Credit Score UpdateDon’t be afraid of your Credit Score.  Learn to read it. Review it on a regular basis (every six months or so).  Put it on your list which includes furnace filters, smoke alarm batteries, blood work and oil changes!  

A quarter of Canadians are in subprime credit categories.  This is adding to their fears of checking their credit score.  Don’t be afraid, tackle it. It will save you thousands in interest costs.  While 96% believe a good credit score is important, just 41% know their score.

If you’re looking to buy or rent a home, buy or lease a car, or even want a new credit card, it’s important to know your credit score. A higher credit score can give you more buying power and lower interest rates. Also, with the holidays just around the corner, you might be thinking about putting all of your purchases on a credit card to earn big rewards.

79% of consumers who disputed credit report errors were successful in removing them

One other reason to monitor your credit score is the threat of identity theft. This can be the most frightening thing.  It can have a significant impact on your credit. Identity theft can lead to multiple hard inquiries and high unpaid balances. These will turn into delinquencies such as late payments or charge offs, which can have a severely negative impact. Even if you’re scared to look at your credit report and score, it’s a good idea to check them frequently so that you can work on correcting any errors that may appear.

Do not be reluctant to get professional help. If you do not know where to go or feel helpless, call me. I can help.  Act soon and set your mind at ease. Jennifer Rossides an Ottawa mortgage broker will work on your behalf to achieve financial independence.  As an accredited mortgage broker in Ottawa I can help you. Please give me a call at 613-867-8076 or send Jennifer Rossides an email at jenr@lendinghand.ca Start today to find a Smart Mortgage Solution that’s right for you.

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