The Mogo Blog

Crush your debt in 2 ways

Debt sucks, we agree. It’s the biggest financial stressor for most people, which is why paying down debt has been the top financial goal for Canadians 9 years in a row [https://www.newswire.ca/news-releases/canadians-say-paying-down-debt-is-their-top-financial-priority-in-2019-cibc-poll-703542692.html] . A recent survey shows that 57% of Canadians are carrying credit card debt, which proves that credit cards are a widespread problem and bad for your financial health. In fact, research has show

Guess what? We reached 900,000 Members!

If you’re a MogoMember, thank you for being one of the 900,000 Canadians who’ve chosen Mogo to help get better control over your finances. 🎉🎉 Just so you know, we aren’t even close to slowing down. We’ve got BIG things coming, including an exciting new experience on the Mogo app and a ton of educational content to help you get debt-free faster, invest wisely, spend less, and much more! Thanks again — can’t wait to celebrate the 1,000,000th Member!

MogoMoney update: an even smoother app experience

Another day, another update. We’re excited to share some important improvements made to the MogoLiquid experience for all pre-approved customers. With every product update we make, there’s really only one big question we focus on: does this create a faster, easier, and more seamless experience for our customers? We’re always aiming to answer this question and it’s what you should expect with any further updates down the road. But for now, let’s get into what’s included in the upcoming enhance

MogoMoney update: on-time payments now help work towards improving your credit

With our mission to empower our members to reach their financial best, we believe those who borrow responsibly should get rewarded. Starting this month, we’ll be reporting MogoLiquid loan payment history to Equifax, one of the two credit bureaus in Canada. That means if you have a MogoLiquid loan and you are making on-time payments, you could see improvement to your credit score. But if you’re missing payments, those little slips can hurt your credit. It’s all about staying responsible with yo

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