3 ways to improve 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: Nail your utilization ratio Your utilization ratio is how much of your available credit you’re using, or your level of indebtedness. For example, if your credit card

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