Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Refresh is a credit building lender for people who’ve got the short end of the stick in life. In their effort to help Canadians get control of their financial situation, Refresh Financial provides two credit building products. These products are the Credit Builder Loan (formerly known as the Cash Secured Savings Loan) and the Refresh Secured Visa Card. Each product is meant to help you get the cash you need while building your credit. All payments made are reported to the credit bureaus to help build your credit score.
Refresh Financial’s main products are credit builder loans and secured credit cards. As such, the strength of your credit will be less of an issue when you apply. Instead, their approval process is based more on your finances. For instance, you may have an easier time qualifying with Refresh Financial if you:
In the end, qualifying with Refresh Financial is all about your ability to cover your future payments, interest rate, and associated product fees. This is particularly true when it comes to their credit builder loans, where the stronger your application and finances are, the more likely you will be to get approved for a larger amount of financing.
A Refresh Financial secured credit card, on the other hand, will require you to provide a security deposit of $200 to $10,000 in order to qualify. Essentially, your deposit is how much credit you’d like to have access to and will be returned once your repayment plan ends and you’ve paid off any remaining costs.
As mentioned, the strength of your application is particularly important when it comes to applying for one of Refresh Financial’s credit building products. Luckily, the process can be completed online from almost any province in Canada (with the exception of Saskatchewan). You can also call their customer service for more information. Otherwise, you may need to provide the following documents in order to qualify:
Before you apply, keep in mind that you might have to provide other documents if you’re applying for a large amount of financing. Don’t hesitate to ask a Refresh Financial representative about the conditions of their application process. Once your repayment plan begins, any monthly payments (including interest and fees) will be automatically debited from your bank account, following an email notification 7 days prior.
Now that we’ve uncovered their application process, let’s talk about some of the things that make Refresh Financial stand out. For example, Refresh might be the right credit building lender for you because:
Although a credit builder loan be the perfect solution for your finances and credit score, it’s very important to consider the costs that may be associated with these types of credit products, such as:
Overall, the amount you end up paying for your Refresh Financial plan will depend on how much money you’ve borrowed, how you handle your upcoming payments, how long your repayment plan lasts and, of course, what kind of product you’re applying for.
Before you apply, always consider these potential costs, because taking on a debt that you cannot afford can harm your finances and credit score in the long run. Be sure to contact a Refresh Financial representative to discuss their available solutions if you think you’re about default on your repayment plan in any way.
Loan Range | Rate & Terms | Product Details | Eligibility | Requirements & Documents | |
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Credit Builder Loan | $1,250 - $10,000 |
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Got my credit rating moving upwards as promised.
I had an amazing experience with Refresh. Great staff friendly and always quick to respond to any questions or concerns. It helped build my credit sco... read more
Absolutely the best at helping your credit and to help build it. I have a credit building loan and a secured credit card with them and i love it. It r... read more
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Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
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