Neo blog
Make your money work smarter with Neo Financial. Learn about saving, smart spending, credit building and more on our personal finance blog.
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What You Can and Can't Do With a 650 Credit Score in Canada
You can still qualify for car loans, high interest personal loans, and secured credit cards, but you will face higher interest rates.
Canada Does Not Have the Cash App Yet, But Here Are the Best Alternatives We Found for Each of Its Features
Below is a feature-by-feature breakdown of the strongest Canadian alternatives for what Cash App actually does.
How to Freeze Your Credit and Avoid Credit Fraud in Canada
"If you're concerned about people opening up credit in your name or if your info were part of a leak, freezing your credit file is something you should consider."
Overdrafts Don't Impact Your Credit Score Directly, But Here Is How They Could Impact You
The overdraft itself is invisible to the credit bureaus, but danger begins when you leave a negative balance too long.
How Do I Fix My Credit Score After Missing a Credit Card Payment?
"The first thing you should do once you realize you missed a credit card payment is make sure you pay."
How Long Does It Take To Build Your Credit as a Canadian Immigrant
You will likely become scorable for Equifax within 3 to 6 months and almost immediately with TransUnion.
Credit
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4 Neo Credit Cards That Will Help You Build Your Credit Up
What makes Neo's lineup unique is that every card it offers comes in two versions: a regular unsecured credit card and a secured version.
4 Types of Credit Cards So Easy to Acquire Literally Everyone Can Get Them
There are now 4 types of cards that any Canadian can easily get and that will allow you to order a Uber or book a plane ticket online like a normal person.
The 7 Cardinal Sins of Credit Cards in Canada and How to Avoid Their Pitfalls
While many Canadians are able to use credit cards without getting into debt, if you recognize yourself in any of the seven following habits, you are better off leaving the credit card in the drawer until you can approach it differently.
Spending
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Overpaying Your Credit Card Will (Temporarily) Increase Your Credit Limit, But Has Zero Impact On Your Score
"This can be great if your limit is low, you have the available funds and want to be able to put a large purchase on the card."
Canada Does Not Have the Cash App Yet, But Here Are the Best Alternatives We Found for Each of Its Features
Below is a feature-by-feature breakdown of the strongest Canadian alternatives for what Cash App actually does.
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Why the holidays are the season for scams—and how to avoid them
Don’t become a victim; be aware of common holiday scams. It may help you protect yourself, your sensitive information and your money.
Budgeting & Debt
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10 Unexpected Effects of Doing a Consumer Proposal in Canada
Unlike bankruptcy, a consumer proposal does not transfer control of your assets to a trustee. You keep your home, your vehicle, and all your investment accounts.
10 Surprising Items You Can Legally Keep Thanks to Canadian Bankruptcy Exemptions
Arguably the biggest misconception about Canadian bankruptcy is that you will automatically lose your car.
The Pros & Cons Of Declaring Bankruptcy in Canada
“I think filing for bankruptcy can prevent heart attacks, suicide, divorce, and job loss because people can now focus on life, as opposed to fighting with creditors they cannot afford to pay,” argues Jeremy Kroll, Licensed Insolvency Trustee and Partner at Baigel Corp.
New from Neo
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3 tips for first-time homebuyers in 2023
Reduce stress when buying your first home by better understanding the process, and use these three tips from Treadstone Law to reach homeownership like a pro.
Neo Financial Teams Up with CEBL
The Canadian Elite Basketball League (CEBL) is partnering up with Neo Financial™, a leader in Canada’s financial tech industry.
Strengthening our senior leadership team at Neo Financial
We are thrilled to share the appointment of several new senior leaders at Neo. Please join us in welcoming Amanda Broos as Chief People Officer, Dana Saric as Chief Legal Officer, Allemander Neto as Acting Chief Financial Officer, James Nauss as Chief Operating Officer, and Stefan Doan as Chief Information Officer.
Savings
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Bank account types: What’s the best bank account?
Which bank account is best for you? To decide that, we want to look at interest, flexibility and fees.
Top 6 money savings habits you can start today
Eat your avocado toast and use these top tips to save your money instead. Work on implementing these 6 money habits and change the way you view your finances.
A Guide to High-Interest Savings Account Interest Rates
Looking for high interest savings account rates? Neo Financial® offers competitive options that could help you maximize your money. Find out more today.