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.