Why Your Credit Score Is Your Most Valuable Financial Asset

In Canada, your credit score is a three-digit number between 300 and 900 that tells lenders how reliably you manage debt. A score of 700+ opens doors to the best rates and highest approval odds — while a score below 650 can cost you thousands in higher interest or outright denials.

What Affects Your Score

• Payment History (35%): Always pay on time — even one missed payment can drop your score significantly.
• Credit Utilization (30%): Keep balances below 30% of your available credit limit.
• Credit History Length (15%): Older accounts help. Don't close your oldest card.
• Credit Mix (10%): Having both revolving (credit cards) and installment (loans) credit helps.
• New Credit Inquiries (10%): Multiple hard inquiries in a short window can lower your score.

How to Build Your Score

1. Set up automatic payments to avoid late fees.
2. Pay down high-utilization cards first.
3. Dispute any errors on your Equifax or TransUnion report.
4. Avoid applying for multiple new credit products at once.

Why It Matters for Our Services

Many of our lending, mortgage, and personal line of credit services require a minimum score of 700. If you're not quite there yet, our advisors can build a roadmap to get you to where you need to be — faster than going it alone.