In today’s B’s Finance Minute, let’s talk about factors that can affect your credit score. Studies show that 80% of Canadian’s don’t know their credit score and 63% don’t know how their credit score is determined. This is a mathematical algorithm that predicts how you manage your credit.

The factors that affect your credit score are:

  • 35% depends on your payment history
  • 35% depends on outstanding balance vs. limit
  • 15% depends on recent credit checks
  • 15% depends on how long you’ve had your credit history

The higher the score, the better the chances are of you buying with less down, better rates and most importantly, the higher the chance of you getting approved for more.  If you want to know more about your credit history, let’s talk! Reply here or send me a private message. This is B’s Finance Minute.  My intention in this blog is to create a positive lasting difference.  Share this so you can too!

DISCLAIMER: The information in this post is solely advisory, and should not be substituted for legal, financial or tax advice. Any and all decisions and actions must be done through the advice and counsel of a qualified attorney, financial advisor and/or CPA. We cannot be held responsible for actions you may take without proper financial, legal or tax advice.

Karista Events & Workshops

We offer FREE educational events and workshops for First-time Home Buyers, Real Estate Investors, and a lot more!

Although we currently don’t have any scheduled webinars, we have an exciting opportunity for you to access our on-demand webinar recording. To get your hands on this valuable resource, we invite you to book a Quick Call with one of our Mortgage Strategy Managers. They will be delighted to assist you. Simply click here to schedule your call.

What: FREE First-time Homebuyer Workshop (Online)
When: March 2, 2024 (Saturday)
Time: 2:00 PM to 4:00 PM Pacific Time

Click Here to Register

What: FREE Real Estate Investing Workshop
When: TBC
Time: 2:00PM to 4:00 PM Pacific Time

Click Here to Register

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