How to improve your credit score

Your credit score affects you more than you think — especially when it's time to get approved on exciting life milestones, like buying a car or home. Lenders look at your score to determine your creditworthiness, or how good you are at handling your financial obligations. It’s how they determine how big a mortgage or loan (or how high a credit card limit) to offer you and at what interest rate. Having a low score could result in getting approved at higher interest rates — or even being declined. Many landlords look at your score when considering renting to you, and some employers are even requesting info on your credit score before making you a job offer. A few different factors make up your score, with payment history, utilization ratio, and length of credit topping the list, followed by types of credit and inquiries. Whether your score is stellar or needs some TLC, there are some easy ways to improve it and ultimately rule it. Here are 3 ways to get you started: ![](/content/images/2017/07/img1-1.jpg) Nail your utilization ratio Your utilization ratio is how much of your available credit you’re using, or your level of indebtedness.

Announcing our very first bitcoin contest winner

Congratulations to the very first winner of our bitcoin contest! Amy S. from Edmonton, AB was the lucky MogoMember who took home the prize of one bitcoin, worth a whopping $18,500 CAD at the time of the draw. What a great way to celebrate our upcoming bitcoin account with our members through this contest. You could win bitcoins too One down, three more to go. If you didn’t win this time, don’t worry. We have 3 more bitcoins up for grabs! If you're already a MogoMember, great news—you’re already entered into the next 3 bitcoin draws. If you’re not a MogoMember yet, time to sign up for a free MogoAccount. It only takes 3 minutes. It’s that simple! The deadline for our next draw is on January 31st, 2017. Earn more chances to win If you haven’t already, just download the MogoApp for another entry. You can also sign up for MogoProtect to help protect you against identity fraud and get 5 extra entries1. That means you could earn up to 7 entries, just like that! Got more questions about our contest? You’ll find some answers to common questions here. See

Thank you for 500,000!

We’ve given 500,000 Canadians the ability to rule their finances from wherever they are, and we ain’t stopping. Thank you for being one of the 500,000 Canadians who choose Mogo. Half a million members have joined us on a journey towards financial health, starting with Canada’s only free credit score monitoring service that’s available through a mobile app. Beyond that, you’re using the MogoCard to manage your spending and save more; our personal loans to get out of debt faster and more easily; our smart and simple mortgage experience to get mortgage-free faster. Because we never stop paying attention and listening to you, our MogoMembers, we never stop learning. We never stop growing. We’ve built our financial products to empower, not confine. In a world dominated by big banks, archaic processes and hidden fees, our fully online platform and streamlined digital banking experience delights, not exasperates. We’re fanatical about helping you take control of your financial health. As a finance technology company, we focus on empowering Canadians to better their financial health with solutions that are simple, easy to use and unconventionally fun. When we say fanatical, we mean we’re

Bite-sized financial and professional tips from Bryan Brock for you to reflect on right now

Last month, we had the opportunity to host an intimate evening with Bryan Brock at the MogoLounge. As an entrepreneur, Creative Director and co-founder of the Remix project, a nonprofit serving at-risk youth in Toronto, OneLoveTo, a Toronto based lifestyle brand, and The Fitting Room, a unique men’s barbershop in downtown Toronto, Bryan shared how to truly invest in yourself, and turn your passion project into your full-time gig. Don’t worry if you missed it, as you can watch the video here. It was eye-opening to hear about the struggles, tips and tricks that Bryan used to get him where he is today. Because it’s important to hear about hardships, as it is to hear about success stories. We were inspired to reflect on our own lives as well, financially and professionally. We’ve gathered some highlights from the session for you: • If you’re starting out in the working world: “I don't think anyone teaches you the importance of having paid practice.” • On side hustles: Are you doing this to create a job for yourself, or to create a business? • On forging your own path: You don’t have to be put in a box, based

Help protect yourself with 
free monthly credit score monitoring

What happened? Equifax reported a breach. There are many ways criminals can get access to your personal info, and one of them is breaches to companies that store your personal information. This is exactly what happened. The security breach at Equifax could affect up to 143 million people in the United States and has also exposed "limited personal information" for an undisclosed number of Canadians. Who’s Equifax? Equifax is the largest credit bureau in Canada and is the bureau most used by lenders when making decisions on your creditworthiness. Whether or not you have ever signed up personally to Equifax, as a Canadian with access to credit, they have collected your information from banks and other lenders; lenders rely on this information in their assessment of whether or not to lend you money or give you credit (such as opening a new cell phone account or getting a mortgage). Why does this matter to you? Equifax says that it also identified unauthorized access to limited personal information from certain Canadian residents. If your data is stolen it could be used for identify theft. This highlights the ongoing risk we all face in this day and age. Although our personal

Rule Your Spending - 30 Day MogoCard Challenge

Ready to rule your spending? We're challenging you to use the Mogo Platinum Prepaid Visa® Card1 for 30 days as your dedicated spending account. Why 30 days? By creating a new habit for a month, you’ll be more likely to stick to it and integrate it into your day-to-day life. Whether you’re an overspender or a strict budgeter, the MogoCard will help you stay on track, learn about your spending habits, and ultimately #RuleYourFinances. @media only screen and (max-width: 480px) { .pr-20 { padding: 40px 20px 20px 20px !important; } .pl0t20 { padding: 20px 0 0 0 !important; } .align-left { text-align: left !important; } .mb-10 { margin-bottom: 20px !important; } .rl30 { padding-left: 30px !important; padding-right: 30px !important; } } What to expect in your 30 Day Challenge Use the MogoCard as your main spending tool. It’ll help you control your spending in ways that debit and credit cards can’t. Load money to the MogoCard for your weekly spending and stay on top of it. Learn about your day-to-day and weekly spending habits. Spend less than you normally would, ultimately getting you closer to your financial goals. How to get started: Add your spending money To start out, we recommend adding enough spending money to last

RULE YOUR FINANCES: Financial Literacy Series

Join us for an evening of drinks, light snacks and financial advice at the MogoLounge. We'll be talking ways to rule your finances. Where: The MogoLounge 797 Queen St W, Toronto When: Wednesday July 5th from 6:30–8 PM ![](/content/images/2017/06/Fin_literacy_series_blog_topics-2.jpg) Can’t make it to the event? Submit questions via our Social channels (Facebook, Twitter, Instagram) using #RuleYourFinances. We'll be live streaming on our Facebook page, so be sure to catch it there. Jason De Thomasis, CFP® of De Thomas Wealth Management GET YOUR FREE TICKET! GET TICKET

MogoMortgage Wins The Canadian Mortgage Award for Best Use of Mobile Technology

We’re pumped to share our MogoMortgage product won the Canadian Mortgage Award for Best Use of Mobile Technology! We launched our MogoMortgage product earlier this year to give Canadians an innovative digital experience for mortgage seekers on the go. With a digitally led process from pre-approval until renewal or when the mortgage is fully paid off, the app also has a human touch: MogoMembers can chat online through the app or on the phone with experienced mortgage specialists anytime they have questions about their mortgages. ![](/content/images/2017/05/MogoMortgage-rewwards-notifications-web.jpg) We’re a licensed mortgage broker, so we offer the traditional benefits of working with different lenders to get access to the best products and rates, with the additional benefits of an interactive dashboard available online and through our mobile apps. Plus - perks like dinner on Mogo to celebrate annual mortgage payment milestones. ![](/content/images/2017/05/Mogo_Dave-Feller.jpg) Here’s what our CEO and Founder, Dave Feller, had to say about the award: “” It's great to receive recognition for what we believe is the best mortgage experience in Canada. As consumers continue to move to a more convenient digital mortgage experience, Mogo is clearly positioned

4 ways to get out of debt faster

In December 2016, Canadians owed $569 billion in consumer debt like credit cards and lines of credit—and that’s not counting mortgages.* Debt, especially revolving debt (like credit card debt) can be difficult to get on top of. In fact, 46% of Canadians carry a credit card balance every month. Yikes. The good news? It IS possible to break the debt cycle and get on the path to financial freedom. 1. Use “found money” to pay it down ![](/content/images/2017/05/Mogo_blog_Break-out-of-debt_img1.jpg) Almost everyone will encounter “found money” throughout the year; basically money outside of your regular paycheck, like a tax refund, bonus at work, gifted money, etc. Although it’s super tempting to use this “extra” money for something fun, using it towards your debt is a smart way to make a good dent in it. If you have multiple debt products (like credit cards, lines of credit, etc.) make sure you put money towards the product with the highest interest rate first. 2. Create a budget ![](/content/images/2017/05/Mogo_blog_Break-out-of-debt_img2.jpg) This might sound obvious, but half of Canadians are living paycheck to paycheck without much insight into