Written by Bryan Daly

Best Credit Improvement Quebec (Online) January 2021

Lender directory

Compare the best lenders in this region

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
100	1600646400	$1,000 - $3,000	12.99% - 22.99%	24 - 60	$1,000 - $3,000
100	1598918400	$1,000 - $15,000	-	-	$1,000 - $15,000
100	1595980800	$200 - $1,200	25% - 32%	-	$200 - $1,200
11	1593561600	-	0+	2 - 60	-
100	1592438400	$250 - $1,250	22%	3 - 6	$250 - $1,250
100	1582243200	-	-	Up to 60	-
100	1580947200	-	-	-	-
7	1580860800	$500 - $5,000	-	12 - 24	$500 - $5,000
100	1580860800	$350 - $1,000	-	2 - 12 weeks	$350 - $1,000
100	1580860800	$250 - $1,250	22% APR	-	$250 - $1,250
2	1580860800	$1,600 - $25,000	9.47% - 20.07% APR	36 - 60	$1,600 - $25,000
10	1580774400	$1,000 - $25,000	7.5% - 31.5% APR	36 - 60	$1,000 - $25,000
100	1579478400	$100 - $1,500	-	-	$100 - $1,500
100	1579478400	Up to $3,200	-	-	Up to $3,200
100	1579219200	$100 - $25,000	+4.9%	-	$100 - $25,000
100	1576713600	-	Up to 35%	-	-
18	1576713600	$500 - $100,000	6.99% - 14.99%	12 - 240	$500 - $100,000
100	1611658000		-	-
100	1575590400	1800- 2900	15.99%	23 - 36	1800- 2900
13	1560124800	Up to $15,000	29.99% - 46.96%	9 - 60	Up to $15,000
100	1551830400	$100 - $1,000	546% APR	14 days	$100 - $1,000
100	1569974400	$500 - $50,000	15 - 30%	-	$500 - $50,000
100	1551398400	$500 - $1,000	28% - 32%	-	$500 - $1,000
100	1551139200	$5,000 - $35,000	9.9%+ APR	36 - 60	$5,000 - $35,000
100	1550534400	$300 - $25,000	7.95%+	36 - 60	$300 - $25,000
100	1550534400	Up to $30,000	28% - 32%	1 - 3	Up to $30,000
100	1550534400	$300 - $1,000	38% APR	3 - 4	$300 - $1,000
100	1549411200	$100 - $1,000	546% APR	14 days	$100 - $1,000
100	1567555200	$300 - $1,500	32% APR	3 - 5	$300 - $1,500
100	1549238400	$500 - $1,000	28% - 32%	4 - 5	$500 - $1,000
100	1549238400	$250 - $1,000	29% APR	3 - 4	$250 - $1,000
20	1548720000	$500 - $1,000,000	12%	12	$500 - $1,000,000
1	1543622400	Up to $35,000	26.99% – 39.99%	6 - 60	Up to $35,000
3	1545177600	$2,000 – $10,000	34.9% – 43%	12 - 60	$2,000 – $10,000
100	1545350400	Up to $1000	30%	3 - 5	Up to $1000
100	1545350400	Up to $5,000	60%	6 - 60	Up to $5,000
100	1545350400	Up to $3,000	22% - 35%	3 - 4	Up to $3,000
100	1545350400	$500-$1000	28%-32%	3	$500-$1000
100	1545350400	$300 - $1500	27% - 35%	3 - 4	$300 - $1500

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
100	1598918400		-	-
100	1592438400	-	-	-	-
100	1585612800	-	0.9% - 12%	6 months - 5 years	-
100	1581984000	$10,000 - $10,000,000	6% - 12.5%	-	$10,000 - $10,000,000
100	1581033600	-	-	-	-
100	1581033600	-	-	-	-
100	1581033600	-	-	-	-
100	1580947200	-	-	-	-
100	1580947200	$10,000 - $1,000,000	-	-	$10,000 - $1,000,000
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	$5,000 - $1,000,000	-	-	$5,000 - $1,000,000
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	up to $250,000	-	-	up to $250,000
100	1580860800	-	-	-	-
100	1580688000	Up to $10,000	-	-	Up to $10,000
100	1580256000	$5,000 - $500,000	-	6 - 18 months	$5,000 - $500,000
100	1579478400	-	-	-	-
100	1579478400	-	-	12 - 120	-
100	1579478400	-	-	24 to 60	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1579046400	-	-	-	-
100	1577059200	-	-	-	-
100	1577059200	-	-	-	-
100	1577059200	-	-	-	-
100	1575849600	$5,000 - $150,000	15% +	6 - 24	$5,000 - $150,000
100	1575590400	-	-	-	-
100	1575590400	-	-	-	-
1	1545955200	$5,000 - $150,000	Fee-Based: Starting at 9%	12 - 60	$5,000 - $150,000
100	1541030400	Up to $35,000	-	-	Up to $35,000
100	1552262400	Up to $250,000	-	Up to 10 years	Up to $250,000
100	1552262400	-	-	-	-
100	1552262400	Up to $1,000,000	-	-	Up to $1,000,000
100	1551830400	Up to $100,000	-	-	Up to $100,000
100	1551830400	$10,000+	-	Up to 15 years	$10,000+
100	1551830400	Up to $1,000,000	-	Up to 15 years	Up to $1,000,000
100	1551830400	Up to $500,000	-	Up to 10 years	Up to $500,000
100	1551830400	$5,000 - $10,000	-	Up to 7 years	$5,000 - $10,000
100	1551398400	$10,000 - $1,000,000	4% - 14%	12 - 84	$10,000 - $1,000,000
100	1551139200	Up to $75,000	-	Up to 18	Up to $75,000
100	1550534400	$500-$50,000	0.5% weekly	12 week cycles	$500-$50,000
100	1550534400	$1,000 - $1,000,000	6% - 20%	-	$1,000 - $1,000,000
100	1550534400	Up to $5,000,000	4.5%	24 - 72	Up to $5,000,000
100	1550534400	$5,000 - $200,000	-	-	$5,000 - $200,000
100	1549411200	$50,000 - $12,000,000	-	24 - 96	$50,000 - $12,000,000
100	1549411200	$5,000 - $1,000,000+	-	1 - 60	$5,000 - $1,000,000+
100	1549238400	$5,000 - $1,000,000	-	3 - 24	$5,000 - $1,000,000
100	1548720000	$5,000 - $5,000,000	-	4 - 18	$5,000 - $5,000,000
100	1548720000	$10,000+	18% - 22%	-	$10,000+
100	1548720000	$10,000 - $300,000	4.70% - 5.45%	-	$10,000 - $300,000
100	1548633600	Up to $5,000,000	5% - 10%	12 - 60	Up to $5,000,000
100	1545264000	$5,000 - $150,000	-	3 - 24	$5,000 - $150,000
100	1545350400	$5,000 – $100,000	15% +	12 – 18	$5,000 – $100,000
100	1545177600	$5,000 – $500,000	Starting at 5.9%	3 – 60	$5,000 – $500,000
100	1561507200	Up to $300,000	-	-	Up to $300,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
100	1600646400	$1,000 - $3,000	12.99% - 29.99%	12 - 72	$1,000 - $3,000
100	1594339200	-	-	-	-
100	1581033600	-	+ 4.9%	-	-
100	1581033600	-	-	-	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1578873600	-	+8.99%	-	-
100	1578873600	-	-	-	-
100	1551830400	$5,000 - $10,000	-	up to 84	$5,000 - $10,000
100	1552262400	Up to $250,000	-	12 - 60	Up to $250,000
100	1552262400	Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1551830400	Up to $100,000	-	6 - 96	Up to $100,000
100	1551830400	$10,000+	-	12 - 96	$10,000+
100	1551830400	Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1577059200	-	-	up to 72	-
100	1577059200	-	-	-	-
100	1575849600	$5000 - $45,000	4.90 % - 29.95% APR	36 - 72	$5000 - $45,000
100	1575849600	-	-	-	-
100	1575590400	-	-	-	-
100	1575590400	-	-	-	-
100	1575504000	-	-	-	-
2	1569974400	$7500 - $59,995	3.95% +	12 - 96	$7500 - $59,995
100	1562112000	-	Up to 49.9%	-	-
100	1561507200	-	-	-	-
100	1561507200	-	-	Up to 84	-
1	1560124800	$500 - $35,000	$29.99% – 46.96%	9 - 60	$500 - $35,000
100	1548720000	-	-	-	-
100	1548633600	-	4.2%+	-	-
100	1545177600	$5,000 – $40,000	-	12 – 72	$5,000 – $40,000
100	1545177600	-	-	Maximum 84	-

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
100	1545264000		Up to $25,000	-	12 - 60	Up to $25,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
100	1581033600	-	2.74% - 6.30%	12 - 120	-
100	1580947200	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	2.64% - 4.45%	12 - 120	-
100	1580860800	$50,000+	2.74% - 3.49%	12- 120	$50,000+
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1579478400	-	2.74% - 3.70%	6 - 120	-
100	1578873600	-	-	-	-
100	1578873600	-	2.69% - 3.95%	6 - 120	-
100	1577059200	$25,000 - $800,000	4.59% - 5.64%	6 - 60	$25,000 - $800,000
100	1577059200	-	-	-	-
100	1577059200	-	2.84% - 7.30%	-	-
100	1574985600	$100,000 - $750,000	-	12 - 120	$100,000 - $750,000
100	1574899200	min 25,000	4.99% - 5.59%	6 - 60	min 25,000
100	1574899200	-	2.23% - 4.45%	-	-
100	1560124800	-	2.89% - 3.79%	-	-
100	1548720000	-	2.41% - 3.84%	-	-

		Services	Rating
0	0	Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation	N/A (Intermediary) Debt Consolidation Program, Debt Settlem...
100	1576540800	Credit Counselling, Bankruptcy, Consumer Proposal	Credit Counselling, Bankruptcy, Consumer...
100	1576540800	Bankruptcy, Consumer Proposal	Bankruptcy, Consumer Proposal...
100	1576540800	Credit Counselling, Debt Management Program	Credit Counselling, Debt Management Prog...
100	1576368000	Credit Counselling, Debt Management Program	Credit Counselling, Debt Management Prog...
100	1576454400	Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring	Debt Restructuring, After Care - Credit ...

For many borrowers in Quebec, it will be necessary one day to apply for a personal loan, credit cards, or even a mortgage. While any of these products can be harmful to your finances when not managed properly, they can certainly benefit you when you use them responsibly.

Want some more information about loans in Quebec? Look for it here.

Credit improvement is essential when you’re trying to live a healthy financial life. Having bad credit not only makes you look like an untrustworthy borrower, but it also causes high-interest rates and worse, potential debt in the event that you do manage to secure a credit product of any kind. So, before you start applying for any credit product and are looking for help with credit improvement in Quebec, we have the advice you need.

Elements that Damage Your Credit

Before we delve into the ways you can improve your credit in Quebec, it’s best to learn about the habits that can harm it in the first place. This way, you should be able to fix your credit once it’s been damaged and hopefully improve your financial habits in the future.

To see how bad credit can affect your daily life, check out this infographic.Some of the main causes of damaged credit include, but aren’t limited to:

Making late or short payments, missing payments completely or defaulting on your loan in some other way, particularly when it comes to your credit card bills.
Your credit utilization ratio (the amount of debt you carry vs. your available credit) is too high. It’s recommended that you stay below 30-35% of your credit limit.
Carrying too much debt in general, spread over many accounts. Make sure to learn about your debt-to-income ratio.
Applying for new credit numerous times within a few months, as every hard inquiry into your credit report drops your credit score by a few points.
Filing for consumer proposals, bankruptcies, and other financial delinquencies.
Not correcting any errors you may have missed on your credit report.
Cancelling old credit cards and applying for new ones just because they offer “perks”. The older and healthier your credit accounts are, the better.

Want to know what kinds of people can see your credit report? Find out here.

Credit Score Ranges

One of the best ways to help with credit improvement in Quebec is to know what qualifies as a good and bad credit score. Your Canadian credit score ranges from 300-900 and is one of the main ways that a lender can judge your creditworthiness.

Good Credit Score (680 – 900)

A credit score of 680 or higher means you have good credit, along with the best chances of approval and the lowest interest rates for any future credit products. While you can still be approved if your score is lower than 680, your approval chances and interest rate could be worse, particularly on more expensive products, such as mortgages and car loans.

Click here to learn what the minimum credit score for mortgage approval in 2018 is.

Bad Credit Score (300 – 620)

When your score falls below the 620 mark, you’ll be entering the bad to terrible credit range. If you are at that level and need a loan (or other product) quickly, don’t worry, there are plenty of bad credit lenders in your area. However, before you apply for a bad credit product, it’s once again important to factor in the probability of higher interest rates and more strict payment terms. Understandably, your lender needs to take the proper precautions when lending to a client who, at least in their eyes, may have trouble keeping up with their payments.

To learn more about how your credit score is calculated, click here.

Information Contained Within Your Credit Report

A credit report is a collection of all your credit-related activity over a certain number of years. You can request a free yearly copy of your report from either of Canada’s two main credit reporting agencies (Equifax and TransUnion). Doing this is a good way of checking your financial health and dispute any incorrect information that may also be damaging your credit score, both of which can help if you’re interested in credit improvement in Quebec. Lenders may also examine your report whenever you apply for a new credit product, such as an installment loan, to judge your approval chances.

Read this to know how long information stays on your credit report.

Lenders will also use your credit health as a basis for which to calculate the interest rate they’ll give you, if and when they approve your application. Some other elements contained within your report include your:

Personal profile/information
Credit score (which you yourself can request for a small fee)
Credit rating
Payment history
Record of delinquency (if any)

What’s the difference between your credit score and rating? Discover the answer.

Factors That Affect Your Credit Score

Changing Your Spending Habits For the Betterment of Your Credit

If your credit needs a lot of improvement, don’t worry. It’s always possible to reverse your bad credit situation. However, it does take a lot of hard work and dedication. Here are some changes in your spending habits that you should be committed to:

Paying all your credit account bills on time and in full – This includes credit cards, lines of credit, mortgages, or any other credit products you’re actively using. Any of these products can come with a steep penalty for any short, late or missing payments.
Increasing your income – Asking for a raise or finding a second job, while not always convenient, can be extremely beneficial when you’re trying to stay out of debt and keep your credit healthy.
Creating a proper budget – If your unhealthy credit is caused by financial disorganization, you can stay on track is by budgeting efficiently. Your budget should contain all your regular monthly expenses, even if some of those costs are only estimations. This will also help you decide which credit products will benefit you and which ones only cost you more.

Need more debt management tips? Take a look at these.

Products For Credit Building and Credit Improvement In Quebec

Often enough, improving your damaged credit is easier said than done. Your own credit may have even gotten to the point when fixing it by yourself is not a possibility. In that case, there are a few credit building and improvement products in Quebec that you can take advantage of, including but not limited to:

Secured credit cards
Credit Rehabilitation Savings Programs
Credit counselling

How is a secured credit card different from a prepaid credit card? Find out here.

Frequently Asked Questions

Will canceling my credit card improve my credit?

No. Doing so will likely worsen it. Credit scores are based (in part) on having a track record of accounts in good standing. Canceling a card removes that established history from your credit report. If you feel tempted by having too much credit, consider lowering the credit limit on your cards instead of canceling them outright.

How can I improve my credit when I can’t be approved for anything?

Beyond repaying your debts, improving your credit takes a long-term approach. One way is to save up a security deposit for a secured credit card and use that card for your monthly expenses. Credit rehab savings programs, credit counseling, and debt consolidation programs are other options as well.

Do credit checks affect my credit score?

It depends. Lenders can see all recent credit checks on your credit report that are “hard hits”. These can occur from loan applications and even job or rental applications. Too many hard hits will hurt your score and will give lenders the impression that you are desperately seeking credit or trying to spend beyond your means. “Soft hits” are when you order your credit report or when credit companies use it to update their records. Those do not appear on your report or affect your credit.

Need to Improve Your Credit? Start Today With Loans Canada

If you’ve been looking for ways to build or improve your credit in Quebec, we have good news for you! The Loans Canada Team is always around to help you get connected with the right debt management solutions and credit improvement products for your needs.

Get Started