How I Turned a Car Accident into A Good Credit Score | Your Money, Your Choices by Susan Daley



The irony of credit scores is that you need to owe people money for them to exist. Unfortunately those who are in the best financial situation might not have great scores, because they have little credit.

But millennials often need a good score to reach their goals. Here’s my story on how a car accident helped to increase my credit score and some advice to help you approved yours.

FCAC – Understanding Your Credit Report and Credit Score:

Government of Canada – Credit Reports and Scores:

Transunion (Free Credit Report & Paid Score) –
Equifax (Free Credit Report & Paid Score) –

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4 Responses

  1. Arizona Homesteading And Travels says:

    Now here I thought this video was going to tell me how an accident improved your score with GAP insurance! See, lets say you have a car loan for about a year, you are upside down but have a great on time history..well you have a total loss accident..you do owe more than what insurance would pay but GAP insurance paid off the rest so you have a paid off car loan on your credit as well as those on time payments!! I know a young lady who had this happen..bought a car, year later it was totaled, car paid off..due to GAP..bought next car..another accident..paid off..score went through the roof!!! This was not planned but it sure worked out good!! Always get optional GAP insurance as most car loans now days you are upside down

  2. Brown Strength says:

    What are your thoughts on refresh financials secured Visa card.

  3. Srey Be says:

    I just subscribe to you since I find your video very interesting. Love it.
    I need your opinion. I wanted to help someone that has a low credit score. I applied for a credit card ( from a financial institution ) and has that someone as the second person. ( it's my relative , I'm not worried ) The credit card limit its at 1K. It's been a year and that relative always put his balance back to zero. Am I helping by doing that ?

  4. Money and Life TV says:

    Great video. The main thing I do to keep my utilization low is pay off all of my credit cards in full every two weeks.

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