A column by Margaret H. Johnson ACE, RQIC, a thought leader in the field of credit education and money management.
Credit Cards
Some things money can't buy
For everything else there’s MasterCard
Have you seen the television commercial that begins with a little boy’s sleepover gone awry?
A sleepy looking man clad in his bathrobe and pyjamas is driving a station wagon. He pulls to the curb in front of a large suburban home and walks toward the front door, the narrator’s voice details the "Cost of a sleeping bag: $40. Cost of a backpack: $18. Cost of walkie-talkies: $25."
Identity Theft is on the rise
What can you do?
Picture this scenario: you go to the grocery store and decide to pay the cashier with your credit card. You reach into your wallet and discover that your credit card is not there. Franticly you search for it but the credit card is gone!
Credit Master or Debt Slave?
This year you decide –
Now that Christmas is past, for another year – Do you know how much money you owe in total on your credit cards, or will that be a surprise for you sometime in January?
Credit Card Facts
Do you know your credit card facts?
With 44.1 million MasterCard and Visa’s in wallets of Canadian consumers – I believe the more we know about these little plastic cards, the better. Did you know, the highest sales volume day, for Visa and MasterCard is Dec 23?
Credit Card fees are negotiable – You may be paying up to $120.00 a year or more as an annual fee per credit card depending on the credit grantor and the type of card you are carrying. You may also be subject to finance and interest charges of over 23 per cent or higher.
Credit Card Secrets
Do you know your credit card facts? Credit Card fees are negotiable? – True
You may be paying up to $120.00 a year or more as an annual fee per credit card depending on the credit grantor and the type of card you are carrying. You may also be subject to finance and interest charges of over 23 per cent or higher. – If you are a “good” customer, (in other words you pay your account on time each month) the creditor may be willing to drop the annual fee and reduce the interest rate – All you have to do is ask. If the creditor refuses look for a different card.
Credit Card Fraud
Identity Theft
Picture this scenario: You are standing in the line up ready to pay for your new shoes, the store is busy, it is hot and cranky people are everywhere. Just as the clerk rings in your purchase and tells you that will be $112.50 - You reach into your wallet for your Visa card and your credit card is gone. Frantic, you search your purse, your pockets; you check your other packages, the floor where you are standing, but no card. Your heart is pounding! You are feeling sick to your stomach. Then you rush out to your car, no card there either, you race home and search everywhere, but all to no avail.
The card is gone – misplaced or worse stolen!
Remember, if you are experiencing financial difficulties do not wait. Speak to a professional today!
Margaret H. Johnson ACE. RQIC is president of Solutions Credit Counselling Service Inc. offering 100% confidential and unbiased credit counseling, debt consolidation and credit education services. She can be reached by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or call toll-free in Canada - 1.877.588.9491.
If you are a woman in debt, speak with Women and Money first. We specialize in helping women with their personal and business finance. Money management advice you can count on!
