Pay off your credit cards : What is the best method to do it.

We get it, you might want to clear your credit card debt and have no debt at all. We all have some debt. Credit card companies make money when we owe them.

To build good credit, keep your credit card balance under 70% of the limit. For example, if your card limit is $1000, aim for a balance under $700. This helps build your credit score.

Some think having no credit is smart. But in Canada, having no credit means you can’t get loans, mortgages, or lines of credit. It’s a big hurdle.

At loanspot.ca, we’ve found the best way to build credit. There are different credit cards to help you. Secured and unsecured cards are available. Secured cards require upfront money, but they’re often guaranteed approval if you have the funds.

If you want to see credit card options, apply on our website here.