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About your credit Re-establish your
credit
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About your credit
When you apply for a mortgage, most lenders will approve your loan
and determine your interest rate based upon several factors,
including your credit score - also known as the "FICO"
score. Developed by Fair, Isaac and Company, the FICO score is a
number between 300 and 900 that reflects your credit rating. The
higher your score the more likely you are to be approved for loans
and receive favorable rates.
In Canada, there
are two credit reporting agencies: TransUnion and Equifax. Some
credit card companies report to TransUnion, others to Equifax.
When you apply for credit, such as a mortgage, personal loan, or
even another credit card, the lender or card company will check your
credit to determine your credit worthiness. Each inquiry from a
lender may negatively impact your credit score slightly. The more...
To get your full free report about
the importance of credit, please fill out the information below:
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Score Power: Your FICO Score plus your
Equifax Credit Report for $21.95
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