Like, don't courier your bank cards to anyone. That should go without saying. If someone is saying something's going on with your account. Maybe log into your account and check first? Hang up and call your bank? Why are people still getting scammed like this? https://youtu.be/ID-rxAA-58Y?si=1rAmc3o3jkdt6vcW

I will be hosting at least one information session with my friends and families before the year runs out.

I have just two credit cards - the WS Infinite Privilege Visa (free, given my WS holdings) and the Amex Cobolt (~$175 a year). I'm finding that points dont really do much for me any more. Most of my travel is with work and so I only take maybe 1 personal vacation a year (something simple like an all inclusive or a city break to one mid range hotel) so playing the points game doesn't seem to do it for me and I think I prefer more tangible rewards like direct cash back where I can see the impact more directly. The cost of Amex has also gone up this year.

I'm thinking of converting the Amex points to Aeroplan and then closing down the card - do you think this is a good idea or is the Amex card still considered the best general spending card? For context I probably spend about $400 a month on groceries, maybe about the same on dining out, I dont drive (for gas points) or spend a ton on other higher point categories like subscriptions. I'm not sure the Amex is really worth it any more?

I lost my wallet unfortunately and it was if not one of the worst days I’ve had in a while, all my cards like my credit card, debit card and ESPECIALLY my sin card are in there. I’ve locked my bank cards making sure no one can use them not to mention I’ve also lost my health card and I’ve already contacted transunion for them to put a security freeze on my credit identity. This is the first time it’s happened to me and it’s just awful. If anyone experienced this please share me the process on how it goes down.

I took a whole life policy for my kids about 3 years ago. In hindsight I think it’s a mistake. The policy is 50k coverage, pay up period for 20 years. Monthly premium about < $100.

When I think of it now with so little coverage I might just put the money in an index fund and call it a day.

There is almost no $ accumulation so far. So the option is just cut the losses and get out of it.

What do you think?

Hello PFC,

I am in the process of purchasing my first car. I spent the last couple of weeks doing research on what to check when purchasing a used vehicle, and how to get a good financing deal. I thought I was making the right choice - going for a reliable used car (2023 Toyota Corolla hatchback with 22,000km on it) and saving up my money beforehand. I am trying to follow the 20/4/10 rule.

In order to minimize the amount paid in interest, I was trying to put $15,000 down (out of the total of $29,000) and finance the rest. I have a strong credit score (700s to 800s). However, the finance manager at the dealership told me that my interest rate will be high since I am financing a relatively small amount. Also all the salespeople so far have been telling me that since auto loans are open I can pay them off early at any time, but the sales manager said that in the future banks might punish me for that by charging a higher rate on my mortgage etc. She is trying to convince me to go for a 5 year loan instead.

Is there any truth to what they are saying, or is this all just a way for them to push me in a direction that will bring them a greater profit at my detriment? I told them I will give it some more thought and let them know.

I've tried to look up recent posts but I feel like they mostly focus on the benefits for families, whereas I'm a big of a different situation.

I've had a WestJet RBC card for over a decade but with their constant drop in quality and rise in qualifying spend and with my travel being mostly international for work, I'm ditching WestJet.

What would be the best credit card for someone making $140k+ but with no kids and an EV (low grocery/gas bill).

I used to get around $1000+ a year in WestJet dollars but I've not really flown WestJet the last few trips because their prices were uncompetitive or they didn't fly where I was going.

I've got $50,000+ in qualifying spend each year on my card, but it's rarely ever groceries or gas. This is mostly reimbursed stuff for work and general day to day nonsense like parts/materials to hobby restore vintage sports cars.

Hey everyone!

I'm newish at this so my apologies if there's any stupid questions or comments. I'm looking for advice on optimizing our credit cards to maximize cashback and Aeroplan points

We currently have a CIBC Costco Mastercard (3% cashback on restaurants and Costco gas, 2% on Costco.ca purchases and other gas stations, and 1% on everything else), and a TD Cash Back Visa (1% cashback on groceries, gas, recurring bills etc. and 0.5% on everything else). I have this card mainly because my chequing account is with TD. I'll be switching to a better cashback credit card then potentially switch to another bank once I've figure out what make the most sense.

I also work at Costco, and a large portion of our grocery spending is done there. We spend most of our money on Costco groceries, dining out, and gas since I commute a bit farther for work.

I've done some research and am considering getting the Amex Cobalt and TD Aeroplan Visa Infinite - thinking of switching over from TD visa cash back to the Aeroplan visa to take advantage of the welcome bonus and start accumulating Aeroplan points then cancel a few years later.

I'm thinking of keeping my CIBC Costco Mastercard, applying for the Amex cobalt and the TD Aeroplan Visa infinite and potentially one more card that's good for cashback?

I've heard the Rogers Mastercard, American Express Simply Cash, Wealth Simple credit card (no charge for using your credit card outside Canada), and Tangerine were also good credit cards.

What I'm wondering is - is the Amex cobalt and the td Aeroplan visa the best for Aeroplan points? What card is best for cashback? It looks like it's the Amex Simplycash but not everywhere takes Amex. How many credit cards are ideal?

Our main goals are to maximize cashback and earn Aeroplan points - I want my parents to experience a business class flight and eventually...hopefully my husband and I too :)

Thanks in advance :)

I'll be inheriting a family cottage in Quebec from my mother at some point. There almost certainly won't be any money left in her estate to pay the resulting capital gains, so I'm sure I'll be on the hook for that. I'm trying to plan ahead and save up the money for it, but I have no idea how to calculate the adjusted cost base. The cottage wasn't purchased, my dad built it himself in the 70s out of whatever cheap/free materials he could get his hands on. So how does that work?

If you try using joker prepaid Mastercard or visa it does not work anymore with Walmart Canada unless it’s a 100 dollar card or fewer. Could be more but 200 also didn’t work so it’s less then that

Hello all,

I am in BC dealing with ~$10k in debt. I am still a student. I was very stupid and let my mom have my credit card when she was struggling because she promised to pay it back. Long story short I now have 10k in debt that has been sent to MJR and they have been nonstop calling me.

I finally answered today and they were pretty aggressive with me and told me a good option would be to take out a loan with one of their associate companies called LM (i can’t remember well). I told them I would like anything they suggest to me to be sent in writing and they got even more aggressive and rude to me, they were asking me why I haven’t made any payments if my credit score is good and other credit cards are in good standing etc.

The agent I was talking to escalated to a manager who once again tried to sell me on getting a loan which would be paid in less than an hour and I told him again that I want everything in writing. He asked if he could refer me to their partner company and I said no. He then told me okay your account will be getting escalated and hung up on me.

I regret even answering their call in the first place. Now I’m extremely anxious and scared for the future. So far they haven’t mentioned anything about pursuing this in court. I have made an appointment with an LIT.

What are the best options for me? I have seen people say just leave it for 2 years…

Hey everyone,

Recently, my side project that I've been working on started to gain traction and I made 6k this month, and I'm expected to make about 12k next month (all profit), so I thought I'd dig deeper into investing.

I'm a full-time university student with relatively low expenses since I still live with my parents.

Here's what I did so far:

- 15% set aside for taxes in a separate savings account ($900)
- 50% FHSA (3000$)

-25% TFSA (1500$)
-10% personal spending ($600)

My plan is to invest money in my FHSA and TFSA into ETFs, but beyond that, I'm not entirely sure what the best approach is.

I also made budgeting spreadsheet that tracks all my income/expenses, but that's pretty much it.

I have a 2 questions:

-Taxes: I'm currently setting aside 15% of profits for taxes. Is that enough, or should I be putting away more? For context, this side project is my only source of income this year, aside from around 4k in RRSP withdrawals. Are there any other tax implications I should be aware of as someone earning self-employment income?

-Investing: So far, I have only invested about 500$ in my FHSA. I'm thinking prioritizing this as there's a fixed limit every year of how much you can put it, so should I fill it up and just put 0$ in TFSA since that rolls over every year? Or does the 50/25 split make sense?

Thanks for your help in advance!

I currently have a credit score of 500. Now to start off, my credit used to be quite good, however I got in over my head when I was younger with credit card debt and other loans. Fast forward, I went into a debt consumer proposal as I was advised it was the best option, my debt is under 12k and I’m at the beginning of it.

I recently had to move to Ontario for some physical health issues I was having and I’m living with my sibling currently. I was able to get a diagnosis (woo!) and I’m finally able to start back to working full time.

The field I’m in (mental health) is not a higher pay, so typically all my pay is towards rent/bills/necessities.

Im in my mid twenties, I’ve always lived on my own, paid all bills, supported myself, and then with the hit of my credit (which I anticipated but still hit me hard) and health, my life has felt flipped upside down with the space I’m in.

I also just don’t know how to advocate for myself to landlords to at least agree to a co sign? I’ve heard from many friends that basically if you don’t have a credit over 600 they won’t even look at a co sign for you as good enough to be looked at for apartments

I know there’s no fast track, but I’m hoping for some tips and tricks to build it faster than I am. I also can’t be approved for a credit card, but I’m unsure if there’s a prepay option or if wealth simple or koho are good options to help with credit? I can’t be approved for a credit card - but they said I can be in the future?

Honestly, any help is appreciated. I’m in my late twenties, and I really want to start setting myself up for success. I’m really new to educating myself on credit and finances in general, so any help would be appreciated. I know housing is a whole crisis in itself, but I’m just feeling at a loss of how to even get above water.

I started to open an online account with Simplii.

When it got to the part about uploading my id photo and taking a selfie something came up and I closed my browser.

When I tried the next day I got an error. After a frustrating phone call they said the account was flagged by security and I would have to wait a week.

They emailed me saying I had to go to a Canada Post outlet and prove my identity. That was not happening and did not happen.

Now I am getting emails about "my account" bonus interest period and received a snail mail about my account details and terms etc.

I don't have an account. I never went to Canada Post to prove my identity.

Do I just call and tell them to remove my information from their bank? Or just ignore the entire mess?

Hi, I’ve been reading through some of the posts here about parental leave/maternity leave. I’m confused by the rules on the federal site. Hoping someone can help me out. Husband and I both work full time.

-I am due in Feb, I was planning on taking six weeks of maternity leave only. Then I’ll return back to work.
-My husband was going to do a year of parental leave. So returning back to work in Feb 2028.

Questions - Can we both be off at the same time, or would his leave start after my maternity six weeks is up? And is he allowed to take a full 52 weeks off? I’m seeing cases of 40 weeks only, and it’s confusing.

Thanks very much for your help.

EDIT: Thanks everyone for the kind advice on taking more than six weeks off. Your perspectives are making me think about extending that for sure!

My oldest credit card is a Capital One card that I’ve had since 2020. It has an annual fee of about $100, doesn’t earn any points or offer any meaningful benefits, and I don’t use it anymore. At this point, I’m basically just paying the annual fee to maintain the credit history.

My second-oldest card is an Amex Cobalt, which I’ve had since 2022. I also have a few other credit cards that I’ve opened over the years.

I’m wondering if it’s worth keeping the Capital One card around solely for the credit history, or if I’d be better off cancelling it.

How much of an impact could closing my oldest card realistically have on my credit score, especially given that I have other cards with several years of history?

I thought I would be smart and save Tax returns on a drive but have discovered that went kaput. Will the CRA be able to provide copies of T776 Statement of Real Estate rentals for the period 2003 - 12? I looked on My CRA and didn't see that information available. I would like to know the amounts claimed thoughout those years CCA and would like to sell the property soon but want to know how much the recapture will be.

I guess I really only need to know what the original balance was for the UCC and then deduct the balance showing now so I will be able to know how much the recapture will be, but don't have the numbers for that either.

I’m really confused and frustrated with this whole credit limit situation, and I’m wondering if anyone else has experienced something similar.
I’ve been with CIBC since I was 18. I got my first student credit card with a $1,000 limit, no annual fee. I’ve always paid my bills on time, never missed a payment, and I don’t carry a balance. I’m now 21, and despite requesting a credit limit increase several times over the years, my limit has never changed.
About a year and a half ago, I opened an account with BMO and got the cashback credit card with a $1,500 limit. I eventually moved my banking over to BMO, and my paycheques now go directly into my BMO account. I no longer use CIBC for anything other than keeping that original credit card open.
The issue is that I’ve now graduated, have a full-time job, and earn a regular income, but my credit limits are still ridiculously low. I can’t comfortably make larger purchases on my credit cards because the limits are so restrictive. I recently had to buy a plane ticket that cost $2200 with my debit card.
I always pay on time with BMO as well, so I genuinely don’t understand what the issue is.
I recently requested a credit limit increase from BMO, and they wouldn’t approve it either. Their explanation was essentially that I haven’t been at my current job long enough

For context, my credit score is above 788
What makes this even more frustrating is that most of my friends who got credit cards around the same time I did have significantly higher limits now. I understand that everyone’s financial situation is different, but I’m trying to understand what I need to do differently.
Am I missing something? Is this just because I’m young and don’t have enough credit history or income history yet? Or is it because the credit cards have no annual fee is it’s low priority?Should I apply for a different credit card with another bank, or would that potentially hurt my credit score without solving the problem?
I’d appreciate any advice from people who’ve been in a similar situation, especially those who started with student credit cards and eventually got higher limits.
I’m just tired of having to work around such low limits when I’m doing everything I thought I was supposed to do to build good credit.

Thank you

Edit: thank you everyone for your suggestions. I’ll definitely look into them.
And also just a side note, my credit utilization is usually between 30 -35 %. My credit limit is usually a problem when I want to make huge purchases.

Thanks again!!

Any one lock in a good rate recently for 3 year fixed?

Hello!

I'm hoping to get some outside perspective advice. I'm not sure what flair to put it under.

I bought a townhouse condominium roughly 11 years ago, right before the housing boom. My condo is currently worth almost 3 times what I paid for it so I am in a pretty good spot where I am. I still owe on it, but if I sold I'd definitely be pocketing a hefty amount.

The problem right now, is I work a dead end automotive factory position. I'm just a general labourer. I saved up for years for the down payment on my place by myself. I take care of everything by myself. I do not have any real tangible emergency funds right now and I am just coasting by. Not in dire straits at all but if I were to get laid off I wouldn't last more than a year maybe. Automotive isn't in the greatest spot currently.

My family recently have been hounding me to "live my life" and "I don't know why you don't just do what you want and travel and get a career". It's been starting to wear me down.

Recently I've been really thinking that I don't need all of the space I have in my townhouse condo. I was looking at apartment buildings in my area and noticed that realistically, if I sold my condo, I could be very close, if not totally, buy an apartment outright. Depending on where I'd go, I could possibly have money in the bank as well.

Is this a good idea? My brain seems to think so but I don't know at the same time. Would it be better to sell, pocket the money, and rent something instead?

My other problem is I would like to start investing but I don't even know if it would be smart with my current income or what would be the best spot to start. I do have some sort of investment through my work but I never seriously looked into it. It's like a profit sharing plan I think? All I know is I can't touch it until I no longer work for them.

I'm sorry if this isn't allowed, just not sure how to go about any of this.

FTHB here. I have a home closing coming up in 3rd week of January 2027. My downpayment is currently in TFSA and FHSA both of which are with RBC Investease. I’m skeptical on the timeline of the withdrawal, whether I should withdraw the funds in November 2026 or wait until first week of January 2027, as I’ll be out of the country for 3-4 weeks in December 2026. Anyone who has withdrawn funds from FHSA with RBC Investease before, how long did it take for the funds to get deposited into your account ?

Voila ma situation . Je n'avais jamais eu de credit jusqu'a il y a environ 3 ans . Jai commencer avec des chose comme sezzle et Borrowel rent advantage qui ont beaucoup aider ma cote mais qu'avec equifax . Depuis 11mois jai une nouvelle voiture et jai ete approuvé rapidement . Aujourdui mon equifax a une cote de 796 mais mon transunion est a 678 et ne semble pas vouloir monter plus haut pour le moment mais je n'ai que mon prêt auto dessus .

Je suis sur la CNESST a vie donc je suis payé jusqu'a mes 67ans 27k par année, cest pas extreme mais bon jai eu un accident et je ne peux plus travailler .

Jaimerais avoir une carte de credit pour ameliorer mon score avec mon transunion aussi car je ne crois pas que seulement qu'un pret auto va la faire monter tant que ca .

Je sait qu'il y a exemple capital one mais j'aimerais eviter d'avoir a donner un depot de securité de 500$ ou dequoi du genre.

Je suis avec tangerine pour mon compte de banque mais jai vu beaucoup de commentaire negatif sur ceux qui reussissent a avoir une carte vs des gens qui sont refusé .que c'etait tres aléatoire comme selection 🤷🏻‍♂️🤷🏻‍♂️

Pensez vous que je vais etre refusé avec un equifax de 796 et un transunion de 678 ?

Je n'ai pas de paiement en retard , jai que mon auto a payé .

Je ne veux pas une carte de 10000$ non plus 😅

Jai besoin de conseil .

My wife and I are early in the process of shopping for our first home. Online, we found a place we liked, and wrote to the seller's agent to arrange a visit.

We had planned to eventually hire our own buyer's agent to help walk us through the process of purchasing. When we arrived at the condo and explained this to the seller's agent, though, she said that since we'd contacted her directly, and since she was doing the showing by herself, we no longer had the option of involving a buyer's agent. Our only option, if we wanted to purchase the condo, would be to have her operate as both the buyer's agent (i.e. our agent) and the seller's agent.

Two questions: first, is her assertion that we're not able to involve our own agent in this situation legit? Is seems slightly fishy to me. If it matters, we're in Quebec.

Second, if it is true that we can't have our own agent, is there some other person we could hire to guide us through the buying process, and look over documents to make sure we're not getting screwed? If so, who would this be? A real estate lawyer?

The condo looks great, tbh, but I'm a little uneasy only interacting with the one agent who only has the seller's interests in mind, not ours. I want someone "in our corner", looking out for us. But if this can't be our own agent, who it could be... any ideas?

We really like the place...! How can we move forward intelligently?

I’m 22 years old, I don’t have any insurance or coverage. The past two dentist appointments I had that were for cleaning, I paid with card. I recently discovered about the CDCP. Now, I need a little guidance or a bit of explanation. So, if I apply for this year 2026-2027, does that mean the next time I go do a cleaning, the government will cover the cost and I won’t have to pay anything?

I’ve been dealing with unemployment for about a year and a half now. Because of that my already bad financial situation turned worse and all my various debt went to collections.

I was recently approved for the DTC and 10 years of back payments. (Ive already opened an rdsp too) I’m currently waiting for the back payments to be processed (hopefully before the end of the year) I’m am expecting $15,000-$20,000 in back pay.

I want to use this money to help get a chunk of my debt out of collections to not only to clear it but improve my basically 0 credit score.

I know I owe the debts but I also know that most of the collectors may accept a settlement vs never getting anything.

So my question is how do I prioritize what debts to pay and how do I go about negotiating a settlement to pay a smaller amount than the owing debt but have it marked as paid? Like how do I approach the conversation/what do I ask? Is there a difference between paid in full and a settlement?

Do we reach a verbal agreement and then have them email or mail written agreement before I make the payment? To ensure they cant change the terms?

How long after clearing the debts will it take for my credit score to start improving? Its low 400s right now.

My approx debts owing, not including government student loans. Everything except TD is with a collections agency

TD Visa
$8000 - account is marked as “open” (still held at TD, but they didnt renew the card/cancelled it due to my poor external score even though payments were being made monthly)

Captial One
$1400

Pc mastercard
$3700

Rogers
$2000

Canadian tire
$1000

Easy financial
$12000

Teppermans
$11000
Not sure why this one is $11000. The items and original loans were only for no more than $3500. Maybe its interest? Idk