What Is Credit Score?

We don’t always have cash on hand (or available at the time) to make big or small purchases, which is when credit comes in handy. Your credit score sums up your financial behavior, and tells financial institutions (banks, private lenders, credit card companies) how risky of an investment you are. The level of risk, determines what type of credit you can get in Canada, from a mortgage all the way down to payday loans. A score stays on your bureau for 6 years in Canada, but every day is another chance to improve upon it and wipe out bad credit.

 

How Does Your Score Affect you?

Have you ever been denied for a credit card? It’s likely because your score was too low. A low score can affect your ability to buy a home, rent an apartment, lease a car, get a job, and much more. It also determines what conditions (like a cosigner) and interest (high or low) you will get on any credit you apply for. If you have a history of paying lenders on time and managing your debts responsibly, you’ll have a high score! If you don’t have a history at all, or if you have a low score — it will be hard to get lenders to trust you.

 

How Can We Help You?

We’re here to help you take advantage of everyday opportunities to improve your score. Our staff have over a decade of experience working with credit unions, and will ensure your progress is reported accurately. Building credit takes time, which is why you should start today. Call us for a free consultation, or apply here, and one of our dedicated members will reach out to you within 24 hours to discuss a personalized plan to meet your financial goals.

 

Requirements

  • 18 years or older
  • Valid chequing account

How Does it Work

CR-approval

CR-consistency

CR-improvement