rebuild and solidify your borrowing power
The need to build credit is increasing over time for every consumer in the Okanagan. This is mainly because whenever you visit any creditor, they will inquire about your credit history. Moreover, every lender, be it your employer, landlord or bank, always gives preference to people with high credit scores as they only want to lend money if you're a person with minimum risk involved. So, if you've faced bad debts in Penticton or the South Okanagan in the past and are now planning to rebuild your credit, you are actually aiming to increase your credit score. If you have bad credit, your credit score will be very low, while a high credit score means you are excellent at repaying loans on time. With a bad credit report, it will also automatically mean that you cannot qualify for loans. In fact, even if you have an average credit history, you might get the loan, but will have to pay very high interest rates for it. Not to worry though, it's never too late to make amends. Let's check some steps on how to rebuild your credit after a fall.