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Finance

Finance

5 GIC Insights for Your Investment Portfolio

Let’s face it: guaranteed investment certificates (GICs) have not been sexy over the last decade.

With interest rates below historical norms, FAANGs taking a huge bite out of the market, and crude oil skyrocketing from $30 to $75 in just a couple of years, why would you waste your time with GICs?

Well, not everyone is so concentrated on the business headlines, and many people lack the time and energy to peer through corporate quarterly earnings. This is why GICs are superb investment tools because you still have your money working for you as long as inflation remains in check, and you won’t need to be fixated on the Toronto Stock Exchange (TSE).

Since the Bank of Canada (BOC) is normalizing interest rates, you can get a better-than-normal return. It may not be as great as it was in the 1980s when GIC rates were in the double-digits, but it’s better than what you have been getting in recent years.

Here are five reasons to pick GICs as your investment in today’s market environment:

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Finance

5 Factors That Can Harm Your Credit Rating

We all know that maintaining a decent credit score involves paying your credit card bills on time, but there are many other factors that could contribute to a poor credit rating. The score ranges from 300 to 850. To achieve a solid rating, you will need to score a number higher than 650. A poor credit rating will typically fall below 620. To keep your credit rating at a good level, look out for the following factors that could potentially harm your rating:

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