The APR of 29.99% is calculated from the cost of the product and services. The APR and payments are for a finance loan based on a 24 months term with equal bi-weekly payments. The finance loan can be repaid and closed at any time without any extra fees or penalties. Extension of credit is based on the credit guidelines of the third party program finance company. Prior to completing and signing the finance and program agreements please read the documents, terms and conditions carefully. Should you have any questions please ask your Credit Specialist or obtain legal advice prior to signing.
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What you need to know about repairing your credit, credit report, credit rating and improving your credit score on your Equifax and Transunion credit Bureau in Canada.
Many people ask “how can I fix my credit report” or “How to fix bad credit rating”. Often people will apply for a secured credit card, sometimes they will get a secured Visa or a secured Master Card. Getting secured credit cards to show upon your credit report is very important if you want to increase your credit score. Most credit bureaus in Canada such as Equifax and Transunion, will increase points on your credit score for each secured credit card or unsecured credit card you have showing up on your credit report. Each month you make a payment to your credit card will help improve your credit rating and credit score. Unsecured debts and secured loans such as car loans and lines of credit are also helpful if you are trying to improve your credit fast. These debts are called installment loans and will typically show up on your credit report with both Equifax and Transunion. The credit bureau will often report your good credit and bad credit so it is important that you pay your bills and make your payments on time. This is important to both insure you increase your credit score, credit rating and avoid having bad credit. Credit scores in Canada are often referred to as Beacon score or Fico score. What people also may not know about credit score improvement is that TransUnion and Equifax will almost always report a different credit score on your credit reports in Canada.
Another fact about credit reports in Canada is the Credit Bureau. The Credit Bureau of Canada is actually a collection agency that collects bad debts. Many Canadians assume that they are a credit reporting agency like Equifax or TransUnion. Although that being said a credit bureau is simply another name for a credit report in Canada.
Getting credit and re-establishing credit after bankruptcy is often a difficult task. We recommend that rebuilding your credit rating properly, after you have filed a consumer proposal or bankruptcy is very important and we encourage various things to help improve your credit report. Firstly, it is important to remove errors on your credit report which often may occur before, during and after a bankruptcy. It is your responsibility to insure that the information on your credit report is accurate. Often there will be errors on your credit report and many people ask…. “How do I remove errors from my credit report” or “how do I fix my credit rating after a bankruptcy”. It is imperative that you immediately insure that both Equifax and Transunion receive a copy of your bankruptcy discharge certificate and that your bankruptcy discharge is being reported properly. Before applying for auto loans with bad credit, or credit cards with bad credit it is imperative that the credit errors on your credit report are fixed and all of your old bad credit debts have been settled. Fixing your credit report first will often help you get better rates on your car loans and your credit cards. Getting better interest rates with bad credit can be tricky but will save you thousands of dollars, especially when it comes to auto loans or mortgages in Canada.
Getting auto loans with bad credit, getting mortgages with bad credit and credit cards with bad credit can prove to be tricky if your credit report and credit score are not up to the Canadian bank lending standards. Fixing your credit and improving your Canadian credit score is easy with the new Canada Credit. The credit repair Application will make it easy for you to dispute your bad credit or errors on your credit report. You need to remember that this credit repair system is designed to help repair mistakes that show up as bad credit and insure that items on your credit report are reporting properly. Many Canadians want to know “how long does bad credit stay on your credit report?” If you have bad credit as a result of not paying your debts, most of these items will stay on your credit bureau for 6 to 7 years in Canada. Paying your bad debts is step one if you want to improve your credit fast. The fastest way to improve your bad credit is to deal with all of the incorrect items on your credit report and pay off all of the bad debts. Credit repair and debt settlement are both processes that will improve your Canadian credit report if they are done properly.