Why Get a Prepaid Canadian Credit Card?

Also known as secured credit cards, prepaid Canadian credit cards are especially created for residents of Canada. It is interesting to note that there is a difference between secured credit cards and prepaid cards. One major difference is that a prepaid credit cardholder is not given a credit line.

Instead, the prepaid cardholder is required to submit funds to his/her account to be able to use the card for purchases. On the other hand, a secured credit card provides its holder with a credit limit just like a regular credit card.

However, in order to get approved, the cardholder must first submit a security deposit to his/her account which will be used in case of defaults in payments. This gives the credit card issuer the assurance that the cardholder will not default his/her debts.

Below are the four main reasons why Canadians may opt to apply for a prepaid Canadian credit card.

1. Get a guaranteed approval. Those who cannot get approved for a standard credit card can be sure to get a guaranteed approval with a prepaid credit card. In fact, you can be sure to get a prepaid credit card in Canada regardless of your credit score.

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see related resources : credit cards for Canadians

Bad Credit History - One Of The Basis in Hiring An Employee

Not many people reason pay attention to their credit history. Others may say that they don’t need to build credit since they have no plans of getting a loan or a mortgage anyway. But even if you don’t need to apply for a loan today, you may need to do so in the future.

But more than just enjoying lower rates and getting easy approval from lenders, your personal credit history plays a crucial role in getting an employment. If you’re a student in college, have you thought about building your credit history? If you haven’t considered it yet, it’s about time to start thinking about your future employment.

How Your Credit History Can Affect Your Job Choice

In the corporate world, companies and employers check individual credit reports before hiring a worker. Yes, it’s not just about good academic grades and training. Your credit status can also make or break your future in a respected company.

This is not only applicable for executive job levels. Even regular jobs now require good credit. In fact, a survey conducted by Harris Interactive for Spherion Corporation (a recruiting firm) reveals that more and more employers today screen their applicants based on their credit history. Statistics show a 55% increase in the number of employers who inquire credit reports.

Continue reading Bad Credit History - One Of The Basis in Hiring An Employee

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