Surina Hart, Quinte Real Estate Broker Royal LePage | MLS listings for Belleville, Brighton, Cramahe, Quinte West, Trenton & Prince Edward County

The 5 C’s of Credit

Friday, Jan. 01 2010  |  Posted by: Surina  |  0 comments

• Capacity - Cash Flow, Income
• Collateral - Auto, Real Estate, RRSP's
• Credit - Worthiness - Credit History, Repayment
• Character - Financial Maturity 
• Capital - Financial Reserves, Net Worth

Credit report companies

1. Equifax
2. Trans Union

Information Needed to request a Credit Report

1. Full name
2. Address
3. SIN
4. Date of Birth
5. Employment
6. Written permission for anyone to view or request your credit report

Reminders

1. Get credit established early. 18 years of age!
2. Only have a credit check done when you decided to purchase on credit
3. Limit the number of inquires to your credit report
4. Never Ever miss a payment date
5. Keep you balance about 50% or less of your limit
6. Know the terms and conditions of your credit
7. If you can't afford it now don't buy it
8. Respect the use of credit
9. Be knowledgeable of what the costs are
10. Don't live beyond your means
11. If you don't pay now........later might really cost you
12. You work hard for your money, don't give it away
13. Credit is not an income or early pay cheque - Make sure you take care of your responsibilities first
14. Save your money and pay cash
15. Use credit wisely

Michele Hunter
Your Local HLC Mortgage Specialist
p.613-965-0499

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