Davelle Morrison

Joe Sammut, Mortgage Agent at Mortgage Architects talks about the importance of maintaining a good credit score. How important is the credit report? What are some of the things you could be doing in your 20’s to make sure you have a good credit rating? Why is it important to make the minimum payments, if you cannot afford to pay the full amount on your credit card? What is a credit score out of? Why is it important to pay of your credit card balance sooner than waiting for the statement? What is a good beacon score? What is bad beacon score? Paying in cash vs. taking a loan? Which is better in the eyes of the credit score? How does using payday loans negatively affect your credit rating? How often should you check your credit rating? What are the two credit reporting agencies in Canada? What is a revolving debt? How does filing for bankruptcy or getting under consumer protection affect your credit rating?