Each month I put away all my remaining money into some kinds of savings accounts until I need to use it. Instead of locking... »
Credit Report & Score
Understand Your Credit Report & Score – Part 2
What is a “Credit Score”? A credit score indicates the risk you represent for lenders, compared with other consumers. CREDIT SCORE STANDING 730+ Excellent 700-729 Good 670-699 Need a closer look 585-669 High risks -585 No credit / limited credit history There are many different ways of calculating credit scores. Two major Canadian credit reporting agencies, Equifax and TransUnion, use a scale from 300 to 900,... »
Understand Your Credit Report & Score – Part 1
What is a “Credit Report”? A credit report is a “snapshot” of your credit history. It is one of the main tools lenders use to decide whether or not to give you credit/loan/mortgage. In Canada, your credit history is maintained by at least one of three major credit-reporting agencies: Equifax, TransUnion, and Experian*. * Effective April 17,... »