Page 17 - Sports Energy News, Cornwall, Issue No 105

www.sportsenergynews.com Issue #105 October 2021 17

Continued from page 16 nanosecond. It will rarely be correct to
SPECIAL
ANNOUNCEMENT
across the three cards equally, that is close these older credit facilities since SPECIAL ANNOUNCEMENT
each with a balance owing of $3,300, they are contributing ‘score juice.’
or 33% of the limit. Equifax Canada states your history can
have a 15% weighting on your personal
Overall, your usage remains
credit score. These credit facilities can
unchanged, but now you no longer
have an individual card reporting at become stale and may not be pulling
their weight on your personal credit
99% utilization. If you can afford to
cover or reduce the balance owing on history. Update the DLA (date of last & & &
the one with a balance of $9,900, you activity) with a modest transaction and
then pay it online immediately. If it’s a
should see a nice little score boost.
personal line of credit, just transfer $10
2. Use the Statement Date Strategy: to yourself and the next day transfer
It may be that the best thing for you to back $10.50. If you notice you have
will be
wi
ll be

do is simply reduce balances owing on credit cards that have not seen daylight wi ll be
your credit facilities. If time is of the for months or years, take them to the
WORKING
IN T
IN T
WORKING
ANDEM
ANDEM
essence, you should plan this carefully supermarket or gas station, use them WORKING IN TANDEM
and do it in the correct order. Gather up just once, and pay online right away.
your most recent available statements After the next statement these cards
for all relevant credit facilities, will report the date of last activity as
noting the day of the month when the the current month and year, and that Specializing in high performance sports teams,
statement was printed. Most of the may give you some much-needed 1 on 1 training, Adult groups & Meal plans!
time it’s the balance on that statement points.
date that is being reported to the credit We also sell monthly memberships
bureau. Give or take a day, it is safe to 5. Scour & Clean All Reporting “Invest in your health and well being”
assume that same day of the following Errors
month is when the next statement There might be some incorrect For more information contact:
will be issued. Plan your payments information in your personal credit AHEALTHYYOU8@GMAIL.COM
accordingly and allow several business history that’s needlessly dragging Certified Personal Trainer - Dante Bean

days for online payments to process in down your score. A few examples

time. If you are paying a card issued include: Certified Healthy Eating Coach
by your own bank, you should see • You have two or more personal 514-609-6862
transfer payments being processed
profiles with the credit bureau and
either instantly or overnight.
your information is scattered and Hockey Canada Announcing
3. Pay it Down and Keep it Down: diffused. Combining it all into one
This is especially important when your credit report could well increase your
limits are not very large. Suppose you score and strengthen your look. (This Fall Event Cancellations
are a model citizen who uses her credit often happens to people whose name
card frequently and pays the balance is hard to spell, or who have legally ALGARY, Alta. – Due to the each country and region being able
in full every month after receiving the changed their name). Congoing COVID-19 pandemic, to compete for a championship event.
monthly statement before the due date. • Late payments being reported the difficult decision has been made Hockey Canada is grateful for
That is the “correct way” to manage when it’s not you. Maybe you have a to cancel the 2021 National Women’s the continued support of local host
your credit—taking advantage of the Under-18 Championship, 2021 committees and event partners,
relative with the exact same name. Canadian Tire Para Hockey Cup and
grace period you are given by all card including B.C. Hockey, Hockey
issuers. These days though, there is • That router you returned to the the 2021 World Junior A Challenge. Eastern Ontario, Hockey Nova
little benefit to trying to use up the cable company is showing as a The following is a statement on Scotia, and the Canadian Junior
entire grace period because current collection; but in fact, you returned it behalf of Hockey Canada from Tom Hockey League (CJHL), as well as
account interest rates are so low, they to the local store. Renney, chief executive officer, and the communities of Bridgewater,
Scott Smith, president, and chief
are pretty much negligible. It’s far • You completed a consumer N.S., Cornwall, Ont., Dawson Creek,
better to pay your balance in full before operating officer: B.C., and all local and provincial
proposal and all the debts included
your statements come out. You are in the proposal should be reporting “Despite a strong desire to work funding partners. Our organization
even more of a model citizen, and now zero balances and should not carry an with three great communities to host is appreciative of the commitment
the balance being reported to the credit the top players at various levels across and support of all stakeholders
“R9” rating. This generally means an
bureau will always be extremely small, account has been placed for collection the country this season, the health to host these events and we look
if anything. and safety of all participants and the forward to showcasing our national
or is considered un-collectible.
communities at large continues to be championships and all participants to
4. Exercise All Dormant Credit Cards • There may be incorrect late
and Lines of Credit: Some people have of the utmost importance to Hockey fans next year.”
payments. Equifax Canada states
credit facilities they never use. People Canada. The ongoing pandemic, in Hockey Canada will continue
payment history has a 35% weighting
tend to favour one credit card (maybe on your personal credit score. addition to some international teams to work with event stakeholders
we like their rewards program) and remaining unvaccinated has left us to host the spring 2022 national
we might neglect our other cards. And Mortgage brokers can fast track an with no other option. We believe the championships and to continue to
most of the time we don’t even need investigation with Equifax Canada for decision to cancel these 2021 Fall investigate opportunities to prepare
our personal line of credit. If you are you. What might take you two months, national events is the safest decision Canadian athletes to represent
trying to maximize your credit score, it we can get done in a few days. Keep given the ongoing uncertainty of the Canada at the Olympic Winter
is good to use all available credit fairly that in mind if time is of the essence. COVID-19 pandemic at a local level, Games, IIHF World Championships
as well as the uncertainty around
and regularly, even if it’s just for a and other international events.