A credit card is a financial tool that can benefit the user’s financial profile if used properly. The decision to use credit cards or not is based upon a multitude of factors that are unique to the individual. But many people have unanswered questions that prevent them from applying for a credit card.
If you are in the market for a property, one of the determining factors to get approved for a mortgage is a credit score. Sure, you need a down payment, and income but a credit score shows lenders how you manage credit. Without an acceptable credit score, getting a mortgage will prove to be a challenge. Here’s what you need to know about your credit score in order to get approved for a mortgage in Canada.
If a home loan is not approved on the first try, it pays to apply with another creditor that will be open to saying yes. There are countless lenders that offer mortgages specifically for buyers with bruised credit or other financial situations. All borrowers should know their credit score in advance so they have an idea of their chances for approval.
We’ve prepared this guide to answer the most common questions we hear about personal loans. Alongside our lender comparison charts, after reading this you should have all you need to get started with your application!
Debt can be crippling. Perhaps you are sick of being burdened by credit card balances. Maybe everyday expenses have become overwhelming. Whatever your reason, debt repayment is possible even if challenging. It also is quite rewarding. With debts increasing every day and Canadians everywhere facing this problem, we’re here to provide some insightful information for getting out of debt smoothly, swiftly and safely.
The end of the year is a great time to do some reflection and clean up your finances to prepare for the new year. We’re wrapping up a decade, and the future is bright. You’re wiser, smarter, and older. 2020 can be full of possibilities if you plan for them! Here are a few ways to get clear on your goals and set up your finances for the new year.
Stiff competition among lenders has made negotiating better credit card terms much easier. Many cardholders do not approach their issuer to ask for a credit limit increase, fee waiver, or lower interest because they assume the terms they agreed to can never be changed. However, there is room for renegotiation. Most banks are willing to change credit card terms, but the only way to know for sure is to ask.
Sacrifice and discipline are the main elements needed to break any nasty habit. When it comes to finances, it is also helpful to focus on the future consequences while working on developing healthy habits. Creating and setting good practices in place of the bad ones can be a challenging but proactive way to turn things around.
Small business owners just starting out may think a company credit card is unnecessary. But even new companies can receive benefits and perks, along with expense management, to help the business to grow. Over time, building good business credit becomes a calling card to opportunities that produce the leverage needed to advance a small business into a thriving empire.