Credit rating

Author:: fleurlasalle
Date:: April 21, 2007

A good credit rating is part of our lives. With a good credit rating more banks and businesses will be able to extend more credit to you for personal or business use. The credit report score is created from your spending habits and from your history with bills. If you pay your bills on time and in full it is easy to have a good credit rating.

But what is a good credit score? A good credit score is rated R1, which means you pay your bills and other obligations in 30 days. R8 and R9 are the worst meaning that you are going through repossession or bankruptcy. A good credit score is an advantage and you can start enjoying nice things like a low interest rate credit card. Low interest rate credit cards are cheaper for you than the average credit cards that go for 19% to 28%: since they charge interest at as low as 9%.

There are two credit-reporting agencies in Canada Equifax and Trans-union. You can be able to access a free online Canadian credit report just search for one under Google Canada. It is important to know how to improve credit score. There is no short cut but paying all your bills and in a reasonable time frame.

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What is personal credit rating?
I’m looking to move to buy a house the united states this october. I understand that personal credit rating is an important criterion for evaluating my loan application. I would like to know what personal credit rating means.
I have bad credit, how can I get loans in Canada?
I need to borrow some money to finish the basement but I have a bad credit rating. How can I get a loan?

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