Canadians Taking Advantage of Low Interest Rates to Pay Down Debt

By CCC Admin on Nov 25, 2015 | Filed in Debt, News, Statistics

Pay Off Credit Cards

Canadians are doing a better job of paying down debt, finds a new report from TransUnion. This shouldn’t come as any surprise. The low interested rate environment is making it easier for Canadians to repay debt on time. The delinquency rates (accounts 90 days or more overdue) have never been lower, sitting at 2.60 percent in the third quarter, down from 2.75 percent last year and a 5.5 percent improvement from the 2.75 delinquency rate in the third quarter of 2014. Delinquency rates have been between 2.58 and 2.66 percent over the last three quarters.

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The ICBC Bans Payment by Credit Card on Monthly Insurance Premiums

By CCC Admin on Nov 18, 2015 | Filed in News, Personal Finance

ICBC Richmond-Lansdowne Centre

Motorists in B.C. have one less payment option when it comes to paying their basic auto insurance premiums. The Insurance Corporation of British Columbia (ICBC) has banned the use of credit card payments for monthly premiums. The ICBC is the provincial crown corporation responsible for issuing drivers licenses, registration and providing universal auto insurance in B.C.

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Canadians Pile on More Debt to Keep Pace with Home Prices

By CCC Admin on Nov 16, 2015 | Filed in Debt, Economy

Buying First Home

With home prices heading into the stratosphere, Canadians keep piling on debt at a record pace. Household debt increased by 5 percent in the last year to a whopping $1.88 trilling, says RBC in its latest credit report. Most of that was from mortgage debt, which increased by 5.9 percent to $74.7 billion in the last 12 months.

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Purchase a New Home Online With Your Credit Card

By CCC Admin on Nov 8, 2015 | Filed in News, Personal Finance

Man buying online with credit card

The antiquated real estate industry looks to be moving into the 21st century. Despite technological advances, the real estate industry has seen little change over the last few years – until now. With the simple click of a mouse and your credit card, you’ll soon be able to buy new construction homes from the comfort of your couch.

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Should you Consider an Annual Fee Credit Card?

By CCC Admin on Nov 2, 2015 | Filed in Credit Card Tips

Annual Fee Credit Cards

Most consumers scoff at the thought of paying an annual fee. On the surface that makes a lot of sense; limiting recurring monthly and annual costs is a great way to keep your budget in check. But when it comes to credit cards, it might make a lot more sense to opt for a credit card that carries an annual fee.

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Two-Thirds of Canadians Admit to Bad Financial Habits

By CCC Admin on Oct 21, 2015 | Filed in Personal Finance, Statistics

Financial Troubles

Do you have bad financial habits? You’re not alone. Two-thirds (66 percent) of Canadians confessed that they have personal financial habits that they plan to work on, finds a new Ipsos poll conducted on behalf of Interac. It’s hard to know if you’re on track to meet your financial goals without a budget. 29 percent of Canadians admitted to never creating a household budget.

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