Applying for the BMO US Dollar Mastercard is fairly simple for Canadian residents, but it’s important to prepare in advance because this card works differently from regular Canadian-dollar credit cards. Below is a clear, step-by-step guide, plus recommendations, cancellation info, and a short FAQ at the end. Step-by-step application process Step 1: Check the basic requirementsBefore applying, make sure you meet the usual conditions for Canadian credit cards: Be a resident of Canada Be of legal age in your province Have an active credit history Have stable income BMO does not publish an official minimum credit score, but a fair to good credit profile is generally expected. Step 2: Consider opening a US-dollar bank account (USD)This card must be paid in US dollars. BMO offers USD accounts that can be linked directly to the card. You may also use a USD account from another Canadian bank, as long as it supports credit-card payments. Check monthly fees and minimum balance requirements, since these affect the real cost of using the card. It is not always mandatory to open the account before…

Many people treat saving and investing as the same thing. They are not. One protects you today. The other helps you grow wealth over time. Treat them like different tools in the same toolbox and use each for its purpose. Product Review: Saving vs Investing Overview Think of saving as the safety net and investing as the growth engine. Saving provides liquidity and short-term security. Investing accepts some risk for higher long-term returns. Specifications Saving Primary purpose: emergency fund and short-term cash needs Liquidity: high — money is accessible Return: very low (bank interest or high-yield savings rates) Risk: minimal principal risk Best vehicles: checking, high-yield savings, short-term CDs Investing Primary purpose: long-term growth and wealth accumulation Liquidity: varies by asset (brokerage accounts are liquid; real estate less so) Return: historically higher (stocks, conservative portfolios often 5–8% long term) Risk: market volatility and potential loss of principal Best vehicles: brokerage accounts, retirement accounts, rental real estate Why Save First: Protect Home Plate Before deploying significant money into the market or property, build a true emergency fund. Without it, life changes…