Plain-language guides to credit, lending, and the markets, written by working credit professionals and reviewed for accuracy.
69 articles
In Canada, a medical bill only affects your credit rating if it goes unpaid and is sent to a collection agency. Here is how that works and how to prevent it.
You need about 600 for a CMHC-insured mortgage and 680 for the best bank rates in Canada. See the score by path, the R-scale, and what a low rating costs.
In Canada, a student loan affects your credit rating through payment history. See how on-time payments help, what default costs, and government vs private.
Building credit from zero in Canada takes time, not tricks. A plain guide to secured cards, credit-builder loans and rent reporting, plus a realistic timeline.
The highest credit score in Canada is 900 on the Equifax and TransUnion scales. Here is how rare a 900 is, why 850 also appears, and if it is worth chasing.
A rate hike raises variable mortgage payments right away and fixed payments at renewal. See the mechanism, worked numbers, and what it means for you in Canada.
The highest credit score possible is 850 on FICO and VantageScore, and 900 on industry FICO scores. See how rare a perfect score is and who reaches it.
In Canada your credit rating is calculated from five factors, led by payment history at 35%. See the formula, the R1-R9 scale, and why your two scores differ.
A field underwriter's main task is to gather accurate, complete application information, not to assign the risk class. What that means for Canadian advisors.
To underwrite means to assess and accept financial risk for a fee. See what it means for a loan, in insurance and securities, and what an underwriter does.
Your credit score can drop from a late payment, higher utilization, a new inquiry, or a closed account. Here is what caused it in Canada and how to recover.
The interest rate is your borrowing cost, APR adds the lender fees, and APY adds compounding on savings. See how the three differ, with a worked example.