Why Canadians debt is so high?
Why Canadians debt is so high?
A broker just told me she did a mortgage consolidation for a young couple who had 3 Citi bank cards with $30,000 balances! That's $90,000 at 22% now that's crazy yet the government has not thought to limit the unsecured credit allowed from one credit card company! Now when will they go after the non bank credit card companies that continue to give their clients higher and higher limits just because they can make their minimum payments. You wonder why our Canadians debt is sooo high...Stop blame it on mortgages! at least they have a home...Bank should qualify those credit card applicants before they issue them a card or they should simply limit to 1 card per person!
A broker just told me she did a mortgage consolidation for a young couple who had 3 Citi bank cards with $30,000 balances! That's $90,000 at 22% now that's crazy yet the government has not thought to limit the unsecured credit allowed from one credit card company! Now when will they go after the non bank credit card companies that continue to give their clients higher and higher limits just because they can make their minimum payments. You wonder why our Canadians debt is sooo high...Stop blame it on mortgages! at least they have a home...Bank should qualify those credit card applicants before they issue them a card or they should simply limit to 1 card per person!
Tina Mak Personal Real Estate Corporation
Your Vancouver Radio Realtor
(The Bridge from East to West since 1992)
#1 Female Agent since 2002 @ Coldwell Banker Westburn Rlty
President of AREAA Vancouver
Canadian Ambassador of Coldwell Banker 2011
Co-host of AM1320 Radio Investment Show
International President's Circle Award
Gold Master Medallion Award in Vancouver Real Estate Board
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Email: tinamak@tinamak.com
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