The popularity of no fee accounts is growing. ING launched its no fee chequing account early this year. Ally did a big advertising push with TV ads featuring savings accounts that offer some of the best interest rates and PC Financial continues to push ahead featuring no-fee banking to Canadians.
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With the holiday season in full swing, and more and more consumers pulling out plastic to fund their celebrations, RateSupermarket.ca has created their five top credit card tips to help Canadians save money before, during and after the holidays.
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If you don’t have a home or other large asset to back a secure line of credit, and your credit rating has too many red flags (from all those bills you’ve been late in paying), you might not qualify for a line of credit. If that’s the situation you’re in, then forget about cash back or air miles programs. You should focus on getting yourself a credit card that will charge you the lowest amount of interest if and when you do need to carry a balance. Here are some of the best low rate credit cards in the market.
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According to surveys, the average Canadian owes $1.47 for every $1 of their disposable income. Yikes! The main culprits? Buying homes beyond our budgets and spending too much on a daily basis. That overspending tends to happen on our credit cards. The high interest rates on these cards often turns small debt into a never-ending headache. Yesterday you read Melanie’s blog about avoiding credit card debt, but what should you do if you’re already in over our head? Here are some suggestions:
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As Christmas nears, most of us are shopping for the perfect gift for friends and family. The perfect gift, however, sometimes costs more than we can afford. At Christmas time, it’s perfectly acceptable to get extravagant and spend more than we make. Many of us justify the debt we rack up on our credit cards by saying we’ll pay it off later. Besides, we really only have to pay the minimum payment, right? And that’s a payment most of us can handle. But what most people don’t think about is just how much that gift is really costing them in the long run.
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