WestJet RBC World Elite MasterCard New Companion Benefits May Not Be Beneficial

WestJet RBC World Elite Card New Benefits

First Published Date: March 20, 2016

The review I wrote about the WestJet RBC World Elite MasterCard last year is one of the most popular credit card reviews on A Dawn Journal. So once I saw that WestJet updated this card with more benefits, I thought it would be perfect to write another piece on this.

In the past, the WestJet RBC World Elite MasterCard annual companion bonus voucher was good for an annual companion flight for $99 (plus applicable taxes, fees and charges) to fly anywhere in Canada or the United States, excluding Hawaii and Puerto Rico.

However, WestJet announced on March 1, 2016 that the companion voucher would have full access to anywhere WestJet flies, including Mexico, the Caribbean, Hawaii and Europe. The price breakdown for the companion voucher is now:

– Canada and the Continental US for $99 (+ taxes, fees and charges)

– Hawaii, Mexico, Central America and the Caribbean for $299 (+ taxes, fees and charges)

– Europe for $399 (+ taxes, fees and charges)

Whether the companion fare will save you money or not (after paying the $99 annual fee) depends on where you go and how much other airline fares are going for at the moment. Here are 3 samples I compiled on economy class based on possible lowest fares (including sale) that I checked today (March 13, 2016) travelling on April 17 to April 22:

Toronto to Las Vegas for two using companion voucher: $774

Toronto to Las Vegas for two on another airline using skyscanner.com : $1000

Toronto to Honolulu, Hawaii for two using companion voucher: $1417

Toronto to Honolulu, Hawaii for two on another airline using skyscanner.com : $1288

Toronto to Mexico City for two using companion voucher: $1800

Toronto to Mexico City for two on another airline using skyscanner.com : $927

As you can see, based on the above three samples and several other samples I tried, including travelling to Europe, you may find that travelling on other airlines costs less than WestJet, even using a discounted companion voucher. However, because the companion voucher works on any fare class on WestJet, you may find it useful if you are buying the more expensive Flex or Plus Fare class.

Whether you should continue keeping WestJet RBC World Elite MasterCard or not depends on whether the companion voucher saves you money or not. Another friendly reminder (I also mentioned this in my first review) is that this card provides neither Trip Cancellation Insurance nor concierge service.

Real Estate In Cyprus

Buying Property In Cyprus

First Published Date : March 25, 2016

Have you ever thought of living in Europe? Well, chances are you may have thought about it, but have you though about living in Cyprus? While many have not thought about moving to Cyprus, you really should. It is a beautiful and warm country where you can get homes for a very cheap price. So, what do you need to know about Cyprus?

Cyprus is an island in the Eastern Mediterranean, which is located south of Turkey and west of Lebanon. It is the third largest island in the Mediterranean Sea and it is a very popular place for tourists. It has a high-income and advanced economy and it routinely ranks very high in the Human Development Index. It is also a member of the European Union, as of May 2004.

The Republic of Cyprus covers the entire island and parts of the water but the republic is actually split into two parts. Roughly 59 per cent of the island is under the Republic of Cyprus, while the rest is called the Turkish Republic of Northern Cyprus, but this is only recognized by Turkey.

Cyprus has a very warm climate with mild winters and hot summers. Snow can fall in the mountains, but generally Cyprus has the warmest climate in the Mediterranean of all countries in the European Union. Many may feel that Cyprus is a country that is not developed but this is not the case as it is highly developed and highly safe. It is a very safe country with very little crime and houses and cars are often unlocked.

Thanks to the warm climate, there is a steady stream of people coming into the country who are seeking to live and work on the island, especially since the country became part of the European Union.

The tourism industry is very strong and that means there is a huge demand for seasonal workers in the area and many of those seasonal workers choose to live in the country all year round.

So, if you are thinking of living and maybe working in Cyprus, what do you need to know?

When you are thinking of moving to Cyprus, you can rest easy in that it is very easy to buy property within the country because it is a member of the European Union. The first thing you need to do is to find a real estate agent in the country who can help you find the property you are looking for. Once you have the property you are looking for, you need to finance the purchase. If a lender is required to do the purchase, you will typically have to come up with a 20 per cent deposit, while the bank will pay the rest of the loan for you. However, you can only get this if you have lived in Cyprus for at least the last five years. If you are a non-permanent resident, then you will have to have a 40 per cent deposit and the bank will cover the remaining 60 per cent for you. For investment and commercial properties, it is a 50/50 split.

Depending on the requirements of the lender, the time to pay back the loan is going to vary. The term can be as low as 10 years, and as high as 30 years.

If you are wondering about the places to live within Cyprus, here is a brief rundown of the regions to buy real estate in Cyprus:

1.    Famagusta District: This district contains the most important port in the country, also named Famagusta. There is a population of 37,738 people in the district and the district is currently under control of Turkey with the Cyprus government acting in exile. It is a very beautiful area with a coastal nature park and high points along the sea that individuals can go hiking to.

2.    Kryenia District: This is the smallest of the districts and the only one completely controlled by Turkey. The main town is Kyrenia.

3.    Larnaca District: This district is partly occupied by Turkey and its main city is Larnaca. The district has the most important airport in the country and it has a mosque that is very important to Muslims.

4.    Limassol District: The main town of this district is also named Limassol and part of the district is under the sovereignty of the United Kingdom.

5.    Nicosia District: The main town in this district is the capital city of Nicosia. Turkey occupies the northern part of the city and the district features some amazing scenery and nearly everything you need from a major urban centre.

6.    Paphos District: This district is in the western part of the country, occupied completely by Cyprus with four main cities being Paphos, Yeroskipou, Peyia and Polis Chrysochous. The district occupies 15 per cent of the island and has a population of 76,100. There are many beaches, tiny isles, capes, coves and hilly areas that are extremely beautiful.

Cyprus is a very beautiful island and country that is stable, safe, with a strong economy and beautiful scenery. It is warm, it has plenty to do and see and you are close to Europe if you want to go over for a visit. Since it is a member of the European Union, it is very easy to travel to and from the island to Europe. Many are now thinking of buying property within the country because it is such a beautiful place to be and the property is so cheap. As a foreigner, you do have to have more of a down payment when buying property within Cyprus, but you need to remember that if you decide to live in Cyprus for a long period of time, then in only a few years you can have a home with less of a down payment. Living in this country will ensure you will enjoy the winters and the summers, and feel you have made the right choice to live there.

What Is A Hybrid Travel Rewards Credit Card?

Proprietary and Hybrid Travel Credit Cards

First Published Date: March 27, 2016

Travel rewards credit cards can help you travel faster and possibly also earn you free or partially free trips due to the generous returns they offer on daily spending. In general there are usually two ways these credit cards accumulate travel rewards points. These are proprietary rewards points and hotel or airline rewards points. However, there is another type of credit card that offers the best of both by providing more options called a hybrid travel credit card. Today I will talk about this new breed of increasingly popular credit cards called hybrid cards.

Proprietary rewards creit cards are tied to credit card companies’ own rewards points. For each dollar you spend, you usually collect one or two rewards points that offer usually a 1-cent value per point. For example, if you spend $100, you will get 100 points (if one point is being offered for each dollar) or $1 (100 cents). These accumulated points can be used against your credit card travel purchases and that’s how these proprietary points work. So what you see is what you get when it comes to proprietary points. For example, your return on your credit card purchases will be based on how many points the cards offer and you cannot exceed that rate of return. If you get 1 point per dollar, your return is 1 percent. If you get 4 points per dollar, your return will be 4 percent (if 1 point is valued at 1 cent).

The Airline or Hotel credit cards offer hotel or airline points, instead of proprietary points. The beauty of these points is that since there is no fixed amount attached, the rate of return can be an astounding 5-7 percent, if you are knowledgeable about the hotel or airline rewards programs and know how to redeem to maximize return.

Now, what if you want neither proprietary points nor airline/hotel points, but want it all? That’s where the hybrid credit cards come in. Hybrid travel credit cards give you the option and flexibility to redeem points as proprietary points or you can transfer them to other hotel or airline rewards points. So hybrid cards work for both consumers who want straightforward proprietary points with fixed return or for those who are knowledgeable about the ins and outs of hotel/airline rewards programs and want to maximize returns by converting points to hotel/airline rewards programs.

Two popular hybrid cards in Canada are American Express Gold Rewards Card and RBC Visa Infinite Avion Card. As consumers are looking for more options, expect more entrances of hybrid travel credit cards on the market in the future.

What Is Employment Insurance (EI)?

Employment Insurance

Published Date: Sep 15, 2010

When something bad happens, employment-wise speaking, there is often the worry of how you are going to pay your bills. Thankfully, in Canada, there is something called Employment Insurance, which is there to help you when you need help after losing your jobs.

Employment Insurance has not always been the name of the program. Until 1996, it was called Unemployment Insurance. However, it was changed to Employment Insurance because of the negative connotations associated with the word unemployment. Canadians who work within the country pay 1.73 percent of their earnings in return for benefits if they lose their job. There used to be a government contribution to the program but that was stopped in 1990.

Depending on how long you were at your previous job, the amount you receive for employment insurance and how long you get employment insurance will vary. Your employer will contribute 1.4 times the value of the premium you pay.

The amount of employment insurance paid out around Canada varies by the region. Roughly half of all employment insurance premiums are paid out to individuals in Ontario and the Western Provinces. However, employment insurance is very important in the Atlantic Provinces where there are many season workers who work in fishing, tourism and forestry. During the winter there is no work, so those who work in seasonal industries need something to help pay the bills until their work season begins again. To help with this, employment insurance has special rules for those who fish for a living.

Employment insurance will also pay for things like parental leave, maternity leave, and compassionate care leave and illness coverage.

Employment insurance first came about during the Great Depression in 1935. The odd thing was that the Supreme Court of Canada ended it because it was deemed unconstitutional. The constitution was amended so that employment insurance could fall under federal, and not provincial, leadership. The first system then came into being in 1940 and Canada was the last major western country to implement a system of employment insurance.

Changes to the system came about in 1971 under Prime Minister Pierre Trudeau when he made it easier to get. Under the new system, only needed to work for 10 weeks to get benefits for 42 weeks. At this time, the program was also opened up for sickness and maternity leave, which would run for 15 weeks.

However, from 1971 to 1990, the government slowly reduced its contributions until it was no longer contributing. The employment insurance system was then cut back on in 1990, 1993, 1994 and 1996 by the ruling governments, increasing the time someone had to work in a seasonal job until they could earn money. In 2001, the federal government increased parental leave from 10 to 35 weeks and gave workers employment insurance for compassionate care leave.

Currently, the system costs the country $22.7 billion per year.

No matter the cost, it is an important thing for individuals who need help after they have lost their job, suffered a death in the family, or are welcoming a new member to the family.

Credit Card Hacks: The Hidden Gem

How Credit Cards Can Help You Travel

First Published Date: April 3, 2016

ve been working on “Credit Card Hacks: What Credit Card Companies Don’t Want You to Know”, today I will talk about one of the many secrets this book reveals. One of the most overlooked credit card features is free or partially-free travel.

Most consumers shy away from taking full benefit of their credit cards due to a misunderstanding or lack of knowledge in terms of what credit cards can do for us. However, one of the most lucrative benefits credit cards offer is that they can make it possible to travel for free or partially free.

As I write this article today, I am getting ready for my next trip to Myrtle Beach in three weeks. If I had to pay for this trip fully, my estimate is that it would cost approx. $1,800. But because I am flying and staying in expensive resorts partially on points, the cost will be about a couple hundred dollars at most.

No, this is not a once-in-a-lifetime trip. I made it possible by accumulating points year after year. I travel each year paying very little because of the points my credit cards offer and this is what I will discuss in one full chapter in Credit Card Hacks.

To explain in brief, travelling for free or partially free is possible because of the sign-up bonus various travel credit cards offer and there are many other ways rewards points can accumulate faster. The only drawback to travelling for free or partially free is that you have to master various hotel and flight rewards programs.

I have discussed in great detail how to use various travel credit cards to accumulate points and make your dreams to travel and see the world come true in a way that would not have been possible otherwise. Stay tuned for Credit Card Hacks, which is expected to be out this year.