Why is Credit Score Important
and what are the benefits of using a credit card over paying with cash or debit
Feb 10th, 2013 4:54 am
Feb 10th, 2013 5:29 am
Feb 10th, 2013 9:02 am
Feb 10th, 2013 10:07 am
Nevermind just loans or the potential to get mortgages/future loans... There are companies out there willing to give you FREE money and rewards based on your credit score. That is a tangible and immediate benefit.
Feb 10th, 2013 10:20 am
Feb 10th, 2013 10:24 am
Feb 10th, 2013 10:24 am
The latter isn't true. Credit checks aren't always necessary to get government security clearance. I have security clearance and have never went through a credit check
Feb 10th, 2013 12:02 pm
Jobs related to finance control usually will. For example, select CRA employees will require a credit check to qualify for RS clearance.
Feb 10th, 2013 12:03 pm
Off the top of my head, obtaining loans (mortgage, car, cash, business, credit cards), rental/leases of property, employment. While not as pervasive as credit scores in the US, they play an important role in many aspects of life.
Feb 10th, 2013 12:09 pm
It depends on what type and level of security clearance you are applying for, and you may not be aware of what they have looked at - the exact details of what they check is kept confidential.
Feb 10th, 2013 12:12 pm
I agree with this. Depending on what you're applying for, a credit check may occur, but just getting government security clearance doesn't always require a credit check. I do know my credit wasn't checked nor is it checked for anyone that has the security clearance that I do
Feb 10th, 2013 1:08 pm
Right, but as Canadians, we should not be complicit while this happens. It's important that we send a strong message to opportunistic employers; that we will draw a legal line in the sand about what is fair game and what constitutes discrimination in this country. Myself and many others are of the strong opinion that my ability to pay my Rogers bill in the past, should not affect the opportunity to pay my Rogers bill in the future.fieldhousehandyman wrote: ↑Feb 10th, 2013 10:24 amA small number of employers are beginning to use credit scores and other things (suitability of online social network information, and the like) to make determinations for offers of employment. The use of credit scores as a determinat factor in offering employment may be on the rise in Canada
Feb 10th, 2013 1:10 pm
when you apply for a rent, they use credit score for almost everything now to check what kind of responsible or irresponsible personne you are.
Feb 10th, 2013 1:18 pm
Feb 10th, 2013 3:47 pm
Do you drive? Many insurance companies are now using credit report information in determining your auto premiums.
There is quite a bit of evidence that people who have a track record of paying their bills on time will likely continue to do so.
When a creditor/landlord gets your credit report from a bureau, they will often ask the bureau to calculate a credit score at the same time.