The Loans Canada team sits down with Gary Schwartz of the Canadian Lenders Association to talk about open banking.
Video: How Your Credit Score is Calculated
Loans Canada: The Country's Best Loan Comparison Platform
If you’ve been looking into improving your overall financial health or have simply just been looking to improve your financial knowledge, you’ve more than likely come across lots of information discussing the importance of the credit score. Credit scores truly are very important, creditors and lenders often use them to assess our creditworthiness. Whether or not you get approved for a loan, mortgage or new credit card can often be reliant on your credit score (just in case you were wondering, there are lenders that do not use credit score to approve loan applications). We believe that in order to have the best possible financial life, you need to know how your credit score is calculated. This way, you’ll know what you need to do to improve it if that’s your goal. Check out our newest video to learn how your credit score is calculated.
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