Category Archives: Credit Card Debt

With over half of all Canadians carrying an outstanding balance on their credit card, it’s not surprising that debt consolidation is something many turn too as a strategy to lower interest charges and pay off credit card debt sooner. However consolidation loans don’t always save you money in the long run or solve… Read more

Sadly, bankruptcy among seniors is on the rise. This is one more worry to be added to a long list for family members who are concerned about their aging parents. Not used to credit cards in their youth, many seniors are racking up credit card debt at an alarming rate; finding… Read more

Moneyproblems.ca is about finding experts who can help you manage your way out of debt problems with great information and advice. Today we bring you a guest article from the experts at Ratehub.ca. Ever looked up your credit score? That three-digit number means a lot when it comes to renting property, buying a… Read more

Why is it that reasonably intelligent people become idiots when it comes to using plastic for purchases? How can spending money you haven’t yet earned – putting money on a credit card and carrying a balance – ever be a good idea? And yet, thousands of Canadians do it every… Read more

Running up balances on your credit card over the holidays is something most Canadians face. However if you can’t pay those balances off in full after the season is over, you will find the cost of your Christmas purchases can almost triple. Our infographic outlines the true cost of using… Read more

For whatever reason your credit card bills have accumulated a little beyond your ability to pay off in one single payment yet you know with some effort you can get them back down where they belong – zero. The thing is, your a little overwhelmed at where to start. Sometimes… Read more

Consolidating your high interest credit card debt into a lower interest rate debt consolidation loan seems like a prudent strategy in most cases.  After all by saving on interest charges you can pay off your debts faster. For example, if you currently owe $20,000 on credit cards that have an annual… Read more

It’s easy to pay for purchases using your credit card but it’s not always easy to keep your use of credit under control. In fact money owed to credit cards at the time people file debt relief accounts for approximately 31% of their debt. Their average outstanding balance on credit… Read more

Credit card companies are in business to make money. When they issue you a credit card they make money by charging the merchant a transaction fee every time you use your card, and they earn money if you carry a balance or incur late payment or other credit card fees…. Read more

Most people know that if they carry a balance on their credit cards beyond the due date they will have to pay interest. Understanding how interest is calculated on your credit card debt however can help you use credit more wisely and give you some tips on how to reduce… Read more