On the other hand, it is a highly risked move to borrow money to invest, say, in RRSP, or any other type of stock investment. Most financial planners will discourage people from doing so.
Leveraging like this makes investments very risky. I have broker accounts but margin trades are not set up, on purpose!
Additionally, avoid credit cards that have rewards on them. They end up costing more for the consumer as well as the retailers, who in the end are raising prices to make up for the losses.
Sorry. I gotta play the game. I've got four cards, all with cash-back rewards. Every purchase I can make via a card I do so.
My other bank has proposed that I get a Visa from them, but I politely refused, as I seen no clear advantage in having both a MasterCard and a Visa. I told them that I may be considering an Amex since one or two big chains here only accept it as a means of payment, and they didn't have any.
I've got Amex only for Costco (it's the only card they take). The other three cards have varying quarterly 5% cashback offers, so I determine what card to use by the current offer. BTW, a Discover card gives 5% off at the online Apple Store, even on refurbs.
I kept my card at $9k mainly because I know that hitting more than two-thirds of the limit on a card is detrimental to one's rating, and that it was historically harder to get a limit increase than a decrease. Does this still holds true?
I don't know. I've never asked to get a limit increase.
One thing I still don't know: I was told that a credit card account that has been opened a long while ago was worth more "positive weight" in the credit rating than a recently-obtained credit card. Is that true?
Certainly true. Opening an account basically reduces your pool of available credit so will at least temporarily reduce your credit rating. Opening multiple cards is a "red flag." This is another reason not to open an account for just one purchase.