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 sure you do pay your balance in full, or else you will get hit with high interest rates. In fact, it’s possible that with the new rules interest rates will be increasing, so in this new series we will offer tips to get your credit card balances under control.