All loans are subject to credit and underwriting approval. Further documentation may be requested from you. Canadian Cash Solutions is not a lender but a lead referral company and may be compensated for its referrals. Loans range from $300-$2.1 million (additional for mortgages) with terms of approximately 2 months to 72 Months (additional for mortgages). APRs range from 2.5% to 29% and will be dependent upon our partner's assessment of your credit profile. For example, on a $1200 loan paid monthly over 12 months, a person may pay $114.05 per month for a total of $1368.64 over the course of the entire loan period. This amount includes our partner's optional loan protection policy. In the event of a missed payment, you are subject to an insufficient funds fee from about $30-$70 (dependent on the lender). Once a loan is in default, your payment plan will be terminated. Different collection methods may be employed to collect your remaining balance. Failure to pay will result in possible legal action and any outstanding debt may be pursued by the full extent of legal options. Our lenders employ fair collection practices.
Note: Canadian Cash Solutions and its affiliates will never ask or charge you any pre-qualification or application fees. Canadian Cash Solution is not a lender but a leading referral company in the finance industry. Canadian Cash Solutions and all of its financial partners adhere strictly to Canadian laws and regulations. To protect yourself, read more on this topic here.
How to manage your credit cards
Credit cards are a great addition to your wallet. However, just like everything else in the world, credit cards too require proper management.
We all have at some point carried several credit cards, all in hopes to optimize our chance of earing rewards to its maximum capacity.
However, as time passed, we soon realized that having way too many credit cards is good for nothing but headaches and stress.
It is no fun trying to remember paying off each card, neither is it fun remembering which card to use when. That’s like going through a lot of trouble for little or nothing.
If you are going through this phase, we suggest that you take a break and review your credits.
Skim down to the two cards that offer the best rewards and stick to using them for all of your purchases.
Closing credit cards that are good for nothing is also a suitable option. However, please remember that closing credit cards, especially ones that you’ve had for a very long time can hurt your credit score, so weigh your options carefully.
Monitor your spending
It is very important for you to monitor your expenditure. The biggest risk that comes with having credit cards is that they are so deceptive. One swipe and boom! You are the owner of a brand new laptop.
With credit cards at our disposal, we are all getting in the habit of spending money that we don’t already have.
It is very important for you to manage your budget and keep an eye on what you are using your credit cards for.
Take advantage of auto-pay
Credit cards come with the added advantage of you being able to set-up automatic payments in order to take care of your monthly bills. This means no more stressing out to make it to the post office in time to mail out your electricity payments.
Don’t hoard points!
If your credit cards give you rewards, we suggest that you use them without a lot of delay.
In many cases, you don’t get any prior warning when your points expire, or when the company readjusts how much each point is worth. So, if at like one point in time your 50,000 points could fly you to Asia, sometime later they could maybe get you a camera, only.
Always remember to pay off your debt!
Although, there is no easy way around this one, it is utmost important for you to pay off your credit cards within its due course. Aim for paying more than the minimum, in order to reduce the interest that you pay each month and to reduce the amount of time it would take for you to completely pay off your dues.