Almost everyone has access to credit these days. Teenagers and adults use credit cards, lines of credits, vehicle leases, loans and mortgages. They may be different in how they work but at the end of the day, it’s borrowed money. There are various associated fees including: Interest Cardholder fees Legal fees Transactions fees Currency exchange […]

As a result of new Canadian legislation, credit card companies must show the amount of time it will take to repay the amount owing on the credit card if only the minimum payment is made. It is calculated on the current balance.

This is a common question. In a nutshell, more frequent payments make less of an impact than making extra or larger payments … Here’s why: