Credit Score
Our articles about credit score and how to improve it.
Does Getting Your Rent Payments Reported to Credit Bureaus Actually Help You Build Your Credit in Canada?
Over the last few years, various rent reporting services have emerged in Canada, most of which only report rent payments data to Equifax. That includes Borrowell Rent Advantage, FrontLobby, and KOHO. More recently, rent reporting company Zenbase anno
The Inconvenient Truth About Credit Builder Loans in Canada
"Those credit builder loans may have an impact on your credit file, because it could be reported as a trade line on your credit file. But they're not likely to help you improve your credit score," said Richard Goyder, Chief Credit Officer at Neo Financial.
Why a Car Loan is Often the Easiest Path to Credit for New Immigrants, But Not The Best
While a car loan is one of the most accessible forms of credit for newcomers, it is not the most cost-effective way to build a score from scratch.
The Refresh Financial Card No Longer Exist: Here Are The Top Alternatives We Found
While Refresh Financial nor Borrowell currently offer secured cards, here are the three top secured credit cards according to most Canadian rankings.
The Main Differences Between Equifax and TransUnion in Canada Explained
"Equifax and TransUnion are two different companies and they compete very hard against each other to come up with the most predictive score. So they change the way they calculate it all the time and they use different variables to calculate it"
Here Are 2 Alternatives to Nyble's Credit Building Loans That Actually Work
"The question, with credit building micro-loans, is whether the credit bureaus recognize them as being something that is worthwhile and do the lenders that see that data as something useful."
5 Ways to Rebuild Your Credit After a Consumer Proposal
A consumer proposal will drop your credit score by roughly 100 to 150 points and place an R7 rating on every account included in the filing. That notation stays on your TransUnion report for six years from the filing date or three years after complet