How to Save Money in 8 Easy Steps
1. Create a budget The first thing you need to do is figure out how much money you’re working with: what you’re spending, where it’s going and how much you’re actually making. In other words, you need to make a budget. Find out how much money you take home after taxes. Then, tally up all […]
How to Get a Better Credit Score
Did you know that having a good credit score is important if you ever need a loan, like a mortgage or a car loan? Lenders will look at your credit score as a quick reference to determine how creditworthy you are and what interest rate you should pay. Since this number can significantly affect your […]
What You Need to Know About Credit Reports
If you’re applying for a mortgage, an apartment rental or even a new phone plan, there’s a good chance your potential lender, landlord or service provider will want to take a look at your credit report. That’s because your credit report shows your history as a borrower and offers a good idea of how likely […]
How to Check Your Credit Score and Rebuild Your Credit History
A credit score is a three-digit number that tells potential creditors how likely you are to pay back debt. In Canada, your credit score can range from 300 to 900 and the higher your score, the more creditworthy you are. Financial companies use your score to determine whether or not to give you a credit […]
How Do Credit Inquiries Work?
When lenders or creditors want to check your credit history before issuing you a loan or credit card, they perform a credit inquiry, also known as a credit check. Based on the information they find, including your credit score, they’ll determine how creditworthy you are and whether to approve your application. However, there are two […]
What is a Good Credit Score in Canada?
Credit scores are an important financial tool that can have a large impact on your life. Financial institutions use them to help decide whether to give you a mortgage or loan and what rate of interest to charge you. Landlords may use your credit score to decide if they should rent you an apartment. It’s […]
What is the Ideal Credit Utilization Ratio?
Credit utilization is an important factor credit bureaus use to calculate your credit score. Get more control over your creditworthiness by learning about this key credit score metric. What is credit utilization? Simply put, your credit utilization is how much of your overall revolving credit you’re using versus how much you have available at any […]