How Shaylen learned to use credit right.
It’s a truth that many Canadians can relate to. “Growing up, I didn’t have a lot of knowledge about credit,” says Capital One customer Shaylen. “Given the importance of credit, and how much we use it and need it to make it in this world, I do think it’s wild that we’re not taught financial literacy in school.”
The Vancouver, BC, restaurant manager spent much of her adulthood playing catch-up when it came to managing her money. After a “yes” to credit from Capital One, she’s finally reached a more stable place.
“I use credit quite often in my everyday life,” she says. “I use it for my gym membership, to go grocery shopping and pay bills. And, by using it responsibly, I’m watching my credit score go up, so that’s been really cool.”
It wasn’t always smooth sailing. “I had a misconception about credit,” she says. “That it would put me deep in the hole just to use it. But I learned that by living within my means, and through making payments on time, a credit card can really benefit me.”
Though it was a bit daunting at first, by habit stacking, Shaylen now has a positive relationship with her credit and finances. “My new addiction is paying my bills on time,” she laughs.
“Getting my credit limit increased by Capital One was a very proud moment for me. When that happened, it felt like Capital One trusted me.”
Earning that trust has opened other doors for Shaylen. “I used to have to say ‘no,’ but I can do things more freely now,” she says. “Enjoy time with my friends, say ‘yes’ to experiences, birthdays, things like that.”
Not only does Shaylen feel more confident in herself every day, but she’s also optimistic about her future. “Capital One’s belief in me helped me believe in myself financially,” she says. “It’s been really exciting to look ahead. I didn’t feel like I would ever get to this point, and that ‘yes’ to credit changed my life. With Capital One, it doesn’t feel like my goals are too out of reach. Maybe I can finance a car or buy my own place. I feel like I’m getting closer.”
Shaylen’s advice for anyone starting their own credit journey? “Just apply. Apply, and then make those payments. Stick to your payments and that could give you a higher credit limit and help your score go up.”
Shaylen is one of the over 4 million Canadians who’ve gotten a “yes” to credit from Capital One. Ready to start your financial journey? Find out which Capital One product is right for you.
* 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®.