Climb Reviews, Ratings And Fees February 2023

Based on 2
Customer Reviews
55 Port Street East Unit 200
Mississauga, Ontario
L5G 4P3
  • Monday to Friday 9 am – 5 pm eastern

Who Is Climb

Climb is a Canadian company that offers short term savings loans to help consumers rebuild their credit. Their goal is to help you regain financial control by getting rid of debt and rebuilding your credit. They offer many debt and credit solutions like debt management programs, personal loans, consolidated loans and more. They also have a very popular program called the Credit Builder, which is a program that allows you to build credit and save money.  No matter what financial hardship you may be facing right now, Climb has solutions that will fit your lifestyle.

How Do Borrowers Qualify With Climb?

According to its website, Climb Credit offers a range of different financial services. Although they mainly advertise their credit building and savings loan programs, they can also provide you with personal loans, secured credit cards, and other useful tools. 

It’s always a good idea to check out all the conditions and documents that may be required during the approval process, which will vary depending on which product or service you apply for.

For example, to be eligible for one of their savings loans, you will need to:

  • Be a permanent Canadian resident 
  • Be past the age of majority in your province or territory (18-19+)
  • Be earning a minimum monthly income of $1,500
  • Not be involved in an active bankruptcy 
  • Submit to a credit check

Documents you may have to provide include but aren’t necessarily limited to:

  • 2x pieces of government identification (with your signature)
  • Your most recent bank statements
  • Your most recent pay stubs
  • A pre-authorized debit form or VOID cheque   

How Can Someone Apply With Climb? 

While Climb Credit Inc. has a head office in Mississauga, Ontario, the majority of their business is practiced online. In fact, all their products and services are outlined on their website. 

However, applying and creating an account with Climb is relatively straightforward and should only take a few minutes. Nevertheless, it may take a few days to receive whatever funds you’re approved for or benefit from one of the other services they offer. 

For more information about their programs, products, and approval requirements, simply email or call them during their designated business hours (Monday to Friday, 9 am – 5 pm EST).

What Makes Climb’s Services and Products Stand Out?

As mentioned earlier, Climb’s primary product is their credit building program, wherein you take out a small loan that, make payments toward the loan, and your payments are saved in a secured savings account until you’ve paid off the whole loan.

The main goal is to make all your payments on time so that your credit score will improve and you’ll be able to gain access to more traditional financing down the line when you need to. 

Here are a few other positive aspects of becoming a Climb member:

  • You can take advantage of free credit counselling
  • They offer flexible repayment terms of 24 – 36 months 
  • One of their programs allows you to leverage your home equity for credit
  • They can help you enter a debt management plan or file for a consumer proposal 
  • Their experts can negotiate with creditors and debt collection agencies 
  • Building good credit will help you access more favourable rates and larger credit products when you apply the future  

What Costs Could You Encounter With Climb Credit? 

Prior to signing up for any product or service that Climb provides, it’s important to consider the potential costs that may be involved. Of course, these costs might differ based on the particular solution that you choose. This way, you can factor them into your budget and hopefully avoid any further debt-related issues down the line.

For example, if you apply for one of Climb’s savings loans, you may have to consider the following associated costs:

  • The principal loan balance ($1,800 – $2,900)
  • Your interest rate (15.99%)
  • Administrative fees (loan origination, etc.)
  • Defaulting penalty fees (for short, late, or missed payments) 
  • Credit builder program fee ($300 – $400) 

Once again, it’s essential to note that Climb’s other credit products and services could include additional costs that you won’t find with their main credit building programs. Be sure to speak with one of their customer representatives to learn exactly how their solutions could affect your personal finances. 

Climb Credit FAQs

Remember, one of the best things about Climb is that they can set you up with a number of different financial alternatives, including credit rebuilding programs, secured Visa credit cards, and other helpful items. But, as with any financial decision, it’s important that you ask the right questions first. 

Is It Possible to Find Guaranteed Credit Repair?

Although Climb’s business model revolves around credit repair, what they are actually doing is allowing you to take out a loan that can act as a credit rehabilitation tool when complete your payments as scheduled. This is not a free or fast-acting service. In fact, they say it can take several months to see any real change in your credit report.   

Unfortunately, no legitimate lending institution can guarantee that your credit will be magically repaired. Beware of any “service provider” that offers you a free or 100% credit repair guarantee, it is likely a scam.

How Does a Secured Credit Card Work?

As you’ll see on their website, another product that you can access through Climb is a Home Trust Secured Visa Credit Card. Unlike a traditional card, a secured credit card requires you to put down a security deposit that’s equal to the amount of credit you desire. In this case, that amount can be anywhere from $500 to $10,000. 

Similar to a credit building program, you would ideally use this card to finance your daily expenses and your monthly payments will elevate your credit score. This is a great option because you won’t be subject to any annual fees with this card and interest rates may be lower than other credit products. In addition, you can make minimum payments to avoid defaulting or multiple payments to build credit faster every month.

What Are The Benefits and Drawbacks of Applying With Climb?

Since Climb offers so many products and services, it can be tough to know which one best suits your needs. After all, if you’re applying with this lending institution, it may be because you’ve been struggling financially and are currently in the market for a more effective debt management tool. That said, you should always weigh the benefits and drawbacks of any financial solution before you apply. 


  • Climb offers many other options to improve your current financial health
  • You can use your funds to consolidate debt and fix your credit 
  • Getting approved is easy, even if you have bad credit or poor finances
  • Good credit will earn you better interest rates and product conditions in the future
  • These solutions can put an end to debt collection penalties and harassment
  • Interest rates are fixed and easier to calculate


  • Rebuilding your credit can take time and effort
  • Further debt problems may occur if you cannot afford your loan payments
  • Debt consolidation loans may not be large enough to cover all your bills 
  • Interest rates may be higher than with other solutions

Offered Services

scroll table
Loan Range
Rate & Terms
Product Details
Requirements & Documents

Short Term Savings Loan

1800 - 2900
Interest Rate
Term (Months)
23 - 36
Funding Time
Funding Method
Repayment Options
  • Weekly
  • Bi-weekly
  • Monthly
  • Must complete and sign the loan application 
  • Must have 2 government-issued photo I.D with signature
  • Need a void cheque or pre-authorized debit 

Reviews & Ratings

See what others have to say about Climb

Their Accelerator program really helped me get back on track after I filled my consumer proposal. I hope others can find their service helpful as well... read more

- Colin (October 5, 2021)

Kind and patient customer service. They really helped me understand my credit.

- Estelle (December 16, 2019)


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