All loans are subject to credit and underwriting approval. Further documentation may be requested from you. Canadian Cash Solutions is not a lender but a lead referral company and may be compensated for its referrals. Loans range from $300-$2.1 million (additional for mortgages) with terms of approximately 2 months to 72 Months (additional for mortgages). APRs range from 2.5% to 29% and will be dependent upon our partner's assessment of your credit profile. For example, on a $1200 loan paid monthly over 12 months, a person may pay $114.05 per month for a total of $1368.64 over the course of the entire loan period. This amount includes our partner's optional loan protection policy. In the event of a missed payment, you are subject to an insufficient funds fee from about $30-$70 (dependent on the lender). Once a loan is in default, your payment plan will be terminated. Different collection methods may be employed to collect your remaining balance. Failure to pay will result in possible legal action and any outstanding debt may be pursued by the full extent of legal options. Our lenders employ fair collection practices.
Note: Canadian Cash Solutions and its affiliates will never ask or charge you any pre-qualification or application fees. Canadian Cash Solution is not a lender but a leading referral company in the finance industry. Canadian Cash Solutions and all of its financial partners adhere strictly to Canadian laws and regulations. To protect yourself, read more on this topic here.
7 ways you can improve your credit score right away
You’ve probably understood that your credit score plays a huge factor in all financial aspects of your life. You might not realize it, but it can have a great impact on factors that decide whether you qualify for getting any form of loans.
We’ve compiled few easy steps that can help any beginner build their credit score:
Get a credit card
The first and foremost step should be that you apply for a credit card. Having a credit card under your name could do wonders to your score – given that they are managed with care.
Instead of getting a traditional card, we suggest that you go for a secured credit card that take cares of reporting to the major credit bureaus.
Watch and eliminate your credit card balances
It is very important that you keep your credit balance low to even null. While the optimum percentage is thirty percent, but the lower this percentage is, the better it is for your credit rating. As experts say, one of the items that is considered when evaluating your score is the number of cards that still have balances.
Bonus: Even if you pay your balances in full every month, you could still have a higher utilization ratio than you actually expect.
Utilize a calendar and pay bills on time
It is highly suggested that you use a calendar and other methods to alert when payments on your cards are due. One of the greatest and yet the simplest method of maintaining a good credit score is simply by making payments on time. If you believe that you can miss the payment deadline by any chance, we suggest you to come up with a schedule that involves you taking care of your credit card bills twice in a month.
Stay within your limits
You should make sure that you have a good grasp on the maximum limit on your credit card. Always make sure that your current reported credit card limits are much lower than they actually are. It is advised that you do not give an impression as if you are maxing out your means every month.
Raise your credit limits
Feel like taking a risk? You can also request your creditors to increase your limit. Although, this step can help establish your credit score at a faster pace, you should also be very careful. Steer clear of this method if you have bad spending habits and cannot trust yourself.
Switch it up
The use of taking out a small personal loan or purchasing an item on installment can act as a modest boost to your score. However, you should be sound of managing all the methods quite effectively.
Actively review your credit report
Always, always, always remember to review your credit report before you do anything else. It is suggested that you request a free credit report from any of the top credit reporting companies and examine just about everything. In case you note an inaccuracy, you should report it without any delays. In this way, you can make sure that your efforts are not wasted and that you credit report remains clean.