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Credit cards can be both a blessing and a curse. On the plus side, they provide a convenient way to buy what you need while offering protection that cash doesn’t.

When it comes to interest rates, think of it as the price someone pays to borrow money. After all, nothing in life is truly free. When you take out a loan and interest is charged, you’ll end up repaying more than you borrowed.

Opening a new credit card is usually pretty simple, but it’s a big decision. Depending on how you handle your money, a new card can impact your financial life in both good and bad ways. That’s why it’s crucial to figure out how many credit cards you should have before you apply for that shiny new one.

Credit works a lot like trust. It takes time to build, and any setbacks can require significant effort and time to repair. With household debt increasing (Canadians now owe an average of $1.71 for every dollar they earn!), building a strong credit history has never been more crucial.

In fact, according to a 2024 Canadian Consumer Credit Card Report by Nerdwallet, about 69% of Canadian adults used credit cards for essential purchases over the past year

Building a good credit score can feel like aiming for a high score in a game, with the top score being 900 in Canada.