As of January 1st, Colorado became the first US state to decriminalize the recreational use of marijuana. Pot tokers have flocked to marijuana retailers, shelling out upwards of $70 for an eighth ounce. Many consumers are using plastic to complete their transactions, which according to the WSJ, is causing some confusion for card processors VISA and MasterCard.
Whether you already have a credit card or are considering applying for one, you might be curious how to use it to your advantage. After all, plenty of people successfully use credit cards on a regular basis, somehow evading the financial pitfalls that so many are warned about. How do they do it? Well, it’s not as complicated as you might think! As long as you avoid making these five mistakes, you should find it easy to use your credit card responsibly.
As you may know, November is Financial Literary Month. Now that the month is winding down, you’ve had lots of opportunities to learn about how to manage your finances better and get and stay out of debt. While learning about fiscal responsibility you may have found yourself thinking the only way to maintain financial health is to cut up all credit cards. Surprisingly, nothing could be farther from the truth. In fact, if you use credit responsibly, you can improve your financial circumstances.
Unfortunately, credit card theft is a constant & prevalent occurrence in today’s world. Last year American Express Canada, MasterCard Canada & Visa Canada reported a loss of $18,322,777 CAD from just stolen credit cards alone – affecting 34,408 cardmembers. The same report shows an average loss per account of $532.52.
While most stolen card purchases seem to be electronic items, such as Apple products, or used for online shopping, some criminals go out of their way to be different.
What was the strangest fraudulent purchase you personally experienced? Let us know in the comments below…
American Express Canada, Aeroplan and AirCanada announced a new multi-year partnership that will extend the already long relationship between the three companies.
The announcement confirms Amex Canada will continue offering AeroplanPlus cards for both consumers and corporations, while Aeroplan will continue to participate in the Amex Membership Rewards Program allowing cardmembers to transfer AMEX points to Aeroplan on a 1:1 basis.
It’s time to say goodbye to your credit card. You’ve had enough of the blackout dates & poor customer service and your shiny new rewards card just arrived. Or, maybe you’ve finally taken advantage of a balance transfer to get a lower interest rate and now need to cancel your old account. Cancelling a credit card account is a fairly simple process, but there are definitely some important things to do before sending that old card through the shredder.
