Comments for Bank Nerd

Comment on Knowing Your Banks: Ally Bank Canada by Bank Guru

Bank Guru — Fri, 05 Mar 2010 18:17:35 +0000

:O A banker!! Thanks for sharing Kaitlyn… waiting for Ally Bank to have different products. We heard they are coming out soon…

Comment on RBC Drops Interest Rate on Line of Credit by B-Anker

B-Anker — Thu, 04 Mar 2010 16:03:29 +0000

What poeple don’t realize is that a line of credit is a networth product, good credit helps but its certainly not the end all be all. Its all fine and dandy to have 2 lines of credit but if they are both maxxed and never being paid down to 0. Thats tying up money that the bank could be lending to other people. Common Sense

Comment on Knowing Your Banks: Ally Bank Canada by Kaitlyn

Kaitlyn — Thu, 04 Mar 2010 00:24:42 +0000

There are penalties for cloinsg GIC’s before their maturity date. However we have a redeemable 12 month GIC, which is a highlight. I work for Ally as a customer service rep, and all the information is correct.

Comment on BMO Reports 24% Revenue Increase by Bank Guru

Bank Guru — Wed, 03 Mar 2010 04:16:22 +0000

Look at these guys… i wouldn’t mind a $657 million profit in my pocket for the year!

Comment on Bank of Canada Keeps Low Interest Rates by Bank Guru

Bank Guru — Wed, 03 Mar 2010 04:13:40 +0000

What!! Really? I’m a bit shocked didn’t think they’d keep it this long. I guess they aren’t that worried about inflation. Hopefully first time home buyers take advantage of this market….

Comment on Royal Bank of Canada’s Visa Infinite Avion by Bank Guru

Bank Guru — Sun, 28 Feb 2010 21:31:10 +0000

Thanks for the update! It actually doesn’t differ much from Visa Plat. My guess is that market share was going away quickly and they needed to recoup it and also use it as an upsell for other products.

Thanks again for the update

Comment on TD Canada Trust Credit Card Account Changes by James

James — Fri, 26 Feb 2010 17:55:16 +0000

These interest rates are beyond anything reasonable. I really feel sorry for Canadians who don’t investigate their alternative options. My theory is this: for most Canadians, a credit card is our first credit experience. They are easy to qualify for (relatively), and easy to use. For many, I fear, they don’t know that there are far less expensive ways to borrow money. If you are cash advancing and the like, it makes sense to get a line of credit and transfer your balances there. Some are as low as prime + 1.

Comment on Royal Bank of Canada’s Visa Infinite Avion by James

James — Fri, 26 Feb 2010 17:51:07 +0000

Interesting update on Infinite RBC card. They recently lowered the minimum credit limit to 5K from 10K. I asked my local branch about it and they said that too few people were qualifying for the 10K limit and simply moving to other banks such as TD or CIBC to get the card. This seems to indicate several things: one, few Canadians have the income needed to get higher end cards; second, too many Canadians (many who do have higher incomes perhaps) are carrying large amounts of debt and can’t qualify for higher end cards.

I understand RBC’s decision, but I’m really not sure how the card is any different from a Visa Plat now?? Yes the design is different, but not much else it seems….

Comment on Cash Back Guaranteed Master Card for Gas & Groceries by Bank Guru

Bank Guru — Wed, 24 Feb 2010 23:45:20 +0000

I could be wrong but Lowblaw’s and Real CDN Superstores are owned by two separate companies. Both companies are just participating in this program to entice consumers to shop at their retail store.

Comment on TD Canada Trust Credit Card Account Changes by Bank Guru

Bank Guru — Wed, 24 Feb 2010 23:41:31 +0000

I’m hearing a lot of complaints as of late regarding TD’s customer service. I’m hoping they notify all their clients and hopefully improve the relationships they currently have their clients.