New coverage of credit reports and credit scores

February 1, 2018

How's that new year's resolution going to get a better handle on your finances? We've just published new information on credit reports and credit scores that can help.  

Your credit report shows your history of paying bills and borrowing money. It's used to calculate your credit score. Your credit score is a number between 300 and 900 that indicates how likely you are to pay your bills on time and pay back money you've borrrowed. Banks, businesses and others look at your credit report and credit score to decide whether to lend you money, hire you, or do business with you. 

Did you know that every time you're late paying a bill, your credit score takes a hit? That's even if you're only a few days late. And even if the bill is for a relatively small amount. 

We've published five new pages on credit reports to help you understand how they work and how you can improve your credit score:

Thanks to Surrey lawyer Robert Rogers for reviewing this information for legal accuracy. The external review is a key part of our process to ensure the information is reliable and up-to-date.

We are grateful to work on the unceded traditional territories of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish) and səlilwətaɬ (Tsleil-Waututh) Nations, whose Peoples continue to live on and care for these lands.