Level of Credit Protection Unclear in Wake of Major Loss

Level of Credit Protection Unclear in Wake of Major LossIn the wake of a class action lawsuit, the federal government now says it will provide a “credit flag” service for nearly 600,000 Canadians whose data was lost in November. But it is not the same level of credit protection it advised those affected to get, and pay for themselves. Human Resources and Skills Development Canada (HRSDC) said the hard drive was lost in November from an office in Gatineau,…

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Secured Credit Cards Can Help Build Credit History

Secured Credit Cards Can Help Build Credit HistoryNewcomers to Canada can have a very difficult time getting a credit card because they don’t have a  credit history. Building up a positive credit history is a good idea because it will make it easier to get a line of credit, a loan, or a mortgage later on.One way to do that is with a secured credit card as long as you understand how it works. Here are a…

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Get Your Free Credit Report Today

Get Your Free Credit Report TodayIf you are interested in  getting your credit reports for free then look no further.  All you need to do is contact TransUnion and Equifax (the two authorities in Canada responsible for credit reports) in the following ways: TransUnion: Free Report via Mail or Fax Fax: 905-527-0401 Voice: 800-663-9980 MAIL: TransUnion Consumer Relations Centre P.O. Box 338, LCD 1 Hamilton, ON L8L 7W2 For Quebec Residents: TransUnion (Echo Group) 1…

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5 Tips for Getting Back on the Credit Card Ladder

5 Tips for Getting Back on the Credit Card LadderYou don’t really appreciate what everyone means by ‘credit crunch’ until you actually get rejected for a credit card or loan that you thought you were good for. The current economic crisis means that lenders are getting tighter and more exclusive about who they approve. The so-called ’subprime’ group of consumers, ie those who are not able to get the market leading credit cards and loans, is expanding more and…

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7 Credit Score Myths

7 Credit Score MythsCredit scores have become a major metric in our lives; if you are getting a car loan, mortgage or even applying for a job your credit score will have a significant impact on the decision. I believe everyone should check their credit reports on a regular basis, semi annually or quarterly if you have a credit score that needs improvement. Many myths have come about due to the mysterious algorithm…

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Top 6 Debt Myths

Top 6 Debt MythsAt some point in our lives we all have some sort of debt; student loans, mortgages and car financing are the most common types of debt we carry. Everyone seems to have his or her own opinions about debt and debt management; however there are a few myths about debt that most would agree on. Here are six most common debt myths, feel free to add your debt myth at…

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