Blog Credit

May 3, 2018

5 Factors that Impact Your Credit Score in Canada

Not all debt is created equal on a credit report. Lenders consider credit rating, payment history, amounts owed, length of credit history, new credit and the types of credit in use before approving an applicant for financing. Effectively managing these 5 factors and understanding how they can impact your credit score will increase your chance of getting approved for financing at the best rate available.

Unmissable Car Tips Delivered To Your Inbox!

Sign up for the latest news on the best cars & deals near you! Discover simple ways to protect your investment & maximize resale value!

Browse by Category

Blog Categories

You May Also Like:

Credit | Jul 6, 2020

What Is a Good Credit Score? (and How Can I Get One?)

We all know the importance of that mysterious little number called a credit score. It holds the power to grant you things like mortgages and lines of credit, an...

Read this Story

Credit | Dec 19, 2019

Why is Your Credit Score Important?

You probably think school and perhaps work are the only places where you will be graded and scored for performance. Not true. In fact, we go through life being...

Read this Story

Credit | Dec 9, 2019

How to Check & Monitor Your Credit for Free in Canada

In this guide, you'll learn how to monitor your credit score every month for free without damaging your credit, and how to understand and interpret what's on yo...

Read this Story

Credit | Nov 19, 2019

4 Shocking Things That Hurt Your Credit Score

If you're struggling to boost your credit rating, it's important to know ALL the triggers that negatively impact it. Follow our quick rundown of four scenarios...

Read this Story

Credit | Nov 12, 2019

Does Financing a Car Build Credit?

Did you know that a car loan can help you build credit? Making routine payments on time shows lenders that you're trustworthy... Your payment history accounts f...

Read this Story

Credit | Oct 1, 2019

Do Credit Checks Hurt Your Credit Score?

What’s the difference between a hard credit inquiry and a soft credit inquiry? How much does a hard inquiry affect your credit score and how long does it last o...

Read this Story