Pay Attention to Your Credit Card Balance, Not Your Reward Point Balance

By CCC Admin on Aug 26, 2015 | Filed in Credit Card Tips

Woman using credit card to shop

Are you obsessed with credit card reward points? You’re not alone. The Financial Post wrote an interesting article on an alarming trend of consumers racking up credit card debt, just to earn reward points.

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Report: Canadians are in Debt, but Mostly the “Good” Type

By CCC Admin on Aug 22, 2015 | Filed in Economy, Personal Finance

Spending Too Much

Canadians are up to their ears in debt, but at least It’s mostly the “good” type. The average Canadian was $93,000 in debt in June 2015, up from $76,140 last year, according to a Bank of Montreal report. The report looked at overall household debt in the country. The top two types of debt for most Canadians is credit card debt and mortgage debt.

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Millennials are warming up to credit cards, but on their own terms

By CCC Staff on Aug 14, 2015 | Filed in Personal Finance

Mobile Banking Photo

Young adults are increasingly wary of big banks. In fact, they pretty much hate them. According to a U.S. study, millennials said large banks made up four of their top 10 most hated brands. That’s powerful, and damning to an industry entrenched in old ways. For large banks, the challenges are many and they will no doubt face competition from savvy financial-tech start-ups like Borrowell and Koho.

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3 Ways Credit Cards Can Help With Your Wedding

By CCC Admin on Aug 5, 2015 | Filed in Personal Finance
Paying Florist with Credit Card

Wedding decorations and floral arrangements can cost more than $1300!

Getting married is a joyous occasion – it’s also a costly one. The facts don’t’ lie – the amount couples spend on weddings keeps going up each year. The average cost of a wedding comes in at $22,429, according to a WeddingBells.ca survey. If you’re planning to take a honeymoon, it will cost you even more – on your wedding and honeymoon together be prepared to spend an average of $27,899. By using your credit card responsibly (only charging what you can afford to pay off in full), it can lend a helping hand on your wedding day.

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When You Move, Don’t Let Bills Haunt Your Credit

By CCC Staff on Jul 30, 2015 | Filed in Personal Finance
Moving Boxes

Photo credit: Matt Cornock via flickr CC BY-NC 2.0

With the real estate market booming, housing is becoming increasingly expensive. There seems to be no end in sight for home price increases. The average detached home costs over $1.1 million in Toronto and Vancouver. With home prices heading towards the stratosphere, first-time homebuyers face the risk of being priced out of the real estate market.

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The Bank of Canada Slashes Interest Rates to 0.5 Per Cent

By CCC Admin on Jul 21, 2015 | Filed in Economy, News
Bank of Canada Building

Bank of Canada Building by dneuman

Those with debt tied to the prime rate have reason to celebrate. The Bank of Canada has decided to once again to slash interest rates. After leaving interest rates frozen for nearly five years, the longest stretch in Canadian history, our central bank has already cut interest rates twice in 2015.

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