The holidays and your credit balance

'Tis (almost) the season to be jolly! Have you started your Christmas shopping yet? One for mom, one for dad… and don't forget your friends! If you plan on purchasing gifts with credit, the following tips should be helpful.

To defer payment on all these purchases, most people put them on their credit card. When the outstanding balance is not paid off in full, this is called credit debit. According to Statistics Canada, in 2001 almost 50% of Canadians from 25 to 44 years of age had this kind of debt.

Protect your credit balance

Are you one of these people? If the answer is yes, Credit Balance Insurance may be the thing for you. It will make your credit card payments in the event of:

• death or dismemberment.
• disability.
• critical illness.
• involuntary loss of employment.

Advantages

• Provides complete coverage Coverage: Protection offered by an insurance policy in exchange for the payment of premiums.   at an affordable price, if you have no insurance to cover your debts in case of the unexpected.
• Protects your credit rating Credit rating: Record of your financial reputation, in particular your ability to repay loans, published by a credit bureau. Financial institutions use your credit rating to assess the risk of lending you money. , regardless of what may happen to you.
• Cost of coverage is calculated every month based on your Desjardins VISA monthly balance. If that balance is zero, the cost is zero.
• Easy enrolment because no health or financial status questions will be asked; however, exclusions may apply with respect to pre-existing medical conditions.

Find out more about Credit Balance Insurance