Groceries, gas, and heating bills have gone up. As inflation grows, more consumers rely on credit cards to bridge the gap between income and expenses. “It is the combination of inflation and an overall cost of living, which includes housing, that is driving people to lean more frequently on open lines of credit,” Bruce McClary,…
Consumers Dig Deeper in Debt as Inflation Prompts Credit Card Use for Daily Expenses
Reader Discovers It’s Difficult to Pay the Balance to the Penny
Dear Cheapskate: This is petty perhaps, but how does one ever completely pay off a credit card account? We paid off a credit card recently (Hallelujah!) by sending a check for the exact amount of the balance due taken from the monthly statement. The following month we received a bill for $1.91—all of it a…
Bounce Back From Bankruptcy and Advice to Readers
Dear Mary: Please give me some pointers on bouncing back from bankruptcy. Will this have any effect on future employment opportunities?—Henry, email Dear Henry: Live on cash. Have only one credit card, and if you use it, pay it in full every month. Refuse all other offers of credit, and take on no unsecured debt….
How to Safely Use Payment Apps
As a frequent PayPal user, I wasn’t surprised to see a payment request on the app pop up. But when I read it, I knew something was wrong. In the message, a stranger asked me to send them $699 in order to get a “refund.” While I instantly recognized the request as a scam, I…
Parents, Know Your Legal Responsibilities on Your Kids’ Credit Card Debt
January 15, 2023
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By Steve Rosen From Tribune Content Agency Your teen had a great time using his credit card on holiday shopping sprees, so much so that he spent to the max and now can’t pay the tab that is due. This is a reality check right to the wallet for mom and dad. That’s because the…
Cheques Make a Comeback as Small Businesses Look to Avoid High Credit Card Transaction Fees: Bank of Canada
January 7, 2023
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The paper cheque is gaining back its popularity among small businesses as they look to offer more payment options to avoid the high transaction fees that come with accepting credit cards, according to a study by the Bank of Canada. “Merchants mentioned accepting a wider range of payment methods because they need to make sales…
Spending: Credit Cards Offering Security Perks
By Rivan V. Stinson From Kiplinger’s Personal Finance Credit card issuers offer many perks for their customers, but one of them is peace of mind. Cards often provide some protections against thieves and unauthorized charges. Capital One’s CreditWise and Chase’s Credit Journey, for example, offer cardmembers—and non-cardmembers—free credit monitoring. The services track your Social Security…
Credit Card Companies Expand Perks
By Rivan V. Stinson From Kiplinger’s Personal Finance Credit card issuers are expanding their perks to give loyal customers breaks on dining and entertainment. Food-delivery memberships and discounts are among the trendy benefits now, says Ted Rossman, senior industry analyst for Bankrate.com. For example, Chase and DoorDash extended their partnership to offer eligible cardholders a…
Look to Your Credit Card for Travel Protections
By Rivan Stinson From Kiplinger’s Personal Finance With delays and cancellations for air travel worse than ever, your credit card’s travel insurance could come in handy to cover various aspects of what could go wrong with your trip. Insurance for trip cancellation or interruption kicks in if your prepaid or nonrefundable flight is canceled or…
No Governance Committee Actively Monitoring Procurement Activities: Audit Report on Heritage Department
An audit of purchasing practices in Heritage Minister Pablo Rodriguez’s department finds, among several findings, there is no governance committee that “actively provide[s] guidance and oversight over procurement activities.” The findings are the results of an audit conducted by the internal audit function of the Department of Canadian Heritage (PCH), which were compiled as a…
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