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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Times You Should Absolutely Avoid Using Your Card

August 30, 2011

Some people will tell you that there is never a good time to shop on a credit card, and using debit and cash is a far better choice. While it is hardly possible to live without plastic money, sometimes you should just leave your card at home. If you habitually pay one credit card with […]

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Do You Know How Much the Minimum Balance Will Cost You

August 21, 2011

The minimum balance is the smallest payment you can make on credit card debt without being penalized. It is a percentage of your total balance. The minimum payment becomes lower and lower as you pay off your debt, but most lenders’ packages entail compounding interest, meaning interest upon interest. This means you will be paying […]

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Effective Strategies for Dealing with Billing Errors

August 14, 2011

It can be very frustrating to receive a bill for goods you returned or never received or to be charged twice for the same item. Rest assured, though, that these mistakes can be fixed. All it takes is a degree of familiarity with the dispute settlement procedures under Canadian law. The law in question applies […]

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Freezing a Credit Report to Prevent Identity Theft

August 7, 2011

It is now possible to freeze one’s credit history as a means of protecting yourself from identity theft. The exact procedure goes like this. You file an application to have your credit frozen at the credit bureau that services you. This way, you can keep potential identity thieves from applying for credit on your behalf […]

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Is the Credit Card Snowball Good for You

August 1, 2011

Do you have a couple of credit cards, a mortgage, car payments, two student loans, and debts to a couple of friends? If you cannot keep up with all payments and think of the best strategy to reduce your debts, you can consider the credit card snowball method. The credit card snowball method is used […]

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