Comments on: Top 4 Credit Cards For Bad Credit in Canada

By: roger

roger — Tue, 16 Jun 2015 22:02:06 +0000

yes

By: Miriam Berman

Miriam Berman — Thu, 18 Dec 2014 21:22:28 +0000

Hi Paul, I wouldn’t want to argue with whoever you spoke to at the bank. However, any time you take out credit and a report is sent back to the credit bureau, this will help to rebuild your credit. So, if you have a secured card and pay your bills on-time (i.e. are not going into the secured funds to cover your expenses) this should theoretically be reported back to the bank. If you are able to qualify for a store credit card or any others than this will also help your credit score. Even if you are granted a car loan, a loan for furniture etc, this should all be reported back to the credit bureau.

I would check with a couple of banks to verify that they don’t report back to the credit bureau. See this link too – http://www.bankrate.com/finance/credit-cards/10-questions-before-getting-a-secured-credit-card-2.aspx#7 – and view #7.

Thanks & good luck, Miriam

By: Paul

Paul — Tue, 16 Dec 2014 14:45:54 +0000

As far as I know, secured credit card doesn’t help to rebuild your credit file, since you will be using your own money (The secured deposit).
Secured Credit cards are not shown in the credit file. Someone from the bank told me this, so it must be true.
He said : it’s better get any Credit Card from any store even if the credit limit is for 500$.

By: Miriam Berman

Miriam Berman — Tue, 14 Oct 2014 04:11:12 +0000

Hi
You should be able to but I would recommend asking the credit card company if they will be reporting credit history on the 2nd applicant – some do and some don’t. You want to ensure that on-time payments will be reported so it helps her credit score.

Good luck, Miriam

By: Erick Baina

Erick Baina — Fri, 10 Oct 2014 02:02:32 +0000

If my wife will be a secondary applicant for the home trust secured visa, will she be able to rebuild her credit as well?

By: Sarah

Sarah — Wed, 02 Jul 2014 00:48:57 +0000

Unfortunately not Jannet. There is a $500 deposit required, however, we encourage you to apply for the card anyways as the customer service team may be able to help figure out payments with you.

By: Jannet

Jannet — Sat, 28 Jun 2014 15:56:15 +0000

If you have bad credit, but own your car and home outright. No debt can you use them to acquire a credit card

By: Miriam Berman

Miriam Berman — Mon, 06 Jan 2014 22:29:56 +0000

Hello,
Yes – this is all very true. Do you feel using credit cards or paying them off quicker can assist in this? Miriam

By: Nicholas

Nicholas — Mon, 06 Jan 2014 21:32:54 +0000

Another reason to refinance your mortgage is to pay it off faster.

Set Mortgage Rate: The interest rate here does not change
throughout the entire period of the mortgage. And naturally the knock-on effect
of a lowlevel of mortgage approvals is that there are fewer house purchases and the stagnation of the market continues.