3 ай бұрын
4 ай бұрын
Пікірлер
@richardoa623 2 күн бұрын
Hi I have a question I have 3 credit cards that’s closed due to me not paying the minimum balance. Cards are maxed out and have a balance on all 3, my question do I pay the full amount or settle with them, And if I settle with them will it have a effect on my credit report???
@CreditTV Күн бұрын
It depends on what the rating is. If you see a 9 rating on your credit report (meaning the account has been written-off) which generally happens when you were over 3 months behind on payment, then there is no benefit to your credi to pay the full amount. If the rating is currently a 3,2,or 1 then it is worth getting the account back on track first and then pay them off in full when possible. If you are already talking to a collection agency, it is too late to save the account and it is better just to settle. Here is a video that walks you through how to save thousands of dollars when settling outstanding balances - kzbin.info/www/bejne/oIbMaH-DgKZ0fM0
@franciso7208 9 күн бұрын
the US is made easy to dispute and delete inquiries Why is it so difficult for Canadians
@CreditTV 8 күн бұрын
Because in Canada, the big banks make the rules. The system here is designed to put the burden of proof on the consumer instead of the lender. It is dumb.
@Desbradbury 10 күн бұрын
They came up showing you, how to go back spend more. A tip if you carry any debt, stay away
@CreditTV 9 күн бұрын
I'm sorry, I'm not sure if I understand the comment. If you carry any debt, stay away from....what?
@paulnewhouse5126 19 күн бұрын
Going to apply for this now, thank you for the 20$ bonus!
@CreditTV 19 күн бұрын
You bet. Even better that $20 doesn't come out of my pocket :)
@paulnewhouse5126 19 күн бұрын
@@CreditTV So interesting, i signed up and it looks like this comes with rent advantage at no extra charge, should i cancel my borrowell rent advantage or should i just try to report to both? Don't want to lower my score by accident.
@CreditTV 18 күн бұрын
@@paulnewhouse5126 I haven't tested KOHO's rent reporting yet. As it is for no charge, I would confirm that it does show up and then you can look at canceling Borrowell. How long have you had the borrowell rent reporting?
@paulnewhouse5126 19 күн бұрын
Wake up Jess!
@paulnewhouse5126 19 күн бұрын
I'm hooked on your channel lol. Made one mistake when i was in my early 20s and now have a score just under 600, using borrowell rent advantage and capital one secured card to help rebuild. Thank you for the videos and your pleasant personality!
@CreditTV 19 күн бұрын
Awesome! I really appreciate your comment. I'm assuming the "pleasant personality" comment is for Jess. The videos would be really boring without her 😀
@paulnewhouse5126 19 күн бұрын
@@CreditTV Ehh shez also nice ;) haha, of course your both wonderful!
@CreditTV 19 күн бұрын
@@paulnewhouse5126 I won't show her that comment because she will probably take it out on me. I do appreciate your comments and watching.
@fredawalksalone2749 19 күн бұрын
Closing credit cards a must? Or having say 3 credit cards and paying them after using them help or hurt my credit if the cards are only 1-10% used monthly on high credit card like 10 000 limit? Does that effect my score? Im finding it hard to get real proof answers. Everyone has an opinion and worked at a call center on credit cards issues. I need help understanding if having 3 cards with fairly high limits and are used and paid b4 interest monthly helps or hurts? Im told to lower the cards limits? Should I do this? Canadian here
@CreditTV 19 күн бұрын
Thank you for your comments. I have other videos that answer your questions. Closing a credit card lowers the score - kzbin.info/www/bejne/aneympalqLuVpJo. How many cards, what limit, and what the balance should be - kzbin.info/www/bejne/gZqcfI2pbL6Lq6s. Lowering the card limits does not hurt as long as they are kept active and the balance is low. Paying before the balance before the interest kicks in, doesn't lower your score. It is what I suggest for all my clients. Let me know if you have any other questions.
@kewtd72 26 күн бұрын
I did not know that when credit cards offer to raise your limit that also goes against your score if you accept it. what a screwed up system.
@CreditTV 26 күн бұрын
Yes, sometimes even though you have been pre-approved for a credit limit increase, the lender may do a hard hit. It depends on the lender. However, everytime you apply for a new card, it will be a hard hit. A very screweed up system.
@squangan 27 күн бұрын
It’s quite strange as two different banks display my Transunion scores on the exact same day and one will say for example 843 and the other 867. It’s the same credit score company on the same day and it shows two different scores on different sites?
@CreditTV 27 күн бұрын
I hear you. Most likely there is delay happening somewhere. None of the scores aren't very reliable.
@markcasiano9199 27 күн бұрын
The report does not get updated right away after receiving the certificate. It could take up to 2 months.
@CreditTV 27 күн бұрын
I know the the trustees typically say this, but the government agency over Consumer Proposals submit the record to Equifax and TransUnion every week. If you aren't seeing those changes within a couple of weeks, it is rare that you are going to.
@amitjn Ай бұрын
Thanks
@CreditTV 29 күн бұрын
I hope it helps!
@Airam7828 Ай бұрын
It's been 6 years, but mine still shows on credit reports, but my credit score jumped 90 points 😮
@CreditTV Ай бұрын
Is it showing in the public record section? Or does it a consumer proposal on one of the accounts that was included in the proposal? If I had to guess, the Consumer Proposal was removed from the public record section, but there are one or two accounts that were included in it, that are still showing. These can be disputed - Here are the 3 different ways - kzbin.info/www/bejne/sKbYeKd4h5ljh7s
@samsung-qf4ps Ай бұрын
best thanks alot man
@CreditTV Ай бұрын
You're welcome! I'm glad it was helpful.
@yolowho7502 Ай бұрын
Hello sir how can i apply for neo credit theres only option for secured credit card but i want the other one with the credit limit is it not available please reply.
@CreditTV Ай бұрын
www.neofinancial.com/credit has a number of options if you want an unsecured option if you can get approved them.
@yolowho7502 Ай бұрын
Sorry but even if i click it it redirects me to neo app with the only option of secured credit card do i have to open secured credit card to get the other credit ? Or did they removed the option to get credit card ?
@CreditTV Ай бұрын
@@yolowho7502 I'm not sure. When I click the link on my computer it goes to the 3 different credit cards they have. I'm not sure why you are seeing it. You might have to call NEO and have them trouble shoot the issues with you.
@bs8375 2 ай бұрын
*Accurate*
@CreditTV 2 ай бұрын
I'm glad to hear your credit Karma score is accurate.
@FionatheFiend 2 ай бұрын
I have no debts, mortgage, loans, and car loans. Everything my wife and I purchase are all paid in cash. If something is expensive and is over the amount I can withdraw in a day then I'll pay with a credit card and pay off the full balance on my phone immediately. My credit score by TransUnion is over 800. How can this be? I have bills just like everyone else, such as property tax, water, utilities, internet, etc.
@mysticman1671 2 ай бұрын
based on my persnal experince I agree with you , going beyong 50 % my score started droping , at one time it went beyond 75 % (85%) then scores droped down like 55 points , then I as soon as brought it to 71 % I got back the 55 points and everything returned back to normal when I reached around 22 % of total limit .
@CreditTV 2 ай бұрын
It is crazy how much a high balance lowers the score!
@Fubbymaster 2 ай бұрын
Brilliant, thank you. They make it very difficult to find this form.
@CreditTV 2 ай бұрын
Yes, they seem to make everything more difficult than it needs to be. It seems to be their mandate.
@Mr.teliman 2 ай бұрын
Will my credit score be effected if i dont open a Chequing and savings account with big 5 banks? I have one with EQ. I want stay low on banking fees. I have a BMO cashback CC
@CreditTV 2 ай бұрын
No, a chequing or a Savings account doesn't help your score at all, regardless if it is with a major bank or not. I hope that answers your question.
@Mr.teliman 2 ай бұрын
@@CreditTV Thank you so much Team. I hope my case will help me build a credit score of around 800 with my BMO Cashback credit card spending only.
@CreditTV 2 ай бұрын
You bet. Let me know if you have any other questions for us. 😊
@Casual_Talk 2 ай бұрын
Thank you for this video. 👏
@CreditTV 2 ай бұрын
You are welcome! I hope you found it useful.
@Kev506 2 ай бұрын
Would love to see the common errors video
@CreditTV 2 ай бұрын
Working on it right now. It will be released in the fall. Thanks for the comment.
@ChrisGilesPlaysMusic 2 ай бұрын
They just a fee of $5 per month. So sad. The card is crap now
@CreditTV 2 ай бұрын
Dang it! I just updated this video and now they have to change it. Thanks for the heads up. I now see the $5 on their website.
@Liza-z2j 2 ай бұрын
this was a big help
@CreditTV 2 ай бұрын
Happy to help.
@Liza-z2j 2 ай бұрын
do you have any content on how to remove hard inquires in CANADA
@CreditTV 2 ай бұрын
Here is a video on removing inquires kzbin.info/www/bejne/bqCzgYWdarWXp7M. The video also has links to other videos that will walk you through how to submit disputes with both Equifax and TransUnion.
@sandrapatty9853 2 ай бұрын
This is the worst decision ever; I wish I had seen this video before signing with them. I have tried to cancel this account and it doesn't work at all. I feel really helpless in the face of the situation.
@CreditTV 2 ай бұрын
Did you reach out to their customer service and offer to pay the outstanding balance left on the loan? That is the only way I know of them closing the loan.
@refugeeinrefuge Ай бұрын
Hi I am in the same situation, could you please tell me what happened at the end?
@CreditTV Ай бұрын
@@refugeeinrefuge It would be great if you shared your experience here @sandrapatty9853
@DKVlogs_ 3 ай бұрын
Just got access to my virtual card (waiting for the physical one), can’t wait to see it in action! Also good video thank you!
@CreditTV 3 ай бұрын
Let me know how it goes. Thanks for the comment!
@indopakworld 3 ай бұрын
do i need to have a subscription to view this?
@CreditTV 3 ай бұрын
Access to the TransUnion online account is all that is needed. TransUnion does offer a free option, but it doesn't always work. Here is a video that goes through the different steps. kzbin.info/www/bejne/gWfEkIVunL95pNk
@nxshg 3 ай бұрын
I have excellent credit 750+ and I just bought a car, however, I recently came into some money and can now pay off the loan in 2 years compared to the loan term of 7 years? How badly will this affect my credit? I have other credit cards open for about 2 years and a mortgage that's been ongoing for 1.5 years.
@nxshg 3 ай бұрын
PS: my interest rate is high (over 9%) since I do not have a good mix of credit yet
@CreditTV 3 ай бұрын
It will drop the score, the credit card and mortgage will help buffer the drop. I would say it would be worth paying it off the loan to avoid the paying extra interest.
@kennethcole8993 3 ай бұрын
No where on your account to stop transactions you didn’t make sent me a new card and still the same
@CreditTV 3 ай бұрын
I'm sorry, I'm not sure if I understand the comment. I am not a representative of NEO. You would have to contact them directly with any issues.
@mikeyoung7640 3 ай бұрын
What if you’re only going for credit card rewards and nothing else no loans nothing
@CreditTV 3 ай бұрын
Should still only need a credit score of 700 and above. Does that answer your question?
@sammiekara7631 3 ай бұрын
Thanks
@CreditTV 3 ай бұрын
You bet, I'm happy to assit.
@wiseadviceeee 3 ай бұрын
Can I cancel this? Will they charge me for cancellation?
@CreditTV 3 ай бұрын
It depends on how much you have already paid them. As soon as you signup, they will want to make sure they get 100% of the interested they would make off the full term of the loan. You would have to call them to get confirmation if you have paid enough to cover the interest owed and then they can explain the cancelation process.
@wiseadviceeee 3 ай бұрын
@@CreditTV They immediately charged me for the first month, $70.21, what percentage do they want me to cover? Can I just tell the bank to block this scam?
@CreditTV 3 ай бұрын
@@wiseadviceeee That won't work. If they don't get their money, they will register a collection on your report which will really hurt your credit.
@sandrapatty9853 2 ай бұрын
This is the worst decision ever; I wish I had seen this video before signing with them. I have tried to cancel this account and it doesn't work at all. I feel really helpless in the face of the situation.
@bijo-jvarghese7474 3 ай бұрын
How often they report it to the bureau?
@CreditTV 3 ай бұрын
Monthly from what I've seen. Have you noticed something different?
@hargunmakkar9720 3 ай бұрын
Hi, can you do an update on this please? I've now been using the rent advantage for over an year. While my credit score has increased over the past year, I personally feel rent advantage had little to contribute towards it. I was thinking of cancelling the rent advantage and maybe signing up for the borrowell credit builder but am a bit hesitant. I'm not certain if cancelling the rent advantage would negatively impact my credit score/history. Would love to hear back from you
@CreditTV 3 ай бұрын
I agree, I haven't seen the rent advantage really increase the score much at all. You won't much see much of an increase if any using the Borrowell Credit Builder. Here is a review I did on it - kzbin.info/www/bejne/qGnbiaOMp96FnNk Do you have two credit cards?
@hmak2104 3 ай бұрын
Yes, I do have 2 credit cards
@hmak2104 3 ай бұрын
do you think cancelling the rent advantage would have a negative impact on my score?
@CreditTV 3 ай бұрын
@@hmak2104 That is going to help your score the most. I wouldn't waste your time and money on a loan unless you really need it.
@CreditTV 3 ай бұрын
@@hmak2104 maybe a couple points, but not much.
@philc824 3 ай бұрын
Is provincial government debt not negotiable ?
@CreditTV 3 ай бұрын
Typically not, but you can always try.
@philc824 3 ай бұрын
@@CreditTV is it better to have the collection company send me a "full and final payment" letter by mail or is email acceptable ?
@CreditTV 3 ай бұрын
@@philc824 I've never had an issue with email confirmation as long as the account number is included and it has all the details of the account.
@RoadmanStacks 3 ай бұрын
Thank you so much, I’m a 26 years old living in Canada and it get tricky sometimes. Really appreciate this advice!
@CreditTV 3 ай бұрын
You bet. It is hard to find Canadian Credit info. A lot of Credit information from the U.S doesn't apply.
@adrianc7944 3 ай бұрын
Will my credit score go down if i get a line of credit?
@CreditTV 3 ай бұрын
Applying for any type of new credit will technically lower the score a few ponits, but after a few months it will rebound. The key with a Line of Credit is you need to use it at least once before it will help your score.
@philc824 3 ай бұрын
can a collection agency see my bank balance ?
@CreditTV 3 ай бұрын
No, unless the collection is acting on behalf of the same bank you have money with.
@Lj22 3 ай бұрын
Where can i call you and talk in person? My situation is bit tricky to explain in an email.
@CreditTV 3 ай бұрын
If you are trying to dispute the errors directly with Equifax and TransUnion, you can call the number on their websites, but most likely they will just ask you to submit the dispute online anyways. If you are trying to get me to help, I would need to see a report before I know I can help. You can email me to get the process started as it is difficult to get me on the phone with out a report to review first.
@Dinoenthusiastguy 4 ай бұрын
Wait am I stupid or does the disclosure not actually have my score anywhere??? I still can't see it even with the paid version
@CreditTV 4 ай бұрын
The Free TransUnion report doesn't offer the score. You could sign up for free with Credit Karma or ClearScore.ca to get the score. Just keep in mind the score you see, regardless of where you are getting it from isn't always the same score the banks use - kzbin.info/www/bejne/bIq3iHd3ecybfpY.
@Dinoenthusiastguy 4 ай бұрын
@@CreditTV but the paid one does? I paid but still don’t see it
@CreditTV 4 ай бұрын
@@Dinoenthusiastguy The paid one doesn't show it on the report for some stupid reason. However, it will show on your online dashboard.
@garettc 4 ай бұрын
OK you two are adorable. I'd love to see how your banter is while at a Costco... you're hilarious! Also, the videos are great because they're easy to understand and fun to watch. Thanks for posting!
@CreditTV 4 ай бұрын
Our marriage isn't strong enough to survive Costco together 😀 We learned that early in our marriage. We can manage occassional grocery shopping trips at other stores, but we are not at Costco level yet. #relationshipgoals
@MinnieOnCam 4 ай бұрын
He uses techinical words, she uses human words 😂😂
@FUNNYMANERICWHITE 4 ай бұрын
Thanks
@CreditTV 4 ай бұрын
You bet, happy to help.
@levonlyons 4 ай бұрын
i dont have any car loans and next time i start making proper money i will make sure i get the money for the vehicle i have on my mind or ready to choose not somebody telling me what i can afford or what is safe for me fuck that
@CreditTV 4 ай бұрын
Sounds like a plan, you don't need to have a car loan to have good credit anyways.
@johnlam4470 4 ай бұрын
Great Information!!
@CreditTV 4 ай бұрын
I'm happy to assist. Thank you for the comment.
@ho1ymotherofgod 4 ай бұрын
So is it advantageous to payout your CP earlier?
@CreditTV 4 ай бұрын
It depends on your goals. A benefit of the CP is that there is no interest. It is a great time to rebuild your finances and get a strong rainy-day fund organized. However, there is only so much you can do to rebuild your credit while you are in a Consumer Proposal. The faster you pay off your proposal, the sooner you can start rebuilding your credit to get back to best rates and terms.
@ho1ymotherofgod 4 ай бұрын
Another rent reporting company is Front Lobby.
@CreditTV 4 ай бұрын
You bet. They affect the score similarly to the Borrowell Rent Advantage - kzbin.info/www/bejne/opjaiWqdmtmWbbc
@ho1ymotherofgod 4 ай бұрын
Got it ☆
@CreditTV 4 ай бұрын
Awesome. Let me know if you have any questions.
@marketmagus 4 ай бұрын
This is great news! Im sort of wondering if having a Neo card will lower ones chances of ever applying for a major bank credit card down the line?
@CreditTV 4 ай бұрын
That hasn't been my experience. Major banks like to see that you have a good payment history with other lenders first.
@coud1080 4 ай бұрын
For the referral you get paid once the objectives are met by the person whose using your link and both parties get free $15 as well.
@CreditTV 4 ай бұрын
Cool, thanks for the heads up!