How to rebuild poor credit

How to rebuild poor credit

Rebuilding your credit can be a daunting task. Taking a few preliminary steps can help you get an idea of where to start, and what you can expect your credit to look like after changing your financial habits.

This article has been updated from a previous version.

If you’re reading this, you’ve likely gotten yourself into a bit of trouble, financially speaking. Although having a poor credit score can make certain aspects of your life challenging, it isn’t impossible to recover from. That said, rebuilding your credit takes time and the willingness to make some changes.

About the author

Vanessa Page has been a personal finance writer for the past three years. After studying Economics, the most boring of business sciences, she was an English teacher in South Korea and has traveled around the world. These days she's settled down in a small town in Canada. Vanessa divides her time between writing and managing her numerous blogs, starting new projects and reading as many books as possible. She can be contacted on Twitter, Facebook, or by email.

 

Read this next

December 6, 2022

The dangers of only making minimum credit card payments

When you make only the minimum payment on your credit card balance, it can add to your debt and negatively impact your c... Read more

May 27, 2022

How using a prepaid credit card helped me stop relying on overdraft

Overdraft protection can be a short-term solution to cover necessary expenses; however, some people use it to fund their... Read more

November 10, 2020

Ellen Roseman: When the refund route fails, ask for a credit card chargeback

Chargeback requests are soaring because of COVID-19. When you've exhausted your resources to get a refund, a credit card... Read more

browse categories

How your credit score affects the loans you apply for

How your credit score affects the loans you apply for

Your credit score can influence your interest rate and terms on money products, such as mortgages and other loans. Here’s why having a good score pays off.

This article has been updated from a previous version.

Do you know your credit score?

If so, have you ever stopped to think about what it means?

Credit scores can be mysterious, and you may find you know little about how they impact your life even after a crash course in how credit scores are calculated. Many people think they only have one score, but that’s not the case.

About the author

Dominic Licorish is a freelance writer for LowestRates.ca. When he's not working, he spends his time writing movies and wandering the streets of Toronto with a camera.

browse categories

How long do you have to report an accident to your insurance company in Ontario?

How long do you have to report an accident to your insurance company in Ontario?

There are several things you must do after being involved in a collision. Follow these steps, from checking for injuries to calling the police and notifying your insurance company.

Depending on your car insurance policy, your auto insurance provider may require you to report an accident within seven days. But typically, the sooner, the better.

About the author

Lisa is a senior editor in the personal finance space. Her work has appeared in Reader’s Digest, Toronto Life, Canadian Living and TVO. As a child, she diligently hoarded the $50 bills that fell out of her Christmas cards. Adult Lisa is working hard to resurrect those stockpiling tendencies. 

Read this next

March 9, 2023

Driving with pets and car insurance: what you should know

If your pet loves being close to you, think twice before letting them join you in the driver’s seat. You could face a ... Read more

February 14, 2023

What kind of auto insurance do you need if you drive for Uber or Lyft?

While Lyft and Uber provide commercial insurance that covers you while you’re providing the service, you’re still re... Read more

January 12, 2023

How to switch car insurance providers

While it may seem daunting to switch car insurance providers, it is a great way to regain some control over rising rates... Read more

browse categories

Will installing hand controls in your vehicle affect your insurance?

Modifications exist for drivers with disabilities to improve accessibility, but how do they impact your car insurance?

Taking a trip to another province? You might want to get travel insurance

Taking a trip to another province? You might want to get travel insurance

You only have access to the full extent of your health care coverage when you’re in your home province; travel beyond those provincial borders (but still within Canada) and some of your medical benefits drop away.

This article has been updated from a previous version.

Picture this.

You fly across Canada to visit your friend in Kelowna, B.C., and the two of you decide to go hiking. Then, while excitedly clamouring through the forest to get a better view of the skyline, you trip on a tree root and hit your head.

Your friend scrambles to call an ambulance.

About the author

Rebecca is one of our freelance writers. When she’s not camped out in front of her Mac, find her shamelessly adding books to her must-reads pile while actually just re-reading Harry Potter. Say hello on Twitter or LinkedIn

Read this next

July 7, 2022

Do you need travel insurance to cross the U.S. border?

Though Canada and the U.S. are neighbouring countries, your full provincial health insurance doesn’t extend beyond the... Read more

June 15, 2022

What kind of travel insurance should you get when taking a vacation?

There are many travel insurance options to protect yourself, your stuff, and your itinerary. But how much coverage is ne... Read more

June 3, 2022

What you need to know about using your travel medical insurance

Let's hope you never have to rely on travel medical insurance, but there's a lot at stake if you don't know how to use i... Read more

browse categories

What you need to know about buying a property outside of Canada

What you need to know about buying a property outside of Canada

Whether you’re looking to spend your retirement years in perfect weather, or you’re an independent worker ready to escape Canada’s rising cost of living, buying property overseas may be a serious consideration.

This article has been updated from a previous version.

About the author

Sinead Mulhern is a Canadian journalist who writes about health, fitness, travel and personal finance. A former Torontonian, she is now based in Medellin, Colombia where she freelances for Canadian publications while travelling. 

Read this next

March 8, 2023

Canadian First-time Homebuyers Guide 2023

Becoming a homeowner is one of the biggest decisions you’ll ever make, and we’re excited to help you through it. It ... Read more

February 23, 2023

Government of Canada programs to support homebuyers in 2023

In a high-interest market, prospective buyers can use all the help they can get. Luckily, the Government of Canada offer... Read more

November 16, 2022

Everything you need to know about bridge financing when it comes to buying a home

If you haven’t reached the closing date of your current home by the time you want to buy a new one, a bridge mortgage ... Read more

browse categories

Everything you need to know about accident forgiveness

Everything you need to know about accident forgiveness

Accident forgiveness can help keep your auto insurance rate low after your first at-fault collision. However, there are certain eligibility requirements and limitations to the endorsement.

If you’ve been careful behind the wheel, then you don’t want your first at-fault accident to raise your auto insurance premium.

The accident forgiveness endorsement was created to avoid exactly just that.

Typically, when someone gets into a car accident for which they are determined to be at fault, their auto insurance rate goes up whenever they renew or purchase a new policy.

About the author

Leah Golob is a freelance journalist, content marketing writer and editor based in Toronto. She’s written extensively on the financial industry for trade and consumer publications, such as The Globe and Mail, Corporate Knights, Investment Executive and more. Learn more about her work at LeahGolob.com.

Read this next

March 9, 2023

Driving with pets and car insurance: what you should know

If your pet loves being close to you, think twice before letting them join you in the driver’s seat. You could face a ... Read more

February 14, 2023

What kind of auto insurance do you need if you drive for Uber or Lyft?

While Lyft and Uber provide commercial insurance that covers you while you’re providing the service, you’re still re... Read more

January 12, 2023

How to switch car insurance providers

While it may seem daunting to switch car insurance providers, it is a great way to regain some control over rising rates... Read more

browse categories

Cost of Living in Toronto

Cost of Living in Toronto

The cost of living in Toronto in 2022

Disclaimer: These numbers represent an estimate of what it costs to live in Toronto based on LowestRates.ca data, external sources as well as our writers' personal experiences. It’s entirely possible for people to live in the city for much less, while others may need much more to fund the sort of lifestyle they prefer.

About the author

The LowestRates.ca writing team focuses on telling original stories and bringing you the latest news in the world of personal finance.

Read this next

May 10, 2019

This is how much it costs to live in Montreal in 2019

Find out how much it costs to live in Quebec’s largest city as a single person without dependents or property. Hint: i... Read more

February 25, 2019

This is how much it costs to live as a young person in Vancouver in 2019

The city’s cost of living — which consistently ranks as one of the country’s highest — has increased yet again. ... Read more

July 5, 2017

This is how much it costs to live as a young person in Edmonton in 2017

With a large influx of people in the past decade, living in Edmonton today is a lot more expensive than it once was. For... Read more

browse categories

30% of Canadian homeowners unaware they must pay extra for flood and earthquake insurance

The ultimate guide to mortgage closing costs in Canada

The ultimate guide to mortgage closing costs in Canada

There are several additional fees homebuyers should prepare for when shopping for a property — apart from a substantial down payment. Here’s a comprehensive list of closing costs.

You’ve saved the money, seen many houses, and, at last, you are ready to make an offer on a home. But as you move toward closing the sale, you’ll have to spend a bit more money. In Canada, almost all home sales come with mortgage closing costs. 

Preparing for all of them will ensure you’re not caught off guard — and soon, you’ll get to relax in your brand new home.

About the author

H.G. Watson is a writer based in Toronto. Her work has appeared in Chatelaine, Vice, Flare, Maisonneuve, The Walrus and more. You can find her at @hg_watson on Twitter.

Read this next

March 8, 2023

Canadian First-time Homebuyers Guide 2023

Becoming a homeowner is one of the biggest decisions you’ll ever make, and we’re excited to help you through it. It ... Read more

February 23, 2023

Government of Canada programs to support homebuyers in 2023

In a high-interest market, prospective buyers can use all the help they can get. Luckily, the Government of Canada offer... Read more

November 16, 2022

Everything you need to know about bridge financing when it comes to buying a home

If you haven’t reached the closing date of your current home by the time you want to buy a new one, a bridge mortgage ... Read more

browse categories

Pages