Why is my credit score so important?

lady laptop

Many Canadians don’t understand why their credit score is so important. Many people think that buying everything with cash is the best option and therefore don’t have to worry about having a credit score. Maybe you don’t ever expect to buy a home, so it doesn’t really matter what it is, right?




How creditworthy you are, which is reflected in your credit score, affects far more than just your ability to get a loan or buy something on credit. It can affect whether or not you get that apartment you are looking at, how much you have to pay for insurance, and now more than ever before, whether or not you are going to get that job you are looking for. These days, many employers are also looking at your credit to see how responsible you are.
Seeing how your credit affects so many parts of your life shows just how important it is to take charge of your credit score. Many people have no idea what sort of condition their credit score is in. Regardless if you have bad credit or no credit at all, there are lots of ways to build or improve your score. The first step is knowing your credit score and taking the steps to improve it.


Should I get a Bad Credit Loan?

Like everything you do, there will always be positives and negatives to your actions and decisions. If you find yourself requiring a bad credit loan for whatever reason, your best chance to make a positive impact on your credit score is really quite simple. You need to make sure your bad credit loan offers the following attributes:


  1. Make sure your loan payments are reported to the Credit Bureau
  2. Make sure you pay on time and in full


By ensuring those 2 steps are taking place, you are taking charge of your own situation and building your credit history with each and every payment. Obviously with a bad credit loan, you are going to pay more for your loan because of your current credit worthiness. If you follow the 2 steps above, you are giving yourself the opportunity of making the best of a bad situation.


If you are considering a bad credit loan, we would love to talk to you about our Credit Recovery Program and the installment payment program that we offer. It is a great additional source of credit and an alternative to a secured credit card. This will also help prove your credit worthiness and will show your possible future credit granters that you can pay for different types of credit.

With our Credit Recovery Program, we offer low, flexible payments with short terms. You are able to enjoy your purchase while building your credit score all at the same time. All you have to do is make on time payments which will be reported to the credit bureau each month. This can help build and improve your credit score!

apply nowknow your creditwhy is my credit score importantexplore your product