The Canadian Credit Card Conundrum

November 8, 2011

Canadians are known the world over as kind, gentle folk, who are fond of the outdoors and hockey, and always willing to help a friend in need. And in most cases, this is true. But just because you are a Canadian, it doesn’t mean that your bank manager isn’t out to skim some dollars off [...]

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Quickest Way to Become a Victim of Credit Card Fraud

October 30, 2011

There are a few things you will not share even with your family, like your underwear and your credit card. This sounds commonsense, but it actually isn’t for some people. Surprisingly, 15 percent of cardholders will lend their credit card to another person, and 14 percent of Canadians will disclose their PIN to others. Is [...]

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Are Parents Responsible for a Child’s Card Debt

October 23, 2011

Many parents find it difficult to deal with the fact that their kids have accumulated thousands of dollars in credit card debt. Should they help out or leave their children face the consequences? It depends. Young people may use their credit cards to survive a layoff, meet school-related expenses, or splurge for awhile. In any [...]

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The Worst Purchases to Charge to a Credit Card

October 19, 2011

Some purchases should not be charged to a credit card because for credit card issuers they signal you are a client with questionable finances. While swiping a credit card may be convenience for many, credit card companies keep a close eye on all types of charges hitting card accounts. And in fact, using cash takes [...]

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Can You Pay Your Mortgage with a Credit Card

October 10, 2011

You can charge just about anything on your credit card, but does this make sense when it comes to mortgage payments? It depends on how you go about it. If you lived in the US, you could switch your mortgage to a company, which offers payment services for mortgage payments (e.g. American Express). This is [...]

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Dealing with Debt When Rates Are to Stay on Hold

October 2, 2011

Governor of Bank of Canada Mark Carney recently indicated that interest rates would stay on hold due to the global economic uncertainty. This makes many think of the best strategies of investing, borrowing, and repaying, especially now that Canadians have borrowed too much already. For now, Canadians can sigh with relief, and debts are easy [...]

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Premium Cards with Hidden Costs for Business Owners

September 27, 2011

Premium credit cards are often offered with high annual fees and interest rates to cardholders, but this is not the whole story. Business owners that accept premium cards often face a fortune in transaction fees. Until recently, most shop owners were not aware how much it would cost them to accept different credit cards. For [...]

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Credit Card Debt Delays Stress-Free Retirement Years

September 18, 2011

Many regard retirement as a well-earned and deserved conclusion to the years of hard work, but a growing number of retirees find themselves in debt. According to Statistics Canada, one in three retirees has some type of debt, including payday, student, and other loans, mortgages, lines of credit and credit cards, and other liabilities and [...]

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Saving Money Abroad by Using Your Credit Card

September 11, 2011

Taking a credit card with you abroad is a good way to spend money, especially if you dislike the idea of carrying wads of cash with you. However, is charging items to your card saving you money abroad? When you use your credit card to pay hotel or restaurant fees, your credit card issuer, be [...]

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How to Protect Your Credit during Divorce

September 5, 2011

Anyone can be stressed out in the midst of a looming divorce, with partners who cherished their memories before, doing hurtful and terrible things to one another. Children are often involved and parents and relatives take sides to make things worse. In this situation, your credit rating may be the last thing on your mind, [...]

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