Credit Cards

Published by Mohamed Konate | Updated Mar 01, 2024

How To Cancel Pre-Authorized Payments On Credit Cards

Reading Time: 4 Min Pre-authorized payments, also known as recurring charges, are automatic payments deducted from your credit card at regular intervals. These payments are commonly used for subscription services, gym memberships, utility bills, and other recurring expenses. While pre-authorized payments can be convenient, they can also become a burden if you no longer need the service or want… Continue reading

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Published by Mohamed Konate | Updated Mar 01, 2024

Can You Go Over Your Credit Card Limit?

Reading Time: 4 Min Have you ever wondered if you can go over your credit card limit? It depends. Sometimes you can go slightly over your limit. Other times, your card will decline if you attempt to make a purchase that will put you over your credit limit. Whether you’re facing an unexpected expense or want to make a… Continue reading

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Published by Mohamed Konate | Updated Mar 01, 2024

What Is The Difference Between A Secured Credit Card And A Prepaid Card?

Reading Time: 4 Min Secured credit cards and prepaid cards are variations of a standard credit card, each with its benefits and limitations. This article explores the main features of each type of card and compares them in terms of functions, limitations, and differences. If you’re not sure which card works best for you, read on to see our… Continue reading

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Published by Mohamed Konate | Updated Mar 01, 2024

How Long Do Refunds Take On Credit Cards

Reading Time: 3 Min Have you ever purchased something on your credit card only for the item to break immediately? Perhaps you realized you couldn’t afford to pay your credit card balance and had to request a refund for a purchase. If you’ve requested a credit card refund and find yourself wondering how long it will take, don’t worry.… Continue reading

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Published by Mohamed Konate | Updated Feb 26, 2024

How Long Should I Use A Secured Credit Card Before Applying For An Unsecured Credit Card?

Reading Time: 3 Min If you want to upgrade your secured credit card to an unsecured card, you might wonder how long you need to use your secured credit card before this is allowed. The good news is there are no minimum or maximum limits for how long you can use a secured credit card. Instead, when you upgrade… Continue reading

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Published by Mohamed Konate | Updated Feb 26, 2024

Can You Use A Canadian Credit Card In The USA?

Reading Time: 6 Min It is possible to use a Canadian credit card in the US, but there are some key differences and limitations when it comes to using your Canadian credit card outside of Canada. Factors such as currency conversion rates and foreign transaction fees can all limit your credit card usage in the US. In this article,… Continue reading

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Published by Mohamed Konate | Updated Feb 26, 2024

How Can A Secured Credit Card Help Improve Credit Scores?

Reading Time: 4 Min Secured credit cards are often used to build good credit from scratch. If you have a non-existent credit history or a low credit score, these tools can be life-changing. But how exactly do they work, and how do you get one? In this article, we explore the ins and outs of secured credit cards and… Continue reading

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Published by Mohamed Konate | Updated Feb 26, 2024

What Is The Utilization Rate On A Credit Card?

Reading Time: 5 Min Your credit utilization rate is the percentage of available credit on your credit card that you are currently using. For example, if your credit limit is $10,000 and your current credit card balance is $2,000, then your credit utilization is 20%. The equation to calculate credit utilization is therefore: (Current credit balance/credit limit) * 100… Continue reading

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Published by Mohamed Konate | Updated Feb 26, 2024

How Does A Secured Credit Card Differ From An Unsecured Credit Card?

Reading Time: 5 Min Secured credit cards differ from unsecured credit cards because they require a cash deposit to act as collateral. This cash deposit represents your credit limit, meaning you can only spend up to the amount you deposited. On the other hand, traditional credit cards are unsecured. These allow you to use your credit without needing to… Continue reading

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Published by Mohamed Konate | Updated Feb 26, 2024

How To Pay Down Credit Card Debt: A Step-By-Step Guide

Reading Time: 6 Min Credit card debt occurs when you purchase an item or service using a credit card and fail to pay off the balance by the due date. This balance accumulates interest, which can spiral out of control, leaving you with a massive sum to pay off. Roughly 40% of Canadians have some form of credit card… Continue reading

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Published by Mohamed Konate | Updated Jan 17, 2024

How To Add A Credit Card As A Payee

Reading Time: 5 Min Payee: A person or account to whom money is paid. Adding a credit card as a payee makes paying your credit card debts easier and eliminates the need for manual transactions. By adding your credit card as a regular recipient in your bank account, you can streamline your monthly payments and ensure full control over… Continue reading

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Published by Mohamed Konate | Updated Jan 12, 2024

How To Lower Your Credit Card Interest Rate

Reading Time: 4 Min Are you burdened by high interest rates on your credit card? Do you find yourself struggling to make a dent in your debt due to the hefty interest charges? If this sounds like you, don’t worry. There are steps you can take to lower your credit card’s interest rate to help you get back on… Continue reading

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Published by Mohamed Konate | Updated Jan 15, 2024

How To Transfer Credit Card Balance Effectively

Reading Time: 5 Min Credit card debt can quickly become overwhelming, especially when high interest rates start piling up. If you currently struggle with credit card debt and want a short-term solution, this step-by-step guide will walk you through how to transfer your credit card balance. To learn more about balance transfers and which factors to consider before going… Continue reading

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Published by Mohamed Konate | Updated Jan 08, 2024

What is the Minimum Payment on Credit Card

Reading Time: 5 Min Arе you wondеring what thе minimum paymеnton your crеdit card is? You’rе not alonе. Many pеoplе find thеmsеlvеs confusеdabout this important aspеct of crеdit card managеmеnt. In this articlе, wе willеxplorе еvеrything you nееd to know about thе minimum paymеnt on crеdit cards. Undеrstanding Minimum Paymеnts Thе minimum paymеnt is thе smallеst amount you arе… Continue reading

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Published by Mohamed Konate | Updated Jan 08, 2024

How to Activate a Credit Card

Reading Time: 7 Min Arе you rеady to start using your nеw crеdit card but not surе how to activatе it? Look no furthеr. In this articlе, wе will walk you through thе simplе stеps to activatе your crеdit card so you can start making purchasеs in no timе. Why Activatе Your Crеdit Card? Activating a crеdit card is… Continue reading

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Published by Mohamed Konate | Updated Jan 04, 2024

How To Pay Your Credit Cards With Different Canadian Banks

Reading Time: 4 Min Do you have multiple credit cards from different Canadian banks and issuers? If so, paying your monthly bills may be a time-intensive and complicated process. Luckily, there are several solutions. This article explores the options you have when it comes to paying for multiple credit cards from different banks in Canada. Paying your credit card… Continue reading

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Published by Mohamed Konate | Updated Jan 04, 2024

Age Restrictions for Getting a Credit Card in Canada

Reading Time: 6 Min Gеtting your first crеdit card is an еxciting milеstonе, but it’s important to undеrstand thе agе rеstrictions that apply in Canada. Thе lеgal agе to apply for a crеdit card variеs by provincе, with most provincеs and tеrritoriеs sеtting thе minimum agе at 18. However, there are a few outliers to take into account with… Continue reading

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Published by Mohamed Konate | Updated Jan 15, 2024

A Complete Guide To Getting A Business Credit Card In Canada

Reading Time: 5 Min Business credit cards are specialized cards designed with businesses in mind. But what benefits do they offer, and how can you use a business credit card to grow your business and gain rewards? This article outlines the features and benefits of business credit cards in Canada, goes over how to get one, and offers tips… Continue reading

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Published by Mohamed Konate | Updated Jan 03, 2024

What Is The Grace Period On A Credit Card?

Reading Time: 4 Min A credit card grace period is the time between the end of your billing cycle and the due date for your payment when you do not pay interest on purchases. This article covers everything you need to know about credit card grace periods in Canada, including definitions, common misconceptions, and how to utilize the grace… Continue reading

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Published by Mohamed Konate | Updated Jan 15, 2024

Why Is My Credit Card Being Declined?

Reading Time: 3 Min Is your credit card being declined more often than not? It can be frustrating when you try to use your card to buy something or to pay a bill, only for it to decline out of nowhere. Whether it’s due to insufficient funds, expired cards, or suspicious activity – we outline how to identify and… Continue reading

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Published by Mohamed Konate | Updated Jan 03, 2024

What is the Security Code of a Credit Card?

Reading Time: 6 Min Thе sеcurity codе of a crеdit card is an еssеntial еlеmеnt in protеcting your financial transactions. In this fast-pacеd digital agе, undеrstanding how it works and why it’s important is crucial. Whеthеr you’rе shopping onlinе or making in-storе purchasеs, thе sеcurity codе sеrvеs as an addеd layеr of protеction against fraudulеnt activitiеs. Undеrstanding thе Purposе… Continue reading

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Published by Mohamed Konate | Updated Jan 04, 2024

Do Rewards Credit Cards Work?

Reading Time: 7 Min Would you like to get more value out of your credit card? Try rewards credit cards, perhaps? Smart spenders prefer these cards because they contain perks and bonus points that clients can redeem. What’s more, how do rewards credit cards operate? Here is how to say it in a nutshell. Types of rewards credit cards… Continue reading

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Published by Mohamed Konate | Updated Jan 03, 2024

How do you rеdееm rеwards еarnеd on a crеdit card?

Reading Time: 6 Min Arе you rеady to rеap thе bеnеfits of your hard-еarnеd crеdit card rеwards? Discovеring how to rеdееm thosе valuablе points can bе just as еxciting as еarning thеm. In this articlе, wе’ll guidе you through thе procеss of rеdееming rеwards on your crеdit card, turning thosе points into awеsomе pеrks and savings. Whеthеr you’vе accruеd… Continue reading

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Published by Mohamed Konate | Updated Jan 02, 2024

What typеs of insurancе arе offеrеd with rеwards crеdit cards?

Reading Time: 6 Min Arе you a savvy crеdit card usеr looking to maximizе your bеnеfits? If so, you may want to considеr gеtting a rеwards crеdit card that offеrs insurancе covеragе. Thеsе typеs of crеdit cards not only allow you to еarn points or cash back on your purchasеs, but thеy also providе addеd protеction through various insurancе… Continue reading

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Published by Mohamed Konate | Updated Jan 02, 2024

How long do rеwards еarnеd on a crеdit card last?

Reading Time: 5 Min As crеdit card rеwards continuе to gain popularity, many consumеrs arе curious about how long thеsе еarnеd rеwards actually last. It’s an important quеstion to considеr, еspеcially if you’rе planning to savе up for a big-tickеt itеm or a much-anticipatеd vacation. So, how long do rеwards еarnеd on a crеdit card last? Lеt’s divе in… Continue reading

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Published by Mohamed Konate | Updated Jan 02, 2024

What is thе minimum crеdit scorе rеquirеd to qualify for a rеwards crеdit card?

Reading Time: 6 Min Arе you wondеring about thе minimum crеdit scorе nееdеd to еnjoy thе pеrks of a rеwards crеdit card? Look no furthеr! In this articlе, wе will dеlvе into thе crеdit scorеs rеquirеd to qualify for a rеwards crеdit card and hеlp you dеtеrminе if you’rе еligiblе. Having a rеwards crеdit card can bе a gamе-changеr… Continue reading

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Published by Mohamed Konate | Updated Jan 02, 2024

What Are The Benefits Of Using A Rewards Credit Card Over A Regular Credit Card?

Reading Time: 4 Min Regular credit cards are commonly used to make purchases, improve credit scores, and manage finances. However, most credit cards available on the market today also offer rewards programs. You might find yourself asking, are these rewards worth it? And do you really get more value from a rewards credit card than a regular credit card?… Continue reading

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Published by Mohamed Konate | Updated Jan 02, 2024

What Are The Penalties For Late Payments On A Rewards Credit Card?

Reading Time: 3 Min What Are Late Payment Penalties On Rewards Credit Cards? Late payments can happen to even the most responsible credit card users. Life can get busy, and it’s easy to forget or overlook a payment deadline. When you forget to pay off your credit card balance by an agreed-upon due date, your bank or financial institution… Continue reading

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Published by Mohamed Konate | Updated Jan 02, 2024

Are there any restrictions on the types of purchases that earn rewards on a credit card?

Reading Time: 4 Min Many credit cards offer rewards to their users. These rewards include cash back, miles or points for cardholders to redeem on travel, gifts, or everyday perks. But are there any restrictions on what you earn reward points for? It depends. This article will review the most common restrictions on earning reward points, and explore how… Continue reading

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Published by Mohamed Konate | Updated Dec 17, 2023

Everything You Need to Know about Canadian Virtual Credit Cards

Reading Time: 10 Min What is a virtual credit card? Why do you need one? Does it make online shopping convenient and safe? So, you have come across virtual credit cards. You want to have one, but you cannot go ahead without clarifying your doubts. We will answer all your queries in the following. A virtual credit card can… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How Will Changing My Credit Card Number Impact My Credit Score?

Reading Time: 2 Min Your credit score, that number which decides whether you can get a loan or mortgage, plays a major role in your financial life. When facing situations that require changing your credit card number, whether due to fraud, loss, or simply getting a new card, it’s natural to wonder about the potential effects on your credit… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Understanding Credit Card Rental Car Insurance

Reading Time: 2 Min The world of finance is complex, and rental car insurance is no exception. Peeling back the layers of credit card rental car insurance, a common yet intriguing feature on many cards, is quite an adventure. Credit card rental car insurance can get complicated, so this section breaks down the key details in a straightforward way… Continue reading

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Published by Mohamed Konate | Updated Jan 12, 2024

How to Read Your Credit Card Statement

Reading Time: 4 Min Ever wondered what all those numbers on your credit card statement mean? No sweat, it’s a common feeling—we’re all in the same boat here. Alright, let’s demystify your credit card statement together, making sure you can track your spending and dodge any unexpected shocks. First, you’ll want to know where to find your credit card… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How to Choose a Business Credit Card?

Reading Time: 2 Min Did you know that small businesses comprise 98.2% of all Canadian companies? With these numbers, getting appropriate funding is key for business and economic expansion. A business credit card is a good option for a start-up looking for additional funding or a small business that has plans for expansion. In addition, getting a credit card… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How to Choose a Student Credit Card?

Reading Time: 2 Min There is a great paradox when it comes to student credit cards: One, you have to be a student to get one. Two, being a student doesn’t automatically qualify you for one. Getting a credit card for students is a real head-scratcher, but this guide can help you navigate through the basics on how… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Balance Transfer Credit Card Guide

Reading Time: 4 Min A balance transfer credit card could be your solution to paying off your existing debt faster. But is it the right type of credit card for you? We lay it down for you – the upside and downside of balance transfer cards – to help you decide. What is a balance transfer credit… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Types of Credit Cards in Canada

Reading Time: 4 Min Types of Credit Card Previously, owning a credit card was easy: one card for one person and for all transactions. Today, you can own two or more credit cards depending on your lifestyle. With a range of fees, interest rates, and reward programs, it’s now more important to know which credit card best suits… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Credit Cards: How to Apply and Tips for Approval

Reading Time: 6 Min Credit cards are a useful financial tool for many Canadians. They can help you build credit, pay an unexpected or emergency expense and facilitate daily spending among many other things. In addition, credit cards are one of the most commonly used financial products. If you’re interested in getting a credit card, below is a… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Prepaid Credit Cards: Everything You Need to Know

Reading Time: 5 Min Prepaid Credit Cards Canada In the world of personal finance, you may have heard of prepaid cards. If you haven’t, you’ve come to the right place to learn all about them! Prepaid cards come in the form of both debit and credit cards. Their primary benefit is that they can be used by individuals… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How Does Credit Card Interest Work in Canada?

Reading Time: 2 Min Credit Card Interest Rates Explained A credit card is a great financial tool that comes with a lot of features and benefits. The interest rate is by far the most important component of a credit card since it has a big impact on your borrowing cost when you carry a balance. Improving your knowledge… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

What Should I Do If I Lost My Visa?

Reading Time: 2 Min You can’t find your Visa anywhere. You were sure it was in your wallet, but it’snot there. You check at your computer desk, in your car and even call the lastplace you used it to see if you left it there. No luck — your Visa is lost. Theworst fear about a lost Visa… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How Many Credit Cards Should You Have?

Reading Time: 4 Min The average number of credit cards a Canadian has is 2.4 per person. This statistic suggests that most Canadians have more than two credit cards, or at least one. It would be easy to tell you the magic number of credit cards which will best serve you, but the truth is, it’s impossible to… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Credit Card Debt Tips

Reading Time: 4 Min Are you planning on getting a credit card? Do you own a credit card already and just want to avoid debt? Every credit card owner is at the risk of debt. Too much debt on a credit card can take years to pay off. If you are a new credit card owner, or if… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How to Increase Your Credit Card Limit

Reading Time: 4 Min A credit limit increase on your credit card can give you extra financial freedom. It can improve your credit score too by decreasing your total credit utilization ratio. On the contrary, it can be intimidating to increase your credit limit if you already struggle managing your finances. When you are considering getting a credit increase,… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Credit Scores: Is Carrying a Balance Good or Bad?

Reading Time: 4 Min There is a common misconception that carrying a balance on credit cards improves your credit score. The truth is credit history improves your credit score. This can be confusing and can read contradictory, which results in credit card users holding some amount of debt. Any time you use a credit card and make payments, you… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

5 Things to Consider When Applying for Your First Credit Card

Reading Time: 4 Min You probably just turned eighteen, want to take advantage of rewards or desire the convenience of completing online purchases. Credit cards can make a lot of day-to-day purchases simpler and optimal. Obtaining your first credit card will help you build and learn the foundations of borrowing and repaying credit. Most important of all, using… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How Do I Report a Lost Visa?

Reading Time: 2 Min When you lose your Visa, you need to report it to the company that issued your card.You just must give your credit card’s customer service line a call. Normallyyou’d find the customer service number on the back of your card, but since it’slost, you’ll want to get the number from an old bill or search… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How Do I Cancel My Visa Credit Card?

Reading Time: 2 Min You have decided you want to cancel a Visa credit card account. The best reasons forthis decision are you overspend and can’t seem to stop, or you have an annualfee on a credit card you are not using. Unless you are in one of these cases,closing credit accounts may damage your credit score more… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

How to Get a US Credit Card in Canada

Reading Time: 3 Min As a Canadian consumer, you may be aware of the remarkable benefits offered by US credit cards. Let’s delve into the details of how to get a US credit card in Canada. Why Should Canadians Consider US Credit Cards? The US credit card market is incredibly lucrative, offering remarkable advantages to cardholders. These perks range… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Why my credit card application was declined

Reading Time: 4 Min It can be incredibly disappointing and frustrating to be denied for a credit card. You might wonder why your credit card application was not approved and what actions you can take to enhance your chances of approval in the future. Let’s look into the reasons behind declined credit card applications. 1- Low Credit Score… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Line of credit vs credit card: What's the difference?

Reading Time: 4 Min Line of credit vs credit card If you’re trying to decide between a line of credit and a credit card, it’s important to understand the difference between the two. A line of credit is essentially a loan that you can draw from as needed, up to your credit limit. A credit card, on the… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Credit Card Basics

Reading Time: 4 Min What is a Credit Card? When a business such as a bank lends you money it is called credit. A credit card essentially allows you to spend the bank’s money and pay them back later, all through the use of a small plastic card. Credit cards are convenient, secure, and help build your credit… Continue reading

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Published by Mohamed Konate | Updated Nov 24, 2023

Credit Card Insurance Guide

Reading Time: 4 Min Credit Card Insurance Canadian credit card companies offer a variety of insurance options for cardholders. In order to take advantage of the insurance, you must use an eligible card for the booking or purchase. Look at the various options out there, to have a better understanding of the benefits that come with credit cards. Collision… Continue reading

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Credit cards offer many benefits, but only if you use them wisely. Use the advice from our experts to make the most of your credit card perks and rewards, without falling into debt.