Credit Card Debt Assistance | New Consumer Protection Rules

The Canadian government has issued brand new credit card debt assistance through new consumer protections designed to protect Canadians from unfair practices by their credit card companies. The new rule, which will set a uniform 21 day grace period before interest could be charged on new purchases, is designed to give you some options and prevent you from possibly having to pay interest on new purchases beginning the moment your card is swiped at the point of purchase.

This rule won’t prevent all interest charges from taking place because billing cycles vary. Credit cards are still a potentially lethal financial weapon that can wreck your budget and set your plans for financial independence back by years – perhaps decades – if you aren’t careful.

If you’re considering a refinance loan a way to to achieve credit card debt assistance in the near future, it might be a great idea to reduce the amount of available credit you have on existing credit card accounts. I wrote an article that addressed this topic awhile back – and the advice still rings true today. To read that article follow this link:
http://homerefinancecoach.com/home-refinance-tips/can-reducing-a-credit-card-limit-help-your-refinance-goals#more-563

As the economy sputters and does its best to stay alive, a lot of people have resorted to using credit cards to help to finance purchases that probably should have made on a cash basis. In some cases these expenses couldn’t be avoided; in still others Canadian consumers have made the knee-jerk judgment call that they were needed in an emergency.

Lots of life’s little emergencies aren’t really emergencies, but rather, are examples of poor planning. If you’ve made your way back from the hellish nightmare that can take place when you get in over your head with out of control credit card spending, you know how liberating it can be to pay off a credit card.

Unfortunately, many people soon discover that they’ve taken a second trip into the financial wasteland of carrying high balances on credit cards. If you are looking for ways to prevent this from happening to you or you’re looking for a systematic path to credit card debt assistance, read this article I wrote on this topic by following this link: http://homerefinancecoach.com/debt-relief-tips/secret-to-avoiding-credit-card-debt#more-387

Finally, avoiding unnecessary credit card fees can be difficult. Sometimes consumers try to use their heads and try to make smart decisions with credit cards, even if they’re carrying balances on their cards. One way some people try to protect their credit rating in the event of a job loss or some other financial calamity beyond their control is by buying credit protection insurance from their credit card company.

The question is: Does it make good sense – or is it a waste of money?
I give a clear and unequivocal answer in this article I wrote here: http://homerefinancecoach.com/credit-repair-help/credit-protection-insurance-easy-money-for-credit-card-company-waste-for-you#more-264

Credit cards are dangerous if they’re mis-used. They can also be a useful tool that can help you to reduce the stress in your life. It comes down to responsibility. Do you have enough self-control to manage a credit card without using it as a means of financing a lifestyle you can’t afford?

Only you can answer this question.

Think carefully about your answer because if you get it wrong it could cost you dearly.

Once you’ve answered this question you may have another, more pressing question: Where are the scissors?

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