Apartment complexes and landlords use applicants’ credit score to decide on whether to rent their place or not. Poor credit can be a reason to end up homeless but only if you look in the wrong places.

Naturally, different landlords and apartment complexes differ in their requirements. You may see your rental application denied if you have bad credit even if you have a high salary and an excellent rental history.

Where do you start then? If you have poor credit, the easiest way to get a place is to find a landlord who does not run credit checks. Apartment complexes require one as they are managed by property management businesses. If your credit score is poor, they will probably turn you down, so you should look someplace else.

One way to find an apartment (even if you credit score is not exactly stellar) is to look at the classified section of local newspapers. This is where many landlords advertise for rentals. Do not miss the Sunday’s paper as you will find the most advertisements in it. You may also check online, with many newspapers posting classified ads in their online editions as well (About.com).

As you talk to the landlord, inquiring about an apartment, it pays to ask about the criteria used as part of the selection process. Naturally, if credit history is not among them, this is one thing not to worry about. Even if they require a credit check, it is important to be honest and open about any blemishes on your credit history. The landlord will feel better if you are honest and upfront rather than secretive and sneaky (Relocate Canada).

Then, even if the landlord requires a credit check, it is important to make good impression. And nothing gives better inside into what tenant you are than references from previous landlords. Your letters of recommendation should state that you paid the rent in a timely manner, followed the leasing rules, and kept the place in good condition. You may also contact persons with whom you have a good financial relationship, for example, your current employer or your bank.

Keep in mind that landlords take into account other factors as well, such as where you work and what your income is, whether you smoke, have pets, and how many people will be moving in. It is not only credit history landlords take into consideration. On the other hand, there are certain questions landlords cannot ask regardless of whether your credit score is poor or outstanding. For example, they cannot ask what your religion, sexual preference, or ethnic background is. Landlords cannot ask whether you plan to have children or whether family members will be visiting. In addition, they are not allowed to ask whether you are divorced, single, or married. Finally, landlords are not supposed to request your social insurance number and threaten they will not rent if you do not provide it. In general, regardless of your credit standing, you are not required to answer questions that infringe on your rights under the Human Rights Code in your province (Canada Mortgage and Housing Corporation).

Gift cards are considered a lazy gift by many: rather than taking the time to find the perfect gift for your loved ones, you just buy a gift card online, discounted one at that.

What if a gift card ranks high on your wish list? Some people like the idea of getting a gift card because it gives them control over what they can use the money for. However, author of What Investors Really Want and expert in behavioral finance Meir Statman notes that gift cards actually make people spend more than the amount they have received. If you get a gift card preloaded with $50, the chance is that you will spend more than this. Spending the exact amount is somehow difficult, and the brain decides that it is much easier to spend at least $50. Moreover, people make more frivolous purchases when using a gift card than when using gifts of cash.

Gift cards which act pretty much like cash, for example, the prepaid Visa cash card variety come with different issues. Customers can use such cards everywhere they shop with a regular credit card, but they can incur hefty fees. Thus, depending on where the gift card is purchased, it may come with high foreign exchange fees, an extra 2.5-percent charge, and a monthly maintenance fee. Some card issuers stipulate that if the gift card is not used before the expiry date, a closing fee equal to the remaining card balance is charged (the Globe and Mail).

Even when gift cards are not a drain on one’s finances, they are not the best idea for a present. Some people get a card they cannot use – you gave up drinking coffee and receive a coffee-shop card or you are a vegetarian but Aunt Polly (who always forgets this) gave you a steakhouse card). Even when a gift card is given as a present with the best intentions, it may not be a good fit for the lifestyle of the recipient. According to the Consumer Reports magazine, 1 out of 4 gift cards given as a present remains unused for over a year, and many gift cards are ultimately discarded or lost. The average household in Canada has more than $300 in gift cards, which are lying around unused. These wasted gift cards amount to $1 billion, which is spent to be thrown away every year (Card Swap).

What to do with unwanted gift cards? You can sell them, give them as a present to someone who is likely to take advantage, or donate them. One option is to get the cash back. Websites such as Card Pool, Cardwoo, and Plastic Jungle take gift cards for a small fee. Another option is to sell the gift card directly, offering it though Craiglist or eBay. A third option is to donate the card to your favorite charity. Many of them accept gift cards and use them to provide services and care. Thus, your donation will stay within the community (Technorati).

With the technology offered by Visa, credit card purchases are just a click away. Visa’s digital wallet stores debit and credit card details for Visa and other credit cards, and customers can take advantage of the opportunity to make click-and-buy transactions. Whether on a mobile at the mall or at the computer, making purchases requires clicking a button only. Shopping is made much more convenient as customers do not have to manually enter account details.

The widespread use of mobile technology and Internet has changed the way people transact and connect around the world, explains Visa Canada’s head of products Mike Bradley. It is not only in Canada that we see a migration away from checks and cash, and it goes along with a migration toward the security and convenience electronic payments offer.

What are some of the special features offered with the new technology? Visa’s digital wallet comes with a menu, giving clients the option to set preferences for how the digital wallet will work. It allows users to control and customize the features of the wallet – they can designate an account to be accessed, depending on the purchase amount or merchant type, and control their privacy settings. Customers can opt to receive promotions and discounts from participating merchants as to personalize their shopping experience. Additional features extend the capability and utility of payments and create new opportunities for clients to use Visa credit and debit cards (Credit Cards).

To spur the adoption of the new technology, Visa started a new developer program that will make it possible for financial institutions, merchants, gaming developers, and retailers to access their payment system. Visa envisions the new technology as an open payment system in that, consumers can fund it from different credit cards. Moreover, it can be used to pay for purchases from anywhere. The developer program will make it easier to initiate and accept payments on mobile phones. Game developers, for instance, can use these tools for creating simpler in-game purchases. Wal-Mart, Target, and other big brand retailers can make use of the tools so that it is easier for customers to make purchases from their websites via mobile phones. Apart from making it easier to pay via a mobile phone, Visa hopes that developers can use these tools to create easy ways for people to make person-to-person payments internationally and domestically (CNet).

There are other benefits to using Visa’s digital wallet, and a major one is that clients can make purchases without having to share their account details with sellers. The secure checkout allows for quick transactions by entering one’s password and email address. Customers can choose which credit card to use when making purchases, including Discover, American Express, MasterCard, and Visa. Moreover, customers can track all of their purchases in one account. At present, Visa is working on offering its clients the ability to get relevant deals, receive and sent money, make mobile payments, and donate to their favorite cause (V.me by Visa).

The TD Canada Trust 2011 Report on Savings has revealed that 38 percent of Canadians do not have savings, and 54 percent of them find it impossible to save. What are the main reasons Canadians cannot save enough or nothing at all? Some 30 percent of them do not earn enough to meet their living expenses, 39 percent spend a large portion of their disposable income to pay off debts, and 12 percent of Canadians shop and live beyond their means.

There is more to the story. Many Canadians make credit card mistakes that prevent them from saving. To begin with, some people pay 10 percent or higher in interest rates on credit cards and save money on no or low interest accounts, explains chartered financial planner Jonathan Taylor at Ross Taylor Financial. Some Canadians hold onto high-interest loans and other debts while paying down credit cards with low interest rates. Moreover, borrowers tend to opt for top rates so that they do not have to pay an annual fee. Others do not make the most of their low interest credit card, meaning that they do not use it to pay back high-interest debts (Credit Cards).

Other mistakes to avoid include missing to check foreign transaction fees, giving other people signing rights, and not calling the bank to reduce the interest rate on high-interest credit cards. Those who are trying to reduce their debt should ask credit card issuers if it is possible to get a reduced interest rate. It is a wise idea to gather a couple of offers for low interest credit cards and threaten to leave if the issuer does not agree to lower your interest rate (US News). To many people, calling their credit card company or bank to ask for a lower rate of interest sounds intimidating. But remember that financial institutions are used to cardholders emailing and calling all the time. Point out that you consider declaring bankruptcy or that you are a good customer and you have received a couple of offers from other card issuers you may consider (Canadian Living).

Apart from credit cards, many Canadians make other mistakes that prevent them from saving. One is not taking advantage of lines of credit. Debtors can use a line of credit to lower interest charges and pay off multiple debts faster, notes Jonathan Taylor. For example, a person who has $20,000 on a line of credit and has his paycheck deposited into it may choose to pay all bills using the same credit line. In this way, interest charges are shut down for days or even weeks. Debtors who make use of this strategy save between three and four percent in interest which is tax-free. Note that the government taxes people on earning money not on saving it. Finally, many people do not take advantage of the possibility to discuss their situation with a financial adviser. This is a good way to learn how to reduce costs in taxes and maximize returns (Credit Cards).

The average Canadian who declares bankruptcy is a married man, 41 years of age, who owes $59,800 on average, and has four credit cards, shows a report by bankruptcy trustee Hoyes Michalos & Associates. This is the portrait of a bankrupt Canadian, but what factors contribute to accumulating excessive debt?

Reduced income and job loss obviously increase the risk of insolvency. Debt is not a problem per se for many people. The inability to repay debt is the real problem, which is the case when income drops. At the same time, credit card debt makes the largest category of debt. To this, the average Canadian who files a consumer proposal or declares bankruptcy has four or more credit cards and owes $24,390 on them, explains Hoys from Hoyes Michalos & Associates.

Moreover, it is easy to see why Canadians find it hard to service credit card debt. Interest rates on department store credit cards are as high as 25 percent, and the major credit cards come with interest rates of 19 to 20 percent. Moreover, credit cards offer a quick and easy access to money. Persons who are unable to repay other types of debt or lose their job can use a credit card to charge purchases or get a cash advance. It is only natural to use a credit card as a survival strategy, especially in the face of an external shock such as a marriage break up or medical problem (Credit Cards).

According to the report ‘Joe Debtor: the Face of Bankruptcy’, 94 percent of insolvent persons have credit card debt, carrying three all-purpose credit cards (American Express, Visa, MasterCard). 84 percent of debtors have a credit card from a Canadian financial institution, with a balance per card at $7,917 on average. Then, 73 percent of debtors carry a credit card from a non-Canadian financial institution, including MBNA, Capital One, and American Express. The balance per credit card is $5,732 on average. Compared to credit card debt ($24,390), the average Canadian owes $13,761 in bank loans, which is two times less.

Notably, female bankrupts have a slightly higher credit card debt compared to male debtors. In addition, more and more older Canadians (aged 55 and older) carry debt when entering retirement. Some debts are house-related, but an increasing number of older Canadians carry significant credit card debt. Combined with a reduction of income, due to an unexpected expense, illness, or retirement, high level of debt, and credit card debt in particular, is a major reason to file for bankruptcy (Face of Bankruptcy).

Knowing that credit card debt is a major contributor to bankruptcy, what can be done to avoid insolvency? To begin with, high-fee and high-interest credit cards can be dangerous in that they contribute to debtors’ inability to service debt. Credit cards, high-interest or low-interest, are only part of the problem, however. When spending habits and poor financial management keep going on unchecked, debtors soon find themselves in the camp of all those who consider bankruptcy their only option.

The malls are already decked, and the holiday spirit is all around, with Canadians feeling jollier and in a gift-giving mood compared to last year. The median budget is about $477, while those whose income is over $150,000 are ready to spend $816 on average (CBC News Canada). A recent survey by Ipsos Reid is even more optimistic when it comes to gift giving. Despite the shaky economy, some 80 percent of Canadians or 8 in 10 are going to spend $640 on average, which is up from $640 for last year (Ipsos). Still, it seems like a reasonable holiday budget.

Personal finance experts remind that while the amount may seem low, gifts are not the only thing to spend money on during the holidays. It is important to come up with a budget, notes RBC’s regional vice-president Glenn Sinden. There are other things on the shopping list to budget for, including travel, drinks, food, and more (The Globe and Mail). According to a TD Canada Trust Poll, when all holiday expenses are factored in, shoppers are going to spend close to $1,100 on entertainment, gifts, and food this holiday season. While 28 percent or over a quarter of respondents plan to spend about $500 or less, 22 percent of Canadians expect to spend at least $2,000.

Whatever the budget is, it is important to stay within the planned amount, and this is easier to achieve by getting organized and planning ahead. You have your shopping list and double checked it, but festive décor and lights may make you go overboard. One way to track your spending and avoid holiday credit card debt is to use one credit card for all purchases, explains TD Credit Cards’ Associate Vice President Pam Paddon. So, bring cash and only one credit card, leaving the rest at home (you should do this all the time, not only during the holidays). This will make it harder to charge too many items as you will have only one card.

It is a good idea to check your card account on a regular basis so that you stay within your budget. This also reminds you to pay your credit card balance in full and on time (CNW Canada Newswire). Of course, it is important to use your credit card responsibly because your credit score may drop due to high balances. Spending over one-third of your credit limit is likely to affect your credit score, on top of accumulating credit card debt.

When you do your holiday shopping, it is important to stick to your shopping list. Ignore big sales. In most cases, they are just masked as sales. Those ‘By two, get one free’ ads trick shoppers into going overboard. In fact, it is better to shop around online first. This is one way to stop yourself from buying on impulse. You can look online to decide what gifts to buy and then head to the mall. Finally, if you are to stick to a budget, do not shop for yourself. You may end up spending tons of money if you go shopping with the ‘one for you, one for me’ mindset (About.com).

Debt problems can affect your health in many ways, leading to depression, explosive emotions, and heart attacks. Negative bank statements, visions of collectors, foreclosures, impending lawsuits, and repossessions can spook anyone out of sleep.

In fact, young persons who have credit card balances of more than $1,000 use more prescription medications for depression, smoke more, and drink more. Students with credit card debt have lower grades than those who do not have credit card debt. Debt affects retention rates, study habits, and students’ overall academic performance. In some cases, debt has been associated with suicide (Securities Division).

According to the AP-AOL Survey, persons with high debt stress face a higher risk of developing a number of medical conditions. For example, 27 percent of interviewed had digestive tract problems and ulcers, compared with only 8 percent of those with low debt stress. 29 percent complained from severe anxiety, while only 4 percent of persons with low levels of stress reported this problem. 44 percent have headaches and migraines, compared with only 15 percent. Severe depression was reported by 23 percent, while 4 percent of persons with low debt stress suffered from depression. Moreover, 6 percent of interviewed reported having heart attacks, which is double the rate of persons with low levels of debt-related stress. Research studies suggest that the reported symptoms are associated with chronic stress. It provokes a flight-or-fight response, and the body releases the stress hormones cortisol and adrenaline. This reaction makes it possible to react quickly in emergencies. However, if the person stays in high gear for a long time, the chemical released can affect a number of systems. This leads to problems with digestion, memory, and mood, a rise in heart rate and blood pressure, affecting the immune system as well (Mental Health). Abdominal complaints vary, ranging from ulcers requiring surgery to sour tummies that need a daily intake of antacids.

Other health problems have been linked to credit card debt as well. Some people cope with problems, including financial issues, by overeating. Others cannot hold food or eat because they are anxious. This can make them weak and frail to the point of getting sick. Regarding substance abuse, financial problems do not lead to addiction per se. However, those who turn to alcohol and drugs in order to deal with stress are at risk of going down this path. Truly, relying on substances to numb you from the reality of your financial situation may look like a way to feel less stress. It does not solve anything, however, and the consequences can be devastating. 

It should be noted that everyone has different physiology. Debt-related stress can lead to overactive sweat glands, a weakened immune system, hair loss, or other problems. The ways debt may affect you vary considerably. If you have piled credit card or other debt, you should be aware of pains and aches that occur, taking promptly action to contend with health issues in a healthy way (Credit Cards).

Most of the people who do their shopping online feel safe performing e-commerce operations because they are sure their credit card information is protected. After all, so many experts out there assure us that this is the case and we need not feel anxious when visiting commercial sites and buying things from e-merchants. This is true to an extent – namely where big company sites are concerned. With small commercial websites, this is not always true.

Online shopping keeps prospering even though there have been so many big-time security breaches in the news lately. Thousands of credit card numbers are at risk, yet the shopping goes on and on. Today, hackers are targeting small, commercial websites more and more often, on the prowl for unprotected credit card information.

In some cases, con artists actually attain real-time access to these small websites, which allows them to steal valuable credit card information and speedily rack up debt, to the bewilderment of the credit card holders. Very often they are successful. Why is this? The software smaller sites use is often defective, including that for order processing or security. Smaller merchants tend to use generic shopping cart software that they fail to update on a regular basis. And this is a big mistake because, as we know, software security is one of the most, if not the most, dynamic segment of computer technology out there. New and new and improved viruses keep coming out, and new security systems appear accordingly. Then a virus comes that beats the new system, so another system comes out, then another virus, and so on. Believably, the same people producing viruses are those offering security systems.

How do cons get their hands on information available to small commercial websites? This is possible via website background checks. Stealing a credit card number is what identity theft usually starts with. In many cases, the people who steal these numbers sell them to other conmen via underground chat rooms. Credit card information is stolen and traded wholesale – a huge amount of numbers is sold at any given point in time. But the number is not the only info the scammer has. He has a lot of personal information too, which helps identity thieves a great deal. This information can include phone numbers, addresses, e-mail addresses and other data.

There are ways to catch these people in the act, but it is not always easy. For example, your credit card bill shows that you donated a dollar to some kind of charity organization in Canada. You do not remember doing this and have never heard of this establishment. You will probably thus overlook it, and if you do, this means you have made a big mistake. Such small, inexplicable details can help the conman determine whether a credit card is still valid.

Note that the risks involving credit card data provided at small commercial websites in the course of transactions are grave enough as to have prompted Visa and MasterCard to threaten to enforce fines on online businesses, which do not take adequate security measures. Digital security limitations account for 80 percent of all credit card related breaches. These limitations include missing or outdated software security and poorly or incorrectly configured web servers.

Most people scoff at hearing they can work from home and become billionaires. Many will laugh at the idea of a magic pill, which can make you look like a model in 24 hours. But when they hear that a debt relief program will wipe out their debts, they wonder if this is possible.

With the global financial crisis and rising unemployment, many people have accumulated large amounts of debt and are behind on credit card payments. This creates a receptive audience for debt settlement companies and their services. However, some programs can make your debt crisis worse much like you can gain weight after being on a new diet.

A lawsuit in Canada’s southern neighbor, brought by Florida’s Attorney Bill McCollum is a case to consider. A debt settlement company told its clients to stop making payments to their card issuers, sending the money directly to the company, which promised quick and painless debt reduction. Not a penny was sent to the credit card issuers, with the group paying processing and attorneys’ fees only (USA Today).

This is not all. Some counseling services disguise themselves as non-profit entities while they operate as for-profit companies. Claiming to be non-profit, these companies convince clients that it is safe to sign up for their services. They simply prey on consumers’ trust. Some companies also mislead potential clients that there is no fee or a small fee, then asking significant amounts of money. As part of this credit card relief scam, clients send the company a check for $300. They are left with the impression that the money is used to pay their credit card debts. It turns out this is a referral fee, used to find a debt settlement company that will supposedly help them (MSN Consumer Man).

How to avoid credit card relief scams? Do not trust debt termination and debt relief companies that promise to eliminate all of your debts ethically, lawfully, and legally, free-of-charge. There is usually a hefty up-front fee. Some may charge you as much as a couple of thousand dollars to get you started. If the settlement company receives its payment upfront, they do not have an incentive to get the work done. The fees you are charged have to be tied to results.

Then, you may get a document, which states you do not have to pay your debts back in case you are sued. No court looks favorably on this if and when things turn sour. There are other signs to watch for – tell-tale signals that the debt relief company is illegitimate. If they cannot supply a legitimate email, phone number, and physical address, this is a clue you should not deal with them. Even if they provide this information, it pays to check it out.

Beware of debt settlement companies that claim your credit score will not be affected. This is far from true. The settlement procedure can reduce your credit card debt, but your credit score will be damaged.

For many, using a credit card abroad is safer than carrying cash. While this is a popular strategy, there are some challenges to using a credit card abroad.  Travelers who use North American cards, for example, may have mixed success when they try to make incidental purchases or go shopping. The same is true for using a credit card at places like unattended gas stations and bus stops. Many Canadians and Americans see their credit cards rejected because they do not contain smart chips.

One way to go round this is to use a prepaid credit card, explains Canadian travel writer Andrew Satkowiak. Those who travel abroad can load a small amount of money on a prepaid credit card and replenish it when necessary. Jason Steele, credit card expert and traveler recommends another credit card travel strategy. He carries multiple cards and keeps them in different locations. For example, his wife carries one card, he carries another, and they keep an additional credit card secured at the hotel (Canada.com).

Another way to deal with this is to use a prepaid credit card, which may be available in pounds and Euros. It will not cost you anything to use a debit card, but there is another problem. When loading the card with cash, you will not get the best exchange rates.

Travelers to Europe will not have a problem using their North American credit cards at stores, hotels, and restaurants. Credit card processing machines in such establishments can process both smart chip cards and magnetic-strip cards. It may take a few extra steps. Just ask the clerk or manager to follow the instructions that show on the machine. This will make your card work.

What if all cards are rejected, though? Insist that the manager or cashier keep trying to swipe your credit cards as it sometimes happens that the card reader recognizes the magnetic strip and approves the transaction. In some cases, they will agree and redo it. Even if all of your cards have been rejected, your American Express card may work and be accepted at various locations (The New York Times).

If you use an ATM at gas station pumps, parking meters, and railroad ticket machines at some train stations in Spain and France, your card may be rejected. What you should do in this case is find the station attendant or go to the ticket window. Your transaction will be processed this way. However, if the ticket window, gas station, or bank is closed, you may be in trouble (Consumer Traveler).

What can you do in this case? Plan ahead. You can make basic purchases and buy tickets online. For instance, Rail Europe offers European train tickets online, and you can purchase them in advance. The French bicycle rental system Vélib, which rejects credit cards with magnetic strips, also accepts online payments.

When you finally go back home, inform your credit card issuer of any problems you had abroad. This is one way to push them to introduce chip-based credit cards if they haven’t done it already (The New York Times).