All Questions
Tagged with canada credit-card
59
questions
4
votes
1
answer
237
views
Can a prepaid Amex be legally allowed to expire in Canada?
While moving, I recently found an old prepaid Amex card that I had originally selected from my then-employer's "recognition" benefits program. The card expired in 2013, but my understanding ...
- 42.8k
1
vote
1
answer
134
views
Does the customer have obligations under Know Your Customer?
I have a credit card with a Canadian bank that I do no other business with at all - no accounts, no loans, no investments. They sent me a letter asking me to confirm that all the salient details are ...
- 13.4k
4
votes
5
answers
3k
views
When is a transaction not "normal" and considered a cash advance?
I had recently opened a Wise account which required an initial deposit to be active. It had an option to make the initial deposit by credit card. One of my credit cards froze the website and the bank ...
- 497
0
votes
1
answer
181
views
Must the Credit Card Issuer refund Card Holder, for deposits paid to a Merchant that later bankrupt?
Presuppose that a Card Holder charged or debited her credit card, to pay deposit money to a Merchant company for a good. But then Merchant bankrupts, before Card Holder ever obtains the good. ...
user116038
2
votes
0
answers
112
views
When does a foreign transaction fee apply to a credit card (especially from shopping online)?
I assume if you go to another country and use a credit card, then the foreign transaction fee will always apply.
What if I use a credit card to make a purchase from an online store? Does it depend on ...
- 497
3
votes
3
answers
261
views
What's the difference between a soft and hard credit check?
I understand that hard credit checks negatively impact a person's credit score. Why would it work this way, because it's seen as a negative thing to be applying for credit cards too often? Even then ...
- 69
1
vote
4
answers
590
views
Planning on having all bills due on the same day
I currently have 3 credit cards, one of which I virtually never use. I'm planning on calling the companies and asking to change the billing cycle so they end on the last day of each month. This would ...
- 1,119
0
votes
1
answer
146
views
Is it best to pay off credit cards as close to the due date as possible? Is it bad to pay mid cycle? [duplicate]
I will preface with I have a very bad sense about these sorts of things. When is it a good idea to pay off a credit card balance before the end of a cycle?
For example a statement period is Apr 13 to ...
- 1,119
2
votes
1
answer
1k
views
Is it a concern if the pending transaction date is wrong on credit card? [duplicate]
I have 8 pending transactions on my credit card. Yesterday I went to a store and bought something with it. But the transaction shows up with today's date instead of yesterdays. Today I bought ...
- 1,119
3
votes
3
answers
23k
views
If you buy something with one credit card, and refund it to another, do you get to keep the points/cashback/etc from the purchase?
To my understanding most stores have policy that a refund must be done to the same card that was made to use the purchase. However this is not always the policy and I don't think there's a legal or ...
- 69
3
votes
1
answer
2k
views
When should I give my Social Insurance Number to a Credit Card Company (or anyone else for that matter)?
When applying for an American Express card, it asks me for my social insurance number (SIN) but it is optional. Should I give it? The site states
We encourage providing your SIN for more accurate ...
- 264
1
vote
1
answer
86
views
How to find comprehensive agreement before getting credit card?
I'm looking to get another credit card. Generally speaking I find it difficult to cut through the marketing talk to find out what I'd really be getting myself into. I'm looking for one with high ...
- 264
6
votes
5
answers
2k
views
Assuming you already have the money, how to tell when/which day of the month to pay off credit card balance?
Maybe this is a simple question but I have a really bad sense about these type of things. When I got my first credit card the teller "did me a favour" and said if I always paid it off in ...
- 1,119
3
votes
1
answer
575
views
How do I update my address with Transunion and Equifax and what are they?
I recently applied for a credit card with a bank I had never done business with before. One day I got a confusing call from them. From what I understood Equifax and Transunion have an old address on ...
- 264
40
votes
14
answers
12k
views
Why would someone get a credit card with an annual fee?
I currently just have a Visa credit card. A place I shop at doesn't accept them. I'm looking at getting a second credit card such as Mastercard. I am surprised by how many highly recommended cards ...
- 1,119
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