If you carry a balance sometimes, get a low-rate credit card so you can pay it off faster.
If you don’t pay your balance off every month of the year, get a low-rate card. Rewards cards have high interest rates, plus they are proven to increase consumer spending. “When someone’s on the fence about a purchase they could say to themselves, ‘Well at least I’m getting the miles,’” says Matt Wallaert, a behavioural psychologist.
MoneySense look at the cards that save you the most in interest charges — after fees are factored in.
* Video: Best ways to tackle credit card debt
For more on how MoneySense crunched the numbers, see their methodology.
Sept. 22 (Bloomberg) -- Ukraine prepared to pull back artillery in its war-torn east to help cement a truce that President Petro Poroshenko said is eas... More Sept. 22 (Bloomberg) -- Ukraine prepared to pull back artillery in its war-torn east to help cement a truce that President Petro Poroshenko said is easing tensions. Bloomberg “Money Clip” Host Adam Johnson reports. (Source: Bloomberg)
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How long does it take you to completely unpack after moving in?
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- 3 days – I'm an unpacking MACHINE!
- I need a full month just to figure out where to put everything!
- 3 months – I use the boxes as end tables!
- NEVER! I still haven't unpacked everything from the last move.