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Phone: 416-495-2760  Mobile: 416-709-3153  Toll Free: 1-800-496-9220  Fax: 416-496-2144

What % of payment history, new credit, length of credit history & other contributes to Your Credit History?


















Why is that important? ... Have you heard of anyone whose beacon score is low?


When applying for a mortgage (car, home), lenders look at Your Credit History that is ranked as a 3-digit credit score number ("Beacon Score" in Canada).

- Credit scores (such as ERS prepared in Canada by Equifax) predict the likelyhood of a consumer going 90-days past due within the next 12 months

- Scores range from 300 - 900 ... higher the score, the better chances for a consumer being approved for a mortgage by a lender


What I learned from mortgage specialists and What one of the representatives at Equifax told me:

- Pay off your creditors (credit cards, utility companies, etc) in full on monthly basis. FYI, only the monthly minimum is NOT helping you to build up the credit history

- In case the extra cash flow is needed - use only half of the credit limit allowed (when carrying it over from month to month) ... otherwise, the lenders can see you as a "credit seeker"

Get your report & know your score ... check it once a year (maximum) - it's only $23.95 per report and you know exactly where you stand

- For an added peace of mind, you could Monitor your Credit & Protect your identity from the idenity theft... But that's for another discussion. 


For more info, contact me by filling the request form below. I'm here to assist you!

We only collect personal information necessary to effectively market and sell the property of sellers, to assess, locate and qualify properties for buyers and to otherwise provide professional services to clients and customers.  I/We do not sell, trade, transfer, rent or exchange your personal information with anyone.

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