Search found 20 matches

by rock
Wed Jul 30, 2008 12:24 am
Forum: Personal Loans
Topic: Personal Loan interest
Replies: 5
Views: 4983

Re: Personal Loan interest

You will have to give us more info, in order to answer your question.
by rock
Wed Jul 23, 2008 7:06 pm
Forum: Mortgages
Topic: Home Equity Line of Credit
Replies: 2
Views: 2954

Re: Home Equity Line of Credit

You should know that HELOCs contributed to the current severe housing market downturn in the USA. Do the math.
by rock
Wed Jul 23, 2008 7:04 pm
Forum: Banking
Topic: What is your favorite Canadian bank?
Replies: 6
Views: 10775

Re: What is your favorite Canadian bank?

I had chequing account with CIBC, which I wasn't using, and it was a real pain to close it. I wouldn't recommend CIBC to anybody, especially considering their dire financial situation.
by rock
Wed Jul 23, 2008 7:02 pm
Forum: Credit Cards
Topic: Credit card debt
Replies: 5
Views: 4920

Re: Credit card debt

First you have to stop accumulating debt. Then you have to start paying off the credit card with the highest interest rate. Once you've done that, move to the next card, until you are debt free. You'll have to learn to live within your means, and not buy useless stuff. I couldn't have said it bette...
by rock
Wed Jul 23, 2008 6:59 pm
Forum: Business Finance
Topic: starting a small business - what should I know
Replies: 2
Views: 5893

Re: starting a small business - what should I know

Here is a good government resource site that can help you with your questions about starting a small business in Canada:

http://www.ic.gc.ca/epic/site/ic1.nsf/en/h_00145e.html
by rock
Wed Jul 23, 2008 6:58 pm
Forum: Credit Cards
Topic: Canceling credit card - can I do that?
Replies: 1
Views: 2612

Re: Canceling credit card - can I do that?

Of course you can close it. This might affect your credit score, if this was one of your first credit cards, and one of your first credits in general. For example if this was your first credit card and your first credit ever and you had it for 10 years, and your second credit line was obtained 5 yea...
by rock
Wed Jul 23, 2008 6:54 pm
Forum: Mutual Funds
Topic: What is the best choice for a two year investment?
Replies: 3
Views: 7252

Re: What is the best choice for a two year investment?

There is no general best investment valid for everybody. People with high risk tolerance have different favourite investments compared to let's say retirees. I personally don't think that bonds will do well in the next several years, but I might be wrong.
by rock
Wed Jul 23, 2008 6:51 pm
Forum: Mortgages
Topic: Current interest rates?
Replies: 4
Views: 4064

Re: Current interest rates?

Are you talking about 25 years fixed mortgage or about mortgage with 25 year amortization, with locked rate for 5 years for example? I've just check on RBC's website and they advertise 25 closed mortgage rate of 8.55%, but you'll have to call to find out their special rates (presumably lower). The ...
by rock
Tue Jun 10, 2008 7:34 pm
Forum: Credit Cards
Topic: Credit score
Replies: 1
Views: 2620

Re: Credit score

I don't think that authorized users receive credit along with the primary credit card holder. You can simply call any of the 3 major Canadian credit reporting bureaus and they can confirm that.
by rock
Tue Jun 10, 2008 7:31 pm
Forum: Mortgages
Topic: Canadian Credit Report
Replies: 6
Views: 7648

Re: Canadian Credit Report

Yes, Equifax wants to verify your identity and once they have done that they'll send you your credit report.

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