Investorial

InvestorGeeks recently ran an analysis on the spread between credit card interest rates and the American prime lending rate. I feel dirty and used after reading the article. That’s not because of whatever Chris wrote, but because those numbers brought up deep-seated resentment about the Canadian financial services industry.

I’ve blogged critically about high Canadian brokerage commission fees. I can also look past our high tax rates for the reciprocated services. But when I hear complaints about how gas and oil companies are making record profits hand-over-fist, I wonder why Canadians are letting banks get away with the same thing. We are so eager and willing to hand over our money, yet nobody ever questions the sanity of the status quo.

I’ve searched the credit card interest rates offered by the “Big 5″ Canadian banks so that you don’t have to! (more…)

Big Cajun Man blogged about how his daughter was learning about credit cards and interest rates over at Canadian Financial Stuff. I commented that it is a great idea to get young people learning to respect their credit and building their credit score. However, I was confused by a myth (not the big myth I’m still working on busting tomorrow!) that I heard regarding the right way to build your credit score.

Is it better for your credit score to pay off your entire credit card balance each month or to carry a balance and never miss a payment?

Military Money has the answer! (Got to love that site’s title!)