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CLIMB.CA

Frequently Asked Questions

Featured FAQs - Updated March 18, 2020

Accelerator Plan FAQs

Climb’s Accelerator Plan was built to support our customers’ needs: building a positive payment history and saving money towards a goal. We know from experience that our customers sometimes need to access their funds earlier than planned. In order to support those early equity withdrawals, we aren’t able to pay interest on the funds we’re holding.

Other credit building programs, such as GIC loans, give up flexibility in order to offer a small amount of interest paid at the end of a fixed term. These programs typically charge an excessive penalty for cashing out a locked investment early.

Credit Consultation FAQs

When you fill in the online form here to request a credit consultation, one of our experienced Credit Consultants will  check the lender’s view of your credit report at TransUnion. 

They’ll then reach out to schedule a 30 minute phone call to review your credit report together, verifying that the info on the report is accurate and explaining any items that might be holding your credit score back. 

The version of your credit report we review is a different version from what’s available on most free credit report web sites.

Climb General FAQs

Climb exists to support Canadians who are trying to get their finances back on track and improve their credit score.

We have two ways we do this: first through free credit consultations with our experienced credit consultants; and second through our Accelerator plan, which provides a no-risk way to add a positive payment history to your credit score. The Accelerator Plan is ideal for customers who are trying to rebuild their credit during a Consumer Proposal. Learn more about the Accelerator Plan here. 

Submit your question

Credit Consultation FAQs

I know, it sounds counter-intuitive that we’re charging you interest for the privilege of holding onto your money. However, there is a real cost when we report to TransUnion and Equifax, and we need to cover those administrative operations. 

We also know that some of our customers will need to access their equity early, and want to make sure that they can do that without paying an excessive penalty for cashing out a locked investment early.

Climb General FAQs

I know, it sounds counter-intuitive that we’re charging you interest for the privilege of holding onto your money. However, there is a real cost when we report to TransUnion and Equifax, and we need to cover those administrative operations. 

We also know that some of our customers will need to access their equity early, and want to make sure that they can do that without paying an excessive penalty for cashing out a locked investment early.