credit card

We have all heard the credit commercial with the tag line “what’s in your wallet?”  A better question is: how many credit cards are in your wallet (or purse)?  If you are carrying a balance on more than one credit cards each month, you have too many credit cards.  That’s the answer to the question [...]

You can’t build a house without a set of blueprints; you can’t go on a long trip without a map, and you can’t eliminate credit card debt without a plan.
Your plan starts with setting financial goals.  Why do you want to eliminate credit card debt?  How quickly do you want to do it?  Next comes [...]

This may seem obvious, but always pay your credit card balance on time; don’t pay late.  If your payment is due on the 15th of the month, be sure it’s paid on the 14th or the 15th.  If you make your payment on the 16th, you get hit with many extra charges, including:

extra interest
a late [...]

Credit card companies make a lot of money.  How?  Obviously they charge a high rate of interest, but they also charge various fees that may not be obvious.  Did you know that most credit cards will charge an extra fee if you exceed your credit limit?  It’s true.
Most people assume that they won’t be able [...]

We have all seen them: a “special introductory offer” where you pay a low interest rate if you sign up for a new credit card, and transfer a balance from another credit card.   Today’s tip: Beware of low introductory rates.
If you are paying a high rate, it may appear to make sense to switch to [...]

With the new credit card regulations in Canada, it’s more important than ever to read the fine print on your credit card agreement.  If you don’t have a copy, go on the web or ask for one from your credit card issuer.
There are three key terms you should now:

Payment terms.   When are payments due?  What [...]

We are starting a new series on credit cards, and how to eliminate credit card debt.  Canada just introduced new credit card regulations, so today’s tip: know the new rules.
Credit card companies are required to give you a 21 day grace period on new purchases, provided you pay your balance in full each month.  Be [...]