Credit Repair Canada? Credit Repair Loans Vs Secured Credit Cards
Looking for the best option to get credit repair in Canada in between Canadian secured credit card and credit repair loan? An individual needs a good credit rating to get loans on best rates, insurance, or even apply for a job! Credit repairing companies can erase your bad credit rating and help you in getting back your good history. Credit repair Canada has become a big industry, there are plenty of companies offering their services to clean up your credit report for a fee beside you can also use credit repair software that enables consumers to correct errors and inaccurate information in their credit reports to boost their Credit score. Secured credit cards have been used most as a reliable way to erase bad credit and building up good credit history besides credit repair loan is getting the attention of various people in Canada who require opportunities that cannot be achieved with the secured credit cards.
Secured credit cards have been one of the best dealt credit repair services by most of the people in Canada because these are easy to get and bring up a simple way to build or rebuild a credit rating. Secured credit card application requires a predetermined amount of cash deposit (usually $500.00) where your credit card deposit works as your credit limit against your new credit card (MasterCard or Visa). The lender or a credit card issuing company may increase the credit limit or return the initial security deposit back to borrower on looking at his/her discipline when keeping up good record of regular payments history over a period of time.
Whereas credit repair loans are a concern, these are offered for fixed amounts and time. There are plenty of examples of borrowing to build your credit Canada like getting a loan for a Registered Retirement Savings Plan (RRSP) or a Registered Education Savings Plan (RESP) are a good place to start. These kinds of loans are offered usually for a short period of time until an income tax return comes in besides money stays with the lender (providing them security). As you are saving for your future goals like your retirement or for your child’s education, it will also highlight you are exercising good money habits. It will make your future borrowing easy as you have increased your assets and have developed a good track record like a normal person. As Lendit loan brings a great acceptable way of credit repair loan that can offer great advantages to erase your bad credit rating and enhance your credit rebuilding process. Here is how you can compare a credit repair loan with a secured credit card:
Compare and find solution to get a perfect credit repair Canada!
| Title | Credit Repair Loan | Secured Credit Card |
|---|---|---|
| Deposit | No deposit required | Minimum deposit (usually $500) |
| Interest Rate | 12.99% | 14.90% – 19.50%+ |
| Turnaround Time | Same day approvals and funding | It take time to process paper application (usually weeks) |
| Credit Check | No credit check required | Credit check required |
| Credit Reporting | Reports as “I” Instalment Tradeline | Reports as “R” Revolving Tradeline |
| Credit Amount | $2,300 to $5,500 sizes | $500 to $10,000 (based on deposit) |
How to fix your credit? You have to consult with one of the credit repair experts, who can better guide you on one of the best programs that work for you in your specific circumstances and needs or may give you customized credit repair advice accordingly. What’s the fastest best way to fix credit scores? Credit repair Canada is possible but holds a lengthy process, you have to take strict measures to improve your credit rating and it will take your time and dedication. You will get a lot of credit repair companies online and, through television and newspapers claiming to offer you a guaranteed credit fix like “erase your bad debt today”, whereas getting a fast credit repair is impossible because it’s a slow process that requires a lot of time and effort to get it fixed. Don’t ever consider these kinds of credit repair experts that offer such claims as easy or quick credit repair. The best way to repair credit Canada is that which most people consider following; while a secured credit card is a well-recognized tool that people have been using for years to rebuild credit, you may also go with the credit repair loan that offers a legal, logical and reasonable way to fix and build or rebuild your credit with additional features to build and enhance your savings and best of all it works for individuals facing critical financial situations like consumer proposals and bankruptcy. Adopt what suits you in your own circumstances and requirements, where LenditFinancial credit repair loan is an enhanced form of the traditional concept of borrowing to build your credit which offers a faster, easier, more affordable credit rebuilding process that will help in removing your financial worries and getting your normal life back on right track!
Sorry; According to information in BBB files, this business is no longer in business. Moreover, As of October 28, 2015: Lendit Financial Inc had its corporate registration canceled on June 03, 2015. The website www.lenditfinancial.com is still active. When applying for services, customers also receive email from a company called Refresh Financial Inc, which is the corporate entity that took over of Lendit Financial Inc. (Refresh Financial Inc also offers credit building solutions that may help you; check it out for more details)
Moreover; please follow the link to find out about the Credit Rehab Savings Program Canada and get your FREE quote today!
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