My first 10 000$ credit card

I just received last week my first credit card of 10 000$. I received it from RBC. RBC is like my favorite bank right now. I don't plan to use that credit card. The interests are very high, 18.9%, just like my CIBC Visa that I currently used for my regular purchasing. I will leave that credit card in my drawer. I use it to buy everything, from groceries to the latest biography of Brian Mulroney that I just met today at the library Renaud-Bray in Montreal... lol

The Visa Caisse Desjardins offer a credit card at 9 and something percent interest. I ask for a credit card with RBC because since I have more than 5 000$ with them in mutual fund, with a credit card, I can have a free bank account and a special account where I can buy my mutual funds by myself. I will no longer need to get through a representative, which is great, because every time I went to buy a fund that I really want and that I am excited about, I am having problems. Representatives have to respect different % in the mutual funds you buy, so you cannot always have the funds you want. It's the rule, but let's breaks them and makes things on my own little way.

For example, the first fund I buy was RBC O'Shaughnessy Canadian Equity Fund. I gave 2 000$ on that first time. Later on, I put another 1 000$ in the fund, just before it's close to new investments. After that, I wanted to buy the RBC Global Resources fund, but I was told I couldn't. Anyway, it gets very annoying and last time I went to RBC, I had to buy a US mutual fund so I could buy my Global Resources. I had too much put in Canadian funds I was told. But yeah, Canadian funds aren't the best of the word? I believe they are.

I hate my RBC O'Shaughnessy International Equity Fund and my RBC U.S. Mid-Cap Equity Fund C$. I will get rid of those as soon as I can. For one, the International Equity Fund, the 90 days period is over so I can sell it whenever I want. But in date of today, the initial 1 000$ I invest in it only worth something like 971.14$. So I won't sold it now, I don't want to loose any money. I just hate the situation. I dislike International Fund. I also have distinct fund that buy at Manuvie and unfortunately, I have buy also there International distinct funds and I have to say I regret. I know I have to buy something else than Canadian fund, but International and US funds are just not that great. I also plan to get rid of my US fund in Canadian $ as soon as possible. But for that fund, I have to wait for 90 days or something like that before selling it. It's really killing me.

I am interest in China, Latina and Precious Metals Fund. RBC should offer China and Latina Fund. I have an eye on the China Fund of HSBC. The one of BMO seem to be great to. For Latina, CIBC seems to have a great one. Also TD.

Now that I have a RBC credit card, I just need to fix an appointment to open a bank account and the other special account, all for free. But that can wait, I don't need it now. I still have money to invest, but I am too busy with other thing for now. I just can’t wait for my first 50 000$. When I will reach my first 50 000$, everything will be a lot easier because the amount of money made on the 50 000$ will be a great return.

New best buy

My new August 2007 mutual funds:

RBC Global Resources Fund: 1 000$
RBC U.S. Mid-Cap Equity Fund C$: 2 300$

Those are ad to my previous investments:

RBC O'Shaughnessy Canadian Equity Fund: 3 000$
RBC O'Shaughnessy International Equity Fund: 1 000$
RBC O'Shaughnessy All-Canadian Equity Fund: 1 100$
Fonds Desjardins Fidelity Frontière Nord: 1 000$

Total of non RRSP investment: 9 400$

I am just putting here the amount of the initial investment in here. I prefer not to calculate what they worth now, because are of those funds above are in red right now. I am closing my eyes for now and I will check the value of my funds when they will be back in green.