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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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.
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