Tag Archives: rebuilding credit

Tips To Overcome Poor Credit

It would be amazing if we could pay for everything we want and need with cash, right? We could avoid credit disputes and poor decision making. Unfortunately, we can’t always pay with cash. But, when you have poor credit this makes things far worse. When you’re short on cash, and have poor credit you’re placed into a burdening financial dilemma, because you have nothing you can lean on when something unpredictable comes up. This is bad. However, you don’t need to let your poor credit control your life. You can overcome it and recover.

Mistakes are made by everyone–no one is perfect and very few have perfect credit. If you’re recovering from a credit catastrophe, wait for the dust to settle before you panic. And if you’re still dealing with outstanding delinquencies, set up a payment plan and stick to it. Consider ways you can begin growing your credit worthiness again once you begin credit recovery.

Overcoming a History of Poor Credit


Don’t let poor credit hold you back when there are ways to overcome it. Of course, it’s not the healthiest situation, but this can happen to anyone. Don’t beat yourself up and don’t feel like it is the end of the world. While it takes a great deal of time and determination to overcome a poor credit history–building a positive financial history can begin to help. There are a number of ways to push past these circumstances. If you have held a full-time job for a long while and have consistently paid utility bills on time–this looks good to creditors. Here we are going to give you some strategic advice and tips to put into play to get back on your feet again. Poor credit isn’t the end of the world, but if you keep making the same decisions that led you into it, you’ll never get out from under it.

Many Canadians with poor credit turn to a secured credit card as a means to begin turning things around, but it takes time. Just because it’s your own money your putting on the card and spending doesn’t mean you don’t have to follow traditional credit card requirements. For instance, you don’t want to spend more than 30% of your available balance and you do want to pay off the balance every month if possible. Over time this can begin to improve your credit and get you back on the right track. There are several other ways you can improve your credit profile!

Tips to Help You Recover from a Poor Credit History



Canadians are probably more than aware of the importance of credit counseling to raise their credit score. You have to be wary here though because there are always scam artists just waiting to take advantage of someone. But, many people with burdening debt try to clean this up on their own and make mistakes doing so. Only a credit counselor can tell you what to work on, what to wait on and what to ignore. Too many Canadians work hard to improve their credit. They shouldn’t have to worry about doing it the wrong way, and they definitely shouldn’t have to worry about scam artists either.

The best advice to be given here is to do the best you can. Show creditors you’re trying to get on top of your debts and you’re working as much as possible to pay off debt too! From this moment on, always:

  • set up a plan and stick to it
  • pay bills on time
  • don’t overwhelm yourself
  • don’t make arrangements you can’t stick to
  • keep working to improving your credit worthiness despite possible slip ups
  • don’t have a higher debt to income ratio


5 Proven Tips To Raise Your Credit Score In 2016

Improving credit

That credit score is everything, isn’t it?  For so many Canadians, it is like a ball and chain, forever holding them back from lower interest rates and better financing opportunities in general.  Your credit score can keep you from landing a great job.  Now, while this doesn’t seem fair, it’s just how things work in some parts of the world.  Within Canada, and all across British Columbia–a poor credit score certainly spells disaster. While it isn’t easy to get that credit score raised, there are now new and guaranteed ways of doing so.  You can allow 2016 to be the year you’re willing to put forth that 150% effort.  Once you get your credit score healthy, you’ll be amazed at the rewards and benefits which come your way.

Those with the best credit scores are awarded low interest rates, exceptional mortgage loans, great car loans and so much more.  There are even more perks to discover when you get that score in check, but remember, it didn’t get poor overnight. This means: don’t think you’re going to see a transformation in 24 hours either.  However, if you follow these tips you’re going to make headway and reach your goal faster.  So, let’s get started!

Tips You Can Rely On To Raise Your FICO Score In 2016

man in suit showing a signboard with the different ranges of the credit score: excellent, good, fair and poor


Now, if you’re looking for some immediate relief, there are three tips that are outside of those traditional moves that enhance and improve your FICO score overtime.  You might know about this and you might not, but we did think they were worth sharing. The first of these three is all about how you are using your credit.  You should never exceed more than 40% of your available credit limit, and if you do, you should at least pay half of the balance due at the end of every month.  Also, if you have other credit cards, this will open up more credit for you, and if they are used wisely you’ll build up a solid credit history. Just use them for what they are intended for–improving your FICO score!

Another quick fix is checking your report for errors.  Many Canadians have errors on their credit report, and many don’t even know about it.  This can happen from identity theft, to a charge-off, to a simple clerical error.  You can always dispute an item on your credit report and give your side of the story.  Further, if you see small items that need paid off–why not do it? There are so many walking around with items on their report that could easily be improved.  You have to put in the time and effort if you want to improve your FICO score quicker than normal!

5 More Common Tips Toward Raising Your Credit Score

Clean Credit

Remember, those tips mentioned above almost always raise your score 2 to 3 points, but the following strategies take a bit longer and a little more work.  Let’s get started:

Tip 1: Pay more than what you have to on any credit card or loan payment you might have

This illustrates a trustworthy consumer.  Professionals will view you as someone they can have faith in and who is more than honest.  You’re depicted as someone who takes their debt seriously.

Tip 2:  Pay off your card with the highest credit limit

If you’ve used more than 50% of the credit on a specific card, and it happens to be a high-end one, do your best to pay it off totally.  This kind of habit shows that you’re not living on credit, but only building up your credit.  In other words, lenders will see you have disposable income to pay your debt.

Tip 3:  Sign on as an authorized user for your dependents

If you have a teen who is attempting to build credit, signing with them can not only help them build credit, but it can help you repair your own minor mishaps.  As long as they are responsible, and pay their bills on time, this will bring some positive reinforcement for your own credit.

Tip 4:  Did you know you could make more than one monthly payment on your credit cards

Yes!  You can pay twice, or even three times a month if you want to.  The more you pay on these forms of debt, the better your credit report will look.  Don’t place yourself under financial duress to meet a goal like this, but if you can–definitely do so!

Tip 5:  Try to get rid of unpaid collection items

There are more Canadians who are facing FICO drops due to issues like these versus late payments and only paying minimum payments on debt.  If you can find a way to consolidate collection debt it might help you get rid of it sooner, thus improving your score.

If you follow even just a few of these tips you’ll see improvements in that FICO score sooner, rather than later!  Make 2016 the year you begin tackling debt and getting your finances on track.






Learn 5 Reliable Ways To Improve Your Credit Score

Keeping your credit report tidy and organized is critical to your financial portfolio.  You don’t want to sweep financial errors under the rug as you would a dust bunny.  Instead, do your very best to pay off debt before it escalates and tarnishes your financial future.

improving your credit score

Have you been searching for reliable ways to improve your credit score? Today, your credit score is everything.  This impacts your ability to purchase a car, buy a house, get a credit card, apply for a loan and so very much more.  If you’ve made mistakes in the past and this has adversely affected your credit score, you’re not alone.  There are many Canadians across British Columbia who are struggling to rebuild their credit and diligently seeking reliable ways to improve their credit score.

You CAN improve your credit score with the right strategy.  One of the first ways Canadians can begin making a dent in debt and improving their FICO score is by minimizing their risks for being late paying ordinary bills.  That’s correct.  Late payments on bills can stack up against you badly, leaving you digging your way out of the hole.  So, establishing priorities and paying your bills on time will begin moving you in the right direction.

Canadians also need to acquire a recent credit report to view payment history and to discover what accounts might be negatively impacting their score.  It’s important to maintain and manage your credit once you begin to understand how it all works as well.  For instance, reviewing your credit report at least once a year, just to ensure the most accurate information is listed is absolutely necessary–specifically when you’re trying to repair poor credit history!

Now, it’s time for you to find the five primary ways you can enable yourself to start bringing that credit score up and improve your financial portfolio once and for all! Don’t continue to trip over your shoe-laces and ignore the importance of a clean financial history and don’t continue to live above your means! There are times you must learn to walk before you can run!


The Top 5 Reliable Ways To Improve Your Credit Score

Never forget the importance of ensuring their are no mistakes on that credit report as these can be extremely damaging.  42 million Canadians across British Columbia have errors on their reports, with approximately 12 million of these same Canadians suffering adverse credit scoring due to errors. You don’t want to be a part of these statistics, so please follow the advisement given earlier–it will make a difference.  You can also polish your damaged credit by following the very latest tips listed below, but do give it time. Your credit didn’t reach a state of disarray overnight so allow for patience and commit to improvement by making smart financial decisions daily.

  • Correct small discrepancies in your credit report before they become large
  • Pay attention to identity theft risks and ensure your identity is protected 
  • Pay credit card bills on time to build positive credit
  • Make certain corrections on your credit report are followed through with all three bureaus 
  • Limit credit inquiries on your report as most stay on for at least two years