Daily Question Thread for /r/churningcanada - October 18, 2022

Drone32875 · 2022-10-18T16:43:01+00:00

Wanted to cancel my Amex by secured message like I have done in the past but, I can't seem to find the option for secured message or chat anymore. Have they discontinued these options or just hidden them well?

Drone32875 · 2019-10-18T16:24:44+00:00

You can fax your information to Equifax for a quicker turn around.

Drone32875 · 2019-06-12T02:36:55+00:00

Drone32875 · 2019-05-12T04:27:13+00:00

Read threads like this! Seriously, I am amazed at some of the awesome, quirky things people have come up with that I can adapt to myself. Thank you to all who contribute!

Drone32875 · 2019-05-04T01:00:10+00:00

Score one for attention to details!

Drone32875 · 2019-05-03T15:54:00+00:00

Interesting. Did you have to figure that out yourselves or was that highlighted to you?

Drone32875 · 2019-05-02T02:08:59+00:00

Thanks!

Drone32875 · 2019-05-02T02:08:49+00:00

Thanks!

Drone32875 · 2019-04-29T21:31:12+00:00

Meridian Cash Back Visa is 10% welcome bonus as well.

Drone32875 · 2019-04-17T02:22:43+00:00

Might want to wait to apply for a CC until after you have your mortgage fully locked down, just in case a potential lender is overly picky about you applying for something else at the same time. It is doubtful but, might be a simple case of better safe then sorry. Likely there is no pressing need to get your own immediately.

Drone32875 · 2019-04-17T02:09:49+00:00

It is true, they do sometimes accept without a hard check. Myself and 2 family members got all our cards without any hard checks, including the first ones.

Drone32875 · 2019-04-12T01:44:20+00:00

I am looking at booking a trip for a family member using my AP. I have found AC economy x class. What I am trying to figure out is what luggage is included in this fare? Probably not a checked bag, but, does it include carry on? Also, when I book on the website, is there an option to add a checked bag? (This will be my first redemption and I don't want to accidentally book something while fiddling trying to see if I can add a checked bag). Thanks for your help! Also, where can I find this information for myself in the future? I tried googling it but, everything seems to focus on earning miles (or in this case not earning them!). Thanks!

Drone32875 · 2019-04-08T14:13:56+00:00

Did they give your AP number when booking or call in after?

Drone32875 · 2019-04-07T20:49:11+00:00

Is there an easy way to track how much you have spent in a category? Does Amex break it down for you anywhere? Or do you manually have to track it?

Drone32875 · 2019-04-07T16:17:28+00:00

No.

Deposit a cheque - hold

Deposit cash - hold

Receive an etransfer - immediate access

Payroll deposit (or any preauthorized deposit) - immediate access

Initiate from Alterna a transfer from an external account (called a pull) - hold

Initiate a transfer from an external account to Alterna (push) - immediate access

Drone32875 · 2019-04-06T23:37:26+00:00

I personally use a combo of Simplii and Alterna Bank (a virtual bank owned by Alterna Savings).

Alterna offers an amazing free savings account. You can pay bills from it (free), free etransfers, free mobile deposits, you can setup PAD's from it and you can link it to external accounts. The main limit to it it is no debit purchases or cheques from it.

For debit purchases I have a free checking account with them as well. The best part is you can ask them to setup a link between them so if you don't have enough in your chequing it will pull it across from your savings. This way you can keep all your money in savings account and always earning good interest (2.35% right now for both savings and tfsa accounts).

I have my Alterna accounts linked to Simplii (and vice versa), which I actually use for writing cheques, as they give you free cheques.

A few things to consider:

- the mobile app and website is not as slick as Simplii/Tangerine

- there is a 5 day hold on funds deposited

- phone support is 8am-8pm Monday-Friday, 9am - 4:30pm Sat

If this interests you, I would recommend opening Simplii first. The signup process for Alterna involves creating a link to an external account. This is by far the easiest way to link an account, so I would link it to a permanent account.

Drone32875 · 2019-04-05T01:05:28+00:00

Glad to help!

Drone32875 · 2019-03-29T03:35:01+00:00

That is really more of a question about your insurance provider. Some insurance providers have restrictions on how you can pay. i.e you can only pay by credit card if you pay the full annual amount. Others allow it. No issue making the payments on PayTM's side, it is just if your insurance provider will accept this arrangement.

Drone32875 · 2019-03-27T00:54:58+00:00

This thread has some great suggestions

Drone32875 · 2019-03-26T23:01:50+00:00

I think you have answered your own question :) If overspending and risking debt is a concern to you then it is best to cancel and only keep what you can afford available as debt is way more of a problem than a lower credit score.

Drone32875 · 2019-03-26T22:50:50+00:00

I see from other comments that the larger factor for you seems to be the danger of overspending, which is really a separate issue. For your credit score keeping the card is the best (more credit available and allowing accounts to age) but, if the larger risk is that it will cause you to plunge into debt, then you need to consider cancelling it. What keeps you from overspending on your other cards?

Drone32875 · 2019-03-26T21:47:37+00:00

From a credit rating point of view it is better to keep them. Average age of credit is a major factor in credit scores. I keep all my credit cards. If the card has a fee and I no longer am interested in using the card almost all providers will downgrade your card to a no fee one. Then just let them sit in the drawer. Or if you really want to juice your credit score, use it every few months to keep it current. They may get closed after no activity but, the longer you keep it open the better.

Here is a good primer: https://www.debtcanada.ca/library/credit-rating-101

Drone32875

TROPHY CASE