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Credit Basics 101 – Equifax and TransUnion

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10 August 2022

EquifaxEquifax is the dominant reporting agency in the western region of Canada and most banks rely on Equifax in making their credit decision. Equifax reports all the credit that you have and how it is paid...

Credit Basics 101 – Types Of Credit

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13 July 2022

Types Of Credit It is important to understand the different types of credit, how they report, and how they impact credit score. There are four major types of credit: installment credit, revolving credit, mortgage credit, and...

Credit Basics 101 – In-House Financing

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28 June 2022

In-house financing refers to when you purchase a vehicle and the dealer lends you the money for it. Essentially, the dealer becomes the lender. Although this may be handy in some instances as the dealer will...

Credit Basics 101 – Secured or Unsecured?

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18 May 2022

There are two ways to obtain credit. When you apply for a home and are approved, the lender secures the loan with the property you have purchased. This means should you default, the lender has the...

Credit Basics 101 – Auto Lenders in Canada

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5 April 2022

There are two main types of auto lenders in Canada, prime and sub-prime lenders. Although they fall under only two umbrellas, they all have different types of customer profiles that they prefer to approve. Prime lenders...

Credit Basics 101 – Bankruptcy and Consumer Proposal

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15 March 2022

There are many misconceptions about bankruptcy and consumer proposal. Many people believe that one form of this insolvency will impact their credit less severly than the other. Part of the reason is due to the fact...

Credit Basics 101 – Rebuilding Credit

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11 February 2022

When lenders adjudicate credit, they are looking to answer the question of if they will be repaid on the funds advanced. When they see that someone is struggling with their current obligations it causes concern. The...

Credit Basics 101 – Your Credit Score

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9 January 2022

Credit is a difficult thing to understand. Most people have the basic concept that they either have good credit or bad credit. What most people don’t know is what makes their credit good or bad. To...