Category Archives: Personal Finance

Keeping Your Personal Information Safe Online

By CCC Staff | Filed in Personal Finance

Phishing for Logins

While the Internet has made daily tasks like banking and reading the news easier and more convenient, cybersecurity remains a major concern. IT specialists and computer hackers seem to be caught in an endless game of cat and mouse. Despite advancements in security online, there are still major security breaches that grab headlines every day.

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Should You Use Your Credit Card for Small Purchases?

By CCC Staff | Filed in Credit Card Tips, Personal Finance

Accepted Cards

“Do you Smallenfreuden?” It’s already been a year since this phrase was introduced to our vocabulary during last year’s NHL playoffs. Visa ran a viral marketing campaign with the hashtag #smallenfreuden – it wasn’t until a few months later, when we discovered its true meaning. “Smallenfreuden” is a made up English/German word that roughly translates to “the joy of small.” The advertisements encouraged consumers to use their credit card for small purchases.

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Introducing the Credit Card Education Centre

By CCC Staff | Filed in Credit Card Tips, News, Personal Finance

Education Centre Banner

Have you visited the Credit Card Education Centre lately? Well you should – the halls of knowledge have recently been revamped with the information you need to boost your financial knowledge to get the most out of your credit card (while avoiding the not-so-nice pitfalls).

With great power comes great responsibility – a credit card can be a powerful financial tool, when used responsibly. Our goal is to empower cardholders everywhere with the information they need to use credit responsibly, without the burdens of excessive debt. We achieve this through our Education Centre.

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Avoiding the Dangers of a Cashless Society

By CCC Staff | Filed in Personal Finance

Contactless Payment

Card cards offer a convenient way to make purchases and earn rewards points – as long as they’re used responsibly. That means paying off your credit card balance in full each month.

Credit cards have been steadily growing in popularity for years in Canada. When it comes to paying for goods and services with plastic, we rank among the highest in the world. In 2012, cashless transactions totaled just over 9.9 billion – with credit cards making up 32% of those transactions and debit cards at 44%. (Source: CPSS – Red Book Dec 2013) This is compared to an average of 40 per cent for all card use worldwide in 2009.

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The New Rules on Prepaid Cards: What You Need to Know

By CCC Staff | Filed in News, Personal Finance

Portable POS

Prepaid cards have exploded in popularity in recent years as a substitute for cash. In 2011, the market was worth $850 million; in 2012, the market grew to an astonishing $3.3 billion. These convenient cards have taken off as an alternative to traditional credit cards – they’re perfect as a gift for travelling abroad or for your son or daughter going away to university. Unlike traditional credit cards, there’s no credit check required, and there aren’t any interest charges; they come pre-loaded with funds to make purchases and withdraw cash from ATMs.

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Credit Card Delinquencies on the Rise: Tough Consequences

By CCC Staff | Filed in Economy, Personal Finance

Couple with Financial Problems

Bankers in the Great White North are less optimistic than our banking neighbours south of the border when it comes to credit card debt. A recent survey by analytics software firm FICO found that Canadian bankers are more concerned about credit card delinquencies than American bankers. With the household debt-to-income ratio at 162 per cent for the fourth quarter of 2014 in Canada, it should come as no surprise credit card debt is a major concern.

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