Business credit cards are generally issued in your company’s name and used to carry out business expenses. You repay the outstanding debt using company funds, which impacts your company’s business credit score. Business credit scores are different from personal credit scores. Furthermore, defaults on a business credit card won’t make you personally liable for any … Read more
A Reddit user expressed shock in a post after finding out he could pay for milk and bread in instalments. Financing for milk and bread? Yes, you read that right—Klarna’s “Shop Now Pay Later” app allows you to buy groceries and shop for almost anything from top brands across the globe, such as Nike, Instacart, … Read more
DJ, 33, and Adam, 37, live in rural New York and have been dating for three years. The main reason stopping Adam from getting married to DJ is her $15,000 credit card debt. She has been carrying the debt her whole life despite making $6,000 monthly. The couple’s anxiety over the future led them to … Read more
Federal efforts to bring “open banking” to Canada are being welcomed by players in the industry — but there’s also criticism that, after years of waiting, any changes may not come fast enough to encourage innovation or allow smaller financial players compete with larger institutions. Open banking lets consumers or business customers share personal and financial information between approved banks and other … Read more
Have you ever witnessed your credit score drop despite making timely credit card and loan repayments? Your credit score is determined by several factors apart from your repayment history. Your FICO credit score ranges from 300 to 850 and is checked by lenders when you apply for a loan, credit card, or mortgage. A score … Read more
Cassandra, 40, was in for a shock debt reveal when she asked her husband, Aldo, 41, about their debt liabilities. Aldo, who works in a finance role and earns over $100,000 annually, said the debt amounted to over half a million dollars with $66,000 in collections due to months of missed payments. Cassandra and Aldo … Read more
Your first credit card is a significant step towards financial independence. While it’s relatively easy to obtain one with a job, it’s crucial to understand that it’s equally easy to accumulate debt rapidly. However, by using your credit card wisely, such as maintaining a low credit utilization and making timely repayments, you can actively build … Read more
Here’s the good news: Airfares have declined in Canada. The bad news? You might wind up paying more in added fees. WestJet and several U.S. airlines recently hiked their checked bag charges. Discount carrier Flair Airlines has raised some other fees, and added a surcharge when customers pay for their flight with a credit card. Airlines often say they “unbundle” … Read more
By KEN SWEET (AP Business Writer) NEW YORK (AP) — Capital One Financial said it will buy Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s credit card companies as well as potentially shake up the payments industry, which is largely dominated by Visa and Mastercard. Under … Read more
Business insolvencies jumped by more than 41 per cent in 2023, according to data released Friday by Canada’s top financial regulator. The report from the Office of the Superintendent of Bankruptcy showed that the total number of insolvencies — meaning those filed by both businesses and consumers — was up by 23.6 per cent last year. The … Read more
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