https://padlet.com/caitlyn_m_anderson/74ppueckief9 By Caitlyn Anderson and Karen Scott en-us 2018-06-05 17:16:08 UTC 2023-05-22 20:11:58 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Balance.png caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701423 Welcome to our Padlet wall, here we have taken time to research the topic of credit choices and whether certain types have more advantages than others. ]]> 2018-06-05 17:35:12 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701423 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701825 Have you ever walked into a checkout line and before they ask you about your payment options, they ask if you own the store credit card? The initial incentive is always redeemed towards your purchase to get you hooked and then you realize how high the interest rates are a unpaid balance. This website outlines the pros and cons of owning a credit card from your favorite retail stores.
I learned that although owning a credit card to my favorite store can have perks, the interest rates are very high.]]> 2018-06-05 17:37:07 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701825 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701863 This website is issued by the government of Canada outlining different types of credit to choose from and applying the advantages and disadvantages to each. Most individuals can get caught up in the offers and benefits and rarely read the fine print.   The website offers tips on how to keep borrowing costs low and what to look for when you are signing any loan or borrowing agreement. 
I learned a lot on this site. It made me a lot wiser about which credit options I have so I can make better and smarter borrowing decisions in my future.]]> 2018-06-05 17:37:15 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701863 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701888 This website outlines the pros and cons of low interest credit cards. There are so many different types of credit cards available and some seem better than others. Low interest rate credit cards offer less stress when you are overcome with payments due to the low interest rates. They have drawbacks as with anything card such as no rewards. Sometimes depending on an individuals situation in their finances low interest credit cards can suffice for the time being. 
I learned that this would be a wise decision for me if I was looking into a new credit card. Since I am a student, I barely use my reward card enough to even benefit from them.]]> 2018-06-05 17:37:22 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701888 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701908 This video is a helpful for students in particular. Many students suffer from debt from all different type of credit choices, credit cards and OSAP are the common types. What students would benefit from is taking the time to consolidate all their debt into one. By taking out a student line of credit they can lower their interest rates and compress all owing debt into one place. 
I learned from this video that once it is important that I visit a financial adviser and consider my options of consolidating debt.]]> 2018-06-05 17:37:28 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701908 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701941 This video outlines the risks of falling into the habit of using payday loans. This is a spiraling phenomena that Canadians get caught in, where asking for cash is easy and seemingly without ties, and works well for that desperate moment; thereafter, they begin to scramble for money to pay the loan back. The interest rates are outrageous and individuals end up worse than they began. 
What I learned from this video, is that even if it is a last resort, the amount of further damage it can cause is still outweighing. ]]> 2018-06-05 17:37:33 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701941 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701961 Buying a house is a large commitment and an incredible investment but at what cost? A mortgage can have you paying monthly payments on your house for decades. This video is about a man who purchased a home in Toronto and was able to pay off his mortgage in 3 years by working hard, renting out his upstairs and taking out a 5 year fixed rate loan from a secondary lender. 
I've learned that credit is something that is used to help individuals reach goals quickly but the longer it takes for that individual to pay it back the more money they have to spend. This video is an interesting take on the advantages of using credit to help you toward a goal, instead of relying on it completely.]]> 2018-06-05 17:37:38 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701961 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701982 Credit choices are endless, there are many ways to obtain credit, whether it is good or bad, credit can give you the freedom to own items and experience things quickly. This is not usually with out some sort of consequence. It is important to research credit options and read the fine print. Obtaining fast money can be easy, but it is not as glamorous as it seems. Protect yourself and choose wisely.]]> 2018-06-05 17:37:43 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265701982 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265702025 We have all heard a multitude of credit card offers, each one with their advantages and disadvantages. It is important to do the research and find what card works for you and your current situation.]]> 2018-06-05 17:37:51 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265702025 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265702035 Store credit cards are often offered to us towards the end of store purchases. They are trailed with incentives to earn cash back or discount on purchases, but most often than not, consumers are left with unpaid balances with high interest payments.  ]]> 2018-06-05 17:37:54 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265702035 caitlyn_m_anderson https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265736897 2018-06-05 20:34:38 UTC https://padlet.com/caitlyn_m_anderson/74ppueckief9/wish/265736897