If you’re headed off the grid, or just want to make your life difficult, then this article is for you. We explore the best ways to hurt – and ultimately destroy – your good credit. Who wants a good credit score anyway? Without further adieu, here are 6 ways to ruin your credit:
Canadians love their loyalty reward points. Whether it’s points at our favourite coffee chain or points at your neighbourhood grocer, Canadians can’t seem to get enough of them. Until recently loyalty reward points were relatively safe. Your biggest concerns were losing them to account inactivity or the reward program devaluing them. But that was then and this is now.
February 1st is the official launch date of the new PC Optimum loyalty reward program. This is the name of the rewards program merger cardholders have been anticipating for years. Loblaw and Shoppers Drug Mart announced back in November 2017 that they were merging the two popular loyalty point reward programs into one.
There have been many predictions about the future made over the years. (If you’re looking for bold predictions, just watch the cult classic movie, Back to the Future: Part II – I’m still waiting for my flying car!)
One of the predictions that may actually come true in our lifetime is the end of credit cards as we know them. For years, the plastic in our wallet has been the standard form of payment, but that’s rapidly changing. It’s not being replaced by cash. No, it’s being replaced by a new system that involves the transfer of money virtually using our smartphones and other smart devices.
TransUnion is dusting off its crystal ball to make its predictions for 2018 and it’s a mixed bag.
With interest rates predicted to rise in the early half of 2018 and a slight cool off in the Canadian economy, credit reporting agency TransUnion is predicting an uptick in credit card default rates. TransUnion projects that the serious delinquency rate for credit cards will rise to 3.63 per cent in the fourth quarter of 2018, up from 3.02 per cent in the same quarter in the previous year.
How would you like to use your credit card reward points to travel around the world? That’s just what Avery Campbell, a 24-year old law student from Montreal, did. He used something called “manufactured spending” to fund his travels worldwide. His story is the talk of the town these days. Let’s take a closer look at how he pulled off the impressive feat and whether it’s a good idea to follow in his footsteps.
