Why Does Your Financial Wellness Matter?
Watch this video to find out:
Let’s learn how we can help you manage your credit.
What is a credit score?
Your credit score is a number showing how well you manage credit.
It’s a scale between 300-900 points and based off your credit report.
For a copy of your credit report, visit TransUnion or Equifax. Additional fees may apply.
It’s a scale between 300-900 points and based off your credit report.
For a copy of your credit report, visit TransUnion or Equifax. Additional fees may apply.
Why credit score matters
Your credit score impacts many important decisions, including:
Getting approved for a credit card or loan
Getting approved for buying or renting a home
Qualifying for a lower interest rate
Getting hired for certain jobs
Accessing a higher credit limit or loan/mortgage amount
Determining your insurance premiums (in some provinces)
As permitted by law for certain products in certain jurisdictions
What is a Credit Report?
A credit report provides a summary of your credit history with credit cards, loans and mortgages.
Companies including your bank, credit card, and telecommunications companies submit information to the credit bureau to show how you manage credit.
The information submitted includes things such as:
- When you opened your account(s)
- How much money you owe
- Whether you’ve made your payments on time
- Whether you’ve missed payments
- Whether you’ve gone over your limit
How to improve your credit score:
Keep your accounts up-to-date and in good standing
Make payments on time and always pay at least the minimum payment by the due date
Only spend what you can afford to pay off monthly
Remember:
- If you ever have trouble making your payments, you should reach out to your lender(s) and let them know. They may have programs that can help you.
- Update your address and email to ensure you receive your statements.
How can we help manage your account?
Recurring Payments
Set up automatic payment withdrawals, so you never miss a payment to your credit card