The Mogo Blog

What's a credit score? (And its everyday uses)

Well, first let’s talk about what a credit report is. Your credit report shows your history of borrowing and details on any loans you’ve taken out, as well as other info like how many times you get your credit checked and how close you are to maxing out your balance. Oh yeah, and if you’ve been avoiding those parking tickets or your phone bill from 2011, those get written up in your report too. The score is calculated based on secret algorithms using all the above—and more. It can be a measure

200,000 MogoMembers down, 800,000 to go.

Well, we did it. We hit 200,000 MogoMembers! Say hello to the country's biggest digital financial platform. As leaders of the FinTech revolution in Canada, this is pretty awesome. Tech is getting bigger and bigger (just look at Uber and Airbnb), and it’s clearer than ever that the traditional way of banking is being left far behind. Last year, McKinsey released a report saying that banks could lose up to 60% of their retail profits to tech startups—oh hey, that’s us—over the next nine years. Th

The MogoLounge: FinTech's getting physical in Toronto

Last time, we told you a bit about the beautiful-striking-gorgeous design of the new MogoLounge [https://blog.mogo.ca/mogolounge-toronto-design] on 797 Queen Street West in Toronto. [https://www.google.ca/maps/place/MogoLounge/@43.6460508,-79.4107983,17z/data=!3m1!4b1!4m2!3m1!1s0x882b34e3e23bdc81:0xbf3d6838c35278fc] This week, we’re going to share some of our big plans for this rad new space. Mogo HQ, if you will. Get the 360° Mogo experience ![](/content/images/2016/04/mogo_mogolounge-strateg

Revolving credit: why a loan is smarter than a credit card

You’ve probably been told that credit cards are bad because the interest rate is high. But that’s not the only reason—it’s actually because they’re “revolving credit.” If you’re wondering what the hell revolving credit is, you’re in the right place. ![](/content/images/2016/04/revovling-cycle_v2.gif)Let's ask an adult ![](/content/images/2016/04/ask.jpg)Revolving credit comes in the form of a credit card or line of credit that lets you immediately re-borrow what you paid back on principal. And

When Art Meets FinTech: Ola Volo

When you have a giant white wall in the office, it means only one thing: time to get yourself a kickass mural. Well, we happened to have a giant white wall in the office. So… we went and got ourselves a kickass mural. ![](/content/images/2016/03/mogo_Ola-fullmural.gif)Meet the amazing Ola Volo, (who’s also done murals for Lululemon, Translink, and Save-on Meats). ![](/content/images/2016/03/mogo_Ola-interview_profile.jpeg)So how did you get into art and mural-making?Ola: I studied design at Em