101 Debt Matters

Can an American Corporation Apply for Credit Cards in Canada?

By VFranco

Many corporations have corporate credit card accounts to help manage and track their expenses. Visa, MasterCard, American Express and Discover, all familiar names in the U.S., are equally familiar in Canada. They are issued by Canadian lending institutions, as well as American credit card companies with a presence in Canada. Generally speaking, it is not easy for a U.S. corporation to get a...

What Happens If Someone Can't Pay Credit Card Debt?

By Jeannie Knudson

When people are in debt and find that they can no longer pay their monthly bills, credit card debt is usually the first bill defaulted on. People become strapped for cash for various reasons, including job loss, medical bills or poor money management. There are repercussions when someone doesn't pay credit card debt and the effects of letting credit card debt go unpaid can affect not only...

How Is a Finance Charge Calculated?

By J. Paventi

Credit cards are the tangible proof of a line of credit extended by a bank. As part of the terms and conditions of the credit line, the bank has the right to charge interest on an annual basis. The interest rate, or annual percentage rate, is based on the prime rate set by the Federal Reserve plus the bank's desired rate of interest. That desired addition is based on the borrower's credit ...