There’s no denying that last summer’s CMHC mortgage rule changes have had a profound impact on some buyer segments. However, the latest report released by the Canadian Association of Accredited Mortgage Professionals (CAAMP) indicates the ripple effect of stunted affordability will be felt at various economic levels.

A Widespread Slowdown for Starts

Titled Change in the Canadian Mortgage Market, the annual Spring report, which was compiled by Maritz Research Canada, shows decrease in buyer demand has led to major delays and cancellations in the new housing industry. Starts are down 15 per cent nationally compared to pre-rule change conditions, and are anticipated to drop 25 to 30 per cent by 2015. Among the hardest hit are the condo markets in urban centres, traditionally supported by a first time buyer segment that may be taking longer to afford home ownership.

Stalling Canada’s Economic Engine

The report states that such a downturn poses a threat to Canada’s overall economy, as the housing industry is a main support for recession recovery. The report projects 150,000 job losses by 2015 as a result of limited starts, in industries ranging from construction, sales and financing to landscaping, movers and renovators.

Jim Murphy, president and CEO of CAAMP, stated in a release that slowing activity may have long term consequences. “What is cause for concern is that the housing market, an important engine of growth for the Canadian economy, is slowing to such an extent that without any change, it could take another five years to recover,” he says.

The Amortization-Averse Consumer

The silver lining to CAAMP’s report is a positive uptick in consumer debt responsibility. It was found that while current homeowners are mainly comfortable with carrying mortgage debt, most plan to repay it early, with an expected average amortization period of 21.6 years. As well, 80 per cent of homebuyers are looking to avoid a lengthy payoff period, with an original amortization of no more than 25 years.

“The CAAMP survey demonstrates that Canadians with mortgages are managing debt responsibly, negotiating low interest rates and paying down their mortgage faster than required,” states Murphy.

According to the report, 18 per cent, or 1.1 million homebuyers took further measures to pay their home off faster with increased or rapid mortgage payments, and 16 per cent (975,000) made a lump sum payment over the last year, effectively shaving interest and the overall payment timeline.

Buyers Are Locking In

The report also shows that with such low mortgage rates becoming more commonplace, home buyers are more likely to demand rock bottom financing – and they’re locking in when they find a great deal. Sixty nine per cent of home buyers chose a fixed rate mortgage, and the average mortgage rate dropped from 3.64 per cent to 3.52 per cent.

It’s no surprise consumers are shifting their preference to fixed options – data from RatePulse, our monthly mortgage digest, shows that as of May 2013, the spread between the lowest fixed and variable rates is only 14 basis points – compared to 149 basis points five years ago!

To learn more about how the Canadian housing market has changed, check out our latest infographic: 5 Years of Mortgages.

RateSupermarket.ca Week in Review

The post Spotlight on Mortgages: May 24, 2013 appeared first on RateSupermarket.ca Blog.

Wish there was a way to take flight with rewards points, but not a fan of using your credit card on everyday purchases? Fortunately, there’s a new option available to travel hungry banking customers – a chequing account that earns AIR MILES reward miles with every use.

Sign Up For Soaring Rewards

The BMO® AIR MILES® Bank Plan is the only chequing account in Canada that offers AIR MILES, and comes with a sweet sign up bonus – 1,000 AIR MILES right off the bat (considerably better than the usual free cheque book banks dole out to new customers). Best part – those are enough miles to take a short haul (within the same province) flight!

To access these sign up rewards, new chequing clients need only make a $30 purchase within the first 60 days of card use.

Earning Potential? Check.

In addition to collecting 1,000 AIR MILES off the bat, using your debit card on purchases will earn 1 mile for every $30 spent. You’ll also receive 50 AIR MILES per month for balances that remain over $3,000.

Are Chequing Rewards For You?

While regular credit card use can effectively earn rewards and points quickly, the “charge it now, pay it later” approach only works for those disciplined enough to not let purchases linger and accumulate interest. For those not as dedicated to promptly paying their balances, sticking to a cash diet is more financially responsible, and avoids the risk of accumulating debt.

Chequing Account Features

Keep in mind that while this debit card comes free of daily transaction limits, it does have an annual fee of $13.95, which can offset some of the rewards earned over time.

The Big Numbers:

Transactions: Unlimited

Annual Fee: $13.95

Reward Return: 1 AIR MILE per $30 spent

Get This Special Offer

You can score the BMO AIR MILES chequing account, along with other great offers, in our 5 Year Anniversary Deal section!

The post Chequing Account Rewards Reach New Heights: BMO AIR MILES appeared first on RateSupermarket.ca Blog.

When current Bank of Canada Governor Mark Carney steps down on June 1 to lead the Bank of England,  Stephen Poloz will take the reins of our economic engine. Poloz was a surprise choice to replace the outgoing governor. Although well known in Ottawa, he’s not as widely heard of outside the capital. Some criticize this could work against him as he tries to navigate Canada out of the worse economic slowdown experienced in a generation.

It can be argued that Carney leaves large shoes to fill; his economic and monetary policy is credited with aiding Canada through the financial crisis relatively unscathed. Let’s take a look at what Poloz’s next steps may be.

What Is Poloz’s Background?

Poloz is leaving his job as the president and Chief executive officer of Export Development Canada (EDC) to take the top job at the BoC. He has more than 30 years experience in the private and public sector, including 14 years previous experience with the Bank of Canada during the 1980’s and early 1990’s. Poloz holds a Ph.D as well as an M.A. in economics from Western University, and a B.A. with honours in economics from Queen’s University. He’s a graduate of Columbia University’s Senior Executive Program, and is a Certified International Trade Professional. He’s originally from Oshawa, but now lives in Ottawa. He has two kids and is a grandfather.

How Will he Change the Direction of the BoC?

He probably won’t. By the looks of it,  Poloz’s views seem in line with Carney’s policy to keep rates low and proceed with cautious optimism. While the goal is for rates to return to normal levels, both are well aware that raising rates too fast and too soon could result in higher unemployment and unaffordable living conditions for many everyday Canadians.

What Does Canada’s Economy Need?

Poloz has a long, hard road ahead of him. The recession that shook the world in 2008 continues in the form of the EU debt crisis, the U.S. real estate market continues to stall and the cost of living remains high. These are the facts that Poloz has to take in stride. Interest rates remain near record lows, in turn pushing debt levels higher as Canadian consumers scramble for cheap money, choosing to borrow instead of save.

The Challenges to Come

The new Bank of Canada governor has to walk the fine line of eventually raising rates while simultaneously keeping the economic engine moving, and remaining attractive to foreign investors; if rates are too high they won’t be interested. He also has to encourage Canadians to save more and spend less – a message that has largely been ignored thus far, as household income to debt ratios reach toxic levels.

What Should Canadians Do?

Canadians looking to gauge the next steps for the economy should watch Poloz’s initial steps closely. He is already feeling the pressure of raising rates – the C.D. Howe Institute has recommended that he start increasing them as soon as possible.

In the meantime, it’s important to remain diligent about debt payoff, especially higher interest debt, and resist the temptation to take on more.

The post Stephen Poloz: The New Bank of Canada Governor appeared first on RateSupermarket.ca Blog.

Infographic: RateSupermarket.ca releases 5 years of mortgage insights

Toronto, ON – May 23, 2013: From game changing affordability rules to record low mortgage rates, it has certainly been a tumultuous 5 years for home buyers in Canada. Just how much has the landscape of Canadian housing changed? To commemorate their 5-year anniversary, RateSupermarket.ca has compiled a snapshot of the Canadian mortgage market between 2008 and 2013.

The 5 Years of Mortgages infographic breaks down the most impactful mortgage milestones, and the resulting climate for today’s home buyers. The analysis includes data collected by RateSupermarket.ca’s RatePulse, the monthly mortgage digest.

The infographic can be viewed here, and includes insight on the following market trends:

• A history of record low 5-year mortgage rates

• Changing consumer rate preferences

• How mortgage rule changes have affected Canadian home buyers and the market as a whole

“As Canada’s most comprehensive financial rates comparison site, we strive to provide consumers with tools, resources and insight to Canadian personal finance products,” says RateSupermarket.ca President Kelvin Mangaroo. “This historical data and market trend information can be of great use to consumers looking to understand mortgage markets.”

To celebrate 5 years of service, RateSupermarket.ca is also offering a collection of special finance product rate offers, available until May 31, at http://www.ratesupermarket.ca/deals/5year/.

About RateSupermarket.ca (www.ratesupermarket.ca)

Over 3 Million Canadians have found their best rate for personal finance products on RateSupermarket.ca. Launched in 2008, RateSupermarket.ca is Canada’s largest and most comprehensive rate comparison site, offering visitors transparent access to the best mortgage rates as well as credit cards, bank accounts, insurance quotes and GIC rates.

The post Now and Then: Understanding a Changing Canadian Mortgage Market appeared first on RateSupermarket.ca Blog.

There’s no doubt; children are expensive, but rewarding. There are a number of ways to plan ahead of time, though, to keep your finances on track. For one, if you fall into a lower tax bracket and extra money is a struggle, you could always take advantage of some of the government income assistance programs available to families with children. If you have money to spare, it’s never to soon to plan for your child’s education. Here are a few resources and investments for your child that can lend a helping hand in preparing for their financial future.

Government Income Assistance Programs for Families with Children 

The Government of Canada provides financial assistance to low income families through a number of programs. Take a look at these three programs and click on the link to see if you qualify.

Canada Child Tax Benefit
: The Canada Child Tax Benefit (CCTB) is a tax-free monthly payment made to eligible families. The purpose of CCTB is to help families with the cost of raising children under the age of 18.

Employment Insurance Maternity and Parental Benefits
: If you are pregnant, recently given birth, are adopting a child, or are caring for a newborn, Employment Insurance (EI) can provide you with maternity and parental benefits.

Universal Child Care Benefit: To help cover the costs of childcare, the Universal Child Care Benefit (UCCB) program issues a taxable $100 monthly payment to families for each child under the age of six.

Planning For Your Child’s Education 

Now, more so than ever, parents are realizing the importance of post-secondary education. According to the 2006 Census, Canadians with a university degree earned an average annual income of $50,048, while those with a high school diploma earned an average of $37,403. Nowadays, it’s estimated that two out of every three jobs requires some sort of post-secondary education, whether it be college or university. But that education isn’t cheap. The average annual undergraduate university tuition for a full-time student was $4,917. And that cost doesn’t include housing, books, transportation, or food.

Choosing an RESP

In order to put your child on the right path, you can start saving now using an RESP or Registered Education Savings Plan. When you use this type of special savings account your money can grow quite quickly, especially since Canada Education Savings Grants and the Canada Learning Bond are offered exclusively to RESP contributors. 

Opening an RESP is pretty straightforward. You’ll need to provide your Social Insurance Number (SIN) to an RESP Provider; most financial institutions offer RESPs.

When your child is old enough and has been registered with a qualifying educational institution they are then eligible to receive payments from the RESP you set up for them. There are some stipulations that must be met, though. For instance, in order to qualify, the course your child chooses must last at least three consecutive weeks, with a total minimum of 10 hours of work or instruction per week.

In the event that your child chooses not to go on to post-secondary education after high school, you will not be taxed on the amount you contributed to the RESP. However, you will have to pay taxes on any interest earned.

Save Sooner Rather Than Later

I know it seems like a long way off, but ask any parent – they grow up quick. Before you know it, they’ll be off to college or university and you’ll wonder where the time went. Help them make the most of their young lives by giving them a head start.

The post 6 Tips: Resources and Investments For Your Child appeared first on RateSupermarket.ca Blog.

Looks like Canadians are set on homeownership, despite additional proposed mortgage rule changes that could further limit affordability. The BMO Housing Confidence Report states that a full 46 per cent are looking to buy property over the next five years.

As well, about half of current homeowners are looking to upgrade their abode over the same time frame. This confidence points to last summer’s amortization and housing affordability changes having less of a cooling impact than anticipated, as buyers may be overcoming the financial struggle of shorter payback timelines.

The Amortization Effect

It can’t be denied that previous mortgage rule changes have taken a toll on the Canadian housing market. Cutting the maximum amortization length for high-ratio buyers to 25 years put ownership out of reach for some buyers, and the resulting market slowdown had some economists calling for a crash. Now that the dust has somewhat settled, a rosier market outlook has emerged.

Jim Tourloukis, President of Advent Mortgage Services, says the benefits will become clearer over time. “In the short-term, the impact can be viewed as negative,” he says.  “However, I believe that this will in fact help stabilize the market over the long run.  Without the changes, the imbalance of the (market) supply/demand would have continued until the market imploded.  This would have hurt the entire economy.”

He adds that the latest round of OSFI’s proposed changes, which would limit amortizations for low-ratio mortgage owners as well, will have less of a ripple effect due to a smaller affected group – according to a Martiz survey conducted for CAAMP, only six per cent of mortgages taken out last year have an amortization length longer than 30 years. “I believe the impact of these further changes will be small,” Tourloukis says.  “It will cause a smaller shock than previous changes and it will impact less consumers.”

Are We Putting a Dent in Our Debt?

These mortgage rules were put in place for two main purposes – to discourage would-be buyers who can’t truly afford homeownership, and decrease the amount of household debt carried by Canadians. A recent Genworth Canada Homeownership study found that buyers took this caution to heart, and shifted their focus to growing their down payments and avoid high-ratio financing. However, record low mortgage rates may still be fueling homeownership enthusiasm, and leading to some overextended buyers.

Home Ownership is Not For Everyone

Tourloukis believes that when it comes to stemming household debt, mortgage restrictions aren’t the answer. “If the government wants to curb household debt, they should look beyond the mortgage market,” he says. “Other consumer debt (credit cards, unsecured Line of Credit, loans, car loans,etc.) continue to grow as a proportion of total debt yet the government has not looked at this sector.

“Home ownership is not for everyone. People must live within their means,” he adds. “If that means renting in Mississauga rather than downtown Toronto, then so be it.  People must realize that home ownership is a privilege not a right!”

The post Half of Canadians To Buy Despite Tough Housing Affordability appeared first on RateSupermarket.ca Blog.

It’s often said that parting is such sweet sorrow. Bank of Canada Governor Mark Carney gave his long anticipated parting speech yesterday. It was his final scheduled public appearance before taking over at the helm at the Bank of England, the second largest in the world. Although Carney is leaving before his seven-year term is up, he helped lead Canada through the worst recession since the Great Depression; incoming governor Stephen Poloz certainly has some big shoes to fill. In his last address, Carney wasn’t shy about the challenges facing Canada on the way back to economic prosperity.

Beware a Decade of Stagnation

If the financial crash of 2008 has taught us anything, it’s that the world’s economies are closely intertwined. While the subprime mortgage fiasco played out on Wall Street, Europe was plunged into a recession with no end in sight. Although our biggest trading partner remains the United States, Europe’s recession has a ripple effect on the Canadian economy as well.

“Without sustained and significant reforms, a decade of stagnation threatens,” Carney warned in his address. “Europe can draw lessons from Japan on the dangers of half measures.” Europe is at a standstill right now, deciding whether stimulus or austerity is the solution to its economic woes.

Canada Must Take a Stance

According to Carney, Canada has two options: we can hunker down and wait for the drawn out repair process to take effect in the remaining G7 economies, or shift the focus to building on our own economic strengths and moving forward in a new global economy. Canada has often been criticized for its reliance on the U.S. economy, and Carney has been a longtime proponent of economic diversification. According to him, if Canada wants to escape its trap of anemic, sub-two per cent GDP growth, it needs to form new trade agreements with faster growing economics likes China and Asia, which represent one half of the world’s imports growth.

We Still Have a Long Way to Go

Although the Canadian economy has recovered somewhat to pre-recession levels, Carney says there is still far to go. Although we were not as hard hit as other G7 countries, we could have better weathered the strorm. Carney points to the lagging export sector, as exports are $130 billion less than they should be following prior postwar recessions. Canada has been hurt by its strong currency; although a strong Loonie is favourable for Canadians travelling aboard, it has an adverse effect on our export sector.

Despite sub-two per cent GDP growth, though, the Canadian economy hasn’t been all doom and gloom. In addition to performing relatively well compared to other G7 countries. Carney noted that Canada’s GDP levels returned to pre-recession conditions at the start of 2011.

An Improving Job Market

The Canadian job market is showing promise of recovery. Carney noted there are 480,000 more Canadians working than when the economic crash first happened six years ago.  Alberta and the oil sands continue to be the engine behind Canada’s economic growth. “Canadians are going where the jobs are,” Carney said. “Last year, there was a net inflow of more than 40,000 people into Alberta from the rest of Canada, a level of mobility that approaches its previous peak.” However, with the price of oil falling, it remains to be seen how Alberta will fare over the next decade.

 A Strong Bank Base

Carney concluded his speech by praising Canada’s rock solid banking sector and emphasizing the importance of businesses investing in their workforce. “In a rapidly shifting world, only sustained education, ingenuity and investment can maintain competitiveness,” he said. “This means we must continuously invest in our workforce. With technology and trade transforming the workplace, the need to improve skills across the spectrum of work has never been greater.”

The post BoC Governor Mark Carney’s Last Speech: Canada Can Do Better appeared first on RateSupermarket.ca Blog.

Spending more than $100 a week on groceries? It might be time to forego the black label products. An overwhelming majority of Canadians are planning to tighten their belts – and their budgets – in light of rising food prices, according to a recent RBC Canadian Consumer Outlook survey.

Higher Prices Lead to Frugal Decisions

While 84 per cent of Canadians say the food they typically buy has jumped a bit in price, 91 per cent have plans to make smarter decisions when it comes to saving on food costs.

“In light of concerns over escalating food prices, more Canadians are looking for cost-saving strategies they can use on their next trip to the grocery store,” says Jason Round, head of Financial Planning Support at RBC Financial Planning. “Creating a budget that covers all of your expenses – including must-haves such as groceries – can help keep your spending under control.”

Round adds that saving requires more than just making a plan.

“It’s essential to regularly review your budget to stay on track and make any adjustments necessary to help balance living for today and saving for future goals.”

Biting Into Food Budgets

According to the poll, Canadians spend around $411 a month on groceries.

A third of those surveyed say the rising costs of food have had a significant impact on their overall budget, with 43 per cent cutting back elsewhere in their expenditures to accommodate the rise.

The study also pointed to the changing shopping habits of consumers. The thrifty ones of the bunch have turned to comparing similar products from different brands and rigorously sticking to the budget to avoid straying towards impulse purchases. Fifteen per cent have even pointed to using their car a bit less to save a cash via gas money.

Editor Tip: Using a cash back credit card on grocery purchases can help offset their rising costs. A popular pick is the Scotia Momentum No-Fee Visa, which offers one per cent cash back on gas, groceries and drugstore purchases. It also offers a special sign up interest rate of 7.99 per cent for six months (it’s 19.99 per cent after that), and is free of annual fees. Click here to learn more.

A Growing National Issue

Food inflation has been an ongoing concern for Canadians. Last year, prices rose 2.4 per cent, after increases of 3.8 per cent in 2011 and 1.4 percent in 2010.

A RBC Economics report put out last year pegged an increase of three to four per cent this year in light of last year’s crippling drought in the U.S. It takes about six months or so for the effects to ripple through the market.

However, Paul Ferley, assistant chief economist at RBC, is more optimistic.

“Even though we are seeing rising food costs, overall inflation should remain below two per cent in 2013,” he says. “We are in an environment of modest growth, so pressures from rising food prices won’t dominate inflationary expectations.”

How to Counter Your Food Costs

There are plenty of ways to remain savvy despite rising food prices, from eating more seasonal and local vegetables and grains to taking your lunch to work and avoiding spending money eating at restaurants.

The post Shoppers Taking Savvier Approach to Rising Food Costs appeared first on RateSupermarket.ca Blog.

If you’re planning to start a family soon, or have a baby on the way, you must be wondering about how you’ll finance family life. Prepare to have your carefully crafted adult budget blown to bits by the arrival of baby; diapers, daycare and all those cute shoes cost money, after all. Can you afford it? Here’s a cost breakdown of common first-year baby expenses.

Newborn Baby Means New Expenses

Your bundle of joy will also introduce new ongoing costs to your new parenthood budget. Here’s what to start setting aside for now to minimize the cost of baby set up later.

Diapers: Prepare to pay an estimated $72 a month for disposable diapers, or about the same for a diaper service. Your child will wear diapers until about age three — the cost will dwindle gradually as your child potty trains and just wears a pull-up overnight. Savings tip: Buy no-name diapers for everyday use and a premium brand-name product for overnight (that’s when you need a reliable product!).

Food: If you breastfeed, your extra costs for your baby’s nutrition will be $0 for the first six months. Formula runs about $100 a month. After six months, babies start on solid foods. Savings tip: Puree your own vegetables and fruit to make your own baby food.

Gear: Babies need a lot of swag— or at least parents find such stuff helpful when caring for their child. You’ll need to invest in a good quality stroller, and probably a compact lightweight one too for travel and visits to the mall. A baby carrier, car seat, exercise saucer and toys will add up. Expect to drop $2,000 or so in the first three years. Savings tip: Solicit hand-me-downs for big toys. Buy a toddler car seat that converts into a booster. Choose your big items well in advance and request them at your baby shower.

Healthcare: Even if you have full drug coverage, you’ll inevitably spend money on health-related gear like a baby thermometer and humidifier. Gripe water, baby acetaminophen, and teething gels likely won’t break the bank, but you’ll be spending $20 a month or more on small drugstore purchases. Savings tip: Purchase no-name drug store items. Travel with lots of everyday medicines to avoid paying top-dollar when you’re away.

Clothing: Babies grow fast and those newborn clothes will be tight before you know it. You could easily spend a few hundred dollars in baby’s first year on sleepers, onesies and snowsuits. Savings tip: Even if your baby isn’t born yet, find a parent with a child who will be a year older than yours, and the same gender, and ask for hand-me-downs. Provided the children stay a size apart, that relationship can save you hundreds a year, year after year. Also, ask that grandparents and friends who like to buy clothes always purchase things too large so you get maximum wear.

Childcare: If both parents are returning to work, childcare will emerge as one of your biggest expenses. Full-time care for an infant can run as much as $1,500 a month, depending on where you live. Even after-school care for a child in full day school will cost $500 a month and more for summer camps. Savings tip: Part-time care or co-op daycares will cost you less and could be balanced with part-time work or with care offered from family members. (But in truth high quality childcare is worth every penny!).

Indirect Costs To Keep in Mind

When you are a parent, life changes. In your new monthly budget, take into account that more of your time will be taken up with caring for your child. You might not be able to put in as much overtime at the office, while household tasks and renovations may become more difficult, prompting you to hire others for what you may have previously handled yourself.

As well, kids take up space and having a family could inspire you to move into a larger apartment, condo or home over time. Meanwhile, when you want to head out to a movie or dinner sans child, you’ll need to pay for a babysitter, adding to the cost of going out socially or for work after work hours.

Unexpected Savings

There is a financial upside! When you have kids, you simply don’t go out as much, and as a result, your entertainment budget will go way down. A rental movie or bottle of wine will get you and your partner through a weekend, saving you hundreds in restaurant bills, movie tickets, cabs or parking.

While it can be pricey to take kids to the zoo or fairs, many things you do with children are free. Playing in the park, visiting the local outdoor pool and just playing in the yard or your living room can fill hours of relaxed, meaningful and low investment time that you’ll value in a very real way.

The post How To: Adapt Your Parenthood Budget appeared first on RateSupermarket.ca Blog.

There’s something to be said about everyday convenience, and consumers looking for a no-fuss way to pay for life’s necessities should look to a credit card with a back-to-basics approach and an emphasis on good value.

If you want a steady rate of return on your regular purchases, the The Scotia Momentum® No-Fee VISA has proven to be a good option to maximize your earnings. It offers one per cent cash back on eligible gas, grocery and drugstore purchases, 0.5 per cent at all other eligible retailers, and is free of annual fees. These features are topped by a special 7.99 per cent purchase rate for the first six months, offering a nice interest break to go along with those reward earnings. After that, the APR bumps back up to a standard 19.99 per cent.

Pinch Pennies on Bill Payments

This card also features the ability to earn cash back on recurring and automated bill payments. This means earning cash effortlessly on phone payments, hydro, and even monthly rent.

Who Is This Card For?

This card is the ultimate tool to take on those daily errands. From filling up the tank to grabbing dinner on the way home, you’ll be earning your way to a cash back payout.

Keep in mind, though, that the “charge it now, pay right away” approach is not for those lacking financial discipline. Cash back rewards fail to pay off when offset by credit card interest payments, making it imperative to pay your balance in full every month, and avoiding the temptation to let those purchases linger. If you’re the type to carry a credit card balance, it’s best to keep bill payments separate from your credit card use.

The Big Numbers

Annual Fee: $0

Purchase Rate: 7.99 per cent for the first six months (19.99 per cent after that)

Balance Transfers and Cash Advance: 21.99 per cent

Reward Return: 1.00 per cent

Cash Back AND A Free $50 Gift Card

It’s RateSupermarket.ca’s fifth birthday – but you’re the one scoring the presents! Right now, you’ll get a free $50 gift card when approved for the Scotia Momentum® No-Fee VISA, to your choice of Chapters/Indigo,  Starbucks Coffee Company, Future Shop or Bon Appetit. But hurry – this offer is up on May 31. Click here to learn more.

The post Credit Card Review: Scotia Momentum No-Fee Visa appeared first on RateSupermarket.ca Blog.