It determines your spending power when buying a new home or car, and ultimately your cashflow. To help you with your credit, PersonalBanker has partnered with a trusted and leading North American credit repair company to help you boost and repair your credit score.
Good credit matters and PersonalBanker wants to make sure you have the chance to rebuild your credit. Having good credit opens doors, and we have the solutions to help lead you in the right direction. Our credit repair partners work with us each step of the way to ensure that your credit score sees better days and so do you.
What is credit rating?
Important information for your personal finances
Some credit-reporting agencies report the lenders’ rating of each of your credit history items on a scale of 1 to 9. A rating of “1” means you pay your bills within 30 days of the due date. A rating of “9” means that you never pay your bills at all, or, that you have made a consumer debt repayment proposal to the lender. A letter will also appear in front of the number: for example, “I2”, “O2”, “R2.” The letter stands for the type of the credit you are using.
“I” means you were given credit on an installment basis, such as a new car loan.
“O” means you have an open credit, such as a line of credit.
“R” means you have a “revolving” credit.
The most common ratings are “R” ratings. These are known as North American Standard Account Ratings and are the most frequently used. The “R” indicates that the item being described involves revolving credit. If you always pay on time, it will be coded an R1. If an amount was written off because you never paid it back, it is coded R9. The R ratings are a coding system that translates to “on time,” “one month late,” “two months late,” etc – into two-digit codes.
* R2: Pays (or paid) in more than 30 days from payment due date, but not more than 60 days, or, not more than two payments past due. * RR9: Bad debt; placed for collection, moved without giving new address or bankruptcy.
* Late Payments
* Short Sales
* Child Support
* Tax Liens
* Charge Offs
* Debt-to-Income Ratio (DTI)
TORONTO’S CREDIT REPAIR SPECIALISTS!
PersonalBanker Credit Boost specializes in the following areas:
• Hard and soft inquiries
• Late payments
• ID thefts
• Audit/Tax liens
• Negative statements
• Closed accounts
• Rental background screening
WHAT WE DO
Here is what PersonalBanker Credit Boost can do for you:
1 – Determine your need for good credit.
2 – Identify items that impact your credit.
3 – Gather facts about your credit.
4 – Devise fast and effective solutions custom tailored to you.
INNOVATIVE AND TRANSPARENT CREDIT SOLUTIONS
Here are a few reasons as to why PersonalBanker Credit Boost, Toronto’s credit repair and debt solutions specialists, are not your ‘ordinary’ credit solutions provider:
1 – We are not a – typical – generic letter mailing credit repair and restoration company.
2 – We remove derogatory commentary stains.
3 – We provide both credit bureaus that highlight your two credit scores.
4 – We are able to project your ending score upon obtaining your credit report.
5 – Our in-house settlement department will work hard to ensure that you pay the lowest settlement amount possible. Absolutely no questions asked!
6 – Nothing comes back on your credit report in 90 days. Our work is strictly guaranteed!
7 – Our innovative deletion model will allow each and every client to see an increase in their credit score within 30 days.
HOW WE DO IT
This is how PersonalBanker Credit Boost goes to work for you:
We engage your creditors to negotiate the removal of inaccurate and negative items via the Fair Credit Reporting Act.
Be aware that bad credit is not the end to your financial well-being. Your credit can be restored in a very short period of time.
We utilize the full power of the Fair Credit Reporting Act to work in your favor.
Our methods of credit repair are legal!
Frequently Asked Questions
What is a Credit Report?
Answer: Your credit report is a record of your credit activity and credit history. It includes the names of companies that have extended you credit and/or loans, as well as the credit limits and loan amounts. Your payment history is also part of this record. If you have delinquent accounts, bankruptcies, foreclosures or lawsuits, these can also be found in your credit report.
How to Get Free Copies Credit Reports Per Year?
Answer: As a consumer, you may request a free copy of your credit report from each of the three national credit bureaus every twelve months. Accessing and reviewing your credit reports from each of the three bureaus annually helps you ensure the accuracy of the information. It also allows you to monitor your account history to protect against identity theft.
What is a Credit Score?
Answer: A credit score is a three digit number calculated from your data-rich credit report and is one factor used by lenders to determine your creditworthiness for a mortgage, loan or credit card. Your score can affect whether or not you are approved as well as what interest rate you are charged. There are many different credit scores and the credit score you view may not be the score used by a particular lender.
Will Checking My Credit Report Hurt My Credit Scores?
Answer: Checking your own credit report won’t hurt your scores. Credit inquiries are defined as either hard or soft inquiries. Reviewing your own credit report is considered a soft inquiry, and soft inquiries don’t hurt your scores. Checking your credit report at least once a year allows you to identify any mistakes and helps you manage your personal finances.
How is My Credit Score Calculated?
Answer: Understanding the components that make up credit scores can help you wisely manage your credit decisions. To see how it all breaks down, here's an example of how scores are calculated with a popular algorithm. Your payment history makes up 35% of your score, while the amount you owe lenders represents 30%. The length of your credit history contributes 15%, and the types of credit accounts you maintain comprise 10%. Finally, new credit accounts are responsible for 10%. All of these values are then broken down into a credit score, which ranges between 300 and 850—the higher the number the better.
What Affects My Credit Score the Most?
Answer: Your payment history is the most important aspect of your credit score, because it shows how you’ve managed your finances, including any late payments. Your credit history is also very important, as it demonstrates how long you've been managing your accounts, when your last payments were made, and any recent charges.
How Long Does Negative Information Stay on My Credit Report?
Answer: Typically, the negative information on your credit report tends to fall off after 7 years, or 10 if you’ve been through bankruptcy. Positive information remains on your report for an average of 10 years from the day its corresponding account is closed. This information applies to loans like
mortgages and car loans, the types of agreements that have fixed terms on the number of years for repayment. For revolving accounts, such as credit cards, your positive history will stay on your report for as long as the account is active.
We want to put more money back in your wallet.
Click the button below to start your credit repair!