You are hereMonthly archive / April 2009
April 2009
To Refinance or Not to Refinance?
It’s true, the Bank of Canada has cut interest rates, and banks in turn are offering lower interest rates as well. So you wouldn’t be the first to consider refinancing your mortgage. But does it make sense for your particular situation?
Latest Delinquency Statistics Vary by Region
Equifax Canada has released data which shows the number of Canadians falling behind on their bill payments has risen substantially over the past year. "Most of the increase is coming from credit card debt," vice-president of Equifax Consulting Solutions, Nadim Abdo, says.
Cap Credit Card Rates or Educate Consumers?
If you've been paying attention to the news lately, or to the fine print on your credit card statement, you know that credit card companies are jacking up interest rates left and right. If you're part of the two-thirds of Canadians who pay their credit card bill in full each month, higher interest rates may not bother you at all. But if you're part of the one-third who can't afford to pay down your balance each month, you're getting pretty fed up.
Using “Commitment Contracts” to Meet Your Financial Goals
Do you have a financial goal you’ve been having trouble meeting? Say, for example, you wish you were contributing more to your retirement savings plan, or paying down your debt faster? StickK.com might be able to help.
Is Your Home Safe from Title Fraud?
Title fraud can devastate a homeowner's finances and plans for the future. Find out how a thief can steal your home's title out from under you, and what you should do to protect yourself.
Retailers Rebel against Hiked Credit Card Fees
Consumers aren't the only ones perturbed by ever-increasing credit card fees. Retailers, too, are tired of the credit card companies' "continual and frequent increases" in service charges.
Qualifying for a New Home Gets a Little Harder
Shortly after Genworth announced the expansion of its Homeowner Assistance Program - a program designed to keep struggling homeowners in their homes - the mortgage default insurer quietly made it more difficult for would-be homeowners to qualify for a mortgage.
A Fun, Interactive Way to Teach Your Child about Credit
The recent economic downturn makes it clearer than ever how important credit education is for the next generation. How do you show your children how credit cards work while protecting them from the potential risks that come with access to credit? Consider extending your child "credit" from "The Bank of Mom and Dad."
My Debit Card Was "Compromised"
The first time it happened, I was preparing for a night on the town. I paid a visit to the local bank machine, typed in my PIN. When it came time for the bills to roll out, however, I was left in the lurch. Apparently the transaction couldn't be completed. I learned later that my card had been "compromised," most likely to due debit card skimming.
How to Find the Perfect Credit Card
Using a credit card wisely is an excellent way to improve your credit score. However, finding the right credit card can be a bit complicated. All of the different terms, conditions, rewards and benefits are difficult to weed through, especially when you receive several credit card offers a day in the mail. Here we share some top tips for finding the card that's right for you.
