09/21/2023
I'm often asked about Credit Cards... what card should I get? Is it worth paying the annual fees? Do I even need a credit card if I can simply pay for everything in cash? Are the points worth it?
So many great questions.
Here are the basics to keep in mind...
1. Yes, Credit Cards are important financial tool. Managed properly, they can help you build a strong credit score. Managed incorrectly, they can be very damaging to your Credit Report. Always make your minimum payment well before the due date and do your best to pay the monthly balance in full each month to avoid interest charges.
2. There are so many great options these days that do not have an annual fee. And many of these cards also come with great points programs. Choose a cards that matches your spending habits to best capitalize on those point programs. I'm a big fan of the PC MasterCard. See the link below. I shop regularly at No Frills, Superstore and Shoppers. I also purchase my gas from Esso. Each of these locations help me to maximize the points I get in return for regular everyday purchases.
Have more questions about how Credit Cards impact your credit score or if you would like to discuss consolidating your current credit card balances into your mortgage, send me a message. I'm happy to chat in more detail about your options.
Earn more optimum points with the no fee PC Mastercard and PC Money Account. Score more rewards and manage your account online anytime, anywhere.
