Credit Card Debt Archives - The Dividend Ninja

Are Reward Credit Cards Worth the Cost?

Canadian Credit Card Debt According to David Trahair, in his recent book Crushing Debt, the average Canadian has approximately $25K in household consumer debt (credit cards and lines of credit).This amount was provided from a TransUnion independent report, and doesn’t even include any mortgage debt. Trahair went on to examine the report in detail, which came to the independent conclusion that most Canadian household debt was likely being carried on lines of credit to pay off credit cards (Crushing Debt, pg.78).But for those without lines of credit, it’s not such a good deal. The Prime borrowing rate in Canada for …

Crushing Debt – Why Canadians Should Drop Everything and Pay Off Debt

by Dividend Ninja

Post-Christmas is the time of year when people sit down and make their New Year’s resolutions. I won’t cause you undue boredom with my New Year’s resolutions of how I need to get back to running 10K three times a week, set aside more money for investing, and pay off my credit card in full every month etc. 😉 The last point is pertinent, because Canadians are amassing enormous debts on their credit cards and lines of credit. [earnist ref=”crushing-debt-why-canadians-sh” id=”12660″] Trahair asks the hard questions, such as are the Canadian banks as strong as people think they are? Is …