Secured Savings Loan

Is a low credit rating keeping you from getting a loan?

Refresh Financial can help you improve your credit rating so you can qualify for that loan with us in the future.

 

What is a credit rating?


A credit rating is a three digit number between 300 and 900, but it’s more than just a number. Think of it as your “credit resume”- your reputation and experience in the past with borrowing and repaying.

How do you get the best credit rating?

Always pay on time

Beware of high balances

Older is better

Even if you can’t repay the entire balance, make the minimum payment on time.

Balances that you keep for longer than a month should be kept low - below 70% of your limit is best. 

A long standing credit history helps improve your credit score. This includes 2 components: the longest piece of credit and the average age of your credit

How do you get the best credit rating?

Always pay on time

Even if you can’t repay the entire balance, make the minimum payment on time.

Beware of high balances

Balances that you keep for longer than a month should be kept low - below 70% of your limit is best. 

Older is better

A long standing credit history helps improve your credit score. This includes 2 components: the longest piece of credit and the average age of your credit

You can take charge of your financial future

 

Why Refresh Financial?

 92%

rebuilt
credit

95%

applicants
approved

 50%

rebuilt credit
after bankruptcy

30%

approved for other
loans in 6 months

 89%

recommend
 Refresh Financial

About Refresh Financial

Will I be approved - even with bad credit?

Yes! A Secured Savings Loan is designed to help everyone. Even if you have bad credit or even no credit, you are still eligble for our Secured Savings Loan.

Do qualify if I am not yet discharged from bankruptcy or finished making payments in my consumer proposal?

Yes! If you plan on obtaining financing after your bankruptcy or consumer proposal, re-establishing your credit will be required before lenders will consider you for financing. The Secured Savings Loan is a great way to start rebuilding your credit history after bankruptcy or consumer proposal.

How does the Secured Savings Loan benefit me in the long run?

Having strong credit will qualify you for better loans with friendlier interest rates, saving you thousands in interest costs. With improved savings, you will also have the funds available to go on vacation, go back to school, put a down payment on a car, or to help purchase a home.

How does the Refresh Secured Savings Loan build credit?

The Refresh Secured Savings Loan will show up on your credit bureau as an installment loan. As you make your regular payments on time, your credit report will reflect the responsible management of your installment loan.

What customers are saying

 

“I had previously had difficulty obtaining a loan due to a credit score of 0. In a few months, I am proud to say that my credit is now in a position that is allowing me to qualify for a loan with easyfinancial. I’m thrilled about my new found credit and am using my funds to buy a car. I look forward to building my credit thanks to Refresh!”

Dawn
St. Martins, New Brunswick

 

“A client went into our branch in hopes of getting a small loan. She was unfortunately declined, due to a poor credit rating. On April 26, the client was approved for her first easy financial loan! Branch 2535 has really seen the value in the Refresh Secured Savings Loan, and is working hard to make more of these happy sales calls!”

Branch 2535
Pembroke, Ontario