Because LITs don’t set their own rates, LIT Victor Fong of Fong & Partners recommends focusing less on cost and more on whether the trustee is someone you feel comfortable working with.
When the spending caps and household spending behaviour were factored in, the Neo World Elite Mastercard delivered the highest blended annual value for a family of four.
When Alan landed in Canada in October 2021, he already knew that if he wanted to buy a car anytime soon, he'd need to build a Canadian credit history as quickly as possible.
While the applications did lower my score temporarily, the subsequent reports showed movement in a decidedly upward direction. I have two secured credit cards. They work. My score is moving, and that’s all that matters.
In total, purchasing the Great Value option instead of the name brand counterpart would have saved $19.59 or 34.2% of my grocery bill.
True debt consolidation, like a personal loan, line of credit, or balance transfer, usually has a limited impact on your credit score, aside from a hard credit check or closing credit cards.
For me, it didn’t seem to move the needle much at all. My Equifax score started at 849 and at the end of the experiment my score was… 849. I already had pretty established credit, so I could still see this being more useful for newcomers or people rebuilding after financial difficulties.
Ultimately, if I had to choose between Koho and Neo for my day-to-day spending and credit building, I would pick Neo, but that’s just me. The right choice for you will come down to how you spend, and how much you’re willing to pay for extra perks!
