Category: Personal Finance

Fintech Firms Give Canadians Access to Their Credit Score for Free

Posted July 7, 2016 by cccadmin in

Credit Score on Phone

Fintech (short for financial technology) is reshaping the financial industry. Mobile payments arriving at Canada’s big banks is only the beginning. If you wanted to know your credit score, previously you had to pay Canadian credit bureaus Transunion or Equifax up to $24 – not anymore. Thanks to Fintech firms like Borrowell and Mogo, you can access your credit score online for free.

Continue Reading »

Prepaid Cards Offer Convenience at a Cost

Posted June 14, 2016 by cccadmin in

Debit Cards in Pocket

Prepaid debit cards can be a convenient gift, but that convenience comes at a cost. CBC News recently wrote a story about a Halifax woman who was upset to discover the fees that come along with them. MasterCard and Visa market these cards as a smart alternative to cash. They work just like regular credit cards and are accepted at millions of retailers worldwide, but as you’ll soon find out, they act more like debit cards.

Continue Reading »

How Credit Card Deception Hurts Everyone

Posted May 31, 2016 by cccadmin in

Deception

Have you been dishonest with your partner about your finances? You’re not alone. Two in five with combined finances admit to lying to their partner or hiding information about money matters, find a study by Harris Poll for the National Endowment for Financial Education (NEFE). In fact, dishonesty among couples is rising – it’s up from 42 percent in 2015 and 33 percent a couple year ago. The most common financial deceptions were hiding a purchase, bank account, statement, bill or cash from your partner (39 percent), followed by lying about the amount of debt (16 percent).

Continue Reading »

Millennials Choosing Good Credit Over Good Looks: Poll

Posted March 9, 2016 by cccadmin in

Arguing Over Credit Card

With the international holiday of love, Valentine’s Day, a couple weeks ago, we thought it would be the perfect time to look at this tongue-in-cheek poll. You probably already know your credit score can affect your finances, but did you know it can also impact your love life? According to a new poll, good credit is more important than good looks for millennials looking for a soulmate.

67 percent of millennials surveyed said they’d choose a partner with a good credit score over good looks, finds a poll by digital financial company MOGO.

Continue Reading »

Canadians Increasingly Choosing Credit and Debt over Cash

Posted January 21, 2016 by CCC Staff in ,

Using Credit Card at POS

Cash is no longer king in Canada. Canada is moving towards an increasingly cashless society. Global news recently wrote an article about how more Canadians favour their debit and credit cards over cash. What’s not to love about credit and debit cards? They offer many benefits: they’ve convenient, come with consumer protection and with reward points, to name a few. But that convenience can come at a cost.

Continue Reading »