From credit cards to your mortgage rate, there may be impending changes for your financial products this year – and the price of oil may be largely to blame. While the effects may be positive for some (cheaper gas and lower home prices are certainly reason to smile), the Bank of Canada warns the long-term consequences of low oil won’t be so cheery.
Meanwhile, credit card holders could see a cut to their reward earning potential, as new fee caps are slated to take hold this spring.
Interchange Fee Cut: A New Reality For Your Credit Card Rewards?
Visa and MasterCard will be capping interchange fees, which merchants pay on every card transaction, this coming April. It’s great news for retailers – but could slimmer profits for banks mean you’ll earn fewer rewards with your favourite credit card?
Read on to get the full story.
Read Penelope’s Blog | A New Reality For Your Credit Card Rewards?
Is Online Credit Card Use Still Safe?
With several retailer data breaches making headlines, it’s no wonder consumers are feeling wary about using their credit cards online. Is online credit card use really more high risk these days – or it this hot-button topic simply getting more airtime?
We chat with security experts to get the real story.
Read Andrew’s Blog | Is Online Credit Card Use Still Safe?
Are Oil Prices Housing’s Kryptonite?
Oil prices continue to slide, and Canadian economists and real estate experts are beginning to revise their economic outlooks for the year. Several headlines this week predict a slowdown in housing sales in 2015 – and talk renews of a potential Bank of Canada central rate cut.
Get caught up on your mortgage news with this week’s Housing Headlines.
Read Penelope’s Blog: Are Oil Prices Housing’s Kryptonite?
Savings Spotlight: What is an RRSP?
If you’re looking for a good way to save for retirement, a Registered Retirement Savings Plan (RRSP) is a probably the best option out there. It will help reduce your taxes in your money-making years, which has the added bonus of encouraging you to save more.
Learn More | What is an RRSP?
In Economic News: Employers Plan to Grow Business Without Hiring in 2015
Canadian businesses are expected to have a good year as conditions in the U.S. improve. But that doesn’t mean employers will be upping their ranks – a recent survey from Hays Canada finds many plan to keep hiring costs down this year.
Read Rubina’s Blog | Employers Plan to Grow Business Without Hiring in 2015
In Savings: What Retirees Should Know About Rising Rates
Rising rates could be a reality for many Canadians this year or next. How will they impact your retirement portfolio?
Read Gordon’s Blog | What Retirees Should Know About Rising Rates
This week, we asked our Twitter followers:
Do you have an RSP?
Want your chance to win a $25 gift card? Tweet your answer to this week’s Q to @RateSupermarket with #RSMWIN!
What’s your biggest RSP challenge?