24 ~ Sunday, October 23, 1988 - North Shore News BUSINESS Test your understanding | ; of credit card charges Q. IN CALCULATING interest charges, a credit card company first subtracts your payment from the balance shown on the monthly statement and bases the interest charge on the remaining balance. True or False? A. False. For cards issued by financial in- stitutions and most oil companies, interest is calculated on the daily - balances that are reduced as of the day of payment. Accordingly, in- terest charges up to the payment date are based on the full outstan- ding balance. Most major retailers subtract payments that are 50 per cent or more of the outstanding balance before calculating monthly interest charges, Q. By using a credit card to make a purchase, you have free credit for the period between the date of purchase and the payment date of the following monthly Outlook investigated From page 23 and business plans. Regarding the legendary ‘‘in- visible ceiling’? holding back women active in the corporate culture, she says: the ceiling can come down to an insufficient team player network. Said Litton: had time to build up the cheerleaders. Also if you don’t know how to effectively lobby in the marketplace, you will run into problems.’’ But she found: that some people, particularly in small towns, don’t take women in business seriously. “The key is to be highly visible and keep yourself accessible. Litton will be leading a day-long business strategy session at North Vancouver’s Delbrook Community Centre in the Cedar Room, Satur- day, Nov. 5, 10 a.m. to 4 p.m. Topics to be covered include fast-tracking from the basement, managing time, communicating with your banker, making the shift from craftsman to marketer. To reserve a space call 985-9300. wkeeaek ODLUM BROWN investmen: management services will be holding a discussion’ on the current investment outlook and how pro- fessional management fits into the scheme of things, Wednesday, Oct. 26, 7:30 p.m, at the West Van- couver Recreation Cenire, 780- 22nd St., in the Maple Room. Scheduled to speak are Tony Hepburn, president and CEO of Odlum Brown Ltd., Murray Budd and Bi DuMoulin. For more in- formation call Katherine Parker at 669-1600. CANADA XZ THE L9MB/AD ISSUE OFFERS: @afety Guaranteed by the Government of Canada Isceme Guaranteed minimum annual tate of interest Ligatdity Easily cashed for face value (plus accrued interest after fanuary 31, 1 nus RW Ivestor , OFFERS Easy parchase or of CSBs by felephone. Delivery by certified 1. PmSromsation ail. ne on al current and ou landing CSB issues, comuminclecs charges. Stephes L.A. Bark, B. Comm. (604) 685-1381 For more information, cal! (collect) today ““Women haven’t- statement. True.or False? A. False, except if full payment is made by the payment date. Most financial institution card - holders will be charged interest calculated from the date of pur- chase to the date of payment of the account balance. For most other credit cards, in- terest does not accrue until the date of the monthly account statement. .Q. If you pay off a credit card balance by the payment date, you avoid further interest charges until you use the card again. True or False? A. Not necessarily true for fi- nancial institution cards. True, for most other credit. cards. For most financial institution card holders who have a carry-over balance from the previous month and who pay off the full balance, an interest charge will appear on the next monthly statement. This interest charge corresponds to the. interest — up to the date of pay- ment in full — on the portion of the balance that had been carried over. Q. A credit card with a lower in- terest rate will always cost less than a credit card with a higher interest rate. True or False? A. False. Higher interest rate cards are often more advantageous in other aspects —- such as non-interest charges, grace period or date from which interest is calculated. Ac- cordingly, a high or low interest rate card may involve the least cost. Q. In terms of cost, the major credit cards are very similar. It . doesn’t make much difference which one you use. True or False? A. False. There are major differences among the credit cards available to Canadians. For more information, obtain a copy of the publication entitled Credit Card Charges, from your local Consumer and Cor- porate Affairs Canada office. Over 65 Years Old? INCREASE YOUR INVESTMENT INCOME BY UP TO 50% PER YEAR! (and more) and... while... minimize your income taxes receiving secure, consistent income For your free personalized illustration, (without obligation) return this reply section or contact: Alan Birtch ; Odlum Brown Financial Services Limited ial ANNUITIES e NAME ADDRESS._. PHONE_____. * Call Walwyn for a no lineup, paperwork free purchase of your 1988 Canada Savings Bond. «Just phone, we automatically deliver your bond lu you. * Our booklet, "The ABCs of CSBs", is complete CSB information, free upon request. + Pay no extra service charge or commission for all this service. Walwyn Stodgell Cochran Murray Limited Wesee thines differently. ROD CLARK 1800-609 Granville St. UM Vancouver, B.C. V7¥ 1A3 TOWN (604) 669-1600 RRIFS e INSURANCE Call 669-6262 1055 West Georgia Vancouver Drvespment Secuntes abject to change, without ‘notice “GIO: = interest Pald Ani al BK Semimar for people who are concerned akoul managing their imvestmenis Conducted by Odiam Brown "As President and C.E.O. of Odlum Brown, I am: often approached ky people who are concerned about managing: their investments in their retirement years. Fn 1esponse to these concerns, Odlum Brown has developed hivestment Management Services,” Tony Hepburn . For aver 50 years, Odlum Brow. nas been serving the - investment needs of people in B.C. Now, Investment:" | _- Management Services can help you with the complexities of today’s investment market by offering you professional : management. . Please join us for a discussion on today's investment ° outlook and how professional management may benefit you. Date: Wednesday, October 2t' Time: 7:30 p.m. Location: West Vancouver Recreation Centre For further information and registration call Katherine Parker at 669-1600 iN os re Qalum Odlum Brown Limited own 1800-609 Granville Street Vancouver, B.C. V7¥ 1A3. _ DEEB ALEESA Mr. George Ghatias, General Sales Manager of Plaza Lincoln Mercury, is pleased to announce the appoint- ment of Deeb Aleesa as Fleet and Lease Manager. Deeb extends a warm invitation to his friends and many customers on the North Shore, to take advantage of our successful Grand Opening Specials on the fine Linccin, Mercury cars and Ford trucks. Call Deeb at 986-4291 1695 MARINE DR., NORTH VANCOUVER