn from the RRSP but at the taxpayer’s marginal rate, with no penalty. The lifetime limit on this kind of transfer is $50,000 per subscriber.

But what if the RRSP has been maxed out? If the subscriber is still earning income, the solution is to stop any more contributions to the retirement plan and wait a few years before winding up the RESP. That should provide the room needed for the transfer.

Statistics: Posted by bramptonmt — Aug 9th, 2016 10:42 am

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Personal Finance • CIBC - Credit Card Hold

August 9, 2016, 8:53 am
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Last Thursday, I did a $10,000 bill payment from Scotiabank to clear a balance transfer on my CIBC credit card. Despite, receiving payment and posting payment to my credit card ( I can see payment posted online ), they have informed me ( I called them) that a hold remains on my credit card's available credit until they have received the funds from Scotiabank ( 3 to 5 business days).

I've never seen this before. Usually, the instant a payment posts, the available credit updates accordingly. Has anybody else experienced this with CIBC? It seems very odd to me and has left me wondering if they've decided to lower the limit. I've never been late or come even close to missing a payment, however I have had high balances ( all cleared now. )

Statistics: Posted by bewiseman — Aug 9th, 2016 11:53 am

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Personal Finance • Opening HSBC bank account

August 9, 2016, 12:14 pm
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Does anyone know the policies to opening an hsbc bank account in Ontario? I've had to claim bankrupt and am currently still undischarged yet but will soon. As I am allowed to attempt to rebuilt credit now and I've tried all 5 big banks and they won't help. I've contacted hsbc and they said theyd help with a Mastercard but if that's the case I want all my banking there and they were unsure and told me to go in but I'd have to travel for the nearest hsbc bank which I'm willing if they will.

Any information would be helpful.

Statistics: Posted by illusionoffire — Aug 9th, 2016 3:14 pm

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Personal Finance • Online purchase no credit card

August 9, 2016, 3:43 pm
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Hello!

So I was wondering is there a way to purchase from amazon.ca without credit card/paypal? I have cash only. Is there somewhere that I can buy the physical gift card of Amazon.ca from somewhere in Toronto?

Statistics: Posted by bucklemyshoe — Aug 9th, 2016 6:43 pm

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Personal Finance • Prepaid Credit Cards (Continuously Updated)

August 10, 2016, 4:03 pm
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This thread is updated regularly
Last Update: August 10, 2016

I noticed there have been people hunting prepaid credit/gift cards so I put into a list as below that are offered to Canadians. This thread is about prepaid Visa/Mastercard/AMEX brand card and not about secured credit card. While they are similar in nature, secured cards do affect credit score ratings whereas prepaid ones don't.

The Financial Consumer Agency of Canada published a useful guide where you will find more info about the card products.
http://www.fcac-acfc.gc.ca/Eng/resource ... scarte.pdf

The only prepaid cards that are embossed (ie. with numbers raised on the card) are the BMO Travel Mosaik Mastercard, Desjardins Visa Card (QC/ON only) & RBC Visa Gift Card. All other cards are 'flat', only for electronic authorization only

You can now find Prepaid Cards at:

Non-Reloadable ones No ID required except RBC/VanCity [YMMV].Reloadable Ones ID Required by law.US Dollars/Euro/British Pound card
    See Cash Passport Mastercard above.
Corporate Incentives - only available as bulk order

Statistics: Posted by cahk — Dec 27th, 2007 7:23 pm

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