125 - Paying Off Your Credit Card With a Lower-Rate Card

DebtMatters Podcast

Konten disediakan oleh Debt Matters Team and Wayne Kay. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Debt Matters Team and Wayne Kay atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.

12M ago 15:39

MP3•Beranda episode

Credit card spending in Canada has reached a historically high level. With such high demands for credit, credit card companies are finding ways to be more competitive. Some offer lower-interest or no-interest cards for a limited time when you do a balance transfer. But is it a good idea to pay one credit card down with another? Today, Licensed Insolvency Trustee, Mary-Ann Marriot, discusses low-interest credit cards and how to make them work for you.

She also answers the questions:

How will my credit score be affected?
Should I cancel my credit card once it’s paid off?
Would a consolidation loan be a better option?
Where can I get a low-interest or no-interest credit card?
Is it beneficial to increase my credit limit?
What is the optimum percentage of credit utilization to get a good credit score?

If you are struggling to keep up with your credit payments, talking to a Licensed Insolvency Trustee can help. They are qualified debt professionals that offer resources and strategies to improve your financial well-being.

About Mary-Ann Marriot

Mary-Ann Marriot has been working in the insolvency field for over 25 years. She received her Chartered Insolvency & Restructuring Professional designation in 2005 and her Licensed Insolvency Trustee license in 2014.

Mary-Ann is passionate about helping people become financially literate. She feels honoured to be able to help individuals discover solutions to overwhelming situations and find peace-of-mind in their lives.

Additional Resources

161 episode