Credit Building

Your credit can do a lot for you if you know how to use it.

Why Your Credit Score Matters

And it truly does. Your credit score can mean the difference between buying a home (or not) and in some cases, even getting a job.

The Power Of Your Score

So what’s the big deal about credit scores and why are credit scores important? Well, the big deal is that your credit score communicates a lot about you to very important people, such as:

  • Banks and credit lenders
  • Insurance companies
  • Potential employers
  • Retailers
  • Landlords 

How To Improve Your Score

What Does Your Score Mean For You?

Your credit score can determine whether or not you get:

  • A job offer
  • Approved for a mortgage
  • Approved for a car loan
  • A rental apartment in an area you love
  • Competitive insurance rates
  • A cell phone contract
  • A credit card, line of credit or bank loan

That’s right, three digits in the range of 300 to 900 can determine the options you have for those things that are most important to your daily life!

Good Money Habits = A Good Credit Score

Repayment Habits Are Crucial for A Good Credit Score.

Where Do You Fall On The 1-9 Scale?

In your credit report, each credit item will have a letter and a number. The letter describes the type of credit item it is, like a mortgage (M) or revolving/recurring credit (R), which includes credit cards. The number tells people looking at your credit report how timely you are paying those items. Your lenders will rate your accounts on a scale from 1-9 indicating whether or not you’re paying those items as agreed to, and to what extent.

It’s important to pull your credit report at least once a year to know where you stand, credit-wise, especially when you consider how much power your credit score has over major events in your life, such as buying a home, a car, or paying for your education.

You can contact Equifax or TransUnion to get a copy of your credit report, but it typically doesn't include your credit score. In some cases, you may have to pay extra for that. Or you can get your credit score for free during a free Credit Building Counselling Session with us.

Got My Report. Now What?

If you have a recent copy of your credit report and there are credit items that are either in collections or you're having difficulty paying, you can fill out our Free Debt Assessment form or call us 1.800.267.2272 to book a free counselling session with one of our certified Credit Counsellors.

They will review any debts you owe, as well as your monthly expenses, and then discuss different options you might have depending on your financial goals — whether it’s getting rid of your debt, improving your credit, buying a home within a few years, or all of the above.

Quick Tips on How To Build Great Credit

  • Pay all your bills on time!
  • Review your credit report at least once a year. If it contains incorrect information contact Equifax or TransUnion directly and notify them immediately. 
  • If you have missed payments, get current and stay current. Even making minimum payments is better than no payments.
  • If you have accounts that are in collections but you can start making payments towards these accounts, make sure you contact your original creditor(s) and ask them to pull your file back.
  • Don’t bounce cheques! Your bank can report this information to credit bureaus.
  • Pay off debt rather than shift it to other accounts.
  • Don’t apply for too much new credit in a short amount of time. 
  • Apply for a secured credit card. A secured credit card is a credit card you make a deposit on, with your own money, before you start using it. 

We Offer Free Credit Building Counselling!

Our certified Credit Counsellors can give you the custom advice you need to start building your credit and increasing your credit score.

Why Get Credit Building Help?

No matter where you're headed in life, chances are, you'll need the credit to get there. Our credit building counselling is designed to help you build your credit so you can achieve your goals.

Millennial Couple Celebrating After Completing a Credit Building Program

So, What's Included?

  • You'll work one-on-one with a certified Credit Counsellor who will teach you how to:
    • Access your free credit report from Equifax and TransUnion.
    • Access your credit score.
    • Understand your credit report.
    • Manage and prioritize debt to increase your credit score.
    • Sign up for a secured credit card to start rebuilding your credit.
    • Manage your budget to effectively pay off debt.

Start Building Your Credit Today!

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