Understand how credit shapes your financial life in Canada
Why Your Credit Score Matters
Your credit score is one of the most important numbers in your financial life in Canada. It can affect your ability to rent housing, get a cell phone plan, qualify for a car loan, or secure a mortgage. Understanding it puts you in control.
What You Will Learn
What are Credit Scores?
How credit works in Canada.
Credit Scores
300–900: what your number means
Credit Products
Cards, loans & lines of credit.
Credit Reports
What’s in your report & how to get it free
Lender Decisions
How banks evaluate your application
Newcomer Tip
In Canada, you have the right to access your credit report for free from both Equifax Canada and TransUnion Canada. Regularly reviewing your credit report can help you identify errors, detect potential fraud, and better understand your financial health.
Checking your own credit report is considered a “soft inquiry” and does not affect your credit score.
