Home credit Infographic: Your Credit Score Breakdown

Infographic: Your Credit Score Breakdown

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.

Tags: credit, credit score

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Disclaimer: All loans are subject to credit and underwriting approval. Loans Canada is a lead referral network and may be remunerated for its referrals. Loans range from $500-$15,000 with terms from 4 months to 60 Months. APRs range from 29.99% to 55% and will depend on our partner's assessment of your credit profile. For example, on a $500 loan paid monthly over 9 months, a person will pay $81.15 per month for a total of $730.35 over the course of the entire loan period. This amount includes our partner's optional loan protection policy. In the event of a missed payment an insufficient funds fee of around 45$ may be charged (dependent on the lender). In the case of a default on your loan your payment plan will be terminated and different collection methods will be employed to collect your remaining balance. Outstanding debts will be pursued to the full extent of the law. Our lenders employ fair collection practices.

Note: Loans Canada and its partners will never ask you for an upfront deposit, upfront fees or upfront insurance payments on a loan. Loans Canada is a lead referral company, not a lender. Loans Canada only works with financial service providers that adhere to Canadian laws and regulations. To protect yourself, read more on this topic here.