Credit Game Canada
My wife might not think that credit is cool, but there has got to be someone else in Canada that does! Even if you agree with my wife, you can’t deny that having good credit is important. That is why we welcome you to the Credit Game. Every 2nd Wednesday (and some random holidays), we will have a new episode for you. We will discuss different aspects of Equifax, TransUnion, and how you can always have amazing credit. Although Equifax and TransUnion exist in many countries our banking system is very different in Canada. I previously was a high-volume mortgage broker for 8 years. I learned that you can have a high credit score and still get declined. After studying thousands of credit reports for my first book published in 2012, I also learned many tricks to get your credit re-established and ready for best rate mortgage financing. I will pass on what I have learned over the last decade of removing errors/fraud from credit reports and teaching Canadians how to increase their credit score quickly and properly. My wife will try and make sure the content is not boring and make fun of me along the way!
Episodes
Hard Inquiries or Hard Hits are when you apply for credit. Will they lower your score? Find out what you need to know about Hard Inquiries and why it is not worth Freaking out about!
Resources:
- How to get your Free Equifax Report - https://youtu.be/Z03_DvfFY38 - How to get your Free TransUnion Report - https://youtu.be/K6a_R8gZFnw - The Score you see is not the one the banks use https://youtu.be/6YTWDADghH4 - How to Dispute er...
There are two Credit Bureaus in Canada. In this video, we expain the TransUnion report. It is difficult to have good credit, if you don't know how to understand how to read it and what is most important to the underwriters. Get your TransUnion questions answered!
Links:
How to get and print a copy of your TransUnion report - https://youtu.be/K6a_R8gZFnw Is your Credit Score accurate? Don't let it mislead you - https://youtu.be/yKV...
There are two Credit Bureaus in Canada. This video goes through in detail how to read your Equifax report. It doesn't matter if you are just trying to better understand credit, navigage your report, or make sure there are no errors or fraud. This video will walk you through how to read your Equifax Credit Bureau like a pro!
For the full Video - https://youtu.be/PEVHQOAFw64
Links:
Collection agencies in Canada are notorious for their loud bark and agressive collection tactics. If you have seen a collection on your credit report or you are being harrassed by by a collection agency, make sure you watch this video. We go through the statute of limitation in Canada, what happens when a collection is paid or settled, and why their bark is worse than their bite. We also cover a few tricks that will save you thousa...
Did you take Credit 101 in school? I certainly didn't, I wonder if I would have got an A in the class... It doesn't matter if you are New to Canada, just beginning, or well experienced, you need to know Credit 101 if you want to have good credit. There are many popular myths floating around in Canada about credit cards, and it is not common sense If you want to build good credit or always have amazing credit, It is important to kno...
Have you been through a Bankruptcy, Consumer Proposal, Credit Counseling, a Debt Management, or some other debt program? Or maybe you just have bad credit and you are looking to rebuild your credit score fast! In this episode, we discuss the Credit Conundrum many canadians face, which is, "how can I rebuild my credit when I can't get approved!? We will answer this question for you so you know the best types of credit to rebuild you...
Yes, a bankruptcy or any debt program showing up on your Credit Report will hurt your credit in Canada. However, if you are looking to apply for Mortgage financing in the future, there is one thing that is even worse. A foreclosure in Canada is one of the worst things you can do for your Credit, which is why I call it, “the Credit F Word. The Canadian housing market has been crazy the last few years and if you are looking at a Fore...
Society might be obsessed with talking about your credit score, but there are somethings that are even more important than this three digit number. Find out why a high credit score is not enough to qualify for best rates and terms in Canada.
LINKS -
The score you see is not what the banks use - https://youtu.be/yKVKM4n34gg
Why a Credit Card is better than a loan for your credit - https://youtu.be/IjTNlju7cm4
There are multiple debt programs that exist to help Canadians eliminate debt. Many assume that Bankruptcy is the worse one for your credit, but that is not true. When rebuilding your credit so you can qualify for best rates and terms again, it is important to know how each debt program affects your credit. Find out what matters most to banks lenders after you have completed a debt program.
Resources:
Pros and Cons of:
Just like Roulette, having joint credit is a game of chance. Find out what you risk when you attach your name to anyones Credit and how to protect yourself going forward.
Links:
Link to the Youtube version of this Episode - https://youtu.be/G4gduk4VwKA
How to protect yourself from Fraud - https://www.youtube.com/watch?v=NCw9OxlWQvE&t=16s
Joint Credit Risks image - https://creditgame.net/wp-content/uploads/2022/11/Joint-Credit-Ri...
Fraud is the fastest-growing crime in Canada. One way to help avoid fraud is to monitor your credit through Equifax and TransUnion. Equifax calls this program "Equifax Complete Preimier". TransUnion just calls it, "TransUnion Credit Monitoring. We'll also go through the best credit monitoring system in Canada, or what I call - "Credit Self-Defence, for less!"
Resource Section
LINKS What to do when Fraud Happens to you. https://yout...
There are many ways to make your score climb, but there are few things that will really increase your score quickly. I know everyone is interested in the fastest way to jump your score, but first we'll cover the second fastest way to increase it quickly and properly!
Resource Section
- Moxley Family KISS Story https://www.youtube.com/watch?v=3641M...
- Moxley Family KISS Story - The Happy Ending https://www.youtube.com/watch?v=Tp...
Not everything shows up on your credit report and not every bill payment improves your score. Credit Doozies will keep you from getting approved for best rates and terms. Find out what is holding back your credit score, especially if you have been through a Consumer Proposal or a Bankruptcy.
LINKS:
Common Errors on a credit report https://www.linkedin.com/pulse/what-do-when-fraud-happens-you-richard-moxley/?trackingId=aiMMpabiRQK4y...
There are two reporting agencies in Canada, Equifax and TransUnion. There are many different ways to get a copy of your credit report but few Canadians see the benefit of reviewing both. You might be surprised at how different your Equifax and TransUnion reports can be and why it is essential to review both of them, especially if you are planning any major financing in the near future!
OR VISUALS AND FOR THE FULL EPISODE - https:...
Most Canadians would agree that paying your bills on time is common sense. But what if I told you that paying credit on time still can be considered late in the eyes of the bnaks and Equifax and TransUnion? During Covid banks were offering deferrals out like they were candy but not warned of how it affects your ability to get approved. Find out what it really means to pay on time to Equifax and TransUnion and protect yourself from ...
Think of your credit score like your GPA (Grade Point Average). Your school GPA indicates how well you are handling your individual classes. Your credit rating is like your individual "grade" for each individual Credit Card, Line of Credit, Loan, Lease, Mortgage, and Line of Credit. In this episode, we outline how you can tell what your individual credit account ratings are and how you can use them to make sure you always have an A...
I'm sure your Mother or a loved one has given you some great advice throughout your lifetime. However, their instructions when it comes to credit can lower your score. Common sense would lead you to believe that paying off a loan would help your score, but that is not the case. I have seen too many Canadians be declined just because they paid off a loan at the wrong time. It is really important to know how this works, especially if...
Did you know that you have more than one credit score? We tend to talk as if there is just one, however, there are two credit reporting agencies in Canada, Equifax and TransUnion. Where it gets confusing is, both Equifax and TransUnion offer multiple credit scores. And the one you have access to, is not the one that the banks use. Find out why this matters to you and help you better understand the Credit Game!
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