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Frequently Asked Questions.
Yes, the Credit Slab tablet is yours to use for the term of the Membership and while you are in the program. The tablet computer is yours to keep at the conclusion of the term of the Membership.
The Credit Slab Tablet comes pre-loaded with the information and tools you need to take control of your credit. The Credit Advise credit improvement system is also installed and ready to go. The Credit Advise app was built by credit experts to help you get the credit that you deserve. You can also download apps from the Google Play Store, watch movies, read books, and surf the internet.
Once you get your Credit Slab tablet simply turn it on, pick your preferred card and complete the 3rd party application. The credit card company will handle all the rest for you. Typically, customers receive their credit cards within weeks. Some of the credit card providers may have their own terms and conditions.
We guarantee that we will use our expert services, staff knowledge, the tools we provide you, as well as our 20 years of experience with credit issues to help your situation. We have an amazing track record and have dealt with almost every type of credit situation successfully. That said, it is impossible to guarantee a change in your credit due to the many different factors involved. Making sure that all of your bills and debts are paid on time and being diligent is the best way to insure credit improvement.
No! With that being said almost all customers are successful, if they are committed and take the program seriously, pay their bills and debts on time and utilize the credit improvement tools that are provided. We want you to be successful and we are here to help. The customers that do not do well in our program are typically those that are not committed and stop paying their loans, bills and debts or do other things to jeopardize their own credit.
Much like a gym membership; buying the membership is not what is beneficial. You will not see any results unless you actually go to the gym and utilize the facility. Expecting positive results while you are not prepared to change your habits simply will not happen.
Unfortunately, we don’t accept returns or offer refunds on the Credit Slab Tablet or the Credit Slab Credit Improvement program. If the tablet is defective, it would be covered under the manufacturer's warranty subject to their terms and conditions.
Yes. The Credit Slab Tablet comes with a manufacturer's warranty that covers the tablet for one year against the device becoming defective. This doesn't include damages caused by miss-use, like a screen crack from a dropped tablet. The manufacturer will verify the hardware is defective once returned.
Our typical customers are every day "people", individuals, and families who may have been struggling financially and are wanting to rebuild their credit. Bad things happen to good people and there is help! We will try to work with everyone to improve their situation. Our program is affordable and custom tailored to each of our clients. Most of our typical customers have undergone financial hardship due to accidents, illness, extended job loss, business failures and other economical downturns. Our typical customer cares about their credit and is committed to the improvement process.
This is a question that you need to ask yourself. Our program requires customer commitment and the willingness to make changes to your own financial lifestyle. Our view is that credit is a privilege and not a right. We strongly encourage people NOT to join our program; should they not be prepared to deal with the responsibility of loans, credit cards and the entire process of improving your credit. Good credit must be earned and our role is only to help and educate our clients.
Our programs are only available to Canadians whom are serious about improving their credit rating. Our credit specialists will do their best to help you move forward with your program approval. Their main function is to determine if you will be a good candidate and also determine which program may suit you best.
Credit Slab may recommend several 3rd party lenders and each lender has their own approval process. We have various programs that will accept you, regardless of your credit history. You are also very welcome to provide your own financing through your own institution. Credit Slab is not a broker.
The first step is to use our secure online application form. Our cutting edge program will adjudicate and let you know if you are approved. Most approvals happen within a few minutes! It is always best to speak with one of our credit specialists first. Keep in mind that everyone’s situation is different and there is no “one size fits all” approach to credit improvement. We will help you pick the right program for your needs.
Typically it is not viable to obtain micro loans without employment. However in many cases your spouse, partner or other family member may be contributing to your household income. Should you have a co-signer that is willing to assist you financially we would consider reviewing your application. Please keep in mind that the commitment of these are actual loans and they need to be paid in order to achieve success.
Typically it is not viable to obtain micro loans with a low income. You may want to insure that you are able to handle the payments of the loans. With that being said, in many cases your spouse, partner or other family member may be contributing to your household income. Should you have a co-signer that is willing to assist you financially we would consider reviewing your application. Please keep in mind that the commitment of these are actual loans and they need to be paid in order to achieve success.
Yes! In certain circumstances, our credit professionals may suggest and tailor a Credit Slab Credit Improvement System specifically for you. The program is a perfect way to rebuild your credit after a bankruptcy.
As a Military Veteran or if you are currently enlisted with the Canadian Armed Forces please consider it our gift. We will pay 100% of your set up fee into the Credit Slab or Nu-Life Credit Improvement program. Should you not be able to afford the reoccurring payments please contact us and we will do our best to custom build a more affordable program for you. Thank you for your hard work and dedication to our great country. Please also note that we have an array of no cost educational programs as well as pro-bono services for CAF and Veterans.
We do not encourage joining our Credit Slab or Nu-Life program if you are unable to afford the micro loan payments. With that said we still do want to help you with your credit matters. If you are either on a disability or a seniors pension please contact us to discuss our educational and pro-bono services. We do our very best to help everyone regardless of your financial situation.
Our 3rd party lenders will provide 2 micro loans to you, once your application has been approved. These small loans typically, will appear as trade lines on your credit report. The Credit Slab program optimizes your 2 small loans and will help you monitor the 3rd party reporting process. These are real loans and should be treated as such. We strongly encourage the customer to insure that they have all of the means and resources to make the reoccurring payments. Remember, strong repayment history is what most other lenders will look for, when you want to borrow money in the future.
100%! Yes these are real loans from 3rd party lenders.
No! These loans get paid from the 3rd party lenders to Credit Slab to cover the ongoing costs of our programs. You will not receive bills from us as your program and our services, will have already been pre-paid via these micro loans.
The tablet, our exclusive credit improvement software and the portal Credit Lab access is not free; however, it is completely paid for by your micro loans and included in your Credit Slab program.
Our program is extensive and designed to give you every fighting chance to improve your credit the right way. We will assist you with monitoring, management and the protection of your credit. You will also have full time access to our proprietary credit repair and debt settlement tools and applications. Our Credit Lab experts are also available to assist you for the entire duration of your program. They will help you and provide you with the knowledgebase required for you to get the credit that you deserve. Most importantly, we guarantee your credit safety while on our watch! Should you become a victim of identity theft while a member of our program; we will handle all of the credit restoration at no charge to you.
Good credit does not happen over night. The idea is to show lenders that you are able to make reoccurring payments over a period of years as opposed to a few months. Do not let people tell you that there is a quick fox to credit improvement. This program was designed by experts from the credit and lending industry; the people who know credit best.
Because you will be obtaining loans from 3rd party lenders in order to be in our program we typically select applicants that have a high probability to be successful. It is our goal to work together with our customers in order to bring forth the best results. When you look good we look good! When and if you were to fail it would make our program look bad and also may put one of our preferred lenders at risk of not receiving the repayment of their loans.
If you are having serious debt problems, we do not encourage you to take on additional financial burdens. We recommend only being in our programs if you can completely afford it. Joining any program that you can not afford is simply a recipe for failure. We only encourage responsible spending.
These are real loans between you and the 3rd party lender; and the goal of our program is to educate our consumers on the importance of being able to responsibly repay the reoccurring payments on time. Please keep in mind that each time you make regular payments on time, it typically gets recorded on your credit report; which in turn should have a positive impact on your credit score. Intentionally missing payments or acting in any delinquent manner will most likely have the opposite affect on your credit report. It is very important to insure that you make all of your payments on time.
Absolutely yes, it is very important to understand that these are real loans issued by our various 3rd party lenders. These lenders will not lie or embellish your positive track record or lack of commitment. If you pay on time and as agreed they will report this good behaviour to your benefit. Should you stop paying these loans, they will most likely report your bad credit habits as well. We strongly encourage people to join our program only if they are serious and committed to improving their credit.
You may be surprised by the amount of personal financial data in your credit report. It contains information about every loan you've taken out in the last six years — whether you regularly pay on time, how much you owe, what your credit limit is on each account and a list of authorized credit grantors who have accessed your file.
Each of the accounts includes a notation that includes a letter and a number. The letter "R" refers to a revolving debt, while the letter "I" stands for an installment account. The numbers go from 0 (too new to rate) to 9 (bad debt or placed for collection or bankruptcy.) For a revolving account, an R1 rating is the notation to have. That means you pay your bills within 30 days, or "as agreed."
Any company that's thinking of granting you credit or providing you with a service that involves you receiving something before you pay for it (like phone service or a rental apartment) can get a copy of your credit report. Needless to say, they want to see lots of "Paid as agreed" notations in your file. And your credit report has a long history. Credit information (good and bad) remains on file for at least six years.
A credit rating or score (also called a Beacon or a FICO score) is not part of a regular credit report. Basically, it's a mathematical formula that translates the data in the credit report into a three-digit number that lenders use to make credit decisions.
The numbers go from 300 to 900. The higher the number, the better. For example, a number of 750 to 799 is shared by 27 per cent of the population. Statistics show that only two per cent of the borrowers in this category will default on a loan or go bankrupt in the next two years. That means that anyone with this score is very likely to get that loan or mortgage they've applied for.
TransUnion says someone with a credit score below 650 may have trouble receiving new credit. Some mortgage lenders will want to see a minimum score of 680 to get the best interest rate.
The exact formula bureaus use to calculate credit scores is secret. Paying bills on time is clearly the key factor. But because lenders don't make any money off you if you pay your bills in full each month, people who carry a balance month-to-month (but who pay their minimum monthly balances on time) can be given a higher score than people who pay their amount due in full.
This isn't too surprising when you realize that credit bureaus are primarily funded by banks, lenders, and businesses, not by consumers.
A digital/electronic signature — also known as an ‘e-signature‘ — is a simple and legally recognized way to indicate consent, approval and/or acceptance on a digital/electronic document or form. We allow our customers to elect the use of this function for their own personal convenience. To insure your security we will log your email, IP address and your signature. Please read your agreement prior to signing.
The agreement includes the terms and conditions for the Credit Slab program, as well as the loan agreements. It is very important that you view and read and understand these agreements, as they contain the payment information, financial disclosure and various other important terms and conditions. Also you will be able to view the lender information that you will need in order to contact your 3rd party loan provider should you need to reach out to them. Please read the agreements prior to signing, and once you have been approved you will automatically receive a copy via email to the email address that you provided. Once you receive the email PDF copy, we strongly encourage you to read it again to insure that you understand the program and the terms. We also recommend printing a copy and keeping it for your personal records.