Skip to content

What do credit cards really cost?

Credit cards have become practically indispensable today. Used with discipline, they are a positive payment tool for daily shopping, making larger purchases, accumulating reward points and even building a credit history. However, inappropriate use of credit cards can lead to harmful impacts on your personal credit. By being well-informed about how they work, you can take advantage of this payment method without suffering the consequences.

Is creditor negotiation the right solution for you?


Creditor negotiation may be a viable solution if:

  • You have few creditors.
  • Your debts are not very high.
  • You are going through a temporary situation that is affecting your finances, such as a temporary lay-off.
  • You have good business relationships with your creditors and they have confidence in you.

Interest calculator for your credit card debt

  • Your Information
  • Credit card information
  • Credit card balance
  • Annual interest rate
  • Option A: If you only make the minimum payment each month
  • Minimum monthly amount
  • Minimum monthly percentage
  • Option B: If you pay a fixed amount each month
  • Fixed Monthly Payment
  • Option A
  • Option B
  • Time to pay off
  • Interest paid
  • Total paid
  • This field is for validation purposes and should be left unchanged.

A few tips to make it easier to manage your personal budget:

  1. Pay off the full balance owed. If this isn’t possible, always make the minimum payment.
  2. Prioritize payments to the credit card with the highest interest rate.
  3. Be aware of the balance owed and interest charges.
  1. Limit the number of credit cards.
  2. Pay cash as much as possible in order to limit the use of credit cards.
  3. Consult a professional to develop a reimbursement strategy that meets your budget.
How to pay off your credit cards?

If the amount to pay on your credit cards is bothering you, we would be happy to help you and reassure you. Since there is a solution to all financial problems, our role consists of finding the one that suits you in order to implement it and free you of your debts.

Other credit card impacts
  • The total balance of your credit cards is taken into account when you request a loan from a financial institution or other lenders.
  • Poor use of credit cards could have an impact on your credit report.
  • The credit company could require total reimbursement of your debt at any time. While such measures are rarely taken, they are still possible.

Why pay attention to credit card interest rates?


If you have several credit cards and you don’t pay off your balance each month, your purchases may be more expensive than you anticipated. Accumulating interest charges may increase the balance and your debt level.

You can figure out the amount a purchase will cost you if you only make the minimum payment on your credit cards. In just a few seconds, our interest calculator will show you the real cost of your purchases.

0 +
satisfied clients
0 + offices
in Ontario, Quebec & New Brunswick
0 + years
of service in the insolvency sector
0 %
acceptance rate of our consumer proposal

Need advice?

We will reply within 24 hours or on the next business day.

  • This field is for validation purposes and should be left unchanged.