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Sunday, May 24, 2015

I am getting the star treatment at CIBC

A couple of weeks ago, if you remembered, I had received a call from a representative of RBC Royal Bank, asking me to review my account with them. I declined their offer because a few years ago, for no reason at all - and no sign of change with the prime rate - RBC decided to increase the interest rate of a credit line that I had with them and that I was using. I only had a small balance and had several thousands in investment with RBC Royal Bank at the time, but no matter what, a decision was made to increase the interest rate. And in result of course, as you may already know the story, I sold all of the investments I had with the no class bastards and I quickly paid of my credit line. I stop using my RBC credit line, as well as my RBC credit card. For me, RBC Royal Bank mean nothing at all, if not only shit.

I had a very bad experience with RBC Royal Bank, but fortunately enough, its not every bank in Canada that like to treat the Dividend Girl like a real piece of shit. I am not repeating myself with my old dying stories like you may think, but I am coming to it. I had received a call from a CIBC representative. That one wanted to give me a credit line at a very low interest rate, something like 6.25%. So I told myself, why not? After that, my idea is to withdraw all of the credit I hold, all of the credit lines and credit cards I have, put the cash in a suitcase and fly to the in deep jungle of Vietnam where no one could find me. Of course, this is a joke, but... LOL.

I want to take advantage of the CIBC offers just to show off. After all, it won't cost me anything and it will be there in case of needs, just like the thousands of other dollars I have in credit at my disposal. CIBC bank did the right thing, they decided to treat me like a princess and you know what, they are totally right about it.

Glentel Inc. (GLN) is no longer trading on the stock market, but the stocks still appear in my online portfolio, but with the mark of an * so I guess it mean something is pending. I had been thinking of new investments to take over the left place - and why not CIBC? After all, Canadian Imperial Bank Of Commerce (CM) pay a good 4.4% dividend yield distribution to its investor. I may invest in CM inside my non-registered portfolio. I am pretty sure that CIBC has a very good loan margin value. Maybe even 80% and I do need high margin value stock like that inside my non-registered portfolio.

And for my TFSA, to take the place of Glentel Inc. (GLN), I am still thinking. Maybe BIP.UN, but I don't know yet.

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