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Tag: Interest Accumulation

Are Canadians Sleepwalking Into a Financial Crisis? A Wake-Up Call on Credit Card Interest Rates

Posted on May 27, 2011August 17, 2024 by budgetsense

A recent CGA-Canada survey revealed that more than half of the respondents had no idea how much interest they were paying on their credit card balances, with many mistakenly believing it to be around 3-4%, similar to the prime rate. This is a startling revelation. While not everyone may know the exact percentage, it’s concerning…

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