Savvy New Canadians Editorial Guidelines

The Savvy New Canadians team works to provide financial clarity, literacy, and the most up-to-date information on investing, retirement planning, banking, credit cards, loans, and other financial topics.

Our Mission

Our mission is to help Canadians become better with their money. We want to empower you to make smarter financial decisions no matter where you are in your financial journey.

To accomplish this, we work to provide you with reliable and up-to-date information and resources on personal finance topics in Canada.

Our Principles

Trustworthy. We provide unbiased opinions of personal finance products and services that are informational and for your benefit. Our team of writers and editors rigorously fact-check the information we publish and promptly correct errors when discovered. 

Honest. We give our honest reviews and opinions on products and services mentioned on the website. We always point out the drawbacks and benefits, as we want you to make informed decisions with all the facts. 

We don’t promote anything we wouldn’t personally use. We only mention the best credit cards, banking, loans, and other financial products and services that we would use ourselves. 

Up-to-date and accurate information. Articles on our website are reviewed and updated regularly to reflect the most accurate information. See something that isn’t up-to-date? Contact us or leave a comment on the page, and we will address it promptly

Fact-checked. When writing articles and updating our website, we rely on authoritative and reputable sources, linking to them whenever possible. 

Reader-driven. We focus on the content and information that benefits you, not us. We review products and direct you to sources to help you become better with your money. When possible, we provide detailed comparisons with similar products so readers get diverse options to choose from.

Accessible content. We write our content clearly and concisely so that anyone can understand it, no matter your level of financial knowledge. We take the steps to include captions and alt-text whenever possible to provide the most accessibility. 

Rating Methodologies

Here is some information about the processes and guidelines we follow when reviewing products and determining our ratings. 

How We Review Credit Cards

The Savvy New Canadians team assesses credit cards based on the following factors:

  • Annual fees
  • Interest rates
  • Welcome bonuses
  • Rewards and their cash values
  • Categories
  • Insurance coverage
  • Ongoing value of base offers
  • Relevant perks

We carefully evaluate each credit card and place more weight on the value of the long-term rewards each card offers. Only credit cards we would personally use are recommended. 

The ranking placements for credit cards featured on the site are also affected by reviews and comments from readers. We revise rankings based on comments and complaints from real users after considering the validity of the issues raised.

While we personally recommend these credit cards, they may not always be right for you. Always visit the website of the credit card issuer to see the most recent offers and their terms and conditions.

How We Review Banks

We rate bank accounts in Canada based on the following factors: 

  • Monthly or yearly fees
  • Transaction limits
  • Minimum balance requirements
  • Convenience (such as access to in-person support and ATMs)
  • Savings rates
  • Sign up bonuses
  • Perks (such as loyalty programs)
  • Availability of mobile apps
  • Other key features 

We carefully evaluate each bank account’s offerings, and our scoring methodology places more weight on each account’s overall value (75%). 

For deposit investments like GICs, we rate bank offerings based on the interest paid, minimum deposit amount, types, and terms.

We recommend bank accounts based on our research, but they may not be suitable for you. Visit the bank’s website for their most recent offers and terms and conditions.

How We Review Investment Platforms

We rate and recommend brokerage platforms and robo-advisors based on the following:

  • Tradeable securities 
  • Account types offered
  • Trading commissions or management fees
  • Account minimums
  • Administrative fees, including inactivity fees
  • Mobile app versatility
  • Customer support

Our ratings for cryptocurrency exchanges are based on similar data points, plus factors including withdrawal fees, the ability to transfer coins to external wallets, coin selection, staking, and regulatory approvals.

We do not offer investment advice or brokerage services and do not recommend buying or selling particular stocks, securities, or other investment products. Visit the website of the broker or investment company to see their most recent offerings, fees, and terms and conditions.

How We Review Loans

The Savvy New Canadians team rates personal loan providers and lenders in Canada based on these factors: 

  • Interest rates
  • Loan terms
  • Loan amounts
  • Ease of application
  • The types of loans they offer
  • Affordability
  • Fees, such as origination and prepayment fees
  • Customer support and free financial resources

We recommend personal loan companies based on our research, but they may not suit you. Always visit the website of the loan company or comparison site to see the most recent offers and their terms and conditions.

How We Review Insurance 

We assess insurance companies in Canada based on these considerations:

  • Type of policies 
  • Coverage amounts 
  • Cost of premiums
  • Ease of application 
  • Company reputation 
  • Customer reviews

We carefully evaluate each insurance broker’s offerings. While we may recommend a certain insurance provider, they may not be right for you. Visit the insurer’s website to get a quote and read their updated terms and conditions. 

Ratings and What They Mean

When we use a star review rating system, this is what the numbers mean:

  • 1 star: The product or service is not recommended.
  • 2 stars: The product or service is below average compared to competitors
  • 3 stars: The product or service is average among its peers
  • 4 stars: The product or service is above average compared to competitors, and we think it is good
  • 5 stars: The product or service is excellent, and we believe it fully delivers on what it advertises

How Do We Make Money?

Savvy New Canadians is supported by our users. When you click on an affiliate link and sign up for an offer, open an account, or download an app, we may earn a commission at no cost to you. Compensation from partners and advertisers may influence which products we write about and where they appear on the site, but does not affect the objectivity of our evaluations.

You can read our disclosure for more details on how we make money and our about page for information on our founder, Dr. Enoch Omololu, and his financial expertise and educational background.

About Savvy New Canadians

Savvy New Canadians is one of Canada's top personal finance platforms. Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. Learn more about Savvy New Canadians.

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