All Questions
Tagged with canada credit-card
59
questions
1
vote
3
answers
236
views
What are the risks of getting an additional credit card just so my parents get more points?
My father is retired and one of his hobby is to gather as much credit card programs as he can and manage them in a way as to maximize returns and minimize costs. I know that this can be a risky ...
- 111
0
votes
3
answers
1k
views
Cash back credit cards: what's the catch?
I had a 1% cash back credit card. It gave me $1 back for every $100 I spent. I don't believe in easy free lunch. What's the catch? What do I lose from these cash back programs?
I can't think of any ...
- 17.1k
2
votes
4
answers
724
views
Paying Credit Card After Cash Back Credit
With a credit card, are you obliged to pay the statement balance or the current balance?
For the period ending Jan 12th I have a statement balance of $200 (payment due Jan 30th), on Jan 16th I ...
- 143
2
votes
4
answers
547
views
Why not "have too much available credit" on your credit card?
A Canadian's Guide to Money-Smart Living (2019) by Kelley Keehn. I don't know her degrees or qualifications.
I first read this on p 94, but it looks like the same as p. 98 in 2015 edition that ...
user44214
2
votes
1
answer
120
views
Does it make sense to open a lot of no-fee credit cards to reduce credit utilization?
Within a week of starting to my new job, I am planning to open a lot of (5, maybe more) no-fee credit cards in order to lower my credit utilization. I am not planning to use any of these new cards at ...
- 21
48
votes
12
answers
12k
views
How can sister protect herself from impulse purchases with a credit card?
My little sister is 18, and currently has a bank account with a debit card. She and mom believe it might be time to get her a credit card, mostly to build up her credit rating than out of necessity.
...
- 463
3
votes
2
answers
1k
views
Got a work offer but asked for my first visa digits
I live in Lebanon and I made an account on Linkedin. I got a work offer from a company from Canada. They asked me questions about my education, marital status and if I have 12,000$ in my account to ...
19
votes
4
answers
5k
views
How does holding onto an active but un-used credit card affect your ability to get a loan?
I was debating with my friend about my old credit card.
His view is that holding onto an unused credit card is bad for my credit b/c it will count as potential money I can borrow in an instant and ...
- 415
0
votes
1
answer
184
views
Credit Utilization and Score. Early re-payment
I feel like this may result in the same unanswered question but I'm gonna ask it anyway just in case we can get a definitive answer.
Does paying off your credit card (before a statement is generated) ...
- 101
0
votes
1
answer
137
views
Credit Card Interest Rates
From what I can see, the going fixed interest rate in the US and Canada with Visa, and MasterCard is about 20%. I almost never see a card with a lower interest rate than this. If I do see one it is a ...
user75979
1
vote
2
answers
605
views
How does a pre-approved credit card offer, affect the probability of actual approval?
Facts
My cousin in high school has ≤ $500 in her HSBC Canada accounts, and has never had any income or job.
She has had only 1 Secured Credit Card with a $300 limit. She spends ≤ $90/month, and ...
user10763
2
votes
1
answer
640
views
Does increasing credit limit on corporate card affect personal credit score?
An individual has a corporate credit card under their own name where the company reimburses them for expenses into their personal bank account. Corporate credit card bills are paid by the individual's ...
- 247
1
vote
2
answers
3k
views
How can I transfer money from my Canada Scotia bank account to any bank account
Presently I'm in the U.S and I have some money in my Canadian Scotia bank account. How can i transfer a large sum of money from my Scotia bank account to another bank using my online banking
- 21
1
vote
1
answer
172
views
Purchase Interest on paid off credit card
I live in Canada. Recently I paid my RBC CC off in full before the monthly due date. On my next bill I incurred interest called "purchase interest" Why?
- 11
16
votes
3
answers
4k
views
Why would a restaurant offer a very large cash discount?
I understand that in many cases, merchants would put surcharges on credit card purchases, or offer cash discounts, in order to pay for transaction fees charged by Visa, etc.
However, a restaurant I ...
- 493