https://padlet.com/usama1969/p5gitubcdet0 Made with a creative frenzy en-us 2018-03-08 00:49:51 UTC 2026-01-09 10:23:38 UTC hello@padlet.com usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252176479 By: Usama Khalid  ]]> 2018-04-16 14:47:39 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252176479 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252180063 In the world we live today we have many substitutes for money. A credit card is used as a popular form of payment in today's day and age. In discussing this topic I will focus on the advantages, and disadvantages that come along with the usage of credit cards, and how to optimize the use of a credit card.

]]> 2018-04-16 14:53:59 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252180063 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252230793 Credit Card Canada is a great site that has amazing content regarding the usage of credit cards, and its advantages. According the website the Canadian Bankers Association stated that there are about 76.3 million credit cards in use within in Canada. I found this statistic quite eye opening as thats a drastic amount of people only within Canada who use credit cards. With the use of credit cards comes it advantages some being: 
1) Sign up bonuses 
2)Interest free periods 
3) Discounts/promos
When one signs up for a credit card you can receive sign up bonuses such as discounts or cash back at specific stores. Some cards come with an interest free period for a certain time. During this time a person does not have to pay interest on there balance, until the interest free period is over. You can also receive discounts when you use specific credit cards at some retail stores, as it is a perk of some retail credit cards. This website really opened my eyes in-terms of how one can optimize credit cards for discounts. And that you should sign up for certain retail credit cards that offer cash backs, and discounts. ]]> 2018-04-16 16:29:13 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252230793 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252240110 A credit card has its advantages, but it also comes with some disadvantages that one should be aware of. This website educates one about the downfalls of a credit card, and how to avoid them. Some being:
1) Overspending 
2) Increase Debt
3) Damaging Credit History
These disadvantage are some what linked together. When people have credit cards with a big limit on them they feel they can spend as much as they want to. At the end of the day you should be able to budget your credit card usage as your are responsible to pay your credit card bill at the end of the day. If one overspends, and are not able to pay off your bill you accumulate debt. And your debt will grow if you do not pay it off due to interest rates on credit card bills. Some cards charge an interest rate between 10-35% which is a staggering percentage of interest. Now if you do not pay off your debt your credit history is affected. Everyone has a credit score asscoiated with there credit spending. And if one is in debt to not paying there credit bills your credit score will be affected. If you have a low credit score it affects you ability to qualify for loans, financing cars, and mortgages. Therefore, one should always pay there credit bill at the end of each month.]]> 2018-04-16 16:48:11 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252240110 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252255172 Now that we know some of the advantages, and disadvantages of credit cards we should also be educated on how optimize the usage of credit cards. This website is great in educating one of the do's and don't of a credit card. When shopping for a credit card one should search for a credit card with a low interest rate. As one of the previous sites mentioned a big disadvantage to credit cards is high interest rates on late payments. You should also be care of annual fees that some credit cards incorporate to compensate for that low interest rate. With annual fees there may also be some hidden fees at times. So when signing up for a credit card one should always be careful by reviewing the hidden information/rules, and the small print on the credit card.  As humans sometimes we get tempted to spend more that we have so having a low credit limit is quite beneficial in terms of lowering spending temptations. A useful tip mentioned on this site when using credit card is to pay your full bill at the end of each month. With credit cards you have a choice to pay the minimum, and slowly pay off the full bill. But this will accumulate interest on your bill making you lose more money in the long run, so one should pay off the bill at the end of each month. ]]> 2018-04-16 17:17:44 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252255172 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252325378 This video is great in providing a visual to represent the advantages, and disadvantage of credit cards. It elaborates on how a credit card is like an open ended loan. It increases you spending power as you have more money to spend then you may currently have. In times of emergency you have an instant loan you can depend on being your credit card. But again you do not want to overspend using your credit card, as the interest rate charged to a late fee is directly connected to how much you owe. So the more you owe the higher the interest. If you pay your full bill at the end of the month you will avoid interest, and increase your credit score. A credit card also helps you avoid theft as you would not have to carry money around. If someone steals the credit card, and makes unauthorized purchases, you can talk to the bank to settle your balance. A useful tip retained from this video is that one should keep there balance below of there what 30% of the credit limit would equal to. This will make you look good in terms of the banks perspective, and will make you avoid debt.
 ]]> 2018-04-16 19:44:59 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252325378 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252330311 This video educates a person who may be shopping for a Canadian credit card on some of the best credit cards in the market, and there advantages:
1) Tangerine Credit card: 
The advantage of this card is it's no annual fee's,  and 2% cash back
2) American Express Simply Cash: 
Offers a 1.25% cash back, various sorts of insurance, and pre concert purchases 
3) Home Trust Preferred Visa: No annual fee's, 1% cash back, car rental insurance, and free road side insurance (great if you travel a lot) 
4) Scotiabank Scene Visa card: 
Scene points on day to day purchases. The scene points can be redeemed at Cineplex movie theatres for free movies, or discounts on snacks, some restaurants excepts scene points as well.
5) Rogers and Fido Mastercard: Rogers MasterCard :1.5% cash back when using card in foreign country, 1.75% cash on national spending (CAD) if you have fido, rogers, chatr bill then you have no annual fees 
Fido: 1.5% cash back, cash back  is given in the form of paying off a phone bill

This are some of the best credit cards within the Canadian market. When signing up for a credit card these cards offer amazing incentives which is a big advantage to some of these credit cards. This information is quite useful as it will be able to educate you in which credit card is the best suitable for yourself. 
P.S  ( This videos information was backed up with links in the bio of the video. I double checked to make sure the information was accurate) 

]]> 2018-04-16 20:00:47 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252330311 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252359082 In this picture we can see the advantages that come with the usage of credit cards also known as incentives. One can receive air-miles which are redeemable for vacation purposes. You have retail discounts that can be accumulated with the usage of the credit card. And the dollar bill represents the cash back one can receive from making credit card purchases. I really appreciated this visual as it is simple, but reminds the audience of some of the perks that come with using a credit card. ]]> 2018-04-16 22:15:09 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252359082 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252361247 This visual is quite symbolic of credit card debt. Credit card debt is a big disadvantage of using credit cards, and arises if not used carefully. As some of the other websites we have researched have mentioned that overspending on credit can lead you to unpaid bills. If your bills are unpaid then you will most likely accumulate interest. And all this can cause a person to overwork themselves, and take burden on there lives financially. In this picture we see a person struggling to a carry a credit card on his back. The credit card represents the debt, and the person struggling represents his effort to pay back the huge bill of the credit card. This picture is great in giving people a perspective on how hard credit card loans can be to pay off; And to be careful when using a credit card. ]]> 2018-04-16 22:31:50 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252361247 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252362134 This picture can mean a lot of different things to different people. In my eyes this picture reminded me of some credit cards having hidden fees, or annual fees which can be a disadvantage. When we sign up for credit cards sometimes we over look the fine print, or the hidden fees. Due to this bad decision we tend to get trapped into paying these fees. Therefore one should do some research, and make a suitable decision before signing ups for a credit card. ]]> 2018-04-16 22:38:56 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252362134 usama1969 https://padlet.com/usama1969/p5gitubcdet0/wish/252362841 This video features a gentlemen that goes by the name of Bruce Sellery who discusses different types of credit cards. He elaborates on the different cards in the Canadian market, and which one is suitable for you. Some of the credit cards being:
1)Cashback card: So if you spend a certain amount, you get a certain amount of money back. This card is great for someones who is an avid shopper 
2) Retail Rewards cards:  This card give you points based on your purchases, and those points can be redeemed toward getting discounts on products. For example the Rogers First Rewards Master-card gives you points on all your purchases on the Master-card , and you can redeem those points for a discount on Roger bills/products
3) Travel Rewards: If you like to travel some credit cards give your travel points for your spending. The points can redeem you a plane ticket allowing you to travel. 

All in all, this video was great interns of elaborating on some of the advantages specific Canadian credit cards. This allows you to make a suitable decision when signing up for a credit card. ]]> 2018-04-16 22:45:55 UTC https://padlet.com/usama1969/p5gitubcdet0/wish/252362841