Jason’s credit rebuild starts with “yes.”
“I can start looking towards the future now that I have good credit,” says Capital One Canada customer Jason.
Jason, from Toronto, ON, has a story that’s familiar to many Canadians. He never learned about financial literacy and the need to build credit until he experienced some missteps along the way.
“I had graduated and was going into the real world, but I didn’t have any credit history,” says Jason. “It was a little bit stressful.”
One setback was spending more than he could afford on a trip to Europe with a friend, resulting in missed payments that negatively impacted his credit score.
“One of the misconceptions I had about credit was that you can do whatever you want and there will be no consequences,” he says. “Typically, when you’re young you think a credit card is free access to unlimited amounts of money, and that’s not the case. You have to treat it with respect.”
Jason, with the help of Capital One, reset his sights on what was ahead, and started rebuilding his credit.
“There were things I wanted to achieve in life and I needed credit to make that happen,” he recalls. “When I got that ‘yes’ to credit from Capital One, I felt like I was finally moving in the direction I wanted.”
From wanting to take on bigger financial goals, like getting a car for work or travelling to study martial arts, or smaller goals, like making everyday purchases without stress, Jason knew he had work to do.
“I learned how important it is to have a healthy relationship with credit, use it responsibly, make payments on time, build a budget and stick to it,” he says. “Financial literacy is something that isn’t really taught in school but should be, given how important it is in life to know how to properly use money and credit.”
Since Jason has taken steps to rebuild his credit and develop a healthier relationship with his finances, he’s able to enjoy the little things in life he loves with less stress, like spending time with family and friends, or taking his girlfriend out for dinner.
“Getting that ‘yes’ to credit from Capital One felt great,” he says. “It really felt like a weight had been lifted. Capital One has a lot of great products to offer people, and they offer a clear roadmap to help you develop a great relationship with credit. Regardless of what kind of history you have, you can always benefit from improving your relationship with credit.”
Jason uses the Capital One Smart Rewards™ Mastercard®, a credit card that rewards him for paying down his balance on time. He’s exchanged his points for gift cards for his nieces and nephews.
“I feel proud of what I’ve accomplished on my credit journey, and appreciate that through using my credit responsibly, Capital One has recognized that and made more credit possible.”
Jason is just getting started with his goals, both big and small, and Capital One is by his side along the way.
“That ‘yes’ to credit from Capital One was just the beginning for me.”
We’ve given access to credit to over 4 million Canadians, like Jason. Find out which Capital One product is right for you on your financial journey.
* If Quick Check pre-approves a card, you can be sure we’ll approve your application, except in limited circumstances. Some of the reasons we may not approve your application, among others, include:
a. There’s been a change in your credit file information, personal information or financial status from the time you receive your Quick Check results to the time you apply for one of our credit cards.
b. You’re not at least the age of majority in the province or territory you live in.
c. Your application is flagged for fraud prevention.
d. You have an existing Capital One account.
e. You’ve applied for a Capital One account in the last 30 days or had an account with us that was not in good standing in the last year. In good standing means not past due, over limit, fraudulent, restricted, or part of a consumer credit counselling program or bankruptcy.
In some cases, we may not be able to open an account for you even though your application was approved. This can happen if we’re unable to verify your identity, or you don’t provide the required security funds if you’re approved for a Secured Mastercard®.