Arexl – Page 12 – arexl.com

Jun82026 by ArexlNo Comments

Credit Card Dimensions and Standards

Have you ever given thought to whether credit cards share the same dimensions? With the multitude of financial institutions worldwide, you might expect variability in sizes; however, credit card dimensions are standardized by the International Organization for Standardization (ISO). This uniformity ensures that your credit card is compatible with wallets and readers across the globe. Although individual credit card issuers offer varied features, rewards, and security protocols, the consistent size for credit and debit cards falls under the ID-1 standard. This level of uniformity is crucial, enabling you to utilize your cards in any corner of the world without hassle. Dimensions and Size of Credit Cards Upon receiving a new credit card, its size and dimensions might not immediately cross...

Jun82026 by ArexlNo Comments

Understanding Savings Accounts

BANKING

Have you ever questioned what exactly is a savings account? Essentially, it is a financial institution account designed for accumulating savings. However, you may be surprised to learn that it comes with various features that can enhance your financial management. How you choose to utilize your savings account can make a significant difference, especially if you understand its functions properly to optimize your savings. What constitutes a savings account? A savings account is fundamentally intended for saving money. To encourage you to deposit your funds, banks often provide interest on the balance. This may seem unusual, but it’s a standard practice in the banking industry; the funds you deposit are typically loaned to other clients at higher interest rates. Typically, savings account...

Jun82026 by ArexlNo Comments

Does Canceling a Credit Card Impact Your Credit Score?

CREDIT CARDS

Many individuals grapple with the decision to cancel a credit card, often concerned about its potential effect on their credit score. This is particularly true for those who have taken advantage of a welcome bonus and wish to avoid incurring another annual fee. The impact of closing a credit card on your credit score can vary based on numerous factors. While having multiple cards may lessen the overall impact, it can be considerably more detrimental if it turns out to be your sole card. Understanding the ins and outs of credit score calculations can provide clarity when deciding whether cancelling a credit card is right for you. The Effects of Canceling a Credit Card on Your Credit Score Cancelling a credit card can affect several components of your credit score, such as your credit ut...

Jun82026 by ArexlNo Comments

Tangerine Bank Evaluation

BANKING

Tangerine Bank, previously recognized as ING Direct, has established itself in Canada for over twenty years. Being among the earliest digital banks in the country, it has become one of the most prominent names in the industry. Their long-standing presence gives them valuable insights into customer preferences, although they now face intensifying competition. In this review of Tangerine Bank, I will explore their account rates, available products, and how they stack up against other digital banking options. While they may not be the first pick for everyone, they certainly have a broad range of offerings. Account Rates at Tangerine Bank Chequing Account – Up to 0.10% Savings Account – 2.10% for the first 5 months (0.10% thereafter) Tax-Free Savings Account – 2.10% for the first 5...

Jun82026 by ArexlNo Comments

Paysimply: Pay Taxes and Bills Using Credit Cards

PERSONAL FINANCE

Using a credit card to pay income taxes, municipal taxes, or utility bills might seem unwise due to the fees often associated with this service. However, if you're looking to meet the minimum spending threshold for welcome bonuses on certain credit cards, it could be a beneficial choice, even after considering the associated costs. Thankfully, one platform facilitates this process – paysimply.ca. Introducing Paysimply.ca Paysimply.ca is an online platform that allows you to make credit card payments for bills – at a cost – and converts these payments into electronic bank transfers recognized by the service providers. This option is particularly useful for settling payments with entities that only accept direct bank transfers, such as the Canada Revenue Agency, various municipalities, and...

Jun82026 by ArexlNo Comments

The Importance of a High Interest Savings Account

BANKING

Would you be interested in earning money effortlessly? It's a no-brainer, right? Naturally, everyone would want to, and with a high interest savings account, this is entirely possible. Despite their benefits, many Canadians still lack a high interest savings account (HISA). This often stems from a lack of understanding, but I’m here to clarify why having one is essential. Below are four compelling reasons to consider a high interest savings account, along with my recommendations for the best options available in Canada. High interest savings accounts come with no fees The notion of 'free' often doesn’t align with banking, particularly when it involves accounts with extra perks. However, high interest savings accounts are indeed free, which is already a great advantage, and when you ad...

Jun82026 by ArexlNo Comments

TD First Class Travel Visa Infinite Card Analysis

CREDIT CARDS

In this review of the TD First Class Travel Visa Infinite Card, I hope to shed some light on its features. While the card may lack extensive travel benefits, it serves as an excellent all-purpose option, and the TD Rewards program offers respectable value, even if it is somewhat straightforward. This card has been my wife's and my primary credit card choice for an extended period, giving us a convenient way to accumulate travel points. Continue reading my review to discover how the card operates and whether it is worth your application. TD First Class Travel Visa Infinite Card Apply now $139 annual fee – waived in the first year Earn 20,000 TD Rewards points after making your first p...

Jun82026 by ArexlNo Comments

Canadian Freelance Tax Guide

PERSONAL FINANCE

Navigating the tax landscape can be daunting for freelancers, entrepreneurs, and small business owners, especially when it's your first time filing. Unlike employees with traditional jobs, freelancers in Canada face a more intricate tax situation. This added complexity arises from the requirement to manage earnings, expenses, and various details sought by the Canada Revenue Agency (CRA). Fortunately, Canada’s tax framework is not overly complicated, and the CRA offers valuable resources tailored for freelancers. Nevertheless, the information can be overwhelming, so this article aims to clarify some fundamental points to alleviate any apprehensions you might have. Do Freelancers Need to File Taxes? Freelancers must report all income garnered from their work to the CRA, regardless of the ...

Jun82026 by ArexlNo Comments

Understanding Digital Wallets

BANKING

Have you ever asked yourself, what is a digital wallet? Despite existing for several years, they haven't been embraced by everyone. This isn't surprising, as many individuals still prefer cash and traditional cards for their transactions. Additionally, the fact that cryptocurrency also employs digital wallets, which differ significantly from standard e-wallets, can create confusion. Once you get a clear understanding of a digital wallet, you might wonder why you hesitated to adopt one. Digital wallets significantly enhance the convenience of everyday transactions for Canadians. Here's everything you need to know about digital wallets. What is a digital wallet? This might seem straightforward, but a digital wallet is essentially a virtual version of your physical wallet. Instead of carry...

Jun82026 by ArexlNo Comments

Understanding TD Cross

BANKING

TD cross-border banking is regarded as one of the top U.S. bank accounts, yet many Canadians opt for a TD U.S. Bank account. While this choice is perfectly valid, TD cross-border banking offers significant advantages for individuals earning U.S. dollars or spending time in the U.S. Here, we will explore the distinctions between TD cross-border banking and a TD U.S. Bank account. What is TD cross-border banking? TD cross-border banking refers to a TD Bank account that is based in the United States. This option is particularly useful for those who earn in U.S. dollars or frequently visit the U.S. By having a U.S.-based account, you can easily provide employers in the U.S. with your direct deposit details. The account comes with a debit card and the option for a credit card, enabling you to...