Category: Credit Card Tips

Credit cards have become ubiquitous in our society. Credit cards outnumbers Canadians by over a two-to-one ratio. There are over 72 million MasterCard and Visa cards in circulation in Canada, according to the Canadian Bankers Association.

While credit cards are great for buying things like groceries and gas, they aren’t necessarily ideal for all purchases. Last week we covered 4 Things to Charge on Your Credit Card. This week we wanted to go along a similar theme and look at 4 things you shouldn’t charge on your credit card. Here are some situations when using your credit card may not make sense.

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As our motto goes, credit cards are a powerful financial tool when used properly. Credit cards are great for earning reward points and managing your short-term cash flow. To make the most of your credit card, avoid carrying a balance at all costs. Here are some situations when using your credit card makes the most sense.

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Have you ever wondered how credit card payment posting works? Most people don’t bother to ask about how long it takes until they need it. Let’s say you make a lot of costly purchases on your credit card for home repairs this month. Your credit card balance is near your credit limit, but you still need to make more purchases. If you have the available cash on hand, you can pay your outstanding balance and free up some credit. The length of time it takes to post to your account depends on the payment method you use.

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As the saying goes, parting is such sweet sorrow. Sometimes the writing is on the wall for a credit card that was once your favourite. Credit cards can get closed for many reasons – new fees, better alternatives, and cut reward programs, to name a few. Before you close your credit card, it’s important to know that timing is everything. Let’s take a look at different types of credit cards and when it can be good time to close them.

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Can you believe the holidays are here?! It seems like 2015 went by in the blink of an eye. While the holidays are a time of rest and relaxation, they shouldn’t be a time of overspending. It can be easy to get caught up in the holiday cheer and let your spending get out of control. Borrowing from our education centre post on managing credit responsibly, here are some tips to avoid an unpleasant surprise when your credit card statement arrives in January.

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