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.
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.
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.
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.
We’re three week into 2016 – how are your financial goals shaping up for this year? Paying down debt is one of the top financial goals for Canadians. While setting the goal to pay down debt is a good first step, putting an action plan into place and sticking to it is a lot more difficult.
Can you believe it’s the New Year? It seems like 2015 went by in the blink of an eye. With the New Year upon us, we thought it would be the perfect time for New Year’s Resolutions. Next to hitting the gym more often and spending quality time with family and friends, getting out of debt is a popular resolution.
Setting a goal is only half the battle; reaching it is another story. You may feel motivated to get in shape on January 1st and sign up for a gym membership right away, but by the time February rolls around you’ve already thrown in the towel. It’s important to set achievable goals and make an action plan to accomplish them. Here are three credit card and debt goals to aim for in 2016.
