The Mogo Blog

A Newcomer's Guide to Credit Scores in Canada

Credit scores underscore much of Canadian financial health. A good credit score allows you to borrow money for things like mortgages; a bad credit score can bring on higher interest rates and unfavourable loan terms. It’s important to know the ins and outs of credit scores—and building up your own—which can help ensure you’ll be able to participate in Canada’s financial system with the best terms like interest rates. Before we get into it, we’d like to note that while using credit cards can

3 Reasons Your Credit Score is Dropping

Credit scores underpin the entire credit system in Canada, including everything from credit cards to big loans and mortgages. In order to obtain any such loan, you must be considered trustworthy enough to repay it. The measure? Your score! But there’s a problem: it takes time and attention to get your credit score to a great place. Small mistakes, like missing a payment, or being denied for a loan, can cause your credit to take a serious hit. Damage like that can take months to undo. If 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

Mogo Presents: Holler For Your Dollar’s 5 Steps to a Rocking Credit Score

Did you know that one of the sexiest holidays of the year happens today? It’s** “Get Smart About Credit Day”** []! Excited yet? If not, get ready! Mogo has arranged free access to Holler For Your Dollar’s [] “5 Steps to a Rocking Credit Score” video. Enjoy! Mogo Presents: Holler For Your Dollar’s 5 Steps to a Rocking Credit Score. *Guest writer: Chantel Chapman*If you thought report cards stopped a