This week Tangerine unveiled details of its long-awaited first credit card; the Tangerine Money-back card. Expected to launch in early 2016, this no-fee MasterCard will offer 2 percent cash back in two spending categories of your choice, and the option to have your cash-back deposited into a Tangerine Savings Account to unlock an additional 2 percent category.
In other rewards news, Capital One made some ground-breaking changes to its Aspire Travel cards by eliminating the tiered structure for redeeming points and allowing partial redemptions, for example the ability to redeem half of an overseas flight.
But before you go off and apply for what might already be the best value travel rewards card in Canada, you should know that in a few weeks Capital One will introduce a new 40,000 point early spend bonus on its flagship Aspire Travel World Elite MasterCard, worth up to $400 in travel rewards, when you spend $1,000 on the card in the first three months. Check my Rewards Cards Canada blog for more details on when that offer gets released to the public.
While Capital One enhances its rewards program, TD is devaluing its TD Travel Rewards Program – which affects TD First Class Visa Infinite cardholders. Starting November 15th, it will take 250 points to equal $1 in travel savings – a 20 percent reduction in value from the previous rewards structure.
This week’s recap:
On Monday I wrote about the worst financial advice ever given to Millennials.
On Wednesday Marie started a new series – financial management by the decade; a look at the teen years.
On Friday I shared a conversation about Gen Y money.
Financial Uproar wrote about a topic familiar to Boomer and me: Should parents buy a house for their kids while they’re at college?
Former Nortel employee Alan Whitton says his biggest purchase was not his house, but a pension buyback.
Many of us have our financial awakening after experiencing some kind of shock to our finances, whether it was losing a job, coming up short for rent, or facing an unexpected tax bill. Carl Richards explains three ways to trigger your financial wake-up call without experiencing the trauma of an actual shock.
Money Time blogger John Ryan looks at the difference between needs versus wants, which often lies in-between “survival versus luxury”.
An argument against the core-and-explore investing strategy, James Osborne says the “explore” part of your portfolio should come with a warning label:
“WARNING: THE ACTIVITY YOU ARE ABOUT TO UNDERTAKE IS ALL BUT GUARANTEED TO INCREASE YOUR PORTFOLIO COSTS, INCREASE TAX DRAG AND REDUCE YOUR LONG-TERM RETURNS. YOU ARE EXTREMELY LIKELY TO DO A TERRIBLE JOB AT TIMING THIS TRADE AND YOU SHOULD RECONSIDER IF STAYING IN A LONG-TERM POSITION WILL BE BETTER FOR YOUR INVESTMENT RESULTS.”
Many hedge finds have a fee structure called 2-and-20, where investors are charged a fixed 2 percent, no matter how well the fund performs, and a 20 percent performance fee for any profit over-and-above its benchmark. The Globe and Mail’s David O’Leary explains why performance fees are a scam.
The Motley Fool’s Morgan Housel looks at the tyranny of the calendar, and argues that one-year returns are a useless metric for measuring investor performance.
A Wealth of Common Sense blogger Ben Carlson pulls out some Frank Underwood, House of Cards, wisdom on how to prevent the next crash.
Helaine Olen says financial advice aimed specifically at women sounds like a great idea, but misses the mark.
Jason Heath answers a reader question about retiring in a down market.
Cait Flanders takes a creative choose-you-own-adventure approach to her finances.
Finally, a 15-year veteran banker offers up 10 pieces of advice about money.
Happy Thanksgiving weekend, everyone!