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Understand Your Credit Report & Score – Part 2

By Ryan A. Smith

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

By Ryan A. Smith

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,... »

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Canadian High Interest Rate Savings Accounts

By Ryan A. Smith

Each month I put away all my remaining money into some kinds of savings accounts until I need to use it. Instead of locking... »

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