Nov 14, 2017 – Today’s Questrade Offer Code / Promo Code

$50 FREE REBATE @ Questrade

It’s and we have for you today the active Questrade Offer Code (Promotional Code)! Use the following promotional coupon offer code at Questrade to claim your FREE $50.

$50 Questrade Offer Code (Promo Code):

Canada

OR Click Here to Use this Offer Code at Questrade

Note: Input the above promotional offer code (colored in red) into the “Offer Code” input box when signing up for a new account at Questrade.com. Enjoy your FREE $50!

Check out this detailed Questrade Review

Investment Tip of the Day

Knowing Your Credit History With Credit Reports

Credit ReportEvery smart investor should always be aware of their credit history. However, most do not know or bother to find out what that history is. Credit history, along with your credit score, determines, for the most part, if you will be able to secure newer loans in the future. Virtually all credit loaning establishments such as banks always look to ones past and how well they’ve managed credit in determining if they should loan to them. It also plays a big part in determining what those loans interest rates will be: the better your credit score the lower your interest rates.

Even if you feel confident about your credit standings by paying your loans on time and keeping well aware of your finances it is always good to have a look at what other businesses know about you. And although it’s rare there have been cases of errors on credit reports that adversely affect ones standings. So it is always wise to look at your credit profile at least once a year to make sure everything is fine.

Fortunately, to view ones credit history it is a fairly easy and non-costly process. The two major firms responsible for keeping credit records of individuals in Canada are Equifax and TransUnion. For as often as you like, at any time of the year, you can get a free credit report from each of them by making a simple phone call or sending a fax. It is highly recommended that you take advantage of this and get both reports. One might think that the report from Equifax would be the same as TransUnion but believe it or not there have been many cases where the two reports do not match.

Equifax and TransUnion are privately operated companies that rely on other businesses to report about you to them. This is a voluntary thing. Some businesses may report just to Equifax while others may report just to TransUnion, and still others may report to both. It is this inconsistency of not reporting to both that lead to discrepancies in your report. So it is important to check both reports and make sure they are in sync and accurate because if not there is a good chance that any business that pull up your report might not be getting the complete or accurate picture about you.

To get a free credit report from Equifax or TransUnion you will need to provide your name, current address, prior address, date of birth, and signature. You will also need to provide two pieces of ID.

You can send this information by fax or provide it over the phone with a representative.

Equifax:
Fax: 514-355-8502
Voice: 877-323-2598

TransUnion:
Fax: 905-527-0401
Voice: 800-663-9980

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Nov 13, 2017 – Today’s Questrade Offer Code / Promo Code

$50 FREE REBATE @ Questrade

It’s and we have for you today the active Questrade Offer Code (Promotional Code)! Use the following promotional coupon offer code at Questrade to claim your FREE $50.

$50 Questrade Offer Code (Promo Code):

Canada

OR Click Here to Use this Offer Code at Questrade

Note: Input the above promotional offer code (colored in red) into the “Offer Code” input box when signing up for a new account at Questrade.com. Enjoy your FREE $50!

Check out this detailed Questrade Review

Investment Tip of the Day

Credit Card Arbitrage

Creit Card ArbitrageEvery once in a blue moon there is a credit card offer too sweet to pass up. One in particular is when a credit card company offers a 0% balance transfer with no strings attached just by signing up to have their credit card. Who wouldn’t take up that offer?

The definition of arbitrage is: a market activity whereby a commodity is quickly bought and sold for a profit that exceeds transaction costs.

The term “credit card arbitrage” comes about when you take advantage of some offer by a credit card company and use the proceeds in a way that nets you a profitable return. So in this example taking advantage of the 0% balance transfer offer and placing the money into a high-interest savings account would be one of many ways of leveraging credit card arbitrage.

This can only work if interest rates (or other means you are using to raise a profit) are greater than the transaction costs. However, be careful to always make your payments on time. Although you aren’t being charged interest (if it’s a 0% offer) or a relatively small one you still have to make monthly repayments so that the credit card company knows you didn’t just run off with their money. If you do miss a payment you can expect your offer will end abruptly and you will lose any further profit that was occurring under this arbitrage. This is what credit card companies are hoping — that you forget and make a mistake.

Most people that take advantage of credit card arbitrage do so through balance transfer promotions such as the famous and long-running 0% for 18-months MBNA Platinum MasterCard promotion. Also, although interest rates may be low or at 0% the company may charge you a balance transfer fee to initiate the request. This is usually at a fixed percentage to the balance you want to transfer (typically 1%). So before you jump into the deep end make sure to do your research and find out what the true cost will be onto you and how much profit you can expect when the offer ends, when you must repay the entire principal back, or risk paying finance charges at an elevated credit card interest rate.

Applying for credit cards to take advantage of arbitrage also risks adversely affecting your credit score. In simplistic terms, part of your credit score is determined by the number of enquiries to your history. The more requests for your history, which happens each time you apply for a new credit card, the lower your score becomes. Also the more credit you have available can also affect your ability to secure other types of loans like mortgages because it tends to look like you have an ability to amass large debt (a high credit balance availability).

But overall the risk is well worth it seeing as how if you are consistent with your repayments and properly plan how you intend to make a profit it is a no lose situation.

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Nov 12, 2017 – Today’s Questrade Offer Code / Promo Code

$50 FREE REBATE @ Questrade

It’s and we have for you today the active Questrade Offer Code (Promotional Code)! Use the following promotional coupon offer code at Questrade to claim your FREE $50.

$50 Questrade Offer Code (Promo Code):

Canada

OR Click Here to Use this Offer Code at Questrade

Note: Input the above promotional offer code (colored in red) into the “Offer Code” input box when signing up for a new account at Questrade.com. Enjoy your FREE $50!

Check out this detailed Questrade Review

Investment Tip of the Day

The Wonders of HELOC

HELOCMost people have heard of a Line of Credit, but less know what a HELOC is. A Line of Credit is an agreement between a lender and a borrower (usually through a bank) for a loan that is to be paid back over a stretch of time with a specific interest rate attached to it. In most cases Lines of Credit aren’t really secured (but they can be) beyond looking at ones credit history/score. Because of that non-secured lines of credit tend to carry higher interest rates.

HELOC or Home Equity Lines of Credit is a secured version of a loan, using one’s home(s) as collateral. Because it is secured interest rates for HELOCs tend to be much lower than other types of loans. There are numerous types of HELOC offers/deals but in every one you only get charged interest upon using funds from this loan. However, some of these loan contracts may demand that you withdraw a minimum amount each month, ensuring interest payments to them. There is a set time frame when you are permitted to draw money, known as the draw period.

Withdraws from a HELOC can be done with assigned cheques or even through specialized credit cards for customer convenience.

Interest rates on HELOC vary with market conditions and so although you may take out a loan at one rate, one can expect this rate to go up and down throughout its existence.

Repayment methods and frequencies vary by provider. Some may demand you pay a lump sum at the end of its time frame while others may set specific amounts that are paid at consistent intervals. The moment you stop repaying is when the HELOC ends and potential foreclosure begins.

Unlike personal loans and credit cards, the interest on your home equity financing may be tax deductible. It depends on what that loan is used for. If it is towards earning income from a business or property then it is tax deductible thereby reducing the homeowner’s earned income and tax rate.

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