Pat Drummond

Pat Drummond is the author of Credit Reports Canada and considered by many to be one of the leading experts on productivity and simplicity in relation to financial planning. He started this online credit score & reporting site to chronicle and share what he’s learned in over 20 years of counseling families and individuals on debt management, obtaining loans and improving credit scores.

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Pat Drummond's Latest Posts

Does closing a credit card affect your credit score?

Filed in Credit Score by on September 3, 2013 0 Comments
Does closing a credit card affect your credit score?

Your credit score is made up of many factors and is constantly changing and updated. Sometimes our credit score will fall, at other times; it will increase or stay the same. As Canadians, we all know that our credit report and score needs to be healthy in order to obtain loans, mortgages and get lower […]

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How Does Marriage Affect Canadian Credit Scores?

Filed in Credit Score by on August 28, 2013 0 Comments
How Does Marriage Affect Canadian Credit Scores?

If you have just married or will be doing so in the near future, you have probably given some thought to how your union will affect your credit score in Canada. Does the credit rating of your spouse affect yours, and vice versa? Getting married means combining everything in your life, but does that extend […]

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What are the Benefits of Credit Monitoring?

Filed in Credit Monitoring by on August 26, 2013 0 Comments
What are the Benefits of Credit Monitoring?

Credit monitoring services are in place to provide you with information about your credit history, most notably when suspicious activity takes place. The type of activity they generally report includes an increase in credit card usage, new accounts being created, suspicious spending activity, credit inquiries, purchases made in unlikely locations, delinquencies, and a whole lot […]

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How to choose a credit monitoring service?

Filed in Credit Monitoring, Credit Score by on August 23, 2013 0 Comments
How to choose a credit monitoring service?

Choosing to regularly monitor your credit reports is a smart financial decision. Your biggest problem will likely come in deciding which of the hundreds of different credit monitoring services to use. Most only offer services to residents of the US. Read on to get some tips that should make the decision a whole lot easier. […]

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How Long Will Personal Bankruptcy in Canada Stay on My Credit Report?

How Long Will Personal Bankruptcy in Canada Stay on My Credit Report?

There is no easy answer to this question, as there are a number of different factors that come into play when trying to figure out how long a personal bankruptcy in Canada will stay on your credit report. The first thing you need to look at is the length of time you are in bankruptcy […]

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How to Protect Against Identity Theft

Filed in Credit Monitoring, Personal Finance by on August 20, 2013 0 Comments
How to Protect Against Identity Theft

Identity theft is a relatively new problem, aided by online banking systems, credit cards, and Canadian social insurance numbers. The number of incidences of identity theft has continued to grow rapidly since the first cases started showing up in the 1990’s. By 2005, the number of Canadians victimized by the crime has reached close to […]

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Canadian Credit Scores and Mortgage Down payments

Filed in Credit Score by on May 6, 2013 0 Comments
Canadian Credit Scores and Mortgage Down payments

Credit Report Canada recommends you check out your credit score before you apply for a mortgage. If you are on the hunt this summer for a house or condo and are planning on putting in less than 25% down payment, be aware that your credit score will begin to have greater importance. Generally for Canadians […]

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Is Credit Important With Payday Loans?

Filed in Credit Score, Personal Finance by on April 30, 2013 1 Comment
Is Credit Important With Payday Loans?

Most people have likely heard of the payday loan concept by now, and many have even used one to help out during a rough financial spot.  Payday loans are intended as a short term loan that you’re supposed to pay back from one of your pay cheques in the near future.  They don’t help with […]

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The Dos And Don’ts Of Credit Card Balance Transfers

Filed in Personal Finance by on April 21, 2013 0 Comments
The Dos And Don’ts Of Credit Card Balance Transfers

If you have fairly good credit, you’ll be inundated with offers for credit card balance transfers from numerous providers. Your current circumstance will determine if and when you accept any one of these offers. Transferring debt from one card to another will help you save money if you do it properly. Balance transfers are especially […]

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When is a payment on a loan (mortgage, credit cards) considered late?

Filed in Credit Reports, Personal Finance by on April 18, 2013 0 Comments
When is a payment on a loan (mortgage, credit cards) considered late?

Many of like to be in control and proactively review and take advantage of our credit report.  This is the report that shows all of the past and present loans, credit cards, disputes and issues on our credit ratings over the years.  The reports are used to help determine whether you are capable of paying […]

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