The BMO Preferred Rate Mastercard positions itself as a focused tool for Canadians who want to minimize interest costs above all else. It does not chase flashy rewards or travel perks. Instead, it offers a noticeably lower purchase and balance transfer interest rate than many standard cashback or rewards cards, plus basic protections that help reduce the financial risk of everyday spending. Key specifications Typical purchase and balance transfer rate: around 12.99% (rate may vary based on creditworthiness) Annual fee: none Foreign transaction fee: typically 2.5% Rewards: none—no points, miles, or cashback program Protections: purchase protection, extended warranty, and Mastercard Zero Liability coverage What sets this card apart The primary selling point is an interest rate that is substantially lower than what many rewards and general-purpose cards charge. Where standard credit cards often carry rates around 19.99% or higher, the BMO Preferred Rate Mastercard can deliver meaningful interest savings for cardholders who carry a balance or plan to finance large purchases over time. Interest rates and balance transfers Applicants should confirm their individual rate since it will depend on credit…

This is a comparison of two cornerstone Canadian accounts: the Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP). Both let investors hold the same types of assets — mutual funds, stocks, bonds, GICs, and cash — and both have yearly contribution limits. The main difference is how they treat taxes and how accessible the money is. Specifications TFSA Allowed investments: stocks, bonds, mutual funds, GICs, savings accounts, etc. Tax treatment: no tax deduction on contributions; all growth and withdrawals are tax-free. Withdrawals: completely flexible and tax-free; withdrawn contribution room is generally restored the following year. Best for: short and medium-term goals where access and flexibility matter. RRSP Allowed investments: same as TFSA. Tax treatment: contributions are tax-deductible, reducing taxable income up front; growth is tax-deferred. Withdrawals: taxed as income when withdrawn; exceptions exist (Home Buyers Plan, Lifelong Learning Plan). Best for: long-term, retirement-focused saving when the contributor expects a lower tax bracket in retirement. Head-to-Head: Taxes and Goals Choosing between a TFSA and an RRSP comes down to two things: the tax picture now versus later, and…