MBNA Smart Cash MasterCard credit card

Investing through ETF is one way to earn passive income through investing.  However, everyday, you spend using your credit card.  A great way to save and earn more is purchasing grocery and gas through the best no-fee cash back rewards in Canada.  

In a promotion with  Great Canadian Rebates, a truly Canadians to save earn money back through purchases items online.  Great Canadian Rebates is offering $60 rebate by signing up the credit through the website.  You will need to go to the link above, sign up and click on the MBNA Smart Cash MasterCard link.

Sign up for the MBNA Smart Cash MasterCard here.  You must go through Great Canadian Rebates link in order to earn $60.  You must not exit the browser and come back to sign the link.  See Great Canadian Rebates for more details.

Here is the summary of the Benefits for using the MBNA Smart Cash MasterCard:

• Up to 5% cash back on qualifying net retail gas and grocery purchases for the first 6 months
• Up to 3% cash back on qualifying net retail gas and grocery purchases thereafter
• Up to 1% cash back for all other qualifying net retail purchases
• Around-the-clock fraud protection
• Free online access to your credit card account
• 1.99% annual interest rate on balance transfers, access cheques and deposits for the first 10 full months
• No annual fee  free additional cards you’ll start to see the benefits right away
• Once your cash back totals at least $50 at the end of a monthly billing cycle, they’ll automatically mail you a cheque - it’s that simple
• MBNA is now part of the TD Bank Corporation

Only the first $600 spent each month will earn 3% cash back rebate paid on gas and grocery purchases All other purchases thereafter are eligible for 1% cash back.  Other purchases other than gas and grocery will earn you 1% cash back.  Notice that Walmart SuperCenter also earns you 3% even with non-grocery items!

Not looking too good...

There are several factors indicated the market is heading lower:

1) Several indexes did not pass through the resistance from last year high around April, May or July 2011.

2) Greece issue and what do to do next

3) Have a health gain in late 2011 and early 2012.

I just sold some mutual funds on DJI, S&P and Financials.

Bank of Nova Scotia could raise $1.65B with share offering

Today, Bank of Nova Scotia will offering sale of its share priced at $50.25. It is a smart move by Bank of Nova Scotia as it seems to be in a good market right now to issue more stocks. Same as Facebook announced it will too issue IPO in a few months of this year. It is one the most talked about IPOs of the year.

BNS is $50 has a strong support and it is a good entry. If it fell below $48, it will turn into a negative trend for the stock. BNS has increase dividend from $0.49 to $0.52 last year on April 1, 2011.

More news from National Post

After 3 consecutive Down Days for Financial Sector

After felling to pass through the high since July 2011. It has fell 3 consecutive days for financial sector stocks. Today, it continues to fall further. The Fast Stochastic Oscillator (FSTO) is falling close to 0. It seems we have reached a mini over-sold position. A light rebound might occurs in the near future for short term sellers.

More news on Interest Rate

Feb announced US Interest Rate will continue to stay at historical low until late 2014. Possibly going to stay low until 2015. Hence, stock market gain as the result late afternoon. This gives dividend paying stock even more attractive. I am now pausing further selling of financial companies. The financial companies as a group could pass the July 2011 high and test the double tops occurred on April 2011 and June 2011 respectively.

Financial Services Sector (Part II)

It is testing July 2011 high point and it seems that it will be down day today for the financial sector. I will assume that we are reaching the over bought area and some profit taking will take place today and coming days.

Financial Services Sector

I noticed with the recent uptrend for the Canadian Banking Section starting beginning of December 2011, It is already increase well above 5% from the low point of Nov 25, 2011. It is about to test the high point for the month of July of last year. I am about to sell some of my positions around this area and see if it pass through the resistance mark.