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What’s The Big Deal About Credit Scores Anyway?

Do they teach high school students about the concept of credit scores in math class? If not, they definitely should. Most people can’t seem to remember even hearing about the concept of credit back when they were in high school. It boggles the mind why it isn’t a primary focus of the curriculum in the later years of secondary school.

Is there a more important mathematical concept to learn than credit? One’s credit score plays a major role in the happenings of his/her life. Whether or not he/she can afford a home or a car is impacted by his/her credit score. Oddly, while major life purchases require a strong grasp of maintaining a positive credit rating, many of us can’t remember being educated about it inside of a classroom. The same can be said for many of our clients.

“I learned all about credit after I graduated high school,” one of our clients recently admitted to us, “It was because I had to pay back those student loans. When I got my bills and saw my minimum payments, I paid them on time. It helped my credit rating, but what I didn’t know is that I should have been paying more than the minimum due. Learning about credit helps you to better understand interest rates and principal balances.”

An interest rate, as you are very likely aware, accrues on an amount of borrowed money if it is not paid in full by a due date. When a minimum due is paid, the money is put towards the amount of accrued interest first and the rest of the balance (the principal) second. When only a minimum amount is paid, it becomes very difficult to pay the entire balance off. Of course, the longer one carries a balance, the more expensive the loan becomes.

Is there a way to attain a loan without a strong credit rating? It is doubtful. But, this is why Synergy Merchant’s merchant cash advance program is beneficial for business owners all over Canada. For those with poor credit ratings or none at all, our program offers a sound solution to getting extra working capital for a business. And that’s because the money we offer is not a loan. Since it isn’t borrowed money, no credit checks are necessary.

Why aren’t credit checks needed to get merchant cash advances? As mentioned, the money is not a loan. It’s an advance of money that is bound to be made from a merchant’s future credit card and debit card sales. It is a payment for those future sales. As a result, a business owner also doesn’t have to worry about making minimum payments each and every month to repay the advance.

Instead, payments are made automatically through small percentages of those future credit card and debit card sales. Without a repayment schedule, there is no such thing as being late with a payment. Payments are made quicker when sales are good and slower when sales are bad. As a result, one’s credit history isn’t impacted in any way when he/she accepts a merchant cash advance.

It’s fair to say that our unique program helps to make the concept of credit scores not so much of a big deal after all! For more information on our merchant cash advance program or to speak with one of our licensed funding specialists to get a free, no obligation quote, simply call Synergy Merchants at 1-877-718-2026 or email us at

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