10. What is a credit score?
A credit score is a number that
summarizes the historical credit
information on a credit report.
The number reflects the likelihood that you will
become delinquent on a loan or a credit
obligation in the future.
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
11. Credit Agencies in Canada
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
12. What is a credit score
• Score range from 300 to 900
• Every time you sign for credit, you agree to have
your credit habits reported to credit agencies
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
16. Low Score will Cost you
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
17. Low Score will Cost you
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
18. Lousy Things Happens To Good People
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
19. The Good
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
20. The Bad
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
21. The Ugly
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
22. The Ugly
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
23. The Ugly
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
24. 7 Ways to protect your Score
• Maintain a low credit card balance
• Pay all bills on time
• Do not Co-sign a loan
• Continually keep your accounts active
• Resist signing for a department credit card
• Limit the number of accounts
• Do an annual review
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
25. Why An Annual Check?
We live in the era of Identity Theft
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
26. Fixing Your Credit Score?
The first step is to pull your credit report
Make sure none of the following are on your
report:
• Late payments, charge-offs, collections or
other negative items that aren't yours.
• Credit limits reported as lower than they
actually are.
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
27. Fixing Your Credit Score?
– Accounts listed as "settled," "paid derogatory," "paid
charge-off" or anything other than "current" or "paid as
agreed" if you paid on time and in full.
– Accounts that are still listed as unpaid that were included in
a bankruptcy.
– Negative items older than seven years (10 in the case of
bankruptcy) that should have automatically fallen off your
reports
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert
28. Questions?
Philippe Daigle Your Kelowna and Area
06/03/2012
Mortgage Expert