Using your credit card can be great, but there are risks and costs involved
Credit cards offer a lot of convenience to Canadians, as well as the opportunity to build a strong credit score and earn added benefits from rewards programs. New technologies are making credit card transactions even easier. Some people are ditching cash and debit altogether in order to simplify payments and maximize rewards.
But is it wise to go full plastic?
That’s what Jeff Schwartz, executive director of Consolidated Credit Counseling Services of Canada, explores in his latest contribution to the Huffington Post.
He’s concerned about the recent trend of paying rent and utilities with credit cards, and the fees associated. And then there’s the real danger of high interest, late fees, and threats to credit scores.
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