Serious question: do you know, generally, what your credit score is? Have you checked your credit report yet this year?
If your answer is no, here’s a tip: Make it a New Year’s Resolution to check your credit report once a year.
That’s it, just once a year – so easy!
As easy as it is though, Canadians on the whole are not that great about understanding their credit.
A recent survey, commissioned by Mogo, found that while 72% of Canadians recognized that lenders and banks look at credit scores during the loan application process, most Canadians don’t know what else their score is used for:
- 81% of Canadians don’t realize that an employer may check their credit score when being considered for a job position
- A full two thirds of Canadians don’t know that insurance agencies or cell phone companies might look at credit scores during the application process (67% and 66%, respectively)
- 61% of Canadians don’t know that landlords often look at credit scores as part of a rental application
Don’t be a statistic, guys, you’re better than those people.
Here’s the skinny on credit reports and credit scores: Continue reading “Everything You Need to Know About Credit Scores”