Is It Time to Move Your Money?

Is it time to move your money to another bank?

The search is on for greener pastures this week, as banking customers seek out the best rewards, customer service, and no-fee options for managing their cash.

On the credit card front, former CIBC Aeroplan customers have been speaking out against their mandated move to TD – and we’ve gone to bat regarding some of their biggest frustrations. Meanwhile, new developments in credit card interest charges, and a revived auto insurance discount plan, leave one wondering what other lenders have in store. Read on for our full coverage.

TD – CIBC Aeroplan Transition: Customers Speak Out

Last summer, CIBC announced they’d be selling half of their Aeroplan credit card business (about 550,000 cardholders) to TD. Now, a month after the official switch, many transitioned clients still face frustrations due to poor customer service, lack of rewards and tricky tech issues.

Did TD drop the ball here – or are blips to be expected in such a large-scale operation? We asked them the tough questions – read on for their answers.

Read Penelope’s Blog | TD – CIBC Aeroplan Transition: Customers Speak Out

Why I Switched My Bank Account… And Saved Thousands

RateSupermarket blogger Allan Britnell had been a TD customer since childhood – but growing frustration over hidden fees had him jumping ship for a more cost-friendly option. Here, he crunches the estimated savings he gained from making the switch… and they’re no small peanuts!

Read on for his story.

Read Allan’s Blog |Why I Switched My Bank Account

Are Canadians Having a Summer Banking Fling?

Canadians are fiercely loyal by nature – but studies show it doesn’t always pay to stay. Many bank customers feel they’re limited to what’s offered by their bank – and it could be costing them in steep fees. Summer provides the perfect opportunity to streamline your wallet, by switching to plastic with practical rewards, lower interest or no fees.

Not sure if a summer fling is for you? Check out the Cheat On Your Bank Challenge to see if you should make the switch.

Read Penelope’s Blog | Are Canadians Having a Summer Banking Fling?

INFOGRAPHIC: Wealthy Canadians Use Mortgages As Investment Tool

We’re often told paying off your mortgage as quickly as possible is the best investment you can make, but not all Canadians see it that way. Two thirds of high-net-worth Canadians – those with over $500,000 in investible assets – that have a mortgage have the cash available to pay for their home in full, according to a recent Investors Group survey.

Read Sean’s Blog | Wealthy Canadians Use Mortgages as Investment Tool>

Bad News for Jobs and Housing: Should Canadians Worry?

It’s been a bad news weeks for Canada’s economy as separate reports blast job growth and real estate values. Should consumers hunker down for the worst? Read on for our bad news breakdown – and the economic silver linings.

Read Rubina’s Blog |Bad News for Jobs and Housing>

MBNA TrueLine MasterCard Launches Personalized Interest Rate

MBNA has relaunched their popular TrueLine credit card with a game-changing feature: an interest rate based on a cardholder’s personal credit score. Read on to learn more.

Read Penelope’s Blog |MBNA TrueLine Launches Personalized Interest Rate

Liberals Revive 15% Car Insurance Discount Plan

Great news for responsible drivers: after being shelved during the June Ontario provincial election, the Liberals have given new life to a plan to slash auto insurance premiums by an average of 15 per cent.

Read Penelope’s Blog | Liberals Revive 15% Car Insurance Discount Plan

#RSMWIN Results

This week, we asked the Twitterverse:

What’s more important to you – earning credit card rewards or paying less in interest charges?

30% – Low Interest

70% – Rewards

Looks like our followers love being rewarded! The majority answered that credit card rewards wins out over paying less interest when choosing the perfect plastic.

Want your chance to WIN a $25 gift card? Tweet your answer to @RateSupermarket with #RSMWin!

Do you plan to shop around for a lower auto insurance rate this year?

Tweet us @RateSupermarket #RSMWIN or visit us on Facebook  to enter!




Related Topics

Credit Card Reviews / Credit Cards / Economic News

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