The revered credit score is one of the most important factors lenders consider when you fill your mortgage application. Three magic numbers that can be the difference between owning your dream home and having your application turned down. But despite the revered status accorded to the credit score, it is not a figure that’s set …
What is the Minimum Credit Score for Mortgage in Canada? Read More »
Your credit payment is considered late if it was received after the due date or if it is less than the least amount due. Late payment can be a tad bit disturbing as nobody wants a late payment they made years ago to bring their credit score down when they need it the most. Missing …
How One Day Late Payment Affects Your Credit in Canada Read More »
A credit score is a number that reflects the more detailed information found in your credit report. There are two major agencies in charge of compiling the data that makes up a credit score; TransUnion credit score and Equifax. These agencies keep tabs on your spending habits, loan history, and credit card usage, converting all …
To determine creditworthiness, a borrower undergoes an assessment that measures the requirements of a financial obligation and debt. This quantitative measurement is known as credit rating. This quantitative assessment is attributed to any entity that is looking at borrowing money such as a person, a corporation, a government, a state, or provincial authority. Organizations that …
Canada has a credit score range of 300 to 900 points, with 900 being the highest score you can get. What a bad credit score is, strictly depends on who’s asking and why. However, any credit score that is less than 650 is generally not considered a healthy score. At that credit score range, lenders, …
A credit score is a three-digit number that’s an indicator of your financial status and creditworthiness. The lower your score, the lesser your chances of getting a mortgage, personal loans, or your dream job hence the need to have an excellent credit score. Maintaining an excellent or good credit score might seem like rocket science …
How to Maintain an Excellent Credit Score in Canada Read More »
Understanding credit cards will give you insights into how it works and how your issuer handles your finance and account. Credit cards come with credit scores, credit balance, credit limits, etc.; these all sum up what a credit card comprises. Your credit card balance is essential when it comes to filing your credit report as …
Negative Credit Card Balance and Your Credit Score Read More »
Are you thinking of checking your credit score to know your financial options? Credit Karma Canada provides a free credit score and credit report online. Although various web-based credit report service providers exist, most of their results do not match lenders’ information to determine your financial status. You probably wonder how a free-to-use service like …
Many people from different parts of the world try to avoid being drawn into the dangerous web of financial debts. one common way to avoid this is the use of a credit limit. Credit cards offer a superb way to organize your expenses and live within your budget. We often go above our means either for …
Credit Limit Demystified: How It Works in Canada Read More »
You can rebuild your credit by making timely payments and removing late payments from your credit reports. Credit scores show if you’ve made timely payments or not. Late payment brings your credit score down. A late payment stays on your credit report for seven years. This will hinder your ability to get a loan and …
How to Dispute Late Payments and Improve Your Credit Score Read More »
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