Here are eight tangible steps you can take to improve your credit score. Your credit score directly impacts your ability to get approved for financing, including credit cards, loans, and mortgages.
The Borrowell Team
Feb 04, 2021
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It’s February and Love is in the air!
But according to a survey from Weddingbells magazine, love (or at least marriage) doesn’t come cheaply.
Here are the average costs of a wedding in Canada according to their survey:
Surprised by how much everything adds up to? What surprised us the most is how few couples have the funds saved up to pay for their wedding, which means many will be borrowing – maybe from the bank of mom and dad, and hopefully not on a credit card! If you do pay with your credit card, make sure you pay it off at the end of month with a lower interest personal loan. Borrowell offers personal loans that can help you pay off credit card debt.
Borrowell is dedicated to making financial stability possible for everyone. With over 3 million members, the company offers free credit scores in Canada, education, weekly credit monitoring, credit building solutions, as well as digital tools like AI-powered credit coaching and personalized financial product recommendations. For more information, visit borrowell.com or download the mobile app for Android or iOS.
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Thanks to rent reporting services, you can now build your credit score by paying your rent on time every month.
Janine DeVault
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With all the different credit options available in Canada, it’s important to understand the differences between each one so that you can find the right product for your needs. Credit can be useful to help you establish a history and finance purchases, but should be used mindfully.
In this Borrowing 101 article, we’ll give you an overview of personal loans and lines of credit to help you understand how they work, when to use them, and what to be careful of in order to protect your credit score.
The Borrowell Team
Feb 28, 2023
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