Tag Archives: Visa

Mortgage Papers Signed!

11 Dec

Funny how Scotia Bank wanted me to pay off my current balance for Amazon Visa and Capital One Mastercard.  I still had a current running balance of $61.37 from Visa and $663.22 from Mastercard that isn’t due till early-mid January 2014.  They want prove that I am able to pay this off.  Ugh, haven’t I been paying off my balance every single due date since like forever?  Begrudgingly, I complied to their request since I need the mortgage eventually… However, Scotia Bank didn’t ask me to repay my $11,800 balance transfer from MBNA Mastercard!  Woot woot, I took that out a couple months ago @ 0% and I don’t have to pay it back till September 16, 2014!  So I have ample time to repay that back.  Right now, the current balance for that is $11,564.00.  Paying it back will be a bit dicey, most likely, I’ll sell off a stock for repayment.

So I signed my mortgage papers and I’m all set to throwing money to interest payments for the next three years.  I signed a fixed 3 year rate @ 2.89% vs a 5 year variable rate @ 2.50%.  The fix rate will cost me $780 extra a year.  But it’ll give me the security of rising interest rates in the future.

RBC was offering me fixed 3 year rate @ 3.19% which is kinda crappy.  I ended up going through a mortgage broker to help me get lower rates.  Scotia Bank offered me a rate that I deemed decent enough.  They also own ING Direct, so they feel comfortable in dealing with me as I am a client of ING Direct for a number of years.  All in all, it worked out to both parties.  

Renting this out next month will be the top of my to do list.  So far, I have two potential semi-interested parties.  But the unit is on the smaller scale.  Hopefully, everything will pan out and I can get some passive income to help my mortgage payments.  

 

 

 

 

Added First Financial and Visa to my TFSA today

31 Oct

My timing might be a little rushed this morning, but I wanted to get in before the opportunity slipped by me.  I had cash sitting in my TFSA stagnant for the longest time.

This morning, I was surprised to see a $8/share drop in Visa.  They just released their earning reports on October 30th.  Visa announced strong earnings, authorizing a $5 billion repurchase program, and increasing their quarterly dividends by 21%. Yet the traders are pushing this stock down for some reason.

I picked up Visa- 10 shares @ $197.50

Also, I decided to add a strong monthly dividend payer to my TFSA.  Surely, I am missing the regular $127 per month distribution from my recent sale of Chemtrade Logistics Income Fund (CHE.UN) for Mastercard which is proven to be a good move after all.  I just I missed my chance to average down on Mastercard on two occasions earlier this month.  I hitting my head over it now.

First Financial is on a tear lately after they announced 80% jump in net income .  Am I buying at its highs again only to get burned?  

I picked up First Financial (FN.TO)-  500 shares @ $22.45

My dividend payout is $60 per month from First Financial.  But I hope that their stock price will appreciate in the time I hold it.  I’ve done well with BMO and I hope to replicate this by adding First Financial to my TFSA.

I am looking forward to the growth in my TFSA.  For the last few years, I’ve traded a lot.  I sold out stocks that I should have kept and kept stocks that I shouldn’t have.  I think my job is done here for the next while.

Disclosure of my TFSA holdings:

500 shares of First Financial
15 shares of Mastercard
37 shares of Visa

 

 

 

Virtual Broker – Margin Review on my Portfolio

5 Sep

Margin gives you the ability to buy stocks on borrowed money from the brokerage.  The more money you invest in a stock, your risk becomes greater as well.  It can be for the better or worse, but you really need to access how much you are willing to put down or stomach.  *Always be careful when borrowing money.*  

Presently, I have a margin account with Virtual Brokers.   The current rates at Virtual Brokers is 4.5% for CAD and 4.75% for USD.  Margin rates are usually competitive, since they have collateral to the amount of cash you have in the account with them.

Last month, I sold my Goldcorp stock.  So at the moment, I have $4,470.37 cash sitting in my CAD account.  I still don’t know what to buy on the Canadian side.

I also added a few American stocks to my portfolio on margin, but they haven’t been performing as well as I had hoped for.  At the moment, Currently, I have $8,384.51 margin in my USD account.  I am hoping Coke will make a turnaround soon, so I can lessen my margin load.

Current Value for USD Stocks on Margin:

Coke (KO)

2,075.99 1,912.00 -163.99 -7.90%

Visa (V)

$4,152.49 $4,052.83 -$99.66 -2.40%

Costco (COST)

2,240.99 2,292.40 +51.41 +2.29%

Anyways, I have been lazy and not really keep track of my overall stock portfolio.  Time for me to sit down one night and make a good tracking system for all my purchases and sales of stocks for 2013.

Visa addition 23 @ $180.50/share

8 Aug

I bought Visa in hopes it will go up like Mastercard 🙂

My total shares for Visa is 50 now!

I bought Visa when it first IPO’d.  If I only kept my original shares… I’d be $10,000 richer!  But I sold out for a measly $2000 gain.  My heart aches when I let go winners and keep losers…

Now, I try to accumulate some good stocks for keepers.

Trade Alert

25 Jan
  1. Jan 25th- Sold CHE.UN in RRSP: 240 @ $16.48/share  |  Loss $24.00
  2. Jan 25th- Sold WYN on Margin: 100 @ $56.80/share  |  Gain $310.00
  3. Jan 25th- Sold AAPL in TFSA: 10 @ $441.50/share  |  Loss $703.94
  4. Jan 25th- Bought MA in RRSP: 10 @ $519.75/share
  5. Jan 25th- Bought V in TFSA: 27 @ $159.60/share
  6. Jan 25th- Bought INTC on Margin:  500 @ $20.99/share

Time to shake things up a bit.  I needed to infuse my portfolio with some good stable companies, so I decided to cut my losses in Chemtrade and Apple to buy Mastercard and Visa.

Chemtrade:  I’ve been overweight in Chemtrade for a while, the stock price has been flat ever since I bought into it.  However, I collected $0.10 per share each month from them, thus why, I kept it for so long.  I still have 300 shares left in my margin account and 1270 share in my TFSA.

Wynn:  This was bought on October 5, 2012 on purely margin.  I was looking for price appreciation.  The price on this stock was depressed for most of the time I held it.  Finally, it made a break for higher ground, so I decided to sell at a gain before it bottoms up again.

Apple:  I was up $500 on this baby when I held it in the first few days.  In hindsight, I should have sold it and taken the profit as I was on 100% margin.  But I decided to move the funds over to my TFSA where it ultimately cost me dearly.  Analysts are beating up Apple over its latest earnings report.  I still think Apple is a great company, but I can’t hold it any longer with losses up to my eyes.

Mastercard and Visa:  Both stocks, I have owned before and regretted selling them too early.  Now, I re-buy them at a higher price.  I am looking to hold them for a while to see if they will churn out even more gains.

Intel:  Bought this purely to make up some ground for my Apple loss.  Upcoming dividend of $0.2250/share will surely bring up the price a bit for the next week.

Getting Rid of my Old Credit Cards

17 Nov

On Friday, I called Capital One to increase my credit limit of $3000.  I’ve been a customer of theirs since May 2012, so it’s been over 6 months.  There were certain times where I needed to charge large amounts of money onto this particular card where I can earn 1.5% cash back.  But I just did not have enough credit to do so, so I turned to else where instead.

The Cap One Representative that I talk to did not budge as I wasn’t qualified for a credit increase.  He mentioned that this Capital One Aspire World Cash Mastercard usually gives out a higher credit limit up to $30,000!  Even though my credit history is impeccable and nothing to do with your annual gross, there is one hindrance:  I have way too much open current credit cards.  In order for me to get an increase, I must close down some of my other credit cards that I have collected over the years.

So far, I managed to close down my HBC Mastercard and RBC Gold Visa.  I tried to close down my line of credit at BMO over the phone, but was told that I have to go to the branch to do the deed.  For my Sears card, there’s no number on the back of the card!  So I can’t even call in to cancel my card.  Last, but not least… I called PCF Mastercard, only to be told that I have over 30,000 points that can be redeemed for $30 at Superstore.  I haven’t used that card in over 3 years I believe.  Now, I have to go through my desk to find the new card and activate it so I can get $30 worth of groceries before I close it down for good!

All of the agents I talked was “sorry” that I was leaving them and they value my business.  They asked, “Is there a reason why you want to close down your account?”  I simply told them that I need to lower my credit and that I was applying for a mortgage in the near future.  After that, they were all quite understanding and didn’t try their sales pitch to convince me to keep my credit card instead.

I decided to keep my CIBC Dividend Visa, since it’s always better to have at least one Visa in the wallet.  I am also keeping my BMO Mosiak Mastercard since that is one of my oldest card.

In the end, I still have the following credit cards:

  1. Capital One Aspire World Cash Mastercard
  2. MBNA Platinum Smart Cash Mastercard
  3. BMO Mosaik Mastercard
  4. CIBC Dividend Visa
  5. PCF Mastercard (Once I redeem my $30, I’ll be cancelling this card)
  6. BMO Mastercard (Line of Credit) <– Will have to go to Branch to cancel this card)
  7. Sears Credit card

My cancelled and old credit cards:

  1. RBC Classic II Student Visa (My very first card!)
  2. TD Visa
  3. MBNA Gold Mastercard
  4. HBC Mastercard
  5. RBC Gold Visa

In summary, I still have a lot of current credit cards compared to the average person.  There’s only two main cards that I use these days:

1) Capital One Aspire Cash
2) MBNA Smart Cash

 

 

Why are you down Mastercard?

5 Jan

Today, Visa gain 76c to $101.91 while Mastercard is slumping down $3.69 to $352.41.  My strategy of entering Mastercard at $357 on the down trend is not working out as I had planned.

I will wait to see a double digit gain in one day.  For now, I’ll just mop around with my recent buy.

 

Re-Entered Potash at $51.75

20 Sep

Fifteen minutes to closing, my coworker waltz to my desk telling me to add Potash to my position.  He already added 500 shares at $51.80.  So I followed suite and added 200 shares @ $51.75.  Potash on TSE ended up closing at $51.72, so I was off by a few cents. Hopefully, tomorrow will be a turnaround day! 

Side Note:  Visa climbed steadily after I sold out at $88.  Today, it jumped as high as $94.75 but ended up closing at $92.84.  I missed a few hundred bucks there!  But c’est la vie… you never know when a stock will turn on you.  Look at Netflix, it’s been nose diving since September 14th from $208.71 to $130.07.  That’s a big down silde within a matter of 5 trading days.  What is the bottom for NFLX?  As of now, it’s risky to get into it. 

 

 

Motion in Check

7 Sep

First trade for September is sentimental for me.  Visa ipo’d in March 2008.  This roller coaster ride has seen a high of $96 to a low of $44.  I’ve been right there from the beginning where all the excitement loomed on the hot new stock.  Many people made comparisons of Visa to Mastercard where it climbed into the hundreds in a mere few years.  Today, Mastercard has done quite well.  It’s trading around $333.00 since it ipo’d at $45.  Through it all, I’ve stuck with Visa hoping it’ll break the hundred mark, but that never transpired.

Today I say goodbye to my Visa.  My buy in 100 @ $64.66/share and sold out 100 @ $88/share.  I realize now that the buy and hold method has ceased many opportunities for me to really capitalize on Visa or other stocks.  But there’s no looking backwards, only the next trade is what I thrive for now.

Stock count:  12 current stocks

Mistakes!!

2 Sep

On July 16th, Visa dropped by a good 3.50 basis point.  It was a good opportunity to buy in and wait for a recovery in the short time frame which proved to be true.  Visa made a good  climb up by 4.55 basis points.  The only reason why I did not cash out was due to the exchange rates.  My profit was not $455.00 as I had anticipated, it was way less after the currency conversion.  So I held on.  After a good month and a half, I’m still holding to a non profiting stock.

In the meantime, Agrium was bullish all the way through.  If I had bought Agrium instead of Visa during that day, my unrealized profits would have been $1366.00.  Since I sold out at 52.45 at a pitiful loss, Agrium has climbed steadily to $75.60.  All this time, I kept on thinking to myself I’ve missed the boat.  It was bound to some draw backs.  But this mighty stock kept on trucking along just like my GQ.  Next time, maybe it’s best to just hitch a ride and enjoy the view!

Lesson:  No more USD stocks.  Buy on the uptrend.  Stop losses from getting bigger.