Infographic: Your Credit Score Breakdown

📅 Last Updated: November 30, 2021
✏️ Written by: Caitlin Wood, BA

Get a free, no obligation personal loan quote with rates as low as 9.99%

Get Started You can apply with no impact to your credit score

Your credit score is the backbone of your financial life, it affects everything from getting approved for new credit to getting hired for your dream job. If you’re looking to improve your credit score because you’ve been rejected for a loan you need or simply because you’re looking to get your overall financial health back on track, having a good understanding of how your credit score is calculated is a great place to start. The great news is you have the power to improve your credit score, take a look at our newest infographic for an in-depth look at credit scores.

Looking for even more information on credit scores?

Loans Canada has created a comprehensive collection of all the information you need concerning your credit score. Click here to take a look.

Caitlin Wood, BA

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

Special Offers

NEW!

Get $150* With New Coast Capital

From April 15 – June 30, 2025: New members can get $150* when they open and use a Free Chequing, Free Debit and More Account®. *Conditions apply. See full terms and conditions when you visit the Coast Capital website.

HOT!

Earn Cash Weekly With Freecash

Freecash is an app that lets you earn money by playing games, trying new apps, or completing surveys, all from the comfort of your home.

Credit building!

The Foundation by Spring Financial

Credit building on autopilot. Appy for The Foundation and make payments for 12 months. Payments are reported to both credit bureaus which can help build credit. Plus, after 12 months you’ll have $750 saved.

HOT!

Build Credit With Kikoff

A simple and safe way to build your credit. No credit check, no hidden fees, and no interest. Kikoff reports payments to Equifax, which can help improve your credit.