Canadian Press Article: Biggest mistakes that could tarnish, or even tank, your credit rating

Want to know the biggest mistakes that could tarnish, or even tank your credit rating?

Even if you’re good with your finances, you may not realize that small actions can prevent you from getting the best interest rates on big purchases, like buying a new home.

The Canadian Press recently interviewed me on this topic and it was picked up by other news outlets.

The above podcast episode was an interview with Bryn Griffiths from 630 CHED radio in Edmonton about how different things can affect people’s credit ratings and how to avoid making common mistakes.

I’m excited to share my best tips for keeping your credit in good standing.

You’ll learn:

  • Why disputing or missing payments on phone, gym memberships and retail credit cards can cause problems in the future.
  • How even small missed or late payments on your credit card can impact your credit score.
  • Why it’s so important to pay attention to your credit score and access your credit reports on a regular basis.
  • What to say and not to say to your bank to get a lower interest rate.
  • Why you need an emergency plan, not an emergency fund.

CLICK THE LINK BELOW TO READ THE ARTICLE BY NINA DRAGICEVIC:

Biggest Mistakes That Could Tarnish, Or Even Tank, Your Credit Rating

FIND YOUR FAVOURITE NEWS OUTLET HERE:

Financial Post

Toronto Star

Toronto CityNews

Winnipeg Free Press

Regina Leader-Post

Calgary Herald

Peterborough Examiner

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2 Comments

  1. Ed Rempel on November 30, 2023 at 9:15 PM

    Hi Miranda,

    I agree it’s unfair, but it is legal. And they disclose it in their fine print.

    This happened to a client.

    If you flip over your credit card bill or look at the original paperwork they sent you when you first received the card, it

    Here is a post about it: https://edrempel.com/small-print-gotcha-in-credit-card-interest-hint-it-can-be-20000/ .

    Ed



  2. Miranda J on November 30, 2023 at 8:56 PM

    I wonder if this story about the missed credit card payment of $10 and subsequent charges of $10,000 creating interest charges of $200 is true? Can a credit card company really do this? Legally ??

    When credit card purchases are made after the previous month’s bill has been paid, there are no charges until after the statement period … seems very unfair for a small missed payment!



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