Preview of the Tool

Québec edition


What is Credit?

  • Credit refers to money that is loaned to you for a cost (interest).
  • There are many different types of credit, including car loans, bank loans, mortgage loans, credit cards, and loans from friends and family.
  • Make sure you can afford to pay back the money and interest.

Before using any type of credit or loan, make sure you know the:

  • Monthly payment amounts.
  • Interest rates.
  • Length of the loan (the number of months or years it will take to pay off the loan).
  • Late payment penalties.
  • Fees for going over the limit.
  • Total cost of the loan (including interest and all fees).

QC - Credit and Debt Management


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National Initiative for the Care of the Elderly (NICE)
246 Bloor Street West, Room 234
Toronto, Ontario M5S 1V4, Canada