Get a free, no obligation personal loan quote with rates as low as 6.99%
Get Started You can apply with no effect 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.

Infographic: Credit Score Breakdown

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 avatar on Loans Canada
Caitlin Wood

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.

More From This Author

Special Offers

More From Our Experts

https://loanscanada.ca/wp-content/uploads/2023/09/Finder-Awards.png
Finder Awards Finalists: Personal Loans Customer Satisfaction Awards 2023

By Priyanka Correia
Published on September 25, 2023

Loans Canada is happy to announce it received the finalist award in the Best Personal Loan Search Platform category.

https://loanscanada.ca/wp-content/uploads/2014/04/Getting-Pre-Approved-For-A-Mortgage.png
How To Get Preapproved For A Mortgage

By Chrissy Kapralos

How to get preapproved for a mortgage? Find out everything you need to know about mortgage preapprovals.

https://loanscanada.ca/wp-content/uploads/2015/02/Tap-into-my-equity.png
When Can I Tap Into My Home Equity?

By Lisa Rennie

Do you have equity built in your home? Wondering when you should leverage your home equity for cash? Find out when to tap into your equity?

https://loanscanada.ca/wp-content/uploads/2013/03/CreditScores.png
What Your Credit Score Range Really Means

By Caitlin Wood

Wondering your credit score range really means? It means a lot to your wallet, your home, and your even your job. We have cracked the code.

https://loanscanada.ca/wp-content/uploads/2023/08/G-license-test.png
What Is A G License Test?

By Lisa Rennie

Are you trying to getting your license in Ontario? Then you should find out what's on the G license test.

https://loanscanada.ca/wp-content/uploads/2021/12/Canada-Fed-Deposit.png
Canada Fed Deposit: Payment Dates And Eligibility 2023

By Corrina Murdoch

The Canada Fed Deposit or EFT Credit Canada appears on a bank statement. It happens when the federal government pays the CCB, CWB and

https://loanscanada.ca/wp-content/uploads/2023/09/CBSA-SALARY.png
The Best Paying Jobs With The Government: No Degree Required

By Lisa Rennie

Are you looking for a high paying job but don't have a degree? Check out the CBSA salary and other government jobs.

https://loanscanada.ca/wp-content/uploads/2020/12/new-credit-card.png
Neo Credit | Neo Financial Credit Card Review

By Corrina Murdoch

The Neo Financial Credit Card makes both spending and saving rewarding for Canadian consumers, regardless of their financial health.

Recognized As One Of Canada's Top Growing Companies

Loans Canada, the country's original loan comparison platform, is proud to be recognized as one of Canada's fastest growing companies by The Globe and Mail!

Read More

Why choose Loans Canada?

Apply Once &
Get Multiple Offers
Save Time
And Money
Get Your Free
Credit Score
Free
Service
Expert Tips
And Advice
Exclusive
Offers

Build Credit For Just $10/Month

With KOHO's prepaid card you can build a better credit score for just $10/month.

Koho Prepaid Credit Card