Line of credit vs credit card: What’s the difference?

Mohamed Konate


Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook. Read his full author bio

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Line of credit vs credit card: What’s the difference?
Published by Mohamed Konate | Updated Nov 24, 2023
Line of credit vs credit card: What’s the difference?
Reading Time: 4 Min Line of credit vs credit card    If you’re trying to decide between a line of credit and a credit card, it’s important to understand the difference between the two. A line of credit is essentially a loan that you can draw from as needed, up to your credit limit. A credit card, on the… Continue reading Line of credit vs credit card: What’s the difference?
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Statutory Holidays in Canada 2023
Published by Mohamed Konate | Updated Jan 12, 2024
Statutory Holidays in Canada 2023
Reading Time: 4 Min   Do you know which statutory holidays are coming up in Canada in 2023? If you’re planning a trip or just want to know when you can next enjoy a long weekend, read on to find out!  We’ll also tell you a bit about the history of each holiday and why it’s celebrated. So whether… Continue reading Statutory Holidays in Canada 2023
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What are the leading causes of death in Canada?
Published by Mohamed Konate | Updated Jan 12, 2024
What are the leading causes of death in Canada?
Reading Time: 4 Min In Canada, heart disease is like a silent stalker claiming around 30% of lives – an alarming statistic compared to other developed countries; thus spotlighting the urgency for prevention tactics such as regular workouts and nutritious diets that are sadly overlooked due to lifestyle habits or cultural practices boosting heart disease susceptibility. So it’s clear:… Continue reading What are the leading causes of death in Canada?
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What is a Bank Transit Number?
Published by Mohamed Konate | Updated Nov 20, 2023
What is a Bank Transit Number?
Reading Time: 2 Min   A bank transit number is a five-digit code which identifies the financial institution in Canada where you have opened your bank account. It is used to process payments, deposits and other transactions. It’s important to understand what a bank transit number is and how it is used by financial institutions.   How Does it… Continue reading What is a Bank Transit Number?
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What is a Routing Number in Canada?
Published by Mohamed Konate | Updated Jan 12, 2024
What is a Routing Number in Canada?
Reading Time: 2 Min If you’ve ever wondered what a routing number is and why it’s used in Canada, you’re not alone. In this blog post, we’ll explore everything you need to know about routing numbers in Canada, from what they are to how they’re used. We’ll also discuss some of the most common questions people have about routing… Continue reading What is a Routing Number in Canada?
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What Is a T4 Slip in Canada? What you need to know
Published by Mohamed Konate | Updated Nov 20, 2023
What Is a T4 Slip in Canada? What you need to know
Reading Time: 3 Min   In Canada, a T4 slip is an official document that your employer completes and sends to the Canada Revenue Agency (CRA) at the end of each year. The T4 summarizes the total amount of money you earned from your job during the year, as well as any deductions that were made from your paycheque.… Continue reading What Is a T4 Slip in Canada? What you need to know
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