The Good & Bad of Credit Card Cash Advances

From time to time, we get those nice letters, accompanied by blank cheques, from our credit card companies. The letters inform us that we can write ourselves sometimes up to 100-percent of our credit limit for a limited period for an interest rate of as low as 0.99%. Good or bad? The Good: Perhaps the cheapest credit you can get. Canadian banks’ prime rate is not below 3%. The Bad: … [Read more...]

Pros and Cons of Store Credit Cards

Recently I read an interesting article on the National Post on Store Credit Cards. Titled Store Credit Cards Rarely A Good Idea, the article outlined some of the disadvantages and advantages of credit cards issued by various stories. Some Disadvantages: High interest rates. Up to 29.9%. Limited Choices Some Advantages: The method of interest charging when you do not pay the whole … [Read more...]

Three Points We Need to Know About Credit Rating

Maintaining a good credit rating is vital for anyone. While we all know the importance of prompt payment of bills, and trying best to pay in full, there are three points we often forget and can affect our credit score and rating. Generally, too many people asking about your credit rating in a short period of time is not helpful. The exception is when you yourself request a report. So, it is … [Read more...]

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