Today there are thousands of people in Canada who are suffering with poor credit situations and desperately searching online for bad credit loans Canada in a hope to get loan on best rates and terms. Most of the online lenders deal in high rates short terms loans that clearly means borrower can end up asking for a very bad credit loan after one in case he/she doesn’t afford it on first place. Although in such situation, secured loan option mostly works but for those who have some assets to pledge.
Your credit history is the major factor that determines not even interest rates but approval of your loan. A good credit rating is required to obtain lenders best rates for mortgage loans, personal loans, credit cards and other kinds of credit facilities. There is a significant difference between no credit history, also known as an un-established credit and bad credit history, but when applying for a loan, most of the lenders adversely treats both of these credit situations nearly same way. That’s why it’s important for all the borrowers to establish their creditability first before applying for loans and if you are suffering from bad credit situation then you have to re-establish your credit rating by fixing bad credit and improving your credit score. Can I get a loan with bad credit in Canada that helps me in fixing credit while my savings grow? Yes, through GIC Investment Loan, it offers value added options to people looking for bad credit loan in Canada; you can get a loan with bad credit through Credit Repair Loans that can turn your bad credit situation into good one while fixing credit and building up a savings account for you to secure your future.
Comparing available bad credit repair Canada options with the GIC Investment Loan that may help an individual in establishing and fixing credit:
As there are various types of financial help available in the market today that can fix your credit and prepare you to get bad credit loan Canada, but the most famous and widely used way to repair credit that people have been taken in the past is a secured credit card, it can help you in fixing credit and can remove your bad credit history to obtain a best rate loans in future but most of these cards holds high rates and demand cash “upfront” before receiving a secured credit card for you.
Can I get a loan with bad credit in Canada that helps me in fixing bad credit while my savings grow through secured credit cards? No, although a secured credit card can help rebuild bad credit but it will not provide you bad credit loan, in the past one of the only options to rebuild your credit was getting a secure credit card, what it basically do; it help you in demonstrating your perfect repayment history to all the major credit bureaus by involving your money and efforts with its assistance to work on at least two or more accounts for a certain time that may take two years or so. There are variety of financial institutes offering secured credit cards that you can easily get and use them to do the job like Home Trust’s , TD’s or else. But when we look at the reality of a bad credit borrower’s financial situation it felt that applying for a secured credit card to re-establish, re-build or repair credit profile seems to be another burden because these cards typically charge high interest rate and fees as they are secured and also require the borrower to come up with the cash “upfront” before receiving a credit card. Although, it will improve your credit score to obtain a loan but on high initial expenses that you have to wait and watch to come up with a status where you can apply for lenders fast approval on best rates in Canada.
GIC Investment Loans (Credit Repair Loans)
What is a GIC investment loan? Also known as GIC loan, GIC savings loan or Credit Repair loans! It’s a new concept of financial relief that has been introduced by LendIt Financial through GIC investment loan or best described as a credit repair loans, although it’s not a credit repair company but helping Canadians to build better financial future, what it asks borrowers to pay fix amount of regular and affordable monthly payments against its credit facility, these payments are then reported to the credit bureaus to help you in building and maintaining your perfect repayment history; if you follow, you will observe a noticeable improvement in your credit score in short span of time. Invest your loan in a secure GIC (Guaranteed Investment Certificate) today! No problem, if you have little or no credit, bad credit or even very bad credit history and or past critical issues like bankruptcy or a consumer proposal, it allows you to jumpstart your financial savings, earn interest on your investment while fixing and re-establishing your credit.
Can I get a loan with bad credit in Canada that helps me in fixing bad credit while my savings grow through GIC Investment Loans or credit repair loans? Yes, it not even provides loan for people with bad credit in Canada but also help fixing bad credit score with an intension to prepare such group of needy consumers either having new or critical credit history to apply and get best rates for all types of future financial credit requirements and loans like personal loan, home loan, car finance, credit cards, and other.
How Lendit GIC Investment Loan Works
- Your loan is automatically invested into a GIC in your name.
- Your investment is insured by the CDIC to keep your money safe.
- Your repayment history is reported to credit bureaus to help building your credit rating.
- Your loan interest rates are only 12.99% per annum, much lower than secured credit cards or bad credit card loans available in the market.
- Your loan is offered with three options to fit your budget: $2,300, $3,200 or $5,500.
- Your loan permits you to access cash during the term of your loan that based on the equity you’ve built up in your GIC.
- You get full access to your GIC plus interest at the end of the loan term.
- Moreover, Lendit GIC Loans are available even if you have not been discharged from bankruptcy or are still making payments under a consumer proposal.
|“Based on your financial goals, you can choose a loan that’s right for your goals; save for a vacation, education, payoff debt, or put a down payment on a home. Lendit’s GIC Investment Loans currently offer, Credit Brite Loan for $2,300 on 3 years term, Credit Brite Loan Plus for $3,200 on 3 years term and Credit Brite Home Loan for $5,500 on 5 years term on affordable fixed monthly payments on amortization basis (GIC principal + interest you’ve earned during the term) to help you jumpstart your savings plan while you re-establish your credit history in a financially safe way.” It’s simple and easy to apply online and your approval can be obtained within 24 hours. For more information, terms & conditions and guidance you should visit the official website.
Lendit Financial review has been written with an intention to help those individual require bad credit loans but facing no credit or poor credit situation. Where it not even provides affordable savings loan to borrowers having any type of credit history but also help them to establish and maintain their credit through the successful repayment of their loan. Fixing bad credit or establishing new credit will definitely improve creditability of an individual to enjoy all the future benefits as a good credit holder. Where providing comparison with the other credit repair Canada options available in the market today, is to highlight those special features that make it unique with the rest of others in the row. Either you may not have any credit history and looking for no credit loans like a new Canadian or may have been suffering from negative credit rating even like bankruptcy, and or making payments under your consumer proposal. This financial product can help you in providing you with reasonable loan amount for 3 to 5 years terms on affordable fixed monthly payments beside opening up a GIC investment account on your name will enhance your personal financial creditability to enjoy better financial future. You can get a loan with bad credit in Canada from Lendit Financial that will help you in fixing credit while your savings grow!