2014 has come and gone – what affected your bottom line this year? From navigating Canada’s steep housing market, to picking the perfect credit card, to trimming fees off everyday banking, readers turned to MoneyWise for expert advice and news – and we’re so glad you did!
To celebrate the start of 2015, we’ve brought back your favourite headlines of the year. Enjoy – and cheers to a fresh financial start in the new year!
CMHC Axes Second Home and Self Employed Mortgages
In April, Canada’s Mortgage and Housing Corporation, the entity that backs the majority of high-risk mortgages in Canada, announced the discontinuation of two of its products: coverage specific to self-employed buyers, and those looking to purchase a second home. While the Crown corporation stated the changes would affect only 3 per cent of applicants, the cuts presented challenges to those running their own businesses, or looking to rent out their property for profit.
CIBC-Aeroplan Transition: Customers Speak Out
When Aimia, the owner of Aeroplan rewards, announced they would partner with TD upon the expiration of their long-standing contract with CIBC, the latter lender called foul. To remedy the conflict, it was decided CIBC would retain roughly half of its Aeroplan credit card business, with the remaining making the move to TD. One little problem… no one bothered to ask current cardholders whether they wanted to move. As a result, the exodus of cardholders from one bank to another spiraled into a full-scale customer service debacle that lasted for months.
The Top 5 MasterCards in Canada
Basic, platinum, elite – which plastic is the perfect fit for you? There are as many MasterCards on the market as there are types of shoppers – but not all are created equal. We break down the tiers and explain what perks, features and bonuses are offered in each, whether you want simple spending power or a VIP cardholder experience.
INFOGRAPHIC: 3 Easy Steps to Save on Your Mortgage
Want to pay less for your home? There are serious savings to be had just by making a few tweaks to your mortgage features. From comparing the market to perfecting your payment schedule, read on for our tips on savings thousands of dollars over the course of your mortgage.
Falling in Love? That’ll be $45,151.88
Sure, you can’t put a price on true love… but you can certainly expect to be billed for the costs of pursuing romance. From the first date to putting a ring on it, Ratesupermarket.ca crunched the cost of amour – and found it’ll cost you $45,151.88. Check out our infographic to learn more about the Cost of Love.