Our credit score is a key factor in your financial health. It reflects your creditworthiness and directly impacts how much you can borrow, the interest rates you receive, and the fees you may pay.

Your score is calculated based on your credit report, which includes:

➤ Payment history

➤ Total debt owed

➤ Length of credit history

➤ Types of credit used

➤ Frequency of credit applications

In Canada and the U.S., most lenders rely on the FICO credit score system (300–900).

1. Higher scores improve your chances of mortgage approval and secure you better loan terms.
2. Lower scores make borrowing more difficult and costly.

Example:

1. With a score of 750+, you could qualify for a mortgage with a lower interest rate and smaller down payment — saving you thousands over time.
2. With a score below 600, you may face higher rates, larger down payments, and increased monthly costs.

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✅ Make timely payments – Paying your bills on time is the cornerstone of good credit. Set up reminders or autopay to stay on track.

✅ Manage your credit utilization – Keep your balances low by using less than 30% of your available credit. This shows lenders you’re responsible.

✅ Be mindful when applying for new credit – Only open new accounts when necessary. Frequent applications can lower your score.

✅ Review your credit report regularly – Check for inaccuracies and dispute any errors to keep your report clean and accurate.

✅ Establish a solid credit history – A longer credit history strengthens your score. If you're just starting out, a secured credit card can help build your profile