How does it work?
The faster you build great credit, the sooner your financial goals become a reality. Score-Up is a subscription-based service which provides you with access to our proprietary credit improvement software. It allows you to take control of your credit score, providing you with real-time advice on how to spend your money to positively impact your credit score, interactive budgeting tools, analyzed credit data and scores and more. Our team of specialists will also be on hand to assist you in your credit and financial decisions. Whilst subscribing to ScoreUp, you will have access to comprehensive credit advice, credit laws, credit education & testing.
ScoreUp helps you create a target credit score based on your financial plans and credit history. Using the Target Score Simulator, receive a personalized strategy to achieve your goals, showing you which debts to pay off first, where to apply money to creditors, and how to gain valuable points. The simulator will show you how many points you could gain or lose, depending on what actions you take, before you take real-time action.
What are the minimum qualification requirements for Score-Up?
In order to qualify for ScoreUp, we have a couple of minimum requirements. Firstly, in order to be applicable, you must be in one of the following Canadian provinces: BC, AB, SK, MB, ON, NFL, NB, NS, PEI, YK. You must be a Canadian citizen or permanent resident of one of these provinces.
There are minimum age requirements depending on the province you’re from: BC, NB and NS must be 19 years old. AB, SK, MB, ON, PEI and YK must be 18 years old.
How does Score-Up help me qualify for lower interest rates from the bank?
Major banks lend based on your financial history and your credit score. This information provides banks with information on how likely you are to pay them back. The higher the score, the better. When using Score-Up’s recommendations and budgeting app, it will ensure you are effectively paying of the right bills, for the right amount, and at the right time. Your higher credit score shows you can manage your money well, meaning they are more likely to offer you a lower interest rate.
Do I get a walk-through of the Score-up software?
Of course! Our Score-Up credit boosting technology has many different tools for you to use to help boost your score. Our Credit Expert will show you exactly how to use all features Score-Up has to offer such as our Point Deduction Technology, Target Score & Money Simulator, Credit Monitoring and Errors & Omissions Tracking in order to help you maximize credit-building power.
Why are credit scores important?
Most people don’t realize how important their credit score is until they come across a financial product they can’t obtain, due to their low score. A credit score is a three-digit number ranging from 300-900, based on a level analysis of a person’s credit files, to represent the creditworthiness of an individual. It’s a temporary snapshot of your credit report at the time of your inquiry took place and changes frequently. Having a low credit score can affect your chances of obtaining a personal loan, car loan, mortgage or even sometimes, renting a place or obtaining a cellphone contract.
The beauty of a credit score is that there are always ways you can improve it. Whether you’re looking for a way to boost your score a few points in order to qualify for that much-needed loan, or trying to qualify for lower interest rates, longer repayment periods on loans and even a better chance of getting approved for other financial products you’re interested in.
When you’re in a consumer proposal, it significantly impacts your credit score. Once you exit using our FastTrack loan you will see an instant increase between 30 – 70 points. Complimenting this with our ScoreUp product and changing your spending habits, your score will continue to increase and help you on your way to a positive financial future.