Connect with us

Insurance

The Best Credit Cards for Students in 2019

Editor

Published

on

The Best Credit Cards for Students 2019

If you’re a student in college or university, you understand that every penny counts. Tuition is high, textbooks are expensive, and it’s hard to maintain healthy eating habits while living off-campus when all you can afford are those packets of Sidekicks pasta for $1.

This is where a good rewards credit card can come in handy. Not only can you earn points, merchandise or cash-back for you purchases, but you’re also given the opportunity to start building your credit. And this is important if you’re a young adult who doesn’t have any credit to your name. If used responsibly, having a credit card will start you off on the right foot so you are eligible for other types of credit in the future, like personal loans or a mortgage. And there’s a great chance you’ll need one of these things eventually.

Rewards cards generally offer different amounts of points or cash-back for particular spending categories (gas, grocery, pharmacy purchases, etc.). Whether it’s rebating you in points, a statement credit, or cash-back in your bank account, a good rewards card maximizes on your everyday purchases and ultimately helps you save, and if you’re a student, you’re likely looking for a card with little-to-no annual fee.

But with so many options available, it may be hard to choose the exact credit card that’s right for you.

RateSupermarket.ca makes it easy with our card comparison tool. And with all things considered, from sign-up bonuses to earning rates, we used our Best of Finance methodology to rank the cards that provided the most cash value.

These are the best credit cards for students that offer rewards:

The Top 3 Credit Cards for Students in 2019


RSM-022_2018_Best_Of_Finance_2018_Campaign_BlogPost_800x180_BMO_Cashback_FINAL

Why it’s an awesome card

With no annual fee, the BMO®* CashBack Mastercard®* offers those with a limited budget a decent amount of cash-back if used to its full potential. The card offers 5% cash-back in the first three months of cardmembership up to $2,000 in spending, with no restrictions on where you can earn cash-back. So you’re already entitled to earn $100 in cash-back in just a few months. Eligibility requirements are also pretty low, which makes this card appealing for students with no or low income. After you’ve reached the $2,000 spending cap, you only receive 1% cash-back on your purchases, which is standard for a no-fee card.

Cash-back is applied to your account annually, and while it is detailed on your statement monthly, you’ll receive your cash-back in the form of a credit to your account in January of the following year.

Earning rate*

  • Other: 1% cash-back on all purchases.

Earning potential

  • Annual fee: $0
  • Sign-up bonus: 5% cash-back in the first three months of cardmembership (up to $2,000 in spending).
  • Rewards earned over a 24-month period: $373.51** 

RSM-022_2018_Best_Of_Finance_2018_Campaign_BlogPost_800x180_BMO_SPC_FINAL

Why it’s an awesome card

Identical to the BMO®* CashBack Mastercard®*, the BMO SPC®** CashBack® Mastercard®* yields a fair amount of cash-back for a no-fee card – 5% in the first three months of having a card (up to $2,000 in spending), and 1% thereafter. However, it also comes with the added benefits of a Student Price Card (SPC) membership, offering 10% to 15% off at hundreds of stores.

The over 450 participating stores include Adidas, Taco Bell, Koodo Mobile, Forever 21, and Victoria Secret – providing you with deals on everything from shoes to tacos to your phone plan – and the SPC membership renews automatically every year.

This card won Best Card for Students in the past at our Best of Finance Awards, as its designed specifically for students and their specific needs – qualification is based on lower earning requirements, and a third-party or parental authorization isn’t needed to sign up.

Cash-back accumulated over the year is awarded to your account as a credit every January, after which your cash-back balance reverts to $0.

Earning rate*

  • Other: 1% cash-back on all purchases.

Earning potential

  • Annual fee: $0
  • Sign-up bonus: 5% cash-back in the first three months of cardmembership (up to $2,000 in spending).
  • Rewards earned over a 24-month period: $373.51**

RSM-022_2018_Best_Of_Finance_2018_Campaign_BlogPost_800x180_SB_Scene_FINAL

Why it’s an awesome card

This credit card is a cool option if dining out and movies are your thing, as you earn SCENE points for purchases. SCENE points can be redeemed for free movie tickets, discounts on concessions, or discounts at some popular Canadian restaurants (Kelsey’s, Swiss Chalet, Milestones, and East Side Mario’s, to name a few). And since SCENE points are applied to your account automatically, you can use them anytime – great for those Friday night hangouts.

Not only does the SCENE®* Visa* Card reward you for your pastimes, but it helps build your credit score and you don’t have to pay an annual fee. It was also the winner of the Best Card for Students award at our last Best of Finance Awards.

Earning rate*

  • Entertainment: 5 SCENE points per $1 spent at participating Cineplex Entertainment theatres or online at cineplex.com.
  • Restaurants: 1 SCENE point per $3 spent at CARA restaurants, with some exceptions.
  • Other: 1 SCENE point per $1 spent on all other purchases.

Earning potential

  • Annual fee: $0
  • Sign-up bonus: 2,000 SCENE points (if you charge $500 to the account within the first three months of cardmembership).
  • Rewards earned over a 24-month period: 36,151.04 SCENE points
  • Monetary worth: $361.51

 


Notes: 

*Earning rate up to card’s annual spending cap, if applicable.

**Assuming $1,222.96 is spent on the card monthly at eligible retailers, in the following categories: Pharmacy ($55.33), Food ($758.53), Gas: $155.72, Travel ($151.21), Other ($102.17).

The post The Best Credit Cards for Students in 2019 appeared first on MoneyWise.

Source link

قالب وردپرس

Insurance

Multiple trucking violations by Humboldt semi driver noted in government report Canadian Underwriter

Editor

Published

on

By

MELFORT, Sask. – A Saskatchewan government report says the driver of a semi-truck should not have been on the road the day he flew through a stop sign and caused a crash with the Humboldt Broncos team bus.

The report filed during the sentencing hearing for Jaskirat Singh Sidhu notes 51 violations of federal trucking regulations on drivers’ hours and 19 violations of Saskatchewan trip inspection rules.

It includes the 11 days prior to the April 6, 2018, crash at a rural intersection that killed 16 people and injured 13 others.

The wreckage of a fatal collision, involving a bus carrying the Humboldt Broncos junior hockey team, outside of Tisdale, Sask., is seen Saturday, April, 7, 2018. THE CANADIAN PRESS/Jonathan Hayward

“If Jaskirat Singh Sidhu had been stopped and inspected on April 6, 2018, prior to the incident he would have been placed under a 72-hour out-of-service declaration … preventing him from operating a commercial vehicle,” says the report.

The document is signed by two senior Saskatchewan government officials and is included in the RCMP’s forensic collision reconstruction report.

It expresses concerns about the distances Singh was driving as well as the amount of time he took off to rest.

The report notes that if Singh had accurately documented his time at work on April 1 it ‘would have resulted in the driver being in violation of the maximum on-duty time of 14 hours for the day.”

The report says questions remain about what happened the day of the crash.

“We have strong concerns regarding the timelines of Jaskirat Singh Sidhu’s day on April 6, 2018, as there are unanswered questions as a result of the incomplete log on that day,” it says.

“The identified mileage and distances required to travel to the locations identified in the log and known locations also cause concerns.”

Sidhu had been driving for about a month before the crash occurred.

The owner of the Calgary-based trucking company, Sukhmander Singh of Adesh Deol Trucking, faces eight charges relating to non-compliance with federal and provincial safety regulations in the months before the crash.

They include seven charges under the federal Motor Vehicle Transport Act: two counts of failing to maintain logs for drivers’ hours, three counts of failing to monitor the compliance of a driver under safety regulations, and two counts of having more than one daily log for any day.

Source link

قالب وردپرس

Continue Reading

Insurance

Signs of progress on national flood program for Canada Canadian Underwriter

Editor

Published

on

By

Canada is making good progress on a national flood program, pending a final decision by federal, provincial and territorial (FPT) ministers responsible for emergency management.

“What they are looking at is one national insurance solution to improve outcomes for high-risk Canadians across the country,” Craig Stewart, vice president of federal affairs at Insurance Bureau of Canada (IBC) told Canadian Underwriter in an interview Tuesday. “There may be regional insurance pools adapted to local conditions, but it would be nationally coordinated.”

FPT ministers responsible for emergency management have mandated IBC to lead a national working group to take a look at options and what they would look like. IBC provided three options:

  • A pure market approach (like in Germany and Australia) where governments exit disaster assistance
  • A broadened version of the status quo, but with better-coordinated insurance and disaster assistance
  • Deployment of a high-risk pool analogous to Flood Re in the United Kingdom.

The next step is for the working group, which Stewart chairs, to cost out the pool. “The pool needs to be capitalized as it was in Flood Re,” Stewart said. “So, we need to figure out where that money is going to come from. Is it going to come from governments? Is it going to come from insurers? Where is it going to come from?”

A final decision will be made by ministers after the high-risk pool is costed, which Stewart expects to be completed by June. Decisions on eligibility, how to capitalize the pool, and on any cross-subsidization await the results of that costing analysis.

In addition, this spring, the ministers will hold a technical summit on flood data and science. “Our view of the risk many not align with the government’s view of the risk,” Stewart said. “We need to bridge the gap. This symposium is going to focus on essentially the data and science of flood modelling.”

In early 2020, there will be the launch of a consumer-facing flood risk portal. IBC has been working with the federal government to develop the authoritative flood portal, where consumers can discover their risks and what to do about them.

“Elevating consumer awareness of flood risk is key,” Stewart said. “Consumers aren’t going to be incented to protect themselves or to buy insurance unless they know their risk.”

In May 2018, FPT ministers responsible for emergency management tasked IBC to lead the development of options to improve financial outcomes of those Canadians at highest risk of flooding. IBC worked with a wide range of insurers, government experts, academics and non-governmental organizations to produce the three options, which were tabled with ministers last week.

The ministers released the first-ever Emergency Management Strategy for Canada: Toward a Resilient 2030 on Jan. 25. The document provides a road map to strengthen Canada’s ability to better prevent, prepare for, respond to, and recover from disasters.

“In less than two years, Canadian insurers have secured a mandate with every province and territory to finalize development of a national flood insurance solution, have successfully catalyzed a national approach to flood risk information, have secured over two billion dollars in funding for flood mitigation, and have succeeded in securing a funded commitment for a national flood risk portal,” Stewart said.

Source link

قالب وردپرس

Continue Reading

Insurance

Insurers disagree over meaning of ‘household’ in policy language Canadian Underwriter

Editor

Published

on

By

A dispute over what exactly constitutes a “household” in a home insurance policy has reached the Court of Appeal for Ontario.

Several members of the Weiner family were sued after a person drowned in 2010 in a vacation home on Lake Eugenia, about 70 kilometres west of Barrie.

The homeowner was Enid Weiner, who had moved to a nursing home in 2008 or 2009 and has since passed away.

The home was insured by Intact. Enid Weiner was the only named insured, but the policy provided liability coverage for relatives of the named insured while those relatives were “living in the same household” as the named insured.

Whether this means Intact is also providing liability coverage for Enid Weiner’s adult son, Scott Weiner, was a source of disagreement among judges and insurers alike.

Scott Weiner, along with his wife and daughter, were named defendants in the drowning-related lawsuit. Also named was the estate of Enid Weiner. Scott Weiner used his mother’s house as a cottage but did not live there permanently.

Scott Weiner’s own insurer, TD Insurance, settled the lawsuit. TD Insurance took Intact to court arguing Intact has a duty to defend the lawsuit.

As it stands, TD has lost its case.

“The mere fact of co-residence is not enough to constitute membership in a household,” wrote Ontario Court of Appeal Justice Bradley Miller in Ferro v. Weiner, released Jan. 28, 2019.

Initially, Ontario Superior Court of Justice Pamela Hebner ruled in favour of TD. In her ruling, released Apr. 12, 2018, she ordered Intact to pay $62,500, or half the cost of settling the lawsuit.

Justice Hebner found that Scott Weiner was in the same household as his mother. He came to the cottage when he wished and took care of it as if it were his own place.

But Justice Miller of the appellate court countered that, at the time of the accident, Enid was living in a nursing home.

“Scott lived with his family in the city and had organized his life around his urban household. Prior to entering the nursing home, Enid lived with Scott’s brother, and not with Scott and his family,” added Miller, citing several court rulings, including Wawanesa Mutual Insurance Co. v. Bell, released in 1957 by the Supreme Court of Canada.

Wawanesa v. Bell arose after Murley Miller was killed in 1955 while driving a Vauxhall car owned by his brother, John Milley.  Other victims of that accident sued Miller’s estate. Murley lived at John’s home in Sarnia.

The court in the 1957 case defined the term “household” in the following way:

“The ‘household,’ in the broad sense of a family, is a collective group living in a home, acknowledging the authority of a head, the members of which, with few exceptions, are bound by marriage, blood, affinity or other bond, between whom there is an intimacy and by whom there is felt a concern with and an interest in the life of all that gives it a unity.”

Members of a household could include domestic servants and distant relatives living there permanently, the court found in 1957.

“Although a household is not synonymous with a family, the existence of a household is evidenced by the extent to which its members share the intimacy, stability, and common purpose characteristic of a functioning family unit,” Judge Miller of the Court of Appeal for Ontario wrote in 2019 in Ferro v. Weiner.

Members of a household “typically share a residence and resources, and integrate their actions and choices on an ongoing and open-ended basis,” added Miller.

Source link

قالب وردپرس

Continue Reading

Chat

Trending