There are over 800,000 Canadians with bad credit.
The reality is that it’s much easier to damage your credit score than it is to rebuild it. Rebuilding your credit score takes time and hard work. So, some Canadians ignore it – which can lead to further problems down the line.
Credit scores determine how likely you are to be approved for loans. The higher your credit score, the better your interest rate is likely to be – so good credit is really worthwhile. With a high credit score, you’ll also gain access to higher quality lenders so you can plan for your future.