Types of Bad Credit

Canadian credit regulations ensure that every type of loan is subject to repayment. This means that every type of loan can, if conditions are not met, can go into default status and be classified as bad credit.

The Different Types of Credit

In Canada the most common types of loans, such as car loans, credit cards or mortgages, fit into one of two types of credit. The two main types of credit in Canada are:

Installment Credit and Revolving Credit.