The credit scoring system became prevalent during the 1960s as a way for lenders to quickly evaluate a potential borrower’s creditworthiness. The system accurately predicted financial risk over time and grew to several different industries. Today, credit scoring is...
With a little research and 5 simple steps, it’s easy to spruce up your credit profile: 1. Get the facts The first step is to get a clear picture of your credit profile. Order your credit profile, credit score, and debt analysis online to get a complete picture of your...
A line of credit is offers more flexibility and affordability compared to other financing options, such as a loan or a credit cards. This makes it ideal for things like debt consolidation, home improvement, or even checking off a few items from your bucket list. A...
When you take out a mortgage, apply for a credit card, sign for a car loan, or set up an instalment plan for kitchen appliances, you use credit. Your total credit use makes up your credit history. In Canada, two agencies—Equifax and TransUnion—manage credit histories....
