Credit Score

Information relating to your credit score, how it's calculated and how it is used. Also tips on how to improve your credit score.

What Information Is Contained In My Credit Report?

Information on your credit report in Canada falls into the following general categories:

  • Identifying Information - Your full legal name, address, and date of birth
  • Credit History (Trade Lines) - comprehensive history about your credit utilization
  • Public Records - Judgments, bankruptcy, consumer proposal
  • Inquiries - Are you applying for credit often?
  • "Other Information" - Bank account overdraft, Collection Activity

Read about the information the credit bureaus collect about you, how it is used and interpreted by your creditors when considering applications for credit, and how you can control and update incorrect information.

Tips and Tricks for improving your credit score

Improving your credit score is something that can be done with a few simple steps.

First lets look at the biggest factors that impact your score:

Payment history
  • A clean record of on-time payments per your credit agreement will help boost your credit score.
  • Falling behind on your payments or soon to be falling behind? Contact us before it's too late!
Outstanding debt
  • If you have used over 50% of your available credit you may harm your credit score! If you are concerned about your credit score try to keep your balances under 30% of your available credit.
  • Learn about debt reduction options - we offer free consultation and could give you strategies to imrove your credit worthiness

Credit Reporting Act - Know Your Rights And How To Protect Them!

The Credit Reporting Act protects several rights of the consumers in Canada:

  • Who can access your credit report and do they need authorization to pull your credit bureau?
  • You have the right to place a statement on your credit report - we can show you how.

Learn about your rights and privacy when it comes to the information contained in your credit report.

Your Credit Score - What is it? and how is it used? (Beacon® Score)

The credit score is a number between 300 and 850 that lenders use to determine your credit rating. The credit score is a snapshot of your credit rating at a particular point in time. The higher your credit score the more likely you are to be approved for loans and receive favorable interest rates. The lower your credit score the higher your chance of being declined when applying for credit.

WHEN you are preparing for a major purchase, like a home or vehicle, make sure you review your credit score and report. Looking at your credit report and score some time before your loan application will help you get a complete picture of your credit worthiness. If you have a concern regarding your credit score or credit worthiness please do not hesitate to contact us.

How Credit Bureaus Collect Your Information

There are 3 main credit bureaus in Canada and they all get information from similar sources, mainly you, and from the companies and banks that you do business with. Read about the information they collect and how they collect it. Anyone who is concerned about their credit should read this section about the collection of information on the credit bureau report in Canada...

Syndicate content

Another Successful Debt Settlement...

I must say that I always ‘do my research’ in every area of life as best as I can so that I make the right purchase the first time. Well, this was not an area I was even remotely able to make a definitive call on since my wife and I never had any previous debt issues.
I researched and met up with many different Debt Resolution/Debt Solvers and tried to work with making monthly lump payments but it wasn’t the correct solution and in the end failed for us. I started researching into solving our Debt problems all over again when I came upon the idea of Debt Settlement…that was the correct solution and something my wife and I should’ve done the year before. The problem was who could we trust to do it and who was the best person for the job. That was our newest problem.
I started making calls and looking up as much information as I could get on the Companies that did this and I was confident that Canada Debt Settlement were the tops in this area so I called and spoke to Boaz. I was actually somewhat shocked as he had answered my questions and explained the way it worked so well I had no more questions the next day. This was a relief as the time frame for us was very tight and to this day I am amazed that everything was settled going right down to the wire on our tight schedule and that Boaz still managed great savings for us in the process. It pulled us right out of debt and had we called Canada Debt Settlement the year before we would’ve saved even more and not carried that Debt burden unnecessarily for an extra year.
If you’re doing your research looking for who is the right one for the job, I can honestly tell you save your time and money and go with Canada Debt Settlements. I would be happy to talk to anyone that has any uncertainty as the expertise and hard work Boaz did for us was truthfully incredible.
S.B. of Mississauga
Received Dec 23, 2013 via email
Total Savings: $18,000+

Call now for your free no obligation consultation 1-877-475-3939