Brokerage License: #10250 Independently Owned and Operated

  • Home
  • About
    • The Welch & Co Team
      • About Raquel
      • Gib Hannah
      • Guy Ferguson
    • Partners
    • Testimonials
  • Resources
    • Online Application
    • First Time Home Buyers
    • Mortgage Renewals
    • Homeowner Refinancing
    • Blemished or No Credit
    • Mortgage Tips
    • Real Goods
    • Seniors
    • Email Consent
  • Calculators
    • Mortgage Qualifier
    • Mortgage Calculator
  • Rates
  • Blog
  • Contact
Search
  • Home
  • About
    • The Welch & Co Team
      • About Raquel
      • Gib Hannah
      • Guy Ferguson
    • Partners
    • Testimonials
  • Resources
    • Online Application
    • First Time Home Buyers
    • Mortgage Renewals
    • Homeowner Refinancing
    • Blemished or No Credit
    • Mortgage Tips
    • Real Goods
    • Seniors
    • Email Consent
  • Calculators
    • Mortgage Qualifier
    • Mortgage Calculator
  • Rates
  • Blog
  • Contact

blemished-credit

View Page in French

Blemished or No Credit

What is a Credit Score?

A credit score is a three-digit number that is calculated using a mathematical formula based on the information in your credit report. You get points for actions that demonstrate to lenders that you can use credit responsibly. You lose points for things that show you have difficulty managing credit. To find out what counts toward your credit score, see the section called “How to improve your credit score”.

In Canada, credit scores range from 300 to 900 points. The best score is 900 points. Your credit report is a summary of your credit history. If you have ever used a credit card, taken out a personal loan, or used a “buy now, pay later” offer, you have a credit history.

This guide can help you:
• Understand your credit report and score
• Improve your credit score
• Order your credit report and score.

Building a good credit history is important for your financial health!!!!

How to Improve Your Credit Score

Here are some tips on how to improve your credit score:

  • Always pay your bills on time.
  • Try to pay your bills in full by the due date. If you aren’t able to do this, pay at least the required minimum amount shown on your monthly credit card statement.
  • Don’t go over the credit limit on your credit card. Try to keep your balance well below the limit. The higher your balance, the more impact it has on your credit score.
  • Reduce the number of credit applications you make.
  • Make sure you have a credit history.

The Catch 22!? - "No one will give me credit!"

Many Canadians often to run into the dilemma of what we call a “catch 22”. You need credit, but can’t get approved for credit, so what do you do? Fortunately, industry experts have identified this issue and as of a result have created programs to help these types of individuals out.

Apply for a Home Trust Secured Visa

With Annual Fee
Without Annual Fee

Our Partners

compliance-first-financial

homeowners-with-debt

Affirm Financial

So, how does it work?

Contact us to setup an appointment, we can help you learn more from our credit improvement partners!

Apply Now

Resources

  • Online Application
  • First Time Home Buyers
  • Mortgage Renewals
  • Homeowner Refinancing
  • Blemished or No Credit
  • Email Consent

Calculators

  • Mortgage Qualifier
  • Mortgage Calculator

Recent Posts

  • Starting Over ~
  • Bank of Canada Maintains Record Low Overnight Rate
  • CMHC Changes mortgage rules again!
  • Update on COVID-19 Kingston & Lenders’ Relief Options
  • Bank of Canada cuts rates again

Give us a call

613-546-2989

Connect with us

Contact Info

Address: 775 Blackburn Mews, Kingston ON K7P 2N5
Email: welchco@mtgprof.com

Licensed Agents

Raquel Welch: #M10000573 613.888.3599 raquel@mtgprof.com
Nancy Naim: #M08002086 613.532.3307 nancy@mtgprof.com

Connect With Us

© Welch & Co. Mortgage Professionals, 2022.
Website Design by RedTrain
About Resources Online Application Rates Contact