Credit Cards – My Study Times

MogoMoney Review: Get Personal Loan Approved in 3 Minutes*

MogoMoney Review– Do you know to get your loan approved in 3-minute minutes*? Simultaneously, it is also important to learn various diagonals of such financial organization which is granting loans as accurately as possible.

MogoMoney is one such fintech company that provides unsecured loans which are flexible in nature and could get approved within a span of 3 minutes. Following is the article that brings awareness on various benefits and drawbacks of MogoMoney including the special features.

What made Mogo so Unique?

MogoMoney is a financial technology company that evolved in a unique way in terms of money management. It renders services sustainably considering the health & status of society, planet, and finance respectively. It holds around 1.6 M+ Canadians as customers and is counting till the date. MogoMoney is standing as a reference to personal loans as well as credit products. Mogo technology administers various services in the long run such as granting loans, free credit score, bitcoin, mortgage services, wealth development, and many more.

Grants personal loans
Provides a platform to access free credit score
Enables for Investments in Bitcoin
Renders mortgage services
Supports in savings and developing wealth
Planet-friendly Mogo card
Facilitates ultimate privacy & protection

Why Choose Mogomoney?

Mogo is providing unsecured loans which are flexible in terms of interest rates as well as in advancing loans.

Providing a maximum loan amount of $35000 including pre-approving policy within a span of 3-minutes. Admitting favorable fixed interest rates from a minimum of 9.9% to 47.42%. A minimum loan amount is $500 to $3500. It endures both from a short-term period loan of 6 months to a long-term period loan of 60 months. Appreciatively, Mogo loans are offered with
a NO-Security deposit in exchange.

Mogomini provides availability of credit products in particular to the residents of AB, BC, ON, MB, NB, NL, PE & NS.

MogoMoney Pros

Loan Flexibility

Borrowers are owed the potential to repay the loan amount at any period of time.

Free- Three’s

Irrespective of the customer is holding any kind of loan he/she is facilitated with various complimentary such as:

100-Day Test Drive

Borrowers will have the potential to borrow the loan for a trial period of 100 days.
If the borrower is not pleased in any kind, he/she is independent to repay the loan amount only before the trial period. ends.
Also receives the incurred interest amount, taxes, or fees

Distinctive Terms & Interest Rates

Customers can borrow a loan between $300 – $3500
Based on the credit score, the borrower is allocated with the interest rates accordingly.
Interest may vary between 9.9% to 47.42%.

MogoMoney Application Criteria

Ahead to apply for a Mogo loan it is mandatory that one user/borrower should be eligible for the following criteria:

Residence:

It is the significant one among the eligibilities that the user must be a resident of Canada. A fact is that even though the people of Saskatchewan and Quebec
are residents of Canada they cannot undertake loans because Mogo loan is not open at previously mentioned locations.

Credit Scores:

The credit scores in MogoMoney play an important in the allocation of interest rates from person to person. Basically, the poorer the score is the higher the rate and vice versa.

Credit Profile:

It is advisable that the credit profile of a borrower should be decent as it acts as the basis for the management in evaluating the rate of interest.

Subsequently, if you are eligible in all the above categories firstly, create a free account in order to appear for a personal loan. Secondly, the borrower will be encountered with a set of questions to which he/she should be answerable. Accordingly, the borrower will be attested with a response in 3 minutes. Lastly, to complete the application process the following necessities are significant:

$13000 as minimum net income annually
A minimum of 30 days as of steady employment
Verification of Bank Account
Government-issued ID – Soft copy
Age of the majority under their particular province

MogoMoney Downfalls

Mogo lacks effective customer services based on the reviews of customers/users.

Inaccessibility on third-party loans in respect to the 100-day trial.
Interest rates tend to be irrational as the maximum rate exceeds 40%.
Mogo services are narrowly available at limited locations in Canada.

Conclusion – Mogomoney Review

MogoMoney is one such fintech company that provides unsecured loans which are flexible in nature and could get approved within a span of 3 minutes. In addition, to get a loan, you can monitor your credit for free and you can have your Mogo Card.

*Terms & Conditions Apply

Frequently Asked Questions

Is MOGOMONEY legit?
Yes, Mogomoney is a Legal and trusted company.
What are Mogomoney Contact Details?
Live chat support is currently only offered for:
Mogomoney Loan application processing Monday – Saturday: 9 AM-5:30 PM EST
Can I pay my loan off early?
Yes, You can Pay off your loan anytime.

Credit Cards: Meaning, Advantages, and Disadvantages

MEANING OF CREDIT CARD

A credit card is usually a plastic card that a financial institution issues to its customers so that the latter can have access to credit facilities. The Western Union established the first credit card company in the 1920s. Modern credit cards can be used for making purchases at most retailers, for shopping via the internet, and for making cash withdrawals from ATMs. An individual can derive a plethora of benefits from using a credit card. A credit card is also not free from drawbacks. Let us have a look at the pros and cons of credit cards.

ADVANTAGES OF CREDIT CARDS

1) Credit cards are convenient to use for transactions involving a large amount of money.

2) They are light in weight so hence they can be carried with comfort while traveling.

3) The customers usually love places where they can avail credit facilities. This indicates that they would show loyalty to the financial institutions.

4) One cannot use someone else’s credit card without the permission of the holder. Therefore the former cannot steal the money of the latter.

5) One is not required to waste time going to the bank or the ATM for withdrawing money to make a payment.

6) There are many credit card issuing institutions that offer discounts for attracting people to use their credit cards. The discount is dependent on the amount of purchase.

7) Credit card statements can aid the holder in tracking his/her expenses. Some credit card providers make year-end summaries available to their customers which are of great help for tax assessment purposes.

DISADVANTAGES OF CREDIT CARDS

1) Sometimes the credit cards of many users are hacked and large amounts of money may be added to their accounts.

2) Credit card issuers charge some interest on the credit cards. This indicates that a credit cardholder will have to pay more than the amount used by him/her.

3) One cannot see the money is depleted. Therefore it is highly probable that there are chances that a credit card user will misuse his/her money thinking that he/she still has more.

4) Credit cards can only be used in selected areas. This means that credit cards are not accepted by all vendors so a user is going to face such inconvenience.

5) Credit cards are usually given to people enjoying a high standard of living in society. They are not meant for the poor people and illiterates living in the society.

6) When one loses his/her credit card, he/she will have to pay some amount of money to get a replacement of the same.

7) A credit card user needs to keep his/her receipts and check them against his/her statement every month. In this way, one can make sure that he/she has not been overcharged by the credit card issuer.

CONCLUSION

Credit cards are very good to use but one should be careful while using them same. One should keep it safe and make sure that nobody knows the PIN number of the credit card. Letting others know the PIN details of a credit card is inviting someone to steal one’s money. A credit card can either help a person or hurt him/her depending on how he/she uses the same.

5 Best Store Credit Cards in Canada

Are you a Shopping lover? And, you are not able to shop every day just because you are afraid of your financial situation? Then, don’t worry Best Store Credit Cards Canada is your best Saviour. As it comes up with exciting offers, rewards, and cashback which makes your life easier and lightens up your burden. Here is the list of Best Store credit cards in Canada.

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What is Store Credit Card?

You must be confused that what is the Best Store Credit Cards in Canada after all. Don’t worry we have got your back.

Store Credit cards are credit cards that can be used only at a specific brand or store to get more rewards. Retailer partners with Banks and provide credit cards to customers to encourage them to purchase on credit and pay off later. Whenever a customer purchases through that credit card, they get cashback, points, and various rewards. Those points can be redeemed later on for free purchases and merchandise. Below are the details of the 5 Best Store Credit Cards in Canada.

5 Best Store Credit Cards in Canada 2021

Triangle World Elite Mastercard

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Annual fee: $0
$50 first-year value
Sign-up rewards: 15% cashback is given on the first purchase at Canadian tire and if someone has spent up to $333 on a single purchase then a value of $50 cashback is provided.
Minimum income: $80,000

Triangle World Elite Mastercard is very beneficial for those people who shop at Canadian tire stores daily as Triangle World Elite Mastercard provides 5 cents per liter at Canadian gas and 4% cashback at Canadian tire stores.

Triangle World Elite Mastercard Benefits:

Easy Bill payment through Canadian Tire online banking login.
Roadside Assistance Gold plan membership includes 24 hours assistance and extra services like flat tire charges, fuel delivery.

Amazon.ca Rewards Mastercard

Best Store Credit Card in Canada | Best Store Credit Cards in Canada | Best Store Credit Cards Canada | Best Store Credit Cards 2021 | Store Credit Cards Canada Key features:

Annual fee: $0
Minimum income required: N/A
Interest Rate: 19.99% on Purchases
Welcome bonus: You will get 5% cashback on your first $3000 purchase at Amazon food stores and grocery stores for 6 months.

Amazon.ca Rewards Mastercard is listed as Canada’s Best Store Credit Cards as it is very beneficial for those who use Amazon Prime as prime members will get 2.50% cashback on every purchase at Amazon.ca and wholesale stores.

Even if you are not a prime member it offers you 1.50% cashback and cashback at a 1% rate on any other purchases.

Amazon.ca Rewards Mastercard Benefits

It Offers purchase insurance on items purchased with your card name for up to 90 days.
Extended warranty. Additional one-year warranty.

Are You Looking for Personal Loans? Check our Detailed Review on Best Personal Loans Provider in Canada.

Walmart Rewards World Mastercard

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Key features

Annual fee: $0
Minimum income required: $10,000
Purchase interest rate:19.89%
Offers you 5% cashback on purchases at Walmart stores.

Along with this, you will get 2% cashback at restaurants, fuel stations, and on travel. Moreover,1% cashback wherever Walmart rewards World Mastercard is accepted.

Walmart Rewards World Mastercard rewards/Benefits:

You can lock your card easily in case if it is lost or stolen.
Easy to use: You can download the Walmart app and manage your transactions easily.
Concierge service is provided
Travel protections like Master rental Insurance, Baggage delay insurance, Trip cancellation insurance, travel accident insurance.

Walmart Rewards World MasterCard is among the best store credit cards in Canada because it offers $0 Fraud Liability to Cardholders which gives proper satisfaction to users in case of unauthorized charges.

PC Financial World Elite Mastercard

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Key features:

Annual fee: $0
Eligibility: $80,000 Minimum personal income
Interest rate: 20.97% on purchases

You’ll get 30 PC optimum points for every $1 you spend at affiliated grocery stores and 45 points per dollar you spend at Shoppers drug mart.

And you earn 30 points per liter on gas purchases from Mobil, 30 points per $1 on travel purchases. Besides, Earn 10 points per $1 for any other purchases. Redeeming Pc optimum point is very easy as you can redeem at a rate of 100 points=$10.

Hudson's Bay MasterCard

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Hudson’s Bay Mastercard is one of the best store credit cards which comes with exciting rewards and it is very easy to apply for this Card:

You just need to visit any Hudson’s Bay Centre and ask an associate to help.
Or, you may install the Neo app on your Mobile Phone and apply for the best Store credit Card through it.

Key features:

Annual fee: $0
Free shipping on orders above $45 at thebay.com.
Earn 4 points on every $1 you spend at thebay.com and Hudson’s Bay stores.
You will earn 2 points on purchases from any other place apart from Hudson’s Bay store.
Hudson’s Bay Mastercard points are easily accessible and can be redeemed anytime at their stores.

Hudson’s Bay Mastercard Benefits/Rewards

Hudson’s Bay partnered with Neo which offers an extra 2% cashback to the cardholders.

Are you a Student? Looking for Best Student Credit Cards in Canada?

Click Here to Unlock Top 5 Best Credit Cards for Students in Canada.

Top 5 Best US Dollar Credit Cards in Canada

If you are a regular visitor of the US and most of your expenses are done in USD. Then it might be troublesome for you to exchange the currencies more often. So, it’s better if you get US Dollar Credit cards from Canadian Bank.

As US Dollar credit card allows you to purchase items in the US without any currency conversion, which really saves your foreign transaction fee. And you don’t need to be updated regarding the current USD-CAD exchange rate.

Is a US Dollar Credit card worth it?

Absolutely, US Dollar Credit cards are worth every penny if you frequently make purchases in the US dollar. It waives off your currency conversion charges which totally is a relief. Sigh. We have mentioned the list of Best US Dollar Credit Cards in Canada below:

5 Best US Dollar Credit Cards in Canada

Scotiabank US Dollar Visa Card

Key features:

Annual fee: $35USD
Cash advance rate: 22.99%
Credit Limit: $500.00 Minimum
No US currency conversion fee

Scotiabank US Dollar Visa card is the Best US dollar credit card because it’s eligible for apple pay and google pay. And it also provides various rewards, cashback.

Scotiabank US Dollar Visa card Rewards/Benefits:

Purchase security and extended warranty.
If you participate in AVIS Car rental locations worldwide then you will get a 20% discount.
You can pay your visa statement with US dollars easily from the scotia US dollar daily interest account. Or if you don’t have any, then open one easily through Scotia Online Financial services.
Free supplementary card.
Insurance protection.

BMO US Dollar Mastercard

Key features:

Annual fee: $35
Purchase interest rate: 19.99%
Cash advance rate: 22.99%
If you purchase a total of $1000 US dollars or more in a year then your next year’s annual fee will be waived off.

BMO US Dollar Mastercard is counted as the best US dollar credit card as it gives you 15% off admission to Cirque du Soleil shows touring in Canada and even 20% off on resident shows in Las Vegas.

BMO US Dollar Mastercard Benefits:

You can add another cardholder for free.
Extended warranty and purchase protection are provided.
Easy access to your credit scores, just by logging into your mobile or through online banking for free.
You can reset your PIN directly and issue the statements through your mobile app.
Zero liability protection helps you from any loss resulting from theft or fraud.
BMO Alerts, whenever you make a transaction to confirm if it’s really you.

[wps_note size=”17″ background=”#fae588″ color=”#333333″ radius=”3″]Are you a Shopping lover? And, you are not able to shop every day just because you are afraid of your financial situation? Then, don’t worry Best Store Credit Cards Canada is your best Saviour. Read our article on Best Store CC.

T.D US Dollar Visa Card

Key features:

Annual fee: $39 USD
Purchase interest: 19.99%
Cash advances: 22.99%
Credit limit: $1000 USD minimum

TD US Dollar Visa Credit Card Travel benefits:

Trip Interruption Insurance: which gives $5000 coverage per insured person and max $25000 for all the insured person on the same trip.
Emergency Travel Assistance services: it allows you to call when you are in need of help. It’s a toll-free number.
Delayed and lost baggage insurance: it gives coverage up to $1000 in case of baggage lost or delayed for more than 6 hours.

TD US Dollar Visa Card Extra Benefits:

you can use Apple pay or Samsung Pay wherever contactless payment is accepted.
It allows you to ask for an emergency cash advance of up to $5000 for the TD US Dollar visa card.

RBC US Dollar Visa Gold

Key features:

Annual fee: $65USD
Purchase rate: 19.99%
Cash advance rate: 22.99%

Although the RBC US Dollar Visa card is quite expensive but does provide some offers according to the value:

As you can earn 1 RBC point per $1 USD you spend.
Travel insurance, auto rental insurance, Damage insurance Trip cancellation/ Trip interruption, and Emergency purchase insurance.
Along with these, Purchase security and an extended warranty are also provided.

CIBC US Dollar Aventura Gold Visa

Key features:

Annual fee: $35 USD
Purchase rate: 19.99%
Cash advance rate: 22.99%
Income required: $15,000 minimum

CIBC US Dollar Aventura Gold Visa offers you 1 point for every $1 you spend on travel purchases through their center. And 1 point on every $2 you spend on any other purchases.

CIBC US Dollar Aventura Gold Visa Extra benefits:

No conversion fees.
The trip can be booked at the very last minute, no need to be in a foreign exchange line-up.
You can use your Aventura points to pay down your credit card balance easily.
Travel insurance, Auto Rental Collision, and Loss Damage insurance.
Purchase security and extended protection Insurance

Read Also: CIBC Dividend Visa Infinite Card Review

FAQs About US Dollar Credit card

Is a US Dollar Credit card worth it?

Absolutely, US Dollar Credit cards are worth every penny if you frequently make purchases in the US dollar.

Top 10 Best Apps for Newcomers to Canada – Get $80 Free Bonus*

Best Apps for Newcomers to Canada: With the development in technology and AI, we know it has been easy for everyone to operate anything through the Phone or any device. And it is quite helpful for all of us if we know the list of apps that is going to make our life easier than before.

Top 10 Best Apps for newcomers in Canada

Every year thousands of immigrants are moving to Canada for better life or better opportunities. Once they land in Canada there are many hurdles they have to face. I am also an Immigrant who landed in Canada in 2017 as a student. On very first day I was not aware about these apps but today I am going to make you aware of best apps for newcomers to Canada for your ease, smooth landing & settlement experience and to earn free bonus of $80 in Canada.

As you know, it is not easy to start a life in a new country, it needs proper plan and a mind map about how you are going to spend your life. Therefore, we have mentioned The Best Apps for newcomers in Canada.

These apps save you from your daily life hurdles and decrease your overload somehow. Moreover, they save your time and money as well.

Top 10 Best Apps for Newcomers to Canada

#1 Rakuten

Rakuten is one of the life saver apps for newcomers to Canada. As the weather changes frequently and you might not be sure how many sweaters you are going to need or which kind of clothing you need.
As a newcomer to Canada, you will get to know that money is the sole factor when it comes about buying anything.
And you can’t spend high amount of money without any knowledge. Therefore, Rakuten is an app that provides you lot of features in a single app and it’s very easy for you to blow a significant amount of money in a limited time.
Rakuten offers coupons, savings and cash back rewards as well.
You can shop from any of your favourite store and get 30% Cashback. It provides weekly gift cards as well with cyber week hot deals and coupons.
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#2 Wealth Simple Apps

Wealth simple is well known for its friendly and navigable website and it allows you to trade and invest as well. If you are newcomer to Canada then Wealth simple apps are the best apps for newcomers in Canada very helpful for you because it doesn’t charge any commission fees for buying or selling tocks and ETFs.

i) Wealthsimple Cash

Wealthsimple Cash App is Canada’s first P2P payment app, which recently released a physical card with no annual fees. Thus, the Wealthsimple Cash card is one of the best prepaid credit cards in Canada.
You can send money to your peer directly through the app also You can claim Wealthsimple Prepaid VISA card for free which is accepted everywhere.
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ii) Wealthsimple Trade

There are no minimum amount criteria fixed to create a Wealth simple Trade account. They are offering $50 cash bonus to new account holders if you deposit $150 and trade it.
Through this Trade: can trade stocks and ETFs with $0 commission.
You should install this app and it’s a win win moment for you because it offers you free Canadian trades and comes with no fee structure which makes it easy for the newcomers to trade with less capital as a first experience.
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iii) Wealthsimple Invest

You will get your personalized portfolio in just 5 minutes which is designed to meet your financial goals.
You can have a diversified portfolio through investing in social initiatives across the world.
You will love these apps as it has made the investing easier and the roundup feature is quite satisfying. You will discover various ways to increase your investments through wealth Simple apps.

#3 Google Maps:

Google map is one of the most essential apps for newcomers to Canada as you are in an unknown place or any place you aren’t familiar with. As Google Maps acts as search engine to find what the users are searching for and also as a map to direct users to that location.
It provides you the detailed map and shows you the traffic as well and the route for your destination through any medium.
For example, if you are trying to find a particular restaurant or any restaurant, you just need to push on restaurant button on the app and it will provide you the list of all the restaurants nearby including how far they are from your current location.
You can also view the profiles of the listed restaurants and decide on what you like. The profile shows you the customer reviews as per their experiences which makes it easy for you to decide.
Google map comes with lot of useful features and you can get to know about it only when you install it. So, download it as it is available on apple Store and play store as well.

#4 Weather App

You must be thinking why weather app is included in the list. But let me tell you a story.
The week I arrived in Canada and It was sunny in the morning and I had a meeting to attend and I wasn’t familiar with the route so I booked a cab and reached 1km before the destination. But when I was in the way it started raining and my outfit for the meeting got ruined.
So, the point here is if I would have used Google Maps and Weather apps before. I would have known about all this beforehand. But I didn’t so you know the outcome. Therefore, you must download apps for newcomers to Canada for any unseen situation.

#5 ArriveCan:

ArriveCan app is recommended when you are going to visit Canada. You need to provide your travel information before and after your arrival to Canada.
ArriveCan is totally free and is the platform of official government of Canada where you need to provide your information while entering Canada.
All the travelers whether entering Canada by land, air or ship, they must use ArriveCan.
Your boarding may be denied if you don’t submit your information. Otherwise, People who are Canadian citizens, permanent residents or any person registered under Indian act and is eligible to arrive Canada due to work, study will not be denied.
It makes it easier for you to navigate all these if you have the ArriveCan app and you don’t need to face any hassle further.
You need to provide your travel information and contact details and your vaccination details, Quarantine plans and then you will receive a receipt on your email. You can check the official website to know more.

#6 Skip The Dishes:

When you are somewhere new, you need an online food platform as well thus Skip is the best apps for newcomers to Canada. You need to download the app through play store or apple Store. You can get access to various kind of restaurants and you can easily order any food anytime anywhere.
Skip the dishes provides you with local favorite dishes as well that doesn’t normally deliver their food but you can order those foods through this app.
You can watch your order as well and track it through the app and it also shows you the remaining time left to deliver your order.
It’s the best app when it comes about ordering food online as it offers you Skip rewards too, where you can earn points on every order and the points can be used to get the food you love easily.
The sign up is very easy, you just need to Click Here to create a Skip account and you are good to go.
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#7 Borrowell

After all the hurdles, you must be thinking there must be an app that tracks your credit history and provide you the credit scores weekly. Then Don’t worry, we have got you covered.
Borrowell provides you your Equifax credit Score and Credit report for free and you can download your credit report and scores anytime.
It provides you the credit scores weekly and helps you to track your credit scores as well.
If you are newcomers to Canada you must install Borrowell as it tracks your credit report and provides you personalized tips for improving your scores as well.
As the main purpose when you reach Canada is to get a valuable credit card and moreover you need to monitor your credit scores often so its highly recommended to install Borrowell.

Special Read: Read Our Detailed Review on Borrowell – Click Here

#8 Tangerine:

When you reach to Canada you will need Canadian Bank account and With tangerine you can do digital banking.
As we said, the main agenda while you reach Canada is to get a valuable credit card first and tangerine provides you the best credit card in Canada with loads of cashback rewards and offers.
You will get $300 and 2.25% savings rate when you sign up using the promo code EARNMORE and create a savings account.
Tangerine offers you the credit cards with no annual fee as well and different card carries different cashback offers.
You should install the Tangerine mobile banking app which makes your banking experience more convenient. You can manage your account through the app and review transactions and get the important updates easily.
The insurance coverage provided by Tangerine is also quite satisfying and it’s a good option if you are a newcomer.

Readers Special: Tangerine Money Back Credit Card Review – #1 Ranked Credit Card in Canada

#9 Remitly:

Remitly is one the Best Apps for Newcomers to Canada if you tend to transfer money overseas as it allows you to transfer money faster and comes with the security. You can get best deals and low charges when you are transferring money out of country.
Remitly is a trustworthy app and very safe. Thousands of people in Canada use Remitly for transferring money more than $6 billion a year.
It is also quite easy for you if you are an Indian and living in Canada due to work or study. Because you can transfer money to India as well. You just need to create an account and you will get a special exchange rate on the first $ 1000 and extra $15 discount when you transfer money more than $6000.
You can track the progress and you get the call from a member to verify the transaction is an additional security. Due to which, I would recommend Remitly.
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#10 Koho

Koho is one of the Best Apps for Newcomers to Canada. Koho is a free spending and Savings account for Canadians that comes with the prepaid card and mobile app as well.
You will get 0.5% cash back on every purchase and the mobile app makes it easier for you to navigate the balance and cash out.
The additional feature provided by Koho is that you can lock your card and securely shop anytime that’s why it is trusted by 375,000 Canadians.
It’s not like any other credit card. Koho allows you a smart budgeting app through which you can monitor your account and get daily insights on improving after every purchase.
It’s quite simple to use, and there are various kind of built-in ways to make the most of your money.
You can choose to round up your purchases to the nearest buck or two and then that money will be stashed away from you, which is called Roundups. It adds up the amount quickly and you can cash out anytime you like.
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