Money We Have

1 week ago | moneywehave.com | Barry Choi

Cancelling a credit card is a decision that many individuals face, often wondering how it may impact their credit score. This is especially true for anyone who has received the welcome bonus and doesn't want to pay the annual fee again. Closing a credit card can affect your credit score, but it depends on various factors. If you have multiple cards, it likely won't make a huge difference, but it can have a significant impact if it's your only card.

3 weeks ago | moneywehave.com | Barry Choi

Aeroplan has announced a new partnership with Chexy. That means you can now earn Aeroplan points on recurring bills such as rent, utilities, and even tax payments. This is relevant because Chexy helps you accumulate travel rewards on payments that usually wouldn't earn you anything. With Chexy joining Aeroplan's roster of partners, such as Starbucks, Uber, and LCBO, you now have an opportunity to earn additional points on a significant monthly recurring expense.

1 month ago | moneywehave.com | Barry Choi

If you look at your credit card statement, you'll notice that there's a minimum payment required each month. While paying just the minimum may be tempting, paying off your debt may take years while incurring significant interest charges. While you should always strive to pay the entire balance each month, it's also important to understand how minimum payments work. Credit card minimum payments are typically calculated as a percentage of your balance or a fixed amount, whichever is greater.

2 months ago | moneywehave.com | Barry Choi

Many people ask me what the right number of credit cards to have is, but there is no universal perfect number. The ideal number varies based on individual financial situations, spending habits, and financial/travel goals. While some may prefer one or two cards, others may benefit from several cards for various purposes, such as earning rewards, building credit, and taking advantage of welcome bonuses.

2 months ago | moneywehave.com | Barry Choi

Aeroplan, Air Canada's loyalty program, is one of my favourites because it offers me value and unique ways to save money on travel. Recently, I booked my family on a quick trip to Vancouver, and I found a great deal on flights when using my points. While frequent flyers are familiar with basic redemption strategies, there are lesser-known tricks that can significantly boost the value of your rewards.