Looking for Quick Payday Loans Without Faxing in Canada? Apply and get short term cash loan up to $1000.

 
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Online payday loans for Canadians offers quick and affordable cash advances with high approval rate through out Canada, select your province / territory to check the availability of cash lenders in your area to apply for a loan you deserve and to receive fast cash direct into your bank account!
This secure application is provided by T3Leads, please remember; payday loan is a "high cost short term credit". Warning: Late repayment can cause you serious money problems. eLoanCanada.com is not a lender and or consultant but an information site that offers resources and news about financial products and services available in the market - affiliate disclosure.

Reverse Mortgage Canada Pros And Cons

Reverse Mortgage Canada Pros And ConsLooking to get a reverse mortgage? Reverse mortgage calculator may have shown you a nice financial benefits; in deed its one of a valuable retirement planning tool that can show you a great increase in your retirement income against your asset being as a homeowner, but you have to carefully compare the benefits against all the reverse mortgage downsides in relation to your personal financial situation.

What is a reverse mortgage in Canada? A reverse mortgage Canada is a secured loan that is designed for the senior homeowners aged 55 years, and older. A reverse mortgage is secured by the equity in the home, which is the difference between the value of your home and the unpaid balance of any current mortgage. It allows homeowners to obtain cash without having to sell their home. Homeowners may be able to borrow up to 55% of the current value of their home. The agreement is a “life-term” loan, which is a loan for either the lifetime of the owners or the life of the ownership of the home.

Reverse mortgages have got very attractive and convincing claims that are being used by marketing campaigns like; enjoy your financial freedom, borrow tax-free, obtain the money now, remain independent, and renovate your house while staying in your home, where your home will continue to appreciate in value. Never make your decision to get your reverse mortgage loan before exploring your other suitable options; shop around, compare the costs and study its impact on your life. Moreover, don’t forget to ask questions to your lender about reverse mortgages in light of your own personal financial position and other doubts you may have prior to taking the loan. Government of Canada have already written down about the important questions that you should ask your lender that would help you in making decision, the link to the page is provided at the bottom.

Before you make your decision to get a reverse mortgage, make sure you consider the advantages and disadvantages carefully; following are some of the pros and cons of reverse mortgage Canada:

Pros

  • You don’t have to make any regular loan payments
  • You may turn some of the value of your home into cash, without having to sell it
  • The money you borrow is a tax-free source of income
  • This income does not affect the Old-Age Security (OAS) or Guaranteed Income Supplement (GIS) benefits you may be getting
  • You still own your home
  • You can decide how to get the funds

Cons

  • Interest rates are higher than most other types of mortgages
  • The equity you hold in your home may go down as the interest on your loan adds up throughout the years
  • Your estate will have to repay the loan and interest in full within a set period of time when you die
  • The time needed to settle an estate can often be longer than the time allowed to repay a reverse mortgage
  • There may be less money in your estate to leave to your children or other beneficiaries
  • Costs associated with a reverse mortgage are usually quite high compared to a regular mortgage

To get more in depth and up-to-date knowledge of the subject you should consult the Government of Canada website; get all the information about the reverse mortgages Canada.

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Can You File Quebec Income Taxes Free With The Tax Software?

Can You File Quebec Income Taxes Free With The Tax Software?Each Canadian province has its own unique tax considerations that requires tax software developers to include forms and procedures specific to Quebec. Where the Canada Revenue Agency certifies tax preparation software for use with its NETFILE electronic tax filing program, this was true before the certified software package may not cover the entire country, including Quebec. There are lot of questions people from Quebec put forward online about when these people will get a chance to file their Quebec income taxes free with the Tax Software. TurboTax is one of the best Canadian tax software that has solved the problem, and now Quebec residents can file free tax returns with TurboTax Quebec version. Here’s the good news that has specially selected for the people that wanted to use their favorite tax software to file Quebec tax return online.

TurboTax Free is Now Available in Quebec
Last modified: January 6, 2017

TurboTax from Intuit Inc. has been the best-selling tax software in Quebec for over 20 years. New this year, Québec residents can prepare and file their federal and Québec taxes at no cost with TurboTax Free.

Whether taxpayers want to prepare their return on a computer, smartphone or tablet, TurboTax Free delivers anytime, anywhere access with the ability to seamlessly start, stop and continue across devices. What could be smarter?

Worry-Free Tax Preparation

TurboTax Free is all about putting easy, worry-free tax preparation into the hands of millions of hard-working Canadians. Quebecers are exceptionally enthusiastic, with an overwhelming 82% finding enjoyment in tax preparation according to a recent national survey conducted by TurboTax.

Ease and Convenience

  • Like all TurboTax products, TurboTax Free delivers ease and convenience so customers can be confident they’re getting every dollar they deserve. A fresh, intuitive design and simple instructions make it easy for customers to enter their personal information and select their tax slips.
  • TurboTax Free suggests slips, based on an individual’s unique tax situation, so they can get every deduction and credit they deserve. If Quebecers receive a tax refund, they are most likely to spend some and invest the rest.
  • If customers have questions, they can get answers 24/7 right in TurboTax Free, or from a community of experts and other contributors.

With more than 20 years’ experience helping Canadians file their taxes confidently and get all the money they deserve, TurboTax products, including TurboTax Free, are now available at TurboTax.ca.


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We hope you have enjoyed the news for more information and updates you may directly go to the news link; https://turbotax.intuit.ca/tips/turbotax-free-is-now-available-in-quebec-5746; TurboTax Free is Now Available in Quebec. You can now file your Quebec income taxes free with the tax software; TurboTax Quebec! Done your taxes smarter with the tax software Quebec, we wish you best of luck and enjoy.


Bank Of Canada Holds Benchmark Rate Steady At 0.5 Per Cent In 2017

Bank Of Canada Holds Benchmark Rate Steady At 0.5 Per Cent In 2017The Bank of Canada is holding its benchmark interest rate unchanged at 0.5 per cent and providing a deeper concern on the risks associated with the big economic changes expected to come out of a Trump presidency. On one side central bank’s keeping on with the same interest rate shows improvement signs of Canadian economy but it also warn uncertainty attached due to potential policy changes expected from the United States, after all we are the largest trading partner.

Following is the news article from Mortgage Intelligence is especially selected for the blog readers that are looking to get especially a mortgage in 2017 at the same lower rates, although, it’s been expected to stay benchmark interest rates low in Canada till 2020 with a possibility of further cut down in rates if the Canadian economy continues to contract:

Bank of Canada holds benchmark rate steady at 0.5%.

Mortgage Intelligence
12.07.2016

Bank of Canada holds benchmark rate steady again.

The Bank of Canada announced today that it is holding the benchmark interest rate unchanged at 0.5%, noting that “growth in the 3rd quarter rebounded strongly, but more moderate growth is anticipated in the 4th” and that “a significant amount of economic slack remains in Canada.” Bond yields have crept higher since the U.S. election, reflecting “market anticipation of fiscal expansion in a U.S. economy that is near full capacity.” Higher bond yields have caused our fixed mortgage rates to rise in conjunction.

This fall, the Ministry of Finance introduced four new mortgage tightening measures intended to cool the housing markets (aimed primarily at Vancouver and Toronto), reduce foreign investor home flipping, and control the levels of Canadian household debt. The Ministry also has introduced risk sharing on mortgages for the Chartered Banks which puts upward pressure on mortgage rates as lenders need to set aside higher levels of capital for certain types of funds. More than half of Canada’s $1.4 trillion home loan market is made up of insured mortgages with all of the risk on the Canadian taxpayer – and that is now changing. On November 1, one of the Chartered Banks’ mortgage prime rate for variable mortgages jumped 0.15 points to 2.85 per cent, and it’s expected others may follow.

The Central Bank has predicted throughout 2016 that it expects oil prices and the Canadian dollar to stay close to the $49 US for a barrel of crude (currently around $51.85 US per barrel at December 5th), and 77 cents US for the Canadian dollar (currently at 75 cents US at December 5th). Low interest rates help keep the Canadian dollar low which in turn aids our export market, however global demand for our products has stalled. The European Union members’ debt crisis, global oil-price collapse, and Brexit have undermined markets and consumer confidence. In addition, the uncertainty over our trade position with the U.S. as a result of the U.S. election is expected to delay capital spending and business investment in Canada.

We expect to see interest rates staying low in Canada well into 2020 and the benchmark interest rate can be cut further if the Canadian economy continues to contract. The Bank of Canada believes it must continue its monetary policy of ultra-low rates to control inflation, stimulate other sectors of the economy besides housing and spur our Canadian export market.

Professional mortgage advice has never been more important. Get in touch today for expert mortgage advice tailored to your situation and local market conditions, and access to as many options as possible if you are planning a purchase, or want to use today’s low rates to refinance and save thousands by moving your high interest debt to your low-rate mortgage.

Bank Of Canada holds benchmark rate steady at 0.5 per cent in 2017; lets see what unknown big economic changes of Trump presidency may bring any change to our financial forecast. Hope for the best, good luck.

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Save More And Spend Less In 2017

Save More And Spend Less In 2017 - Earning vs SpendingYou may be expecting 2017 to be a stress-free year; why not, you can achieve your goal as being a financially strong individual for the next 12 months, most of the people do it and why not you, right. You won’t have to worry so much about because once you would do your financial planning right, you would always would do it right in future.

Save more and spend less, and or save more to spend money without being worried of the cash shortage on getting basic and important things of life; this is what most of the people use to think after spending the holiday season. December is the last but an expensive moth in relation to spending, Christmas, New Year and above all big discount offers of various kinds make it confusing to the general public that didn’t properly make, care and follow their budget. Ending year moments in the last month sometimes also create financial worries for those who strictly obey their yearly household budget but due to festive eve spending environment these people easily supersede their spending; after all it’s a moment of happy get together with the family and love ones, moreover, big sales over the very important and basic household products make over spender to even a budget abiding families.

Your credit card may become the major reason of being over spending; being in a credit card debt is the thing you should properly control, don’t over cross your spending because of the reason you have more cash limit over your credit card, only spend that portion of the credit you can afford paying back. Getting into credit card debt can lower your credit score. Try to pay off your credit card payment in full and within the time limit. Moreover, if you already had dropped your credit score due to your debt, it’s critical that you work to get it up again. Remember, your credit score is an important factor that determine your success in having any sort of loans and on the best rates because having a bad credit score means you can easily turned down your credit request, and or you will be asked to pay a high interest rate over your loan. What if you need to borrow a large amount of money? You can’t because it’s the lender that will determine.

Everyone should save more and spend less! When it comes to make a budget there is only one magical phrase “save more and spend less” and the only person that can follow it accordingly is ‘you’. If you have debt then create a post-debt budget for next 12 months, it’s not difficult, you know how you are doing each month and if some of the months require more money to spend then divide your income accordingly among all the months but don’t forget have some savings every month. Spending more money because you have more disposable income is not right. You may have some of the financial goals for the year 2017 but don’t forget about the uncalled and accidental expenses, create a financial plan that holds emergency funds to cover up all sort of financial crises, what so ever. Moreover, you should make a financial plan for you in advance by yourself or consult an accounting and financial adviser to get professional guidance to have the right direction.

I wish you could follow the save money concept, manage and maintain your cost of living, control your spending habit in relation to your earnings and have a credit balance that you would carried forward next year and continue the same every year.  eLoan Canada extend it’s best wishes for a happy holiday season and a New Year filled with Peace, Joy and Financial Success!.


How To Get A Car Loan With Bad Credit Canada

How To Get A Car Loan With Bad Credit Canada?Most of the people are curious to find out the question; how to get a car loan with bad credit Canada? The simplest answer is; lenders that accept bad credit loan applications, and most of these lenders are looking for the basic car loan requirements, if you fulfill you’ll get it, you can find these bad credit car lenders online. Above all you may also get advantage of no down payment, and or no cosigner needed to apply for your auto loan. Today’s borrower’s has become really smart in term of asking questions according to their financial status but they should always take care of their over spending too. Anyway; some of car loan seekers also ask multiple things while putting a single question like; how to get a car with no credit and no cosigner and no down payment? They are asking three things in one sentence, isn’t it interesting? This is what they have learn online; I wish the new generation would learn to keep them in their means and no one would come under poor credit rating because your good, and or excellent credit ratings mean getting best possible rates and terms over your loan.

There are many different reasons of being into bad credit situation but you still need a car that will save your time and expenses to go to your workplace!

There is good news for you because you’re not alone and get stuck with bad credit. There are still options for people that require special kind of financing. Despite your poor credit history, which will obviously make an effect in determining which lenders you’ll be able to work with and the kinds of car loans you will qualify for, Canada Auto Finance is dedicated to finding you the best vehicle for your budget; sounds great!

How to get a car loan with bad credit Canada requires very basic requirements and are the primary concern for lenders that need to see your ability to afford payments. Even with bad credit, applicant is required to satisfy the lender that car borrower should be capable of making payments over the period of loan and afford the vehicle in due course. To avoid the possibility of getting rejected, these are the 5 basic car loan Canada requirements that you need to fulfill to get a good or bad credit loan Canada.

  1. Employment or Income
  2. Driver’s license
  3. Current address
  4. Bank account
  5. Down payment

For all those that comply with these above 5 basic car loan Canada requirements, they have a better chance of getting a car loan in Canada. For all the necessary information and documents that are required to get the process started, you should consult with your lender prior to your car loan application. If you’re applying through secure online form that will take only a few minutes to complete.

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How Can Mortgage Prepayments Save You Thousands On Your Mortgage

How Can Mortgage Prepayments Save You Thousands On Your Mortgage?How to save thousands of dollars on your home mortgage? Mortgage prepayments can save you thousands of dollars over the years! If you’re unsure ask your lender about your eligibility, you are allowed or not. A prepayment or lump sum is an amount that you pay extra to your regular payments to reduce your liability or pay off the debt balance. It’s like getting down your interest rates over your payment for the term by making your payments earlier. Increased mortgage payment vs lump sum is nearly same and depends on your circumstances and or financial condition, whatever you consider, should be wise and beneficial. How can mortgage prepayments save you thousands on your mortgage? Following is an article especially selected from official website of Financial Consumer Agency of Canada for your consideration and better results.

Mortgage prepayments can save you thousands on your mortgage—but check first

Making prepayments on your mortgage could save you thousands of dollars over the years—as long as your mortgage lender allows them.

A mortgage prepayment is any amount you pay in addition to your regular payments. This can include increasing the amount of your regular mortgage payments or making a lump-sum payment to reduce or pay off your mortgage balance.

The sooner you can make prepayments, the less interest you will pay over the long term.

For example, consider a 25-year mortgage of $150,000 with a 5.45% interest rate. Assuming the interest rate remains the same over the life of the mortgage, the monthly payments would be about $911. Increasing the payments by $50 per month would pay off the mortgage two years sooner and save $14,000 in interest.

A one-time lump-sum payment of $15,000 in the second year of that same mortgage would result in paying off the mortgage more than four years earlier and saving over $33,000 in interest.

Check your mortgage agreement first, because not all mortgages have prepayment privileges. A closed mortgage may require you to pay a penalty or fee for any prepayment.

Federally regulated financial institutions, such as banks, must show your prepayment options in an information box at the beginning of your mortgage agreement. It will specify whether you can make prepayments, when you can do so, plus other related terms and conditions. Read your mortgage agreement carefully, and before signing ask the lender to explain anything that you don’t understand.

When shopping for a mortgage, ask the following questions:

  • How much can I prepay without penalty or fee?
  • Is there a minimum amount for a prepayment?
  • When can I make prepayments?
  • Are there any conditions or limitations?
  • If there are fees or penalties, how much are they, and how are they calculated?

The Financial Consumer Agency of Canada has more information on this topic at itpaystoknow.gc.ca.

Source: Financial Consumer Agency of Canada (FCAC)
Date modified: 2015-06-25

Related articles:


How To Learn The Total Costs Of Homeownership? FCAC Explained

How To Learn The Total Costs Of Home Ownership? Mortgage Cost Canada An OverviewWhen it comes to determine costs associated with homeownership, you’re mostly got an impression about how much your monthly mortgage payment will be when you take out a mortgage to buy a home. However, there are some hidden costs of homeownership that will add up in your monthly cost soon in the process. How much does it cost to own a house? Buying a home is an expensive that require you to find out your affordability, and or creditworthiness prior to taking out the mortgage loan. Here in this article you will find; how to learn the total costs of home ownership? Following is an overview on taking out and determine the true cost associated with the mortgage to buy a home in Canada, especially selected from Financial Consumer Agency of Canada that will help you in learning about the total costs associated to become a home owner; it’s brief and to the point:

Half of Canadians who plan to purchase a home think they will only need to cover the down payment to move in. The “closing costs” however, can add as much as another four percent of the total purchase price of the home

Closing costs can include:

  • legal or notary fees
  • land registration fees
  • municipal levies
  • surveys
  • appraisal fees
  • home inspection fees
  • utility hook-ups
  • title insurance
  • property tax and utility adjustments.

Additionally, if your down payment is less than 20 percent of the price, you will have to pay for mortgage default insurance plus the provincial sales tax charged on it.

For a $300,000 home, closing costs could range from $4,500 to $12,000. Other up-front payments that may be required include moving expenses and the real estate costs for selling your old home. Even redirecting your mail is an added expense.

A complete guide to the finances of home-buying is available on the website of the Financial Consumer Agency of Canada at ItPaysToKnow.gc.ca.

Source: Financial Consumer Agency of Canada (FCAC)
Date modified: 2015-06-30

How to save thousands of dollars in home financeing? There are various factors that can save you, where your real and total costs associated with your home ownership will determine your real savings, you may please consult your mortgage consultant to find one best deal for you. For more information and updates on “total costs of homeownership”, you may please go directly to the official website of Financial Consumer Agency of Canada (FCAC).

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Who Is Refresh Financial?

Refresh Financial Canada Exposed

Who Is Refresh Financial?

Refresh Financial is a small Canadian company devoted to changing the lives of Canadians for the better. You’ve probably heard a few organizations say that before, though, haven’t you? It’s kind of a buzz phrase. Does it even mean anything anymore when a company says they want to help change lives or is it just marketing fluff?

Well, this phrase actually means everything to us. We’re a people-focused company. In fact, people matter a great deal at Refresh Financial. We don’t just see the power in people, but we push for it. We really fight to bring out that power in each and every one of our clients. We fight for the little guy… and the big guy, and everyone in between. You see, to us, everyone deserves financial security, regardless of age, gender, country of origin or social standing. We see in you, no matter who are, the ability to create security for yourself. All you need are the right tools and a little support.

We’re not promising you effortless riches; we’re not selling some magic solution to all your financial woes. What we do, instead, is guide you through the savings process, and train you to meet your goals. It takes time. It takes patience. It takes work, but by the end of the process, you’ll be well on your way to living with financial security, decent credit, and room to finally sit back and breathe.

So, how does Refresh do this? With a credit building, secured savings program. As you pay into the program, we report back to the credit bureau that you’re making your payments. It’s important that during this process, you manage any and all other credit you may have elsewhere. Doing so will ensure that our positive reports to the credit bureau will help to build your credit score up. Each payment that is made is a boost to your credit and by the end of the process, not only do you get to keep the majority of the money you’ve saved up, but you’ve also got a better credit score.

We know you’re busy. We respect that, so not only have we set it up so that you can manage your Refresh program entirely online, but you also get access to our exclusive online F.I.T. program that you can use anytime, anywhere (there’s internet, that is!).

F.I.T. is Financial Intelligence Training. It might sound a little scary, but trust me, it’s not at all. It’s all online, and available to you, a Refresh customer, through short little videos that run between three to five minutes. You can watch them at your own pace and come away from them having learned a metric tonne about personal finance: from the most commonly believed myths, to successful goal setting, and even how to manage and build your wealth. Only our clients have access to this exclusive financial knowledge base, and only our clients can learn to be a money saving boss while enjoying the comfort of their own couch and the warmth of a cup of joe.

Our goal is pretty clear: we just want more Canadians to have a bright and stress-free financial future.

We’re pretty proud around here. Proud of the assistance we’ve offered to thousands of Canadians, proud to be able to offer you this unique and effective service, and proud to see our clients go on to achieve their financial goals. This isn’t just a great place to rebuild your credit, it’s also a really great place to work. Going home every day knowing that you spent the day working towards financial stability for many thousands of Canadians? It’s absolutely priceless.

I guess, to make a long story short, we’re transformation specialists here at Refresh. We believe in your potential to grow, learn and reach your goals. It’s really, really hard not to believe in the immense power of change when we see so many people do it, each and every day we come to work. No matter who you are, where you come from, or what your circumstances in life are, Refresh Financial has got your back.


What Makes Lowest Rate As The Best Mortgage Feature

How To Get Lowest Mortgage Rates? Lowest rate as the best mortgage features.How To Get Lowest Mortgage Rates?

Mortgage is one of the largest life time investment that can save you thousands of dollars if you do it right. Most of the consumers looking to get an ideal deal, spend their full effort on studding variety of essential mortgage features, it’s not bad because every feature is equipped with some positive things that can help you in going through with your long term investment/loan smoothly and successfully but you should always first concentrate on mortgage feature that determine interest rates over your mortgage, don’t bypass your very first and important question that can award you the cheapest mortgage interest rates; how to get lowest mortgage rates?

Mortgage rates history statistics can show you the highest and lowest mortgage rates in Canadian history and it will not help you in finding out how many customers have taken advantage of getting best rates at that time but there were lot more mortgage borrowers that didn’t get lowest mortgage rates at that time when it were historically lowest only because they didn’t compare mortgage rates to get lowest rate; yes, mortgage rates comparison is one of the best mortgage features to get best mortgage rates that should not be neglected in any case, shopping around help home-buyers to earn a great deal.

Lowest rate feature is the best among other essential mortgage features! According to the consumer’s surveys and study; Canadians have been considered as a slow adopters to the online interest rate comparison sites but with the time now online surveys start showing more than 50 per cent of Canadian mortgage customers have become more aware of the fact that lowest rate feature is one of the best mortgage features, Where Bank of Canada study found justifies the statement, lowest rate as the best mortgage feature; “mortgage customers that don’t compare mortgage rate, pay $759 to $1617 in their premium on said home financing”.

Compare mortgage rates to get lowest rate has become so easy and fast today, you can get all the current rates and, promotional offers, live news and all the related information online. Take some time to collect rate offers of various including your favorite mortgage lenders, brokers, and or banks from their sites and as well as check other interest rate comparison web sites to select an affordable and ideal deal accordingly. Moreover, to get better rates and savings you should try to become better informed about your choices and also compare prices with other features, read the fine print on contracts and keep looking at the upcoming news. Don’t you think? Internet has made it easy for you to shopping around that’s the well worth your effort, online environment is the best option to fetch most current mortgage rates for fixed and variable mortgages and the further developments in the due course, and before taking decision, don’t forget to get all the answers to clear your doubts, when you felt ready negotiate your price once again to get lowest mortgage rates possible; after all its one of your largest life time transaction.


MBNA Smart Cash MasterCard Credit Card Canada – MBNA Smart Cash Credit Card Review

MBNA Smart Cash MasterCard Credit Card Canada - MBNA Smart Cash Credit Card ReviewDo you like earning rewards on all of your everyday shopping need? MBNA Smart Cash MasterCard® Credit Card Canada is one of the best cash back credit card that let you save on your most common purchases. Household shopping is an essential and common between employees and business class where it offers up to 5% cash back on gas and groceries, that’s the reason saying MBNA Smart Cash MasterCard Credit Card Canada as a credit card for all may not be wrong. MBNA Smart Cash Credit Card Review supports household shoppers, here’s are some card details;

  • Get up to 5% cash back on eligible gas and grocery purchases for the first 6 months.
  • Get up to 2% cash back on eligible gas and grocery purchases thereafter*
  • Get up to 1% cash back for all other eligible purchases*
  • 1.99% promotional annual interest rate* (AIR) on balance transfers* for the first 10 full months
  • If eligible, you will be considered for an upgrade to a Smart Cash World MasterCard® credit card
  • No annual fee

MBNA Smart Cash Credit Card Review

If you like earning rewards on your everyday purchases then MBNA Smart Cash Credit Card may be your best deal. You will earn 5% cash back every time you visit the grocery store or fill up at the gas station – one of the highest cash back earning rates in Canada. MBNA Smart Cash MasterCard® Credit Card let you entitles cash back rewards at this special rate for the first six months on all gas and grocery purchases then after it drops to standard two per cent rate after initial promotional period of 6 months. The MBNA Smart Cash Credit Card also offers 1% cash back on all other purchases. Once your earnings reach $50 MBNA will cut and mail a cheque to you as a cardholder.

Here are two awards that MBNA Smart Cash Credit Card won last year:

  1. Best of Finance 2015; 3-Peat Winner for “Best Cash Back Credit Card
  2. Best of Finance 2015; Runner Up for “Best Cash Back Credit Card in Canada

There is nothing that don’t holds disadvantages with the advantages, MBNA Smart Cash MasterCard Credit Card Canada may also offer you some features that you don’t like, it’s up to you to find out your favorite features that suits you before taking decision to get the right credit card according to your need. Here’s are some pros and cons of having this credit card;

Pros

  • No annual fee
  • Receive 5% cash back on gas and groceries for the first six months.
  • Earn 2% cash back standard rate on gas and groceries after six months.
  • 1.99% intro Balance Transfer Rate for the first 10 months.
  • Receive a cheque by mail for your earnings reach $50

Cons

  • Your cash back earnings will drop 3% after initial 6 month promotional period as cash back drop at standard 2% cash back.
  • 1% earning rate on other purchase types is lower than similar cashback cards in the market.
  • It doesn’t include any built-in insurance benefits or retailer discounts.
  • Rewards can only be cashed out at a minimum of 50 dollar.

Conclusions and Suggestions

There is no doubt about the MBNA Smart Cash MasterCard being the best Canadian Cash Back Credit Card but taking decision is a real challenge especially when market offers variety of cash back credit cards and if you compare; 5% cashback on all gas and grocery purchases within the first 6 months is one of the top features of the MBNA Smart Cash MasterCard Credit Card Canada that makes it one of the best cashback credit cards with no annual fee among its competitors, as this rate just come down to standard 2% cash back after 6 months, to enjoy full benefits of this offer you should confirm your card’s intro period should cover the holiday season and special occasions when your spending increased a lot because this way you can earn more cash back. Moreover, 1.99% balance transfer rate for the first 10 months is another top features of this card but before activating this feature you should keep in mind; it will waive the initial grace period on new purchases; being charged interest right away will wipe out your cashback earnings.

*For more information, updates and how they did it; cash back earnings on food, gas, travel and other things, you should click here to read the landing page that holds official credit card offer for; MBNA Smart Cash MasterCard® Credit Card.


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