What does your credit score mean?
Basically, a credit score is like a report card for your finan. Each purchase you make on credit affects a 3-digit score set between 300 and 900. The higher your score, the better your financial reputation. When talking about your credit score, you may hear people call it FICO or Beacon report. But they are all…
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Know what you’re getting yourself into when it comes to your credit card!
When you sign up for a credit card, you are signing up for a lot of responsibility. It’s easy to say “make sure you read your credit card agreement” but the fact of the matter is, a credit card agreement isn’t simple to understand. I believe they make it hard to understand so that you…
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Re-establishing Credit After Bankruptcy
People often express concern over the affect filing bankruptcy will have on their credit score, as well as their ability to re-establish credit after filing bankruptcy. The answers to these questions can be somewhat complex, depending on the circumstances. One thing is for sure, people contemplating bankruptcy frequently have low credit scores to begin with. Therefore,…
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Starting Over After Bankruptcy in Ontario
Bankruptcy gives you an opportunity to get a fresh financial start. Having a bankruptcy on your record can cause problems if you need to apply for loans, mortgages and other financing. Though the impact of bankruptcy on your credit report and credit score can last up to 10 years, you can improve your scores quicker…
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How do I get my credit report?
When it comes to requesting your credit report, the two largest credit-reporting agencies in Canada are Equifax and TransUnion. The way your credit report works is, these agencies receive information about you directly from your credit grantor, which is based solely on that grantor’s experience with you. This information is then compiled by the Agency in a credit report…
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