Category: Credit FAQs

  • Credit Utilization in Canada: FAQs and Best Practices

    Credit Utilization in Canada: FAQs and Best Practices

    Credit utilization is a key factor in your credit score. Here are FAQs and best practices for managing credit utilization in Canada: 1. What is credit utilization? Credit utilization is the ratio of your current credit card balances to your credit limits. It measures how much of your available credit you are using. 2. Why… Read more

  • How Credit Inquiries Affect Canadians: Frequently Asked Questions

    How Credit Inquiries Affect Canadians: Frequently Asked Questions

    Credit inquiries are a common part of the credit process. Here are FAQs about how credit inquiries affect Canadians: 1. What is a credit inquiry? A credit inquiry is a request to view your credit report. There are two types: “soft inquiries” and “hard inquiries.” 2. What is a soft inquiry? A soft inquiry occurs… Read more

  • Canadian Credit Myths Busted: FAQs and Facts

    Canadian Credit Myths Busted: FAQs and Facts

    There are many myths about credit in Canada. Here are FAQs to bust common credit myths and reveal the facts: 1. Myth: Checking my credit score will lower it. Fact: Checking your own credit score is a soft inquiry and does not affect your score. 2. Myth: Carrying a balance improves my credit score. Fact:… Read more

  • Improving Your Credit Score in Canada: FAQs and Expert Tips

    Improving Your Credit Score in Canada: FAQs and Expert Tips

    Improving your credit score is essential for financial success. Here are FAQs and expert tips for improving your credit score in Canada: 1. How can I improve my credit score? Pay your bills on time, keep your credit utilization low, diversify your credit mix, and avoid new credit applications. 2. How long does it take… Read more