Arexl – Page 6 – arexl.com

Jun82026 by ArexlNo Comments

American Express Aeroplan Reserve Card Review: Earn Up to 85,000 Points

CREDIT CARDS

In this American Express Aeroplan Reserve Card Review, I'll delve into the comprehensive features that make this card one of Canada's top travel credit options. This card is not only known for its substantial welcome offer but also for an array of benefits that ensure a premium travel experience. Continue reading my review to discover all the pertinent details. American Express Aeroplan Reserve Card $599 annual fee Receive 60,000 points after spending $7,500 in the first 3 months Earn 25,000 points every month spending $2,500 in month 13 3 Aeroplan points for every $1 spent on Air Canada, 2 points on dining and food delivery, and 1.25 points on all other purchases...

Jun82026 by ArexlNo Comments

EQ Bank Tax

INVESTING

EQ Bank has established itself as a popular banking option over the years, recognized for its streamlined approach to financial services. With attractive interest rates and no monthly fees, it’s hard to find fault. However, one recurring piece of feedback was the absence of a Tax-Free Savings Account (TFSA). The appeal of saving increases significantly when it can be done free of tax burdens. In response to customer feedback, EQ Bank has rolled out the EQ Bank Tax-Free Savings Account. Much like the Savings Plus Account, this account combines a competitive interest rate with the absence of typical banking fees. Read on for a comprehensive review of the EQ Bank TFSA. Features of the EQ Bank TFSA Tax-Free Savings Account option 3%* daily interest rate GIC option within the TFSA The EQ ...

Jun82026 by ArexlNo Comments

Maximizing Benefits from Your Bank

BANKING

While a segment of individuals has opted to rely solely on digital banking, a significant portion of Canadians continues to utilize traditional banking institutions. This isn't inherently negative, but it raises an important question: Are you fully leveraging the benefits provided by your bank? Conventional banks present a plethora of products and services; however, many customers appear to be engaging with them primarily for basic deposits and withdrawals. Although some may feel that additional features are unnecessary, these extras are frequently included in the fees you incur—so why not make the most of them? Here’s how to maximize your banking experience. Access Fee-Free Banking Nobody enjoys incurring fees, and while that’s understandable, it’s worth noting that many banks can wa...

Jun82026 by ArexlNo Comments

All-in

PERSONAL FINANCE

With the vast array of exchange-traded funds (ETFs) and index funds on the market, identifying the ones that best match your investing style can feel overwhelming. No one can accurately forecast which sectors or companies will thrive in the long run. So, how can you simplify your investment process while minimizing costs and avoiding the hassle of frequent portfolio rebalancing? Consider all-in-one ETFs, also known as asset allocation ETFs, as a potential solution. In this article, we will clarify what an all-in-one ETF is, highlight which firms offer them, and discuss the advantages of integrating them into your investment strategy. What is an all-in-one ETF? An all-in-one ETF serves as a comprehensive solution for constructing your investment portfolio in the stock market. Fundamental...

Jun82026 by ArexlNo Comments

Understanding Vendor Take Back Mortgages

INVESTING

As interest rates climb and the housing market cools, many buyers are facing challenges in securing mortgages. Consequently, some are exploring what a vendor take-back mortgage entails. A vendor take-back mortgage (VTB) isn't commonly known and is typically not provided by mainstream financial institutions. However, it can be particularly useful for buyers who may have negotiated a favorable purchase price but still find themselves lacking sufficient funds. Continue reading to discover more about vendor take-back mortgages. What is a vendor take-back mortgage? Commonly abbreviated as VTB, a vendor take-back mortgage—also called a seller take-back mortgage—occurs when a seller, who owns the property outright, lends money to the buyer to facilitate the sale. This arrangement differs from ...

Jun82026 by ArexlNo Comments

Do Credit Card Applications Impact Your Credit Score?

CREDIT CARDS

Credit cards, when used wisely, can significantly improve your credit score over time. Responsible behavior includes timely balance payments, maintaining low credit utilization, and having a diverse mix of credit accounts. Nonetheless, a common concern is whether applying for a credit card will negatively affect your credit score. Although submitting a new application leads to a slight dip in your credit profile, this impact is typically minor and temporary in the broader context. However, there are several factors to consider. Does applying for credit cards hurt your credit score? Submitting an application for a new credit card can influence your credit score. You may be surprised by the extent of this impact. When you apply, card issuers perform a hard inquiry on your credit report, c...

Jun82026 by ArexlNo Comments

Transferring Your RRSP to Another Financial Institution

INVESTING

Have you ever considered how to move your RRSP to a different financial institution? This is a valid inquiry for those contemplating a switch. Some individuals prefer to consolidate their financial affairs with a single bank, while others may be frustrated with excessive fees or subpar returns from their current financial provider. Initially, the process of transferring your Registered Retirement Savings Plan may seem daunting. If approached incorrectly, you risk triggering tax consequences by making withdrawals, and it’s likely you’ll incur closure fees. However, moving your Registered Retirement Savings Plan to a new provider is actually a straightforward procedure. Generally, all it entails is signing a single form with your new financial institution, and they will manage the transfer ...

Jun82026 by ArexlNo Comments

Strategies for Paying Off Your Credit Card

PERSONAL FINANCE

If you’re uncertain about how to pay off your credit card, don’t worry—you’re not alone. Many individuals are encountering their first credit card statement and may feel lost regarding payment processes. Alternatively, you might find yourself in a situation where you've overspent on your credit cards and need to discover the most effective ways to settle your balance quickly. Regardless of your circumstances, understanding how to pay off your credit card is vital. How to pay off your credit card Let’s imagine you’ve recently received your credit card statement for the very first time. The statement outlines your total owed, the minimum payment amount, and the due date. By ensuring that you pay the full balance by the due date, you will avoid incurring any interest charges. Paying your b...

Jun82026 by ArexlNo Comments

Manulife All

BANKING

Manulife may not be the first name that comes to mind for banking services, making their launch of the new All-In Banking Plan a noteworthy development. This plan provides access to four key offerings: a day-to-day banking account, a high-interest savings account, a no-annual-fee cash back credit card, and travel disruption insurance. The aim is to encourage better financial management through the app by integrating these products. To sweeten the deal, they’re also including a one-year subscription to Amazon Prime for new customers! One standout feature of the Manulife All-In Banking Plan is that it offers unlimited transactions (including e-transfers) for a flat fee of just $10 per month. This is considerably more affordable compared to traditional banks, which typically charge anywhere ...

Jun82026 by ArexlNo Comments

How Much Mortgage Can I Afford in Canada?

INVESTING

If you're in the market for a home, you've likely pondered the question of how much mortgage can I afford in Canada? This is a crucial inquiry because your mortgage approval amount significantly influences the type of home you can purchase. However, the mortgage amount you qualify for provides only a partial view of your financial situation. Lenders employ their own methods to assess affordability, primarily concentrating on the direct costs of homeownership while often overlooking extra expenses such as personal hobbies, retirement savings, or the financial demands of raising children. Although you can technically utilize the maximum mortgage for which you are approved, it’s advisable to be prudent with your borrowing to avoid financial strain. How much mortgage can I afford in Canada?...