SummaryIs our addiction to credit cards and consumer debt really a necessary evil in today’s interconnected world – or is there another way? Steve Stewart of MoneyPlanSOS joins us to explain his anti-debt philosophy and what options the average person has if they want to stay away from making expensive debt-related mistakes. Since a few of us on the panel have well-established love affairs with our travel rewards credit cards the conversation should prove lively!
Key Takeaways From This Episode
Some important points made in this episode:
- Is it even possible to ditch credit cards in today’s world if one wanted to?
- Peter and Tom bring up some interesting proof of rewards credit cards being tied to higher spending habits.
- Will not using credit cards hurt your credit score?
- Is it safer to use a credit card than a debit card?
- Do your credit cards rewards points fall from the sky or is someone else footing the bill?
- Steve likes eCredable and what it can do for people who refuse to buy into the credit score game.
- Mastercard’s zero-liability plans for debit cards.
- Canada’s credit card addiction as of this year.
- See your FICO score today.
- Canada’s credit scores are kept by Transunion and Equifax.
Panelists In This Episode:
- Special Guest – Steve Stewart | MoneyPlanSOS
- Glen Craig | Free From Broke
- Kyle Prevost | Young and Thrifty
- Miranda Marquit | Planting Money Seeds
- Peter Anderson | Bible Money Matters
- Tom Drake | Canadian Finance Blog
For a quick bio of each of our show participants, head on over to our panelists page.
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