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TD charges interest on interest for personal credit card customers

Financial Literacy Education

This week Global News’ Erica Alini reported that TD will start charging compound interest on all its branded personal credit cards.  In other words, TD will be charging interest on interest.

Click here to view the article to learn more.

Today, its more important than ever that credit consumers be cautious of the overall cost of borrowing. The overall cost not only impact your immediate but also your long term budget. And the real cost of purchases over time. For Canadians already facing difficulties managing their finances or having an unexpected change to their income levels, controlling credit card debt is a key priority.

If you or someone you know needs support or some friendly advice, contact one of our accredited and certified, not-for-profit/charitable credit counselling members.  Click here to find a credit counsellor near you.

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